ANEST IWATA Corporation

アネスト岩田株式会社

Machinery

← Companies

Price

¥1,631

Market Cap

¥64.6B

Ent. Value

¥44.9B

Net Cash

¥19.7B

Shares Out.

39.6M

P / E

12.0×

EV / EBIT

8.1×

P / Book

1.27×

P / NCAV

2.12×

Div. Yield

2.51%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥55.9B	¥54.4B	¥53.4B	¥48.5B	¥42.3B
Cost of Sales	¥29.8B	¥29.1B	¥28.9B	¥27.2B	¥24.1B
Gross Profit	¥26.1B	¥25.3B	¥24.5B	¥21.3B	¥18.2B
SG&A	¥20.6B	¥19.4B	¥18.3B	¥15.5B	¥13.4B
Operating Income	¥5.6B	¥5.9B	¥6.2B	¥5.8B	¥4.8B
Non-Operating Income	¥2.2B	¥1.4B	¥1.9B	¥1.3B	¥892M
Dividend Income	—	¥74M	¥63M	¥61M	¥65M
Interest Income	—	¥224M	¥183M	¥78M	¥61M
Non-Operating Expenses	—	¥182M	¥114M	¥108M	¥100M
Interest Expense	—	¥106M	¥72M	¥59M	¥58M
Ordinary Income	¥7.7B	¥7.1B	¥8.0B	¥7.0B	¥5.6B
Pre-tax Income	¥8.5B	¥7.3B	¥8.0B	¥7.1B	¥5.5B
Income Taxes	¥2.2B	¥1.9B	¥2.1B	¥1.8B	¥1.4B
Current Tax	—	¥1.8B	¥2.3B	¥1.9B	¥1.6B
Deferred Tax	—	¥79M	¥-286M	¥-68M	¥-247M
Net Income (owners)	¥5.4B	¥4.3B	¥4.9B	¥4.4B	¥3.5B
Minority Interest	—	¥1.1B	¥1.0B	¥888M	¥607M
Comprehensive Income	—	¥6.6B	¥8.2B	¥7.1B	¥5.9B
EBITDA	¥7.9B	¥8.4B	¥8.4B	¥7.9B	¥6.5B
Goodwill Amort. (J-GAAP)	—	¥186M	¥240M	¥286M	¥255M
EPS	¥136.04	¥108.21	¥122.13	¥108.25	¥86.32
Shares Outstanding	—	39.6M	40.0M	40.6M	40.8M
Shares Issued (total)	—	41.7M	41.7M	41.7M	41.7M
Treasury Shares	—	2.2M	1.8M	1.1M	0.9M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥74.6B	¥69.2B	¥66.1B	¥60.1B	¥55.8B
Current Assets	¥47.5B	¥45.2B	¥40.6B	¥36.8B	¥34.3B
Cash & Deposits	¥20.7B	¥21.3B	¥16.9B	¥14.5B	¥14.3B
Non-Current Assets	¥27.1B	¥24.0B	¥25.6B	¥23.4B	¥21.5B
PP&E	¥16.6B	¥15.1B	¥13.7B	¥12.5B	¥11.4B
Goodwill	—	¥600M	¥733M	¥757M	¥982M
Intangible Assets	—	¥3.2B	¥3.3B	¥3.2B	¥3.3B
Investment Securities	¥5.2B	¥3.2B	¥6.3B	¥5.5B	¥4.5B
Deferred Tax Assets	—	¥1.3B	¥1.2B	¥1.2B	¥1.2B
Total Liabilities	¥17.1B	¥15.6B	¥16.1B	¥14.9B	¥15.6B
Current Liabilities	¥13.7B	¥12.2B	¥12.8B	¥11.7B	¥11.6B
Accounts Payable	—	¥5.4B	¥5.7B	¥5.4B	¥5.2B
ST Debt	¥928M	¥866M	¥1.1B	¥908M	¥867M
Taxes Payable	—	¥350M	¥1.2B	¥889M	¥903M
Non-Current Liabilities	¥3.4B	¥3.5B	¥3.3B	¥3.2B	¥4.0B
Total LT Borrowings	¥145M	¥138M	¥48M	¥275M	¥284M
Pension Obligations	—	¥1.2B	¥1.2B	¥1.2B	¥2.2B
Deferred Tax Liab.	—	¥192M	¥186M	¥206M	¥229M
Total Equity	¥57.5B	¥53.6B	¥50.1B	¥45.3B	¥40.2B
Capital Stock	—	¥3.4B	¥3.4B	¥3.4B	¥3.4B
Capital Surplus	—	¥1.0B	¥1.0B	¥1.0B	¥1.0B
Retained Earnings	¥42.6B	¥39.7B	¥37.4B	¥34.3B	¥31.2B
Treasury Stock	—	¥-2.7B	¥-2.1B	¥-1.2B	¥-1.0B
AOCI	—	¥5.4B	¥4.4B	¥2.6B	¥1.0B
Equity (owners)	¥44.3B	¥41.4B	¥39.7B	¥37.5B	¥34.6B
Minority Interests	—	¥6.7B	¥5.9B	¥5.2B	¥4.6B

Total Interest-Bearing Debt ⓘ	¥1.1B	¥1.0B	¥1.2B	¥1.2B	¥1.2B
Net Cash ⓘ	¥19.7B	¥20.3B	¥15.7B	¥13.3B	¥13.2B
NCAV ⓘ	¥30.4B	¥29.6B	¥24.5B	¥21.9B	¥18.7B
NCAV/Share	—	¥747	¥613	¥539	¥458
BV/Share	—	¥1,047	¥995	¥922	¥847

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥8.1B	¥9.7B	¥6.8B	¥4.3B	¥3.9B
Interest Paid	—	¥-106M	¥-72M	¥-59M	¥-58M
Interest Received	—	¥298M	¥248M	¥140M	¥127M
D&A	¥2.3B	¥2.3B	¥2.0B	¥1.8B	¥1.5B
Goodwill Amort.	—	¥186M	¥240M	¥286M	¥255M
Investing CF	¥-4.3B	¥-3.3B	¥-1.3B	¥-3.3B	¥-1.1B
CapEx	¥3.2B	¥2.7B	¥1.8B	¥1.8B	¥867M
Purchase Investments	—	—	—	¥-300M	¥-0M
Proceeds from Invest.	—	¥1.0B	¥263M	—	¥284M
Financing CF	¥-3.9B	¥-3.9B	¥-3.6B	¥-2.4B	¥-2.1B
Dividends Paid	—	¥-2.0B	¥-1.8B	¥-1.3B	¥-1.0B
Share Buybacks	—	¥-768M	¥-891M	¥-159M	¥-341M
LT Debt Repaid	—	¥-158M	¥-90M	¥-35M	¥-39M
Free Cash Flow	¥4.9B	¥7.1B	¥5.0B	¥2.5B	¥3.0B
Net Change in Cash	—	¥3.1B	¥2.5B	¥-836M	¥1.3B

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	9.6%	9.4%	11.7%	11.6%	10.4%
ROA	7.4%	6.3%	7.8%	7.6%	6.3%
EPS	¥136.04	¥108.21	¥122.13	¥108.25	¥86.32
DPS	¥41.00	¥45.00	¥49.00	¥38.00	¥30.00
BPS	¥1,288.42	¥1,190.89	¥1,109.65	¥989.09	¥876.20
FCF/Share	—	¥179	¥124	¥61	¥74
NCAV/Share	—	¥747	¥613	¥539	¥458
Payout Ratio	30.1%	41.6%	40.1%	35.1%	34.8%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 6

Date	Activist	Stake	Event	Flag	Demands
2025-12-01	Mitsubishi UFJ Financial Group Inc.	6.85% -0.11%	change	Passive	—
2025-06-30	Mitsubishi UFJ Financial Group Inc.	6.96% -2.38%	change	Passive	—
2024-11-18	Mitsubishi UFJ Financial Group Inc.	9.34% +1.02%	change	Passive	—
2024-07-01	Mitsubishi UFJ Financial Group Inc.	8.32% +1.3%	change	Passive	—
2024-01-29	Mitsubishi UFJ Financial Group Inc.	7.02% +1.58%	change	Passive	—
2023-10-16	Mitsubishi UFJ Financial Group Inc.	5.44%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-12 15:30	Div Increase	¥1.8B ¥46.0/sh +93%	Anest Iwata announced a regular dividend of ¥46 per share for FY2026 (year ending March 31, 2026), with a record date of…
Summary Anest Iwata announced a regular dividend of ¥46 per share for FY2026 (year ending March 31, 2026), with a record date of March 31, 2026 and payment date of June 29, 2026. Total dividend payout is ¥1,821 million. Full-year dividend increases 93.3% to ¥87 per share (from ¥45 in prior year), targeting a Dividend on Equity (DOE) of 7.0%, reflecting a shift from dividend payout ratio to DOE-based policy with progressive dividend guidance of 7.0-7.5% through FY2028. Deadline: 2026-06-29 YoY: +93% Source (JP) 2026年３月期の期末配当金は、１株当たり46円00銭とすることを決議いたしました。これにより、当期の年間配当金は、前期実績の45円00銭から42円増配の１株当たり87円00銭、DOEは7.0%となります。剰余金の配当に関するお知らせ TDnet PDF

#	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）	4,911	12.40%
2	Dai-ichi Life Insurance 第一生命保険株式会社	2,272	5.70%
3	Stock Ownership Plan アネスト岩田得意先持株会	1,988	5.00%
4	Stock Ownership Plan アネスト岩田仕入先持株会	1,897	4.80%
5	Meiji Yasuda Life Insurance 明治安田生命保険相互会社	1,520	3.80%
6	Japan Custody Bank 株式会社日本カストディ銀行（信託口）	1,479	3.70%
7	THE BANK OF NEW YORK ＴＨＥＢＡＮＫＯＦＮＥＷＹＯＲＫ１３３６５２（常任代理人株式会社みずほ銀行決済営業部）	1,279	3.20%
8	ＮＯＲＴＨＥＲＮＴＲＵＳＴＣＯ．（ＡＶＦＣ）ＲＥＵＫＵＣＵＣＩＴＳＣＬＩＥＮＴＳＮＯＮＬＥＮＤＩＮＧ１０ＰＣＴＴＲＥＡＴＹＡＣＣＯＵＮＴ(常任代理人香港上海銀行東京支店カストディ業務部）	1,136	2.90%
9	Employee Stock Ownership Plan アネスト岩田従業員持株会	867	2.20%
10	KIA FUND 136 ＫＩＡＦＵＮＤ１３６（常任代理人シティバンク、エヌ・エイ東京支店）	801	2.00%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

16.1%

-2.2% 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

29.6%

+0.4% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
Japan Master Trust Bank 日本マスタートラスト信託銀行		12.60%	11.40%	12.40% +1.00%
Dai-ichi Life Insurance 第一生命保険		5.60%	5.70%	5.70%
Stock Ownership Plan アネスト岩田得意先持株会		4.80%	4.90%	5.00% +0.10%
Stock Ownership Plan アネスト岩田仕入先持株会		4.80%	4.60%	4.80% +0.20%
Meiji Yasuda Life Insurance 明治安田生命保険		3.70%	3.80%	3.80%
Japan Custody Bank 日本カストディ銀行		10.40%	6.90%	3.70% -3.20%
THE BANK OF NEW YORK ＴＨＥＢＡＮＫＯＦＮＥＷＹＯＲＫ１３３６５２		3.80%	4.10%	3.20% -0.90%
ＮＯＲＴＨＥＲＮＴＲＵＳＴＣＯ．（ＡＶＦＣ）ＲＥＵＫＵＣＵＣＩＴＳＣＬＩＥＮＴＳＮＯＮＬＥＮＤＩＮＧ１０ＰＣＴＴＲＥＡＴＹＡＣＣＯＵＮＴ NEW ENTRY	—	—	—	2.90% NEW
Employee Stock Ownership Plan アネスト岩田従業員持株会		2.10%	2.20%	2.20%
KIA FUND 136 ＫＩＡＦＵＮＤ１３６		—	1.90%	2.00% +0.10%
BNYMSANV RE MIL RE FSI ICVC－ST IV ASIA PAC AND JN SU FD ＢＮＹＭＳＡＮＶＲＥＭＩＬＲＥＦＳＩＩＣＶＣ－ＳＴＩＶＡＳＩＡＰＡＣＡＮＤＪＮＳＵＦＤ last seen 2024	Exited Top 10	—	2.00%	—
岩田一也 last seen 2023	Exited Top 10	1.90%	—	—
式会社大気社 last seen 2023	Exited Top 10	1.70%	—	—
Concentration (HHI) ⓘ		383	299	290

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

Portfolio Book Value ¥1,133M -41% since 2023

Holdings 7 2 exited

Trend 2 building vs 2023

Held Company	FY2025 ¥1,133M total		FY2023 ¥1,910M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Topre Corporation 東プレ株式会社	474	252,000	309	252,000	M
SUGIMOTO & CO.,LTD. 杉本商事株式会社	211	+100.0% ↑ 167,900	174	83,950	M
フルサト・マルカホールディングス株式会社	120	50,468	141	50,468	M
第一生命ホールディングス株式会社	111	+300.0% ↑ 98,000	59	24,500	M
YUASA TRADING CO.,LTD. ユアサ商事株式会社	103	22,800	86	22,800	M
MARUYAMA MFG.CO.,INC. 株式会社丸山製作所	73	35,906	64	35,906	M
TRUSCO NAKAYAMA CORPORATION トラスコ中山株式会社	41	21,082	47	21,082	M
Taikisha Ltd. 株式会社大気社	—	−100% Exit —	811	220,400	M
株式会社めぶきフィナンシャル・グループ	—	−100% Exit —	219	678,628
Portfolio total	1,133		1,910

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