4645
ICHISHIN HOLDINGS CO., LTD.
株式会社市進ホールディングス
Services
Ichishin Holdings Co.,Ltd., through its subsidiaries, engages in the education business in Japan. The company operates cram schools for elementary school students, junior high school students, high school students, and high school graduates; entrance exam preparation classes for young children; and day and dementia group homes. It also engages in the planning and selling of video lesson content; and after-school care activities. In addition, the company operates Japanese language school; and a housing for the elderly, day service, and nursing and home visit care facilities. Ichishin Holdings Co.,Ltd. was founded in 1965 and is headquartered in Ichikawa, Japan.
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Overview
Filings & Signals
Ownership
Financials
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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
¥18.7B
¥18.5B
¥17.9B
¥17.3B
¥17.3B
Cost of Sales
¥15.6B
¥15.4B
¥14.9B
¥14.3B
¥14.3B
Gross Profit
¥3.1B
¥3.1B
¥3.1B
¥3.0B
¥3.0B
SG&A
¥2.2B
¥2.2B
¥2.1B
¥2.1B
¥2.2B
Operating Income
¥899M
¥918M
¥942M
¥894M
¥830M
Non-Operating Income
¥72M
¥66M
¥54M
¥62M
¥39M
Dividend Income
¥16M
¥22M
¥13M
¥10M
¥7M
Interest Income
¥20M
¥14M
¥12M
¥9M
¥6M
Non-Operating Expenses
¥219M
¥265M
¥234M
¥221M
¥176M
Interest Expense
¥125M
¥112M
¥107M
¥107M
¥115M
Ordinary Income
¥752M
¥719M
¥762M
¥735M
¥693M
Pre-tax Income
¥946M
¥529M
¥599M
¥580M
¥533M
Income Taxes
¥309M
¥200M
¥223M
¥206M
¥104M
Current Tax
¥307M
¥233M
¥176M
¥182M
¥244M
Deferred Tax
¥2M
¥-33M
¥47M
¥24M
¥-140M
Net Income (owners)
¥629M
¥317M
¥363M
¥366M
¥422M
Minority Interest
¥8M
¥12M
¥12M
¥7M
¥7M
Comprehensive Income
¥455M
¥451M
¥545M
¥408M
¥506M
EBITDA
¥1.5B
¥1.5B
¥1.5B
¥1.4B
¥1.5B
Goodwill Amort. (J-GAAP)
¥60M
¥60M
¥48M
¥44M
¥97M
EPS
¥77.27
¥35.84
¥36.55
¥36.19
¥41.72
Shares Outstanding
8.0M
8.1M
10.0M
10.0M
10.1M
Shares Issued (total)
10.6M
10.6M
10.6M
10.6M
10.6M
Treasury Shares
2.6M
2.5M
0.7M
0.6M
0.5M
Metric
FY 2025
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FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
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FY 2021
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Total Assets
¥13.4B
¥13.6B
¥13.0B
¥12.4B
¥12.7B
Current Assets
¥7.0B
¥6.4B
¥6.2B
¥5.7B
¥6.1B
Cash & Deposits
¥5.1B
¥4.4B
¥4.3B
¥4.1B
¥4.6B
Trade Receivables
¥909M
¥917M
¥836M
¥704M
—
Non-Current Assets
¥6.4B
¥7.2B
¥6.8B
¥6.7B
¥6.6B
PP&E
¥2.7B
¥2.9B
¥2.8B
¥2.7B
¥2.8B
Goodwill
¥159M
¥308M
¥254M
¥242M
¥249M
Intangible Assets
¥577M
¥675M
¥659M
¥677M
¥665M
Investment Securities
¥356M
¥907M
¥649M
¥473M
¥400M
Deferred Tax Assets
¥722M
¥597M
¥596M
¥665M
¥700M
Total Liabilities
¥10.9B
¥11.5B
¥10.3B
¥10.1B
¥10.6B
Current Liabilities
¥4.5B
¥4.2B
¥3.5B
¥3.3B
¥3.9B
ST Debt
¥1.3B
¥1.3B
¥969M
¥822M
¥1.3B
Taxes Payable
¥233M
¥146M
¥77M
¥84M
¥117M
Non-Current Liabilities
¥6.4B
¥7.3B
¥6.8B
¥6.8B
¥6.8B
Total LT Borrowings
¥4.6B
¥5.2B
¥4.6B
¥4.4B
¥4.2B
Pension Obligations
¥1.0B
¥1.2B
¥1.2B
¥1.3B
¥1.3B
Deferred Tax Liab.
—
—
—
¥28M
¥25M
Total Equity
¥2.5B
¥2.2B
¥2.7B
¥2.3B
¥2.1B
Capital Stock
¥1.5B
¥1.5B
¥1.5B
¥1.5B
¥1.5B
Capital Surplus
¥1.2B
¥1.2B
¥1.2B
¥1.2B
¥1.2B
Retained Earnings
¥729M
¥182M
¥-36M
¥-299M
¥-564M
Treasury Stock
¥-1.2B
¥-1.1B
¥-255M
¥-240M
¥-154M
AOCI
¥210M
¥392M
¥270M
¥101M
¥66M
Equity (owners)
¥2.3B
¥1.8B
¥2.4B
¥2.2B
¥2.0B
Minority Interests
¥57M
¥49M
¥37M
¥23M
¥15M
Total Interest-Bearing Debt ⓘ
¥6.0B
¥6.5B
¥5.6B
¥5.3B
¥5.5B
Net Cash ⓘ
¥-810M
¥-2.1B
¥-1.3B
¥-1.1B
¥-903M
NCAV ⓘ
¥-3.9B
¥-5.0B
¥-4.1B
¥-4.4B
¥-4.6B
NCAV/Share
¥-482
¥-617
¥-410
¥-439
¥-450
BV/Share
¥280
¥216
¥244
¥218
¥196
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.4B
¥1.2B
¥658M
¥856M
¥1.6B
Taxes Paid
¥-214M
¥1M
—
—
—
Interest Paid
¥-121M
¥-108M
¥-104M
¥-104M
¥-112M
Interest Received
¥36M
¥36M
¥24M
¥19M
¥14M
D&A
¥541M
¥546M
¥504M
¥497M
¥537M
Goodwill Amort.
¥60M
¥60M
¥48M
¥44M
¥97M
Investing CF
¥280M
¥-763M
¥-263M
¥-725M
¥-482M
CapEx
¥262M
¥298M
¥256M
¥307M
¥319M
Purchase Investments
¥-21M
¥-85M
¥-27M
¥-22M
¥-19M
Proceeds from Invest.
¥777M
—
¥113M
¥1M
¥0M
Financing CF
¥-927M
¥-357M
¥-225M
¥-609M
¥-277M
Dividends Paid
¥-81M
¥-100M
¥-100M
¥-101M
¥-81M
Share Buybacks
¥-90M
¥-892M
¥-48M
¥-109M
—
LT Debt Repaid
¥-1.3B
¥-1.2B
¥-1.5B
¥-833M
¥-969M
Free Cash Flow
¥1.1B
¥892M
¥402M
¥548M
¥1.3B
Net Change in Cash
¥721M
¥69M
¥173M
¥-476M
¥854M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
27.2%
13.1%
14.6%
16.9%
23.0%
ROA
4.6%
2.4%
2.9%
2.9%
3.3%
EPS
¥77.27
¥35.84
¥36.55
¥36.19
¥41.72
DPS
¥10.00
¥10.00
¥10.00
¥10.00
¥10.00
BPS
¥306.53
¥263.83
¥271.17
¥228.11
¥202.72
FCF/Share
¥137
¥109
¥40
¥55
¥127
NCAV/Share
¥-482
¥-617
¥-410
¥-439
¥-450
Payout Ratio
12.9%
27.9%
27.4%
27.6%
24.0%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2024-07-29
GAKKYUSHA CO.,LTD.
—
exit
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
株式会社学研ホールディングス
3,993
49.66%
2
梅田 威男
360
4.47%
3
市進グループ社員持株会
234
2.91%
4
株式会社ブルースカイ
200
2.48%
5
株式会社千葉銀行
146
1.81%
6
田代 英壽
100
1.24%
7
下屋 俊裕
84
1.04%
8
横田 浩二
56
0.70%
9
朝賀 万紀
55
0.68%
10
東方地所株式会社
53
0.65%
Domestic Nominees
0.0%
+0.0% vs 2025
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2025
Sub-custodians for foreign asset managers
Direct / Strategic
65.6%
-2.1% vs 2025
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
2026
式会社学研ホールディングス
40.04%
40.11%
49.03%
49.66%
+0.63%
梅田 威男
3.61%
3.61%
4.42%
4.47%
+0.05%
市進グループ社員持株会
2.77%
2.67%
2.74%
2.91%
+0.17%
式会社ブルースカイ
—
—
2.45%
2.48%
+0.03%
式会社千葉銀行
2.46%
1.46%
1.79%
1.81%
+0.02%
田代 英壽
1.00%
1.00%
1.22%
1.24%
+0.02%
下屋 俊裕
0.56%
0.64%
0.78%
1.04%
+0.26%
横田 浩二
0.57%
0.57%
0.69%
0.70%
+0.01%
朝賀 万紀
—
0.55%
0.67%
0.68%
+0.01%
東方地所
NEW ENTRY
—
—
—
—
0.65%
NEW
式会社ウィザス
last seen 2025
Exited Top 10
2.20%
2.21%
3.92%
—
式会社エデュ・リサーチ・アジア
last seen 2023
Exited Top 10
0.64%
—
—
—
式会社学究社
last seen 2024
Exited Top 10
21.66%
21.70%
—
—
Concentration (HHI)
ⓘ
2106
2109
2459
2508
4 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved