4229
Gun Ei Chemical Industry Co., Ltd.
群栄化学工業株式会社
Chemicals
Gun Ei Chemical Industry Co., Ltd., together with its subsidiaries, manufactures and sells synthetic resins and fibers in Japan and internationally. It operates through three segments: Chemicals Business, Food Business, Real Estate Utilization Business. The company offers RESITOP for photoresist, reactive polyimide, phenolic resins, and high purity bisphenol F, which are used in electronic materials; Resitop for shell molding; NFURAN, which is used for curing of furan resin by acids as catalyst; a-system, a self-curing mold production system; and AR SAND that offers sand filling efficiency and mold strength. It also provides functional phenolic resin, kynol novoloid fibers, spherical phenolic resins, s-RP nano sand, high purity bisphenol F, and Milex special phenolic resin that are used in industrial materials. In addition, the company provides foods, such as starches and sugars; and business outsourcing and staffing services. Further, it involved in the leasing of real estate. Gun Ei Chemical Industry Co., Ltd. was founded in 1946 and is headquartered in Takasaki, 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 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥31.3B
¥30.5B
¥30.3B
¥31.4B
¥29.4B
Cost of Sales
¥24.2B
¥24.0B
¥23.4B
¥25.5B
¥22.7B
Gross Profit
¥7.1B
¥6.5B
¥6.9B
¥5.9B
¥6.7B
SG&A
¥4.5B
¥4.2B
¥4.1B
¥4.2B
¥4.2B
Operating Income
¥2.6B
¥2.3B
¥2.7B
¥1.7B
¥2.5B
Non-Operating Income
¥506M
¥447M
¥456M
¥295M
¥342M
Dividend Income
—
¥245M
¥191M
¥165M
¥161M
Interest Income
—
¥108M
¥82M
¥48M
¥30M
Non-Operating Expenses
—
¥24M
¥24M
¥15M
¥16M
Interest Expense
—
¥14M
¥13M
¥12M
¥11M
Ordinary Income
¥3.0B
¥2.7B
¥3.2B
¥1.9B
¥2.8B
Pre-tax Income
¥2.9B
¥2.7B
¥3.0B
¥1.6B
¥2.7B
Income Taxes
¥737M
¥656M
¥770M
¥497M
¥764M
Current Tax
—
¥601M
¥558M
¥399M
¥640M
Deferred Tax
—
¥54M
¥212M
¥98M
¥124M
Net Income (owners)
¥2.0B
¥1.9B
¥2.0B
¥1.2B
¥1.9B
Minority Interest
—
¥134M
¥151M
¥-54M
¥22M
Comprehensive Income
—
¥2.2B
¥4.9B
¥1.8B
¥1.8B
EBITDA
¥4.4B
¥4.0B
¥4.4B
¥3.4B
¥4.1B
Goodwill Amort. (J-GAAP)
—
—
¥37M
¥148M
¥148M
EPS
¥297.49
¥289.60
¥307.83
¥181.26
¥291.13
Shares Outstanding
—
6.6M
6.6M
6.6M
6.6M
Shares Issued (total)
—
9.0M
9.0M
9.0M
9.0M
Treasury Shares
—
2.4M
2.4M
2.4M
2.4M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥68.0B
¥63.0B
¥61.0B
¥54.6B
¥54.7B
Current Assets
¥25.4B
¥25.3B
¥24.3B
¥24.0B
¥24.3B
Cash & Deposits
¥10.2B
¥9.3B
¥8.6B
¥7.8B
¥7.0B
Trade Receivables
—
¥6.9B
¥7.1B
¥7.0B
¥7.1B
Non-Current Assets
¥42.7B
¥37.7B
¥36.7B
¥30.6B
¥30.3B
PP&E
¥24.1B
¥22.5B
¥20.4B
¥19.0B
¥19.2B
Goodwill
—
—
—
¥37M
¥185M
Intangible Assets
—
¥153M
¥140M
¥118M
¥259M
Investment Securities
¥16.0B
¥13.2B
¥14.3B
¥10.3B
¥9.7B
Deferred Tax Assets
—
¥49M
¥43M
¥71M
¥18M
Total Liabilities
¥11.2B
¥11.3B
¥10.7B
¥8.5B
¥9.8B
Current Liabilities
¥6.7B
¥8.4B
¥7.9B
¥6.6B
¥7.5B
Taxes Payable
—
¥370M
¥395M
¥134M
¥404M
Non-Current Liabilities
¥4.5B
¥2.8B
¥2.8B
¥1.9B
¥2.3B
Pension Obligations
—
¥125M
¥99M
¥361M
¥962M
Deferred Tax Liab.
—
¥1.5B
¥1.6B
¥449M
¥221M
Total Equity
¥56.9B
¥51.7B
¥50.3B
¥46.1B
¥44.9B
Capital Stock
—
¥5.0B
¥5.0B
¥5.0B
¥5.0B
Capital Surplus
—
¥25.6B
¥25.6B
¥25.6B
¥25.7B
Retained Earnings
¥21.9B
¥20.6B
¥19.4B
¥18.0B
¥17.3B
Treasury Stock
—
¥-6.2B
¥-6.2B
¥-6.2B
¥-6.2B
AOCI
—
¥4.7B
¥4.7B
¥2.2B
¥1.6B
Equity (owners)
¥46.4B
¥45.1B
¥43.8B
¥42.4B
¥41.8B
Minority Interests
—
¥2.0B
¥1.8B
¥1.5B
¥1.5B
Net Cash ⓘ
¥10.2B
¥9.3B
¥8.6B
¥7.8B
¥7.0B
NCAV ⓘ
¥14.2B
¥14.0B
¥13.6B
¥15.5B
¥14.6B
NCAV/Share
—
¥2,110
¥2,054
¥2,336
¥2,196
BV/Share
—
¥6,795
¥6,612
¥6,395
¥6,305
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥4.6B
¥4.3B
¥3.6B
¥1.2B
¥2.4B
Interest Paid
—
¥-14M
¥-13M
¥-12M
¥-11M
Interest Received
—
¥325M
¥259M
¥210M
¥182M
D&A
¥1.8B
¥1.7B
¥1.6B
¥1.6B
¥1.5B
Goodwill Amort.
—
—
¥37M
¥148M
¥148M
Investing CF
¥-2.8B
¥-2.8B
¥-2.2B
¥-2.5B
¥-942M
CapEx
¥5.2B
¥3.0B
¥1.8B
¥1.7B
¥1.2B
Purchase Investments
—
¥-1.8B
¥-1.9B
¥-2.0B
¥-2.6B
Financing CF
¥-825M
¥-875M
¥-774M
¥-687M
¥-746M
Dividends Paid
—
¥-694M
¥-596M
¥-561M
¥-594M
Free Cash Flow
¥-591M
¥1.4B
¥1.8B
¥-533M
¥1.3B
Net Change in Cash
—
¥923M
¥860M
¥-1.8B
¥753M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
3.6%
3.9%
4.4%
2.7%
4.5%
ROA
3.0%
3.1%
3.5%
2.2%
3.5%
EPS
¥297.49
¥289.60
¥307.83
¥181.26
¥291.13
DPS
¥50.00
¥100.00
¥100.00
¥90.00
¥90.00
BPS
¥8,234.98
¥7,499.57
¥7,320.51
¥6,723.36
¥6,550.74
FCF/Share
—
¥208
¥275
¥-80
¥194
NCAV/Share
—
¥2,110
¥2,054
¥2,336
¥2,196
Payout Ratio
16.8%
34.5%
32.5%
49.7%
30.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 3
Date Activist Stake Event Flag Demands Source
2026-04-03
DOE5% Co., Ltd.
6.16%
+1.01%
change
Passive
—
2026-03-19
DOE5% Co., Ltd.
5.15%
initial_5pct
Passive
—
2024-01-12
Mitsui Chemicals, Inc.
6.43%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 12
#
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)
593
8.90%
2
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(三井住友信託銀行再信託分・三井化学株式会社退職給付信託口)
578
8.70%
3
Business Partner Stock Ownership Plan
群栄化学取引先持株会
533
8.00%
4
The Gunma Bank, Ltd.
株式会社群馬銀行(常任代理人 株式会社日本カストディ銀行)
304
4.60%
5
The Bank of Yokohama
株式会社横浜銀行(常任代理人 株式会社日本カストディ銀行)
245
3.70%
6
Mitsubishi UFJ Trust and Banking
三菱UFJ信託銀行株式会社(常任代理人 日本マスタートラスト信託銀行株式会社)
232
3.50%
7
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
215
3.30%
8
TOKYO OHKA KOGYO CO., LTD.
東京応化工業株式会社
168
2.50%
9
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)
157
2.40%
10
三菱瓦斯化学株式会社
148
2.20%
Domestic Nominees
20.9%
+1.2% 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
26.9%
-2.5% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Japan Custody Bank
日本カストディ銀行
11.70%
11.80%
12.00%
+0.20%
Japan Master Trust Bank
日本マスタートラスト信託銀行
8.50%
7.90%
8.90%
+1.00%
Business Partner Stock Ownership Plan
群栄化学取引先持株会
7.80%
7.80%
8.00%
+0.20%
The Gunma Bank, Ltd.
式会社群馬銀行
4.60%
4.60%
4.60%
The Bank of Yokohama
式会社横浜銀行
3.70%
3.70%
3.70%
Mitsubishi UFJ Trust and Banking
三菱UFJ信託銀行
3.50%
3.50%
3.50%
TOKYO OHKA KOGYO CO., LTD.
東京応化工業
2.50%
2.50%
2.50%
日本生命保険
NEW ENTRY
—
—
—
2.40%
NEW
三菱瓦斯化学
NEW ENTRY
—
—
—
2.20%
NEW
HIKARI TSUSHIN,INC.
光通信
last seen 2024
Exited Top 10
3.00%
4.90%
—
Mizuho Bank
みずほ銀行
last seen 2024
Exited Top 10
2.40%
2.40%
—
Concentration (HHI)
ⓘ
338
346
351
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥6,307M
+46% since 2023
Holdings
12
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥6,307M total
FY2023
¥4,327M total
Book Val ¥M
Shares
Book Val ¥M
Shares
TOKYO OHKA KOGYO CO., LTD.
東京応化工業株式会社
1,796
+200.0%
↑
580,200
1,487
193,400
M
OILES CORPORATION
オイレス工業株式会社
1,192
528,960
888
528,960
M
The Gunma Bank, Ltd.
株式会社群馬銀行
948
770,000
341
770,000
M
Mitsui Chemicals, Inc.
三井化学株式会社
630
188,600
643
188,600
M
株式会社コンコルディア・フィナンシャルグループ
513
523,000
255
523,000
M
MITSUBISHI GAS CHEMICAL COMPANY,INC.
三菱瓦斯化学株式会社
276
119,000
233
119,000
M
Mitsubishi UFJ Financial Group, Inc.
株式会社三菱UFJフィナンシャル・グループ
261
130,000
110
130,000
M
株式会社八十二銀行
232
220,000
126
220,000
M
Mizuho Financial Group, Inc.
株式会社みずほフィナンシャルグループ
169
-7.1%
↓
41,786
84
45,000
M
Sumitomo Mitsui Financial Group, Inc.
株式会社三井住友フィナンシャルグループ
161
+176.0%
↑
42,504
81
15,400
M
MS&AD Insurance Group Holdings, Inc.
MS&ADインシュアランスグループホールディングス株式会社
125
+110.0%
↑
39,060
76
18,600
M
Sojitz Corporation
双日株式会社
4
1,260
3
1,260
M
Portfolio total
6,307
4,327
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding