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Overview

Textiles and Apparels

Fujibo Holdings,Inc.

Fujibo Holdings operates across four core segments: abrasive materials (ultra-precision polishing pads and non-woven fabrics for semiconductor and electronics industries), chemical industrial products, lifestyle apparel (spun yarn, knitted fabrics, and finished garments including BVD brand), and other businesses including automotive parts, chemical products, and molds. The group manufactures and sells precision polishing materials through subsidiaries in Japan and Taiwan, and produces textile and apparel products through operations in Japan and Thailand. Key competitive strengths include its high-value specialty abrasives for semiconductor CMP processes and a vertically integrated textile-to-apparel supply chain.

Activists: Effissimo Capital Management Pte. Ltd. 20.76%

Market Cap

¥115B

US$731M

¥103B

US$653M

Stock¥3,405▲+0.15%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

8.4

LTM EV/EBIT

11.8

LTM PER

19.5

LTM PBR

2.2

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+29.9%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Nov 25, 25Related to Effissimo shareholding change

2Feb 26, 26Effissimo Capital Management Pte. Ltd. changed stake (16.76%→17.23%)

3Mar 30, 26Effissimo Capital Management Pte. Ltd. changed stake (17.23%→18.66%)

4Apr 6, 26Effissimo Capital Management Pte. Ltd. changed stake (18.66%→19.7%)

MC → EV Bridge

AI Briefing

Fujibo Holdings: niche leader in semiconductor CMP polishing materials, paired with legacy BVD-branded apparel and chemicals businesses. FY26/3 revenue ¥45.9B with OP margin expanding to 17.7%, continuing a multi-year recovery in profitability since FY24/3's dip. EV/EBITDA of ~8.1x on ¥13.4B forward EBITDA, net-cash balance sheet; trust banks and institutional holders dominate the register with no activist or control event in public data.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

99%

EquityD/E 0.01xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 52.3%

as of 2026-03-31 · Source: Annual Securities Report

The Master Trust Bank of Japan, Ltd. (Trust Account)

11.35%

Custody Bank of Japan, Ltd. (Trust Account)

10.47%

MLI FOR SEGREGATED PB CLIENT (Standing Proxy: BofA Securities Japan Co., Ltd.)

4.92%

Meiji Yasuda Life Insurance Company

4.75%

MUFG Bank, Ltd.

4.45%

GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)

4.22%

STATE STREET BANK AND TRUST COMPANY 505301 (Standing Proxy: Mizuho Bank, Ltd.)

3.58%

CGML PB CLIENT ACCOUNT/COLLATERAL (Standing Proxy: Citibank, N.A., Tokyo Branch)

2.99%

Mitsubishi UFJ Trust and Banking Corporation

2.87%

JPMSPLC CLIENT ASSETS SK JPY (Standing Proxy: Citibank, N.A., Tokyo Branch)

2.73%

Management

13 officers

Masahiro INOUE

Representative Director, President

Apr 1987 Joined the Company Aug 2015 General Manager, Functional Products Development Department Jan 2017 Representative Director, President, Fujibo Textile Co., Ltd. Sep 2017 Representative Director, President, Fujibo Trading Co., Ltd.; Representative Director, President, Angle Co., Ltd. May 2018 Representative Director, President, Yanai Chemical Industry Co., Ltd. Apr 2019 General Manager, Functional Products Development Department, Future Product Development Division Jun 2020 Director Jun 2022 Representative Director, President (current)

1964-04-16

Osamu HIRANO

Director (Representative Director), General Manager, Secretariat Office

Apr 1984 Joined the Company Nov 2010 General Manager, Human Resources Development Office Apr 2015 Deputy General Manager, General Affairs and Human Resources Department, in charge of General Affairs Jun 2015 General Manager, General Affairs Department Apr 2017 General Manager, General Affairs Department; Deputy General Manager, Human Resources Department Aug 2018 General Manager, Secretariat Office (current) Jun 2022 Director Jun 2023 Representative Director (current)

1960-12-09

Tatsuya SASAKI

Director (Representative Director)

Apr 1988 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) May 2015 General Manager, Public Relations Department, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (now MUFG Bank, Ltd.) Jun 2018 Managing Executive Officer, Mitsubishi UFJ Research and Consulting Co., Ltd.; General Manager, Sales Division, Consulting Business Division Jul 2022 Joined the Company Oct 2022 General Manager, Finance and Accounting Department Jun 2023 Director; General Manager, Finance and Accounting Department Jun 2025 Representative Director (current)

1964-05-08

Yoshimi MOCHIZUKI

Director

Apr 1989 Joined the Company Mar 2013 Plant Manager, Mibu-gawa Plant, Fujibo Ehime Co., Ltd. Apr 2019 Representative Director, President, Fujibo Ehime Co., Ltd. (current) Jun 2021 Director (current)

1966-11-24

Koji TOSAKA

Director

Apr 1990 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Apr 2018 Branch Manager, Nishi-Kasai Branch, MUFG Bank, Ltd. Nov 2019 Joined the Company May 2021 Representative Director, President, Yanai Chemical Industry Co., Ltd. (current) Jun 2025 Director (current)

1967-08-29

Ruth Marie GERMAN

Director

Dec 1988 Joined Recruit Co., Ltd. Dec 2000 Joined Space Design Co., Ltd. Apr 2008 Director, Space Design Co., Ltd. Apr 2012 Representative Director, President, German International Inc. (current) Jun 2019 Director of the Company (current) Jun 2020 Outside Director, KADOKAWA Corporation (current) Mar 2024 Outside Director, Earth Corporation (current)

1966-05-30

Rieko SATO

Director

Apr 1990 Joined Tokyo Electric Power Company, Incorporated (now Tokyo Electric Power Company Holdings, Inc.) Apr 2013 Executive Officer, Customer Service Company, Vice President, Tokyo Electric Power Company Apr 2016 Managing Director, Tokyo Electric Power Energy Partner, Inc. Jun 2017 Audit & Supervisory Board Member, Tokyo Electric Power Energy Partner, Inc. Jun 2022 Full-time Audit & Supervisory Board Member, Tokyo Power Technology Ltd.; Director of the Company (current) Jun 2025 Full-time Audit & Supervisory Board Member, TEPCO Systems Corporation (current)

1964-12-06

Takahiro TSUBOTA

Director

Apr 1981 Joined Iwata Tosou Kiko Kogyo Co., Ltd. (now Anest Iwata Corporation) Jun 2001 Director; General Manager, Painting Systems Department Apr 2003 Director; General Manager, Painting Equipment Department and Painting Systems Department Apr 2004 Director; General Manager, Painting Machine Department Apr 2008 Representative Director, President, Anest Iwata Corporation Apr 2014 Representative Director; President and Executive Officer, Anest Iwata Corporation Apr 2022 Chairman of the Board, Anest Iwata Corporation Jul 2023 Adviser, Anest Iwata Corporation Jun 2024 Director of the Company (current)

1957-05-15

Atsunori NOGUCHI

Full-time Audit & Supervisory Board Member

Apr 1984 Joined the Company Nov 2008 General Manager, Management Planning Department Apr 2011 General Manager, Finance and Accounting Department Jun 2023 Full-time Audit & Supervisory Board Member (current)

1961-11-10

Katsuhiko OKAMOTO

Full-time Audit & Supervisory Board Member

Apr 1988 Joined Oji Unso Co., Ltd. (now Tokyo Fukuyama Transporting Co., Ltd.) May 2012 General Manager, Accounting Department, Fukuyama Transporting Co., Ltd. (seconded) Jul 2013 Joined Fukuyama Transporting Co., Ltd. Feb 2016 General Manager, Accounting Division, Fukuyama Transporting Co., Ltd. Apr 2016 General Manager, Internal Audit Office, Fukuyama Transporting Co., Ltd. Jul 2017 General Manager, Accounting and Finance Division, Fukuyama Transporting Co., Ltd. Jun 2018 Full-time Audit & Supervisory Board Member, Fukuyama Transporting Co., Ltd. Jun 2024 Full-time Audit & Supervisory Board Member of the Company (current)

1966-03-20

Kotaro OTSUKA

Audit & Supervisory Board Member

Apr 1997 Registered as attorney-at-law; joined Ushijima & Partners Apr 1999 Joined Koga Law Office Apr 2006 Representative Attorney, Nakagawa & Otsuka Law Office (current) Jun 2019 Audit & Supervisory Board Member of the Company (current)

1968-08-05

Katsuya FUJII

Audit & Supervisory Board Member

Apr 1980 Joined Kao Soap Co., Ltd. (now Kao Corporation) Mar 2003 General Manager, IR Group, Accounting and Finance Division, Kao Corporation Jun 2011 General Manager, Finance Department, Accounting and Finance Division, Kao Corporation Mar 2017 Full-time Audit & Supervisory Board Member, Kao Corporation Jun 2023 Audit & Supervisory Board Member of the Company (current)

1957-09-08

Takayoshi TAKAI

Director

Apr 1986 Joined Yokohama Agency Co., Ltd. (now Yokohama Agency & Communications Co., Ltd.) Apr 1988 Joined Ebara Corporation Jan 2000 Joined Ebara Foods Industry Co., Ltd. Oct 2007 Executive Officer; General Manager, Corporate Planning Division, Ebara Foods Industry Co., Ltd. Jun 2011 Director, in charge of Management Planning, Ebara Foods Industry Co., Ltd. Apr 2012 Senior Managing Director, Ebara Foods Industry Co., Ltd. Apr 2018 Director and Vice President, Ebara Foods Industry Co., Ltd. Apr 2021 Representative Director and Vice President, Ebara Foods Industry Co., Ltd. Apr 2022 Representative Director, President, Ebara Business Management Co., Ltd. Apr 2024 Adviser, Ebara Business Management Co., Ltd. (current) May 2025 Outside Director, M&A Royal Advisory Co., Ltd. (current) Jun 2026 Director of the Company (current)

1963-06-13

Large Shareholding Reports