5714
DOWA HOLDINGS CO.,LTD.
DOWAホールディングス株式会社
Nonferrous Metals
Dowa Holdings Co., Ltd. engages in the environmental management and recycling, nonferrous metals, electronic materials, metal processing, and heat treatment businesses. The company offers Incineration of industrial waste; landfilling of waste; melting and recycling of incinerated ash; surveys and remediation of soil; environmental consulting; recycling of metal and discarded household appliances; and treatment of automotive shredder dust services. It also provides gold, silver, copper, lead, tin, antimony, nickel sulfate, zinc, zinc alloys, indium, and sulfuric acid metals; recycling of platinum-group metals; and resource and raw material procurement services. In addition, the company offers high-purity materials, gallium arsenide wafers, infrared LEDs, and ultraviolet LEDs; electronic materials, including silver, copper, and conductive atomized powder; advanced fine materials, such as magnetic, carrier, ferrite, and compound oxide powder; and copper alloy strips, nickel alloy strips, reflow tin-plated strips, forged brass, as well as products. Further, it provides precious metal electroplating services; design, manufacture, marketing and maintenance of heat treatment facilities; and heat and surface treatment services. The company was formerly known as Dowa Mining Co., Ltd. and changed its name to Dowa Holdings Co., Ltd. in October 2006. Dowa Holdings Co., Ltd. was founded in 1884 and is headquartered in Tokyo, Japan.
Price
¥10,300
Market Cap
¥600.2B
Ent. Value
¥608.9B
Net Debt
−¥8.7B
Shares Out.
58.3M
P / E
22.6×
EV / EBIT
18.9×
P / Book
1.54×
P / NCAV
5.48×
Div. Yield
1.46%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥678.7B | ¥717.2B | ¥780.1B | ¥831.8B |
| Cost of Sales | ¥592.0B | ¥635.7B | ¥689.2B | ¥725.4B |
| Gross Profit | ¥86.6B | ¥81.4B | ¥90.8B | ¥106.4B |
| SG&A | ¥54.4B | ¥51.4B | ¥46.2B | ¥42.6B |
| Operating Income | ¥32.2B | ¥30.0B | ¥44.6B | ¥63.8B |
| Non-Operating Income | ¥14.9B | ¥17.9B | ¥13.8B | ¥14.9B |
| Dividend Income | ¥1.1B | ¥1.2B | ¥1.1B | ¥726M |
| Interest Income | ¥304M | ¥498M | ¥643M | ¥439M |
| Non-Operating Expenses | ¥3.5B | ¥3.2B | ¥2.9B | ¥2.6B |
| Interest Expense | ¥813M | ¥484M | ¥523M | ¥664M |
| Ordinary Income | ¥43.6B | ¥44.7B | ¥55.5B | ¥76.1B |
| Pre-tax Income | ¥38.6B | ¥43.8B | ¥45.9B | ¥77.1B |
| Income Taxes | ¥10.6B | ¥14.2B | ¥16.4B | ¥20.3B |
| Current Tax | ¥13.0B | ¥14.7B | ¥15.6B | ¥21.1B |
| Deferred Tax | ¥-2.5B | ¥-506M | ¥820M | ¥-831M |
| Net Income (owners) | ¥27.1B | ¥27.9B | ¥25.0B | ¥51.0B |
| Minority Interest | ¥911M | ¥1.7B | ¥4.5B | ¥5.8B |
| Comprehensive Income | ¥34.9B | ¥38.9B | ¥44.5B | ¥60.2B |
| EBITDA | ¥61.5B | ¥55.8B | ¥69.1B | ¥86.9B |
| Goodwill Amort. (J-GAAP) | ¥509M | ¥503M | ¥498M | ¥503M |
| EPS | ¥455.60 | ¥467.90 | ¥420.76 | ¥857.32 |
| Shares Outstanding | 58.3M | 58.3M | 58.2M | 58.2M |
| Shares Issued (total) | 62.0M | 62.0M | 62.0M | 62.0M |
| Treasury Shares | 3.7M | 3.7M | 3.8M | 3.8M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥673.5B | ¥632.8B | ¥655.3B | ¥657.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥367.0B | ¥341.9B | ¥379.0B | ¥383.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥43.6B | ¥75.1B | ¥38.8B | ¥36.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥92.3B | ¥85.6B | ¥89.5B | ¥99.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥306.5B | ¥290.9B | ¥276.2B | ¥274.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥208.6B | ¥194.1B | ¥173.2B | ¥168.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥1.7B | ¥2.2B | ¥2.7B | ¥3.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥8.9B | ¥10.2B | ¥11.1B | ¥9.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥76.7B | ¥76.1B | ¥78.8B | ¥79.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥7.9B | ¥6.0B | ¥6.5B | ¥9.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥257.5B | ¥244.0B | ¥294.7B | ¥328.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥201.7B | ¥178.1B | ¥209.2B | ¥228.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥49.0B | ¥51.7B | ¥52.0B | ¥63.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥30.0B | ¥26.4B | ¥27.0B | ¥27.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥7.1B | ¥7.6B | ¥5.5B | ¥12.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥55.8B | ¥65.9B | ¥85.5B | ¥100.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥22.3B | ¥30.5B | ¥52.8B | ¥70.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥21.8B | ¥22.5B | ¥21.0B | ¥20.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥3.1B | ¥4.0B | ¥3.5B | ¥2.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥416.0B | ¥388.8B | ¥360.6B | ¥328.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥36.4B | ¥36.4B | ¥36.4B | ¥36.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥23.9B | ¥24.8B | ¥25.2B | ¥25.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥302.0B | ¥282.7B | ¥263.5B | ¥246.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-5.0B | ¥-5.0B | ¥-5.0B | ¥-5.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥41.1B | ¥34.1B | ¥24.8B | ¥9.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥357.3B | ¥338.9B | ¥320.1B | ¥303.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥17.6B | ¥15.8B | ¥15.7B | ¥15.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥52.3B | ¥56.9B | ¥79.8B | ¥98.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-8.7B | ¥18.2B | ¥-40.9B | ¥-61.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥109.5B | ¥97.9B | ¥84.4B | ¥54.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥1,880 | ¥1,680 | ¥1,448 | ¥933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥6,132 | ¥5,817 | ¥5,496 | ¥5,215 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥12.8B | ¥118.6B | ¥50.7B | ¥59.9B |
| Taxes Paid | ¥-11.2B | ¥-7.0B | ¥-31.4B | ¥-15.0B |
| Interest Paid | ¥-905M | ¥-391M | ¥-528M | ¥-716M |
| Interest Received | ¥6.4B | ¥5.1B | ¥9.6B | ¥5.0B |
| D&A | ¥28.8B | ¥25.3B | ¥24.0B | ¥22.6B |
| Goodwill Amort. | ¥509M | ¥503M | ¥498M | ¥503M |
| Investing CF | ¥-41.4B | ¥-26.3B | ¥-30.3B | ¥-11.3B |
| CapEx | ¥45.9B | ¥36.4B | ¥29.7B | ¥28.9B |
| Purchase Investments | ¥-6M | ¥-6M | ¥-192M | ¥-103M |
| Proceeds from Invest. | ¥3.1B | ¥7.6B | ¥3.5B | ¥1.6B |
| Financing CF | ¥-4.1B | ¥-59.2B | ¥-19.8B | ¥-31.2B |
| Dividends Paid | ¥-7.8B | ¥-7.8B | ¥-7.8B | ¥-5.7B |
| Share Buybacks | ¥0M | ¥0M | ¥0M | ¥-1M |
| LT Debt Repaid | ¥-12.4B | ¥-8.3B | ¥-11.0B | ¥-35.9B |
| Free Cash Flow | ¥-33.0B | ¥82.2B | ¥21.0B | ¥31.0B |
| Net Change in Cash | ¥-31.8B | ¥34.0B | ¥2.0B | ¥18.4B |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 7.0% | 7.8% | 7.6% | 17.6% |
| ROA | 4.2% | 4.3% | 3.8% | 7.8% |
| EPS | ¥455.60 | ¥467.90 | ¥420.76 | ¥857.32 |
| DPS | ¥150.00 | ¥130.00 | ¥130.00 | ¥130.00 |
| BPS | ¥6,690.29 | ¥6,264.96 | ¥5,794.63 | ¥5,267.94 |
| FCF/Share | ¥-567 | ¥1,411 | ¥361 | ¥532 |
| NCAV/Share | ¥1,880 | ¥1,680 | ¥1,448 | ¥933 |
| Payout Ratio | 32.9% | 27.8% | 30.9% | 15.2% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 28
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-19
15:30
|
Special Div | ¥21.8B ¥368.0/sh +145% | DOWA Holdings resolved on 2026-05-19 to pay a dividend of ¥368 per share (¥21.766 billion total) with an effective date … | |
|
Summary
DOWA Holdings resolved on 2026-05-19 to pay a dividend of ¥368 per share (¥21.766 billion total) with an effective date of 2026-06-12, comprised of ordinary dividend (¥268) and special dividend (¥100). This represents a 145.3% increase year-over-year from ¥150 per share in the prior fiscal period, driven primarily by the one-time special dividend component.
YoY: +145%
Source (JP)
1株当たり配当金 368円00銭(普通配当 268円00銭)(特別配当 100円00銭)配当金総額 21,766百万円
剰余金の配当に関するお知らせ
TDnet PDF
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| # | 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)
|
9,524 | 15.83% |
| 2 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
5,912 | 9.83% |
| 3 |
Northern Trust Company
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST(香港上海銀行東京支店カストディ業務部)
|
3,959 | 6.58% |
| 4 | STATE STREET BANK AND TRUST COMPANY 505001(株式会社みずほ銀行決済営業部) | 3,229 | 5.37% |
| 5 |
Northern Trust Company
NORTHERN TRUST CO. (AVFC) RE U.S. TAX EXEMPTED PENSION FUNDS(香港上海銀行東京支店カストディ業務部)
|
2,366 | 3.93% |
| 6 |
FUJITA KANKO INC.
藤田観光株式会社
|
1,877 | 3.12% |
| 7 | 全国共済農業協同組合連合会 | 1,690 | 2.81% |
| 8 |
Northern Trust Company
NORTHERN TRUST CO. (AVFC) RE NON TREATY CLIENTS ACCOUNT(香港上海銀行東京支店カストディ業務部)
|
1,575 | 2.62% |
| 9 | BNP PARIBAS FINANCIAL MARKETS(BNPパリバ証券株式会社) | 1,299 | 2.16% |
| 10 |
Northern Trust Company
NORTHERN TRUST CO. (AVFC) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT(香港上海銀行東京支店カストディ業務部)
|
1,072 | 1.78% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
25.7%
-1.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
14.9%
-1.9% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
13.5%
+4.0% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 54.0% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 17.03% | 17.42% | 15.83% -1.59% | |
| Northern Trust | 17.99% | 16.85% | 14.91% -1.94% | |
| Japan Custody Bank 日本カストディ銀行 | 10.52% | 9.89% | 9.83% -0.06% | |
| みずほ銀行 ↑ | 3.51% | 2.02% | 5.37% +3.35% | |
| FUJITA KANKO INC. 藤田観光 | 3.12% | 3.12% | 3.12% | |
| 全国共済農業協同組合連合会 | 2.89% | 2.83% | 2.81% -0.02% | |
| BNP PARIBAS FINANCIAL MARKETS(BNPパリバ証券株式会社) NEW ENTRY | — | — | — | 2.16% NEW |
| Nippon Life Insurance 日本生命保険 last seen 2024 | Exited Top 10 | — | 1.54% | — |
| Concentration (HHI) ⓘ | 755 | 709 | 621 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥23,510M
+38% since 2023
Holdings
23
+2 new
2 exited
Trend
1 building
vs 2023
| Held Company | FY2025 ¥23,510M total | FY2023 ¥17,030M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
4,123 |
1,017,910
|
1,911 | 1,017,910 | M |
|
Shizuoka Financial Group, Inc.
㈱しずおかフィナンシャルグループ
|
3,917 |
2,413,774
|
2,295 | 2,413,774 | M |
|
JFE Holdings,Inc.
JFEホールディングス㈱
|
3,104 |
1,696,700
|
2,848 | 1,696,700 | |
|
Mizuho Leasing Company, Limited
みずほリース㈱(注)2
|
2,920 |
NEW
New
2,800,000
|
— | M | |
| MS ADインシュアランスグループホールディングス㈱ | 2,199 |
+200.0%
↑
682,005
|
933 | 227,335 | M |
|
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
|
1,858 |
2,561,021
|
829 | 2,561,021 | M |
|
Konoshima Chemical Co.,Ltd.
神島化学工業㈱
|
1,252 |
843,260
|
1,466 | 843,260 | M |
|
Resona Holdings, Inc.
㈱りそなホールディングス
|
740 |
575,193
|
367 | 575,193 | M |
|
IINO KAIUN KAISHA, LTD.
飯野海運㈱
|
721 |
724,000
|
726 | 724,000 | M |
|
The Gunma Bank, Ltd.
㈱群馬銀行
|
488 |
396,879
|
175 | 396,879 | M |
|
Maxell, Ltd.
マクセル㈱
|
440 |
241,500
|
371 | 241,500 | |
|
Tokai Kisen Co., Ltd.
東海汽船㈱
|
437 |
150,100
|
362 | 150,100 | |
|
Tokuyama Corporation
㈱トクヤマ
|
338 |
121,200
|
255 | 121,200 | M |
|
Chugin Financial Group, Inc.
㈱ちゅうぎんフィナンシャルグループ
|
267 |
160,405
|
142 | 160,405 | M |
|
Hirogin Holdings, Inc.
㈱ひろぎんホールディングス
|
177 |
146,245
|
91 | 146,245 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
129 |
64,250
|
54 | 64,250 | M |
|
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱
|
93 |
NEW
New
25,200
|
— | M | |
|
THE AKITA BANK,LTD.
㈱秋田銀行
|
90 |
35,301
|
62 | 35,301 | M |
|
PRESS KOGYO CO.,LTD.
プレス工業㈱
|
88 |
158,000
|
78 | 158,000 | M |
|
The Hyakujushi Bank,Ltd.
㈱百十四銀行
|
51 |
14,679
|
26 | 14,679 | M |
|
Nicchitsu Co., Ltd.
㈱ニッチツ
|
49 |
28,800
|
36 | 28,800 | M |
|
THE SHIGA BANK,LTD.
㈱滋賀銀行
|
29 |
5,694
|
15 | 5,694 | M |
|
MITSUBISHI MATERIALS CORPORATION
三菱マテリアル㈱
|
— | — | |||
|
Mizuho Leasing Company, Limited
みずほリース㈱
|
— |
−100%
Exit
—
|
3,931 | 1,120,000 | M |
| 三井住友トラスト・ホールディングス㈱ | — |
−100%
Exit
—
|
57 | 12,600 | M |
| Portfolio total | 23,510 | 17,030 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding