5162
ASAHI RUBBER INC.
株式会社朝日ラバー
Consumer Cyclical · Auto Parts
Asahi Rubber Inc. manufactures and sells industrial, and medical and sanitary rubber products in Japan. It operates through Industrial Rubber Business, and Medical and Sanitary Rubber Business segments. The company offers optical products, including ASA COLOR LED and ASACOLOR LED-EMMO, which are light source products; ASA COLOR LENS, a silicone lens solution; white silicone inks; light diffusion caps/color caps; and lamp caps for automotive interior lighting, as well as phosphor sheet/tubes. It also provides medical/life science products comprising silicone sheets, medical gaskets, check valves, and rubber plugs; and communication products, such as silicone rubber phantoms and soft protective covers. In addition, the company offers automotive rubber switches; flexible thermoelectric modules; products for wind turbine blades that include plasma actuators, divertor strips, and protective sheeting and shells; and molecular adhesion technology products, saporous foams, O-rings, and rubber for table tennis rackets. Asahi Rubber Inc. was founded in 1970 and is headquartered in Saitama, Japan.
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⚠ TSE Capital Mandate
P / Book
0.63×
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
¥7.6B
¥7.2B
¥7.2B
¥7.0B
Cost of Sales
¥6.0B
¥5.5B
¥5.4B
¥5.3B
Gross Profit
¥1.6B
¥1.7B
¥1.8B
¥1.7B
SG&A
¥1.6B
¥1.5B
¥1.6B
¥1.4B
Operating Income
¥2M
¥156M
¥185M
¥291M
Non-Operating Income
¥54M
¥53M
¥34M
¥33M
Dividend Income
¥5M
¥5M
¥6M
¥6M
Interest Income
¥3M
¥1M
¥0M
¥0M
Non-Operating Expenses
¥25M
¥14M
¥25M
¥11M
Interest Expense
¥10M
¥7M
¥7M
¥8M
Ordinary Income
¥31M
¥195M
¥195M
¥313M
Pre-tax Income
¥-272M
¥162M
¥215M
¥305M
Income Taxes
¥-36M
¥29M
¥12M
¥66M
Current Tax
¥34M
¥32M
¥40M
¥64M
Deferred Tax
¥-70M
¥-4M
¥-29M
¥2M
Net Income (owners)
¥-236M
¥134M
¥203M
¥238M
Comprehensive Income
¥-71M
¥227M
¥305M
¥337M
EBITDA
¥516M
¥590M
¥606M
¥746M
EPS
¥-51.74
¥29.38
¥44.75
¥52.56
Shares Outstanding
4.6M
4.6M
4.6M
4.6M
Shares Issued (total)
4.6M
4.6M
4.6M
4.6M
Treasury Shares
0.0M
0.0M
0.1M
0.1M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥9.3B
¥9.4B
¥9.4B
¥9.7B
Current Assets
¥5.1B
¥5.4B
¥5.1B
¥5.4B
Cash & Deposits
¥2.0B
¥2.3B
¥2.0B
¥2.4B
Trade Receivables
¥1.6B
¥1.6B
¥1.6B
¥1.5B
Non-Current Assets
¥4.2B
¥4.0B
¥4.3B
¥4.3B
PP&E
¥3.5B
¥3.3B
¥3.4B
¥3.4B
Intangible Assets
¥42M
¥58M
¥63M
¥76M
Investment Securities
¥198M
¥185M
¥394M
¥376M
Deferred Tax Assets
¥358M
¥316M
¥328M
¥314M
Total Liabilities
¥4.4B
¥4.4B
¥4.5B
¥5.0B
Current Liabilities
¥2.8B
¥2.6B
¥2.4B
¥2.5B
Accounts Payable
¥335M
¥299M
¥276M
¥338M
ST Debt
¥1.3B
¥1.0B
¥791M
¥955M
Taxes Payable
¥17M
¥17M
¥21M
¥47M
Non-Current Liabilities
¥1.6B
¥1.8B
¥2.1B
¥2.5B
Total LT Borrowings
¥588M
¥752M
¥1.1B
¥1.5B
Pension Obligations
¥945M
¥988M
¥978M
¥971M
Total Equity
¥4.9B
¥5.0B
¥4.9B
¥4.7B
Capital Stock
¥517M
¥517M
¥517M
¥517M
Capital Surplus
¥462M
¥462M
¥465M
¥465M
Retained Earnings
¥3.4B
¥3.7B
¥3.7B
¥3.6B
Treasury Stock
¥-34M
¥-35M
¥-55M
¥-55M
AOCI
¥517M
¥353M
¥260M
¥158M
Equity (owners)
¥4.4B
¥4.7B
¥4.6B
¥4.5B
Total Interest-Bearing Debt ⓘ
¥1.9B
¥1.8B
¥1.9B
¥2.4B
Net Cash ⓘ
¥80M
¥527M
¥85M
¥1M
NCAV ⓘ
¥655M
¥1.0B
¥576M
¥334M
NCAV/Share
¥143
¥228
¥126
¥73
BV/Share
¥950
¥1,021
¥1,014
¥990
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥483M
¥641M
¥433M
¥436M
Interest Paid
¥-10M
¥-7M
¥-7M
¥-8M
Interest Received
¥8M
¥6M
¥7M
¥6M
D&A
¥513M
¥433M
¥421M
¥455M
Investing CF
¥-747M
¥71M
¥88M
¥-214M
CapEx
¥928M
¥438M
¥288M
¥181M
Purchase Investments
¥-1M
¥-1M
¥-1M
¥-1M
Proceeds from Invest.
—
¥275M
—
—
Financing CF
¥38M
¥-240M
¥-619M
¥-762M
Dividends Paid
¥-92M
¥-91M
¥-91M
¥-91M
LT Debt Repaid
¥-767M
¥-848M
¥-1.0B
¥-1.2B
Free Cash Flow
¥-446M
¥204M
¥145M
¥255M
Net Change in Cash
¥-181M
¥495M
¥-65M
¥-500M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
-4.8%
2.7%
4.2%
5.2%
ROA
-2.5%
1.4%
2.1%
2.5%
EPS
¥-51.74
¥29.38
¥44.75
¥52.56
DPS
¥20.00
¥20.00
¥20.00
¥20.00
BPS
¥1,069.60
¥1,105.64
¥1,077.92
¥1,030.86
FCF/Share
¥-97
¥44
¥32
¥56
NCAV/Share
¥143
¥228
¥126
¥73
Payout Ratio
—
68.1%
44.7%
38.1%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 3
Date Activist Stake Event Flag Demands Source
2026-05-14
SHINBUNKINZOKU CO., LTD.
9.99%
+2.3%
change
Passive
—
2026-04-03
SHINBUNKINZOKU CO., LTD.
7.69%
+1.15%
change
Passive
—
2025-10-20
SHINBUNKINZOKU CO., LTD.
6.54%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 6
#
Shareholder
Shares (thou.)
% of Total
1
有限会社伊藤コーポレーション
477
10.40%
2
Employee Stock Ownership Plan
朝日ラバー従業員持株会
235
5.13%
3
佐藤 尚美
228
4.98%
4
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社
222
4.84%
5
Stock Ownership Plan
朝日ラバー共栄持株会
209
4.56%
6
The Toho Bank, Ltd.
株式会社東邦銀行
207
4.52%
7
The Musashino Bank, Ltd.
株式会社武蔵野銀行
196
4.28%
8
株式会社SBI証券
141
3.09%
9
横山 林吉
140
3.05%
10
Dai-ichi Life Insurance
第一生命保険株式会社
78
1.70%
Domestic Nominees
4.8%
+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
41.7%
+1.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
限会社伊藤コーポレーション
10.46%
10.40%
10.40%
Employee Stock Ownership Plan
朝日ラバー従業員持株会
4.64%
4.97%
5.13%
+0.16%
佐藤 尚美
5.01%
4.98%
4.98%
Japan Master Trust Bank
日本マスタートラスト信託銀行
4.87%
4.84%
4.84%
Stock Ownership Plan
朝日ラバー共栄持株会
—
4.58%
4.56%
-0.02%
The Toho Bank, Ltd.
式会社東邦銀行
4.54%
4.52%
4.52%
The Musashino Bank, Ltd.
式会社武蔵野銀行
4.30%
4.28%
4.28%
式会社SBI証券
NEW ENTRY
—
—
—
3.09%
NEW
横山 林吉
3.05%
3.05%
3.05%
Dai-ichi Life Insurance
第一生命保険
1.71%
1.70%
1.70%
亀本 尚志
last seen 2024
Exited Top 10
1.53%
1.52%
—
朝日ラバ―共栄持株会
last seen 2023
Exited Top 10
4.28%
—
—
Concentration (HHI)
ⓘ
252
255
264
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥196M
-12% since 2023
Holdings
6
4 exited
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥196M total
FY2023
¥223M total
Book Val ¥M
Shares
Book Val ¥M
Shares
TERUMO CORPORATION
テルモ㈱
67
+100.0%
↑
24,000
43
12,000
The Musashino Bank, Ltd.
㈱武蔵野銀行
57
17,500
39
17,500
M
第一生命ホールディングス㈱
43
+300.0%
↑
37,600
23
9,400
M
The Toho Bank, Ltd.
㈱東邦銀行
16
45,000
10
45,000
M
THE DAITO BANK, LTD.
㈱大東銀行
9
13,300
8
13,300
M
Stanley Electric Co.,Ltd.
スタンレー電気㈱
4
-90.5%
↓
1,274
39
13,355
㈱三菱UFJフィナンシャルグループ
—
−100%
Exit
—
32
38,000
譬ェ蠑丈シ夂、セ繧√�カ縺阪ヵ繧」繝翫Φ繧キ繝」繝ォ繧ー繝ォ繝シ繝�
㈱めぶきフィナンシャルグループ
—
−100%
Exit
—
19
58,500
M
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
—
−100%
Exit
—
9
5,000
Resona Holdings, Inc.
㈱りそなホールディングス
—
−100%
Exit
—
0
75
Portfolio total
196
223
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding