8015
TOYOTA TSUSHO CORPORATION
豊田通商株式会社
Wholesale Trade
Toyota Tsusho Corporation engages in the metals, circular economy, supply chain, mobility, green infrastructure, digital solutions, and lifestyle businesses. The company is involved in sales, distribution, and processing of materials for mobility, including steel sheets and nonferrous metals, as well as for next-generation energy and infrastructure-related industries; develops critical metals for electrification of automobiles and rare inorganic resources; export/import, offshore trade, and domestic sales of batteries, electronic materials, and related products; production of recycled raw materials; sales of raw materials and products for detergents, sanitary materials, pharmaceuticals, packaging, and coatings; and operation of bio-chemical handling and plastic, and solvent recycling businesses. It also engages supply chain business; import/export, vehicle assembly, and wholesale and retail businesses for Toyota vehicles and supply parts, as well as commercial, passenger, industrial, and other types of vehicles; provision of vehicle installation and conversion, and logistics solutions; and provision of captive finance and leasing, and after-sales services. In addition, the company trades in manufacturing and logistics equipment and parts; provides design, repair, and installation services; develops and operates energy, port infrastructure, and construction equipment businesses; develops and operates renewable energy such as wind, solar, hydroelectric, and biomass; supplies LNG and biodiesel; sells of ICT, computing resources, and various tools, as well as electronic devices. Further, it engages in grain, food, healthcare and medical, and insurance businesses; planning, production, logistics, and sales of raw materials, textiles, and fiber products; development and management of hotel, rental, and condominium; renovation services; and original furniture planning and sales. The company was incorporated in 1948 and is headquartered in Nagoya, Japan.
Price
¥6,930
Market Cap
¥7.3T
Ent. Value
¥8.1T
Net Debt
−¥765.0B
Shares Out.
1.1B
P / E
19.7×
EV / EBIT
14.8×
P / Book
2.32×
P / NCAV
40.84×
Div. Yield
0.84%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
TDnet |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥11,561.9B | ¥10,309.5B | ¥10,189.0B | ¥9,848.6B | ¥8,028.0B |
| Cost of Sales | ¥10,297.5B | ¥10,297.5B | ¥9,136.6B | ¥8,879.7B | ¥7,268.8B |
| Gross Profit | ¥1,264.4B | ¥1,264.4B | ¥1,052.4B | ¥968.8B | ¥759.2B |
| SG&A | ¥712.2B | ¥712.2B | ¥583.7B | ¥532.7B | ¥450.3B |
| Operating Income | ¥545.2B | ¥545.2B | ¥441.6B | ¥388.8B | ¥294.1B |
| Interest Income | — | ¥30.3B | ¥32.2B | ¥22.9B | ¥9.0B |
| Interest Expense | — | ¥56.9B | ¥60.9B | ¥46.9B | ¥26.6B |
| Ordinary Income | ¥564.9B | ¥536.9B | — | — | — |
| Pre-tax Income | ¥564.9B | ¥564.9B | ¥469.6B | ¥427.1B | ¥330.1B |
| Net Income (owners) | ¥370.5B | ¥370.5B | ¥331.4B | ¥284.2B | ¥222.2B |
| Minority Interest | — | ¥25.7B | ¥8.8B | ¥30.6B | ¥26.4B |
| Comprehensive Income | — | ¥310.1B | ¥655.2B | ¥399.8B | ¥344.2B |
| EBITDA | ¥722.3B | ¥722.3B | ¥581.8B | ¥517.7B | ¥405.0B |
| EPS | ¥350.95 | ¥350.95 | ¥941.94 | ¥807.58 | ¥631.63 |
| Shares Outstanding | — | 1.06B | 351.9M | 351.9M | 351.9M |
| Shares Issued (total) | — | 1.06B | 354.1M | 354.1M | 354.1M |
| Treasury Shares | — | 6.5M | 2.2M | 2.2M | 2.2M |
| Metric |
FY 2025
TDnet |
FY 2024
TDnet |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥8,523.7B | ¥8,523.7B | ¥7,060.0B | ¥6,377.1B | ¥6,143.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥5,401.7B | ¥5,401.7B | ¥4,196.6B | ¥4,068.8B | ¥3,958.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥1,403.8B | ¥1,403.8B | ¥878.7B | ¥771.6B | ¥653.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥3,122.0B | ¥3,122.0B | ¥2,863.4B | ¥2,308.3B | ¥2,184.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥1,461.9B | ¥1,461.9B | ¥1,139.2B | ¥1,004.1B | ¥941.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | — | ¥168.6B | ¥157.2B | ¥83.4B | ¥82.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | — | ¥276.0B | ¥275.0B | ¥184.0B | ¥182.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | — | ¥51.0B | ¥49.8B | ¥36.8B | ¥27.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥5,222.5B | ¥5,222.5B | ¥4,439.9B | ¥4,308.5B | ¥4,200.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥3,385.2B | ¥3,385.2B | ¥2,595.6B | ¥2,676.8B | ¥2,726.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥845.6B | ¥845.6B | ¥626.5B | ¥746.7B | ¥740.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥1,837.3B | ¥1,837.3B | ¥1,844.3B | ¥1,631.8B | ¥1,474.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥1,323.2B | ¥1,323.2B | ¥1,361.6B | ¥1,275.0B | ¥1,115.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | — | ¥186.9B | ¥202.4B | ¥121.1B | ¥113.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥3,301.1B | ¥3,301.1B | ¥2,620.1B | ¥2,068.5B | ¥1,942.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥29.7B | ¥43.1B | ¥43.8B | ¥156.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥2,526.9B | ¥2,526.9B | ¥1,820.0B | ¥1,526.6B | ¥1,300.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-3.8B | ¥-3.8B | ¥-3.8B | ¥-3.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥452.5B | ¥542.8B | ¥282.7B | ¥217.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥3,157.5B | ¥3,157.5B | ¥2,467.1B | ¥1,914.3B | ¥1,735.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | — | ¥121.6B | ¥153.0B | ¥154.2B | ¥207.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥2,168.7B | ¥2,168.7B | ¥1,988.1B | ¥2,021.7B | ¥1,856.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-765.0B | ¥-765.0B | ¥-1,109.4B | ¥-1,250.1B | ¥-1,203.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥179.2B | ¥179.2B | ¥-243.3B | ¥-239.8B | ¥-241.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥170 | ¥-691 | ¥-681 | ¥-687 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥2,991 | ¥7,011 | ¥5,440 | ¥4,931 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
TDnet |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥461.2B | ¥461.2B | ¥542.1B | ¥444.3B | ¥50.1B |
| D&A | ¥177.1B | ¥177.1B | ¥140.2B | ¥129.0B | ¥110.9B |
| Investing CF | ¥-28.1B | ¥-28.1B | ¥-219.6B | ¥-139.9B | ¥-157.3B |
| CapEx | ¥164.0B | ¥164.0B | ¥175.0B | ¥161.0B | ¥135.8B |
| Financing CF | ¥-33.3B | ¥-33.3B | ¥-263.3B | ¥-206.7B | ¥44.9B |
| Free Cash Flow | ¥297.2B | ¥297.2B | ¥367.1B | ¥283.3B | ¥-85.6B |
| Metric |
FY 2025
TDnet |
FY 2024
TDnet |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 11.2% | 12.5% | 14.1% | 14.2% | 11.4% |
| ROA | 4.3% | 4.8% | 4.9% | 4.5% | 3.6% |
| EPS | ¥350.95 | ¥350.95 | ¥941.94 | ¥807.58 | ¥631.63 |
| DPS | ¥58.00 | ¥58.00 | ¥280.00 | ¥202.00 | ¥160.00 |
| BPS | ¥2,990.71 | ¥2,990.71 | — | — | — |
| FCF/Share | — | ¥282 | ¥1,043 | ¥805 | ¥-243 |
| NCAV/Share | — | ¥170 | ¥-691 | ¥-681 | ¥-687 |
| Payout Ratio | 16.5% | 16.5% | 29.7% | 25.0% | 25.3% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 7
Capital Allocation Signals 2
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-04-30
15:00
|
Buyback | ¥3054.0/sh 11.2% | Toyota Tsusho Corporation resolved to acquire 118,095,402 treasury shares (11.19% of outstanding) via tender offer from … | |
|
Summary
Toyota Tsusho Corporation resolved to acquire 118,095,402 treasury shares (11.19% of outstanding) via tender offer from TOYOTA Automatic Loom (which is being taken private via Toyota Asset's acquisition). The acquisition price is set at the lower of the closing price or 1-month VWAP on the business day before the final board decision, discounted by 10%, with a ceiling price of ¥3,054 per share. The acquisition supports capital efficiency improvement (EPS/ROE) and is part of the company's FY2025-2027 shareholder return policy targeting 40%+ total payout ratio including dividends.
% of Shares: 11.2%
Shares: 118,095,402
Source (JP)
当社は、本日開催の取締役会において、会社法第459条第1項の規定による当社定款の規定及び同法第156条第1項の規定に基づき、自己株式の取得及びその具体的な取得方法として自己株式の公開買付けを行うことを決議するとともに、会社法第178条の規定に基づき、自己株式を消却することを決議いたしました。
自己株式の取得及び自己株式の公開買付け並びに自己株式の消却に関するお知らせ
TDnet PDF
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2026-04-30
15:00
|
Div Increase | ¥65.5B ¥62.0/sh +13% | Toyota Tsusho announced an increase in dividend per share from 58 yen (previous forecast) to 62 yen for FY2026 ending Ma… | |
|
Summary
Toyota Tsusho announced an increase in dividend per share from 58 yen (previous forecast) to 62 yen for FY2026 ending March 31, 2026, representing a 6.9% increase from prior year dividend of 55 yen. Total dividend payout is 65.5 billion yen, with annual dividend expected at 120 yen per share including interim dividend, consistent with the company's progressive dividend policy and 40%+ total shareholder return target through FY2028.
Deadline: 2026-06-24
YoY: +13%
Source (JP)
当期末の配当金については、前回予想の58円00銭から62円00銭に修正し、中間配当金(1株につき58円)と合わせ、年間では120円を予定しております。
2026年3月期通期連結業績と前期実績との差異及び剰余金の配当に関するお知らせ
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 | トヨタ自動車㈱ | 229,106 | 21.69% |
| 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)
|
152,995 | 14.48% |
| 3 | ㈱豊田自動織機 | 118,095 | 11.18% |
| 4 |
Custody Bank of Japan, Ltd. (Trust Account)
㈱日本カストディ銀行(信託口)
|
63,322 | 5.99% |
| 5 | ㈱三菱UFJ銀行 | 24,295 | 2.30% |
| 6 | JPモルガン証券㈱ | 13,207 | 1.25% |
| 7 | ㈱三井住友銀行 | 12,748 | 1.21% |
| 8 |
State Street Bank and Trust Company
STATE STREET BANK WEST CLIENT TREATY 505234 (常任代理人 ㈱みずほ銀行決済営業部)
|
12,572 | 1.19% |
| 9 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 ㈱みずほ銀行決済営業部)
|
10,872 | 1.03% |
| 10 | 高知信用金庫 | 10,860 | 1.03% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
20.5%
+0.9% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
2.2%
+1.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
38.7%
-0.6% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 61.3% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| トヨタ自動車 | 21.69% | 21.69% | 21.69% | |
| 日本マスタートラスト信託銀行 | 14.78% | 13.95% | 14.48% +0.53% | |
| ㈱豊田自動織機 | 11.18% | 11.18% | 11.18% | |
| 日本カストディ銀行 | 5.96% | 5.62% | 5.99% +0.37% | |
| ㈱三菱UFJ銀行 | 2.30% | 2.30% | 2.30% | |
| State Street | 1.01% | 1.19% | 2.22% +1.03% | |
| JPモルガン証券 NEW ENTRY | 1.07% | — | 1.25% NEW | |
| 三井住友銀行 | 1.21% | 1.21% | 1.21% | |
| 高知信用金庫 | 0.93% | 0.93% | 1.03% +0.10% | |
| 日本生命保険 last seen 2024 | Exited Top 10 | 1.00% | 1.00% | — |
| トヨタ不動産 last seen 2024 | Exited Top 10 | — | 0.91% | — |
| Concentration (HHI) ⓘ | 860 | 832 | 855 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥262,176M
-4% since 2023
Holdings
47
+9 new
32 exited
Trend
6 unwinding
vs 2023
| Held Company | FY2025 ¥262,176M total | FY2023 ¥271,730M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
TOYOTA INDUSTRIES CORPORATION
㈱豊田自動織機
|
194,310 |
15,294,053
|
112,411 | 15,294,053 | M |
| Indus Motor Company Limited | 10,952 |
9,825,000
|
4,095 | 9,825,000 | |
| TON YI INDUSTRIAL CORP. | 6,809 |
88,549,987
|
7,485 | 88,549,987 | |
|
KOITO MANUFACTURING CO.,LTD.
㈱小糸製作所
|
4,803 |
2,614,300
|
6,535 | 2,614,300 | M |
|
Lion Corporation
ライオン㈱
|
4,441 |
-28.5%
↓
2,506,000
|
5,017 | 3,506,000 | |
| PT Astra Otoparts Tbk. | 4,244 |
236,167,000
|
3,552 | 236,167,000 | |
|
House Foods Group Headquarters Co., Ltd.
ハウス食品グループ本社㈱
|
4,128 |
1,516,000
|
4,259 | 1,516,000 | M |
| Sam-A Aluminium Co., Ltd. | 3,737 |
1,500,000
|
11,150 | 1,500,000 | |
|
JTEKT Corporation
㈱ジェイテクト
|
3,365 |
-50.0%
↓
2,984,861
|
6,095 | 5,969,661 | M |
|
KIMURA UNITY CO.,LTD.
キムラユニティー㈱
|
3,216 |
2,000,000
|
2,066 | 2,000,000 | M |
|
Makita Corporation
㈱マキタ
|
2,586 |
525,206
|
1,722 | 525,206 | M |
| DM三井製糖ホールディングス㈱ | 2,261 |
-33.0%
↓
670,000
|
2,035 | 1,000,000 | |
| KPX Chemical Co., Ltd. | 2,120 |
486,598
|
2,380 | 486,598 | |
|
Showa Sangyo Co., Ltd.
昭和産業㈱
|
1,580 |
557,400
|
1,414 | 557,400 | M |
|
NIPPON SHOKUBAI CO., LTD.
㈱日本触媒
|
1,555 |
+300.0%
↑
892,800
|
1,178 | 223,200 | M |
|
Chubu Feed Co.
中部飼料㈱
|
1,271 |
945,000
|
986 | 945,000 | M |
|
AeroEdge Co.,Ltd.
AeroEdge㈱
|
1,163 |
NEW
New
460,000
|
— | ||
|
KYOWA LEATHER CLOTH CO.,LTD
共和レザー㈱
|
1,098 |
1,554,000
|
814 | 1,554,000 | |
|
KOMATSU LTD.
㈱小松製作所
|
993 |
230,753
|
756 | 230,753 | |
|
NIPPN CORPORATION
㈱ニップン
|
875 |
-49.9%
↓
403,291
|
1,336 | 805,291 | M |
|
TRINITY INDUSTRIAL CORPORATION
トリニティ工業㈱
|
676 |
580,818
|
392 | 580,818 | M |
|
TOKAI RIKA CO.,LTD.
㈱東海理化電機製作所
|
660 |
295,758
|
481 | 295,758 | M |
|
MEIKO TRANS CO.,LTD.
名港海運㈱
|
628 |
397,715
|
470 | 397,715 | M |
|
TAIHO KOGYO CO.,LTD.
大豊工業㈱
|
614 |
-3.3%
↓
1,035,300
|
680 | 1,071,000 | M |
| PT Tembaga Mulia Semanan Tbk | 601 |
+100.0%
↑
73,468,000
|
505 | 36,734,000 | |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
571 |
283,960
|
240 | 283,960 | |
|
NICHIWA SANGYO CO., LTD.
日和産業㈱
|
409 |
1,362,000
|
324 | 1,362,000 | M |
|
CHUO SPRING CO.,LTD.
中央発條㈱
|
400 |
NEW
New
238,428
|
— | M | |
|
TOKAI Corp.
㈱トーカイ
|
388 |
186,000
|
368 | 186,000 | M |
|
FEED ONE CO.,LTD.
フィード・ワン㈱
|
301 |
NEW
New
345,664
|
— | ||
| TORAY TEXTILES (THAILAND) PUBLIC COMPANY LIMITED | 295 |
1,341,549
|
267 | 1,341,549 | |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
269 |
NEW
New
71,100
|
— | ||
| ㈱МTG | 268 |
NEW
New
96,000
|
— | ||
|
Growth X Partners, Inc.
グロースエクスパートナーズ㈱
|
209 |
NEW
New
130,000
|
— | M | |
|
NIPPON KAYAKU CO.,LTD.
日本化薬㈱
|
173 |
-66.7%
↓
123,200
|
442 | 370,000 | M |
| Yao I Fabric Co., Ltd. | 117 |
NEW
New
1,200,000
|
— | ||
|
Sintokogio,Ltd.
新東工業㈱
|
75 |
NEW
New
90,877
|
— | M | |
|
Misonoza Co.
㈱御園座
|
15 |
NEW
New
9,000
|
— | ||
| Arcadium Lithium plc | — | — | |||
|
Fuji Nihon Corporation
フジ日本㈱
|
— | — | |||
|
FUTABA INDUSTRIAL CO., LTD.
フタバ産業㈱
|
— | — | |||
|
Chuo Shiki Kogyo Co., Ltd.
中央紙器工業㈱
|
— | — | |||
|
Renet Japan Group Co., Ltd.
リネットジャパングループ㈱
|
— | — | |||
|
YAMANAKA CO.,LTD.
㈱ヤマナカ
|
— | — | |||
|
SALA CORPORATION
㈱サーラコーポレーション
|
— | — | |||
|
HAMAMATSU PHOTONICS K.K.
浜松ホトニクス㈱
|
— | — | |||
| NUVVE Holding Corp. | — | — | |||
| Sheng Yu Steel CO., Ltd. | — |
−100%
Exit
—
|
4,191 | 36,734,988 | |
|
Maruichi Steel Pipe Co., Ltd.
丸一鋼管㈱
|
— |
−100%
Exit
—
|
1,490 | 512,279 | M |
| ㈱淀川製鋼所 | — |
−100%
Exit
—
|
1,141 | 420,000 | M |
|
Internet Initiative Japan Inc.
㈱インターネットイニシアティブ
|
— |
−100%
Exit
—
|
1,099 | 400,000 | |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
— |
−100%
Exit
—
|
790 | 50,000 | |
| Malayan Flour Mills Berhad | — |
−100%
Exit
—
|
700 | 30,269,600 | |
|
Renesas Electronics Corporation
ルネサスエレクトロニクス㈱
|
— |
−100%
Exit
—
|
403 | 210,700 | |
|
SANWAYUKA INDUSTRY CORPORATION
三和油化工業㈱
|
— |
−100%
Exit
—
|
1,102 | 336,000 | M |
|
Central Forest Group, Inc.
セントラルフォレストグループ㈱
|
— |
−100%
Exit
—
|
406 | 222,000 | |
|
Chubu Steel Plate Co.,Ltd.
中部鋼鈑㈱
|
— |
−100%
Exit
—
|
709 | 300,000 | |
|
J-OIL MILLS, INC.
㈱J-オイルミルズ
|
— |
−100%
Exit
—
|
206 | 135,720 | |
| Hanjoo Light Metal Co., Ltd. | — |
−100%
Exit
—
|
213 | 395,000 | |
| ALLKEM LIMITED | — |
−100%
Exit
—
|
41,871 | 39,296,636 | |
| Tube Investments of India Ltd. | — |
−100%
Exit
—
|
11,276 | 2,700,000 | |
|
TOYOTA BOSHOKU CORPORATION
トヨタ紡織㈱
|
— |
−100%
Exit
—
|
9,759 | 4,567,100 | M |
|
suzuki motor corporation
スズキ㈱
|
— |
−100%
Exit
—
|
4,238 | 882,209 | M |
|
DENSO CORPORATION
㈱デンソー
|
— |
−100%
Exit
—
|
3,243 | 435,796 | M |
| CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED | — |
−100%
Exit
—
|
2,411 | 2,700,000 | |
|
AISIN CORPORATION
㈱アイシン
|
— |
−100%
Exit
—
|
1,174 | 322,130 | M |
|
TOYODA GOSEI CO.,LTD.
豊田合成㈱
|
— |
−100%
Exit
—
|
1,104 | 484,519 | M |
|
HINO MORTORS,LTD.
日野自動車㈱
|
— |
−100%
Exit
—
|
830 | 1,502,500 | M |
| フジ日本精糖㈱ | — |
−100%
Exit
—
|
633 | 1,229,500 | M |
|
DAIKI ALUMINIUM INDUSTRY CO.,LTD.
㈱大紀アルミニウム工業所
|
— |
−100%
Exit
—
|
569 | 398,762 | M |
| Grab Holdings Limited | — |
−100%
Exit
—
|
415 | 1,034,748 | |
|
UNICHARM CORPORATION
ユニ・チャーム㈱
|
— |
−100%
Exit
—
|
369 | 67,909 | |
|
NIPPON STEEL CORPORATION
日本製鉄㈱
|
— |
−100%
Exit
—
|
345 | 110,729 | |
|
NTN CORPORATION
NTN㈱
|
— |
−100%
Exit
—
|
337 | 1,000,000 | |
|
Kurashiki Spinning Co., Ltd.
倉敷紡績㈱
|
— |
−100%
Exit
—
|
311 | 123,700 | M |
| SIAM STEEL SERVICE CENTER PUBLIC COMPANY LIMITED | — |
−100%
Exit
—
|
266 | 22,400,000 | |
|
SAPPORO HOLDINGS LIMITED
サッポロホールディングス㈱
|
— |
−100%
Exit
—
|
239 | 70,200 | |
| フィード・ワンホールディングス㈱ | — |
−100%
Exit
—
|
233 | 345,664 | |
|
ENEOS Holdings,Inc.
ENEOSホールディングス㈱
|
— |
−100%
Exit
—
|
202 | 434,800 | |
| Portfolio total | 262,176 | 271,730 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding