YAMAYA CORPORATION

株式会社やまや

Retail Trade

Yamaya Corporation primarily engages in the retail sale of alcoholic beverages and food products through stores and mail order in Japan. It also operates restaurants. The company was founded in 1952 and is headquartered in Sendai, Japan.

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Price

¥2,131

Market Cap

¥23.1B

Ent. Value

¥17.1B

Net Cash

¥6.1B

Shares Out.

10.8M

P / E

6.3×

EV / EBIT

3.1×

⚠ TSE Capital Mandate

P / Book

0.66×

P / NCAV

1.63×

Div. Yield

2.53%

Financials

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥160.2B	¥160.3B	¥152.8B	¥143.4B
Cost of Sales	¥113.3B	¥114.0B	¥111.4B	¥108.4B
Gross Profit	¥46.8B	¥46.4B	¥41.3B	¥35.0B
SG&A	¥41.4B	¥40.0B	¥38.5B	¥34.4B
Operating Income	¥5.4B	¥6.3B	¥2.8B	¥643M
Non-Operating Income	¥264M	¥226M	¥315M	¥8.3B
Dividend Income	¥26M	¥20M	¥18M	¥15M
Interest Income	¥9M	¥5M	¥7M	¥9M
Non-Operating Expenses	¥123M	¥144M	¥199M	¥164M
Interest Expense	¥78M	¥73M	¥108M	¥100M
Ordinary Income	¥5.6B	¥6.4B	¥3.0B	¥8.8B
Pre-tax Income	¥5.3B	¥5.3B	¥2.4B	¥6.8B
Income Taxes	¥744M	¥1.2B	¥1.2B	¥1.4B
Current Tax	¥1.2B	¥1.5B	¥1.4B	¥1.6B
Deferred Tax	¥-490M	¥-332M	¥-127M	¥-205M
Net Income (owners)	¥3.6B	¥3.6B	¥1.9B	¥4.4B
Minority Interest	¥873M	¥525M	¥-764M	¥1.0B
Comprehensive Income	¥4.5B	¥4.5B	¥1.2B	¥5.2B
EBITDA	¥6.7B	¥7.6B	¥4.1B	¥2.0B
Goodwill Amort. (J-GAAP)	¥150M	¥172M	¥182M	¥183M
EPS	¥336.16	¥333.64	¥178.03	¥405.96
Shares Outstanding	10.8M	10.8M	10.8M	10.8M
Shares Issued (total)	10.8M	10.8M	10.8M	10.8M
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	¥66.9B	¥62.4B	¥59.3B	¥61.0B
Current Assets	¥43.8B	¥40.0B	¥36.5B	¥37.5B
Cash & Deposits	¥12.6B	¥13.5B	¥11.7B	¥13.8B
Trade Receivables	¥6.5B	¥5.7B	¥5.1B	¥4.4B
Non-Current Assets	¥23.2B	¥22.5B	¥22.8B	¥23.4B
PP&E	¥11.1B	¥10.6B	¥10.7B	¥10.9B
Goodwill	¥1.3B	¥1.5B	¥2.0B	¥2.2B
Intangible Assets	¥1.4B	¥1.5B	¥2.0B	¥2.3B
Investment Securities	¥910M	¥930M	¥807M	¥792M
Deferred Tax Assets	¥1.6B	¥1.1B	¥941M	¥819M
Total Liabilities	¥29.6B	¥28.9B	¥29.7B	¥31.9B
Current Liabilities	¥22.5B	¥22.3B	¥23.0B	¥24.8B
ST Debt	¥3.6B	¥5.3B	¥7.2B	¥10.1B
Taxes Payable	¥745M	¥983M	¥999M	¥720M
Non-Current Liabilities	¥7.1B	¥6.6B	¥6.7B	¥7.1B
Total LT Borrowings	¥3.0B	¥2.5B	¥2.8B	¥3.1B
Pension Obligations	¥339M	¥323M	¥314M	¥295M
Deferred Tax Liab.	—	¥0M	¥22M	¥22M
Total Equity	¥37.3B	¥33.5B	¥29.6B	¥29.1B
Capital Stock	¥3.2B	¥3.2B	¥3.2B	¥3.2B
Capital Surplus	¥5.8B	¥5.8B	¥5.8B	¥5.8B
Retained Earnings	¥25.7B	¥22.6B	¥19.6B	¥18.2B
Treasury Stock	¥-9M	¥-9M	¥-8M	¥-8M
AOCI	¥532M	¥531M	¥225M	¥200M
Equity (owners)	¥34.7B	¥31.7B	¥28.6B	¥27.3B
Minority Interests	¥2.1B	¥1.3B	¥743M	¥1.6B

Total Interest-Bearing Debt ⓘ	¥6.5B	¥7.8B	¥9.9B	¥13.2B
Net Cash ⓘ	¥6.1B	¥5.7B	¥1.8B	¥586M
NCAV ⓘ	¥14.1B	¥11.1B	¥6.8B	¥5.6B
NCAV/Share	¥1,305	¥1,022	¥627	¥521
BV/Share	¥3,203	¥2,922	¥2,640	¥2,514

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥2.8B	¥5.4B	¥3.1B	¥4.4B
Interest Paid	¥-76M	¥-72M	¥-102M	¥-105M
Interest Received	¥33M	¥22M	¥21M	¥20M
D&A	¥1.1B	¥1.1B	¥1.1B	¥1.2B
Goodwill Amort.	¥150M	¥172M	¥182M	¥183M
Investing CF	¥-1.8B	¥-904M	¥-1.1B	¥-494M
CapEx	¥1.8B	¥931M	¥1.2B	¥1.1B
Financing CF	¥-2.0B	¥-2.7B	¥-4.0B	¥1.2B
Dividends Paid	¥-596M	¥-563M	¥-563M	¥-542M
Share Buybacks	¥0M	¥0M	¥0M	¥0M
LT Debt Repaid	¥-357M	¥-150M	¥-264M	¥-124M
Free Cash Flow	¥1.0B	¥4.5B	¥1.9B	¥3.4B
Net Change in Cash	¥-950M	¥1.8B	¥-2.0B	¥5.1B

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	10.8%	11.8%	6.9%	17.2%
ROA	5.6%	5.9%	3.2%	7.2%
EPS	¥336.16	¥333.64	¥178.03	¥405.96
DPS	¥54.00	¥54.00	¥52.00	¥50.00
BPS	¥3,252.02	¥2,970.80	¥2,660.96	¥2,532.62
FCF/Share	¥96	¥416	¥172	¥312
NCAV/Share	¥1,305	¥1,022	¥627	¥521
Payout Ratio	16.1%	16.2%	29.2%	12.3%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 2

Date	Activist	Stake	Event	Flag	Demands	Source
2024-12-03	YAMAUCHI HIDEHARU	—	exit	Passive	—
2024-12-03	YAMAUCHI ENTERPRISE	20.0%	initial_5pct	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-15 15:30	Div Increase	¥411M ¥38.0/sh +41%	Yamaya Co., Ltd. announced a final dividend of ¥38 per share for fiscal year ending March 31, 2026, consisting of ¥35 or…
Summary Yamaya Co., Ltd. announced a final dividend of ¥38 per share for fiscal year ending March 31, 2026, consisting of ¥35 ordinary dividend and ¥3 special anniversary dividend (55th anniversary). Total dividend amount is ¥411 million, with an effective date of June 9, 2026. Year-over-year dividend per share increased 40.7% from ¥27 in the prior period, and annual FY2026 dividend reached ¥75 per share (¥70 ordinary + ¥5 anniversary). YoY: +41% Source (JP) 2026年３月31日を基準日とする剰余金の配当（期末配当）について決議いたしました。1株あたり普通配当３５円に、会社設立55周年記念配当３円を加えた３８円といたしました。剰余金の配当（期末配当）に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	山内コンサルタント株式会社	2,476	22.83%
2	山内エンタープライズ株式会社	2,169	20.01%
3	イオン株式会社	2,072	19.11%
4	山内浩晶	325	2.99%
5	株式会社七十七銀行（常任代理人株式会社日本カストディ銀行）	220	2.02%
6	山内英房	197	1.82%
7	山内一枝	85	0.79%
8	株式会社三井住友銀行	71	0.66%
9	BNY Mellon (Nominee) BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENTACCTS M ILM FE (常任代理人株式会社三菱UFJ銀行)	62	0.57%
10	やまや従業員持株会	48	0.44%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

0.0%

-1.5% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.6%

+0.6% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

70.7%

-0.4% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
山内コンサルタント		22.83%	22.83%	22.83%
山内エンタープライズ NEW ENTRY	—	—	—	20.01% NEW
イオン		19.11%	19.11%	19.11%
山内浩晶		2.99%	2.99%	2.99%
式会社七十七銀行		2.02%	2.02%	2.02%
山内英房		1.81%	1.82%	1.82%
山内一枝		0.78%	0.79%	0.79%
三井住友銀行		—	0.66%	0.66%
BNY Mellon NEW ENTRY	—	—	—	0.57% NEW
やまや従業員持株会 NEW ENTRY	—	—	—	0.44% NEW
山内英靖 last seen 2024	Exited Top 10	20.01%	20.01%	—
日本マスタートラスト信託銀行 last seen 2024	Exited Top 10	2.72%	1.46%	—
ＳＭＢＣ日興証券 last seen 2024	Exited Top 10	1.18%	0.83%	—
日本カストディ銀行 last seen 2023	Exited Top 10	0.74%	—	—
Concentration (HHI) ⓘ		1313	1307	1305

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

Portfolio Book Value ¥558M +88% since 2023

Holdings 3

Trend Stable vs 2023

Held Company	FY2025 ¥558M total		FY2023 ¥297M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
The 77Bank,Ltd. 株式会社七十七銀行	427	90,000	194	90,000	M
ARCS COMPANY,LIMITED 株式会社アークス	127	43,950	98	43,950
株式会社じもとホールディングス	4	13,910	5	13,910	M
Portfolio total	558		297

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding