8075
Shinsho Corporation
神鋼商事株式会社
Basic Materials · Steel
Shinsho Corporation imports, exports, and trades in iron and steel, ferrous raw material, nonferrous metal, machinery, information industry, and welding products worldwide. The company provides iron and steel products, including half-finished steel, special steel, construction material, casting and forging, carbon steel, wire rod, titanium and nickel alloy, and casting material and cast products; ferrous raw materials, such as materials for making iron and steel, and other products comprising titanium sponge, coke breeze, slag products, slag powder for blast furnaces, cement, refuse paper and plastic fuel, secondary cement products, iron sand, plastics, chemical products, titanium scrap, new materials, and other auxiliary materials; and nonferrous metals, which includes aluminum and cast products, aluminum and copper material, copper, and processed aluminum and copper products. It also offers machinery and electronics that include chemicals and food processing equipment; iron and steel, and non-ferrous metal related equipment; electronic and IT equipment; environment and energy-related equipment; and general industrial equipment. In addition, the company provides welding products, such as welding materials and welding-related equipment, and production materials. Shinsho Corporation was incorporated in 1946 and is headquartered in Osaka, Japan.
Price
¥2,448
Market Cap
¥21.7B
Ent. Value
¥61.5B
Net Debt
−¥39.9B
Shares Out.
8.9M
P / E
7.5×
EV / EBIT
4.7×
P / Book
0.71×
P / NCAV
0.50×
Div. Yield
12.25%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥617.2B | ¥591.4B | ¥584.9B | ¥494.4B |
| Cost of Sales | ¥576.8B | ¥552.3B | ¥546.3B | ¥460.8B |
| Gross Profit | ¥40.4B | ¥39.1B | ¥38.5B | ¥33.5B |
| SG&A | ¥27.2B | ¥25.8B | ¥25.1B | ¥23.5B |
| Operating Income | ¥13.2B | ¥13.3B | ¥13.5B | ¥10.1B |
| Non-Operating Income | ¥4.7B | ¥3.5B | ¥2.5B | ¥2.2B |
| Dividend Income | ¥1.3B | ¥1.2B | ¥954M | ¥727M |
| Interest Income | ¥380M | ¥325M | ¥226M | ¥127M |
| Non-Operating Expenses | ¥6.2B | ¥3.9B | ¥3.3B | ¥2.6B |
| Interest Expense | ¥1.9B | ¥2.1B | ¥1.4B | ¥788M |
| Ordinary Income | ¥11.8B | ¥12.8B | ¥12.7B | ¥9.7B |
| Pre-tax Income | ¥12.8B | ¥13.6B | ¥13.6B | ¥10.5B |
| Income Taxes | ¥4.3B | ¥4.5B | ¥4.1B | ¥2.8B |
| Current Tax | ¥3.9B | ¥4.0B | ¥3.6B | ¥3.2B |
| Deferred Tax | ¥397M | ¥506M | ¥517M | ¥-329M |
| Net Income (owners) | ¥8.6B | ¥9.1B | ¥9.2B | ¥7.1B |
| Minority Interest | ¥-117M | ¥-17M | ¥304M | ¥492M |
| Comprehensive Income | ¥8.5B | ¥16.1B | ¥12.8B | ¥8.8B |
| EBITDA | ¥15.0B | ¥14.8B | ¥15.0B | ¥11.5B |
| Goodwill Amort. (J-GAAP) | ¥91M | ¥38M | — | — |
| EPS | ¥324.24 | ¥1,035.38 | ¥1,042.65 | ¥805.91 |
| Shares Outstanding | 8.9M | 8.9M | 8.9M | 8.9M |
| Shares Issued (total) | 8.9M | 8.9M | 8.9M | 8.9M |
| Treasury Shares | 0.0M | 0.0M | 0.0M | 0.0M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥386.9B | ¥396.4B | ¥395.1B | ¥364.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥337.5B | ¥337.6B | ¥343.5B | ¥316.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥21.4B | ¥12.3B | ¥12.8B | ¥15.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥185.1B | ¥188.8B | ¥188.5B | ¥189.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥49.3B | ¥58.8B | ¥51.6B | ¥47.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥8.6B | ¥8.8B | ¥8.5B | ¥7.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥327M | ¥418M | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥2.0B | ¥2.2B | ¥1.6B | ¥1.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥32.6B | ¥40.7B | ¥33.9B | ¥31.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥1.9B | ¥1.4B | ¥2.0B | ¥1.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥293.9B | ¥308.9B | ¥321.2B | ¥300.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥272.2B | ¥281.0B | ¥297.9B | ¥279.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥159.2B | ¥163.5B | ¥174.6B | ¥161.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥45.9B | ¥40.2B | ¥45.6B | ¥50.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥1.9B | ¥2.2B | ¥2.1B | ¥2.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥21.7B | ¥28.0B | ¥23.3B | ¥21.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥15.3B | ¥20.6B | ¥18.0B | ¥16.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥970M | ¥828M | ¥692M | ¥658M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥4.0B | ¥4.3B | ¥2.3B | ¥1.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥93.0B | ¥87.5B | ¥73.9B | ¥63.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥5.7B | ¥5.7B | ¥5.7B | ¥5.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥2.6B | ¥2.6B | ¥2.6B | ¥2.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥69.2B | ¥63.6B | ¥57.1B | ¥50.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-220M | ¥-241M | ¥-243M | ¥-17M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥14.2B | ¥14.3B | ¥7.4B | ¥4.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥77.2B | ¥71.6B | ¥65.1B | ¥58.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥1.5B | ¥1.5B | ¥1.4B | ¥814M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥61.3B | ¥60.8B | ¥63.6B | ¥66.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-39.9B | ¥-48.4B | ¥-50.8B | ¥-51.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥43.6B | ¥28.7B | ¥22.3B | ¥16.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥4,930 | ¥3,237 | ¥2,516 | ¥1,844 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥8,721 | ¥8,092 | ¥7,352 | ¥6,648 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥7.0B | ¥9.1B | ¥7.7B | ¥-9.3B |
| Interest Paid | ¥-1.9B | ¥-2.1B | ¥-1.4B | ¥-820M |
| Interest Received | ¥1.8B | ¥1.6B | ¥1.6B | ¥1.1B |
| D&A | ¥1.6B | ¥1.5B | ¥1.5B | ¥1.5B |
| Goodwill Amort. | ¥91M | ¥38M | — | — |
| Investing CF | ¥6.7B | ¥-2.8B | ¥-1.5B | ¥-806M |
| CapEx | ¥731M | ¥901M | ¥1.1B | ¥1.1B |
| Financing CF | ¥-5.0B | ¥-7.2B | ¥-9.2B | ¥4.1B |
| Dividends Paid | ¥-3.0B | ¥-2.6B | ¥-2.7B | ¥-1.1B |
| LT Debt Repaid | ¥-3.0B | ¥-2.5B | ¥-7.9B | ¥-2.6B |
| Free Cash Flow | ¥6.3B | ¥8.2B | ¥6.6B | ¥-10.3B |
| Net Change in Cash | ¥9.1B | ¥-492M | ¥-2.6B | ¥-5.5B |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 9.7% | 11.5% | 13.6% | 12.0% |
| ROA | 2.2% | 2.3% | 2.4% | 2.0% |
| EPS | ¥324.24 | ¥1,035.38 | ¥1,042.65 | ¥805.91 |
| DPS | ¥300.00 | ¥315.00 | ¥315.00 | ¥245.00 |
| BPS | ¥3,461.36 | ¥9,770.13 | ¥8,235.14 | ¥7,107.83 |
| FCF/Share | ¥707 | ¥925 | ¥741 | ¥-1,168 |
| NCAV/Share | ¥4,930 | ¥3,237 | ¥2,516 | ¥1,844 |
| Payout Ratio | 92.5% | 30.4% | 30.2% | 30.4% |
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-22
13:00
|
Div Cut | ¥1.4B ¥53.0/sh -65% | Shin-Kobe Shoji announced a dividend of ¥53 per share for fiscal year ended March 31, 2026, based on board resolution on… | |
|
Summary
Shin-Kobe Shoji announced a dividend of ¥53 per share for fiscal year ended March 31, 2026, based on board resolution on May 22, 2026. This represents a significant 64.7% decline from the prior year's ¥150 per share (adjusted for 3-for-1 stock split in April 2025). The total dividend payout is ¥1.408 billion, representing a shift toward the company's stated dividend policy target of 30%+ payout ratio or ¥100+ per share minimum.
Deadline: 2026-06-09
YoY: -65%
Source (JP)
当社は、本日開催の取締役会において、下記のとおり 2026 年3月 31 日を基準日とする剰余金の配当を行うことを決議いたしました。1株あたり配当金 53 円 00 銭
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 | みずほ信託銀行㈱(退職給付信託神戸製鋼所口) | 1,906 | 21.53% |
| 2 | ㈱神戸製鋼所 | 1,179 | 13.32% |
| 3 | 神商取引先持株会 | 815 | 9.21% |
| 4 |
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)
|
623 | 7.04% |
| 5 |
Custody Bank of Japan, Ltd. (Trust Account)
㈱日本カストディ銀行(信託口)
|
483 | 5.46% |
| 6 | 神鋼商事従業員持株会 | 211 | 2.39% |
| 7 | シンフォニアテクノロジー㈱ | 150 | 1.69% |
| 8 | DFA INTL SMALL CAP VALUE PORTFOLIO(常任代理人 シティバンク、エヌ・エイ) | 115 | 1.30% |
| 9 | 芦田 藤次郎 | 102 | 1.15% |
| 10 | みずほ信託銀行㈱(退職給付信託神鋼鋼線工業口) | 80 | 0.91% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
34.9%
-1.3% 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
29.1%
+0.2% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 64.0% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| みずほ信託銀行 | 21.53% | 22.44% | 22.44% | |
| ㈱神戸製鋼所 | 13.32% | 13.32% | 13.32% | |
| 神商取引先持株会 | 9.10% | 8.92% | 9.21% +0.29% | |
| 日本マスタートラスト信託銀行 | 7.01% | 7.69% | 7.04% -0.65% | |
| 日本カストディ銀行 | 2.11% | 6.07% | 5.46% -0.61% | |
| 神鋼商事従業員持株会 | 2.56% | 2.34% | 2.39% +0.05% | |
| シンフォニアテクノロジー | 1.69% | 1.69% | 1.69% | |
| DFA INTL SMALL CAP VALUE PORTFOLIO | 1.37% | 1.24% | 1.30% +0.06% | |
| 芦田 藤次郎 | 1.18% | 1.31% | 1.15% -0.16% | |
| 三菱UFJ銀行 last seen 2023 | Exited Top 10 | 1.23% | — | — |
| Concentration (HHI) ⓘ | 792 | 868 | 857 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥13,258M
-1% since 2023
Holdings
30
9 exited
Trend
4 unwinding
vs 2023
| Held Company | FY2025 ¥13,258M total | FY2023 ¥13,451M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Kobe Steel, Ltd.
㈱神戸製鋼所
|
2,730 |
-33.3%
↓
1,578,200
|
2,492 | 2,367,200 | M |
|
SINFONIA TECHNOLOGY CO., LTD.
シンフォニアテクノロジー㈱
|
2,392 |
400,000
|
630 | 400,000 | M |
|
Sanoh Industrial Co.,Ltd.
三櫻工業㈱
|
1,460 |
2,212,525
|
1,458 | 2,212,525 | M |
|
Inaba Denki Sangyo Co., Ltd.
因幡電機産業㈱
|
1,133 |
298,400
|
862 | 298,400 | M |
| フルサト・マルカホールディングス㈱ | 922 |
386,800
|
1,083 | 386,800 | M |
| ㈱淀川製鋼所 | 851 |
-33.3%
↓
152,800
|
622 | 229,200 | |
|
KIMURA KOHKI Co.,Ltd.
木村工機㈱
|
797 |
100,000
|
154 | 100,000 | M |
|
KYOEI STEEL LTD.
共英製鋼㈱
|
677 |
360,000
|
578 | 360,000 | M |
|
Sanwa Holdings Corporation
三和ホールディングス㈱
|
593 |
-33.4%
↓
124,500
|
264 | 186,800 | M |
|
Kawagishi Kogyo Co., Ltd.
川岸工業㈱
|
529 |
141,700
|
374 | 141,700 | |
|
KOIKE SANSO KOGYO CO.,LTD.
小池酸素工業㈱
|
310 |
49,220
|
113 | 49,220 | M |
|
MORY INDUSTRIES INC.
モリ工業㈱
|
249 |
50,000
|
173 | 50,000 | |
|
YAMAX Corp.
㈱ヤマックス
|
140 |
100,000
|
46 | 100,000 | |
|
KOBELCO WIRE COMPANY, LTD.
神鋼鋼線工業㈱
|
135 |
100,000
|
102 | 100,000 | |
|
KAWADA TECHNOLOGIES,INC.
川田テクノロジーズ㈱
|
132 |
+200.0%
↑
45,600
|
57 | 15,200 | |
|
toho acetylene co.,ltd.
東邦アセチレン㈱
|
106 |
+400.0%
↑
297,000
|
80 | 59,400 | M |
|
KOMAIHALTEC Inc.
㈱駒井ハルテック
|
33 |
21,100
|
35 | 21,100 | |
|
DAIDO KOGYO CO.,LTD.
大同工業㈱
|
27 |
32,000
|
24 | 32,000 | |
|
KOATSU GAS KOGYO CO., LTD.
高圧ガス工業㈱
|
20 |
+10.8%
↑
23,488
|
14 | 21,197 | |
|
FUTABA CORPORATION
双葉電子工業㈱
|
6 |
11,600
|
6 | 11,600 | M |
|
Special Electrode Co., Ltd.
特殊電極㈱
|
5 |
+82.4%
↑
2,451
|
3 | 1,344 | |
|
Nippon Koshuha Steel Co., Ltd.
日本高周波鋼業㈱
|
5 |
15,000
|
5 | 15,000 | |
|
SUBARU CORPORATION
㈱SUBARU
|
5 |
2,000
|
4 | 2,000 | |
|
DAIHEN CORPORATION
㈱ダイヘン
|
1 |
-98.3%
↓
202
|
51 | 11,640 | M |
|
Mitsubishi Electric Corporation
三菱電機㈱
|
— | — | |||
|
OSAKA STEEL CO.,LTD.
大阪製鐵㈱
|
— | — | |||
|
Sanken Electric Co.,Ltd.
サンケン電気㈱
|
— | — | |||
|
ROHM COMPANY LIMITED
ローム㈱
|
— | — | |||
|
ENOMOTO CO.,LTD
㈱エノモト
|
— | — | |||
|
Shizuoka Financial Group, Inc.
㈱しずおかフィナンシャルグループ
|
— | — | |||
|
Maruichi Steel Pipe Co., Ltd.
丸一鋼管㈱
|
— |
−100%
Exit
—
|
2,865 | 984,800 | M |
|
NITTO SEIKO CO.,LTD.
日東精工㈱
|
— |
−100%
Exit
—
|
848 | 1,499,746 | M |
|
AIR WATER INC.
エア・ウォーター㈱
|
— |
−100%
Exit
—
|
83 | 50,000 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
— |
−100%
Exit
—
|
243 | 287,200 | |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
— |
−100%
Exit
—
|
92 | 49,070 | |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
— |
−100%
Exit
—
|
75 | 14,160 | |
|
KANESO CO.,LTD.
カネソウ㈱
|
— |
−100%
Exit
—
|
8 | 2,100 | M |
|
Tokuyama Corporation
㈱トクヤマ
|
— |
−100%
Exit
—
|
5 | 2,613 | |
|
DIJET INDUSTRIAL CO., LTD.
ダイジェット工業㈱
|
— |
−100%
Exit
—
|
2 | 3,000 | M |
| Portfolio total | 13,258 | 13,451 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding