4022
Rasa Industries,Ltd.
ラサ工業株式会社
Chemicals
Rasa Industries, Ltd. is involved in the chemicals, machinery, and electronic materials businesses in Japan and internationally. The company manufactures and sells phosphoric acid and phosphorus-based secondary salts, coagulants for water treatment, high-purity chemicals for the electronics industry, and deodorants and antibacterial agents. It also offers pipe jacking machine and electron-beam welding; and tunneling machines, crushing related machines, municipal and industrial waste treatment machines, steel castings, high-purity inorganic materials, and radioactive iodine adsorbents and coatings. In addition, the company provides high purity inorganic materials, coating REX photoimageable dielectrics, absorbents of radioactive iodine, and black phosphorus. Further, it is involved in the manufacture and sell fabrics; sale of special screens, process precision machinery, and regenerate oil refining catalysts; and rent of real estate. The company was formerly known as Rasa Island Phosphate Ore, Ltd. and changed its name to Rasa Industries, Ltd. in 1934. Rasa Industries, Ltd. was founded in 1911 and is headquartered in Tokyo, Japan.
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⚠ TSE Capital Mandate
P / Book
0.55×
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
¥45.4B
¥42.8B
¥49.6B
¥35.4B
Cost of Sales
¥35.8B
¥34.5B
¥40.2B
¥27.4B
Gross Profit
¥9.6B
¥8.3B
¥9.4B
¥8.0B
SG&A
¥4.9B
¥4.7B
¥4.8B
¥4.6B
Operating Income
¥4.7B
¥3.6B
¥4.6B
¥3.5B
Non-Operating Income
¥242M
¥224M
¥514M
¥490M
Dividend Income
¥37M
¥62M
¥41M
¥36M
Interest Income
¥2M
¥1M
¥1M
¥1M
Non-Operating Expenses
¥376M
¥419M
¥446M
¥403M
Interest Expense
¥123M
¥178M
¥194M
¥139M
Ordinary Income
¥4.6B
¥3.4B
¥4.7B
¥3.6B
Pre-tax Income
¥4.6B
¥3.5B
¥4.6B
¥3.5B
Income Taxes
¥1.5B
¥1.1B
¥1.4B
¥962M
Current Tax
¥1.3B
¥983M
¥1.2B
¥938M
Deferred Tax
¥205M
¥84M
¥145M
¥24M
Net Income (owners)
¥3.1B
¥2.4B
¥3.2B
¥2.5B
Minority Interest
—
¥6M
¥30M
¥17M
Comprehensive Income
¥3.9B
¥2.9B
¥3.5B
¥2.9B
EBITDA
¥6.5B
¥5.5B
¥6.5B
¥5.0B
EPS
¥398.74
¥301.52
¥408.37
¥320.15
Shares Outstanding
7.8M
7.9M
7.9M
7.9M
Shares Issued (total)
7.9M
7.9M
7.9M
7.9M
Treasury Shares
0.1M
0.1M
0.0M
0.0M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥45.8B
¥44.3B
¥47.6B
¥41.9B
Current Assets
¥23.6B
¥22.5B
¥25.6B
¥19.6B
Cash & Deposits
¥5.1B
¥3.4B
¥4.9B
¥3.5B
Trade Receivables
¥9.4B
¥9.6B
¥8.8B
¥8.0B
Non-Current Assets
¥22.3B
¥21.8B
¥22.0B
¥22.3B
PP&E
¥17.8B
¥17.3B
¥17.9B
¥18.6B
Intangible Assets
¥45M
¥48M
¥40M
¥47M
Investment Securities
¥3.2B
¥3.2B
¥2.7B
¥2.2B
Deferred Tax Assets
¥121M
¥542M
¥691M
¥852M
Total Liabilities
¥18.0B
¥19.4B
¥24.3B
¥21.6B
Current Liabilities
¥11.0B
¥12.1B
¥15.7B
¥12.8B
Accounts Payable
¥3.4B
¥4.3B
¥5.5B
¥4.3B
ST Debt
¥4.3B
¥5.1B
¥7.1B
¥5.8B
Taxes Payable
¥881M
¥498M
¥730M
¥712M
Non-Current Liabilities
¥7.0B
¥7.2B
¥8.6B
¥8.8B
Total LT Borrowings
¥4.0B
¥3.8B
¥5.0B
¥5.3B
Pension Obligations
¥2.5B
¥3.0B
¥3.2B
¥3.1B
Total Equity
¥27.9B
¥25.0B
¥23.3B
¥20.3B
Capital Stock
¥8.4B
¥8.4B
¥8.4B
¥8.4B
Capital Surplus
¥7M
—
—
—
Retained Earnings
¥18.0B
¥15.6B
¥14.2B
¥11.5B
Treasury Stock
¥-328M
¥-139M
¥-59M
¥-23M
AOCI
¥1.8B
¥1.1B
¥542M
¥263M
Equity (owners)
¥26.1B
¥23.9B
¥22.6B
¥19.9B
Minority Interests
—
—
¥126M
¥95M
Total Interest-Bearing Debt ⓘ
¥8.3B
¥8.9B
¥12.2B
¥11.1B
Net Cash ⓘ
¥-3.3B
¥-5.5B
¥-7.2B
¥-7.6B
NCAV ⓘ
¥5.6B
¥3.1B
¥1.3B
¥-2.0B
NCAV/Share
¥720
¥399
¥160
¥-257
BV/Share
¥3,341
¥3,036
¥2,854
¥2,514
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥5.0B
¥5.0B
¥2.0B
¥2.0B
Interest Paid
¥-125M
¥-185M
¥-189M
¥-140M
Interest Received
¥39M
¥340M
¥146M
¥38M
D&A
¥1.8B
¥1.9B
¥1.8B
¥1.5B
Investing CF
¥-1.8B
¥-1.9B
¥-961M
¥-2.3B
CapEx
¥1.9B
¥983M
¥919M
¥2.4B
Proceeds from Invest.
—
—
¥20M
¥163M
Financing CF
¥-1.6B
¥-4.7B
¥245M
¥308M
Dividends Paid
¥-764M
¥-968M
¥-552M
¥-354M
LT Debt Repaid
¥-2.3B
¥-2.4B
¥-3.3B
¥-2.9B
Free Cash Flow
¥3.2B
¥4.0B
¥1.1B
¥-434M
Net Change in Cash
¥1.6B
¥-1.5B
¥1.4B
¥130M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
11.9%
9.9%
14.9%
13.4%
ROA
6.9%
5.2%
7.2%
6.1%
EPS
¥398.74
¥301.52
¥408.37
¥320.15
DPS
¥120.00
¥91.00
¥82.00
¥70.00
BPS
¥3,570.64
¥3,170.40
¥2,922.42
¥2,546.86
FCF/Share
¥406
¥507
¥142
¥-55
NCAV/Share
¥720
¥399
¥160
¥-257
Payout Ratio
30.1%
30.2%
20.1%
21.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 12
Date Activist Stake Event Flag Demands Source
2026-05-22
Goldman Sachs International
5.07%
initial_5pct
Passive
—
2026-05-12
Mizuho Bank, Ltd.
5.74%
-1.25%
change
Passive
—
2025-09-19
Sumitomo Mitsui DS Asset Management Company, Limited
3.78%
change
Passive
—
2025-08-06
Sumitomo Mitsui Trust Bank,Limited
4.6%
change
Passive
—
2024-12-02
Mitsubishi UFJ Financial Group Inc.
5.17%
+0.31%
initial_5pct
Passive
—
2024-09-30
Mitsubishi UFJ Financial Group Inc.
4.86%
-1.33%
change
Passive
—
2024-09-20
Nomura Securities Co.,Ltd.
3.85%
-1.47%
change
Passive
—
2024-07-29
Mitsubishi UFJ Financial Group Inc.
6.19%
change
Passive
—
2024-07-22
Mizuho Bank, Ltd.
6.99%
+1.97%
change
Passive
—
2024-07-03
Nomura Securities Co.,Ltd.
5.32%
initial_5pct
Passive
—
2024-01-22
Mizuho Bank, Ltd.
5.02%
+0.06%
initial_5pct
Passive
—
2023-10-06
Mizuho Bank, Ltd.
4.96%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-14
15:30
Div Increase
¥906M ¥116.0/sh
+61%
Rasa Kogyo announced a dividend increase for fiscal year ending March 31, 2026, raising the year-end dividend per share …
Summary
Rasa Kogyo announced a dividend increase for fiscal year ending March 31, 2026, raising the year-end dividend per share from the forecasted 106 yen to 116 yen (10 yen increase). Total dividend payout is 906 million yen, with annual dividend per share expected to reach 180 yen including the interim dividend of 64 yen. The increase reflects strong FY2026 results and alignment with the company's 30%+ dividend payout ratio and 10%+ ROE targets.
Deadline: 2026-06-26
YoY: +61%
Source (JP)
直近の配当予想の1株当たり期末配当106円から10円増配の1株当たり期末配当116円とすることといたしました。年間配当は1株当たり180円を予定しております。
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
Shareholder
Shares (thou.)
% of Total
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
992
12.71%
2
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
625
8.00%
3
Business Partner Stock Ownership Plan
ラサ工業取引先持株会
435
5.57%
4
株式会社RS Technologies
396
5.07%
5
株式会社みずほ銀行(常任代理人 株式会社日本カストディ銀行)
250
3.21%
6
MUFG Bank
株式会社三菱UFJ銀行
200
2.56%
7
朝日生命保険相互会社(常任代理人 株式会社日本カストディ銀行)
200
2.56%
8
RE FUND 107-CLIENT AC(常任代理人 シティバンク、エヌ・エイ東京支店)
188
2.40%
9
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)
156
2.00%
10
Norinchukin Bank
農林中央金庫
150
1.92%
Domestic Nominees
20.7%
+2.8% 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
25.3%
+2.3% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Japan Master Trust Bank
日本マスタートラスト信託銀行
11.84%
12.38%
12.71%
+0.33%
Japan Custody Bank
日本カストディ銀行
5.63%
5.52%
8.00%
+2.48%
Business Partner Stock Ownership Plan
ラサ工業取引先持株会
5.05%
5.51%
5.57%
+0.06%
式会社RS Technologies
NEW ENTRY
—
—
—
5.07%
NEW
Mizuho Bank
みずほ銀行
3.16%
3.18%
3.21%
+0.03%
MUFG Bank
三菱UFJ銀行
—
2.54%
2.56%
+0.02%
Asahi Mutual Life Insurance
朝日生命保険相互会社
2.52%
2.53%
2.56%
+0.03%
RE FUND 107-CLIENT AC
1.89%
2.39%
2.40%
+0.01%
Sompo Japan Insurance Inc.
損害保険ジャパン
1.97%
1.98%
2.00%
+0.02%
Norinchukin Bank
農林中央金庫
1.89%
1.90%
1.92%
+0.02%
CACEIS BANK/QUINTET LUXEMBOURG SUB AC / UCITS CUSTOMERS ACCOUNT
last seen 2024
Exited Top 10
1.94%
2.98%
—
式会社三菱UFJ銀行
last seen 2023
Exited Top 10
2.52%
—
—
Concentration (HHI)
ⓘ
235
259
319
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥582M
-15% since 2023
Holdings
7
+3 new
4 exited
Trend
Stable
vs 2023
Held Company
FY2025
¥582M total
FY2023
¥688M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Katakura & Co-op Agri Corporation
片倉コープアグリ㈱
259
275,400
459
275,400
Rasa Shoji Co., Ltd.
ラサ商事㈱
148
100,000
145
100,000
M
㈱みずほ フィナンシャルグループ
67
NEW
New
16,700
—
㈱三菱UFJ フィナンシャル・グループ
66
NEW
New
33,000
—
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱(注5)
37
NEW
New
10,000
—
The Bank of Iwate,Ltd.
㈱岩手銀行
5
1,700
3
1,700
Nippon Chemical Industrial Co.,Ltd.
日本化学工業㈱
—
—
NIPPON CHEMI-CON CORPORATION
日本ケミコン㈱
—
−100%
Exit
—
1
500
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
—
−100%
Exit
—
31
16,700
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
—
−100%
Exit
—
27
33,000
三井住友トラスト・ホールディングス㈱
—
−100%
Exit
—
22
5,000
Portfolio total
582
688
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding