3421
INABA SEISAKUSHO Co.,Ltd.
株式会社稲葉製作所
Metal Products
Inaba Seisakusho Co., Ltd. engages in the engineering, manufacture, sale, and support of office furniture and outdoor storage sheds in Japan. The company operates in two segments, Steel Storage Units and Office Furniture. The Steel Storage Units segment sells and rents storage facilities such as storage sheds, garages, warehouses and bicycle parking areas. The office furniture segment products include desks, meeting tables, office chairs, office partitions, storage cabins, and other items. The company was founded in 1940 and is headquartered in Tokyo, Japan.
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⚠ TSE Capital Mandate
P / Book
0.62×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥41.9B
¥42.4B
¥41.8B
¥39.2B
¥37.8B
Cost of Sales
¥31.9B
¥31.2B
¥31.3B
¥29.5B
¥27.1B
Gross Profit
¥10.0B
¥11.2B
¥10.5B
¥9.6B
¥10.7B
SG&A
¥8.2B
¥8.1B
¥7.8B
¥7.7B
¥8.0B
Operating Income
¥1.9B
¥3.1B
¥2.8B
¥1.9B
¥2.8B
Non-Operating Income
¥367M
¥409M
¥385M
¥438M
¥343M
Dividend Income
¥12M
¥11M
¥10M
¥11M
¥9M
Interest Income
¥33M
¥11M
¥8M
¥7M
¥6M
Non-Operating Expenses
¥35M
¥72M
¥33M
¥43M
¥40M
Interest Expense
—
¥0M
¥1M
¥1M
¥0M
Ordinary Income
¥2.2B
¥3.4B
¥3.1B
¥2.3B
¥3.1B
Pre-tax Income
¥2.2B
¥3.5B
¥2.9B
¥2.2B
¥3.1B
Income Taxes
¥676M
¥1.0B
¥929M
¥660M
¥692M
Current Tax
¥476M
¥1.0B
¥990M
¥585M
¥900M
Deferred Tax
¥200M
¥23M
¥-62M
¥75M
¥-208M
Net Income (owners)
¥1.5B
¥2.4B
¥2.0B
¥1.5B
¥2.4B
Comprehensive Income
¥1.6B
¥2.5B
¥2.1B
¥1.5B
¥2.5B
EBITDA
¥3.9B
¥4.9B
¥4.6B
¥3.9B
¥4.5B
EPS
¥95.97
¥148.91
¥119.54
¥92.30
¥142.26
Shares Outstanding
16.0M
16.3M
16.7M
16.6M
16.6M
Shares Issued (total)
17.0M
17.0M
17.9M
17.9M
17.9M
Treasury Shares
1.0M
0.7M
1.2M
1.3M
1.3M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥59.5B
¥60.5B
¥59.1B
¥59.3B
¥56.5B
Current Assets
¥31.3B
¥31.5B
¥31.2B
¥30.9B
¥28.2B
Cash & Deposits
¥13.7B
¥13.8B
¥13.8B
¥12.9B
¥13.4B
Trade Receivables
¥5.8B
¥6.1B
¥5.9B
¥6.9B
—
Non-Current Assets
¥28.2B
¥29.0B
¥28.0B
¥28.5B
¥28.2B
PP&E
¥24.3B
¥24.3B
¥23.3B
¥24.1B
¥24.1B
Intangible Assets
¥548M
¥292M
¥316M
¥334M
¥328M
Investment Securities
¥1.6B
¥2.2B
¥2.2B
¥2.2B
¥2.0B
Deferred Tax Assets
¥344M
¥562M
¥611M
¥611M
¥691M
Total Liabilities
¥15.4B
¥17.0B
¥16.7B
¥18.6B
¥16.7B
Current Liabilities
¥12.9B
¥14.2B
¥13.8B
¥15.9B
¥13.9B
Accounts Payable
¥2.4B
¥3.4B
¥3.7B
¥5.6B
¥5.1B
Taxes Payable
¥160M
¥561M
¥746M
¥176M
¥651M
Non-Current Liabilities
¥2.5B
¥2.8B
¥2.9B
¥2.7B
¥2.9B
Pension Obligations
¥1.1B
¥1.2B
¥1.2B
¥1.1B
¥1.2B
Deferred Tax Liab.
—
—
—
¥2M
¥2M
Total Equity
¥44.0B
¥43.6B
¥42.4B
¥40.8B
¥39.7B
Capital Stock
¥1.1B
¥1.1B
¥1.1B
¥1.1B
¥1.1B
Capital Surplus
¥764M
¥764M
¥1.0B
¥1.0B
¥1.0B
Retained Earnings
¥43.5B
¥42.6B
¥41.7B
¥40.2B
¥39.2B
Treasury Stock
¥-1.8B
¥-1.4B
¥-1.8B
¥-1.8B
¥-1.8B
AOCI
¥460M
¥434M
¥376M
¥246M
¥235M
Equity (owners)
¥43.6B
¥43.1B
¥42.1B
¥40.5B
¥39.5B
Net Cash ⓘ
¥13.7B
¥13.8B
¥13.8B
¥12.9B
¥13.4B
NCAV ⓘ
¥15.8B
¥14.5B
¥14.5B
¥12.3B
¥11.5B
NCAV/Share
¥990
¥893
¥867
¥741
¥694
BV/Share
¥2,721
¥2,649
¥2,520
¥2,442
¥2,381
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥3.0B
¥3.7B
¥3.0B
¥3.1B
¥5.0B
Interest Paid
—
¥-0M
¥-1M
¥-1M
¥-0M
Interest Received
¥45M
¥24M
¥20M
¥20M
¥15M
D&A
¥2.0B
¥1.8B
¥1.9B
¥2.0B
¥1.7B
Investing CF
¥-1.9B
¥-2.3B
¥-1.7B
¥-2.2B
¥-2.9B
CapEx
¥2.3B
¥2.3B
¥1.5B
¥1.8B
¥3.1B
Purchase Investments
¥-101M
¥-500M
¥-502M
¥-302M
¥-305M
Financing CF
¥-1.2B
¥-1.4B
¥-434M
¥-533M
¥-2.0B
Dividends Paid
¥-683M
¥-650M
¥-432M
¥-531M
¥-445M
Share Buybacks
¥-500M
¥-750M
—
—
¥-1.5B
Free Cash Flow
¥693M
¥1.4B
¥1.5B
¥1.3B
¥1.9B
Net Change in Cash
¥-55M
¥48M
¥843M
¥335M
¥189M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
3.5%
5.7%
4.7%
3.8%
6.0%
ROA
2.6%
4.1%
3.3%
2.6%
4.2%
EPS
¥95.97
¥148.91
¥119.54
¥92.30
¥142.26
DPS
¥42.00
¥37.00
¥36.00
¥26.00
¥32.00
BPS
¥2,772.17
¥2,705.24
¥2,574.03
¥2,472.78
¥2,413.78
FCF/Share
¥43
¥87
¥89
¥75
¥114
NCAV/Share
¥990
¥893
¥867
¥741
¥694
Payout Ratio
43.8%
24.8%
30.1%
28.2%
22.5%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2024-12-26
INABA HOLDINGS Co., Ltd.
24.73%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 9
#
Shareholder
Shares (thou.)
% of Total
1
株式会社イナバホールディングス
4,433
27.69%
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)
963
6.02%
3
稲葉 明
565
3.53%
4
稲葉 茂
509
3.18%
5
秋本 千恵子
475
2.97%
6
Business Partner Stock Ownership Plan
稲葉製作所取引先持株会
468
2.92%
7
稲葉 進
448
2.79%
8
稲葉 常雄
376
2.35%
9
Resona Bank
株式会社りそな銀行
361
2.25%
10
Dai-ichi Life Insurance
第一生命保険株式会社
350
2.18%
Domestic Nominees
6.0%
+0.3% 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
49.9%
+0.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社イナバホールディングス
26.55%
27.22%
27.69%
+0.47%
Japan Master Trust Bank
日本マスタートラスト信託銀行
5.24%
5.71%
6.02%
+0.31%
稲葉 明
3.15%
3.23%
3.53%
+0.30%
稲葉 茂
3.05%
3.12%
3.18%
+0.06%
秋本 千恵子
2.85%
2.92%
2.97%
+0.05%
Business Partner Stock Ownership Plan
稲葉製作所取引先持株会
2.88%
2.95%
2.92%
-0.03%
稲葉 進
2.68%
2.75%
2.79%
+0.04%
稲葉 常雄
2.25%
2.31%
2.35%
+0.04%
Resona Bank
りそな銀行
2.46%
2.52%
2.25%
-0.27%
Dai-ichi Life Insurance
第一生命保険
2.09%
2.14%
2.18%
+0.04%
Concentration (HHI)
ⓘ
791
835
866
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥441M
-18% since 2023
Holdings
9
1 exited
Trend
1 building
vs 2023
Held Company
FY2025
¥441M total
FY2023
¥537M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Resona Holdings, Inc.
株式会社りそなホールディングス
109
78,537
60
78,537
M
FUJI KYUKO CO., LTD.
富士急行株式会社
83
39,000
221
39,000
M
Bunka Shutter Co.,Ltd.
文化シヤッター株式会社
77
30,000
33
30,000
M
TRUSCO NAKAYAMA CORPORATION
トラスコ中山株式会社
47
21,400
46
21,400
M
ジェイエフイーホールディングス株式会社
45
26,170
60
26,170
第一生命ホールディングス株式会社
27
+300.0%
↑
23,200
16
5,800
M
YUASA TRADING CO.,LTD.
ユアサ商事株式会社
26
5,600
25
5,600
M
UCHIDA YOKO CO., LTD.
株式会社内田洋行
18
1,800
9
1,800
M
THE KEIHIN CO., LTD.
ケイヒン株式会社
9
3,500
6
3,500
M
TERAOKA SEISAKUSHO CO.,LTD.
株式会社寺岡製作所
—
−100%
Exit
—
61
179,000
M
Portfolio total
441
537
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding