1951
EXEO Group, Inc.
エクシオグループ株式会社
Industrials · Engineering & Construction
EXEO Group, Inc. provides services related to communications, electricity, civil engineering, and the environment in Japan. It operates through the Telecommunication Carrier, Urban Infrastructure, and System Solution segments. The company plans, designs, operates, and maintains various telecommunications equipment of telecommunication carriers, such as telecommunications infrastructure, network, electricity, and mobile. It also provides electrical facilities, engineering solutions for electrical work related to data centers; EPC services for solar power plants; construction work to eliminate utility poles; installation, replacement, and renewal of underground utilities; maintenance work on underground facilities; and construction and operation of waste treatment technologies, renewable energy technologies, and water treatment technologies. In addition, the company engages in the development, maintenance, and operation of cloud-based enterprise communications network systems and various enterprise systems for telecom carriers and companies in the finance and manufacturing sectors. The company was formerly known as Kyowa Exeo Corporation and changed its name to EXEO Group, Inc. in October 2021. EXEO Group, Inc. was incorporated in 1946 and is headquartered in Tokyo, Japan.
Price
¥2,846
Market Cap
¥588.8B
Ent. Value
¥678.0B
Net Debt
−¥89.2B
Shares Out.
206.9M
P / E
22.1×
EV / EBIT
16.0×
P / Book
1.83×
P / NCAV
8.18×
Div. Yield
2.21%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥670.8B | ¥614.1B | ¥627.6B | ¥594.8B |
| Cost of Sales | ¥570.3B | ¥524.9B | ¥545.8B | ¥510.5B |
| Gross Profit | ¥100.5B | ¥89.2B | ¥81.8B | ¥84.3B |
| SG&A | ¥58.0B | ¥55.0B | ¥49.3B | ¥41.9B |
| Operating Income | ¥42.5B | ¥34.1B | ¥32.6B | ¥42.4B |
| Non-Operating Income | ¥4.4B | ¥5.8B | ¥3.2B | ¥4.3B |
| Dividend Income | ¥670M | ¥771M | ¥797M | ¥810M |
| Interest Income | ¥262M | ¥227M | ¥80M | ¥36M |
| Non-Operating Expenses | ¥3.3B | ¥3.0B | ¥1.9B | ¥1.5B |
| Interest Expense | ¥1.1B | ¥797M | ¥640M | ¥226M |
| Ordinary Income | ¥43.5B | ¥36.9B | ¥33.8B | ¥45.2B |
| Pre-tax Income | ¥44.0B | ¥36.2B | ¥37.4B | ¥44.1B |
| Income Taxes | ¥17.1B | ¥15.8B | ¥14.4B | ¥15.7B |
| Current Tax | ¥17.7B | ¥16.6B | ¥12.2B | ¥16.4B |
| Deferred Tax | ¥-646M | ¥-808M | ¥2.3B | ¥-735M |
| Net Income (owners) | ¥26.9B | ¥20.1B | ¥22.2B | ¥27.8B |
| Comprehensive Income | ¥26.1B | ¥27.6B | ¥23.9B | ¥28.6B |
| EBITDA | ¥57.0B | ¥47.6B | ¥44.8B | ¥51.7B |
| Goodwill Amort. (J-GAAP) | ¥3.1B | ¥3.3B | ¥3.6B | ¥2.0B |
| EPS | ¥128.97 | ¥94.76 | ¥204.98 | ¥250.64 |
| Shares Outstanding | 206.9M | 105.1M | 107.1M | 110.4M |
| Shares Issued (total) | 208.6M | 106.8M | 109.8M | 116.8M |
| Treasury Shares | 1.7M | 1.7M | 2.8M | 6.4M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥642.5B | ¥591.6B | ¥577.9B | ¥535.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥387.7B | ¥347.8B | ¥353.7B | ¥326.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥40.0B | ¥48.2B | ¥51.5B | ¥54.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥254.8B | ¥243.8B | ¥224.2B | ¥209.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥155.7B | ¥146.0B | ¥135.6B | ¥126.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥15.1B | ¥13.9B | ¥15.1B | ¥9.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥25.1B | ¥22.7B | ¥23.1B | ¥13.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥32.5B | ¥35.5B | ¥32.8B | ¥34.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥8.2B | ¥7.3B | ¥5.8B | ¥5.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥315.7B | ¥272.6B | ¥270.0B | ¥228.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥206.6B | ¥177.7B | ¥159.1B | ¥157.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥52.1B | ¥29.2B | ¥28.7B | ¥30.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥11.7B | ¥10.1B | ¥4.5B | ¥10.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥109.1B | ¥94.9B | ¥110.9B | ¥70.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥77.1B | ¥63.2B | ¥83.6B | ¥48.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥10.0B | ¥9.8B | ¥10.1B | ¥9.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥13.6B | ¥14.5B | ¥10.8B | ¥9.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥326.8B | ¥319.1B | ¥307.9B | ¥307.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥6.9B | ¥6.9B | ¥6.9B | ¥6.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥14.5B | ¥22.1B | ¥28.9B | ¥48.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥278.8B | ¥264.6B | ¥256.3B | ¥244.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-2.8B | ¥-4.5B | ¥-5.8B | ¥-13.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥23.6B | ¥24.1B | ¥16.9B | ¥16.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥297.4B | ¥289.0B | ¥286.3B | ¥287.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥5.6B | ¥5.9B | ¥4.6B | ¥3.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥129.2B | ¥92.4B | ¥112.4B | ¥78.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-89.2B | ¥-44.1B | ¥-60.9B | ¥-23.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥72.0B | ¥75.3B | ¥83.7B | ¥98.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥348 | ¥716 | ¥782 | ¥889 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥1,438 | ¥2,750 | ¥2,674 | ¥2,602 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥6.8B | ¥41.9B | ¥5.5B | ¥26.4B |
| Interest Paid | ¥-1.3B | ¥-460M | ¥-628M | ¥-202M |
| Interest Received | ¥913M | ¥1.0B | ¥872M | ¥846M |
| D&A | ¥11.4B | ¥10.1B | ¥8.7B | ¥7.4B |
| Goodwill Amort. | ¥3.1B | ¥3.3B | ¥3.6B | ¥2.0B |
| Investing CF | ¥-18.4B | ¥-13.6B | ¥-13.3B | ¥-20.4B |
| CapEx | ¥15.8B | ¥17.3B | ¥11.4B | ¥17.9B |
| Purchase Investments | ¥-175M | ¥-560M | ¥-1.6B | ¥-1.1B |
| Proceeds from Invest. | ¥2.5B | ¥5.8B | ¥5.2B | ¥4.8B |
| Financing CF | ¥2.9B | ¥-30.6B | ¥3.3B | ¥5.0B |
| Dividends Paid | ¥-12.8B | ¥-11.8B | ¥-11.2B | ¥-9.4B |
| Share Buybacks | ¥-6.0B | ¥-6.0B | ¥-7.5B | ¥-5.0B |
| LT Debt Repaid | ¥-4.7B | ¥-2.4B | ¥-2.7B | ¥-3.7B |
| Free Cash Flow | ¥-8.9B | ¥24.6B | ¥-5.9B | ¥8.5B |
| Net Change in Cash | ¥-8.0B | ¥-2.8B | ¥-2.8B | ¥11.6B |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 8.5% | 6.5% | 7.3% | 9.4% |
| ROA | 4.4% | 3.4% | 4.0% | 5.2% |
| EPS | ¥128.97 | ¥94.76 | ¥204.98 | ¥250.64 |
| DPS | ¥63.00 | ¥120.00 | ¥102.00 | ¥96.00 |
| BPS | ¥1,551.71 | ¥1,489.68 | ¥2,832.22 | ¥2,748.21 |
| FCF/Share | ¥-43 | ¥234 | ¥-55 | ¥77 |
| NCAV/Share | ¥348 | ¥716 | ¥782 | ¥889 |
| Payout Ratio | 48.8% | 126.6% | 49.8% | 38.3% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 19
Capital Allocation Signals 2
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-13
15:00
|
Buyback | ¥4.0B 1.0% | EXEO Group, board resolved on May 13, 2026 to authorize a share buyback program of up to 2 million shares (0.98% of outs… | |
|
Summary
EXEO Group, board resolved on May 13, 2026 to authorize a share buyback program of up to 2 million shares (0.98% of outstanding shares) with a maximum expenditure of 4 billion JPY. The buyback will be executed through open market purchases on the Tokyo Stock Exchange between July 1, 2026 and March 31, 2027, aimed at improving capital efficiency and enhancing shareholder value through flexible capital allocation.
Deadline: 2027-03-31
% of Shares: 1.0%
Shares: 2,000,000
Source (JP)
自己株式の取得を行う理由：機動的な資本政策の遂行および資本効率の向上を通じて株主利益の向上を図るため。取得し得る株式の総数：200万株（上限）。株式の取得価額の総額：40億円（上限）。取得期間：2026年7月1日～2027年3月31日。
自己株式取得に係る事項の決定に関するお知らせ
TDnet PDF
|
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|
2026-05-13
15:00
|
Div Increase | ¥7.1B ¥35.0/sh +9% | Exsio Group, announced a dividend increase for fiscal year ending March 31, 2026, raising the per-share dividend from 33… | |
|
Summary
Exsio Group, announced a dividend increase for fiscal year ending March 31, 2026, raising the per-share dividend from 33 yen to 35 yen (6.1% increase versus prior forecast). Concurrently, the company revised its shareholder return policy effective fiscal 2027, raising the dividend payout target from a DOE (Dividend on Equity) of 4.0% to 4.5%, and introducing a 60% total payout ratio target for share buybacks. FY2027 dividends are projected at 80 yen per share (17.6% increase versus FY2026).
Deadline: 2026-06-26
YoY: +9%
Source (JP)
33円00銭としておりました期末配当金を35円00銭といたします。これにより年間の配当金は１株当たり68円00銭となる予定です。...ＤＯＥ（連結自己資本配当率）４.０％を目途に配当を実施する。→ＤＯＥ（連結自己資本配当率）４.５％を目途に配当を実施する。
剰余金の配当（増配）および株主還元方針の変更に関するお知らせ
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
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）
|
33,501 | 16.19% |
| 2 |
Japan Custody Bank
株式会社日本カストディ銀行（信託口）
|
20,223 | 9.77% |
| 3 |
Employee Stock Ownership Plan
エクシオグループ 従業員持株会
|
9,852 | 4.76% |
| 4 |
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST （常任代理人 香港上海銀行東京 支店）
|
6,969 | 3.37% |
| 5 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部）
|
5,708 | 2.76% |
| 6 |
Sumitomo Life Insurance
住友生命保険相互会社
|
4,593 | 2.22% |
| 7 |
Sumitomo Realty & Development Co.,Ltd.
住友不動産株式会社
|
4,163 | 2.01% |
| 8 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行・三井住友信託退給口
|
3,668 | 1.77% |
| 9 |
Northern Trust Company
NORTHERN TRUST CO.（AVFC）RE U. S. TAX EXEMPTED PENSION FUNDS （常任代理人 香港上海銀行東京支店）
|
3,666 | 1.77% |
| 10 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行（三井住友信託銀行再信託分・住友電気工業株式会社退職給付信託口）
|
3,000 | 1.45% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
29.2%
+3.8% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
7.9%
-1.4% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
9.0%
+0.2% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 46.1% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 16.16% | 14.59% | 16.19% +1.60% | |
| Japan Custody Bank 日本カストディ銀行 | 12.61% | 10.76% | 12.99% +2.23% | |
| Northern Trust | 2.17% | 7.84% | 5.14% -2.70% | |
| Employee Stock Ownership Plan エクシオグループ 従業員持株会 | 4.49% | 4.61% | 4.76% +0.15% | |
| State Street ↑ | 1.86% | 1.47% | 2.76% +1.29% | |
| Sumitomo Life Insurance 住友生命保険 | 2.15% | 2.19% | 2.22% +0.03% | |
| Sumitomo Realty & Development Co.,Ltd. 住友不動産 | 1.94% | 1.98% | 2.01% +0.03% | |
| JP Morgan last seen 2023 | Exited Top 10 | 1.23% | — | — |
| Concentration (HHI) ⓘ | 458 | 422 | 497 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥13,719M
+3% since 2023
Holdings
22
+1 new
5 exited
Trend
5 unwinding
vs 2023
| Held Company | FY2025 ¥13,719M total | FY2023 ¥13,358M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Sumitomo Realty & Development Co.,Ltd.
住友不動産㈱
|
3,618 |
647,000
|
1,929 | 647,000 | M |
|
Internet Initiative Japan Inc.
㈱インターネットイニシアティブ
|
2,495 |
-33.3%
↓
960,000
|
3,957 | 1,440,000 | |
|
DTS CORPORATION
㈱ＤＴＳ
|
2,053 |
514,000
|
1,655 | 514,000 | M |
|
Hibiya Engineering,Ltd.
日比谷総合設備㈱
|
1,656 |
530,161
|
1,146 | 530,161 | M |
|
Hulic Co.,Ltd.
ヒューリック㈱
|
1,326 |
-20.0%
↓
922,900
|
1,253 | 1,153,600 | M |
|
Keio Corporation
京王電鉄㈱
|
604 |
158,800
|
737 | 158,800 | M |
|
繧ｻ繧ｫ繝ｳ繝峨し繧､繝医い繝翫Μ繝�繧｣繧ｫ譬ｪ蠑丈ｼ夂､ｾ
セカンドサイトアナリティカ㈱
|
441 |
+200.0%
↑
1,275,000
|
649 | 425,000 | |
|
NIPPON DENSETSU KOGYO CO.,LTD
日本電設工業㈱
|
345 |
-33.3%
↓
164,500
|
390 | 246,800 | M |
|
KDDI CORPORATION
ＫＤＤＩ㈱
|
322 |
-10.6%
↓
136,800
|
626 | 153,000 | |
|
TOKYU CORPORATION
東急㈱
|
235 |
+4.5%
↑
140,000
|
236 | 133,973 | |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
216 |
+200.0%
↑
57,102
|
100 | 19,034 | M |
| PicoCELA㈱ | 147 |
NEW
New
1,727,820
|
— | ||
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
143 |
35,302
|
66 | 35,302 | M |
|
DKK Co.,Ltd.
電気興業㈱
|
39 |
-33.3%
↓
22,000
|
73 | 33,000 | M |
| 三井住友トラスト・ホールディングス㈱ | 37 |
+100.0%
↑
10,184
|
23 | 5,092 | M |
| ㈱エヌ・ティ・ティ・データ | 13 |
5,000
|
8 | 5,000 | |
|
Sumitomo Electric Industries, Ltd.
住友電気工業㈱
|
12 |
5,000
|
8 | 5,000 | M |
|
Odakyu Electric Railway Co.,Ltd
小田急電鉄㈱
|
10 |
7,137
|
12 | 7,137 | |
| 日本電信電話㈱ | 5 |
+1150.0%
↑
39,000
|
12 | 3,120 | |
|
Sotetsu Holdings,Inc.
相鉄ホールディングス㈱
|
2 |
1,246
|
2 | 1,246 | |
|
INFRONEER Holdings Inc.
インフロニア・ホールディングス㈱
|
— | — | |||
|
Keikyu Corporation
京浜急行電鉄㈱
|
— | — | |||
|
Inaba Denki Sangyo Co., Ltd.
因幡電機産業㈱
|
— |
−100%
Exit
—
|
171 | 59,200 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱ＵＦＪフィナンシャル・グループ
|
— |
−100%
Exit
—
|
63 | 75,000 | M |
|
NEC Corporation
日本電気㈱
|
— |
−100%
Exit
—
|
3 | 714 | |
|
Furukawa Electric Co., Ltd.
古河電気工業㈱
|
— |
−100%
Exit
—
|
1 | 800 | |
|
Yokogawa Bridge Holdings Corp.
㈱横河ブリッジホールディングス
|
— |
−100%
Exit
—
|
238 | 110,100 | M |
| Portfolio total | 13,719 | 13,358 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding