1938
NIPPON RIETEC CO.,LTD.
日本リーテック株式会社
Industrials · Engineering & Construction
Nippon Rietec Co.,Ltd. engages in the railway electrical equipment construction business in Japan. The company's offers signal equipment, train track equipment, power generation and transformation equipment, electric light and power equipment, and information and communication system constructions, as well as transmission line equipment. It also constructs signage and landscape sign, traffic signals, and road information control systems. In addition, the company provides indoor/outdoor electric installation work, and solar power generation systems; and overhead power line and information and communication facilities, as well as leases land and buildings. Nippon Rietec Co.,Ltd. was incorporated in 1945 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥68.7B
¥58.5B
¥53.7B
¥53.2B
Cost of Sales
¥57.8B
¥49.9B
¥46.0B
¥45.5B
Gross Profit
¥10.8B
¥8.7B
¥7.7B
¥7.7B
SG&A
¥5.6B
¥5.2B
¥5.0B
¥4.6B
Operating Income
¥5.2B
¥3.4B
¥2.7B
¥3.1B
Non-Operating Income
¥875M
¥577M
¥492M
¥330M
Dividend Income
¥172M
¥140M
¥129M
¥136M
Interest Income
¥2M
¥1M
¥1M
¥1M
Non-Operating Expenses
¥120M
¥99M
¥98M
¥94M
Interest Expense
¥88M
¥62M
¥60M
¥64M
Ordinary Income
¥6.0B
¥3.9B
¥3.1B
¥3.3B
Pre-tax Income
¥6.5B
¥3.9B
¥3.1B
¥3.5B
Income Taxes
¥1.7B
¥1.1B
¥935M
¥1.1B
Current Tax
¥2.0B
¥1.3B
¥1.1B
¥805M
Deferred Tax
¥-300M
¥-169M
¥-123M
¥331M
Net Income (owners)
¥4.7B
¥2.8B
¥2.1B
¥2.4B
Comprehensive Income
¥4.8B
¥3.9B
¥2.1B
¥1.8B
EBITDA
¥6.7B
¥4.9B
¥4.1B
¥4.3B
EPS
¥191.24
¥111.37
¥85.07
¥95.55
Shares Outstanding
24.8M
24.8M
25.0M
25.2M
Shares Issued (total)
25.6M
25.6M
25.6M
25.6M
Treasury Shares
0.9M
0.9M
0.7M
0.5M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥94.6B
¥87.3B
¥82.9B
¥79.9B
Current Assets
¥55.7B
¥48.9B
¥46.5B
¥44.1B
Cash & Deposits
¥8.3B
¥8.9B
¥7.9B
¥7.8B
Non-Current Assets
¥38.9B
¥38.4B
¥36.3B
¥35.8B
PP&E
¥21.5B
¥21.0B
¥20.1B
¥19.9B
Intangible Assets
¥391M
¥437M
¥582M
¥606M
Investment Securities
¥16.2B
¥16.3B
¥14.7B
¥14.4B
Deferred Tax Assets
¥495M
¥302M
¥624M
¥501M
Total Liabilities
¥30.9B
¥27.5B
¥26.1B
¥24.4B
Current Liabilities
¥24.4B
¥20.0B
¥18.4B
¥17.1B
ST Debt
¥500M
¥500M
—
—
Taxes Payable
¥2.1B
¥1.3B
¥1.1B
¥825M
Non-Current Liabilities
¥6.5B
¥7.5B
¥7.7B
¥7.2B
Pension Obligations
¥4.9B
¥5.5B
¥5.5B
¥5.3B
Total Equity
¥63.7B
¥59.8B
¥56.8B
¥55.5B
Capital Stock
¥1.4B
¥1.4B
¥1.4B
¥1.4B
Capital Surplus
¥3.2B
¥3.2B
¥3.2B
¥3.2B
Retained Earnings
¥57.0B
¥53.1B
¥51.0B
¥49.6B
Treasury Stock
¥-770M
¥-770M
¥-519M
¥-344M
AOCI
¥2.9B
¥2.8B
¥1.6B
¥1.6B
Equity (owners)
¥60.9B
¥57.0B
¥55.1B
¥53.9B
Total Interest-Bearing Debt ⓘ
¥500M
¥500M
—
—
Net Cash ⓘ
¥7.8B
¥8.4B
¥7.9B
¥7.8B
NCAV ⓘ
¥24.8B
¥21.4B
¥20.5B
¥19.8B
NCAV/Share
¥1,002
¥863
¥820
¥785
BV/Share
¥2,459
¥2,302
¥2,210
¥2,141
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥2.0B
¥3.9B
¥2.2B
¥2.6B
Interest Paid
¥-88M
¥-62M
¥-60M
¥-64M
Interest Received
¥238M
¥209M
¥189M
¥197M
D&A
¥1.5B
¥1.4B
¥1.4B
¥1.2B
Investing CF
¥-1.2B
¥-1.8B
¥-831M
¥-455M
CapEx
¥1.7B
¥2.0B
¥743M
¥538M
Purchase Investments
¥-30M
—
—
¥-2M
Proceeds from Invest.
¥688M
¥21M
¥81M
¥210M
Financing CF
¥-1.4B
¥-960M
¥-1.3B
¥-1.1B
Dividends Paid
¥-872M
¥-681M
¥-679M
¥-678M
Share Buybacks
¥-0M
¥-251M
¥-175M
¥-0M
Free Cash Flow
¥329M
¥1.8B
¥1.4B
¥2.1B
Net Change in Cash
¥-588M
¥1.1B
¥10M
¥1.1B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
7.7%
4.8%
3.8%
4.4%
ROA
5.2%
3.3%
2.6%
3.0%
EPS
¥191.24
¥111.37
¥85.07
¥95.55
DPS
¥77.00
¥35.00
¥27.00
¥27.00
BPS
¥2,574.78
¥2,415.07
¥2,275.78
¥2,206.82
FCF/Share
¥13
¥75
¥57
¥83
NCAV/Share
¥1,002
¥863
¥820
¥785
Payout Ratio
40.3%
31.4%
31.7%
28.3%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 5
Date Activist Stake Event Flag Demands Source
2025-09-26
Hikari Tsushin K.K.
5.34%
+0.33%
change
Passive
—
2025-02-28
Hikari Tsushin K.K.
5.01%
initial_5pct
Passive
—
2025-02-25
East Japan Railway Company
18.94%
+1.95%
change
Passive
—
2025-02-21
East Japan Railway Company
16.99%
change
Passive
—
2023-12-07
FMR LLC
4.28%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-18
14:30
Cost of Capital
¥97.0/sh
+18%
Nippon Rietec updated its capital cost and shareholder value strategy, revising ROE target from 8% to 9%, raising divide…
Summary
Nippon Rietec updated its capital cost and shareholder value strategy, revising ROE target from 8% to 9%, raising dividend per share from 82 yen to 97 yen (+18.3%), and increasing DOE (Dividend on Equity) target from 3.2% to 3.6%. The company achieved FY2025 operating profit of 71 billion yen (exceeding 65 billion yen target), with PBR of 1.03x against TSE prime average of 1.5x, demonstrating improved operational performance while signaling continued market valuation gap closure through enhanced shareholder returns and growth investment.
YoY: +18%
Source (JP)
見直し後の配当還元指標:DOE3.6%(DOE=ROE×配当性向)ROE目標:9%、配当性向:40%、2027/3月期より中間配当制度を導入、1株当たり配当金 82円→97円、年間配当総額 20億円→24億円
資本コストや株価を意識した経営の実現に向けた対応について(アップデート)
TDnet PDF
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 12
#
Shareholder
Shares (thou.)
% of Total
1
East Japan Railway Company
東日本旅客鉄道株式会社
4,819
19.47%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
1,977
7.99%
3
Business Partner Stock Ownership Plan
日本リーテック取引先持株会
1,566
6.33%
4
HIKARI TSUSHIN,INC.
光通信株式会社
1,272
5.14%
5
Employee Stock Ownership Plan
日本リーテック従業員持株会
1,110
4.49%
6
NIPPON DENSETSU KOGYO CO.,LTD
日本電設工業株式会社
1,045
4.22%
7
Mizuho Bank
株式会社みずほ銀行
756
3.06%
8
MUFG Bank
株式会社三菱UFJ銀行
734
2.97%
9
トーグ安全工業株式会社
649
2.62%
10
Nippon Signal Company,Limited
日本信号株式会社
570
2.31%
Domestic Nominees
8.0%
+0.8% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
50.6%
+2.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
East Japan Railway Company
東日本旅客鉄道
17.31%
17.45%
19.47%
+2.02%
Japan Master Trust Bank
日本マスタートラスト信託銀行
6.18%
7.15%
7.99%
+0.84%
Business Partner Stock Ownership Plan
日本リーテック取引先持株会
6.20%
6.41%
6.33%
-0.08%
HIKARI TSUSHIN,INC.
光通信
3.95%
4.39%
5.14%
+0.75%
Employee Stock Ownership Plan
日本リーテック従業員持株会
4.50%
4.61%
4.49%
-0.12%
NIPPON DENSETSU KOGYO CO.,LTD
日本電設工業
4.19%
4.22%
4.22%
Mizuho Bank
みずほ銀行
3.03%
3.06%
3.06%
MUFG Bank
三菱UFJ銀行
2.94%
2.97%
2.97%
トーグ安全工業
2.60%
2.62%
2.62%
Nippon Signal Company,Limited
日本信号
—
2.31%
2.31%
Fidelity
last seen 2023
Exited Top 10
3.99%
—
—
Concentration (HHI)
ⓘ
470
485
578
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥4,039M
+15% since 2023
Holdings
12
3 exited
Trend
3 building
vs 2023
Held Company
FY2025
¥4,039M total
FY2023
¥3,504M total
Book Val ¥M
Shares
Book Val ¥M
Shares
NIPPON DENSETSU KOGYO CO.,LTD
日本電設工業㈱
1,480
704,648
1,116
704,648
M
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
807
401,350
340
401,350
Nippon Signal Company,Limited
日本信号㈱
341
380,750
404
380,750
M
Daido Signal Co.,Ltd.
大同信号㈱
336
655,859
283
655,859
M
West Japan Railway Company
西日本旅客鉄道㈱
321
+100.0%
↑
110,000
300
55,000
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
244
60,285
113
60,285
Keisei Electric Railway Co.
京成電鉄㈱
150
+200.0%
↑
111,300
151
37,100
Sumitomo Electric Industries, Ltd.
住友電気工業㈱
130
52,700
89
52,700
M
Kyosan Electric Manufacturing Co.,Ltd.
㈱京三製作所
110
225,225
96
225,225
M
TOTETSU KOGYO CO.,LTD.
東鉄工業㈱
108
35,339
96
35,339
NAGOYA ELECTRIC WORKS CO.,LTD.
名古屋電機工業㈱
11
+100.0%
↑
10,000
8
5,000
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱
—
—
Hulic Co.,Ltd.
ヒューリック㈱
—
−100%
Exit
—
349
321,000
三井住友トラスト・ホールディングス㈱
—
−100%
Exit
—
142
31,238
JFE Holdings,Inc.
JFEホールディングス㈱
—
−100%
Exit
—
16
9,244
Portfolio total
4,039
3,504
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding