8219
AOYAMA TRADING Co., Ltd.
青山商事株式会社
Retail Trade
Aoyama Trading Co., Ltd. engages in the business wear, credit card, printing and media, sundry sales, repair service, franchisee, real estate and other businesses in Japan. It offers suits, shoes, and casual clothing and other men's items; and ladies suits for job hunting, formal wear, and others. The company also issues and manages credit cards, as well as manages finance; provides sales promotion services, such as distributing flyers and direct mails. In addition, it offers repair services for shoes and key duplication under the Mister Minit brand; sells general merchandise; and operates stores, restaurants and fitness gyms. Further, it operates in the web media business. Aoyama Trading Co., Ltd. was incorporated in 1964 and is headquartered in Fukuyama, Japan.
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← Companies
⚠ TSE Capital Mandate
P / Book
0.56×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥189.0B
¥194.8B
¥193.7B
¥183.5B
¥166.0B
Cost of Sales
¥90.8B
¥94.6B
¥93.8B
¥89.7B
¥82.3B
Gross Profit
¥98.2B
¥100.2B
¥99.9B
¥93.8B
¥83.7B
SG&A
¥87.6B
¥87.6B
¥87.9B
¥86.7B
¥81.5B
Operating Income
¥10.6B
¥12.6B
¥11.9B
¥7.1B
¥2.2B
Non-Operating Income
¥1.3B
¥790M
¥1.2B
¥4.0B
¥5.3B
Dividend Income
—
¥168M
¥162M
¥154M
¥256M
Interest Income
—
¥176M
¥135M
¥82M
¥52M
Non-Operating Expenses
—
¥734M
¥626M
¥2.3B
¥2.3B
Interest Expense
—
¥548M
¥365M
¥360M
¥348M
Ordinary Income
¥10.9B
¥12.6B
¥12.5B
¥8.7B
¥5.2B
Pre-tax Income
¥9.8B
¥12.4B
¥11.4B
¥6.3B
¥2.9B
Income Taxes
¥2.8B
¥3.1B
¥1.2B
¥1.7B
¥1.8B
Current Tax
—
¥3.3B
¥2.8B
¥2.1B
¥1.7B
Deferred Tax
—
¥-217M
¥-1.6B
¥-420M
¥139M
Net Income (owners)
¥6.9B
¥9.4B
¥10.1B
¥4.3B
¥1.4B
Minority Interest
—
¥-10M
¥133M
¥254M
¥-237M
Comprehensive Income
—
¥8.4B
¥12.1B
¥5.9B
¥388M
EBITDA
¥17.7B
¥20.2B
¥19.7B
¥15.0B
¥9.9B
Goodwill Amort. (J-GAAP)
—
¥555M
¥911M
¥914M
¥865M
EPS
¥47.95
¥190.32
¥202.38
¥85.86
¥27.12
Shares Outstanding
—
48.9M
50.2M
50.2M
50.2M
Shares Issued (total)
—
50.4M
50.4M
50.4M
50.4M
Treasury Shares
—
1.5M
0.2M
0.2M
0.2M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥306.1B
¥318.4B
¥335.6B
¥336.2B
¥322.7B
Current Assets
¥179.7B
¥193.9B
¥207.1B
¥208.2B
¥188.2B
Cash & Deposits
¥59.1B
¥71.4B
¥82.6B
¥93.1B
¥73.4B
Trade Receivables
—
¥17.3B
¥18.1B
¥16.3B
¥15.3B
Non-Current Assets
¥126.4B
¥124.5B
¥128.5B
¥128.0B
¥134.4B
PP&E
¥85.4B
¥82.9B
¥83.8B
¥81.4B
¥84.0B
Goodwill
—
¥2.9B
¥3.6B
¥4.4B
¥5.4B
Intangible Assets
—
¥8.5B
¥8.5B
¥9.4B
¥11.0B
Investment Securities
¥6.1B
¥4.7B
¥7.5B
¥6.2B
¥5.3B
Deferred Tax Assets
—
¥11.0B
¥10.4B
¥9.4B
¥9.7B
Total Liabilities
¥125.2B
¥136.9B
¥154.7B
¥166.2B
¥158.2B
Current Liabilities
¥57.3B
¥68.7B
¥101.2B
¥85.7B
¥68.8B
Accounts Payable
—
¥11.3B
¥12.8B
¥14.5B
¥10.7B
ST Debt
¥15.5B
¥25.7B
¥36.3B
¥36.2B
¥30.5B
Taxes Payable
—
¥2.4B
¥2.1B
¥1.6B
¥1.3B
Non-Current Liabilities
¥67.9B
¥68.2B
¥53.5B
¥80.5B
¥89.4B
Total LT Borrowings
¥51.7B
¥51.6B
¥36.1B
¥63.5B
¥70.4B
Pension Obligations
—
¥7.8B
¥8.7B
¥8.3B
¥9.3B
Total Equity
¥180.9B
¥181.5B
¥180.9B
¥170.0B
¥164.5B
Capital Stock
—
¥62.5B
¥62.5B
¥62.5B
¥62.5B
Capital Surplus
—
¥62.1B
¥62.4B
¥62.4B
¥62.4B
Retained Earnings
¥69.0B
¥69.9B
¥65.4B
¥56.6B
¥53.1B
Treasury Stock
—
¥-4.2B
¥-1.4B
¥-1.5B
¥-1.6B
AOCI
—
¥-12.5B
¥-11.7B
¥-13.6B
¥-15.3B
Equity (owners)
¥186.5B
¥190.3B
¥188.8B
¥180.0B
¥176.4B
Minority Interests
—
¥3.7B
¥3.8B
¥3.6B
¥3.4B
Total Interest-Bearing Debt ⓘ
¥67.2B
¥77.2B
¥72.4B
¥99.7B
¥100.9B
Net Cash ⓘ
¥-8.1B
¥-5.8B
¥10.2B
¥-6.6B
¥-27.5B
NCAV ⓘ
¥54.4B
¥57.0B
¥52.4B
¥41.9B
¥30.0B
NCAV/Share
—
¥1,164
¥1,043
¥836
¥598
BV/Share
—
¥3,889
¥3,762
¥3,588
¥3,517
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥10.0B
¥13.8B
¥13.0B
¥23.1B
¥16.5B
Interest Paid
—
¥-552M
¥-342M
¥-342M
¥-338M
Interest Received
—
¥323M
¥283M
¥209M
¥277M
D&A
¥7.1B
¥7.1B
¥6.9B
¥7.0B
¥6.8B
Goodwill Amort.
—
¥555M
¥911M
¥914M
¥865M
Investing CF
¥-8.8B
¥5.7B
¥-2.5B
¥-3.3B
¥3.8B
CapEx
¥4.3B
¥3.6B
¥3.3B
¥1.8B
¥2.6B
Purchase Investments
—
¥-101M
¥-31M
¥-105M
¥-1M
Proceeds from Invest.
—
¥2.1B
¥511M
—
—
Financing CF
¥-19.0B
¥-21.1B
¥-18.5B
¥-4.5B
¥-469M
Dividends Paid
—
¥-4.8B
¥-1.3B
¥-401M
—
Share Buybacks
—
¥-3.1B
¥0M
¥0M
¥0M
LT Debt Repaid
—
¥-24.0B
¥-18.0B
¥-8.6B
¥-377M
Free Cash Flow
¥5.7B
¥10.2B
¥9.7B
¥21.3B
¥13.9B
Net Change in Cash
—
¥-1.5B
¥-8.0B
¥15.4B
¥20.0B
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
3.8%
5.3%
5.9%
2.6%
0.8%
ROA
2.2%
2.9%
3.0%
1.3%
0.4%
EPS
¥47.95
¥190.32
¥202.38
¥85.86
¥27.12
DPS
¥55.00
¥134.00
¥65.00
¥26.00
¥8.00
BPS
¥1,247.60
¥3,662.77
¥3,552.28
¥3,339.33
¥3,234.47
FCF/Share
—
¥209
¥193
¥424
¥278
NCAV/Share
—
¥1,164
¥1,043
¥836
¥598
Payout Ratio
114.7%
70.4%
32.1%
30.3%
29.5%
Event Timeline
S ShareholderA Capital Signal▾ Hide Chart
Large Shareholder Reports 16
Date Activist Stake Event Flag Demands Source
2025-11-21
Sumitomo Mitsui DS Asset Management Company, Limited
4.23%
-1.04%
change
Passive
—
2025-10-22
Sumitomo Mitsui DS Asset Management Company, Limited
5.27%
-1.1%
change
Passive
—
2025-04-07
Aoyama Bussan, Ltd.
12.59%
change
Passive
—
2025-04-04
Aoyama Bussan, Ltd.
12.59%
+0.03%
change
Passive
—
2025-02-06
Sumitomo Mitsui Trust Bank,Limited
4.5%
-1.08%
change
Passive
—
2024-11-08
Sumitomo Mitsui DS Asset Management Company, Limited
6.37%
-1.26%
change
Passive
—
2024-10-04
Sumitomo Mitsui Trust Bank,Limited
5.58%
-0.14%
change
Passive
—
2024-08-07
Sumitomo Mitsui DS Asset Management Company, Limited
7.63%
-1.12%
change
Passive
—
2024-07-04
Sumitomo Mitsui Trust Bank,Limited
5.72%
change
Passive
—
2024-04-05
Sumitomo Mitsui DS Asset Management Company, Limited
8.75%
+2.03%
change
Passive
—
2024-03-25
Sumitomo Mitsui DS Asset Management Company, Limited
6.72%
+1.35%
change
Passive
—
2023-12-15
Aoyama Bussan, Ltd.
12.56%
correction
Passive
—
2023-12-15
Aoyama Bussan, Ltd.
12.56%
correction
Passive
—
2023-11-30
Aoyama Bussan, Ltd.
12.58%
+0.02%
change
Passive
—
2023-10-20
Sumitomo Mitsui DS Asset Management Company, Limited
5.37%
initial_5pct
Passive
—
2023-06-15
Aoyama Bussan, Ltd.
12.56%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-12
16:00
Div Cut
¥3.9B ¥81.0/sh
-22%
Aoyama Shoji announced FY2026 (ended March 31, 2026) results significantly below forecast, with consolidated net profit …
Summary
Aoyama Shoji announced FY2026 (ended March 31, 2026) results significantly below forecast, with consolidated net profit down 27.2% YoY. Despite the earnings miss, the company maintained its period-end dividend at ¥81/share (vs. forecast ¥81/share), but this represents a 22.1% cut versus prior year's ¥104/share. Including the interim dividend of ¥55/share, total annual dividend is ¥136/share versus ¥134 prior year, indicating dividend discipline despite weak performance.
Deadline: 2026-06-29YoY: -22%
Source (JP)
2026年３月期の期末配当につきましては、業績が予想値を下回る結果となったことから、上記株主還元方針に則り算出いたしますと、直近の配当予想を下回ることとなります。しかしながら、期末配当につきましては、直近の配当予想どおり１株につき81円を予定いたします。
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
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）
6,812
13.92%
2
Japan Custody Bank
株式会社日本カストディ銀行（信託口）
3,899
7.96%
3
HK
株式会社ＨＫ
3,818
7.80%
4
ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ 505223 （常任代理人：株式会社みずほ銀行決済営業部）
2,147
4.38%
5
青山 理
1,526
3.11%
6
JP MORGAN CHASE BANK385781
ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ385781 （常任代理人：株式会社みずほ銀行決済営業部）
1,392
2.84%
7
星野商事株式会社
1,001
2.04%
8
有限会社青山物産
1,000
2.04%
9
ＢＮＹＭ ＡＳ ＡＧＴ／ＣＬＴＳ ＮＯＮＴＲＥＡＴＹ ＪＡＳＤＥＣ （常任代理人：株式会社三菱ＵＦＪ銀行決済事業部）
890
1.81%
10
ＤＩＭＥＮＳＩＯＮＡＬ ＥＴＦ ＴＲＵＳＴ―ＤＩＭＥＮＳＩＯＮＡＬＩＮＴＥＲＮＡＴＩＯＮＡＬ ＳＭＡＬＬＣＡＰ ＶＡＬＵＥ ＥＴＦ （常任代理人：シティバンク、エヌ・エイ東京支店）
789
1.61%
Domestic Nominees
21.9%
-0.5% 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
25.6%
+0.3% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Japan Master Trust Bank
日本マスタートラスト信託銀行
12.17%
14.38%
13.92%
-0.46%
Japan Custody Bank
日本カストディ銀行
8.74%
8.04%
7.96%
-0.08%
HK
式会社ＨＫ
5.97%
7.60%
7.80%
+0.20%
STATE STREET BANK AND TRUST COMPANY
ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ
3.47%
4.68%
4.38%
-0.30%
青山 理
3.01%
3.02%
3.11%
+0.09%
JP MORGAN CHASE BANK385781
ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ385781
2.07%
2.29%
2.84%
+0.55%
星野商事
1.99%
1.99%
2.04%
+0.05%
限会社青山物産
3.62%
1.99%
2.04%
+0.05%
ＢＮＹＭ ＡＳ ＡＧＴ／ＣＬＴＳ ＮＯＮＴＲＥＡＴＹ ＪＡＳＤＥＣ
NEW ENTRY
—
—
—
1.81%
NEW
ＤＩＭＥＮＳＩＯＮＡＬ ＥＴＦ ＴＲＵＳＴ―ＤＩＭＥＮＳＩＯＮＡＬＩＮＴＥＲＮＡＴＩＯＮＡＬ ＳＭＡＬＬＣＡＰ ＶＡＬＵＥ ＥＴＦ
NEW ENTRY
—
—
—
1.61%
NEW
Sumitomo Mitsui Banking Corporation
三井住友銀行
last seen 2024
Exited Top 10
1.99%
1.99%
—
THE BANK OF NEW YORKMELLON
ＴＨＥ ＢＡＮＫ ＯＦ ＮＥＷ ＹＯＲＫＭＥＬＬＯＮ
last seen 2024
Exited Top 10
—
1.73%
—
青山商事株式会社 社員持株会
last seen 2023
Exited Top 10
1.52%
—
—
Concentration (HHI)
ⓘ
309
380
369
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥3,870M
-28% since 2023
Holdings
7
1 exited
Trend
2 unwinding
vs 2023
Held Company
FY2025
¥3,870M total
FY2023
¥5,364M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Nisshinbo Holdings Inc.
日清紡ホールディングス(株)
995
1,094,000
1,107
1,094,000
M
TORAY INDUSTRIES,INC.
東レ(株)
772
-50.0%
↓
760,000
1,150
1,521,000
M
THE JAPAN WOOL TEXTILE CO., LTD.
日本毛織(株)
705
454,000
448
454,000
M
The Monogatari Corporation
(株)物語コーポレーション
677
-65.5%
↓
200,000
1,560
579,600
TEIJIN LIMITED
帝人(株)
369
281,800
393
281,800
TOYOBO CO.,LTD.
東洋紡(株)
231
246,000
255
246,000
Hirogin Holdings, Inc.
(株)ひろぎんホールディングス
121
100,000
62
100,000
WACOAL HOLDINGS CORP.
(株)ワコールホールディングス
—
−100%
Exit
—
389
156,500
Portfolio total 3,870
5,364
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding