譬ェ蠑丈シ夂、セ繝吶Ν繝�繧ッ繧ケ繧ウ繝シ繝昴Ξ繝シ繧キ繝ァ繝ウ

5290 株式会社ベルテクスコーポレーション

Glass & Ceramics Products · Standard · TSE: Disclosed

PRICE: ¥1,434 · MKT CAP: ¥73.2B · P/E: 15.0x · P/B: 1.99x · DIV YIELD: 2.1%

PRICE — 5Y

Characteristics & Business Summary

Vertex Corporation manufactures and sells concrete secondary products in Japan. It operates through the Concrete Business, Pile Business, Slope Disaster Prevention Project, and Others segments. The Concrete Business segment engages in flood prevention and...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Net Sales	37,763	37,515	39,095	36,834	38,918
Operating Profit	5,291	6,144	5,561	5,727	6,286
Ordinary Profit	5,636	6,435	5,838	5,850	6,450
Net Profit	3,759	4,242	3,742	3,729	4,826
EPS	¥429	¥472	¥140	¥143	¥189
DPS	¥90	¥80	¥30	¥40	¥60

Balance Sheet & Valuation Highlights

Total Assets ¥52B

Net Assets (Equity) ¥37B

Equity Ratio 70.0%

ROE (Return on Equity) 14.0%

Cash & Equivalents ¥17B

Interest-Bearing Debt ¥4B

Capital Expenditure (CapEx) ¥1B

Depreciation & Amort. ¥1B

Major Shareholders

1. TAIHEIYO CEMENT CORPORATION 9.5%
2. GOLDMAN SACHS INTERNATIONAL 6.6%
3. GOLDMAN SACHS & CO. REG 6.5%
4. 一般財団法人ベルテクスグリーン財団 4.7%
5. Japan Custody Bank 2.9%
6. 株式会社岩崎清七商店 2.9%
7. NORTHERN TRUST CO.(AVFC) RE NON TREATY CLIENTS ACCOUNT 2.9%
8. Resona Bank 2.7%
9. 重田康光 2.4%
10. 仙波昌 2.0%

Activist Activity

VARECS Partners Limited 12.22%

2025-09-29 · change

VARECS Partners Limited 13.43%

2025-07-25 · change

VARECS Partners Limited 14.46%

2024-05-24 · change

VARECS Partners Limited 13.42%

2024-01-11 · change

United Managers Japan Inc. 0.0%

2024-01-11 · exit

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Revenues per share	¥4,309	¥4,173	¥1,463	¥1,415	¥1,524
FCF/Share	¥375	¥381	¥92	¥173	¥208
EPS	¥429	¥472	¥140	¥143	¥189
DPS	¥90	¥80	¥30	¥40	¥60
Capital Spending per share	¥107	¥175	¥53	¥42	¥41
Book Value per share	¥2,829	¥3,081	¥1,120	¥1,224	¥1,350
Common Shares Outstanding	9M	9M	27M	26M	26M

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024
Revenues (Net Sales)	¥38B	¥38B	¥39B	¥37B	¥39B
Operating Margin (%)	14.0%	16.4%	14.2%	15.5%	16.2%
Net Profit (owners)	¥4B	¥4B	¥4B	¥4B	¥5B
Net Profit Margin (%)	10.0%	11.3%	9.6%	10.1%	12.4%
Working Capital	¥10B	¥13B	¥12B	¥15B	¥19B
Total Debt (Interest-bearing)	¥5B	¥4B	¥5B	¥5B	¥4B
Net Worth (Common Equity)	¥25B	¥28B	¥30B	¥32B	¥34B
Return on Total Assets (ROA)	8.1%	8.9%	7.5%	7.2%	9.3%
Return on Common Equity (ROE)	15.2%	15.3%	12.5%	11.7%	14.0%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.