7244
ICHIKOH INDUSTRIES, LTD.
市光工業株式会社
Electric Appliances
Ichikoh Industries, Ltd., together with its subsidiaries, develops, manufactures, and sells lamps and other automotive parts to automobile manufacturers and parts manufacturers in Japan and internationally. The company offers head, rear, head, and front combination lamps. It also provides automotive bulbs and wipers. In addition, the company manufactures and sells parts for electric vehicles. The company was founded in 1903 and is headquartered in Isehara, Japan. Ichikoh Industries, Ltd. is a subsidiary of Valeo Bayen S.A.
Read more
← Companies
⚠ TSE Capital Mandate
P / Book
0.66×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥117.1B
¥125.5B
¥145.9B
¥135.5B
¥125.5B
Cost of Sales
¥96.2B
¥103.6B
¥118.2B
¥112.3B
¥100.7B
Gross Profit
¥20.9B
¥21.9B
¥27.7B
¥23.2B
¥24.8B
SG&A
¥15.1B
¥17.0B
¥20.3B
¥19.3B
¥19.2B
Operating Income
¥5.8B
¥4.9B
¥7.4B
¥3.9B
¥5.6B
Non-Operating Income
¥2.4B
¥2.3B
¥1.3B
¥1.9B
¥1.5B
Dividend Income
¥1M
¥6M
¥10M
¥42M
¥10M
Interest Income
¥330M
¥206M
¥215M
¥144M
¥144M
Non-Operating Expenses
¥691M
¥690M
¥565M
¥512M
¥581M
Interest Expense
¥219M
¥166M
¥130M
¥165M
¥131M
Ordinary Income
¥7.6B
¥6.5B
¥8.1B
¥5.4B
¥6.5B
Pre-tax Income
¥7.4B
¥6.9B
¥9.8B
¥4.4B
¥6.0B
Income Taxes
¥1.0B
¥2.3B
¥1.9B
¥-94M
¥2.0B
Current Tax
¥1.6B
¥1.9B
¥1.6B
¥1.1B
¥1.3B
Deferred Tax
¥-622M
¥394M
¥266M
¥-1.2B
¥670M
Net Income (owners)
¥6.2B
¥4.5B
¥7.8B
¥4.4B
¥4.0B
Minority Interest
¥137M
¥118M
¥53M
¥78M
¥66M
Comprehensive Income
¥10.6B
¥7.4B
¥10.7B
¥5.4B
¥6.1B
EBITDA
¥11.7B
¥10.9B
¥13.2B
¥9.6B
¥13.9B
EPS
¥64.47
¥46.48
¥81.53
¥46.02
¥41.44
Shares Outstanding
96.2M
96.2M
96.2M
96.1M
96.1M
Shares Issued (total)
96.4M
96.4M
96.3M
96.3M
96.3M
Treasury Shares
0.2M
0.2M
0.2M
0.2M
0.2M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥129.6B
¥130.1B
¥129.4B
¥125.9B
¥112.5B
Current Assets
¥69.4B
¥66.5B
¥67.3B
¥63.3B
¥48.2B
Cash & Deposits
¥12.4B
¥12.6B
¥8.9B
¥8.6B
¥5.7B
Trade Receivables
¥12.6B
¥16.6B
¥24.4B
—
—
Non-Current Assets
¥60.2B
¥63.6B
¥62.1B
¥62.6B
¥64.4B
PP&E
¥37.8B
¥38.5B
¥39.7B
¥41.7B
¥45.4B
Intangible Assets
¥41M
¥38M
¥123M
¥859M
¥995M
Investment Securities
¥4.4B
¥3.5B
¥3.0B
¥2.3B
¥1.4B
Deferred Tax Assets
¥3.5B
¥3.9B
¥4.8B
¥5.6B
¥4.5B
Total Liabilities
¥49.5B
¥59.1B
¥64.7B
¥70.9B
¥63.1B
Current Liabilities
¥38.8B
¥48.1B
¥53.9B
¥58.5B
¥49.3B
Accounts Payable
—
¥14.1B
¥15.7B
¥37.0B
¥29.2B
ST Debt
—
¥13M
¥2.1B
¥3.4B
¥4.6B
Taxes Payable
¥608M
¥1.0B
¥1.4B
¥453M
¥800M
Non-Current Liabilities
¥10.7B
¥11.1B
¥10.8B
¥12.4B
¥13.8B
Total LT Borrowings
—
—
—
¥920M
¥2.9B
Pension Obligations
¥5.7B
¥7.1B
¥7.3B
¥8.2B
¥8.3B
Deferred Tax Liab.
—
—
—
¥153M
¥148M
Total Equity
¥80.1B
¥71.0B
¥64.7B
¥55.0B
¥49.4B
Capital Stock
¥9.0B
¥9.0B
¥9.0B
¥9.0B
¥9.0B
Capital Surplus
¥2.5B
¥2.5B
¥2.5B
¥2.5B
¥2.5B
Retained Earnings
¥59.8B
¥54.9B
¥51.5B
¥44.7B
¥40.0B
Treasury Stock
¥-56M
¥-56M
¥-55M
¥-55M
¥-54M
AOCI
¥7.9B
¥3.7B
¥1.0B
¥-1.8B
¥-2.6B
Equity (owners)
¥71.3B
¥66.3B
¥63.0B
¥56.1B
¥51.4B
Minority Interests
¥1.0B
¥902M
¥692M
¥673M
¥603M
Total Interest-Bearing Debt ⓘ
—
¥13M
¥2.1B
¥4.3B
¥7.5B
Net Cash ⓘ
¥12.4B
¥12.6B
¥6.9B
¥4.3B
¥-1.8B
NCAV ⓘ
¥19.9B
¥7.4B
¥2.7B
¥-7.6B
¥-15.0B
NCAV/Share
¥206
¥77
¥28
¥-79
¥-156
BV/Share
¥740
¥690
¥655
¥584
¥535
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥12.0B
¥11.0B
¥13.4B
¥13.0B
¥9.2B
Interest Paid
¥-252M
¥-148M
¥-133M
¥-200M
¥-131M
Interest Received
¥7.5B
¥123M
¥195M
¥1.3B
¥155M
D&A
¥5.9B
¥6.0B
¥5.8B
¥5.7B
¥8.3B
Investing CF
¥-10.8B
¥-4.7B
¥-9.6B
¥-5.9B
¥-6.7B
CapEx
¥4.6B
¥3.6B
¥5.3B
¥5.4B
¥6.1B
Purchase Investments
—
¥-6M
¥-12M
¥-11M
¥-12M
Proceeds from Invest.
—
—
—
—
¥57M
Financing CF
¥-2.1B
¥-3.0B
¥-3.8B
¥-4.4B
¥-2.4B
Dividends Paid
¥-1.3B
¥-1.2B
¥-961M
¥-768M
¥-576M
LT Debt Repaid
—
¥-920M
¥-2.0B
¥-4.3B
¥-2.0B
Free Cash Flow
¥7.4B
¥7.4B
¥8.1B
¥7.7B
¥3.2B
Net Change in Cash
¥-210M
¥3.7B
¥305M
¥2.9B
¥293M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
8.3%
6.7%
13.2%
8.6%
8.6%
ROA
4.8%
3.4%
6.1%
3.7%
3.5%
EPS
¥64.47
¥46.48
¥81.53
¥46.02
¥41.44
DPS
¥14.00
¥13.00
¥11.00
¥9.00
¥7.00
BPS
¥821.90
¥728.29
¥666.00
¥565.32
¥507.71
FCF/Share
¥77
¥77
¥84
¥80
¥33
NCAV/Share
¥206
¥77
¥28
¥-79
¥-156
Payout Ratio
21.7%
28.0%
13.5%
19.6%
16.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 5
Date Activist Stake Event Flag Demands Source
2026-05-12
Oasis Management Company Ltd.
5.39%
initial_5pct
✓ Activist
—
2025-12-17
Cobas Asset Management, SGIIC, SA
6.28%
+1.0%
change
Passive
—
2025-06-23
Valeo Bayen
61.06%
change
Passive
—
2025-06-23
Valeo Management
60.97%
change
Passive
—
2024-02-06
Cobas Asset Management, SGIIC, SA
5.28%
change
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
ヴァレオ・マネジメント (常任代理人 ㈱三菱UFJ銀行、みずほ証券㈱)
58,791
61.08%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱(信託口)
5,000
5.19%
3
BNP PARIBAS MADRID / 2S / JASDEC / SPANISH RESIDENTS / UCITS ASSETS(常任代理人 香港上海銀行東京支店 セキュリティーズ・サービシズ・オペレーションズ)
4,334
4.50%
4
Custody Bank of Japan, Ltd. (Trust Account)
日本カストディ銀行㈱(信託口)
2,868
2.98%
5
GOLDMAN SACHS INTERNATIONAL(常任代理人 ゴールドマン・サックス㈱)
1,383
1.43%
6
日本生命保険(相)(常任代理人 日本マスタートラスト信託銀行㈱)
988
1.02%
7
BNY GCM CLIRNT ACCOUNT JPRD AC ISG(FE-AC)(常任代理人 ㈱三菱UFJ銀行)
861
0.89%
8
BNP PARIBAS LUXEMBOURG / 2S / JASDEC SECURITIES / UCITS ASSETS(香港上海銀行東京支店 セキュリティーズ・サービシズ・オペレーションズ)
791
0.82%
9
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)(常任代理人 野村證券㈱)
771
0.80%
10
MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB(常任代理人 BOFA証券㈱)
715
0.74%
Domestic Nominees
8.2%
-0.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-0.8% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
71.3%
+0.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
ヴァレオ・マネジメント
NEW ENTRY
—
—
—
61.08%
NEW
日本マスタートラスト信託銀行
4.98%
5.28%
5.19%
-0.09%
BNP PARIBAS MADRID / 2S / JASDEC / SPANISH RESIDENTS / UCITS ASSETS
—
4.49%
4.50%
+0.01%
日本カストディ銀行
3.97%
3.50%
2.98%
-0.52%
Goldman Sachs
—
1.36%
1.43%
+0.07%
日本生命保険
1.02%
1.02%
1.02%
BNY GCM CLIRNT ACCOUNT JPRD AC ISG(FE-AC)
NEW ENTRY
—
—
—
0.89%
NEW
BNP PARIBAS LUXEMBOURG / 2S / JASDEC SECURITIES / UCITS ASSETS(香港上海銀行東京支店 セキュリティーズ・サービシズ・オペレーションズ)
NEW ENTRY
—
—
—
0.82%
NEW
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)
—
0.99%
0.80%
-0.19%
MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB
NEW ENTRY
—
—
—
0.74%
NEW
ヴァレオ・バイエン
last seen 2024
Exited Top 10
61.14%
61.12%
—
Northern Trust
last seen 2024
Exited Top 10
0.71%
0.83%
—
BNP PARIBAS LONDON BRANCH FOR PRIME BROKERAGE SEGREGATION ACC FOR THIRD PARTY(香港上海銀行東京支店 カストディ業務部)
last seen 2024
Exited Top 10
—
0.83%
—
MSIP CLIENT SECURITIES
last seen 2024
Exited Top 10
0.80%
0.83%
—
JP Morgan
last seen 2023
Exited Top 10
0.66%
—
—
野村證券
last seen 2023
Exited Top 10
0.63%
—
—
INVERSIS / IICS JAPAN
last seen 2023
Exited Top 10
4.65%
—
—
BNP PARIBAS LUXEMBOURG/23/ JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS
last seen 2023
Exited Top 10
0.80%
—
—
Concentration (HHI)
ⓘ
3804
3802
3793
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved