Overview
Mining

K&O Energy Group Inc.

K&O Energy Group is a vertically integrated natural gas and iodine company based in Chiba Prefecture, Japan, operating through two core segments. Its gas business spans the full value chain from natural gas exploration and extraction (via Kanto Natural Gas Development Co.) to city gas, LPG, and compressed natural gas supply and sales to end customers (via Otaki Gas Co.). Its iodine business leverages brine water co-produced from natural gas extraction to manufacture and sell iodine and iodine compounds through K&O Iodine Co., serving industrial and specialty chemical markets.

Market Cap
¥99.2B
US$632M
EV
¥37.8B
US$240M
Stock¥1,857▲+0.00%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
2.2
x
LTM EV/EBIT
3.2
x
LTM PER
13.5
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-13.4%pt
100
Oct 23, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
99.2BUS$632MMarket Cap0.88BUS$5.58M+ Debt18.4BUS$117M− Cash47.6BUS$303M− Inv. Sec.3.67BUS$23.3M+ NCI37.8BUS$240MEV
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Performance & Balance
Revenue 5Y (¥B)
66.1US$421M'21/12106US$676M'22/1296.3US$613M'23/1292.4US$588M'24/1291.4US$582M'25/12
EBITDA 5Y (¥B)
9.25US$58.9M'21/1212.7US$81.0M'22/1215.2US$97.0M'23/1214.6US$93.1M'24/1216.9US$108M'25/12
Net Income 5Y (¥B)
2.85US$18.1M'21/124.77US$30.3M'22/126.46US$41.2M'23/126.17US$39.3M'24/128.38US$53.4M'25/12
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
31.7US$202M1.00US$6.37M'21/1233.9US$216M0.95US$6.07M'22/1236.1US$230M0.93US$5.90M'23/1244.3US$282M0.91US$5.81M'24/1250.6US$322M0.88US$5.58M'25/12
Shareholders
Top 10 hold 65.9%
1
Godo Shigen Co., Ltd.
18.30%
2
AIR WATER INC.
17.10%
3
KEIYO GAS CO.,LTD.
13.80%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
6.00%
5
The Chiba Bank,Ltd.
2.60%
6
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
2.30%
7
Sumitomo Mitsui Trust Bank, Limited (Standing Proxy: Custody Bank of Japan, Ltd.)
1.80%
8
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
1.50%
9
Custody Bank of Japan, Ltd. (Trust Account)
1.30%
10
The Chiba Kogyo Bank,Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
1.20%
Management
13 officers
Akio MIDORIKAWA
Representative Director, President and Executive Officer, in charge of Information Systems Department
Apr 1981 Joined Otaki Gas Co., Ltd. Mar 2010 Director, Head of Supply and Technology Division, General Manager of Supply Department, Otaki Gas Mar 2011 Director in charge of Technology, General Manager of Supply Department, Otaki Gas May 2013 Director in charge of Supply, General Manager of Technology Department, Otaki Gas Jan 2014 Executive Officer of the Company; Director in charge of Technology, Otaki Gas Mar 2015 Representative Director, Managing Director in charge of Supply and Technology, Otaki Gas Mar 2017 Director, Kanto Natural Gas Development Co., Ltd. Mar 2018 Managing Director and Managing Executive Officer of the Company; Representative Director, President, Otaki Gas Mar 2020 Representative Director, President and Executive Officer of the Company Mar 2025 Representative Director, President and Executive Officer, in charge of Information Systems and Otaki Gas management Jan 2026 Representative Director, President and Executive Officer, in charge of Information Systems of the Company; Director and Advisor, Otaki Gas Mar 2026 Representative Director, President and Executive Officer, in charge of Information Systems of the Company (current)
1958-08-23
Takeshi MORI
Representative Director, Executive Vice President and Executive Officer, in charge of Corporate Planning and Human Resources Departments
Apr 1983 Joined Otaki Gas Co., Ltd. Mar 2012 Director, General Manager of General Affairs Department and Head of Chiba Mining Office, Kanto Natural Gas Development Co., Ltd. Mar 2013 Director in charge of Sales, General Manager of General Affairs Department and Head of Chiba Mining Office, Kanto Natural Gas Development Jan 2014 Director and Executive Officer, General Manager of General Affairs Department of the Company; Director, General Manager of General Affairs Department, Kanto Natural Gas Development Mar 2018 Managing Director and Managing Executive Officer of the Company; Representative Director, President, Kanto Natural Gas Development Mar 2020 Representative Director, Executive Vice President and Executive Officer of the Company; Representative Director, President, K&O Iodine Co., Ltd. Mar 2022 Representative Director, Executive Vice President and Executive Officer, in charge of General Affairs, Accounting and Human Resources Departments of the Company Mar 2023 Representative Director, Executive Vice President and Executive Officer, in charge of General Affairs and Human Resources Departments of the Company Mar 2025 Representative Director, Executive Vice President and Executive Officer, in charge of Corporate Planning, General Affairs and Human Resources Departments of the Company; Representative Director, Chairman, Kanto Natural Gas Development Jan 2026 Representative Director, Executive Vice President and Executive Officer, in charge of Corporate Planning and Human Resources Departments of the Company (current)
1959-09-28
Nobuhiko YATSUSHIRO
Director and Executive Officer, General Manager of Accounting Department
Apr 1988 Joined Otaki Gas Co., Ltd. Jan 2014 General Manager of Accounting Department, Otaki Gas Mar 2020 Executive Officer, General Manager of Accounting Department of the Company Mar 2023 Director and Executive Officer, General Manager of Accounting Department of the Company (current)
1965-12-08
Hisanao JO
Director
Apr 1993 Joined Daido Hoxan Inc. Apr 2000 Joined Air Water Inc., Gas Chemistry Research Laboratory Jul 2016 Representative Director, President, Misawa Ika Kogyo Co., Ltd. Jun 2017 Representative Director, President, Saito Ika Kogyo Co., Ltd. Apr 2018 Director, Head of Production Division, Misawa Ika Kogyo Co., Ltd. Nov 2018 Managing Executive Officer, Japan Industrial and Medical Gases Association Mar 2023 Director and Executive Officer of the Company; Director, General Manager of Environment and Safety Department, Kanto Natural Gas Development (current) Jan 2026 Director of the Company (current); Director, K&O Iodine Co., Ltd. (current)
1967-08-09
Takashi KIKUCHI
Outside Director
Nov 1976 Audit & Supervisory Board Member, Nanyu Shosha Co., Ltd. Jan 1977 Audit & Supervisory Board Member, Takahagi Coal Mining Co., Ltd. Jan 1997 Vice President and Director, Takahagi Coal Mining Jun 1998 Audit & Supervisory Board Member, Powdertech Co., Ltd. Jun 1999 Director, Powdertech Jan 2003 Executive Vice President and Representative Director, Nanyu Shosha Mar 2003 Director, Keiyo Gas Co., Ltd. Jun 2014 Vice Chairman and Representative Director, Powdertech Jun 2016 Chairman and Representative Director, Powdertech (current) Aug 2016 Executive Vice President and Representative Director, Keiyo Gas Sep 2016 President and Representative Director, Nanyu Shosha (current) Oct 2016 Chairman and Representative Director, Keiyo Gas (current) Mar 2020 Outside Director of the Company (current) Jun 2020 Outside Director, Keisei Electric Railway Co., Ltd. (current) Jun 2022 Outside Director, Oriental Land Co., Ltd. (current)
1950-04-09
Tatsuro ISHIZUKA
Outside Director
Apr 1978 Joined Hitachi, Ltd. Oct 2007 Senior Vice President, Hitachi America, Ltd. Apr 2009 Executive Officer, Hitachi, Ltd.; General Manager, Hitachi Works, Power Systems Group Apr 2011 Senior Executive Officer, President, Power Systems Company, Hitachi, Ltd. Apr 2013 Senior Executive Officer, Group Executive, Power Systems Group, and President, Power Systems Company, Hitachi, Ltd. Apr 2014 Executive Vice President and Representative Executive Officer, Hitachi, Ltd.; Group Executive, Power Systems Group and Infrastructure Systems Group Apr 2015 Vice Chairman, Director, Hitachi Europe Ltd. and Chairman, Horizon Nuclear Power Ltd. Apr 2017 Representative Executive Officer, Chairman, Hitachi Construction Machinery Co., Ltd. Jun 2017 Representative Executive Officer, Chairman and Director, Hitachi Construction Machinery Apr 2019 Director, Hitachi Construction Machinery; Advisor, Hitachi, Ltd. Jun 2019 Chairman, Hitachi Foundation (public interest foundation) Mar 2020 Outside Director of the Company (current) Jun 2021 Outside Director, Tadano Ltd. (current) Mar 2022 Outside Audit & Supervisory Board Member, AGC Inc. (current)
1955-12-23
Sadayo KOBAYASHI
Outside Director
Apr 1989 Joined Shiseido Company, Limited Apr 2015 General Manager, Future Creation Bureau, Corporate Planning Department, Shiseido Feb 2017 Representative Director, President, KODOMOLOGY Inc. Mar 2023 Outside Director of the Company (current)
1966-05-17
Yoshiyuki MORIMOTO
Outside Director
Apr 1981 Joined Bridgestone Corporation Apr 2008 Executive Officer, in charge of Tire Basic Development, Bridgestone Apr 2011 Managing Executive Officer, in charge of Tire Development, Bridgestone Apr 2012 Director and Managing Executive Officer, in charge of Tire Development and Quality Management, Bridgestone Apr 2013 Director and Senior Managing Executive Officer, in charge of Technology (CTO), Bridgestone Apr 2015 Senior Managing Executive Officer, Chairman, BRIDGESTONE AMERICAS, INC., Bridgestone Apr 2016 Advisor, Bridgestone Apr 2019 Full-time Audit & Supervisory Board Member (outside), AGC Inc. Mar 2024 Outside Director of the Company (current)
1956-05-29
Yumiko MASUDA
Outside Director
May 1990 Joined Bell System 24, Inc. Sep 1996 Joined IBM Japan, Ltd. Jan 2003 Business Consulting Services Partner, IBM Japan Jul 2006 Strategic Industry Director, Field Services Division, SAP Japan Co., Ltd. Jun 2009 Representative Director, Shohisha no Koe Kenkyujo Co., Ltd. (current) Jun 2018 Outside Director, PC Depot Corporation Jun 2022 Outside Director, DTS Corporation (current) Mar 2023 Advisor (Assistant to Audit & Supervisory Board Members), Kanto Natural Gas Development; Advisor (Assistant to Audit & Supervisory Board Members), Otaki Gas Jun 2024 Outside Director, NITTAN Corporation (current) Mar 2025 Outside Director of the Company (current)
1955-10-20
Kazuhiko MARU
Standing Audit & Supervisory Board Member
Apr 1981 Joined Kanto Natural Gas Development Co., Ltd. Mar 2018 General Manager, Accounting Department, Otaki Gas Mar 2020 Standing Audit & Supervisory Board Member of the Company (current); Audit & Supervisory Board Member, Kanto Natural Gas Development (current) Mar 2021 Audit & Supervisory Board Member, K&O Iodine Co., Ltd. (current)
1963-03-24
Ken NAGASHIMA
Standing Audit & Supervisory Board Member
Apr 1984 Joined Otaki Gas Co., Ltd. Mar 2011 General Manager, General Affairs Department, Otaki Gas Mar 2015 General Manager, Human Resources Department of the Company Mar 2017 Director and Executive Officer, General Manager, Human Resources Department of the Company Mar 2018 Director and Executive Officer, in charge of Human Resources, General Manager, General Affairs Department of the Company Mar 2020 Executive Officer, General Manager, General Affairs Department of the Company Mar 2021 Executive Officer, General Manager, Internal Audit Office of the Company Mar 2023 Standing Audit & Supervisory Board Member of the Company (current); Audit & Supervisory Board Member, Otaki Gas (current)
1962-01-09
Haruki UCHIDA
Outside Audit & Supervisory Board Member
Nov 1983 Joined Toyo Kosan Co., Ltd. Apr 2003 General Manager, Administration Department, Toyo Kosan Dec 2019 General Manager, Accounting Department, Godo Shigen Co., Ltd. Dec 2021 Director and Executive Officer, General Manager of General Affairs and Accounting Departments, Godo Shigen Jan 2023 Senior Advisor, Godo Shigen Dec 2023 Resigned from Godo Shigen Dec 2024 Director, Deputy Head of Administration Division, Toyo Kosan Mar 2025 Director, Deputy Head of Administration Division and General Manager of Accounting Department, Toyo Kosan (current) Outside Audit & Supervisory Board Member of the Company (current)
1960-04-13
Hiromichi KOKAJI
Outside Audit & Supervisory Board Member
Apr 1998 Registered as attorney-at-law, joined First Tokyo Bar Association; joined Daiichi Fuyo Law Office Jan 2009 Partner Attorney, Daiichi Fuyo Law Office (current) Mar 2018 Outside Audit & Supervisory Board Member of the Company (current)
1972-12-18
Large Shareholding Reports
Air Water Inc.
2026-04-13
15.08%→16.15%
Air Water Inc.
2026-04-06
15.08%→15.08%
Symphony Financial Partners (Singapore) Pte. Ltd.
2025-06-20
6.57%→4.99%
Symphony Financial Partners (Singapore) Pte. Ltd.
2025-05-22
8.03%→6.57%
Symphony Financial Partners (Singapore) Pte. Ltd.
2025-05-09
9.30%→8.03%
Symphony Financial Partners (Singapore) Pte. Ltd.
2023-06-09
10.32%→9.30%
Symphony Financial Partners (Singapore) Pte. Ltd.
2022-01-05
8.96%→10.32%
Disclosures
Executive Change
2026-10-06
Primary Source Filings
TDnet
2026-10-06
Executive Change
EDINET
2026-08-13
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-12
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-13
Q1 Earnings Flash
FY ending Dec 2026
EDINETAmended
2026-04-13
Change Report
EDINET
2026-04-06
Large Shareholding Report
EDINET
2026-03-27
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-13
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-13
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-06-20
Large Shareholding Report
EDINET
2025-05-22
Large Shareholding Report
TDnet
2025-05-13
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-05-09
Large Shareholding Report
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-13
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-27
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-09
Large Shareholding Report
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-29
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-15
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2022-01-05
Large Shareholding Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
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