UNION TOOL CO.

ユニオンツール株式会社

Industrials · Tools & Accessories

Union Tool Co. designs, manufactures, and sells of cutting tools, linear motion products, and metal machining equipment in Japan, China, Taiwan, and internationally. The company offers printed circuit board (PCB) drills/routers, ULF coatings, diamond coated routers, and P series ultra precision micro-hole drills; PCB tools-related equipment; carbide end mills; linear motion products; and crossed roller guide and optical glass scale measuring instruments. It also provides roll dies and incremental dies, rack dies, rolled products, screw manufacturing dies, coating rods, and forging tools, as well as myBeat wearable heart rate sensors, heart rate variability analysis tool, and remote watching radar for small room. The company was formerly known as Union Chemical Research Co., Ltd. and changed its name to Union Tool Co. in 1971. Union Tool Co. was founded in 1955 and is headquartered in Shinagawa, Japan.

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Price

¥22,020

Market Cap

¥383.4B

Ent. Value

—

Net Cash est

—

Shares Out.

17.4M

P / E

62.2×

EV / EBIT

—

P / Book

4.79×

P / NCAV

10.23×

Div. Yield

0.59%

Financials

Metric	FY 2026 TDnet	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗
Net Sales	¥20.6B	¥40.2B	¥32.6B	¥25.3B	¥29.1B
Cost of Sales	—	¥24.1B	¥19.5B	¥16.4B	¥17.5B
Gross Profit	—	¥16.1B	¥13.1B	¥9.0B	¥11.6B
SG&A	—	¥7.4B	¥6.3B	¥5.2B	¥5.4B
Operating Income	¥20.6B	¥8.7B	¥6.9B	¥3.8B	¥6.2B
Non-Operating Income	—	¥539M	¥498M	¥519M	¥779M
Dividend Income	—	¥253M	¥179M	¥159M	¥126M
Interest Income	—	¥58M	¥64M	¥57M	¥39M
Non-Operating Expenses	—	¥1.1B	¥244M	¥224M	¥232M
Interest Expense	—	¥19M	¥14M	¥11M	¥11M
Ordinary Income	¥45.0B	¥8.1B	¥7.1B	¥4.1B	¥6.7B
Pre-tax Income	—	¥8.3B	¥6.9B	¥4.0B	¥7.4B
Income Taxes	—	¥2.2B	¥1.6B	¥955M	¥2.4B
Current Tax	—	¥2.3B	¥1.9B	¥924M	¥2.2B
Deferred Tax	—	¥-98M	¥-274M	¥31M	¥127M
Net Income (owners)	¥7.2B	¥6.1B	¥5.3B	¥3.1B	¥5.0B
Comprehensive Income	—	¥7.9B	¥7.4B	¥5.1B	¥6.0B
EBITDA	—	¥12.0B	¥9.8B	¥6.5B	¥8.8B
EPS	—	¥353.86	¥305.86	¥178.17	¥289.21
Shares Outstanding	—	17.4M	17.3M	17.3M	17.3M
Shares Issued (total)	—	19.8M	19.8M	19.8M	19.8M
Treasury Shares	—	2.4M	2.5M	2.5M	2.5M

Metric	FY 2026 TDnet	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗
Total Assets	—	¥88.2B	¥78.9B	¥70.6B	¥69.1B
Current Assets	—	¥45.7B	¥41.2B	¥39.5B	¥40.7B
Cash & Deposits	—	¥16.4B	¥18.0B	¥19.4B	¥21.0B
Trade Receivables	—	¥12.1B	¥9.7B	¥7.2B	¥7.2B
Non-Current Assets	—	¥42.5B	¥37.7B	¥31.1B	¥28.4B
PP&E	—	¥30.8B	¥26.3B	¥24.5B	¥22.5B
Intangible Assets	—	¥109M	¥74M	¥84M	¥60M
Investment Securities	—	¥10.6B	¥10.8B	¥6.1B	¥5.2B
Deferred Tax Assets	—	¥309M	¥230M	¥220M	¥435M
Total Liabilities	—	¥8.2B	¥5.7B	¥3.3B	¥5.5B
Current Liabilities	—	¥6.7B	¥5.0B	¥2.7B	¥4.9B
Accounts Payable	—	—	—	¥652M	¥934M
Taxes Payable	—	¥1.2B	¥1.3B	¥28M	¥1.5B
Non-Current Liabilities	—	¥1.5B	¥694M	¥624M	¥586M
Pension Obligations	—	¥253M	¥24M	¥25M	¥268M
Deferred Tax Liab.	—	¥775M	¥165M	¥187M	—
Total Equity	—	¥80.0B	¥73.1B	¥67.3B	¥63.6B
Capital Stock	—	¥3.0B	¥3.0B	¥3.0B	¥3.0B
Capital Surplus	—	¥3.6B	¥3.0B	¥3.0B	¥3.0B
Retained Earnings	—	¥69.6B	¥65.6B	¥61.8B	¥60.1B
Treasury Stock	—	¥-6.4B	¥-6.7B	¥-6.7B	¥-6.7B
AOCI	—	¥10.1B	¥8.3B	¥6.2B	¥4.2B
Equity (owners)	—	¥69.9B	¥64.8B	¥61.1B	¥59.4B

Net Cash ⓘ	—	¥16.4B	¥18.0B	¥19.4B	¥21.0B
NCAV ⓘ	—	¥37.5B	¥35.5B	¥36.2B	¥35.2B
NCAV/Share	—	¥2,152	¥2,054	¥2,096	¥2,038
BV/Share	—	¥4,012	¥3,753	¥3,534	¥3,440

Metric	FY 2026 TDnet	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗
Operating CF	—	¥7.5B	¥7.3B	¥4.7B	¥6.7B
Interest Paid	—	¥-20M	¥-15M	¥-6M	¥-11M
Interest Received	—	¥328M	¥261M	¥230M	¥181M
D&A	—	¥3.3B	¥2.9B	¥2.7B	¥2.6B
Investing CF	—	¥-6.8B	¥-7.3B	¥-5.0B	¥-2.0B
CapEx	—	¥7.4B	¥4.1B	¥4.5B	¥2.5B
Purchase Investments	—	¥-503M	¥-3.9B	¥-600M	¥-987M
Financing CF	—	¥-2.3B	¥-1.7B	¥-1.6B	¥-1.6B
Dividends Paid	—	¥-2.1B	¥-1.5B	¥-1.4B	¥-1.4B
Share Buybacks	—	¥-1M	¥-1M	¥0M	¥0M
Free Cash Flow	—	¥76M	¥3.2B	¥228M	¥4.2B
Net Change in Cash	—	¥-1.5B	¥-1.3B	¥-1.7B	¥3.7B

Metric	FY 2026 TDnet	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗
ROE	—	8.0%	7.5%	4.7%	8.1%
ROA	—	7.3%	7.1%	4.4%	7.5%
EPS	—	¥353.86	¥305.86	¥178.17	¥289.21
DPS	—	¥130.00	¥105.00	¥84.00	¥84.00
BPS	—	¥4,594.06	¥4,233.71	¥3,894.57	¥3,683.04
FCF/Share	—	¥4	¥184	¥13	¥242
NCAV/Share	—	¥2,152	¥2,054	¥2,096	¥2,038
Payout Ratio	—	36.7%	34.3%	47.1%	29.0%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 5

Date	Activist	Stake	Event	Flag	Demands
2026-05-21	Nomura Securities Co.,Ltd.	6.01%	initial_5pct	Passive	—
2026-04-16	takao katayama	39.09% -0.1%	change	Passive	—
2025-03-07	Asset Management One Co., Ltd.	4.02% -1.08%	change	Passive	—
2024-11-22	Asset Management One Co., Ltd.	5.1%	initial_5pct	Passive	—
2023-09-15	takao katayama	39.19%	change	Passive	—

#	Shareholder	Shares (thou.)	% of Total
1	株式会社晃永	6,138	35.25%
2	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)	1,227	7.05%
3	公益財団法人ユニオンツール育英奨学会	1,000	5.74%
4	片山貴雄	593	3.41%
5	Japan Custody Bank 株式会社日本カストディ銀行(信託口)	537	3.09%
6	株式会社きらぼし銀行	411	2.36%
7	MUFG Bank 株式会社三菱ＵＦＪ銀行	333	1.91%
8	野村證券株式会社	234	1.34%
9	MORGAN STANLEY & CO.LLC((常代)モルガン・スタンレーMUFG証券株式会社)	206	1.19%
10	Asahi Diamond Industrial Co.,Ltd. 旭ダイヤモンド工業株式会社	200	1.15%

as of 2025-12-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

10.1%

-4.4% 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

52.4%

-3.4% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
式会社晃永		35.53%	35.54%	35.25% -0.29%
Japan Master Trust Bank 日本マスタートラスト信託銀行		6.70%	7.88%	7.05% -0.83%
公益財団法人ユニオンツール育英奨学会		5.78%	5.79%	5.74% -0.05%
片山貴雄		3.43%	3.43%	3.41% -0.02%
Japan Custody Bank 日本カストディ銀行		5.65%	6.62%	3.09% -3.53%
式会社きらぼし銀行		3.96%	3.97%	2.36% -1.61%
MUFG Bank 式会社三菱ＵＦＪ銀行		1.92%	1.93%	1.91% -0.02%
野村證券 NEW ENTRY	—	—	—	1.34% NEW
Morgan Stanley NEW ENTRY	—	—	—	1.19% NEW
Asahi Diamond Industrial Co.,Ltd. 旭ダイヤモンド工業		1.67%	1.68%	1.15% -0.53%
みずほ銀行 last seen 2024	Exited Top 10	3.06%	2.19%	—
BNPパリバニューヨークブランチプライムブローカレッジクリアランスアカウント((常代)香港上海銀行東京支店カストディ業務部) last seen 2024	Exited Top 10	—	1.25%	—
Concentration (HHI) ⓘ		1416	1443	1360

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

Portfolio Book Value ¥5,194M +39% since 2023

Holdings 16 +7 new 10 exited

Trend 1 unwinding vs 2023

Held Company	FY2025 ¥5,194M total		FY2023 ¥3,750M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Mitsubishi UFJ Financial Group, Inc. 株式会社三菱UFJフィナンシャル・グループ	1,637	NEW New 656,960	—
Tokyo Kiraboshi Financial Group, Inc. 株式会社東京きらぼしフィナンシャルグループ	1,080	NEW New 124,200	—
Asahi Diamond Industrial Co.,Ltd. 旭ダイヤモンド工業株式会社	752	NEW New 904,032	—		M
HIRAKAWA HEWTECH CORP. 平河ヒューテック株式会社	518	NEW New 180,600	—		M
株式会社三井住友フィナンシャル・グループ	477	NEW New 94,800	—
Naito&Co.,Ltd. 株式会社ＮａＩＴＯ	375	-8.7% ↓ 2,820,800	438	3,090,800
IBIDEN CO.,LTD. イビデン株式会社	134	+100.0% ↑ 20,000	78	10,000
MITSUBISHI PENCIL CO.,LTD. 三菱鉛筆株式会社	94	43,500	90	43,500	M
Daishi Hokuetsu Financial Group,Inc. 株式会社第四北越フィナンシャルグループ	59	NEW New 36,624	—
OKASAN SECURITIES GROUP INC. 株式会社岡三証券グループ	50	NEW New 67,600	—
FUJI SEIKO LIMITED 富士精工株式会社	11	8,284	12	8,284	M
JADASON ENTERPRISES PTE LTD.	7	4,000,000	3	4,000,000
TOPPAN Holdings Inc. TOPPANホールディングス株式会社	—		—
MITSUBISHI MATERIALS CORPORATION 三菱マテリアル株式会社	—		—
TERAOKA SEISAKUSHO CO.,LTD. 株式会社寺岡製作所	—		—		M
CRESCO LTD. クレスコ株式会社	—		—
DISCO CORPORATION 株式会社ディスコ	—	−100% Exit —	157	4,500
Asahi Diamond Industrial Co.,Ltd. 旭ダイヤモンド工業株式会社	—	−100% Exit —	1,104	1,310,332	M
株式会社三菱UFJ フィナンシャル・グループ	—	−100% Exit —	795	656,960
株式会社東京きらぼしフィナンシャルグループ	—	−100% Exit —	493	124,200
HIRAKAWA HEWTECH CORP. 平河ヒューテック株式会社	—	−100% Exit —	227	172,000	M
株式会社三井住友フィナンシャル・グループ	—	−100% Exit —	217	31,600
TOPPAN ホールディングス株式会社	—	−100% Exit —	59	15,000
株式会社岡三証券グループ	—	−100% Exit —	46	67,600
株式会社第四北越フィナンシャルグループ	—	−100% Exit —	23	6,104
MITSUBISHI MATERIALS CORPORATION 三菱マテリアル株式会社	—	−100% Exit —	8	3,546
Portfolio total	5,194		3,750

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