6364

AIRMAN CORPORATION

株式会社ＡＩＲＭＡＮ
Machinery
Airman Corporation engages in the manufacture and sale of construction machinery, including construction equipment for heavy machinery and industrial machinery in Japan and internationally. The company also engages in the manufacture and sale of air compressors under the AIRMAN brand. In addition, the company offers engine compressors, engine generators, aerial work platforms, motor compressors, emergency generators, scissors lifters, and mini excavators. The company was formerly known as Hokuetsu Industries Co., Ltd. and changed its name to Airman Corporation in April 2025. The company was incorporated in 1938 and is headquartered in Tsubame, Japan.
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Price
¥1,681
Market Cap
¥47.4B
Ent. Value
¥42.7B
Net Cash
¥4.7B
Shares Out.
28.2M
P / E
8.2×
EV / EBIT
5.9×
P / Book
1.01×
P / NCAV
1.86×
Div. Yield
1.19%
Financials
Metric FY 2025
TDnet 		FY 2024
EDINET ↗ 		FY 2023
EDINET ↗ 		FY 2022
EDINET ↗ 		FY 2021
EDINET ↗
Net Sales ¥55.6B ¥54.8B ¥51.9B ¥49.0B ¥36.7B
Cost of Sales ¥40.4B ¥40.2B ¥38.4B ¥37.5B ¥27.1B
Gross Profit ¥15.2B ¥14.7B ¥13.5B ¥11.5B ¥9.5B
SG&A ¥8.0B ¥7.8B ¥7.3B ¥6.7B ¥6.0B
Operating Income ¥7.2B ¥6.9B ¥6.2B ¥4.8B ¥3.6B
Non-Operating Income ¥949M ¥396M ¥1.2B ¥573M ¥518M
Dividend Income — ¥148M ¥133M ¥104M ¥82M
Interest Income — ¥30M ¥40M ¥22M ¥6M
Non-Operating Expenses — ¥427M ¥24M ¥35M ¥33M
Interest Expense — ¥58M ¥12M ¥9M ¥8M
Ordinary Income ¥8.0B ¥6.9B ¥7.3B ¥5.4B ¥4.1B
Pre-tax Income ¥8.0B ¥6.9B ¥7.3B ¥5.4B ¥4.0B
Income Taxes ¥2.4B ¥2.1B ¥2.2B ¥1.6B ¥1.3B
Current Tax — ¥2.0B ¥2.4B ¥1.7B ¥1.3B
Deferred Tax — ¥20M ¥-190M ¥-47M ¥-35M
Net Income (owners) ¥5.6B ¥4.8B ¥5.1B ¥3.8B ¥2.7B
Minority Interest — ¥13M ¥16M ¥18M ¥16M
Comprehensive Income — ¥5.6B ¥5.7B ¥4.1B ¥2.5B
EBITDA ¥8.3B ¥8.0B ¥7.3B ¥5.8B ¥4.6B
EPS ¥204.99 ¥173.80 ¥182.16 ¥132.47 ¥95.76
Shares Outstanding — 28.2M 28.3M 28.6M 28.7M
Shares Issued (total) — 30.2M 30.2M 30.2M 30.2M
Treasury Shares — 2.0M 1.9M 1.6M 1.4M