8931
WADAKOHSAN CORPORATION
和田興産株式会社
Real Estate
Wadakohsan Corporation develops and sells condominiums, detached houses, and residential land in Japan. It also rents, leases, and manages condominiums, offices stores, and parking lots. The company was founded in 1899 and is headquartered in Kobe, Japan.
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⚠ TSE Capital Mandate
P / Book
0.40×
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
¥42.1B
¥40.1B
¥38.8B
¥42.7B
¥41.8B
Cost of Sales
¥32.6B
¥30.4B
¥30.3B
¥34.3B
¥33.8B
Gross Profit
¥9.6B
¥9.8B
¥8.5B
¥8.4B
¥8.0B
SG&A
¥4.6B
¥4.5B
¥4.0B
¥4.0B
¥4.1B
Operating Income
¥5.0B
¥5.3B
¥4.5B
¥4.4B
¥3.9B
Non-Operating Income
¥75M
¥123M
¥41M
¥60M
¥48M
Dividend Income
¥4M
¥3M
¥6M
¥5M
¥5M
Interest Income
¥43M
¥8M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥1.1B
¥907M
¥750M
¥840M
¥769M
Interest Expense
¥946M
¥749M
¥613M
¥585M
¥637M
Ordinary Income
¥4.0B
¥4.5B
¥3.8B
¥3.6B
¥3.2B
Pre-tax Income
¥3.8B
¥4.5B
¥3.8B
¥3.5B
¥3.2B
Income Taxes
¥1.2B
¥1.4B
¥1.2B
¥1.1B
¥840M
Current Tax
¥1.2B
¥1.4B
¥1.3B
¥959M
¥948M
Deferred Tax
¥-23M
¥-40M
¥-95M
¥122M
¥-108M
Net Income (owners)
¥2.6B
¥3.1B
¥2.6B
¥2.4B
¥2.3B
EBITDA
¥5.8B
¥6.0B
¥5.2B
¥5.1B
¥4.6B
EPS
¥239.44
¥284.51
¥237.73
¥214.61
¥210.55
Shares Outstanding
11.1M
11.1M
11.1M
11.1M
11.1M
Shares Issued (total)
11.1M
11.1M
11.1M
11.1M
11.1M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥113.1B
¥110.7B
¥101.2B
¥86.1B
¥98.3B
Current Assets
¥79.9B
¥79.8B
¥72.4B
¥57.7B
¥69.9B
Cash & Deposits
¥12.6B
¥17.2B
¥17.3B
¥11.8B
¥17.0B
Trade Receivables
¥106M
¥6M
¥6M
¥5M
¥8M
Non-Current Assets
¥33.2B
¥30.9B
¥28.8B
¥28.4B
¥28.4B
PP&E
¥31.0B
¥28.6B
¥26.7B
¥26.4B
¥25.7B
Intangible Assets
¥612M
¥690M
¥668M
¥626M
¥618M
Investment Securities
¥299M
¥267M
¥233M
¥292M
¥300M
Deferred Tax Assets
¥510M
¥499M
¥466M
¥370M
¥502M
Total Liabilities
¥78.4B
¥77.7B
¥70.6B
¥57.6B
¥71.6B
Current Liabilities
¥32.0B
¥38.7B
¥34.7B
¥29.1B
¥47.8B
ST Debt
¥20.3B
¥19.3B
¥17.7B
¥17.0B
¥28.2B
Taxes Payable
¥588M
¥822M
¥853M
¥533M
¥672M
Non-Current Liabilities
¥46.4B
¥39.1B
¥35.8B
¥28.5B
¥23.8B
Total LT Borrowings
¥45.2B
¥38.0B
¥34.8B
¥27.5B
¥22.3B
Total Equity
¥34.7B
¥32.9B
¥30.7B
¥28.6B
¥26.7B
Capital Stock
¥1.4B
¥1.4B
¥1.4B
¥1.4B
¥1.4B
Capital Surplus
¥1.5B
¥1.5B
¥1.4B
¥1.4B
¥1.4B
Retained Earnings
¥32.0B
¥30.2B
¥27.8B
¥25.8B
¥23.9B
Treasury Stock
¥-203M
¥-206M
¥-0M
¥-0M
¥-0M
AOCI
¥69M
¥33M
¥17M
¥-23M
¥-52M
Equity (owners)
¥34.7B
¥32.9B
¥30.6B
¥28.6B
¥26.7B
Total Interest-Bearing Debt ⓘ
¥65.4B
¥57.3B
¥52.5B
¥44.5B
¥50.4B
Net Cash ⓘ
¥-52.8B
¥-40.1B
¥-35.2B
¥-32.7B
¥-33.4B
NCAV ⓘ
¥1.5B
¥2.0B
¥1.8B
¥180M
¥-1.7B
NCAV/Share
¥135
¥184
¥163
¥16
¥-153
BV/Share
¥3,122
¥2,964
¥2,761
¥2,577
¥2,406
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-9.0B
¥-1.9B
¥-1.2B
¥2.2B
¥8.2B
Interest Paid
¥-927M
¥-762M
¥-615M
¥-586M
¥-665M
Interest Received
¥46M
¥11M
¥6M
¥6M
¥5M
D&A
¥843M
¥732M
¥681M
¥707M
¥734M
Investing CF
¥-2.8B
¥-2.1B
¥-458M
¥-1.1B
¥191M
CapEx
¥2.9B
¥2.0B
¥694M
¥1.3B
¥695M
Proceeds from Invest.
—
—
¥105M
—
—
Financing CF
¥7.3B
¥3.9B
¥7.5B
¥-6.6B
¥-3.1B
Dividends Paid
¥-871M
¥-665M
¥-599M
¥-489M
¥-588M
Share Buybacks
—
¥-304M
—
—
—
LT Debt Repaid
¥-15.8B
¥-16.9B
¥-11.9B
¥-26.5B
¥-13.3B
Free Cash Flow
¥-11.9B
¥-4.0B
¥-1.9B
¥895M
¥7.5B
Net Change in Cash
¥-4.5B
¥-137M
¥5.8B
¥-5.5B
¥5.3B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
7.8%
9.8%
8.9%
8.6%
9.1%
ROA
2.3%
2.9%
2.8%
2.6%
2.4%
EPS
¥239.44
¥284.51
¥237.73
¥214.61
¥210.55
DPS
¥72.00
¥70.00
¥60.00
¥50.00
¥40.00
BPS
¥3,168.72
¥3,005.80
¥2,762.11
¥2,574.79
¥2,401.56
FCF/Share
¥-1,071
¥-359
¥-169
¥81
¥678
NCAV/Share
¥135
¥184
¥163
¥16
¥-153
Payout Ratio
30.1%
24.6%
25.2%
23.3%
19.0%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2026-05-13
NORIMASA WADA
45.42%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 2
#
Shareholder
Shares (thou.)
% of Total
1
株式会社四三二
2,500,000
22.68%
2
和田 憲昌
1,488,000
13.50%
3
和田 剛直
1,054,000
9.56%
4
大阪中小企業投資育成株式会社
560,600
5.09%
5
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
271,900
2.47%
6
柏木 修
200,000
1.81%
7
株式会社建隆インベストメント
184,100
1.67%
8
合資会社水谷商店
169,600
1.54%
9
河野 貴輝
125,000
1.13%
10
ワコーレ社員持株会
119,288
1.08%
Domestic Nominees
2.5%
+0.1% vs 2025
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2025
Sub-custodians for foreign asset managers
Direct / Strategic
58.1%
+0.0% vs 2025
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
2026
式会社四三二
22.52%
22.52%
22.68%
22.68%
和田 憲昌
13.41%
13.41%
13.50%
13.50%
和田 剛直
9.50%
9.50%
9.56%
9.56%
大阪中小企業投資育成
5.05%
5.05%
5.09%
5.09%
日本カストディ銀行
1.70%
1.69%
2.33%
2.47%
+0.14%
柏木 修
1.80%
1.80%
1.81%
1.81%
式会社建隆インベストメント
—
1.66%
1.67%
1.67%
資会社水谷商店
1.46%
1.46%
1.54%
1.54%
河野 貴輝
—
—
1.11%
1.13%
+0.02%
ワコーレ社員持株会
NEW ENTRY
—
—
—
—
1.08%
NEW
SIX SIS LTD.
last seen 2025
Exited Top 10
1.48%
1.21%
1.08%
—
式会社日住サービス
last seen 2024
Exited Top 10
1.30%
1.30%
—
—
頴川 欽和
last seen 2023
Exited Top 10
1.89%
—
—
—
Concentration (HHI)
ⓘ
818
817
830
831
4 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥59M
-44% since 2023
Holdings
2
1 exited
Trend
Stable
vs 2023
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding