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株式会社ＡＳＮＯＶＡ

Services

ASNOVA Co., Ltd. engages in scaffolding sale and rental business in Japan. It is also involved in temporary toilet rental business. The company was incorporated in 2013 and is headquartered in Nagoya, Japan.

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Price

¥396

Market Cap

¥4.9B

Ent. Value

¥11.7B

Net Debt

−¥6.8B

Shares Out.

12.4M

P / E

—

EV / EBIT

2,162.2×

P / Book

1.66×

P / NCAV

N/M

Div. Yield

0.25%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥4.9B	¥4.3B	¥3.8B	¥3.1B	¥2.7B
Cost of Sales	¥3.6B	¥3.3B	¥2.6B	¥2.3B	¥1.9B
Gross Profit	¥1.3B	¥1.0B	¥1.1B	¥806M	¥810M
SG&A	¥1.3B	¥959M	¥787M	¥618M	¥644M
Operating Income	¥5M	¥49M	¥350M	¥188M	¥166M
Non-Operating Income	¥72M	¥54M	¥12M	¥45M	¥141M
Non-Operating Expenses	—	¥57M	¥37M	¥20M	¥20M
Interest Expense	—	¥47M	¥19M	¥13M	¥10M
Ordinary Income	¥-85M	¥46M	¥324M	¥213M	¥288M
Pre-tax Income	¥-85M	¥71M	¥324M	¥213M	¥323M
Income Taxes	¥61M	¥96M	¥114M	¥69M	¥119M
Current Tax	—	¥114M	¥141M	¥53M	¥140M
Deferred Tax	—	¥-18M	¥-27M	¥15M	¥-21M
Net Income (owners)	¥-146M	¥-25M	¥210M	¥144M	¥205M
Comprehensive Income	—	¥-23M	¥212M	¥132M	—
EBITDA	¥2.0B	¥1.9B	¥1.9B	¥1.4B	¥1.0B
EPS	¥-11.74	¥-1.99	¥16.99	¥23.57	¥150.14
Shares Outstanding	—	12.4M	6.2M	3.1M	1.4M
Shares Issued (total)	—	12.4M	6.2M	3.1M	1.4M
Treasury Shares	—	0.0M	0.0M	—	—

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥11.4B	¥13.0B	¥9.4B	¥7.3B	¥5.7B
Current Assets	¥2.2B	¥4.2B	¥1.8B	¥1.4B	¥1.3B
Cash & Deposits	¥882M	¥3.2B	¥938M	¥680M	¥750M
Trade Receivables	—	¥618M	¥556M	¥425M	¥340M
Inventories	—	¥144M	¥51M	¥24M	¥16M
Non-Current Assets	¥9.2B	¥8.8B	¥7.6B	¥5.8B	¥4.4B
PP&E	¥7.6B	¥8.5B	¥7.4B	¥5.7B	¥4.2B
Intangible Assets	—	¥44M	¥60M	¥71M	¥35M
Deferred Tax Assets	—	—	—	—	¥45M
Total Liabilities	¥8.5B	¥10.0B	¥6.4B	¥4.5B	¥3.3B
Current Liabilities	¥3.8B	¥4.6B	¥2.7B	¥2.1B	¥1.8B
ST Debt	¥3.1B	¥4.3B	¥2.3B	¥1.9B	¥1.4B
Taxes Payable	—	¥51M	¥125M	—	¥137M
Non-Current Liabilities	¥4.7B	¥5.3B	¥3.6B	¥2.4B	¥1.5B
Total LT Borrowings	¥4.6B	¥5.3B	¥3.6B	¥2.3B	¥1.5B
Total Equity	¥3.0B	¥3.0B	¥3.0B	¥2.8B	¥2.4B
Capital Stock	—	¥247M	¥247M	¥222M	¥88M
Capital Surplus	—	¥466M	¥466M	¥441M	¥307M
Retained Earnings	¥2.1B	¥2.3B	¥2.3B	¥2.1B	¥2.0B
Treasury Stock	—	¥-0M	¥-0M	¥-0M	—
AOCI	—	¥-10M	¥-11M	¥-13M	—
Equity (owners)	¥2.8B	¥3.0B	¥3.0B	¥2.8B	¥2.4B

Total Interest-Bearing Debt ⓘ	¥7.7B	¥9.6B	¥5.8B	¥4.2B	¥2.9B
Net Cash ⓘ	¥-6.8B	¥-6.4B	¥-4.9B	¥-3.5B	¥-2.1B
NCAV ⓘ	¥-6.2B	¥-5.8B	¥-4.6B	¥-3.1B	¥-2.0B
NCAV/Share	—	¥-466	¥-734	¥-989	¥-1,456
BV/Share	—	¥240	¥489	¥909	¥1,761

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥1.8B	¥1.5B	¥1.7B	¥918M	¥881M
Interest Paid	—	¥-40M	¥-17M	¥-12M	¥-9M
Interest Received	—	¥0M	¥0M	¥0M	—
D&A	¥2.0B	¥1.8B	¥1.5B	¥1.2B	¥879M
Investing CF	¥-2.0B	¥-3.0B	¥-3.1B	¥-2.6B	¥-824M
CapEx	¥495M	¥3.0B	¥3.1B	¥2.6B	¥1.2B
Financing CF	¥-2.1B	¥3.7B	¥1.6B	¥1.6B	¥206M
Dividends Paid	—	¥-25M	¥-25M	¥-11M	—
Share Buybacks	—	—	—	¥-0M	—
LT Debt Repaid	—	¥-1.8B	¥-1.4B	¥-1.1B	¥-856M
Free Cash Flow	¥1.3B	¥-1.5B	¥-1.4B	¥-1.6B	¥-334M
Net Change in Cash	—	¥2.2B	¥258M	¥-71M	¥262M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	-4.9%	-0.8%	7.2%	5.2%	8.9%
ROA	-1.2%	-0.2%	2.5%	2.2%	3.6%
EPS	¥-11.74	¥-1.99	¥16.99	¥23.57	¥150.14
DPS	¥1.00	¥2.00	¥4.00	¥11.00	—
BPS	¥239.16	¥239.52	¥243.40	¥452.24	¥1,761.35
FCF/Share	—	¥-121	¥-221	¥-532	¥-245
NCAV/Share	—	¥-466	¥-734	¥-989	¥-1,456
Payout Ratio	—	—	23.5%	46.7%	—

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 7

Date	Activist	Stake	Event	Flag	Demands
2024-01-16	KEIJI UEDA	73.23% -1.14%	change	Passive	—
2023-12-27	KEIJI UEDA	74.37% -7.57%	change	Passive	—
2023-12-15	KEIJI UEDA	81.94%	change	Passive	—
2023-11-13	KEIJI UEDA	81.94%	change	Passive	—
2023-11-08	KEIJI UEDA	81.94%	change	Passive	—
2023-05-25	KEIJI UEDA	81.94%	change	Passive	—
2023-05-25	KEIJI UEDA	81.94%	correction	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-27 11:00	Div Increase	¥12M ¥1.0/sh +0%	G-ASNOVA's board resolved on 2026-05-26 to pay a year-end dividend of ¥1.00 per share (¥12 million total) with record da…
Summary G-ASNOVA's board resolved on 2026-05-26 to pay a year-end dividend of ¥1.00 per share (¥12 million total) with record date 2026-03-31, effective 2026-06-26. The FY2026 full-year dividend totals ¥2.00 per share (¥1.00 interim + ¥1.00 year-end), maintaining parity with the prior year, reflecting the company's policy of balancing shareholder returns with internal reserves for business expansion and financial strengthening. Deadline: 2026-06-26 YoY: +0% Source (JP) 当社は、2026年５月26日開催の取締役会において、以下のとおり、2026年３月31日（火）を基準日とする剰余金の配当を行うことについて決議しました...１株当たり配当金１円00銭、配当金総額 12百万円剰余金の配当に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	一般社団法人ニチレン	5,132,400	41.26%
2	上田桂司	3,975,800	31.97%
3	上田八木短資株式会社	159,000	1.28%
4	グローバル・タイガー・ファンド４号投資事業有限責任組合	144,000	1.16%
5	楽天証券株式会社	109,900	0.88%
6	中村真一郎	105,000	0.84%
7	ＡＳＮＯＶＡ従業員持株会	94,400	0.76%
8	三菱ＵＦＪｅスマート証券株式会社	72,500	0.58%
9	張賀楠	70,400	0.57%
10	株式会社ＳＢＩ証券	67,900	0.55%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

0.0%

+0.0% 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

79.8%

-1.1% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
一般社団法人ニチレン		46.46%	41.26%	41.26%
上田桂司		38.25%	31.96%	31.97% +0.01%
上田八木短資 NEW ENTRY	—	—	—	1.28% NEW
グローバル・タイガー・ファンド４号投資事業有限責任組合		1.17%	1.15%	1.16% +0.01%
楽天証券 NEW ENTRY	—	—	—	0.88% NEW
中村真一郎 ↑		—	0.41%	0.84% +0.43%
ＡＳＮＯＶＡ従業員持株会 NEW ENTRY	—	—	—	0.76% NEW
三菱ＵＦＪｅスマート証券 NEW ENTRY	—	—	—	0.58% NEW
張賀楠		0.39%	0.48%	0.57% +0.09%
式会社ＳＢＩ証券 NEW ENTRY	—	—	—	0.55% NEW
宮脇邦人 last seen 2024	Exited Top 10	3.56%	3.53%	—
ASNOVA従業員持株会 last seen 2024	Exited Top 10	1.06%	0.79%	—
auカブコム証券 last seen 2024	Exited Top 10	0.58%	0.57%	—
山口卓男 last seen 2024	Exited Top 10	—	0.41%	—
井藤智哉 last seen 2024	Exited Top 10	0.27%	0.35%	—
平林拓郎 last seen 2023	Exited Top 10	0.27%	—	—
村上哲規 last seen 2023	Exited Top 10	0.28%	—	—
Concentration (HHI) ⓘ		3637	2739	2730

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved