1975
ASAHI KOGYOSHA CO.,LTD.
株式会社朝日工業社
Construction
Asahi Kogyosha Co., Ltd. primarily engages in the air-conditioning and sanitation installation works in Japan. The company operates through the Facility Installation Business; and Equipment Manufacturing and Sales Business segments. It also develops, designs, and manufactures precision environmental control equipment for industries involved in manufacturing semiconductors and liquid crystal panels. The company was founded in 1925 and is headquartered in Tokyo, Japan.
Price
¥3,985
Market Cap
¥102.6B
Ent. Value
¥84.2B
Net Cash
¥18.4B
Shares Out.
25.8M
P / E
11.1×
EV / EBIT
7.2×
P / Book
2.03×
P / NCAV
4.49×
Div. Yield
1.25%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥104.8B | ¥91.9B | ¥91.7B | ¥80.2B | ¥68.8B |
| Cost of Sales | ¥83.4B | ¥76.6B | ¥80.0B | ¥71.1B | ¥60.4B |
| Gross Profit | ¥21.4B | ¥15.4B | ¥11.7B | ¥9.1B | ¥8.5B |
| SG&A | ¥9.8B | ¥8.1B | ¥7.1B | ¥6.4B | ¥6.2B |
| Operating Income | ¥11.7B | ¥7.2B | ¥4.6B | ¥2.7B | ¥2.3B |
| Non-Operating Income | ¥466M | ¥435M | ¥372M | ¥500M | ¥360M |
| Dividend Income | — | ¥342M | ¥314M | ¥284M | ¥268M |
| Interest Income | — | ¥12M | ¥7M | ¥2M | ¥1M |
| Non-Operating Expenses | — | ¥101M | ¥43M | ¥71M | ¥51M |
| Interest Expense | — | ¥28M | ¥26M | ¥29M | ¥31M |
| Ordinary Income | ¥12.0B | ¥7.6B | ¥4.9B | ¥3.1B | ¥2.6B |
| Pre-tax Income | ¥12.5B | ¥8.6B | ¥5.1B | ¥3.8B | ¥2.9B |
| Income Taxes | ¥3.2B | ¥2.4B | ¥1.4B | ¥1.3B | ¥1.0B |
| Current Tax | — | ¥2.5B | ¥2.1B | ¥1.4B | ¥1.2B |
| Deferred Tax | — | ¥-87M | ¥-641M | ¥-145M | ¥-170M |
| Net Income (owners) | ¥9.2B | ¥6.2B | ¥3.7B | ¥2.5B | ¥1.9B |
| Comprehensive Income | — | ¥4.9B | ¥4.6B | ¥1.8B | ¥1.3B |
| EBITDA | ¥12.4B | ¥7.9B | ¥5.2B | ¥3.3B | ¥2.9B |
| EPS | ¥358.13 | ¥241.95 | ¥144.35 | ¥193.16 | ¥145.11 |
| Shares Outstanding | — | 25.8M | 12.9M | 12.8M | 6.4M |
| Shares Issued (total) | — | 27.2M | 13.6M | 13.6M | 6.8M |
| Treasury Shares | — | 1.4M | 0.7M | 0.8M | 0.4M |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥100.7B | ¥80.9B | ¥84.0B | ¥78.9B | ¥72.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥72.7B | ¥60.3B | ¥63.9B | ¥59.2B | ¥52.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥26.4B | ¥18.5B | ¥18.8B | ¥17.7B | ¥19.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | — | ¥2.4B | ¥1.8B | ¥1.8B | ¥2.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥28.0B | ¥20.6B | ¥20.2B | ¥19.7B | ¥19.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥11.2B | ¥8.5B | ¥6.4B | ¥6.3B | ¥5.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | — | ¥448M | ¥675M | ¥791M | ¥1.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥15.4B | ¥9.8B | ¥11.8B | ¥11.3B | ¥12.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥49.8B | ¥38.8B | ¥45.3B | ¥43.6B | ¥37.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥45.0B | ¥36.8B | ¥43.7B | ¥41.6B | ¥35.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥4.2B | ¥3.4B | ¥3.3B | ¥3.3B | ¥3.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | — | ¥1.6B | ¥1.6B | ¥812M | ¥956M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥4.8B | ¥2.0B | ¥1.6B | ¥1.9B | ¥2.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥3.8B | ¥196M | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | — | ¥1.3B | ¥1.1B | ¥1.3B | ¥978M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | — | — | ¥5M | ¥298M | ¥771M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥50.9B | ¥42.0B | ¥38.8B | ¥35.4B | ¥34.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | — | ¥3.9B | ¥3.9B | ¥3.9B | ¥3.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥3.8B | ¥3.8B | ¥3.8B | ¥3.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥37.4B | ¥31.9B | ¥27.3B | ¥24.8B | ¥23.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-647M | ¥-660M | ¥-672M | ¥-691M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥3.1B | ¥4.4B | ¥3.6B | ¥4.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥44.7B | ¥38.9B | ¥34.3B | ¥31.8B | ¥30.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥8.0B | ¥3.6B | ¥3.3B | ¥3.3B | ¥3.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥18.4B | ¥14.9B | ¥15.5B | ¥14.4B | ¥15.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥22.8B | ¥21.5B | ¥18.6B | ¥15.6B | ¥14.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥833 | ¥1,446 | ¥1,217 | ¥2,247 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥1,511 | ¥2,668 | ¥2,474 | ¥4,684 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥12.7B | ¥1.3B | ¥2.0B | ¥-34M | ¥4.6B |
| Taxes Paid | — | ¥-2.4B | ¥-1.4B | ¥-1.6B | ¥-492M |
| Interest Paid | — | ¥-28M | ¥-26M | ¥-27M | ¥-31M |
| Interest Received | — | ¥355M | ¥321M | ¥287M | ¥270M |
| D&A | ¥706M | ¥636M | ¥610M | ¥578M | ¥630M |
| Investing CF | ¥-5.5B | ¥612M | ¥-304M | ¥-481M | ¥89M |
| CapEx | ¥3.8B | ¥1.4B | ¥151M | ¥1.3B | ¥104M |
| Purchase Investments | — | ¥-6M | ¥-6M | ¥-6M | ¥-62M |
| Proceeds from Invest. | — | ¥1.3B | ¥610M | ¥690M | ¥459M |
| Financing CF | ¥498M | ¥-1.5B | ¥-1.3B | ¥-1.3B | ¥-1.3B |
| Dividends Paid | — | ¥-1.7B | ¥-1.2B | ¥-770M | ¥-640M |
| Share Buybacks | — | ¥0M | — | ¥0M | ¥0M |
| LT Debt Repaid | — | — | — | — | ¥-600M |
| Free Cash Flow | ¥8.9B | ¥-97M | ¥1.9B | ¥-1.3B | ¥4.5B |
| Net Change in Cash | — | ¥409M | ¥439M | ¥-1.8B | ¥3.5B |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 19.9% | 15.4% | 10.0% | 7.1% | 5.5% |
| ROA | 10.2% | 7.6% | 4.6% | 3.3% | 2.6% |
| EPS | ¥358.13 | ¥241.95 | ¥144.35 | ¥193.16 | ¥145.11 |
| DPS | ¥50.00 | ¥120.00 | ¥120.00 | ¥80.00 | ¥120.00 |
| BPS | ¥1,965.51 | ¥1,631.80 | ¥1,506.49 | ¥2,753.40 | ¥2,678.31 |
| FCF/Share | — | ¥-4 | ¥145 | ¥-103 | ¥708 |
| NCAV/Share | — | ¥833 | ¥1,446 | ¥1,217 | ¥2,247 |
| Payout Ratio | 14.0% | 49.6% | 83.1% | 41.4% | 82.7% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 3
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-14
16:00
|
Div Increase | ¥2.4B ¥94.0/sh -1% | Asahi Kogyosha announced a dividend increase of ¥9 per share for FY2026 (year ending March 31, 2026), raising the final … | |
|
Summary
Asahi Kogyosha announced a dividend increase of ¥9 per share for FY2026 (year ending March 31, 2026), raising the final dividend to ¥94 from the prior forecast of ¥85. The annual dividend will total ¥144 (final + interim ¥50), representing a consolidated payout ratio of 40.2%, driven by better-than-expected earnings performance.
Deadline: 2026-06-29
YoY: -1%
Source (JP)
当社は、1株当たり9円の増配を実施することといたしました。これにより、期末配当金は前回予想より9円増配の94円となり、年間配当金は144円(連結配当性向40.2%)となります。
剰余金の配当(増配)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)
|
2,412 | 9.36% |
| 2 | 朝日工業社共栄会 | 1,199 | 4.65% |
| 3 |
Mizuho Bank
株式会社みずほ銀行
|
1,160 | 4.50% |
| 4 |
Norinchukin Bank
農林中央金庫
|
1,152 | 4.47% |
| 5 |
Nippon Life Insurance
日本生命保険相互会社
|
1,003 | 3.89% |
| 6 | 朝日工業社西日本共栄会 | 957 | 3.71% |
| 7 | 髙須康有 | 815 | 3.16% |
| 8 |
Employee Stock Ownership Plan
朝日工業社従業員持株会
|
814 | 3.16% |
| 9 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
676 | 2.62% |
| 10 | 小野薬品工業株式会社 | 360 | 1.39% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
12.0%
+1.7% 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
28.9%
-9.9% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 40.9% · 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 | 7.18% | 7.97% | 9.36% +1.39% | |
| 朝日工業社共栄会 | 8.99% | 7.69% | 4.65% -3.04% | |
| Mizuho Bank みずほ銀行 | 4.51% | 4.50% | 4.50% | |
| Norinchukin Bank 農林中央金庫 | 4.48% | 4.47% | 4.47% | |
| Nippon Life Insurance 日本生命保険 | 3.90% | 3.90% | 3.89% -0.01% | |
| 朝日工業社西日本共栄会 | 7.98% | 8.10% | 3.71% -4.39% | |
| Employee Stock Ownership Plan 朝日工業社従業員持株会 | 5.05% | 4.96% | 3.16% -1.80% | |
| 髙須康有 | 3.17% | 3.16% | 3.16% | |
| Japan Custody Bank 日本カストディ銀行 | 1.93% | 2.32% | 2.62% +0.30% | |
| 小野薬品工業 NEW ENTRY | — | — | — | 1.39% NEW |
| Goldman Sachs last seen 2024 | Exited Top 10 | — | 2.05% | — |
| BNP PARIBAS LONDON BRANCH FOR PRIME BROKERAGE CLEARANCE ACC FOR THIRD PARTY last seen 2023 | Exited Top 10 | 1.54% | — | — |
| Concentration (HHI) ⓘ | 293 | 288 | 207 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥8,737M
-14% since 2023
Holdings
31
+3 new
11 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥8,737M total | FY2023 ¥10,187M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
1,885 |
465,395
|
874 | 465,395 | |
|
ONO PHARMACEUTICAL CO., LTD.
小野薬品工業㈱
|
1,547 |
965,605
|
2,668 | 965,605 | M |
|
DAIFUKU CO.,LTD.
㈱ダイフク
|
1,092 |
+200.0%
↑
300,000
|
732 | 100,000 | |
|
Astellas Pharma Inc.
アステラス製薬㈱
|
650 |
-52.7%
↓
449,625
|
1,788 | 949,625 | |
|
MORINAGA MILK INDUSTRY CO.,LTD
森永乳業㈱
|
575 |
+99.9%
↑
184,800
|
440 | 92,449 | M |
|
Keihan Holdings Co.,Ltd.
京阪ホールディングス㈱
|
431 |
132,512
|
457 | 132,512 | M |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
356 |
+400.0%
↑
125,000
|
395 | 25,000 | |
|
TOC Co.,Ltd
㈱テーオーシー
|
254 |
395,250
|
250 | 395,250 | |
|
Nitta Corporation
ニッタ㈱
|
235 |
62,900
|
184 | 62,900 | M |
|
East Japan Railway Company
東日本旅客鉄道㈱ (注3)
|
205 |
NEW
New
69,600
|
— | ||
|
SCREEN Holdings Co., Ltd.
㈱SCREENホールディングス
|
191 |
+100.0%
↑
20,000
|
116 | 10,000 | M |
|
NIKON CORPORATION
㈱ニコン
|
191 |
129,000
|
174 | 129,000 | M |
|
Matsui Construction Co., Ltd.
松井建設㈱
|
177 |
199,100
|
134 | 199,100 | M |
|
Kyodo Printing Co., Ltd.
共同印刷㈱
|
159 |
38,700
|
106 | 38,700 | |
|
SHIMIZU CORPORATION
清水建設㈱
|
149 |
+4.3%
↑
112,828
|
81 | 108,222 | |
|
West Japan Railway Company
西日本旅客鉄道㈱ (注4)
|
139 |
NEW
New
48,000
|
— | ||
|
Sumitomo Realty & Development Co.,Ltd.
住友不動産㈱
|
135 |
24,200
|
72 | 24,200 | |
|
Tokyo Horse Racing Co.
東京都競馬㈱
|
84 |
19,369
|
78 | 19,369 | |
|
TODA CORPORATION
戸田建設㈱
|
60 |
68,700
|
47 | 68,700 | M |
|
MEIKO CONSTRUCTION CO.,LTD.
名工建設㈱
|
57 |
44,467
|
50 | 44,467 | M |
|
Nippon Electric Glass Co., Ltd.
日本電気硝子㈱
|
30 |
NEW
New
8,607
|
— | ||
|
TSUMURA & CO.
㈱ツムラ
|
28 |
+17.3%
↑
6,598
|
14 | 5,627 | |
|
NIPPON CHEMIPHAR CO., LTD.
日本ケミファ㈱
|
26 |
18,000
|
33 | 18,000 | M |
|
ANA HOLDINGSINC.
ANAホールディングス㈱
|
24 |
9,052
|
26 | 9,052 | |
|
TOKYO AUTOMATIC MACHINERY WORKS, LTD
㈱東京自働機械製作所
|
23 |
6,521
|
12 | 6,521 | M |
|
KANADEN CORPORATION
㈱カナデン
|
17 |
12,000
|
13 | 12,000 | M |
|
The Miyazaki Taiyo Bank,Ltd.
㈱宮崎太陽銀行
|
12 |
10,000
|
10 | 10,000 | |
|
Procrea Holdings, Inc.
㈱プロクレアホールディングス
|
5 |
3,000
|
6 | 3,000 | |
|
Olympic Group Corporation
㈱Olympicグループ
|
— | — | |||
| ㈱オリンピック | — | — | |||
|
Azbil Corporation
アズビル㈱
|
— | — | |||
|
ASAHI GROUP HOLDINGS,LTD.
アサヒグループホールディングス㈱
|
— |
−100%
Exit
—
|
521 | 106,000 | |
|
FIDEA Holdings Co. Ltd.
フィデアホールディングス㈱
|
— |
−100%
Exit
—
|
6 | 5,000 | |
|
Kirin Holdings Company, Limited
キリンホールディングス㈱
|
— |
−100%
Exit
—
|
509 | 243,050 | |
|
East Japan Railway Company
東日本旅客鉄道㈱
|
— |
−100%
Exit
—
|
170 | 23,200 | |
|
West Japan Railway Company
西日本旅客鉄道㈱
|
— |
−100%
Exit
—
|
130 | 24,000 | |
|
MEDIPAL HOLDINGS CORPORATION
㈱メディパルホールディングス
|
— |
−100%
Exit
—
|
23 | 13,026 | |
|
Nippon Electric Glass Co., Ltd.
㈱日本電気硝子
|
— |
−100%
Exit
—
|
18 | 7,316 | |
|
HYOKI KAIUN KAISHA,LTD.
兵機海運㈱
|
— |
−100%
Exit
—
|
16 | 7,400 | M |
|
T&D Holdings, Inc.
㈱T&Dホールディングス
|
— |
−100%
Exit
—
|
15 | 9,200 | |
|
隨ャ荳逕溷多菫晞匱譬ェ蠑丈シ夂、セ
第一生命保険㈱
|
— |
−100%
Exit
—
|
14 | 5,900 | M |
|
Coca-Cola Bottlers Japan Holdings Inc.
コカ・コーラボトラーズジャパンホールディングス ㈱
|
— |
−100%
Exit
—
|
5 | 3,750 | |
| Portfolio total | 8,737 | 10,187 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding