5943
NORITZ CORPORATION
株式会社ノーリツ
Metal Products
Noritz Corporation engages in the manufacture and sale of household appliances and equipment in Japan. The company provides water heaters, and heating ventilation and air conditioning systems, such as gas water and oil water heaters; hybrid water and space heating systems; solar heating systems; waste heat recovery systems for fuel cells; hydronic floor heating systems; and gas fan heaters, as well as bathroom heating, drying, and ventilation systems. It also offers kitchen appliances, including built-in and counter-top gas cookers, gas ovens, and range hoods. In addition, the company provides after-sales and product installation services. The company was incorporated in 1951 and is headquartered in Kobe, Japan.
Price
¥2,272
Market Cap
¥104.3B
Ent. Value
¥85.0B
Net Cash
¥19.3B
Shares Out.
45.9M
P / E
30.9×
EV / EBIT
19.8×
P / Book
0.74×
P / NCAV
3.26×
Div. Yield
3.26%
Financials
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥202.0B | ¥202.2B | ¥201.9B | ¥211.0B | ¥178.1B |
| Cost of Sales | ¥138.3B | ¥139.1B | ¥138.1B | ¥143.6B | ¥120.9B |
| Gross Profit | ¥63.7B | ¥63.1B | ¥63.8B | ¥67.3B | ¥57.2B |
| SG&A | ¥59.4B | ¥60.7B | ¥60.0B | ¥60.4B | ¥54.7B |
| Operating Income | ¥4.3B | ¥2.4B | ¥3.8B | ¥6.9B | ¥2.5B |
| Non-Operating Income | ¥1.9B | ¥1.8B | ¥1.8B | ¥2.0B | ¥1.9B |
| Dividend Income | ¥1.0B | ¥879M | ¥926M | ¥803M | ¥750M |
| Interest Income | ¥340M | ¥413M | ¥405M | ¥372M | ¥316M |
| Non-Operating Expenses | ¥656M | ¥631M | ¥4.4B | ¥948M | ¥462M |
| Interest Expense | ¥179M | ¥156M | ¥269M | ¥97M | ¥78M |
| Ordinary Income | ¥5.5B | ¥3.6B | ¥1.2B | ¥7.9B | ¥4.0B |
| Pre-tax Income | ¥5.5B | ¥7.1B | ¥3.0B | ¥7.7B | ¥8.9B |
| Income Taxes | ¥1.9B | ¥2.5B | ¥1.9B | ¥2.6B | ¥3.2B |
| Current Tax | ¥1.1B | ¥1.5B | ¥1.2B | ¥2.5B | ¥2.3B |
| Deferred Tax | ¥794M | ¥1.0B | ¥676M | ¥121M | ¥954M |
| Net Income (owners) | ¥3.4B | ¥4.4B | ¥868M | ¥4.8B | ¥5.5B |
| Minority Interest | ¥254M | ¥221M | ¥314M | ¥247M | ¥220M |
| Comprehensive Income | ¥12.5B | ¥12.9B | ¥9.6B | ¥9.3B | ¥7.7B |
| EBITDA | ¥12.3B | ¥10.3B | ¥11.6B | ¥13.8B | ¥8.9B |
| Goodwill Amort. (J-GAAP) | ¥235M | ¥341M | ¥317M | ¥300M | ¥257M |
| EPS | ¥73.51 | ¥94.89 | ¥18.84 | ¥104.64 | ¥119.12 |
| Shares Outstanding | 45.9M | 46.6M | 46.1M | 46.0M | 46.0M |
| Shares Issued (total) | 48.6M | 48.6M | 50.8M | 50.8M | 50.8M |
| Treasury Shares | 2.6M | 2.0M | 4.7M | 4.8M | 4.8M |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥237.1B | ¥223.8B | ¥207.8B | ¥217.0B | ¥194.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥124.1B | ¥126.3B | ¥121.5B | ¥132.2B | ¥112.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥25.6B | ¥29.0B | ¥26.1B | ¥36.3B | ¥43.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥45.8B | ¥44.2B | ¥44.0B | ¥43.4B | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥113.0B | ¥97.5B | ¥86.3B | ¥84.8B | ¥82.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥41.0B | ¥38.8B | ¥36.5B | ¥34.0B | ¥33.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥737M | ¥993M | ¥1.2B | ¥1.4B | ¥1.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥10.7B | ¥10.6B | ¥9.8B | ¥9.7B | ¥9.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥42.5B | ¥36.0B | ¥32.7B | ¥32.7B | ¥32.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥2.9B | ¥3.1B | ¥2.8B | ¥4.2B | ¥3.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥92.1B | ¥86.8B | ¥81.1B | ¥97.3B | ¥78.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥71.0B | ¥68.6B | ¥66.8B | ¥80.2B | ¥58.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥38.5B | ¥37.7B | ¥39.3B | ¥48.4B | ¥34.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥6.0B | ¥3.2B | ¥2.5B | ¥2.1B | ¥809M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥1.1B | ¥1.5B | ¥569M | ¥1.6B | ¥1.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥21.1B | ¥18.2B | ¥14.3B | ¥17.1B | ¥19.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥291M | ¥562M | — | — | ¥40M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥4.8B | ¥6.1B | ¥5.1B | ¥9.8B | ¥10.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥8.8B | ¥4.8B | ¥2.3B | ¥411M | ¥322M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥145.0B | ¥136.9B | ¥126.7B | ¥119.7B | ¥116.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥20.2B | ¥20.2B | ¥20.2B | ¥20.2B | ¥20.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥23.1B | ¥23.0B | ¥23.0B | ¥23.0B | ¥23.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥60.9B | ¥60.8B | ¥62.4B | ¥64.3B | ¥65.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-4.6B | ¥-3.5B | ¥-7.2B | ¥-7.5B | ¥-7.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥40.3B | ¥31.5B | ¥23.7B | ¥15.3B | ¥11.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥99.5B | ¥100.5B | ¥98.3B | ¥99.9B | ¥100.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥5.1B | ¥4.9B | ¥4.6B | ¥4.3B | ¥4.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥6.3B | ¥3.8B | ¥2.5B | ¥2.1B | ¥849M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥19.3B | ¥25.2B | ¥23.6B | ¥34.1B | ¥42.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥32.0B | ¥39.4B | ¥40.4B | ¥34.9B | ¥33.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥698 | ¥846 | ¥876 | ¥759 | ¥732 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥2,168 | ¥2,156 | ¥2,131 | ¥2,175 | ¥2,187 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥10.0B | ¥8.6B | ¥-1.9B | ¥2.4B | ¥15.4B |
| Interest Paid | ¥-164M | ¥-142M | ¥-286M | ¥-101M | ¥-85M |
| Interest Received | ¥1.3B | ¥1.3B | ¥1.3B | ¥1.2B | ¥1.0B |
| D&A | ¥7.8B | ¥7.6B | ¥7.4B | ¥6.6B | ¥6.1B |
| Goodwill Amort. | ¥235M | ¥341M | ¥317M | ¥300M | ¥257M |
| Investing CF | ¥-11.1B | ¥-6.0B | ¥-5.7B | ¥-7.8B | ¥-2.5B |
| CapEx | ¥6.2B | ¥7.0B | ¥7.7B | ¥4.4B | ¥3.6B |
| Financing CF | ¥-3.7B | ¥-2.5B | ¥-3.2B | ¥-4.8B | ¥-3.1B |
| Dividends Paid | ¥-3.3B | ¥-2.5B | ¥-2.8B | ¥-3.5B | ¥-2.3B |
| Share Buybacks | ¥-2.0B | ¥0M | ¥-1M | ¥-1.6B | ¥0M |
| LT Debt Repaid | ¥-271M | ¥-185M | ¥-40M | — | — |
| Free Cash Flow | ¥3.8B | ¥1.6B | ¥-9.6B | ¥-2.0B | ¥11.8B |
| Net Change in Cash | ¥-4.5B | ¥2.2B | ¥-10.0B | ¥-8.0B | ¥12.5B |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 2.5% | 3.5% | 0.7% | 4.2% | 5.0% |
| ROA | 1.5% | 2.0% | 0.4% | 2.3% | 2.8% |
| EPS | ¥73.51 | ¥94.89 | ¥18.84 | ¥104.64 | ¥119.12 |
| DPS | ¥74.00 | ¥69.00 | ¥53.00 | ¥53.00 | ¥83.00 |
| BPS | ¥3,058.39 | ¥2,852.62 | ¥2,644.38 | ¥2,508.08 | ¥2,433.96 |
| FCF/Share | ¥82 | ¥34 | ¥-208 | ¥-44 | ¥257 |
| NCAV/Share | ¥698 | ¥846 | ¥876 | ¥759 | ¥732 |
| Payout Ratio | 100.7% | 72.7% | 281.3% | 50.6% | 69.7% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 6
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱（信託口）
|
5,402 | 11.77% |
| 2 |
Business Partner Stock Ownership Plan
ノーリツ取引先持株会
|
2,400 | 5.23% |
| 3 |
Sumitomo Mitsui Banking Corporation
㈱三井住友銀行
|
1,739 | 3.79% |
| 4 | 第一生命保険㈱ | 1,612 | 3.51% |
| 5 |
CHOFU SEISAKUSHO CO.,LTD.
㈱長府製作所
|
1,520 | 3.31% |
| 6 |
NIPPON ACTIVE VALUE FUND PLC
ＮＩＰＰＯＮ ＡＣＴＩＶＥ ＶＡＬＵＥ ＦＵＮＤ ＰＬＣ (常任代理人 香港上海銀行東京支店)
|
1,500 | 3.27% |
| 7 |
STATE STREET BANK AND TRUST COMPANY
ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５１０３ (常任代理人 ㈱みずほ銀行決済営業部)
|
1,437 | 3.13% |
| 8 |
Employee Stock Ownership Plan
ノーリツ従業員持株会
|
1,314 | 2.86% |
| 9 | ノーリツ得意先持株会 | 1,126 | 2.45% |
| 10 | 日本電気硝子㈱ | 1,119 | 2.44% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
11.8%
+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
30.0%
+0.9% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 41.8% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 日本マスタートラスト信託銀行 | 10.58% | 9.85% | 11.77% +1.92% | |
| Business Partner Stock Ownership Plan ノーリツ取引先持株会 | 4.98% | 4.82% | 5.23% +0.41% | |
| Sumitomo Mitsui Banking Corporation 三井住友銀行 | 3.77% | 3.73% | 3.79% +0.06% | |
| 第一生命保険 | 4.99% | 3.46% | 3.51% +0.05% | |
| CHOFU SEISAKUSHO CO.,LTD. ㈱長府製作所 | 3.30% | 3.26% | 3.31% +0.05% | |
| NIPPON ACTIVE VALUE FUND PLC ＮＩＰＰＯＮ ＡＣＴＩＶＥ ＶＡＬＵＥ ＦＵＮＤ ＰＬＣ | — | 3.22% | 3.27% +0.05% | |
| STATE STREET BANK AND TRUST COMPANY ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５１０３ | — | 3.10% | 3.13% +0.03% | |
| Employee Stock Ownership Plan ノーリツ従業員持株会 | 2.80% | 2.76% | 2.86% +0.10% | |
| ノーリツ得意先持株会 NEW ENTRY | 3.49% | — | 2.45% NEW | |
| 日本電気硝子 | 2.43% | 2.40% | 2.44% +0.04% | |
| TOTO㈱ ＴＯＴＯ last seen 2024 | Exited Top 10 | 2.39% | 2.36% | — |
| 日本カストディ銀行 last seen 2023 | Exited Top 10 | 2.55% | — | — |
| Concentration (HHI) ⓘ | 225 | 196 | 244 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥38,295M
+28% since 2023
Holdings
44
4 exited
Trend
12 building
vs 2023
| Held Company | FY2025 ¥38,295M total | FY2023 ¥29,831M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Sumitomo Realty & Development Co.,Ltd.
住友不動産㈱
|
6,122 |
+100.0%
↑
1,557,200
|
3,265 | 778,600 | M |
|
Sumitomo Forestry Co., Ltd.
住友林業㈱
|
4,645 |
+200.0%
↑
2,895,000
|
4,055 | 965,000 | M |
|
TOTO LTD.
ＴＯＴＯ㈱
|
4,284 |
988,500
|
3,670 | 988,500 | M |
|
Sekisui House,Ltd.
積水ハウス㈱
|
2,954 |
844,650
|
2,645 | 844,650 | |
|
OSAKA GAS CO.,LTD.
大阪瓦斯㈱
|
2,676 |
493,000
|
1,451 | 493,000 | M |
|
TACHIBANA ELETECH CO.,LTD.
㈱立花エレテック
|
2,283 |
742,560
|
2,039 | 742,560 | M |
|
CHOFU SEISAKUSHO CO.,LTD.
㈱長府製作所
|
2,177 |
1,079,400
|
2,195 | 1,079,400 | M |
|
TOKYO GAS CO.,LTD.
東京瓦斯㈱
|
2,012 |
324,300
|
1,050 | 324,300 | M |
|
SINANEN HOLDINGS CO., LTD.
シナネンホールディングス㈱
|
1,409 |
223,770
|
939 | 223,770 | M |
|
Mitsuuroko Group Holdings Co.,Ltd.
㈱ミツウロコグループホールディングス
|
1,252 |
568,700
|
902 | 568,700 | M |
|
The Gunma Bank, Ltd.
㈱群馬銀行
|
1,124 |
651,000
|
449 | 651,000 | M |
|
Nippon Electric Glass Co., Ltd.
日本電気硝子㈱
|
1,077 |
175,000
|
530 | 175,000 | M |
|
IWATANI CORPORATION
岩谷産業㈱
|
810 |
+300.0%
↑
492,000
|
791 | 123,000 | M |
|
YUASA TRADING CO.,LTD.
ユアサ商事㈱
|
545 |
+5.5%
↑
102,306
|
459 | 96,941 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱ＵＦＪフィナンシャル・グループ
|
533 |
214,000
|
259 | 214,000 | M |
|
GLORY LTD.
グローリー㈱
|
459 |
116,100
|
312 | 116,100 | M |
| 第一生命ホールディングス㈱ | 433 |
+300.0%
↑
332,400
|
248 | 83,100 | M |
|
Resona Holdings, Inc.
㈱りそなホールディングス
|
423 |
283,366
|
203 | 283,366 | M |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
413 |
+200.0%
↑
82,122
|
188 | 27,374 | M |
|
DAIWA HOUSE INDUSTRY CO., LTD.
大和ハウス工業㈱
|
397 |
76,500
|
326 | 76,500 | M |
|
MIURA CO.,LTD.
三浦工業㈱
|
318 |
104,700
|
293 | 104,700 | M |
| 西部瓦斯㈱ | 254 |
112,918
|
220 | 112,918 | M |
|
Yamazaki Co., Ltd.
㈱山善
|
252 |
+5.1%
↑
170,238
|
193 | 162,020 | M |
|
NEW COSMOS ELECTRIC CO., LTD
新コスモス電機㈱
|
204 |
50,000
|
110 | 50,000 | M |
|
KYORITSU MAINTENANCE CO.,LTD.
㈱共立メンテナンス
|
193 |
+100.0%
↑
69,184
|
207 | 34,592 | |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
177 |
31,124
|
75 | 31,124 | M |
|
SHIZUOKA GAS CO., LTD.
静岡ガス㈱
|
135 |
112,500
|
115 | 112,500 | |
|
KAMEI CORPORATION
カメイ㈱
|
127 |
42,350
|
72 | 42,350 | M |
|
K&O Energy Group Inc.
Ｋ＆Ｏエナジーグループ㈱
|
118 |
30,904
|
68 | 30,904 | M |
|
JK Holdings Co.,Ltd.
ＪＫホールディングス㈱
|
99 |
73,456
|
76 | 73,456 | M |
|
DAIMARU.ENAWIN CO.,LTD.
大丸エナウィン㈱
|
84 |
48,100
|
60 | 48,100 | M |
|
HASHIMOTO SOGYO HOLDINGS CO.,LTD.
橋本総業ホールディングス㈱
|
69 |
+11.9%
↑
52,904
|
61 | 47,274 | M |
|
MITANI SANGYO CO.,LTD.
三谷産業㈱
|
64 |
113,740
|
38 | 113,740 | M |
|
SALA CORPORATION
㈱サーラコーポレーション
|
58 |
+5.2%
↑
51,500
|
35 | 48,960 | M |
|
NOZAWA CORPORATION
㈱ノザワ
|
53 |
50,500
|
44 | 50,500 | M |
|
OCHI HOLDINGS CO.,LTD.
ＯＣＨＩホールディングス㈱
|
19 |
13,500
|
19 | 13,500 | M |
|
Hokkaido Gas Co., Ltd.
北海道瓦斯㈱
|
16 |
+551.0%
↑
21,484
|
7 | 3,300 | |
|
DIAMOND ELECTRIC HOLDINGS CO.,LTD.
ダイヤモンドエレクトリックホールディングス㈱
|
13 |
24,000
|
16 | 24,000 | M |
|
TSUCHIYA HOLDINGS CO., LTD.
㈱土屋ホールディングス
|
6 |
28,028
|
6 | 28,028 | |
|
Mitsubishi Estate Company, Limited
三菱地所㈱
|
4 |
1,260
|
2 | 1,260 | |
|
TAKARA STANDARD CO.,LTD.
タカラスタンダード㈱
|
4 |
+15.9%
↑
1,474
|
2 | 1,272 | |
|
GEOLIVE Group Corporation
ジオリーブグループ㈱
|
— | — | |||
|
TOKAI Holdings Corporation
㈱ＴＯＫＡＩホールディングス
|
— | — | |||
|
Aica Kogyo Company, Limited
アイカ工業㈱
|
— | — | M | ||
|
Nice Corporation
ナイス㈱
|
— |
−100%
Exit
—
|
99 | 58,405 | M |
|
ASICS Corporation
㈱アシックス
|
— |
−100%
Exit
—
|
1,948 | 441,000 | M |
|
KEIYO GAS CO., LTD.
京葉瓦斯㈱
|
— |
−100%
Exit
—
|
75 | 28,500 | M |
|
GEOLIVE Group Corporation
ジオリーブグループ㈱（注）３
|
— |
−100%
Exit
—
|
14 | 11,500 | |
| Portfolio total | 38,295 | 29,831 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding