6458
SINKO INDUSTRIES LTD.
新晃工業株式会社
Industrials · Building Products & Equipment
Sinko Industries Ltd. manufactures, sells, and installs air conditioning equipment in Japan and internationally. The company offers air conditioners, heat pump-type air conditioning systems, desiccant dehuidifiers, fan coil units, heater units, air terminal units, heat exchangers, air purifiers, air terminal units, air purifiers, and clean room equipment, as well as natural refrigerant circulation systems. Sinko Industries Ltd. was incorporated in 1950 and is headquartered in Osaka, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥59.3B
¥57.0B
¥51.9B
¥44.8B
¥42.0B
Cost of Sales
¥36.7B
¥35.2B
¥32.8B
¥29.5B
¥27.1B
Gross Profit
¥22.6B
¥21.8B
¥19.1B
¥15.3B
¥14.9B
SG&A
¥13.2B
¥11.8B
¥10.5B
¥9.3B
¥9.1B
Operating Income
¥9.4B
¥10.0B
¥8.6B
¥6.0B
¥5.7B
Non-Operating Income
¥865M
¥801M
¥602M
¥651M
¥555M
Dividend Income
—
¥348M
¥251M
¥236M
¥199M
Interest Income
—
¥20M
¥18M
¥17M
¥11M
Non-Operating Expenses
—
¥173M
¥109M
¥109M
¥219M
Interest Expense
—
¥28M
¥21M
¥26M
¥29M
Ordinary Income
¥10.1B
¥10.6B
¥9.1B
¥6.5B
¥6.0B
Pre-tax Income
¥10.0B
¥11.5B
¥9.6B
¥6.6B
¥6.0B
Income Taxes
¥3.1B
¥3.4B
¥2.8B
¥2.1B
¥1.8B
Current Tax
—
¥3.5B
¥2.9B
¥2.1B
¥1.7B
Deferred Tax
—
¥-91M
¥-140M
¥-48M
¥138M
Net Income (owners)
¥6.8B
¥7.8B
¥6.6B
¥4.5B
¥4.1B
Minority Interest
—
¥289M
¥178M
¥16M
¥103M
Comprehensive Income
—
¥8.1B
¥9.0B
¥5.5B
¥4.7B
EBITDA
¥11.3B
¥11.7B
¥9.9B
¥7.2B
¥6.8B
Goodwill Amort. (J-GAAP)
—
¥144M
—
¥158M
¥158M
EPS
¥99.59
¥107.68
¥265.11
¥178.62
¥159.12
Shares Outstanding
—
71.4M
25.0M
25.5M
25.7M
Shares Issued (total)
—
77.4M
27.2M
27.2M
27.2M
Treasury Shares
—
5.9M
2.2M
1.7M
1.5M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥93.3B
¥85.0B
¥88.0B
¥77.5B
¥72.0B
Current Assets
¥46.3B
¥48.2B
¥51.7B
¥45.9B
¥42.1B
Cash & Deposits
¥17.4B
¥15.7B
¥17.7B
¥14.3B
¥14.1B
Trade Receivables
—
¥19.2B
¥18.6B
¥17.1B
¥15.5B
Non-Current Assets
¥46.9B
¥36.8B
¥36.3B
¥31.7B
¥29.9B
PP&E
¥25.1B
¥20.8B
¥19.1B
¥17.2B
¥16.6B
Goodwill
—
—
—
—
¥158M
Intangible Assets
—
¥1.2B
¥1.1B
¥959M
¥874M
Investment Securities
¥18.6B
¥13.2B
¥14.7B
¥12.0B
¥11.0B
Deferred Tax Assets
—
¥158M
¥99M
¥93M
¥106M
Total Liabilities
¥26.4B
¥20.7B
¥24.1B
¥19.8B
¥18.1B
Current Liabilities
¥13.3B
¥15.4B
¥18.5B
¥14.7B
¥12.7B
Accounts Payable
—
¥6.7B
¥5.4B
¥4.6B
¥3.9B
ST Debt
¥1.2B
¥1.1B
¥995M
¥1.1B
¥1.1B
Taxes Payable
—
¥2.2B
¥1.9B
¥1.2B
¥619M
Non-Current Liabilities
¥13.2B
¥5.3B
¥5.7B
¥5.2B
¥5.4B
Total LT Borrowings
¥1.2B
¥1.3B
¥1.6B
¥2.0B
¥2.5B
Pension Obligations
—
¥878M
¥859M
¥823M
¥799M
Deferred Tax Liab.
—
¥1.8B
¥2.0B
¥1.2B
¥931M
Total Equity
¥66.8B
¥64.3B
¥63.9B
¥57.7B
¥54.0B
Capital Stock
—
¥5.8B
¥5.8B
¥5.8B
¥5.8B
Capital Surplus
—
¥3.2B
¥6.1B
¥6.1B
¥6.1B
Retained Earnings
¥51.9B
¥51.7B
¥47.0B
¥42.2B
¥39.0B
Treasury Stock
—
¥-5.6B
¥-3.8B
¥-2.8B
¥-2.3B
AOCI
—
¥5.8B
¥6.0B
¥3.9B
¥3.0B
Equity (owners)
¥53.8B
¥55.2B
¥55.1B
¥51.3B
¥48.6B
Minority Interests
—
¥3.3B
¥2.8B
¥2.5B
¥2.4B
Total Interest-Bearing Debt ⓘ
¥2.4B
¥2.4B
¥2.6B
¥3.1B
¥3.6B
Net Cash ⓘ
¥15.0B
¥13.3B
¥15.1B
¥11.2B
¥10.5B
NCAV ⓘ
¥19.9B
¥27.4B
¥27.6B
¥26.0B
¥24.1B
NCAV/Share
—
¥384
¥1,103
¥1,021
¥936
BV/Share
—
¥773
¥2,205
¥2,013
¥1,889
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥8.0B
¥5.7B
¥8.9B
¥4.1B
¥3.6B
Taxes Paid
—
¥-3.1B
¥-2.3B
¥-1.5B
¥-1.8B
Interest Paid
—
¥-28M
¥-21M
¥-25M
¥-28M
Interest Received
—
¥368M
¥250M
¥234M
¥195M
D&A
¥1.8B
¥1.6B
¥1.3B
¥1.0B
¥958M
Goodwill Amort.
—
¥144M
—
¥158M
¥158M
Investing CF
¥-3.8B
¥261M
¥-2.2B
¥-1.7B
¥-1.2B
CapEx
¥6.2B
¥3.0B
¥2.5B
¥1.5B
¥1.0B
Purchase Investments
—
¥-43M
¥-20M
¥-22M
¥-22M
Proceeds from Invest.
—
—
¥666M
¥215M
¥56M
Financing CF
¥-2.5B
¥-8.2B
¥-3.4B
¥-2.3B
¥-2.3B
Dividends Paid
—
¥-3.1B
¥-1.8B
¥-1.3B
¥-1.3B
Share Buybacks
—
¥-4.8B
¥-1.0B
¥-551M
¥-483M
LT Debt Repaid
—
¥-395M
¥-497M
¥-490M
¥-456M
Free Cash Flow
¥1.8B
¥2.7B
¥6.4B
¥2.6B
¥2.6B
Net Change in Cash
—
¥-2.1B
¥3.4B
¥206M
¥140M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
10.4%
12.8%
11.3%
8.5%
8.1%
ROA
7.7%
9.0%
7.9%
6.0%
5.7%
EPS
¥99.59
¥107.68
¥265.11
¥178.62
¥159.12
DPS
¥20.00
¥86.00
¥105.00
¥57.00
¥50.00
BPS
¥943.32
¥862.26
¥2,469.30
¥2,187.08
¥2,015.13
FCF/Share
—
¥38
¥255
¥102
¥101
NCAV/Share
—
¥384
¥1,103
¥1,021
¥936
Payout Ratio
20.1%
79.9%
39.6%
31.9%
31.4%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 15
Date Activist Stake Event Flag Demands Source
2026-05-21
Nomura Securities Co.,Ltd.
8.46%
+0.38%
change
Passive
—
2026-05-14
KK MEIKO
18.77%
+1.3%
change
Passive
—
2026-04-20
Nomura Securities Co.,Ltd.
8.08%
+0.16%
change
Passive
—
2026-03-30
Mitsubishi UFJ Financial Group Inc.
6.12%
+1.01%
change
Passive
—
2026-03-16
Goodhart Partners LLP
4.75%
-1.02%
change
Passive
—
2026-02-19
Goodhart Partners LLP
5.77%
-1.16%
change
Passive
—
2025-10-28
Goodhart Partners LLP
6.93%
-1.01%
change
Passive
—
2025-09-05
Goodhart Partners LLP
7.94%
-1.01%
change
Passive
—
2025-05-22
Nomura Securities Co.,Ltd.
7.92%
-0.68%
change
Passive
—
2025-04-24
Goodhart Partners LLP
8.95%
-1.11%
change
Passive
—
2025-04-22
Nomura Securities Co.,Ltd.
8.6%
initial_5pct
Passive
—
2025-03-31
Mitsubishi UFJ Financial Group Inc.
5.11%
+0.93%
initial_5pct
Passive
—
2025-03-21
KK MEIKO
17.47%
change
Passive
—
2024-07-02
Goodhart Partners LLP
10.06%
change
Passive
—
2023-06-05
Mitsubishi UFJ Financial Group Inc.
4.18%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 9
#
Shareholder
Shares (thou.)
% of Total
1
株式会社明晃
13,521
18.92%
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)
7,148
10.00%
3
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505025(常任代理人 株式会社みずほ銀行 決済営業部)
5,712
7.99%
4
DAIKIN INDUSTRIES, LTD.
ダイキン工業株式会社
4,050
5.66%
5
MUFG Bank
株式会社三菱UFJ銀行
2,231
3.12%
6
Nippon Life Insurance
日本生命保険相互会社
1,864
2.60%
7
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
1,607
2.25%
8
Stock Ownership Plan
新晃持株会
1,188
1.66%
9
Northern Trust Company
NORTHERN TRUST CO.(AVFC) RE 009-016064-326 CLT(常任代理人 香港上海銀行東京支店 カストディ業務部)
1,171
1.64%
10
エフホールディングス株式会社
900
1.25%
Domestic Nominees
12.2%
-1.5% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
9.6%
+0.2% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
33.2%
-0.2% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社明晃
17.69%
18.03%
18.92%
+0.89%
Japan Master Trust Bank
日本マスタートラスト信託銀行
9.31%
10.76%
10.00%
-0.76%
State Street
5.78%
6.39%
7.99%
+1.60%
DAIKIN INDUSTRIES, LTD.
ダイキン工業
5.30%
5.40%
5.66%
+0.26%
MUFG Bank
式会社三菱UFJ銀行
3.58%
2.97%
3.12%
+0.15%
Nippon Life Insurance
日本生命保険
↑
2.43%
2.48%
2.60%
+0.12%
Japan Custody Bank
日本カストディ銀行
3.82%
3.00%
2.25%
-0.75%
Stock Ownership Plan
新晃持株会
1.86%
1.88%
1.66%
-0.22%
Northern Trust
2.83%
3.09%
1.64%
-1.45%
エフホールディングス
NEW ENTRY
—
—
—
1.25%
NEW
Goldman Sachs
last seen 2024
Exited Top 10
2.26%
2.63%
—
Concentration (HHI)
ⓘ
511
555
582
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥9,167M
+11% since 2023
Holdings
9
3 exited
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥9,167M total
FY2023
¥8,265M total
Book Val ¥M
Shares
Book Val ¥M
Shares
DAIKIN INDUSTRIES, LTD.
ダイキン工業㈱
3,349
207,500
4,908
207,500
M
Takasago Thermal Engineering Co., Ltd.
高砂熱学工業㈱
3,290
592,750
1,250
592,750
M
㈱大氣社
890
+102.6%
↑
389,574
707
192,247
DAI-DAN CO.,LTD.
ダイダン㈱
845
+100.0%
↑
227,930
269
113,965
ASAHI KOGYOSHA CO.,LTD.
㈱朝日工業社
416
+103.1%
↑
214,712
231
105,724
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
339
-49.9%
↓
168,640
285
336,640
M
㈱コンコルディア・フィナンシャルグループ
24
25,000
12
25,000
M
KAWASAKI SETSUBI KOGYO CO., LTD.
川崎設備工業㈱
14
15,600
8
15,600
KYOWANISSEI CO.,LTD.
㈱協和日成
—
—
TOTECH CORPORATION
東テク㈱
—
−100%
Exit
—
306
70,000
M
Central Japan Railway Company
東海旅客鉄道㈱
—
−100%
Exit
—
63
4,000
SANKI ENGINEERING CO.,LTD.
三機工業㈱
—
−100%
Exit
—
226
155,000
M
Portfolio total
9,167
8,265
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding