7552
HAPPINET CORPORATION
株式会社ハピネット
Wholesale Trade
Happinet Corporation operates as an entertainment trading company in Japan. The company manufactures and sells toys, trading cards, playthings, and other toys, as well as audio-visual software; and plans, develops, and sells video and music, and video game software and hardware-related products. It also sells arcade game machines and amusement arcade-related products; and installs and operates toy vending machines and operates capsule toy specialty stores. The company was formerly known as Tosho Corporation and changed its name to Happinet Corporation in October 1991. Happinet Corporation was incorporated in 1969 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
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Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥364.4B
¥350.5B
¥307.3B
¥282.4B
Cost of Sales
¥319.5B
¥311.6B
¥274.8B
¥253.1B
Gross Profit
¥44.9B
¥38.9B
¥32.4B
¥29.4B
SG&A
¥33.2B
¥30.2B
¥26.6B
¥23.8B
Operating Income
¥11.7B
¥8.7B
¥5.8B
¥5.6B
Non-Operating Income
¥391M
¥350M
¥369M
¥281M
Dividend Income
¥149M
¥159M
¥163M
¥136M
Interest Income
¥21M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥105M
¥55M
¥17M
¥4M
Interest Expense
¥0M
¥0M
¥0M
¥0M
Ordinary Income
¥12.0B
¥9.0B
¥6.2B
¥5.9B
Pre-tax Income
¥10.6B
¥9.9B
¥6.1B
¥5.6B
Income Taxes
¥3.8B
¥3.3B
¥2.6B
¥2.0B
Current Tax
¥4.4B
¥3.7B
¥2.0B
¥2.1B
Deferred Tax
¥-593M
¥-407M
¥514M
¥-71M
Net Income (owners)
¥6.8B
¥6.6B
¥3.6B
¥3.6B
Comprehensive Income
¥8.3B
¥7.5B
¥3.2B
¥3.6B
EBITDA
¥14.1B
¥10.2B
¥7.2B
¥6.7B
Goodwill Amort. (J-GAAP)
¥584M
¥292M
¥383M
¥208M
EPS
¥306.82
¥295.46
¥160.76
¥161.66
Shares Outstanding
22.5M
22.9M
22.8M
22.1M
Shares Issued (total)
24.1M
24.1M
24.1M
24.1M
Treasury Shares
1.6M
1.2M
1.3M
1.9M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥121.5B
¥113.4B
¥94.3B
¥85.3B
Current Assets
¥96.9B
¥90.3B
¥77.9B
¥67.6B
Cash & Deposits
¥41.0B
¥29.7B
¥27.9B
¥23.4B
Trade Receivables
¥37.9B
¥42.0B
¥33.5B
¥29.5B
Inventories
¥7.7B
¥7.4B
¥7.4B
¥6.3B
Non-Current Assets
¥24.5B
¥23.1B
¥16.4B
¥17.7B
PP&E
¥5.6B
¥4.3B
¥1.2B
¥1.2B
Goodwill
¥2.0B
¥2.6B
—
¥383M
Intangible Assets
¥3.9B
¥6.6B
¥1.8B
¥2.2B
Investment Securities
¥9.1B
¥6.8B
¥8.4B
¥9.2B
Deferred Tax Assets
¥1.3B
¥1.3B
¥1.3B
¥1.6B
Total Liabilities
¥65.8B
¥62.1B
¥49.1B
¥41.8B
Current Liabilities
¥58.5B
¥55.6B
¥44.0B
¥37.1B
Accounts Payable
¥41.8B
¥40.0B
¥33.6B
¥27.4B
Taxes Payable
¥2.8B
¥2.8B
¥1.0B
¥1.5B
Non-Current Liabilities
¥7.3B
¥6.5B
¥5.1B
¥4.8B
Pension Obligations
¥3.4B
¥3.6B
¥3.4B
¥3.2B
Deferred Tax Liab.
¥593M
¥361M
¥76M
¥117M
Total Equity
¥55.7B
¥51.3B
¥45.2B
¥43.5B
Capital Stock
¥2.8B
¥2.8B
¥2.8B
¥2.8B
Capital Surplus
¥3.4B
¥3.4B
¥3.3B
¥3.0B
Retained Earnings
¥47.1B
¥43.2B
¥38.1B
¥36.0B
Treasury Stock
¥-3.0B
¥-1.9B
¥-2.0B
¥-1.8B
AOCI
¥5.1B
¥3.5B
¥2.5B
¥2.9B
Equity (owners)
¥50.2B
¥47.4B
¥42.2B
¥39.9B
Net Cash ⓘ
¥41.0B
¥29.7B
¥27.9B
¥23.4B
NCAV ⓘ
¥31.2B
¥28.2B
¥28.8B
¥25.8B
NCAV/Share
¥1,385
¥1,235
¥1,266
¥1,164
BV/Share
¥2,232
¥2,075
¥1,854
¥1,801
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥18.1B
¥8.4B
¥6.7B
¥3.7B
Interest Paid
¥0M
¥0M
—
¥0M
Interest Received
¥165M
¥159M
¥163M
¥137M
D&A
¥1.8B
¥1.2B
¥1.0B
¥932M
Goodwill Amort.
¥584M
¥292M
¥383M
¥208M
Investing CF
¥-2.8B
¥-5.1B
¥-773M
¥-1.2B
CapEx
¥2.1B
¥695M
¥335M
¥345M
Purchase Investments
¥-8M
¥-41M
¥-10M
¥-665M
Proceeds from Invest.
—
—
¥301M
—
Financing CF
¥-4.0B
¥-1.5B
¥-1.5B
¥-1.1B
Dividends Paid
¥-2.9B
¥-1.5B
¥-1.5B
¥-1.1B
Share Buybacks
¥-1.1B
¥0M
¥0M
¥0M
Free Cash Flow
¥16.0B
¥7.7B
¥6.4B
¥3.4B
Net Change in Cash
¥11.3B
¥1.8B
¥4.5B
¥1.4B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
12.7%
13.8%
8.1%
8.6%
ROA
5.8%
6.3%
4.0%
4.2%
EPS
¥306.82
¥295.46
¥160.76
¥161.66
DPS
¥130.00
¥125.00
¥65.00
¥65.00
BPS
¥2,518.49
¥2,281.90
¥2,014.27
¥1,943.80
FCF/Share
¥711
¥335
¥282
¥152
NCAV/Share
¥1,385
¥1,235
¥1,266
¥1,164
Payout Ratio
42.4%
42.3%
40.4%
40.2%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 8
Date Activist Stake Event Flag Demands Source
2026-03-31
SMBC Nikko Securities Inc.
11.43%
+2.28%
change
Passive
—
2025-10-23
Sumitomo Mitsui DS Asset Management Company, Limited
10.26%
+1.71%
change
Passive
—
2025-04-10
SMBC Nikko Securities Inc.
9.15%
-1.18%
change
Passive
—
2025-03-05
SMBC Nikko Securities Inc.
10.33%
+2.84%
change
Passive
—
2024-11-08
Sumitomo Mitsui DS Asset Management Company, Limited
8.55%
+1.81%
change
Passive
—
2024-04-22
SMBC Nikko Securities Inc.
7.49%
-1.04%
change
Passive
—
2024-03-07
SMBC Nikko Securities Inc.
8.53%
change
Passive
—
2023-11-08
Sumitomo Mitsui DS Asset Management Company, Limited
6.74%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 12
#
Shareholder
Shares (thou.)
% of Total
1
株式会社バンダイナムコホールディングス
5,883
26.16%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
1,796
7.99%
3
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
1,732
7.70%
4
株式会社SMBC信託銀行(株式会社三井住友銀行退職給付信託口)
676
3.01%
5
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託E口)
547
2.43%
6
井平 康彦
483
2.15%
7
河合 洋
300
1.33%
8
ハピネット社員持株会
287
1.28%
9
みずほ証券株式会社
257
1.15%
10
SMBC日興証券株式会社
250
1.11%
Domestic Nominees
18.1%
+3.2% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-1.2% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
36.2%
+1.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社バンダイナムコホールディングス
25.85%
25.74%
26.16%
+0.42%
日本カストディ銀行
5.31%
7.21%
10.13%
+2.92%
日本マスタートラスト信託銀行
7.15%
7.71%
7.99%
+0.28%
三井住友銀行
2.97%
2.96%
3.01%
+0.05%
井平 康彦
2.12%
2.11%
2.15%
+0.04%
河合 洋
1.32%
1.31%
1.33%
+0.02%
ハピネット社員持株会
1.33%
1.36%
1.28%
-0.08%
みずほ証券
NEW ENTRY
—
—
—
1.15%
NEW
SMBC日興証券
NEW ENTRY
—
—
—
1.11%
NEW
BNY Mellon
last seen 2024
Exited Top 10
1.29%
1.23%
—
苗手 一彦
last seen 2024
Exited Top 10
0.97%
0.96%
—
Concentration (HHI)
ⓘ
767
793
870
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥4,058M
+62% since 2023
Holdings
12
Trend
4 building
vs 2023
Held Company
FY2025
¥4,058M total
FY2023
¥2,504M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Nintendo Co., Ltd.
任天堂㈱
2,534
250,690
1,286
250,690
Joshin Denki Co., Ltd.
上新電機㈱
508
238,600
466
238,600
M
TSUBAKIMOTO CHAIN CO.
㈱椿本チエイン
312
+200.0%
↑
169,200
181
56,400
M
TOMY COMPANY,LTD.
㈱タカラトミー
236
+3.0%
↑
68,127
98
66,173
M
Shochiku Co;Ltd.
松竹㈱
187
15,200
173
15,200
M
AEON Co.,Ltd.
イオン㈱
97
+4.9%
↑
25,959
63
24,745
EDION Corporation
㈱エディオン
66
+7.5%
↑
35,491
42
33,003
GEO HOLDINGS CORPORATION
㈱ゲオホールディングス
58
32,000
51
32,000
�シォ�シャ�ス��スよェ蠑丈シ夂、セ
KLab㈱
43
311,200
121
311,200
M
AEON KYUSHU CO., LTD.
イオン九州㈱
11
4,800
11
4,800
People Co., Ltd.
ピープル㈱
6
12,000
12
12,000
Sanrio Company, Ltd.
㈱サンリオ
—
—
Portfolio total
4,058
2,504
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding