The Takigami Steel Construction Co.,Ltd.

瀧上工業株式会社

Metal Products

The Takigami Steel Construction Co., Ltd. designs, manufactures, and constructs bridges, steel frames, steel towers, and other steel structures primarily in Japan. It is also involved in construction work, as well as repair and reinforcement work. The Takigami Steel Construction Co., Ltd. was founded in 1895 and is headquartered in Handa, Japan.

← Companies

Price

¥7,190

Market Cap

¥15.1B

Ent. Value

¥12.9B

Net Cash

¥2.2B

Shares Out.

2.1M

P / E

78.4×

EV / EBIT

0.6×

⚠ TSE Capital Mandate

P / Book

0.34×

P / NCAV

3.16×

Div. Yield

1.39%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥22.0B	¥23.8B	¥23.3B	¥18.6B	¥14.7B
SG&A	—	¥2.1B	¥2.0B	¥1.9B	¥1.6B
Operating Income	¥22.0B	¥-389M	¥625M	¥363M	¥-197M
Non-Operating Income	—	¥793M	¥623M	¥484M	¥446M
Dividend Income	—	¥665M	¥526M	¥408M	¥359M
Interest Income	—	¥10M	¥14M	¥14M	¥13M
Non-Operating Expenses	—	¥66M	¥30M	¥22M	¥30M
Interest Expense	—	¥20M	¥4M	¥4M	¥2M
Ordinary Income	¥22.0B	¥337M	¥1.2B	¥825M	¥219M
Pre-tax Income	—	¥325M	¥1.4B	¥1.5B	¥212M
Income Taxes	—	¥124M	¥424M	¥449M	¥73M
Current Tax	—	¥301M	¥339M	¥522M	¥105M
Deferred Tax	—	¥-176M	¥85M	¥-72M	¥-31M
Net Income (owners)	¥1M	¥200M	¥986M	¥1.0B	¥138M
Comprehensive Income	—	¥125M	¥6.5B	¥1.4B	¥1.1B
EBITDA	—	¥468M	¥1.2B	¥976M	¥430M
Goodwill Amort. (J-GAAP)	—	¥40M	—	—	—
EPS	—	¥91.67	¥449.30	¥464.28	¥63.38
Shares Outstanding	—	2.1M	2.2M	2.2M	2.2M
Shares Issued (total)	—	2.7M	2.7M	2.7M	2.7M
Treasury Shares	—	0.6M	0.5M	0.5M	0.5M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	—	¥64.2B	¥58.5B	¥50.4B	¥48.8B
Current Assets	—	¥25.7B	¥22.2B	¥23.1B	¥22.5B
Cash & Deposits	—	¥6.9B	¥3.1B	¥8.2B	¥10.6B
Non-Current Assets	—	¥38.5B	¥36.3B	¥27.4B	¥26.3B
PP&E	—	¥16.8B	¥14.8B	¥13.6B	¥14.3B
Intangible Assets	—	¥64M	¥63M	¥79M	¥62M
Investment Securities	—	¥21.2B	¥21.1B	¥13.3B	¥11.6B
Total Liabilities	—	¥20.9B	¥13.9B	¥12.1B	¥11.7B
Current Liabilities	—	¥12.4B	¥6.4B	¥7.1B	¥6.8B
ST Debt	—	¥3.0B	—	—	—
Taxes Payable	—	¥143M	¥170M	¥452M	¥79M
Non-Current Liabilities	—	¥8.5B	¥7.5B	¥5.1B	¥5.0B
Total LT Borrowings	—	¥1.7B	¥672M	¥711M	¥666M
Pension Obligations	—	¥938M	¥924M	¥970M	¥972M
Deferred Tax Liab.	—	¥5.2B	¥5.2B	¥2.7B	¥2.6B
Total Equity	—	¥43.3B	¥44.6B	¥38.3B	¥37.1B
Capital Stock	—	¥1.4B	¥1.4B	¥1.4B	¥1.4B
Capital Surplus	—	¥470M	¥465M	¥403M	¥395M
Retained Earnings	—	¥34.9B	¥34.9B	¥34.2B	¥33.4B
Treasury Stock	—	¥-3.9B	¥-2.7B	¥-2.7B	¥-2.7B
AOCI	—	¥10.5B	¥10.6B	¥5.1B	¥4.7B
Equity (owners)	—	¥32.8B	¥34.0B	¥33.2B	¥32.4B

Total Interest-Bearing Debt ⓘ	—	¥4.7B	¥672M	¥711M	¥666M
Net Cash ⓘ	—	¥2.2B	¥2.5B	¥7.5B	¥10.0B
NCAV ⓘ	—	¥4.8B	¥8.2B	¥10.9B	¥10.8B
NCAV/Share	—	¥2,275	¥3,673	¥4,950	¥4,878
BV/Share	—	¥15,597	¥15,183	¥15,041	¥14,681

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	—	¥3.6B	¥-4.4B	¥-1.8B	¥1.7B
Interest Paid	—	¥-20M	¥-4M	¥-4M	¥-2M
Interest Received	—	¥673M	¥540M	¥422M	¥371M
D&A	—	¥817M	¥608M	¥613M	¥627M
Goodwill Amort.	—	¥40M	—	—	—
Investing CF	—	¥-2.5B	¥-388M	¥-292M	¥-1.4B
CapEx	—	¥2.3B	¥1.8B	¥1.9B	¥1.2B
Purchase Investments	—	¥-199M	¥-607M	¥-1.2B	¥-1.4B
Financing CF	—	¥2.6B	¥-304M	¥-325M	¥442M
Dividends Paid	—	¥-223M	¥-222M	¥-220M	¥-219M
Share Buybacks	—	¥-1.2B	¥-7M	¥-2M	¥-2M
LT Debt Repaid	—	¥-124M	¥-44M	¥-62M	¥-13M
Free Cash Flow	—	¥1.3B	¥-6.2B	¥-3.7B	¥497M
Net Change in Cash	—	¥3.7B	¥-5.1B	¥-2.4B	¥760M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	—	0.5%	2.4%	2.7%	0.4%
ROA	—	0.3%	1.8%	2.0%	0.3%
EPS	—	¥91.67	¥449.30	¥464.28	¥63.38
DPS	—	¥100.00	¥100.00	¥100.00	¥100.00
BPS	—	¥21,005.11	¥20,286.96	¥17,460.67	¥16,945.68
FCF/Share	—	¥616	¥-2,774	¥-1,692	¥225
NCAV/Share	—	¥2,275	¥3,673	¥4,950	¥4,878
Payout Ratio	—	109.1%	22.3%	21.5%	157.8%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 12

Date	Activist	Stake	Event	Flag	Demands
2026-03-03	OKAZAKI CAPITAL GP,LLC.	7.72%	change	Passive	—
2026-03-03	TAKIGAMI BOLT&NUT Co.,Ltd.	15.1%	correction	Passive	—
2026-02-27	TAKIGAMI BOLT&NUT Co.,Ltd.	15.1% +1.78%	change	Passive	—
2025-02-25	Black Clover Limited	—	exit	Passive	—
2025-02-21	Black Clover Limited	8.2% -5.94%	change	Passive	—
2025-02-17	TAKIGAMI BOLT&NUT Co.,Ltd.	13.32% +6.28%	change	Passive	—
2024-03-01	Okazaki Capital GP,LLC.	9.5%	correction	Passive	—
2024-02-22	TAKIGAMI BOLT&NUT Co.,Ltd.	7.04% -9.5%	change	Passive	—
2024-02-22	Okazaki Capital GP,LLC.	9.5%	initial_5pct	Passive	—
2024-02-02	TAKIGAMI BOLT&NUT Co.,Ltd.	16.54%	change	Passive	—
2024-01-29	TAKIGAMI BOLT&NUT Co.,Ltd.	16.54%	change	Passive	—
2023-10-05	Black Clover Limited	14.14%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-15 15:00	Special Div	¥148M ¥70.0/sh +40%	Takigami Kogyo announced a dividend increase for fiscal year ending March 31, 2026, with total per-share dividend of 70 …
Summary Takigami Kogyo announced a dividend increase for fiscal year ending March 31, 2026, with total per-share dividend of 70 yen (vs. 50 yen prior year), comprising a regular dividend of 50 yen plus a commemorative dividend of 20 yen marking the company's 130th anniversary. Total dividend payout is 147.6 billion yen, bringing full-year dividend to 120 yen including the interim dividend already paid. Deadline: 2026-06-29 YoY: +40% Source (JP) 当社は、2025年10月をもちまして創業130周年を迎えることができました。これまでの株主の皆様のご支援に対する感謝の意を表し、2026年３月期の期末配当金につきまして、１株当たり20円の記念配当を実施いたします。剰余金の配当（創業130周年記念配当による増配）に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	瀧上精機工業株式会社	359	17.09%
2	万年青投資事業有限責任組合	256	12.19%
3	株式会社ジーグ	110	5.23%
4	株式会社三菱ＵＦＪ銀行	103	4.94%
5	瀧上茂	95	4.52%
6	エムエム建材株式会社	69	3.28%
7	瀧上晶義	61	2.91%
8	株式会社ミック	47	2.24%
9	徳倉建設株式会社	45	2.16%
10	NIPPON STEEL CORPORATION 日本製鉄株式会社	42	2.04%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

0.0%

-1.9% 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

56.6%

-2.3% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
瀧上精機工業		20.19%	8.47%	17.09% +8.62%
万年青投資事業有限責任組合		—	11.43%	12.19% +0.76%
式会社ジーグ		4.98%	4.91%	5.23% +0.32%
式会社三菱ＵＦＪ銀行 NEW ENTRY	—	—	—	4.94% NEW
瀧上茂		4.46%	4.32%	4.52% +0.20%
エムエム建材		3.12%	3.08%	3.28% +0.20%
瀧上晶義		2.81%	2.75%	2.91% +0.16%
式会社ミック NEW ENTRY	—	—	—	2.24% NEW
徳倉建設 NEW ENTRY	—	—	—	2.16% NEW
NIPPON STEEL CORPORATION 日本製鉄		1.94%	1.91%	2.04% +0.13%
BLACK CLOVER LIMITED last seen 2024	Exited Top 10	—	17.43%	—
MUFG Bank 三菱UFJ銀行 last seen 2024	Exited Top 10	4.70%	4.63%	—
Japan Custody Bank 日本カストディ銀行 last seen 2024	Exited Top 10	—	1.94%	—
Black Clover Limited last seen 2023	Exited Top 10	15.20%	—	—
瀧上亮三 last seen 2023	Exited Top 10	1.55%	—	—
瀧上定隆 last seen 2023	Exited Top 10	1.63%	—	—
Concentration (HHI) ⓘ		732	595	546

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥14,703M +99% since 2023

Holdings 8

Trend 2 building vs 2023

Held Company	FY2025 ¥14,703M total		FY2023 ¥7,399M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Mitsubishi UFJ Financial Group, Inc. ㈱三菱ＵＦＪフィナンシャル・グループ	9,176	4,563,350	3,869	4,563,350	M
Mitsubishi Corporation 三菱商事㈱	4,730	+200.0% ↑ 1,800,972	2,852	600,324
MEIKO CONSTRUCTION CO.,LTD. 名工建設㈱	237	183,400	208	183,400	M
HANWA CO.,LTD. 阪和興業㈱	158	32,500	128	32,500	M
Tokura Construction Co. 徳倉建設㈱	147	30,600	97	30,600	M
Taiyo Kisokogyo Co.,Ltd. 太洋基礎工業㈱	115	+200.0% ↑ 62,400	132	20,800	M
KIKUKAWA ENTERPRISE,INC. キクカワエンタープライズ㈱	71	12,100	45	12,100	M
NIPPON STEEL CORPORATION 日本製鉄㈱	69	21,888	68	21,888	M
Portfolio total	14,703		7,399

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding