2286
Hayashikane Sangyo Co., Ltd.
林兼産業株式会社
Foods
Hayashikane Sangyo Co.,Ltd. produces and sells food products in Japan. The company operates through Food Business and Feed Business segments. It offers fish meat products, fish hams and sausages, and functional foods, as well as fish and livestock feed. In addition, the company engages in information processing, refrigerated warehouse, and real estate related activities. Hayashikane Sangyo Co.,Ltd. was incorporated in 1941 and is headquartered in Shimonoseki, Japan.
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⚠ TSE Capital Mandate
P / Book
0.63×
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
¥49.3B
¥47.4B
¥42.5B
¥40.4B
Cost of Sales
¥43.6B
¥42.2B
¥37.8B
¥34.5B
Gross Profit
¥5.7B
¥5.2B
¥4.7B
¥5.9B
SG&A
¥4.6B
¥4.5B
¥4.4B
¥5.1B
Operating Income
¥1.1B
¥698M
¥352M
¥728M
Non-Operating Income
¥414M
¥347M
¥269M
¥341M
Dividend Income
¥125M
¥119M
¥83M
¥98M
Non-Operating Expenses
¥126M
¥131M
¥148M
¥153M
Interest Expense
¥98M
¥94M
¥113M
¥126M
Ordinary Income
¥1.4B
¥914M
¥473M
¥916M
Pre-tax Income
¥1.7B
¥1.0B
¥454M
¥1.1B
Income Taxes
¥606M
¥290M
¥121M
¥307M
Current Tax
¥625M
¥327M
¥119M
¥250M
Deferred Tax
¥-19M
¥-37M
¥2M
¥57M
Net Income (owners)
¥1.1B
¥749M
¥333M
¥708M
Minority Interest
—
—
—
¥50M
Comprehensive Income
¥915M
¥1.4B
¥281M
¥590M
EBITDA
¥1.9B
¥1.4B
¥1.1B
¥1.6B
Goodwill Amort. (J-GAAP)
¥10M
—
—
—
EPS
¥123.42
¥85.90
¥37.82
¥80.57
Shares Outstanding
8.4M
8.6M
8.8M
8.8M
Shares Issued (total)
8.9M
8.9M
8.9M
8.9M
Treasury Shares
0.5M
0.3M
0.1M
0.1M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥27.6B
¥29.0B
¥26.8B
¥26.5B
Current Assets
¥15.3B
¥15.7B
¥14.0B
¥13.4B
Cash & Deposits
¥3.2B
¥2.5B
¥844M
¥2.0B
Trade Receivables
¥4.5B
¥5.9B
¥5.1B
¥4.2B
Non-Current Assets
¥12.3B
¥13.4B
¥12.8B
¥13.1B
PP&E
¥6.9B
¥8.2B
¥8.3B
¥8.8B
Goodwill
¥234M
—
—
—
Intangible Assets
¥453M
¥102M
¥78M
¥14M
Investment Securities
¥4.3B
¥4.5B
¥3.5B
¥3.6B
Deferred Tax Assets
¥334M
¥153M
¥395M
¥377M
Total Liabilities
¥15.8B
¥18.0B
¥16.8B
¥16.7B
Current Liabilities
¥10.7B
¥12.9B
¥11.4B
¥11.0B
ST Debt
¥4.9B
¥5.9B
¥6.7B
¥6.5B
Taxes Payable
¥490M
¥298M
¥101M
¥38M
Non-Current Liabilities
¥5.2B
¥5.1B
¥5.4B
¥5.7B
Total LT Borrowings
¥1.8B
¥1.6B
¥1.7B
¥1.8B
Pension Obligations
¥1.9B
¥1.9B
¥1.9B
¥1.9B
Deferred Tax Liab.
—
—
—
¥0M
Total Equity
¥11.8B
¥11.1B
¥9.9B
¥9.8B
Capital Stock
¥3.4B
¥3.4B
¥3.4B
¥3.4B
Capital Surplus
¥2M
¥3M
¥3M
¥7M
Retained Earnings
¥7.3B
¥6.3B
¥5.7B
¥5.5B
Treasury Stock
¥-246M
¥-160M
¥-58M
¥-78M
AOCI
¥1.4B
¥1.5B
¥858M
¥910M
Equity (owners)
¥10.4B
¥9.6B
¥9.1B
¥8.9B
Total Interest-Bearing Debt ⓘ
¥6.7B
¥7.5B
¥8.4B
¥8.3B
Net Cash ⓘ
¥-3.6B
¥-5.0B
¥-7.6B
¥-6.3B
NCAV ⓘ
¥-516M
¥-2.3B
¥-2.8B
¥-3.3B
NCAV/Share
¥-61
¥-265
¥-321
¥-380
BV/Share
¥1,234
¥1,110
¥1,029
¥1,008
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.1B
¥3.6B
¥-311M
¥684M
Interest Paid
¥-99M
¥-103M
¥-113M
¥-126M
Interest Received
¥136M
¥122M
¥87M
¥98M
D&A
¥786M
¥735M
¥736M
¥860M
Goodwill Amort.
¥10M
—
—
—
Investing CF
¥885M
¥-399M
¥-452M
¥19M
CapEx
¥345M
¥539M
¥337M
¥392M
Purchase Investments
¥-2M
¥-4M
¥-5M
¥-5M
Proceeds from Invest.
¥520M
¥187M
¥63M
¥45M
Financing CF
¥-1.4B
¥-1.2B
¥-616M
¥-738M
Dividends Paid
¥-128M
¥-132M
¥-131M
¥-131M
Share Buybacks
¥-97M
¥-118M
¥-0M
¥-30M
LT Debt Repaid
¥-615M
¥-634M
¥-669M
¥-815M
Free Cash Flow
¥769M
¥3.0B
¥-648M
¥292M
Net Change in Cash
¥644M
¥1.9B
¥-1.4B
¥-34M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
9.2%
7.1%
3.4%
7.4%
ROA
3.7%
2.7%
1.3%
2.7%
EPS
¥123.42
¥85.90
¥37.82
¥80.57
DPS
¥25.00
¥15.00
¥15.00
¥15.00
BPS
¥1,395.72
¥1,285.21
¥1,125.80
¥1,110.97
FCF/Share
¥91
¥352
¥-73
¥33
NCAV/Share
¥-61
¥-265
¥-321
¥-380
Payout Ratio
20.3%
17.5%
39.7%
18.6%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 11
Date Activist Stake Event Flag Demands Source
2025-12-01
Capital Management
5.04%
initial_5pct
Passive
—
2025-08-25
Nakabe Tetsuji
7.98%
-0.45%
correction
Passive
—
2025-08-07
Nakabe Tetsuji
5.86%
-2.12%
correction
Passive
—
2025-08-07
Nakabe Tetsuji
6.97%
-1.01%
correction
Passive
—
2025-08-07
Nakabe Tetsuji
7.98%
initial_5pct
Passive
—
2025-08-07
Nakabe Tetsuji
8.43%
+0.45%
correction
Passive
—
2025-07-31
Nakabe Tetsuji
5.86%
correction
Passive
—
2025-07-31
Nakabe Tetsuji
6.97%
+1.11%
correction
Passive
—
2025-04-24
Nakabe Tetsuji
6.97%
+1.11%
correction
Passive
—
2025-04-24
Nakabe Tetsuji
5.86%
initial_5pct
Passive
—
2025-04-24
Nakabe Tetsuji
8.47%
+2.61%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 9
#
Shareholder
Shares (thou.)
% of Total
1
公益財団法人中部財団
786
9.30%
2
Maruha Nichiro Corporation
マルハニチロ株式会社
565
6.69%
3
株式会社恵比須商会
426
5.04%
4
株式会社松岡
360
4.26%
5
Nippon Life Insurance
日本生命保険相互会社(常任代理人 日本マスタートラスト信託銀行株式会社)
255
3.01%
6
中部 哲二
254
3.01%
7
株式会社十八親和銀行
253
2.99%
8
損害保険ジャパン株式会社 (常任代理人 株式会社日本カストディ銀行)
198
2.35%
9
株式会社山口銀行 (常任代理人 日本マスタートラスト信託銀行株式会社)
157
1.86%
10
株式会社西京銀行
148
1.75%
Domestic Nominees
0.0%
-3.4% 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
40.3%
+3.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
公益財団法人中部財団
8.62%
8.93%
9.30%
+0.37%
Maruha Nichiro Corporation
マルハニチロ
6.41%
6.55%
6.69%
+0.14%
式会社恵比須商会
4.83%
4.93%
5.04%
+0.11%
式会社松岡
4.08%
4.17%
4.26%
+0.09%
Nippon Life Insurance
日本生命保険
2.89%
2.95%
3.01%
+0.06%
中部 哲二
↑
1.86%
2.02%
3.01%
+0.99%
式会社十八親和銀行
2.86%
2.93%
2.99%
+0.06%
Sompo Japan Insurance Inc.
損害保険ジャパン
2.35%
2.30%
2.35%
+0.05%
式会社山口銀行
—
1.82%
1.86%
+0.04%
式会社西京銀行
NEW ENTRY
—
—
—
1.75%
NEW
Japan Master Trust Bank
日本マスタートラスト信託銀行
last seen 2024
Exited Top 10
5.46%
3.42%
—
三井物産
last seen 2023
Exited Top 10
4.25%
—
—
Concentration (HHI)
ⓘ
229
206
214
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥3,204M
+24% since 2023
Holdings
9
1 exited
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥3,204M total
FY2023
¥2,580M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Maruha Nichiro Corporation
マルハニチロ㈱
1,765
541,545
1,286
541,545
M
Fukuoka Financial Group, Inc.
㈱ふくおかフィナンシャルグループ
481
122,429
312
122,429
M
Yamaguchi Finacial Group,Inc.
㈱山口フィナンシャルグループ
393
224,000
182
224,000
M
LIFE CORPORATION
㈱ライフコーポレーション
250
+104.8%
↑
129,810
164
63,370
Hirogin Holdings, Inc.
㈱ひろぎんホールディングス
167
137,947
86
137,947
M
KUREHA CORPORATION
㈱クレハ
100
+200.0%
↑
36,300
102
12,100
M
FUKUTOME MEAT PACKERS, LTD.
福留ハム㈱
24
22,400
33
22,400
M
OUG Holdings Inc.
OUGホールディングス㈱
20
6,300
16
6,300
RETAIL PARTNERS CO., LTD.
㈱リテールパートナーズ
4
-97.3%
↓
3,000
151
110,503
Sompo Holdings, Inc.
SOMPOホールディングス㈱
—
−100%
Exit
—
248
47,250
M
Portfolio total
3,204
2,580
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding