5463
Maruichi Steel Pipe Co., Ltd.
丸一鋼管株式会社
Iron & Steel
Maruichi Steel Tube Ltd., together with its subsidiaries, manufactures and sells steel tubes, surface treated steel sheets, and poles in Japan, North America, and Asia. The company offers steel tubes for various applications, such as scaffolding, structural columns, automotive parts, greenhouse flaming, gas/water pipes, electrical conduits, tapered poles and other fabricated products, and surface treatment; and corrosion resistant steel sheets. It also provides steel structures comprising lighting poles, traffic light poles, lighting towers, traffic sign poles, and ETC gantries under the Maruichi Pole brand name. The company was incorporated in 1947 and is headquartered in Osaka, Japan.
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⚠ TSE Capital Mandate
P / Book
0.40×
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
¥261.6B
¥271.3B
¥273.4B
¥224.2B
Cost of Sales
¥217.8B
¥217.8B
¥226.7B
¥172.5B
Gross Profit
¥43.8B
¥53.5B
¥46.7B
¥51.7B
SG&A
¥20.9B
¥18.7B
¥16.7B
¥15.5B
Operating Income
¥22.9B
¥34.8B
¥30.0B
¥36.3B
Non-Operating Income
¥4.4B
¥4.2B
¥5.1B
¥2.9B
Dividend Income
¥1.8B
¥1.8B
¥2.4B
¥1.1B
Interest Income
¥945M
¥764M
¥238M
¥211M
Non-Operating Expenses
¥656M
¥673M
¥727M
¥727M
Interest Expense
¥81M
¥134M
¥212M
¥110M
Ordinary Income
¥26.6B
¥38.4B
¥34.4B
¥38.5B
Pre-tax Income
¥40.5B
¥38.4B
¥34.3B
¥38.2B
Income Taxes
¥12.2B
¥10.5B
¥9.4B
¥8.6B
Current Tax
¥17.3B
¥10.2B
¥10.1B
¥9.2B
Deferred Tax
¥-5.1B
¥273M
¥-783M
¥-658M
Net Income (owners)
¥27.0B
¥26.1B
¥24.2B
¥27.8B
Minority Interest
¥1.3B
¥1.7B
¥737M
¥1.9B
Comprehensive Income
¥18.1B
¥44.2B
¥28.4B
¥43.2B
EBITDA
¥30.3B
¥41.4B
¥36.4B
¥42.2B
Goodwill Amort. (J-GAAP)
¥26M
¥25M
¥37M
¥14M
EPS
¥338.28
¥327.81
¥303.38
¥340.83
Shares Outstanding
77.4M
79.7M
79.6M
79.9M
Shares Issued (total)
84.0M
84.0M
84.0M
84.0M
Treasury Shares
6.6M
4.3M
4.4M
4.1M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥425.6B
¥429.5B
¥393.2B
¥370.1B
Current Assets
¥226.6B
¥222.2B
¥217.4B
¥192.6B
Cash & Deposits
¥100.2B
¥91.9B
¥88.5B
¥71.0B
Trade Receivables
¥42.2B
¥45.4B
¥44.0B
¥42.5B
Non-Current Assets
¥199.1B
¥207.4B
¥175.8B
¥177.5B
PP&E
¥123.8B
¥104.1B
¥91.7B
¥86.8B
Goodwill
¥161M
¥175M
¥192M
¥318M
Intangible Assets
¥2.4B
¥2.1B
¥1.6B
¥1.7B
Investment Securities
¥66.6B
¥97.3B
¥79.0B
¥85.8B
Deferred Tax Assets
¥1.9B
¥1.2B
¥1.0B
¥820M
Total Liabilities
¥65.9B
¥69.0B
¥68.9B
¥62.5B
Current Liabilities
¥51.1B
¥49.2B
¥55.4B
¥50.0B
Accounts Payable
¥24.8B
¥30.2B
¥33.8B
¥34.5B
ST Debt
¥2.2B
¥3.1B
¥6.5B
¥2.9B
Taxes Payable
¥12.8B
¥3.6B
¥5.7B
¥5.2B
Non-Current Liabilities
¥14.8B
¥19.8B
¥13.5B
¥12.5B
Total LT Borrowings
¥1.5B
¥2.2B
¥1.7B
¥345M
Pension Obligations
¥3.6B
¥4.0B
¥3.8B
¥3.8B
Deferred Tax Liab.
¥723M
¥12.4B
¥6.9B
¥7.3B
Total Equity
¥359.7B
¥360.5B
¥324.2B
¥307.6B
Capital Stock
¥9.6B
¥9.6B
¥9.6B
¥9.6B
Capital Surplus
¥15.4B
¥13.4B
¥13.4B
¥15.8B
Retained Earnings
¥308.5B
¥292.0B
¥274.5B
¥258.0B
Treasury Stock
¥-20.9B
¥-10.9B
¥-11.1B
¥-10.1B
AOCI
¥31.6B
¥42.9B
¥27.0B
¥24.2B
Equity (owners)
¥312.6B
¥304.1B
¥286.5B
¥273.3B
Minority Interests
¥15.4B
¥13.4B
¥10.6B
¥10.0B
Total Interest-Bearing Debt ⓘ
¥3.7B
¥5.4B
¥8.1B
¥3.2B
Net Cash ⓘ
¥96.6B
¥86.5B
¥80.4B
¥67.8B
NCAV ⓘ
¥160.7B
¥153.1B
¥148.4B
¥130.1B
NCAV/Share
¥2,075
¥1,923
¥1,865
¥1,629
BV/Share
¥4,038
¥3,818
¥3,599
¥3,422
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥28.1B
¥35.7B
¥24.5B
¥15.1B
Interest Paid
¥-81M
¥-134M
¥-212M
¥-110M
Interest Received
¥4.0B
¥4.0B
¥2.9B
¥1.6B
D&A
¥7.4B
¥6.6B
¥6.3B
¥5.9B
Goodwill Amort.
¥26M
¥25M
¥37M
¥14M
Investing CF
¥13.7B
¥-21.0B
¥4.3B
¥-10.0B
Purchase Investments
¥-4.1B
¥-5.8B
¥-2.0B
¥-6.0B
Financing CF
¥-26.3B
¥-13.1B
¥-7.6B
¥-16.7B
Dividends Paid
¥-10.5B
¥-9.9B
¥-7.3B
¥-7.2B
Share Buybacks
¥-13.7B
¥-1M
¥-1.3B
¥-5.3B
LT Debt Repaid
¥-745M
¥-860M
¥-202M
¥-790M
Free Cash Flow
¥28.1B
¥35.7B
¥24.5B
¥15.1B
Net Change in Cash
¥17.7B
¥2.2B
¥22.0B
¥-11.0B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
7.8%
7.9%
7.9%
9.8%
ROA
6.3%
6.3%
6.3%
7.5%
EPS
¥338.28
¥327.81
¥303.38
¥340.83
DPS
¥131.00
¥131.00
¥109.50
¥91.00
BPS
¥4,456.57
¥4,355.22
¥3,936.89
¥3,719.99
FCF/Share
¥364
¥448
¥308
¥189
NCAV/Share
¥2,075
¥1,923
¥1,865
¥1,629
Payout Ratio
38.7%
40.0%
36.1%
26.7%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 5
Date Activist Stake Event Flag Demands Source
2026-05-07
YASUNORI YOSHIMURA
7.99%
+1.44%
change
Passive
—
2026-04-30
YASUNORI YOSHIMURA
6.55%
change
Passive
—
2025-03-21
Silchester International Investors LLP
5.31%
+0.31%
change
✓ Activist
—
2024-07-29
Mitsubishi UFJ Financial Group Inc.
5.72%
change
Passive
—
2024-01-05
Silchester International Investors LLP
5.0%
change
✓ Activist
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-13
15:30
Div Increase
¥5.0B ¥22.5/sh
Maruichi Steel Pipe Co., Ltd. announced a dividend of ¥22.50 per share (¥4.987 billion total) for FY2026 (ended Maruichi…
Summary
Maruichi Steel Pipe Co., Ltd. announced a dividend of ¥22.50 per share (¥4.987 billion total) for FY2026 (ended Maruichi 31, 2026), decided on May 13, 2026. On a split-adjusted basis, full-year dividend increases 2.7% YoY to ¥134.50 per share (¥67.50 interim + ¥67.00 prior interim), reflecting solid FY2026 performance aligned with the company's profit-based capital allocation policy.
Deadline: 2026-06-25
Source (JP)
2026年3月31日を基準日とする剰余金の配当を行うことを決議いたしました。1株当たり配当金22円50銭、配当金の総額4,987百万円。分割前換算は67円50銭、年間の分割前換算は134円50銭で前年比3円50銭の増配となります。
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 17
#
Shareholder
Shares (thou.)
% of Total
1
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)
8,114
10.48%
2
株式会社ヨシムラホールディングス
4,700
6.07%
3
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
4,371
5.64%
4
Sumitomo Mitsui Banking Corporation
株式会社三井住友銀行
3,900
5.03%
5
MUFG Bank
株式会社三菱UFJ銀行
3,304
4.26%
6
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行)
3,130
4.04%
7
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(三井住友信託銀行再信託分・JFEスチール株式会社退職給付信託口)
3,003
3.87%
8
CHINA STEEL CORPORATION
CHINA STEEL CORPORATION(常任代理人 シティバンク、エヌ・エイ)
2,000
2.58%
9
NORTHERN TRUST CO.(AVFC)RE SILCHESTERINTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST
NORTHERN TRUST CO.(AVFC)RE SILCHESTERINTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST(常任代理人 香港上海銀行)
1,929
2.49%
10
Stock Ownership Plan
丸一鋼管共栄持株会
1,627
2.10%
Domestic Nominees
20.0%
+0.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
6.5%
+1.9% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
20.0%
+0.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Japan Master Trust Bank
日本マスタートラスト信託銀行
11.50%
10.85%
10.48%
-0.37%
Japan Custody Bank
日本カストディ銀行
7.67%
8.58%
9.51%
+0.93%
式会社ヨシムラホールディングス
5.88%
5.88%
6.07%
+0.19%
Sumitomo Mitsui Banking Corporation
三井住友銀行
4.88%
4.88%
5.03%
+0.15%
MUFG Bank
三菱UFJ銀行
4.86%
4.13%
4.26%
+0.13%
State Street
↑
2.11%
2.20%
4.04%
+1.84%
CHINA STEEL CORPORATION
2.50%
2.50%
2.58%
+0.08%
Northern Trust
3.43%
2.42%
2.49%
+0.07%
Stock Ownership Plan
丸一鋼管共栄持株会
1.97%
1.97%
2.10%
+0.13%
Concentration (HHI)
ⓘ
299
288
314
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥33,113M
-19% since 2023
Holdings
17
+2 new
10 exited
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥33,113M total
FY2023
¥40,711M total
Book Val ¥M
Shares
Book Val ¥M
Shares
中國鋼鐵股份有限公司
7,807
77,281,773
10,459
77,281,773
M
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
7,622
+200.0%
↑
2,008,500
3,547
669,500
M
Mitsubishi Corporation
三菱商事㈱
4,492
+50.0%
↑
1,710,300
5,417
1,140,200
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
4,077
NEW
New
2,027,540
—
M
NAKAYAMA STEEL WORKS, LTD.
株式会社中山製鋼所
1,968
NEW
New
2,659,500
—
Sansei Technologies,Inc.
三精テクノロジーズ㈱
1,682
1,300,000
1,050
1,300,000
M
JFE Holdings,Inc.
JFEホールディングス㈱
1,433
-29.9%
↓
783,820
1,876
1,117,620
M
POSCO Holdings
1,010
35,680
1,353
35,680
Konoike Transport Co.,Ltd.
鴻池運輸㈱
885
330,000
491
330,000
M
Keihanshin Building Co., Ltd.
京阪神ビルディング㈱
544
400,000
478
400,000
M
SHIMANO INC.
㈱シマノ
491
23,400
728
23,400
M
MEIDENSHA CORPORATION
㈱明電舎
477
110,600
212
110,600
M
DAIFUKU CO.,LTD.
㈱ダイフク
416
+2.1%
↑
114,418
273
112,080
OKAYA&CO.,LTD.
岡谷鋼機㈱
118
+100.0%
↑
17,000
88
8,500
M
KANEMATSU CORPORATION
兼松㈱
91
36,172
59
36,172
M
NASU DENKI-TEKKO CO.,LTD.
那須電機鉄工㈱
—
—
M
Mazda Motor Corporation
マツダ㈱
—
—
TOYOTA TSUSHO CORPORATION
豊田通商㈱
—
−100%
Exit
—
5,499
978,500
M
INFRONEER Holdings Inc.
インフロニア・ホールディングス㈱
—
−100%
Exit
—
1,828
1,789,000
M
SAKATA SEED CORPORATION
㈱サカタのタネ
—
−100%
Exit
—
2,346
600,200
M
KOKUYO CO.,LTD.
コクヨ㈱
—
−100%
Exit
—
1,333
710,300
M
DAIWA HOUSE INDUSTRY CO., LTD.
大和ハウス工業㈱
—
−100%
Exit
—
728
234,000
M
NIPPON STEEL CORPORATION
日本製鉄㈱
—
−100%
Exit
—
645
207,000
Sekisui Jushi Corporation
積水樹脂㈱
—
−100%
Exit
—
145
70,000
Shinsho Corporation
神鋼商事㈱
—
−100%
Exit
—
127
22,000
M
TAKANO CO.,Ltd.
タカノ㈱
—
−100%
Exit
—
7
11,000
M
㈱三菱UFJフィナンシャル・グル-プ
—
−100%
Exit
—
2,022
2,385,340
M
Portfolio total
33,113
40,711
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding