Premium Water Holdings,Inc.

株式会社プレミアムウォーターホールディングス

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Premium Water Holdings,Inc. produces and delivers mineral water under the Premium Water brand in Japan. The company was formerly known as Water Direct Corporation and changed its name to Premium Water Holdings,Inc. in July 2016. The company was incorporated in 2006 and is headquartered in Tokyo, Japan.

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Price

¥3,400

Market Cap

¥101.5B

Ent. Value

—

Net Cash est

—

Shares Out.

29.9M

P / E

18.0×

EV / EBIT

—

P / Book

—

P / NCAV

N/M

Div. Yield

2.94%

Financials

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥76.9B	¥80.6B	¥76.5B	¥68.5B
Cost of Sales	¥11.6B	¥13.7B	¥11.8B	¥10.4B
Gross Profit	¥65.3B	¥66.9B	¥64.6B	¥58.1B
SG&A	¥53.8B	¥58.3B	¥57.3B	¥52.0B
Operating Income	¥11.5B	¥9.4B	¥7.3B	¥6.1B
Non-Operating Income	¥155M	¥114M	¥36M	¥34M
Interest Income	¥112M	¥22M	¥3M	¥3M
Non-Operating Expenses	¥1.1B	¥986M	¥934M	¥708M
Interest Expense	¥1.1B	¥986M	¥913M	¥708M
Pre-tax Income	¥9.1B	¥8.0B	¥6.4B	¥5.5B
Net Income (owners)	¥5.6B	¥5.8B	¥6.1B	¥3.5B
Minority Interest	¥-1M	¥0M	¥0M	¥0M
Comprehensive Income	¥5.4B	¥8.3B	¥6.1B	¥3.6B
EBITDA	¥23.9B	¥20.2B	¥16.9B	¥14.5B
EPS	¥189.40	¥195.21	¥204.35	¥119.93
Shares Outstanding	29.9M	29.8M	29.6M	29.3M
Shares Issued (total)	29.9M	29.8M	29.6M	29.3M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥112.1B	¥99.4B	¥86.9B	¥73.1B
Current Assets	¥47.3B	¥44.8B	¥40.6B	¥32.4B
Cash & Deposits	¥31.9B	¥30.6B	¥25.7B	¥20.3B
Non-Current Assets	¥64.8B	¥54.6B	¥46.3B	¥40.7B
PP&E	¥32.8B	¥29.5B	¥25.6B	¥22.1B
Goodwill	¥148M	¥75M	¥75M	¥75M
Intangible Assets	¥3.2B	¥2.6B	¥2.4B	¥2.2B
Deferred Tax Assets	¥1.4B	¥1.8B	¥4.0B	¥3.9B
Total Liabilities	¥87.0B	¥76.6B	¥67.2B	¥58.8B
Current Liabilities	¥43.1B	¥28.3B	¥27.6B	¥20.8B
Non-Current Liabilities	¥43.9B	¥48.4B	¥39.6B	¥38.0B
Deferred Tax Liab.	—	—	—	¥124M
Total Equity	¥25.1B	¥22.8B	¥19.6B	¥14.3B
Capital Surplus	¥4.2B	¥4.2B	¥4.1B	¥3.9B
Retained Earnings	¥16.6B	¥13.8B	¥11.0B	¥6.0B
Treasury Stock	¥-479M	¥-80M	¥-80M	¥-80M
Equity (owners)	¥25.1B	¥22.8B	¥19.6B	¥14.3B
Minority Interests	¥15M	¥16M	¥16M	¥16M

Net Cash ⓘ	¥31.9B	¥30.6B	¥25.7B	¥20.3B
NCAV ⓘ	¥-39.7B	¥-31.8B	¥-26.7B	¥-26.4B
NCAV/Share	¥-1,329	¥-1,068	¥-902	¥-901
BV/Share	¥839	¥763	¥664	¥487

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥20.7B	¥19.7B	¥13.8B	¥8.0B
D&A	¥12.4B	¥10.8B	¥9.6B	¥8.4B
Investing CF	¥-12.8B	¥-5.0B	¥-4.3B	¥-2.7B
Purchase Investments	¥-5.8B	¥-2.1B	¥-883M	—
Financing CF	¥-6.5B	¥-9.9B	¥-4.1B	¥-1.8B
Free Cash Flow	¥20.7B	¥19.7B	¥13.8B	¥8.0B
Net Change in Cash	¥1.3B	¥4.8B	¥5.4B	¥3.4B

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	23.5%	27.2%	35.7%	24.8%
ROA	5.3%	6.2%	7.6%	4.8%
EPS	¥189.40	¥195.21	¥204.35	¥119.93
DPS	¥100.00	¥80.00	¥60.00	¥20.00
FCF/Share	¥692	¥660	¥467	¥272
NCAV/Share	¥-1,329	¥-1,068	¥-902	¥-901
Payout Ratio	52.8%	41.0%	29.4%	16.7%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 11

Date	Activist	Stake	Event	Flag	Demands
2026-05-13	HIKARI TSUSHIN, Inc.	69.6% +15.94%	change	Passive	—
2026-03-13	HIKARI TSUSHIN, Inc.	53.66% -15.82%	change	Passive	—
2026-03-02	HIKARI TSUSHIN, Inc.	69.48% -1.92%	change	Passive	—
2025-12-19	HIKARI TSUSHIN, Inc.	71.4% +1.84%	change	Passive	—
2025-12-01	HIKARI TSUSHIN, Inc.	69.56% -0.74%	change	Passive	—
2024-02-22	YOHEI HAGIO	4.71%	change	Passive	—
2024-02-22	YOHEI HAGIO	4.71%	correction	Passive	—
2023-10-16	HIKARI TSUSHIN, Inc.	70.3%	change	Passive	—
2023-09-07	HIKARI TSUSHIN, Inc.	70.3%	change	Passive	—
2023-09-07	HIKARI TSUSHIN, Inc.	70.3%	change	Passive	—
2023-09-01	Macquarie Bank Limited	3.7%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-12 15:00	Div Increase	¥1.8B ¥60.0/sh +9%	Premium Water Holdings,Inc. increased its FY2026 March period final dividend by 5 yen to 60 yen per share (vs. prior for…
Summary Premium Water Holdings,Inc. increased its FY2026 March period final dividend by 5 yen to 60 yen per share (vs. prior forecast of 55 yen), with total annual dividend reaching 115 yen per share. The increase represents a 9.1% year-over-year increase from the prior year's 55 yen final dividend, totaling 1.832 billion yen. The company maintains its policy of stable dividend increases while balancing internal reserves and capital investments. YoY: +9% Source (JP) 2026年３月期の期末配当につきましては、2025年５月13日に公表した１株当たり配当予想55円00銭から５円増額し、60円00銭とさせていただくことといたしました。剰余金の配当（増配）に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	株式会社HCMAアルファ	11,557,850	38.93%
2	株式会社光通信	9,046,070	30.47%
3	Custody Bank of Japan, Ltd. (Trust Account) 株式会社日本カストディ銀行（信託口）	2,657,400	8.95%
4	萩尾陽平	1,284,700	4.33%
5	金本彰彦	473,350	1.59%
6	今泉貴広	368,560	1.24%
7	木下政弘	328,810	1.11%
8	プレミアムウォーターホールディングス従業員持株会	282,690	0.95%
9	日本テクノロジーベンチャーパートナーズアイ六号投資事業有限責任組合	222,100	0.75%
10	三木谷浩史	172,700	0.58%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

8.9%

-0.0% 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

80.0%

-0.7% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
式会社HCMAアルファ		—	38.80%	38.93% +0.13%
式会社光通信		30.63%	30.37%	30.47% +0.10%
日本カストディ銀行		8.90%	8.97%	8.95% -0.02%
萩尾陽平		5.35%	4.68%	4.33% -0.35%
金本彰彦		2.01%	1.92%	1.59% -0.33%
今泉貴広		1.12%	1.34%	1.24% -0.10%
木下政弘		1.11%	1.10%	1.11% +0.01%
プレミアムウォーターホールディングス従業員持株会		1.31%	1.09%	0.95% -0.14%
日本テクノロジーベンチャーパートナーズアイ六号投資事業有限責任組合		—	0.75%	0.75%
三木谷浩史 NEW ENTRY	—	—	—	0.58% NEW
SCBHK AC LIECHTENSTEINISCHE LANDESBANK AG last seen 2024	Exited Top 10	—	0.59%	—
Citibank last seen 2023	Exited Top 10	0.94%	—	—
式会社総合生活サービス last seen 2023	Exited Top 10	5.81%	—	—
式会社ブロードピーク last seen 2023	Exited Top 10	32.31%	—	—
Concentration (HHI) ⓘ		2133	2539	2550

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved