9767
Nikken Kogaku Co., Ltd.
日建工学株式会社
Services
Nikken Kogaku Co., Ltd. manufactures and sells wave-absorbing and foot-stabilizing products in Japan. The company offers wave dissipating, coastal revetment blocks, and other civil engineering products. It also provides coastal protection blocks, and riverbank disaster-prevention and environment protection blocks. In addition, the company offers natural stones and geosynthetics products. It serves land, infrastructure, transport, tourism, as well as government, and construction consultants and companies. Nikken Kogaku Co., Ltd. was incorporated in 1950 and is headquartered in Tokyo, Japan.
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⚠ 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 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥5.5B
¥6.2B
¥6.2B
¥8.3B
Cost of Sales
¥3.8B
¥4.5B
¥4.6B
¥6.2B
Gross Profit
¥1.7B
¥1.7B
¥1.7B
¥2.2B
SG&A
¥1.4B
¥1.4B
¥1.3B
¥1.4B
Operating Income
¥343M
¥293M
¥350M
¥803M
Non-Operating Income
¥251M
¥300M
¥77M
¥73M
Dividend Income
¥29M
¥28M
¥27M
¥25M
Interest Income
¥2M
¥2M
¥0M
¥0M
Non-Operating Expenses
¥183M
¥194M
¥15M
¥9M
Interest Expense
¥4M
¥5M
¥7M
¥8M
Ordinary Income
¥412M
¥399M
¥412M
¥866M
Pre-tax Income
¥412M
¥399M
¥398M
¥867M
Income Taxes
¥122M
¥114M
¥117M
¥204M
Current Tax
¥125M
¥116M
¥116M
¥207M
Deferred Tax
¥-3M
¥-3M
¥1M
¥-3M
Net Income (owners)
¥284M
¥285M
¥281M
¥662M
Minority Interest
¥6M
¥0M
—
—
Comprehensive Income
¥259M
¥376M
¥310M
¥643M
EBITDA
¥476M
¥482M
¥595M
¥1.1B
EPS
¥155.55
¥156.14
¥153.92
¥363.07
Shares Outstanding
1.9M
1.9M
1.8M
1.8M
Shares Issued (total)
1.9M
1.9M
1.9M
1.9M
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
¥6.5B
¥7.2B
¥6.9B
¥7.3B
Current Assets
¥4.7B
¥5.3B
¥5.2B
¥5.8B
Cash & Deposits
¥2.7B
¥2.9B
¥2.9B
¥2.7B
Trade Receivables
¥761M
¥759M
¥1.1B
¥1.4B
Non-Current Assets
¥1.8B
¥1.9B
¥1.7B
¥1.5B
PP&E
¥248M
¥270M
¥419M
¥463M
Intangible Assets
¥15M
¥18M
¥20M
¥17M
Investment Securities
¥980M
¥998M
¥781M
¥703M
Deferred Tax Assets
¥1M
—
—
—
Total Liabilities
¥1.9B
¥2.8B
¥2.9B
¥3.5B
Current Liabilities
¥1.6B
¥2.3B
¥2.1B
¥2.8B
Accounts Payable
¥966M
¥1.7B
¥1.4B
¥2.1B
ST Debt
¥126M
¥176M
¥176M
¥201M
Taxes Payable
¥80M
¥68M
¥25M
¥68M
Non-Current Liabilities
¥373M
¥541M
¥746M
¥693M
Total LT Borrowings
¥92M
¥218M
¥394M
¥320M
Pension Obligations
¥88M
¥122M
¥123M
¥114M
Deferred Tax Liab.
¥109M
¥98M
¥75M
¥72M
Total Equity
¥4.6B
¥4.4B
¥4.1B
¥3.8B
Capital Stock
¥1.0B
¥1.0B
¥1.0B
¥1.0B
Capital Surplus
¥542M
¥542M
¥542M
¥542M
Retained Earnings
¥2.9B
¥2.7B
¥2.4B
¥2.2B
Treasury Stock
¥-66M
¥-65M
¥-67M
¥-66M
AOCI
¥211M
¥242M
¥151M
¥122M
Equity (owners)
¥4.4B
¥4.2B
¥3.9B
¥3.7B
Minority Interests
¥7M
¥0M
—
—
Total Interest-Bearing Debt ⓘ
¥218M
¥394M
¥570M
¥522M
Net Cash ⓘ
¥2.5B
¥2.5B
¥2.3B
¥2.2B
NCAV ⓘ
¥2.8B
¥2.5B
¥2.4B
¥2.3B
NCAV/Share
¥1,503
¥1,357
¥1,307
¥1,252
BV/Share
¥2,354
¥2,231
¥2,153
¥2,029
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥95M
¥659M
¥633M
¥795M
Interest Paid
¥-4M
¥-5M
¥-7M
¥-8M
Interest Received
¥31M
¥29M
¥27M
¥25M
D&A
¥133M
¥189M
¥245M
¥249M
Investing CF
¥-25M
¥-323M
¥-401M
¥-333M
CapEx
¥59M
¥131M
¥210M
¥110M
Purchase Investments
—
¥-100M
¥-60M
¥-101M
Financing CF
¥-270M
¥-287M
¥-78M
¥-264M
Dividends Paid
¥-56M
¥-54M
¥-54M
¥-54M
Share Buybacks
¥-1M
¥-66M
¥-0M
¥-1M
LT Debt Repaid
¥-176M
¥-176M
¥-176M
¥-197M
Free Cash Flow
¥36M
¥527M
¥423M
¥685M
Net Change in Cash
¥-199M
¥59M
¥155M
¥199M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
6.3%
6.7%
7.1%
18.8%
ROA
4.1%
4.0%
3.9%
9.1%
EPS
¥155.55
¥156.14
¥153.92
¥363.07
DPS
¥30.00
¥30.00
¥30.00
¥30.00
BPS
¥2,520.69
¥2,412.25
¥2,235.73
¥2,095.84
FCF/Share
¥19
¥283
¥232
¥376
NCAV/Share
¥1,503
¥1,357
¥1,307
¥1,252
Payout Ratio
19.3%
19.2%
19.5%
8.3%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 16
Date Activist Stake Event Flag Demands Source
2026-02-17
FREESIA MACROSS CORPORATION
19.54%
change
Passive
—
2025-09-29
Hikari Tsushin K.K.
6.11%
+0.02%
change
Passive
—
2025-08-01
Hikari Tsushin K.K.
6.09%
+1.0%
change
Passive
—
2025-05-14
Hikari Tsushin K.K.
5.09%
initial_5pct
Passive
—
2025-01-17
FREESIA MACROSS CORPORATION
19.54%
change
Passive
—
2024-08-28
KIKUCHI ERIKA
6.06%
change
Passive
—
2024-08-28
KIKUCHI ERIKA
6.06%
correction
Passive
—
2024-04-19
JME
6.92%
correction
Passive
—
2024-04-19
JME
6.92%
correction
Passive
—
2024-04-19
JME
6.92%
correction
Passive
—
2024-04-19
JME
4.77%
-2.15%
correction
Passive
—
2024-04-19
JME
6.92%
correction
Passive
—
2024-04-19
JME
4.77%
-2.15%
correction
Passive
—
2024-04-17
j m e
7.06%
change
Passive
—
2024-04-17
JME
6.9%
initial_5pct
Passive
—
2023-11-14
NAGAWA Co.,Ltd.
5.04%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
Shareholder
Shares (thou.)
% of Total
1
FREESIA MACROSS CORPORATION
フリージア・マクロス株式会社
2,315
12.44%
2
Giken Holdings Co., Ltd.
技研ホールディングス株式会社
1,323
7.11%
3
菊池 恵理香
1,128
6.06%
4
NAGAWA Co .,Ltd.
株式会社ナガワ
1,101
5.92%
5
Japan Securities Finance Co.,Ltd.
日本証券金融株式会社
676
3.63%
6
JDC CORPORATION
日本国土開発株式会社
616
3.31%
7
光通信株式会社
611
3.28%
8
Nippon Life Insurance
日本生命保険相互会社 (常任代理人 日本マスタートラスト信託銀行株式会社)
576
3.10%
9
今井 正利
557
2.99%
10
MUFG Bank
株式会社三菱UFJ銀行
449
2.41%
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
50.2%
-0.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
FREESIA MACROSS CORPORATION
フリージア・マクロス
12.70%
12.43%
12.44%
+0.01%
Giken Holdings Co., Ltd.
技研ホールディングス
7.26%
7.11%
7.11%
菊池 恵理香
6.19%
6.06%
6.06%
NAGAWA Co .,Ltd.
式会社ナガワ
2.91%
5.91%
5.92%
+0.01%
Japan Securities Finance Co.,Ltd.
日本証券金融
—
4.94%
3.63%
-1.31%
JDC CORPORATION
日本国土開発
3.38%
3.31%
3.31%
光通信
NEW ENTRY
—
—
—
3.28%
NEW
Nippon Life Insurance
日本生命保険
3.16%
3.10%
3.10%
今井 正利
3.06%
2.99%
2.99%
MUFG Bank
式会社三菱UFJ銀行
2.46%
2.41%
2.41%
Interactive Brokers
last seen 2024
Exited Top 10
2.79%
2.65%
—
式会社ジェイ・エム・イー
last seen 2023
Exited Top 10
4.87%
—
—
Concentration (HHI)
ⓘ
329
343
336
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥778M
+20% since 2023
Holdings
7
Trend
2 building
vs 2023
Held Company
FY2025
¥778M total
FY2023
¥650M total
Book Val ¥M
Shares
Book Val ¥M
Shares
JDC CORPORATION
日本国土開発株式会社
290
571,000
345
571,000
M
NAGAWA Co .,Ltd.
株式会社ナガワ
164
+117.5%
↑
27,400
86
12,600
M
三井住友トラスト・ホールディングス株式会社
158
+100.0%
↑
42,600
97
21,300
M
Nichia Steel Industry Co., Ltd.
日亜鋼業株式会社
68
218,000
64
218,000
M
Mitsubishi UFJ Financial Group, Inc.
株式会社三菱UFJフィナンシャル・グループ
57
28,500
24
28,500
M
TORQ Inc.
トルク株式会社
25
100,000
22
100,000
M
Tokai Tokyo Financial Holdings, Inc.
東海東京フィナンシャル・ホールディングス株式会社
15
31,100
11
31,100
M
Portfolio total
778
650
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding