8065
SATO SHO-JI CORPORATION
佐藤商事株式会社
Wholesale Trade
Sato Shoji Corporation sells iron and steel products, non-ferrous metals, machines, electronic materials, industrial tools, lifestyle goods, precious metals and jewelry, construction materials, and environment-related goods in Japan. The company offers normal and specialty steel sheets, bar steel, wire rods, section steel, steel pipes, processed products, and building materials for automobiles, construction machinery, bridge building, construction, electrical machinery, and ship building and molds industries. It also sells aluminum, zinc, copper, tin, lead, nickel, magnesium, silicon, manganese, bismuth, copper products, phosphor bronze, extruded products, processed goods using aluminum cutting, CFRP, resin composite products, GMT, non-ferrous metal scrap, hastelloy, inconel and stainless steel, as well as components, including block rings, cast and wrought, die cast, stainless processed, heat exchangers, lost-wax, peripheral equipment, and other products. In addition, the company offers materials for printed circuit board, semiconductor and liquid crystal, electronic components, and automotive related and other products used in mobile phones and household appliances, such as personal computers and digital cameras, sub-materials, equipment and machines related to manufacturing; and machinery and tools products, such as machining tools, forging machine, automation, various machines, cutting tools, and others products. Further, it provides the Martian, DANSK, and Sori Yanagi branded Western crockery and cutlery, precious metals and accessories, as well as tableware and kitchen goods. The company was founded in 1930 and is headquartered in Tokyo, Japan.
Price
¥3,240
Market Cap
¥68.0B
Ent. Value
¥96.3B
Net Debt
−¥28.3B
Shares Out.
21.0M
P / E
11.3×
EV / EBIT
14.1×
P / Book
1.00×
P / NCAV
2.97×
Div. Yield
2.35%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥284.6B | ¥274.0B | ¥275.0B | ¥236.2B |
| Cost of Sales | ¥261.8B | ¥253.1B | ¥253.7B | ¥216.5B |
| Gross Profit | ¥22.8B | ¥20.8B | ¥21.3B | ¥19.7B |
| SG&A | ¥16.0B | ¥14.4B | ¥15.1B | ¥14.0B |
| Operating Income | ¥6.8B | ¥6.5B | ¥6.1B | ¥5.7B |
| Non-Operating Income | ¥954M | ¥1.2B | ¥965M | ¥813M |
| Dividend Income | ¥641M | ¥838M | ¥507M | ¥384M |
| Interest Income | ¥30M | ¥13M | ¥5M | ¥6M |
| Non-Operating Expenses | ¥579M | ¥373M | ¥382M | ¥284M |
| Interest Expense | ¥402M | ¥281M | ¥266M | ¥166M |
| Ordinary Income | ¥7.2B | ¥7.3B | ¥6.7B | ¥6.3B |
| Pre-tax Income | ¥8.4B | ¥8.9B | ¥8.8B | ¥5.9B |
| Income Taxes | ¥2.4B | ¥2.4B | ¥2.6B | ¥1.9B |
| Current Tax | ¥2.5B | ¥2.3B | ¥2.5B | ¥2.1B |
| Deferred Tax | ¥-163M | ¥111M | ¥129M | ¥-154M |
| Net Income (owners) | ¥6.0B | ¥6.5B | ¥6.2B | ¥4.0B |
| Minority Interest | ¥2M | ¥2M | ¥2M | ¥1M |
| Comprehensive Income | ¥5.1B | ¥10.7B | ¥6.6B | ¥4.9B |
| EBITDA | ¥8.0B | ¥7.5B | ¥7.1B | ¥6.8B |
| EPS | ¥285.90 | ¥306.89 | ¥293.34 | ¥189.52 |
| Shares Outstanding | 21.0M | 21.0M | 21.1M | 21.1M |
| Shares Issued (total) | 21.8M | 21.8M | 21.8M | 21.8M |
| Treasury Shares | 0.8M | 0.8M | 0.7M | 0.7M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥171.1B | ¥172.9B | ¥163.7B | ¥152.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥125.6B | ¥128.3B | ¥128.1B | ¥117.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥3.9B | ¥3.2B | ¥3.3B | ¥2.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥55.0B | ¥53.7B | ¥56.1B | ¥50.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥45.5B | ¥44.6B | ¥35.6B | ¥34.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥24.6B | ¥21.7B | ¥17.7B | ¥16.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥208M | ¥186M | ¥177M | ¥162M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥17.9B | ¥20.5B | ¥15.7B | ¥15.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥96M | ¥90M | ¥76M | ¥77M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥102.7B | ¥107.7B | ¥107.6B | ¥101.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥92.3B | ¥92.1B | ¥91.9B | ¥88.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥26.1B | ¥18.2B | ¥20.3B | ¥22.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥1.5B | ¥1.1B | ¥1.5B | ¥1.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥10.4B | ¥15.5B | ¥15.7B | ¥13.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥6.1B | ¥10.7B | ¥12.5B | ¥10.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥217M | ¥172M | ¥154M | ¥135M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥3.8B | ¥4.3B | ¥2.6B | ¥2.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥68.5B | ¥65.2B | ¥56.1B | ¥50.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥1.3B | ¥1.3B | ¥1.3B | ¥1.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥732M | ¥818M | ¥838M | ¥862M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥56.4B | ¥51.9B | ¥46.9B | ¥42.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-1.0B | ¥-872M | ¥-760M | ¥-740M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥10.7B | ¥11.6B | ¥7.4B | ¥7.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥57.4B | ¥53.2B | ¥48.3B | ¥43.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥17M | ¥14M | ¥11M | ¥8M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥32.2B | ¥28.8B | ¥32.8B | ¥32.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-28.3B | ¥-25.6B | ¥-29.5B | ¥-29.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥22.9B | ¥20.6B | ¥20.5B | ¥16.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥1,092 | ¥979 | ¥972 | ¥793 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥2,736 | ¥2,529 | ¥2,293 | ¥2,066 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥2.1B | ¥8.2B | ¥869M | ¥-12.6B |
| Interest Paid | ¥-406M | ¥-286M | ¥-258M | ¥-161M |
| Interest Received | ¥672M | ¥853M | ¥511M | ¥402M |
| D&A | ¥1.2B | ¥1.1B | ¥998M | ¥1.0B |
| Investing CF | ¥-3.0B | ¥-2.7B | ¥175M | ¥-1.5B |
| CapEx | ¥4.3B | ¥4.9B | ¥2.4B | ¥366M |
| Purchase Investments | ¥-286M | ¥-26M | ¥-23M | ¥-48M |
| Proceeds from Invest. | ¥1.3B | ¥1.9B | ¥19M | ¥112M |
| Financing CF | ¥1.3B | ¥-5.8B | ¥-876M | ¥14.4B |
| Dividends Paid | ¥-1.6B | ¥-1.5B | ¥-1.3B | ¥-1.0B |
| Share Buybacks | ¥-323M | ¥-176M | ¥-100M | ¥-499M |
| LT Debt Repaid | ¥-4.6B | ¥-4.6B | ¥-4.2B | ¥-3.6B |
| Free Cash Flow | ¥-2.2B | ¥3.4B | ¥-1.5B | ¥-12.9B |
| Net Change in Cash | ¥480M | ¥-170M | ¥410M | ¥416M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 9.0% | 10.7% | 11.7% | 8.2% |
| ROA | 3.5% | 3.8% | 3.9% | 2.6% |
| EPS | ¥285.90 | ¥306.89 | ¥293.34 | ¥189.52 |
| DPS | ¥76.00 | ¥73.00 | ¥67.00 | ¥58.00 |
| BPS | ¥3,247.11 | ¥3,081.59 | ¥2,644.27 | ¥2,399.63 |
| FCF/Share | ¥-103 | ¥160 | ¥-72 | ¥-613 |
| NCAV/Share | ¥1,092 | ¥979 | ¥972 | ¥793 |
| Payout Ratio | 26.6% | 23.8% | 22.8% | 30.6% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 3
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
1,816 | 8.30% |
| 2 | 三神興業株式会社 | 1,590 | 7.30% |
| 3 |
ISUZU MOTORS LIMITED
いすゞ自動車株式会社
|
1,451 | 6.70% |
| 4 |
Business Partner Stock Ownership Plan
佐藤商事取引先持株会
|
621 | 2.80% |
| 5 |
NOK
NOK株式会社
|
619 | 2.80% |
| 6 |
CMK CORPORATION
日本シイエムケイ株式会社
|
612 | 2.80% |
| 7 |
Resona Bank
株式会社りそな銀行
|
554 | 2.50% |
| 8 | 三原不動産株式会社 | 530 | 2.40% |
| 9 |
Stock Ownership Plan
マーシャン持株会
|
516 | 2.40% |
| 10 |
Sanyo Special Steel Co.,Ltd.
山陽特殊製鋼株式会社
|
499 | 2.20% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
8.3%
+0.1% 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
31.9%
-0.6% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 40.2% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 8.30% | 8.20% | 8.30% +0.10% | |
| 三神興業 | 7.50% | 7.60% | 7.30% -0.30% | |
| ISUZU MOTORS LIMITED いすゞ自動車 | 6.90% | 6.90% | 6.70% -0.20% | |
| NOK NOK | — | 2.90% | 2.80% -0.10% | |
| Business Partner Stock Ownership Plan 佐藤商事取引先持株会 | 2.50% | 2.80% | 2.80% | |
| CMK CORPORATION 日本シイエムケイ | 2.40% | 2.40% | 2.80% +0.40% | |
| Resona Bank りそな銀行 | 2.60% | 2.60% | 2.50% -0.10% | |
| 三原不動産 | 2.50% | 2.50% | 2.40% -0.10% | |
| Stock Ownership Plan マーシャン持株会 | 2.40% | 2.40% | 2.40% | |
| Sanyo Special Steel Co.,Ltd. 山陽特殊製鋼 | 2.40% | 2.40% | 2.20% -0.20% | |
| NOK last seen 2023 | Exited Top 10 | 2.90% | — | — |
| Concentration (HHI) ⓘ | 218 | 219 | 213 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥12,449M
+11% since 2023
Holdings
37
+3 new
16 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥12,449M total | FY2023 ¥11,213M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
ISUZU MOTORS LIMITED
いすゞ自動車㈱
|
3,697 |
+0.7%
↑
1,833,443
|
2,875 | 1,821,248 | M |
|
DAIFUKU CO.,LTD.
㈱ダイフク
|
1,092 |
300,000
|
732 | 300,000 | M |
|
NOK CORPORATION
NOK㈱
|
998 |
456,000
|
667 | 456,000 | M |
|
CMK CORPORATION
日本シイエムケイ㈱
|
608 |
+23.8%
↑
1,506,300
|
554 | 1,216,700 | M |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
572 |
+200.0%
↑
150,780
|
266 | 50,260 | |
|
TOKYO SEIMITSU CO., LTD.
㈱東京精密
|
535 |
67,300
|
344 | 67,300 | M |
|
YAMABIKO CORPORATION
㈱やまびこ
|
477 |
200,800
|
264 | 200,800 | M |
|
KAWADEN CORPORATION
かわでん㈱
|
459 |
115,000
|
204 | 115,000 | M |
|
TOKYO RADIATOR MFG. CO., LTD.
東京ラヂエーター製造㈱
|
452 |
501,000
|
265 | 501,000 | |
|
DAIKI ALUMINIUM INDUSTRY CO.,LTD.
㈱大紀アルミニウム工業所
|
441 |
444,000
|
634 | 444,000 | M |
|
Maruzen Showa Unyu Co,.Ltd.
丸全昭和運輸㈱
|
424 |
70,600
|
227 | 70,600 | M |
|
Bunka Shutter Co.,Ltd.
文化シヤッター㈱
|
401 |
214,000
|
236 | 214,000 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
395 |
196,420
|
166 | 196,420 | |
|
KYOKUTO KAIHATSU KOGYO CO.,LTD.
極東開発工業㈱
|
364 |
154,000
|
248 | 154,000 | M |
|
Resona Holdings, Inc.
㈱りそなホールディングス
|
329 |
256,231
|
163 | 256,231 | |
|
譬ェ蠑丈シ夂、セ繧√�カ縺阪ヵ繧」繝翫Φ繧キ繝」繝ォ繧ー繝ォ繝シ繝�
㈱めぶきフィナンシャルグループ
|
205 |
283,140
|
91 | 283,140 | |
|
NEPON Inc.
ネポン㈱
|
187 |
120,000
|
204 | 120,000 | |
|
OKUMA Corporation
オークマ㈱
|
177 |
+104.1%
↑
52,170
|
151 | 25,566 | M |
|
UACJ Corporation
㈱UACJ
|
119 |
NEW
New
25,100
|
— | M | |
|
Mitsubishi Steel Mfg. Co.,Ltd.
三菱製鋼㈱
|
114 |
70,000
|
81 | 70,000 | M |
|
Chugai Ro Co.,Ltd.
中外炉工業㈱
|
74 |
20,200
|
37 | 20,200 | M |
|
NIHON PARKERIZING CO., LTD.
日本パーカライジング㈱
|
66 |
56,000
|
55 | 56,000 | M |
|
Yashima Kizai Co., Ltd.
㈱ヤシマキザイ
|
58 |
25,000
|
49 | 25,000 | M |
|
toyo tec co ., ltd
東洋テック㈱
|
44 |
33,000
|
31 | 33,000 | M |
|
Sanyo Industries Co., Ltd.
三洋工業㈱
|
38 |
+12.0%
↑
12,686
|
20 | 11,326 | |
|
Miroku Corporation
㈱ミロク
|
32 |
29,000
|
44 | 29,000 | |
|
TOPY INDUSTRIES,LIMITED
トピー工業㈱
|
22 |
10,600
|
20 | 10,600 | M |
|
SHIKOKU KASEI HOLDINGS CORPOLATION
四国化成ホールディングス㈱
|
20 |
NEW
New
10,937
|
— | M | |
|
Denyo Co.,Ltd.
デンヨー㈱
|
14 |
6,000
|
10 | 6,000 | |
|
AIRMAN CORPORATION
㈱AIRMAN
|
11 |
NEW
New
6,000
|
— | ||
|
Yorozu Corporation
㈱ヨロズ
|
11 |
11,000
|
9 | 11,000 | |
|
SANDEN CORPORATION
サンデン㈱
|
5 |
-71.4%
↓
42,785
|
31 | 149,818 | |
|
KUBOTA CORPORATION
㈱クボタ
|
4 |
+36.2%
↑
2,405
|
3 | 1,766 | |
|
SUMITOMO HEAVY INDUSTRIES,LTD.
住友重機械工業㈱
|
2 |
960
|
3 | 960 | |
|
KOGI CORPORATION
虹技㈱
|
1 |
1,500
|
1 | 1,500 | |
|
The Lead Co., Inc.
㈱リード
|
1 |
3,200
|
2 | 3,200 | M |
| ジェイエフイーホールディングス㈱ | — | — | |||
|
Sanyo Special Steel Co.,Ltd.
山陽特殊製鋼㈱
|
— |
−100%
Exit
—
|
388 | 158,600 | M |
|
Daido Special Steel Co., Ltd.
大同特殊鋼㈱
|
— |
−100%
Exit
—
|
185 | 35,600 | |
| ㈱レゾナックホールディングス | — |
−100%
Exit
—
|
83 | 38,300 | |
|
DMG MORI CO., LTD.
DMG森精機㈱
|
— |
−100%
Exit
—
|
42 | 19,271 | |
|
Toho Zinc Co., Ltd.
東邦亜鉛㈱
|
— |
−100%
Exit
—
|
32 | 16,200 | M |
|
Isetan Mitsukoshi Holdings Ltd.
㈱三越伊勢丹ホールディングス
|
— |
−100%
Exit
—
|
7 | 4,760 | |
|
OILES CORPORATION
オイレス工業㈱
|
— |
−100%
Exit
—
|
8 | 4,976 | |
|
Imperial Hotel, Ltd.
㈱帝国ホテル
|
— |
−100%
Exit
—
|
7 | 4,000 | |
|
IJTT Co.,Ltd.
㈱IJTT
|
— |
−100%
Exit
—
|
527 | 990,020 | M |
|
HINO MORTORS,LTD.
日野自動車㈱
|
— |
−100%
Exit
—
|
434 | 785,000 | M |
|
SNTCORPORATION
㈱シンニッタン
|
— |
−100%
Exit
—
|
413 | 1,693,200 | M |
|
JFE Holdings,Inc.
JFEホールディングス㈱
|
— |
−100%
Exit
—
|
240 | 143,100 | |
|
SANYU CO.,LTD.
㈱サンユウ
|
— |
−100%
Exit
—
|
120 | 180,000 | |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
— |
−100%
Exit
—
|
27 | 14,800 | |
| 北越工業㈱ | — |
−100%
Exit
—
|
8 | 6,000 | |
| 四国化成工業㈱ | — |
−100%
Exit
—
|
5 | 3,882 | |
| Portfolio total | 12,449 | 11,213 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding