5446
HOKUETSU METAL Co.,Ltd.
北越メタル株式会社
Iron & Steel
HOKUETSU METAL Co., Ltd. manufactures, processes, and sells iron and steel products in Japan. It offers steel bars for reinforced concrete; rolled steel materials for general structures; rolled steel bars for building structures; and mild steel wires bar-in coils, as well as shaped steel products, such as general and building structural shaped steel, and deformed shaped steel. The company also provides building and civil engineering materials, including UN, self-drilling, and steel pipe expansion type bolts; rebar processing assembly; UHY hoops and U-CON rings; fab deck; mechanical fixing hardware; turnbuckles; structural anchor bolts; TH pieces; automobile tire chains, and deformed steel bars, as well as bolt and fittings for various construction and civil engineering. In addition, the company is involved in the manufacture, processing, and sale of machinery; and collecting, transporting, processing, and selling of general and industrial wastes, and recycling products. Further, it engages in the warehousing, and truck and cargo transportation businesses. The company was incorporated in 1942 and is headquartered in Nagaoka, Japan.
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⚠ TSE Capital Mandate
P / Book
0.27×
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
¥28.7B
¥31.8B
¥31.0B
¥27.4B
Cost of Sales
¥24.9B
¥28.2B
¥26.9B
¥25.2B
Gross Profit
¥3.8B
¥3.7B
¥4.2B
¥2.1B
SG&A
¥3.2B
¥3.1B
¥3.1B
¥2.9B
Operating Income
¥668M
¥529M
¥1.0B
¥-763M
Non-Operating Income
¥160M
¥154M
¥118M
¥85M
Non-Operating Expenses
¥32M
¥25M
¥26M
¥20M
Interest Expense
¥22M
¥19M
¥18M
¥12M
Ordinary Income
¥797M
¥657M
¥1.1B
¥-698M
Pre-tax Income
¥773M
¥662M
¥1.1B
¥-755M
Income Taxes
¥201M
¥194M
¥104M
¥213M
Current Tax
¥184M
¥102M
¥169M
¥54M
Deferred Tax
¥16M
¥92M
¥-65M
¥159M
Net Income (owners)
¥572M
¥468M
¥1.0B
¥-968M
Comprehensive Income
¥880M
¥877M
¥1.2B
¥-789M
EBITDA
¥1.7B
¥1.6B
¥2.1B
¥224M
EPS
¥148.61
¥121.64
¥263.39
¥-252.05
Shares Outstanding
3.9M
3.9M
3.9M
3.9M
Shares Issued (total)
4.0M
4.0M
4.0M
4.0M
Treasury Shares
0.1M
0.1M
0.1M
0.1M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥26.7B
¥28.8B
¥28.0B
¥26.5B
Current Assets
¥13.0B
¥15.4B
¥15.2B
¥14.0B
Cash & Deposits
¥2.2B
¥2.8B
¥2.3B
¥2.7B
Trade Receivables
¥2.9B
¥3.6B
¥3.0B
¥2.1B
Non-Current Assets
¥13.7B
¥13.4B
¥12.7B
¥12.5B
PP&E
¥10.3B
¥10.3B
¥9.8B
¥9.7B
Intangible Assets
¥79M
¥39M
¥32M
¥23M
Investment Securities
¥2.2B
¥1.8B
¥1.5B
¥1.4B
Deferred Tax Assets
¥6M
¥9M
¥20M
¥2M
Total Liabilities
¥8.9B
¥11.8B
¥11.5B
¥11.2B
Current Liabilities
¥6.4B
¥9.1B
¥9.1B
¥8.3B
Accounts Payable
¥3.0B
¥5.0B
¥4.6B
¥4.7B
ST Debt
¥1.6B
¥2.2B
¥2.5B
¥2.0B
Taxes Payable
¥138M
¥38M
¥185M
¥30M
Non-Current Liabilities
¥2.5B
¥2.7B
¥2.4B
¥2.9B
Total LT Borrowings
¥1.1B
¥1.5B
¥1.4B
¥1.8B
Pension Obligations
¥793M
¥804M
¥881M
¥911M
Deferred Tax Liab.
¥390M
¥220M
¥1M
¥5M
Total Equity
¥17.8B
¥17.0B
¥16.4B
¥15.4B
Capital Stock
¥2.0B
¥2.0B
¥2.0B
¥2.0B
Capital Surplus
¥1.4B
¥1.4B
¥1.4B
¥1.4B
Retained Earnings
¥13.3B
¥12.8B
¥12.7B
¥11.8B
Treasury Stock
¥-157M
¥-160M
¥-168M
¥-172M
AOCI
¥1.2B
¥934M
¥525M
¥367M
Equity (owners)
¥16.6B
¥16.0B
¥15.9B
¥15.0B
Total Interest-Bearing Debt ⓘ
¥2.7B
¥3.7B
¥3.8B
¥3.8B
Net Cash ⓘ
¥-472M
¥-897M
¥-1.6B
¥-1.1B
NCAV ⓘ
¥4.1B
¥3.6B
¥3.7B
¥2.8B
NCAV/Share
¥1,044
¥916
¥937
¥718
BV/Share
¥4,218
¥4,086
¥4,050
¥3,822
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.6B
¥2.0B
¥899M
¥-2.5B
Interest Paid
¥-22M
¥-19M
¥-17M
¥-13M
Interest Received
¥69M
¥56M
¥57M
¥45M
D&A
¥1.1B
¥1.1B
¥1.1B
¥986M
Investing CF
¥-1.0B
¥-1.1B
¥-1.3B
¥-2.0B
CapEx
¥1.0B
¥1.3B
¥1.4B
¥2.0B
Purchase Investments
¥-4M
¥-3M
¥-3M
¥-34M
Proceeds from Invest.
¥2M
¥236M
¥29M
¥1M
Financing CF
¥-1.1B
¥-380M
¥-75M
¥1.0B
Dividends Paid
¥-59M
¥-333M
¥-121M
¥-39M
Share Buybacks
¥-0M
¥-0M
¥-0M
¥-0M
LT Debt Repaid
¥-658M
¥-544M
¥-450M
¥-450M
Free Cash Flow
¥612M
¥684M
¥-466M
¥-4.5B
Net Change in Cash
¥-532M
¥521M
¥-459M
¥-3.5B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
3.3%
2.8%
6.4%
-6.1%
ROA
2.1%
1.6%
3.7%
-3.6%
EPS
¥148.61
¥121.64
¥263.39
¥-252.05
DPS
¥45.00
¥35.00
¥85.00
¥6.00
BPS
¥4,620.53
¥4,409.15
¥4,272.33
¥4,001.79
FCF/Share
¥156
¥174
¥-119
¥-1,150
NCAV/Share
¥1,044
¥916
¥937
¥718
Payout Ratio
30.3%
28.8%
32.3%
—
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 4
Date Activist Stake Event Flag Demands Source
2025-07-23
Meiji Yasuda Life Insurance Company
4.01%
correction
Passive
—
2025-07-22
Meiji Yasuda Life Insurance Company
4.01%
-1.13%
change
Passive
—
2025-01-10
Meiji Yasuda Life Insurance Company
5.14%
initial_5pct
Passive
—
2023-10-06
Daishi Hokuetsu Bank, Ltd.
5.72%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-19
15:00
Div Cut
—
Hokushin Metal (5446) announced a dividend suspension for fiscal year ending March 31, 2026, with no final dividend paym…
Summary
Hokushin Metal (5446) announced a dividend suspension for fiscal year ending March 31, 2026, with no final dividend payment (0 yen per share) compared to 35 yen in the prior year. The company cited overall business performance and future business developments as reasons, departing from its dividend distribution policy. The interim dividend of 4 yen per share remains, resulting in total annual dividend of 4 yen versus 45 yen in the prior year.
YoY: -100%
Source (JP)
当期の期末配当金につきましては、当期の業績、今後の事業展開などを総合的に勘案いたしまして、誠に遺憾ではありますが無配とさせていただきました。
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
Shareholder
Shares (thou.)
% of Total
1
TOPY INDUSTRIES,LIMITED
トピー工業株式会社
1,322
33.69%
2
伊藤忠メタルズ株式会社
348
8.87%
3
Daishi Hokuetsu Bank,Ltd.
株式会社第四北越銀行
188
4.81%
4
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)
181
4.62%
5
MARUBENI ITOCHU STEEL CORPORATION
伊藤忠丸紅鉄鋼株式会社
173
4.43%
6
Sompo Japan Insurance Inc.
損害保険ジャパン株式会社
136
3.49%
7
Employee Stock Ownership Plan
北越メタル社員持株会
79
2.02%
8
株式会社関茂助商店
76
1.94%
9
Japan Custody Bank
株式会社日本カストディ銀行(信託E口)
73
1.87%
10
公益財団法人山口育英奨学会
55
1.42%
Domestic Nominees
6.5%
+1.7% 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
60.7%
-0.0% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
TOPY INDUSTRIES,LIMITED
トピー工業
33.69%
33.69%
33.69%
伊藤忠メタルズ
8.87%
8.87%
8.87%
Daishi Hokuetsu Bank,Ltd.
式会社第四北越銀行
6.16%
4.81%
4.81%
Japan Master Trust Bank
日本マスタートラスト信託銀行
1.85%
2.85%
4.62%
+1.77%
MARUBENI ITOCHU STEEL CORPORATION
伊藤忠丸紅鉄鋼
4.43%
4.43%
4.43%
Sompo Japan Insurance Inc.
損害保険ジャパン
3.49%
3.49%
3.49%
Employee Stock Ownership Plan
北越メタル社員持株会
1.97%
2.03%
2.02%
-0.01%
式会社関茂助商店
1.94%
1.94%
1.94%
Japan Custody Bank
日本カストディ銀行
2.08%
1.93%
1.87%
-0.06%
公益財団法人山口育英奨学会
1.42%
1.42%
1.42%
Concentration (HHI)
ⓘ
1301
1290
1303
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥1,995M
+57% since 2023
Holdings
7
Trend
2 building
vs 2023
Held Company
FY2025
¥1,995M total
FY2023
¥1,270M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Sompo Holdings, Inc.
SOMPOホールディングス㈱
916
+200.0%
↑
202,500
354
67,500
Daishi Hokuetsu Financial Group,Inc.
㈱第四北越フィナンシャルグループ
509
+22.2%
↑
161,200
381
131,877
フルサト・マルカホールディングス㈱
306
128,500
360
128,500
OKASAN SECURITIES GROUP INC.
㈱岡三証券グループ
189
284,928
134
284,928
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
63
15,484
29
15,484
FUKUDA CORPORATION
㈱福田組
12
2,244
10
2,244
TOMOE CORPORATION
㈱巴コーポレーション
1
1,100
0
1,100
Portfolio total
1,995
1,270
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding