7997
Kurogane Kosakusho Ltd.
株式会社くろがね工作所
Other Products
Kurogane Kosakusho Ltd. manufactures and sells furniture in Japan. The company engages in logistics, construction, and other services. It also provides furniture for offices, medical and welfare facilities, schools and public facilities, delivery boxes, and residential applications. The company also offers air conditioning and clean-room-related equipment; and manufactures and installs custom-made Interiors and construction-related equipment. Kurogane Kosakusho Ltd. was founded in 1927 and is headquartered in Osaka, Japan.
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⚠ TSE Capital Mandate
P / Book
0.34×
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
¥6.3B
¥7.2B
¥7.2B
¥6.9B
¥8.4B
Cost of Sales
¥4.8B
¥5.7B
¥5.7B
¥5.5B
¥6.7B
Gross Profit
¥1.5B
¥1.5B
¥1.4B
¥1.4B
¥1.7B
SG&A
¥1.6B
¥1.6B
¥1.6B
¥1.6B
¥1.8B
Operating Income
¥-123M
¥-27M
¥-139M
¥-261M
¥-103M
Non-Operating Income
¥145M
¥76M
¥65M
¥96M
¥123M
Dividend Income
¥28M
¥26M
¥29M
¥28M
¥21M
Interest Income
¥1M
¥0M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥29M
¥29M
¥104M
¥101M
¥90M
Interest Expense
¥18M
¥15M
¥39M
¥41M
¥42M
Ordinary Income
¥-8M
¥20M
¥-178M
¥-266M
¥-70M
Pre-tax Income
¥548M
¥240M
¥1.4B
¥-550M
¥35M
Income Taxes
¥146M
¥35M
¥170M
¥18M
¥38M
Current Tax
¥152M
¥28M
¥457M
¥10M
¥41M
Deferred Tax
¥-6M
¥7M
¥-287M
¥7M
¥-3M
Net Income (owners)
¥403M
¥209M
¥1.2B
¥-566M
¥-5M
Minority Interest
¥-1M
¥-4M
¥-1M
¥-1M
¥3M
Comprehensive Income
¥336M
¥300M
¥1.4B
¥-466M
¥-22M
EBITDA
¥34M
¥111M
¥-50M
¥-89M
¥101M
EPS
¥237.75
¥122.92
¥713.11
¥-332.28
¥-3.15
Shares Outstanding
1.7M
1.7M
1.7M
1.7M
1.7M
Shares Issued (total)
1.9M
1.9M
1.9M
1.9M
1.9M
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
¥8.5B
¥8.1B
¥8.2B
¥8.5B
¥9.6B
Current Assets
¥4.8B
¥4.1B
¥4.6B
¥3.7B
¥4.3B
Cash & Deposits
¥1.5B
¥908M
¥1.3B
¥659M
¥775M
Trade Receivables
¥1.6B
¥1.8B
¥1.6B
¥1.4B
—
Non-Current Assets
¥3.8B
¥3.9B
¥3.6B
¥4.8B
¥5.4B
PP&E
¥2.4B
¥2.5B
¥2.2B
¥3.2B
¥3.9B
Intangible Assets
¥56M
¥28M
¥15M
¥13M
¥49M
Investment Securities
¥1.3B
¥1.3B
¥1.3B
¥1.3B
¥1.1B
Deferred Tax Assets
¥5M
¥0M
¥0M
¥1M
¥34M
Total Liabilities
¥3.7B
¥3.5B
¥3.9B
¥5.6B
¥6.3B
Current Liabilities
¥2.1B
¥2.0B
¥2.6B
¥3.9B
¥4.4B
Accounts Payable
¥422M
¥647M
¥673M
¥1.2B
¥1.2B
ST Debt
¥539M
¥537M
¥578M
¥2.3B
¥2.6B
Taxes Payable
¥160M
¥26M
¥496M
¥6M
¥61M
Non-Current Liabilities
¥1.6B
¥1.4B
¥1.3B
¥1.7B
¥1.8B
Total LT Borrowings
¥357M
¥287M
¥275M
¥504M
¥740M
Pension Obligations
¥952M
¥880M
¥825M
¥752M
¥664M
Deferred Tax Liab.
¥73M
¥97M
¥50M
¥19M
¥0M
Total Equity
¥4.9B
¥4.6B
¥4.3B
¥2.9B
¥3.4B
Capital Stock
¥3.0B
¥3.0B
¥3.0B
¥3.0B
¥3.0B
Retained Earnings
¥1.5B
¥1.2B
¥953M
¥-836M
¥-240M
Treasury Stock
¥-189M
¥-158M
¥-158M
¥-158M
¥-158M
AOCI
¥507M
¥573M
¥479M
¥904M
¥772M
Equity (owners)
¥4.3B
¥4.0B
¥3.8B
¥2.0B
¥2.6B
Minority Interests
¥3M
¥4M
¥8M
¥9M
¥10M
Total Interest-Bearing Debt ⓘ
¥896M
¥824M
¥853M
¥2.8B
¥3.4B
Net Cash ⓘ
¥630M
¥84M
¥463M
¥-2.2B
¥-2.6B
NCAV ⓘ
¥1.1B
¥660M
¥652M
¥-1.9B
¥-2.0B
NCAV/Share
¥635
¥387
¥383
¥-1,106
¥-1,160
BV/Share
¥2,600
¥2,349
¥2,227
¥1,176
¥1,527
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥76M
¥-249M
¥-428M
¥181M
¥290M
Taxes Paid
¥-24M
¥-472M
¥6M
—
—
Interest Paid
¥-15M
¥-16M
¥-40M
¥-39M
¥-41M
Interest Received
¥29M
¥26M
¥29M
¥28M
¥21M
D&A
¥157M
¥138M
¥89M
¥171M
¥204M
Investing CF
¥208M
¥-82M
¥3.0B
¥239M
¥-27M
CapEx
¥45M
¥440M
¥11M
¥9M
¥34M
Purchase Investments
¥-3M
¥-3M
¥-3M
¥-3M
¥-327M
Proceeds from Invest.
¥668M
¥377M
¥234M
¥170M
¥351M
Financing CF
¥-16M
¥-62M
¥-2.0B
¥-591M
¥-118M
Dividends Paid
¥-33M
—
—
¥-0M
¥-0M
Share Buybacks
¥-31M
—
¥-0M
—
¥-0M
LT Debt Repaid
¥-328M
¥-428M
¥-447M
¥-683M
¥-698M
Free Cash Flow
¥32M
¥-689M
¥-440M
¥172M
¥256M
Net Change in Cash
¥268M
¥-393M
¥552M
¥-171M
¥145M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
8.6%
4.7%
33.8%
-18.0%
-0.2%
ROA
4.9%
2.6%
14.5%
-6.2%
-0.1%
EPS
¥237.75
¥122.92
¥713.11
¥-332.28
¥-3.15
DPS
¥40.00
¥20.00
—
—
—
BPS
¥2,904.34
¥2,686.13
¥2,508.09
¥1,706.80
¥1,979.53
FCF/Share
¥19
¥-404
¥-258
¥101
¥150
NCAV/Share
¥635
¥387
¥383
¥-1,106
¥-1,160
Payout Ratio
16.8%
16.3%
—
—
—
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 13
Date Activist Stake Event Flag Demands Source
2025-09-03
Naotaka Koutari
10.63%
correction
Passive
—
2025-08-26
Naotaka Koutari
10.63%
correction
Passive
—
2025-08-14
Naotaka Koutari
10.63%
-1.0%
change
Passive
—
2025-08-04
Naotaka Koutari
11.63%
correction
Passive
—
2025-07-28
Naotaka Koutari
11.63%
+0.95%
correction
Passive
—
2025-07-16
Naotaka Koutari
10.68%
change
Passive
—
2024-06-28
Takeo Yoshida
—
exit
Passive
—
2023-11-07
Takeo Yoshida
6.8%
initial_5pct
Passive
—
2023-11-07
Takeo Yoshida
5.75%
-1.05%
change
Passive
—
2023-10-18
ASIA PLASTIC VICTORY PTE.LTD.
6.8%
correction
Passive
—
2023-10-18
ASIA PLASTIC VICTORY PTE.LTD.
5.75%
-1.05%
correction
Passive
—
2023-10-17
ASIA PLASTIC VICTORY PTE.LTD.
6.8%
initial_5pct
Passive
—
2023-10-17
ASIA PLASTIC VICTORY PTE.LTD.
5.75%
-1.05%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 10
#
Shareholder
Shares (thou.)
% of Total
1
ワイ・ケイ株式会社
148
8.87%
2
エイ・シイ工業株式会社
139
8.35%
3
Business Partner Stock Ownership Plan
くろがね取引先持株会
111
6.66%
4
Employee Stock Ownership Plan
くろがね従業員持株会
73
4.39%
5
Sumitomo Life Insurance
住友生命保険相互会社(常任代理人 株式会社日本カストディ銀行)
63
3.80%
6
MUFG Bank
株式会社三菱UFJ銀行
56
3.41%
7
神足尚孝
47
2.87%
8
ワイ・テイ工業株式会社
27
1.64%
9
株式会社スチールテック
20
1.22%
10
岡本秀昭
20
1.20%
Domestic Nominees
0.0%
+0.0% 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
42.4%
-3.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
ワイ・ケイ
9.33%
9.33%
8.87%
-0.46%
エイ・シイ工業
8.18%
8.18%
8.35%
+0.17%
Business Partner Stock Ownership Plan
くろがね取引先持株会
6.09%
6.34%
6.66%
+0.32%
Employee Stock Ownership Plan
くろがね従業員持株会
4.05%
3.95%
4.39%
+0.44%
Sumitomo Life Insurance
住友生命保険
3.72%
3.72%
3.80%
+0.08%
MUFG Bank
式会社三菱UFJ銀行
3.34%
3.34%
3.41%
+0.07%
神足尚孝
3.31%
3.31%
2.87%
-0.44%
ワイ・テイ工業
NEW ENTRY
—
—
—
1.64%
NEW
式会社スチールテック
NEW ENTRY
—
—
—
1.22%
NEW
岡本秀昭
NEW ENTRY
—
—
—
1.20%
NEW
楽天証券
last seen 2024
Exited Top 10
2.25%
3.38%
—
Japan Securities Finance Co.,Ltd.
日本証券金融
last seen 2024
Exited Top 10
8.31%
2.78%
—
Mitsui Sumitomo Insurance Company, Limited
三井住友海上火災保険
last seen 2024
Exited Top 10
1.89%
1.89%
—
Concentration (HHI)
ⓘ
321
268
252
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥665M
-23% since 2023
Holdings
10
4 exited
Trend
5 unwinding
vs 2023
Held Company
FY2025
¥665M total
FY2023
¥867M total
Book Val ¥M
Shares
Book Val ¥M
Shares
The Kansai Electric Power Company, Incorporated
関西電力㈱
486
-33.8%
↓
182,000
542
275,000
KIMURA CHEMICAL PLANTS CO., LTD.
木村化工機㈱
72
-14.3%
↓
60,000
50
70,000
M
The Bank of Nagoya, Ltd.
㈱名古屋銀行
33
+106.2%
↑
7,467
20
3,621
M
コニカミノルタホールディングス㈱
22
+29.4%
↑
33,081
12
25,560
Senshu Ikeda Holdings,Inc.
㈱池田泉州ホールディングス
20
-32.1%
↓
25,000
13
36,800
TOMONY Holdings,Inc.
トモニホールディングス㈱
15
-46.8%
↓
20,445
19
38,445
J.フロント リテイリング㈱
8
+16.7%
↑
3,581
4
3,069
Namura Shipbuilding Co.,Ltd.
㈱名村造船所
8
-66.0%
↓
1,700
5
5,000
M
MS ADインシュアランスグループホールディングス㈱
2
+200.0%
↑
600
1
200
AUTOBACS SEVEN CO.,LTD.
㈱オートバックスセブン
—
—
DAI-DAN CO.,LTD.
ダイダン㈱
—
−100%
Exit
—
112
76,000
Mitsubishi Heavy Industries,Ltd.
三菱重工業㈱
—
−100%
Exit
—
83
10,000
Inui Global Logistics Co., Ltd.
乾汽船㈱
—
−100%
Exit
—
2
1,300
SEC CARBON,LIMITED
SECカーボン㈱
—
−100%
Exit
—
4
300
M
Portfolio total
665
867
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding