7018
Naikai Zosen Corporation
内海造船株式会社
Transportation Equipments
Naikai Zosen Corporation engages in shipbuilding business in Japan, Panama, Singapore, and internationally. It operates through Ship and Others segments. The company constructs ferries, container ships, product tankers, bulk carriers, general cargo ships, car carriers, refrigerated cargo ships, ro-ro ships, research vessels, car carriers, research and patrol vessels, LPG/LAG/LEG tankers, chemical tankers, and others. It is also involved in the repair and remodeling of ships and governmental vessels; civil engineering; construction; and hotel management activities. Naikai Zosen Corporation was founded in 1940 and is headquartered in Onomichi, 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
¥47.0B
¥44.6B
¥46.4B
¥37.6B
¥33.0B
Cost of Sales
¥42.6B
¥42.0B
¥42.0B
¥35.7B
¥31.4B
Gross Profit
¥4.4B
¥2.6B
¥4.4B
¥1.9B
¥1.6B
SG&A
¥1.3B
¥1.2B
¥1.2B
¥1.2B
¥1.2B
Operating Income
¥3.1B
¥1.4B
¥3.2B
¥765M
¥462M
Non-Operating Income
¥79M
¥85M
¥151M
¥81M
¥91M
Dividend Income
—
¥24M
¥21M
¥21M
¥13M
Interest Income
—
¥15M
¥0M
¥0M
¥0M
Non-Operating Expenses
—
¥322M
¥246M
¥209M
¥129M
Interest Expense
—
¥81M
¥97M
¥93M
¥100M
Ordinary Income
¥3.0B
¥1.2B
¥3.1B
¥638M
¥423M
Pre-tax Income
¥3.0B
¥1.1B
¥2.5B
¥1.0B
¥353M
Income Taxes
¥684M
¥126M
¥219M
¥311M
¥210M
Current Tax
—
¥115M
¥199M
¥281M
¥182M
Deferred Tax
—
¥11M
¥20M
¥30M
¥27M
Net Income (owners)
¥2.3B
¥1.0B
¥2.3B
¥737M
¥143M
Comprehensive Income
—
¥1.3B
¥2.4B
¥671M
¥17M
EBITDA
¥4.0B
¥2.2B
¥4.0B
¥1.6B
¥1.3B
EPS
¥1,356.60
¥600.56
¥1,333.94
¥435.07
¥84.49
Shares Outstanding
—
1.7M
1.7M
1.7M
1.7M
Shares Issued (total)
—
2.3M
2.3M
2.3M
2.3M
Treasury Shares
—
0.6M
0.6M
0.6M
0.6M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥47.1B
¥42.5B
¥43.8B
¥40.2B
¥36.8B
Current Assets
¥32.9B
¥28.5B
¥30.1B
¥26.7B
¥23.4B
Cash & Deposits
¥10.8B
¥4.7B
¥14.8B
¥9.3B
¥16.3B
Trade Receivables
—
¥20.0B
¥10.1B
¥12.7B
¥5.9B
Inventories
—
¥1M
¥2M
¥3M
¥1M
Non-Current Assets
¥14.2B
¥14.0B
¥13.7B
¥13.5B
¥13.4B
PP&E
¥12.1B
¥11.8B
¥11.1B
¥11.2B
¥10.7B
Intangible Assets
—
¥50M
¥61M
¥97M
¥140M
Investment Securities
¥1.3B
¥1.0B
¥979M
¥837M
¥2.2B
Total Liabilities
¥33.6B
¥31.6B
¥34.1B
¥32.8B
¥30.0B
Current Liabilities
¥30.0B
¥26.4B
¥26.5B
¥24.9B
¥21.8B
Accounts Payable
—
¥4.2B
¥4.3B
¥9.7B
¥9.3B
ST Debt
¥1.5B
¥3.1B
¥4.1B
¥4.1B
¥4.0B
Taxes Payable
—
¥36M
¥91M
¥220M
¥213M
Non-Current Liabilities
¥3.6B
¥5.2B
¥7.5B
¥7.9B
¥8.3B
Total LT Borrowings
¥1.2B
¥2.6B
¥4.9B
¥5.3B
¥5.7B
Pension Obligations
—
¥1.4B
¥1.5B
¥1.5B
¥1.4B
Total Equity
¥13.5B
¥10.9B
¥9.7B
¥7.4B
¥6.8B
Capital Stock
—
¥1.2B
¥1.2B
¥1.2B
¥1.2B
Capital Surplus
—
¥672M
¥672M
¥672M
¥672M
Retained Earnings
¥11.4B
¥9.2B
¥8.3B
¥6.1B
¥5.4B
Treasury Stock
—
¥-2.0B
¥-2.0B
¥-2.0B
¥-2.0B
AOCI
—
¥1.8B
¥1.6B
¥1.5B
¥1.5B
Equity (owners)
¥11.2B
¥9.0B
¥8.2B
¥6.0B
¥5.3B
Total Interest-Bearing Debt ⓘ
¥2.6B
¥5.7B
¥9.0B
¥9.4B
¥9.7B
Net Cash ⓘ
¥8.2B
¥-978M
¥5.8B
¥-100M
¥6.6B
NCAV ⓘ
¥-682M
¥-3.2B
¥-3.9B
¥-6.1B
¥-6.6B
NCAV/Share
—
¥-1,875
¥-2,322
¥-3,586
¥-3,892
BV/Share
—
¥5,320
¥4,819
¥3,525
¥3,110
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥12.5B
¥-5.4B
¥6.7B
¥-6.4B
¥10.8B
Interest Paid
—
¥-79M
¥-100M
¥-93M
¥-102M
Interest Received
—
¥39M
¥22M
¥21M
¥14M
D&A
¥905M
¥817M
¥815M
¥830M
¥813M
Investing CF
¥-3.2B
¥-1.2B
¥-824M
¥-249M
¥-1.7B
Proceeds from Invest.
—
¥27M
—
¥1.3B
—
Financing CF
¥-3.1B
¥-3.4B
¥-528M
¥-359M
¥-278M
Dividends Paid
—
¥-168M
¥-67M
¥-33M
¥0M
Share Buybacks
—
¥0M
¥0M
¥0M
¥0M
LT Debt Repaid
—
¥-3.0B
¥-3.3B
¥-3.1B
¥-3.1B
Free Cash Flow
¥12.5B
¥-5.4B
¥6.7B
¥-6.4B
¥10.8B
Net Change in Cash
—
¥-10.1B
¥5.5B
¥-7.0B
¥8.8B
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
18.9%
9.9%
26.3%
10.4%
2.1%
ROA
5.1%
2.4%
5.4%
1.9%
0.4%
EPS
¥1,356.60
¥600.56
¥1,333.94
¥435.07
¥84.49
DPS
¥100.00
¥40.00
¥100.00
¥40.00
¥20.00
BPS
¥7,969.72
¥6,406.35
¥5,749.06
¥4,383.20
¥4,006.96
FCF/Share
—
¥-3,171
¥3,981
¥-3,765
¥6,359
NCAV/Share
—
¥-1,875
¥-2,322
¥-3,586
¥-3,892
Payout Ratio
7.4%
6.7%
7.5%
9.2%
23.7%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 2
Date Activist Stake Event Flag Demands Source
2026-05-19
Gomi Daisuke
5.22%
initial_5pct
Passive
—
2025-06-30
Kanadevia Corporation
29.62%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 6
#
Shareholder
Shares (thou.)
% of Total
1
カナデビア株式会社
667,300
39.37%
2
SBI SECURITIES Co., Ltd.
株式会社SBI証券
101,799
6.00%
3
株式会社広島銀行 (常任代理人 株式会社日本カストディ銀行)
84,400
4.97%
4
INTERACTIVE BROKERS LLC (常任代理人 インタラクティブ・ブローカーズ証券株式会社)
59,900
3.53%
5
MSIP CLIENT SECURITIES (常任代理人 モルガン・スタンレーMUFG証券株式会社)
40,100
2.36%
6
損害保険ジャパン株式会社 (常任代理人 株式会社日本カストディ銀行)
38,000
2.24%
7
早川 直希
30,000
1.77%
8
二神 勇
27,600
1.62%
9
中村 英生
20,800
1.22%
10
内海造船 職員持株会
20,357
1.20%
Domestic Nominees
0.0%
-1.3% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-1.4% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
64.3%
+9.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
カナデビア
NEW ENTRY
—
—
—
39.37%
NEW
SBI SECURITIES Co., Ltd.
式会社SBI証券
↑
1.02%
1.75%
6.00%
+4.25%
式会社広島銀行
4.97%
4.97%
4.97%
Interactive Brokers
NEW ENTRY
—
—
—
3.53%
NEW
MSIP CLIENT SECURITIES
NEW ENTRY
—
—
—
2.36%
NEW
Sompo Japan Insurance Inc.
損害保険ジャパン
2.98%
2.24%
2.24%
早川 直希
NEW ENTRY
—
—
—
1.77%
NEW
二神 勇
1.65%
1.65%
1.62%
-0.03%
中村 英生
NEW ENTRY
—
—
—
1.22%
NEW
内海造船 職員持株会
NEW ENTRY
—
—
—
1.20%
NEW
日立造船
last seen 2024
Exited Top 10
39.36%
39.36%
—
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)
last seen 2024
Exited Top 10
—
2.06%
—
BNY Mellon
last seen 2024
Exited Top 10
—
1.36%
—
KANSAI PAINT CO.,LTD.
関西ペイント
last seen 2024
Exited Top 10
1.34%
1.34%
—
Mitsubishi UFJ Trust and Banking
三菱UFJ信託銀行
last seen 2024
Exited Top 10
1.29%
1.29%
—
楽天証券
last seen 2024
Exited Top 10
—
1.27%
—
東京海上日動火災保険
last seen 2023
Exited Top 10
1.18%
—
—
内海造船職員持株会
last seen 2023
Exited Top 10
1.24%
—
—
橋塚 典幸
last seen 2023
Exited Top 10
1.29%
—
—
Concentration (HHI)
ⓘ
1595
1596
1642
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥552M
+49% since 2023
Holdings
6
1 exited
Trend
Stable
vs 2023
Held Company
FY2025
¥552M total
FY2023
¥370M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Hirogin Holdings, Inc.
㈱ひろぎんホールディングス
187
155,125
97
155,125
NS UNITED KAIUN KAISHA, LTD.
NSユナイテッド海運㈱
112
28,130
115
28,130
Tokai Kisen Co., Ltd.
東海汽船㈱
96
33,000
79
33,000
Sompo Holdings, Inc.
SOMPOホールディングス㈱
76
5,670
29
5,670
Chugin Financial Group, Inc.
㈱ちゅうぎんフィナンシャルグループ
60
36,000
32
36,000
Yamaguchi Finacial Group,Inc.
㈱山口フィナンシャルグループ
21
12,478
10
12,478
ジェイエフイーホールディングス㈱
—
−100%
Exit
—
8
5,000
M
Portfolio total
552
370
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding