4783
NCD Co., Ltd.
NCD株式会社
Information & Communication
NCD Co., Ltd. engages in the system development, support and service, and parking system businesses in Japan. It offers system construction solutions, package solutions, and application maintenance and operation solutions; infrastructure construction solutions, infrastructure maintenance and operation solutions, and business support solutions; and construction, operation, and management of bicycle parking lots, sales and operation of bicycle parking lot management systems, and bicycle-related consulting services. The company was formerly known as NCD Co., Ltd. and changed its name to NCD Co., Ltd. in December 2023. NCD Co., Ltd. was incorporated in 1967 and is headquartered in Tokyo, Japan.
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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
¥30.1B
¥25.5B
¥22.9B
¥20.6B
Cost of Sales
¥23.5B
¥20.3B
¥19.0B
¥17.3B
Gross Profit
¥6.6B
¥5.2B
¥3.8B
¥3.3B
SG&A
¥3.8B
¥3.0B
¥2.6B
¥2.4B
Operating Income
¥2.8B
¥2.1B
¥1.2B
¥903M
Non-Operating Income
¥72M
¥54M
¥49M
¥82M
Dividend Income
¥7M
¥6M
¥5M
¥5M
Interest Income
¥4M
¥4M
¥1M
¥0M
Non-Operating Expenses
¥29M
¥29M
¥32M
¥28M
Interest Expense
¥24M
¥24M
¥25M
¥22M
Ordinary Income
¥2.9B
¥2.1B
¥1.2B
¥957M
Pre-tax Income
¥2.9B
¥2.1B
¥984M
¥769M
Income Taxes
¥935M
¥693M
¥303M
¥299M
Current Tax
¥982M
¥735M
¥371M
¥438M
Deferred Tax
¥-47M
¥-42M
¥-68M
¥-139M
Net Income (owners)
¥1.9B
¥1.4B
¥672M
¥458M
Minority Interest
¥11M
¥13M
¥8M
¥11M
Comprehensive Income
¥2.0B
¥1.5B
¥690M
¥413M
EBITDA
¥3.3B
¥2.5B
¥1.5B
¥1.2B
Goodwill Amort. (J-GAAP)
¥42M
¥10M
¥11M
¥11M
EPS
¥232.95
¥170.38
¥83.31
¥56.78
Shares Outstanding
8.2M
8.2M
8.1M
8.1M
Shares Issued (total)
8.8M
8.8M
8.8M
8.8M
Treasury Shares
0.6M
0.6M
0.7M
0.7M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥16.1B
¥14.9B
¥12.4B
¥11.9B
Current Assets
¥12.6B
¥11.0B
¥8.6B
¥7.9B
Cash & Deposits
¥7.6B
¥5.9B
¥3.9B
¥3.9B
Trade Receivables
¥4.0B
¥3.6B
¥3.4B
¥2.8B
Non-Current Assets
¥3.5B
¥3.9B
¥3.8B
¥3.9B
PP&E
¥1.3B
¥1.5B
¥1.5B
¥1.4B
Goodwill
¥73M
¥115M
—
¥11M
Intangible Assets
¥271M
¥324M
¥239M
¥224M
Investment Securities
¥236M
¥204M
¥346M
¥331M
Deferred Tax Assets
¥1.3B
¥1.3B
¥1.1B
¥989M
Total Liabilities
¥8.2B
¥8.5B
¥7.3B
¥7.4B
Current Liabilities
¥5.7B
¥5.8B
¥4.9B
¥4.7B
ST Debt
¥800M
¥853M
¥807M
¥807M
Taxes Payable
¥657M
¥614M
¥203M
¥451M
Non-Current Liabilities
¥2.5B
¥2.7B
¥2.5B
¥2.7B
Total LT Borrowings
—
¥56M
—
—
Pension Obligations
¥1.4B
¥1.5B
¥1.2B
¥1.3B
Total Equity
¥7.9B
¥6.4B
¥5.0B
¥4.5B
Capital Stock
¥439M
¥439M
¥439M
¥439M
Capital Surplus
¥1.0B
¥1.0B
¥955M
¥955M
Retained Earnings
¥6.4B
¥5.0B
¥3.8B
¥3.3B
Treasury Stock
¥-229M
¥-229M
¥-270M
¥-270M
AOCI
¥192M
¥110M
¥35M
¥25M
Equity (owners)
¥7.6B
¥6.2B
¥5.0B
¥4.4B
Minority Interests
¥68M
¥57M
¥44M
¥36M
Total Interest-Bearing Debt ⓘ
¥800M
¥909M
¥807M
¥807M
Net Cash ⓘ
¥6.8B
¥5.0B
¥3.1B
¥3.1B
NCAV ⓘ
¥4.3B
¥2.5B
¥1.2B
¥527M
NCAV/Share
¥531
¥312
¥153
¥65
BV/Share
¥928
¥762
¥615
¥546
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥2.3B
¥2.6B
¥568M
¥1.9B
Interest Paid
¥-25M
¥-23M
¥-25M
¥-22M
Interest Received
¥12M
¥11M
¥6M
¥5M
D&A
¥406M
¥360M
¥338M
¥278M
Goodwill Amort.
¥42M
¥10M
¥11M
¥11M
Investing CF
¥361M
¥-100M
¥-172M
¥-48M
CapEx
¥239M
¥184M
¥540M
¥430M
Proceeds from Invest.
¥69M
—
—
—
Financing CF
¥-948M
¥-508M
¥-414M
¥-780M
Dividends Paid
¥-539M
¥-230M
¥-111M
¥-111M
LT Debt Repaid
¥-76M
¥-11M
—
¥-30M
Free Cash Flow
¥2.0B
¥2.4B
¥28M
¥1.5B
Net Change in Cash
¥1.7B
¥2.0B
¥-15M
¥1.1B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
27.0%
24.5%
14.3%
10.7%
ROA
12.3%
10.2%
5.5%
3.9%
EPS
¥232.95
¥170.38
¥83.31
¥56.78
DPS
¥70.00
¥50.00
¥20.00
¥14.00
BPS
¥951.77
¥775.87
¥619.62
¥549.14
FCF/Share
¥248
¥292
¥3
¥184
NCAV/Share
¥531
¥312
¥153
¥65
Payout Ratio
30.0%
29.3%
24.0%
24.7%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 12
Date Activist Stake Event Flag Demands Source
2026-03-19
Hikari Tsushin K.K.
9.67%
-0.49%
change
Passive
—
2026-03-03
Ascender Capital Limited
7.02%
-1.43%
change
Passive
—
2026-03-03
MIRI Capital Management LLC
8.91%
+1.75%
change
Passive
—
2026-02-06
MIRI Capital Management LLC
7.16%
+1.0%
change
Passive
—
2026-01-13
MIRI Capital Management LLC
6.16%
+1.09%
change
Passive
—
2026-01-05
MIRI Capital Management LLC
5.07%
initial_5pct
Passive
—
2026-01-05
Ascender Capital Limited
8.45%
+1.04%
change
Passive
—
2025-12-11
Ascender Capital Limited
7.41%
+1.01%
change
Passive
—
2025-09-26
Hikari Tsushin K.K.
10.16%
-0.67%
change
Passive
—
2025-03-12
Hikari Tsushin K.K.
10.83%
change
Passive
—
2025-02-28
Ascender Capital Limited
6.4%
+1.09%
change
Passive
—
2025-02-14
Ascender Capital Limited
5.31%
initial_5pct
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-15
15:40
Cancellation
—
160,000 treasury shares to be cancelled.
Summary
160,000 treasury shares to be cancelled.
Shares: 160,000
Source (JP)
の種類
当社普通株式
2. 消却する株式の数
160,000 株
(消却前の発行済株式総数に対する割合 1.92%)
3. 消却予定日
2026 年 5 月 29 日
(ご参考)
消却後の発行済株式総数
8,140,000 株
消却後の自己株式数
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 5
#
Shareholder
Shares (thou.)
% of Total
1
HIKARI TSUSHIN,INC.
光通信株式会社
604
7.38%
2
株式会社北斗
430
5.25%
3
NCD Employee Stock Ownership Plan
NCD社員持株会
404
4.94%
4
STICHTING DEPOSITARY ASCENDER GLOBAL VALUE FUND(常任代理人 株式会社みずほ銀行)
326
3.99%
5
下 條 治
286
3.50%
6
小 黒 節 子
280
3.42%
7
山 田 正 勝
172
2.10%
8
UH Partners2
株式会社UH Partners2
159
1.94%
9
株式会社エスアイエル
157
1.93%
10
下 條 芳
155
1.89%
Domestic Nominees
0.0%
+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
36.3%
-0.1% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
HIKARI TSUSHIN,INC.
光通信
7.48%
7.38%
7.38%
式会社北斗
5.32%
5.25%
5.25%
NCD Employee Stock Ownership Plan
NCD社員持株会
4.97%
4.89%
4.94%
+0.05%
STICHTING DEPOSITARY ASCENDER GLOBAL VALUE FUND
NEW ENTRY
—
—
—
3.99%
NEW
下 條 治
3.20%
3.50%
3.50%
小 黒 節 子
3.46%
3.42%
3.42%
山 田 正 勝
2.13%
2.10%
2.10%
UH Partners2
式会社UH Partners2
—
4.16%
1.94%
-2.22%
式会社エスアイエル
1.95%
1.93%
1.93%
下 條 芳
1.92%
1.89%
1.89%
新 沼 吾 史
last seen 2024
Exited Top 10
—
1.93%
—
寺 内 吉 孝
last seen 2023
Exited Top 10
2.23%
—
—
式会社UH Partners 2
last seen 2023
Exited Top 10
4.22%
—
—
Concentration (HHI)
ⓘ
166
163
162
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥144M
+71% since 2023
Holdings
5
Trend
Stable
vs 2023
Held Company
FY2025
¥144M total
FY2023
¥84M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
62
31,000
26
31,000
NCS&A CO.,LTD.
NCS&A㈱
57
61,600
40
61,600
M
H.U. Group Holdings, Inc.
H.U.グループホールディングス㈱
13
4,600
12
4,600
Takasago Thermal Engineering Co., Ltd.
高砂熱学工業㈱
11
2,000
4
2,000
Seibu Gas Holdings Co.
西部ガスホールディングス㈱
1
700
1
700
Portfolio total
144
84
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding