9632
Subaru Enterprise Co., Ltd.
スバル興業株式会社
Services
Subaru Enterprise Co., Ltd. engages in the maintenance and cleaning of roads and road ancillary facilities in Japan. The company is also involved in the construction, repair, and maintenance of roads; operation of expressways and highway shops; and operation and management of marinas, cafes, and restaurants. In addition, it engages in the solar power generation business; property insurance business; roadside facilities; contracting repair works; consignment of store operations for toll roads, etc.; installation and sales of vending machines; sale of foodstuffs and drinking water, as well as sales of alcoholic beverages and disaster prevention goods; and real estate leasing activities. The company was founded in 1946 and is headquartered in Tokyo, Japan. Subaru Enterprise Co., Ltd. is a subsidiary of Toho Co., Ltd.
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Overview
Filings & Signals
Ownership
Financials
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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
¥29.6B
¥30.3B
¥29.2B
¥28.9B
¥29.0B
Cost of Sales
¥22.6B
¥23.3B
¥22.2B
¥21.9B
—
Gross Profit
¥7.1B
¥7.0B
¥7.0B
¥7.0B
¥6.0B
SG&A
¥2.2B
¥2.2B
¥2.1B
¥2.0B
—
Operating Income
¥4.9B
¥4.8B
¥4.9B
¥5.1B
¥4.2B
Non-Operating Income
¥99M
¥67M
¥48M
¥115M
¥247M
Dividend Income
¥9M
¥5M
¥4M
¥7M
¥6M
Interest Income
¥26M
¥2M
¥0M
¥0M
¥1M
Non-Operating Expenses
¥4M
¥4M
¥1M
¥0M
¥2M
Ordinary Income
¥5.0B
¥4.9B
¥4.9B
¥5.2B
¥4.5B
Pre-tax Income
¥3.8B
¥4.9B
¥5.0B
¥5.2B
¥4.4B
Income Taxes
¥1.4B
¥1.7B
¥1.7B
¥1.7B
¥1.4B
Current Tax
¥1.6B
¥1.6B
¥1.6B
¥1.7B
¥1.4B
Deferred Tax
¥-247M
¥30M
¥19M
¥8M
¥-24M
Net Income (owners)
¥2.4B
¥3.2B
¥3.3B
¥3.5B
¥3.0B
Minority Interest
¥3M
¥4M
¥4M
¥8M
¥4M
Comprehensive Income
¥2.4B
¥3.2B
¥3.3B
¥3.5B
¥3.0B
EBITDA
¥5.6B
¥5.5B
¥5.6B
¥5.7B
¥4.9B
Goodwill Amort. (J-GAAP)
¥89M
¥105M
¥74M
¥74M
¥74M
EPS
¥187.89
¥251.23
¥254.95
¥1,366.69
¥1,166.64
Shares Outstanding
12.9M
12.9M
2.6M
2.6M
2.6M
Shares Issued (total)
13.3M
13.3M
2.7M
2.7M
2.7M
Treasury Shares
0.4M
0.4M
0.1M
0.1M
0.1M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥43.8B
¥40.8B
¥38.7B
¥36.2B
¥34.1B
Current Assets
¥22.6B
¥20.5B
¥20.1B
¥21.8B
¥20.1B
Cash & Deposits
¥13.5B
¥12.1B
¥12.4B
¥13.6B
¥12.3B
Trade Receivables
¥8.1B
¥7.6B
¥7.0B
¥7.4B
—
Inventories
¥165M
¥90M
¥77M
¥66M
¥60M
Non-Current Assets
¥21.2B
¥20.3B
¥18.6B
¥14.4B
¥14.0B
PP&E
¥18.4B
¥17.8B
¥16.1B
¥12.3B
¥11.6B
Goodwill
¥188M
¥277M
¥395M
¥332M
¥406M
Intangible Assets
¥339M
¥449M
¥540M
¥369M
¥455M
Investment Securities
¥262M
¥262M
¥262M
¥272M
¥272M
Deferred Tax Assets
¥482M
¥236M
¥264M
¥282M
¥289M
Total Liabilities
¥6.8B
¥5.2B
¥5.1B
¥5.0B
¥5.4B
Current Liabilities
¥4.2B
¥3.8B
¥4.0B
¥4.1B
¥4.5B
Accounts Payable
¥1.9B
¥1.8B
¥1.8B
¥1.8B
¥1.9B
ST Debt
—
—
¥113M
—
—
Taxes Payable
¥866M
¥873M
¥793M
¥1.0B
¥780M
Non-Current Liabilities
¥2.6B
¥1.4B
¥1.2B
¥940M
¥936M
Pension Obligations
¥356M
¥370M
¥360M
¥310M
¥279M
Deferred Tax Liab.
¥14M
¥15M
¥6M
¥2M
¥1M
Total Equity
¥37.0B
¥35.6B
¥33.6B
¥31.2B
¥28.7B
Capital Stock
¥1.3B
¥1.3B
¥1.3B
¥1.3B
¥1.3B
Capital Surplus
¥1.4B
¥1.3B
¥1.3B
¥1.3B
¥1.3B
Retained Earnings
¥34.6B
¥33.2B
¥31.1B
¥28.8B
¥26.3B
Treasury Stock
¥-323M
¥-329M
¥-336M
¥-339M
¥-346M
AOCI
—
—
¥0M
¥0M
¥0M
Equity (owners)
¥36.9B
¥35.5B
¥33.5B
¥31.1B
¥28.6B
Minority Interests
¥109M
¥106M
¥103M
¥99M
¥92M
Total Interest-Bearing Debt ⓘ
—
—
¥113M
—
—
Net Cash ⓘ
¥13.5B
¥12.1B
¥12.2B
¥13.6B
¥12.3B
NCAV ⓘ
¥15.9B
¥15.3B
¥14.9B
¥16.8B
¥14.7B
NCAV/Share
¥1,229
¥1,189
¥5,797
¥6,521
¥5,713
BV/Share
¥2,862
¥2,754
¥12,984
¥12,093
¥11,120
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥3.8B
¥3.5B
¥4.2B
¥3.6B
¥3.5B
Interest Paid
—
¥-0M
—
—
—
Interest Received
¥32M
¥8M
¥5M
¥8M
¥7M
D&A
¥608M
¥619M
¥577M
¥564M
¥589M
Goodwill Amort.
¥89M
¥105M
¥74M
¥74M
¥74M
Investing CF
¥-1.4B
¥-2.3B
¥-4.4B
¥-1.3B
¥-698M
CapEx
¥1.3B
¥2.3B
¥4.1B
¥1.3B
¥744M
Proceeds from Invest.
—
—
—
—
¥27M
Financing CF
¥-1.0B
¥-1.3B
¥-1.0B
¥-1.0B
¥-892M
Dividends Paid
¥-1.0B
¥-1.2B
¥-976M
¥-1.0B
¥-871M
Share Buybacks
¥-2M
¥-1M
¥-10M
¥-5M
¥-4M
LT Debt Repaid
—
¥-113M
—
—
—
Free Cash Flow
¥2.5B
¥1.2B
¥17M
¥2.3B
¥2.8B
Net Change in Cash
¥1.4B
¥-172M
¥-1.3B
¥1.3B
¥1.9B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
6.7%
9.4%
10.2%
11.8%
10.9%
ROA
5.7%
8.1%
8.8%
10.0%
8.8%
EPS
¥187.89
¥251.23
¥254.95
¥1,366.69
¥1,166.64
DPS
¥80.00
¥80.00
¥400.00
¥380.00
¥360.00
BPS
¥2,862.41
¥2,754.23
¥2,596.89
¥12,093.30
¥11,120.19
FCF/Share
¥193
¥92
¥6
¥905
¥1,083
NCAV/Share
¥1,229
¥1,189
¥5,797
¥6,521
¥5,713
Payout Ratio
42.6%
31.8%
156.9%
27.8%
30.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2026-02-20
Simplex Asset Management Co., Ltd.
5.37%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
東宝株式会社
6,806
52.74%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
627
4.85%
3
SIMPLEX OYAKO FUND
515
3.99%
4
Northern Trust Company
NORTHERN TRUST CO.(AVFC) RE IEDP AIF CLIENTS NON TREATY ACCOUNT (常任代理人 香港上海銀行東京支店)
420
3.25%
5
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
202
1.56%
6
Northern Trust Company
NORTHERN TRUST CO.(AVFC) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT (常任代理人 香港上海銀行東京支店)
200
1.54%
7
野村證券株式会社
141
1.09%
8
ROYAL BANK OF CANADA (CHANNEL ISLANDS) LIMITED - REGISTERED CUSTODY (常任代理人 シティバンク、エヌ・エイ東京支店)
140
1.08%
9
東宝ファシリティーズ株式会社
84
0.65%
10
大樹生命保険株式会社 (常任代理人 株式会社日本カストディ銀行)
75
0.58%
Domestic Nominees
6.4%
-1.2% vs 2025
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
4.8%
+0.8% vs 2025
Sub-custodians for foreign asset managers
Direct / Strategic
60.1%
+0.5% vs 2025
Named entities with disclosed investment intent
Shareholder
Trend
2024
2025
2026
東宝
52.82%
52.78%
52.74%
-0.04%
日本マスタートラスト信託銀行
4.13%
6.25%
4.85%
-1.40%
Northern Trust
3.96%
3.95%
4.79%
+0.84%
SIMPLEX OYAKO FUND
NEW ENTRY
—
—
—
3.99%
NEW
日本カストディ銀行
1.55%
1.41%
1.56%
+0.15%
野村證券
NEW ENTRY
—
—
—
1.09%
NEW
ROYAL BANK OF CANADA (CHANNEL ISLANDS) LIMITED - REGISTERED CUSTODY
1.08%
1.08%
1.08%
東宝ファシリティーズ
0.65%
0.65%
0.65%
大樹生命保険
NEW ENTRY
—
—
—
0.58%
NEW
MSIP CLIENT SECURITIES
last seen 2025
Exited Top 10
—
3.17%
—
SINFONIETTA MASTER FUND DIRECTOR SHUNICHI SHIOZAWA
last seen 2025
Exited Top 10
1.16%
1.16%
—
DANSKE BANK A/S FINNISH CLIENTS
last seen 2025
Exited Top 10
0.67%
0.81%
—
OASIS INVESTMENTS II MASTER FUND LTD.
last seen 2024
Exited Top 10
1.16%
—
—
Concentration (HHI)
ⓘ
2830
2856
2849
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved