Overview
Machinery

MIURA CO.,LTD.

The company and its group of 57 consolidated subsidiaries and 4 equity-method affiliates are primarily engaged in the manufacture, sale, and maintenance of boilers and related equipment. Product offerings span steam boilers, hot water boilers, electric boilers, waste heat boilers, marine auxiliary boilers, ballast water treatment systems, air compressors, heat pumps, water treatment systems, sterilizers, vacuum cooling/thawing equipment, fuel cells, hydrogen production equipment, and commercial laundry equipment. The business is organized into four segments: domestic equipment sales, domestic maintenance, overseas equipment sales, and overseas maintenance.

Market Cap
¥352B
US$2.24B
EV
¥301B
US$1.92B
Stock¥3,045▲+0.30%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
6.6
x
LTM EV/EBIT
9.6
x
LTM PER
12.2
x
LTM PBR
1.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-22.6%pt
1001234
Oct 23, 25 – Oct 23, 26StockTOPIX
1Feb 13, 26FY Q3 results, operating profit slowdown expected
2Aug 10, 26Q1 FY2027/03 earnings announced
3Aug 24, 26Silchester International Investors LLP filed large shareholding report
4Oct 1, 26Silchester International Investors LLP changed stake (5.06%→6.07%)
MC → EV Bridge
352BUS$2.24BMarket Cap23.6BUS$150M+ Debt66.9BUS$426M− Cash9.62BUS$61.3M− Inv. Sec.1.44BUS$9.14M+ NCI301BUS$1.92BEV
AI Briefing
Miura Co.: boiler/thermal equipment group spanning steam, water treatment, sterilization, marine and laundry systems across 57 subsidiaries worldwide. FY26/3 revenue ¥269B with OP margin 11.5%, up from ¥251B/10.1% a year earlier, reflecting steady top-line growth though margin still below FY23-24 peak levels. Net cash balance sheet (¥66.9B cash vs ¥23.6B debt) and ¥298B EV against ¥45.3B LTM EBITDA; Daikin sits among top holders at 4.67%, a strategic overhang worth watching.
Performance & Balance
Revenue 5Y (¥B)
144US$914M'22/3158US$1.01B'23/3160US$1.02B'24/3251US$1.60B'25/3269US$1.71B'26/3
EBITDA 5Y (¥B)
26.3US$168M'22/329.0US$184M'23/329.8US$190M'24/339.7US$253M'25/344.8US$285M'26/3
Net Income 5Y (¥B)
14.4US$91.8M'22/316.9US$107M'23/319.4US$123M'24/323.3US$148M'25/327.6US$176M'26/3
Capital Structure
91%
EquityD/E 0.10xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
40.0US$255M9.88US$62.9M'22/330.6US$195M7.19US$45.8M'23/337.3US$237M6.66US$42.4M'24/355.3US$352M136US$864M'25/369.0US$440M124US$789M'26/3
Shareholders
Top 10 hold 42.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.67%
2
DAIKIN INDUSTRIES,LTD.
4.67%
3
Custody Bank of Japan, Ltd. (Trust Account)
4.61%
4
The Iyo Bank, Ltd.
4.61%
5
The Ehime Bank,Ltd.
3.88%
6
Employee Stock Ownership Association
3.05%
7
Ehime Prefecture
2.59%
8
Miura Educational Promotion Foundation (Public Interest Incorporated Foundation)
2.59%
9
Iyogin Lease Co., Ltd.
2.51%
10
SG/UCITS V/INV (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.25%
Management
9 officers
Daisuke MIYAUCHI
Representative Director; General Manager, Marine Business Headquarters
Apr 1997 Joined the Company Jul 2000 President, MIURA BOILER WEST, INC. (currently MIURA AMERICA CO., LTD.) Jan 2006 General Manager, Chubu Division, the Company Jul 2008 General Manager, System Innovation Division, the Company Jul 2009 Executive Officer, the Company Jan 2010 Deputy General Manager, East Japan Business Headquarters, the Company; Deputy General Manager, New Business Development Headquarters, the Company Jun 2010 Director, the Company Jun 2010 General Manager, Metropolitan Area Business Headquarters, the Company Jul 2012 General Manager, Aqua Business Headquarters, the Company; General Manager, Environment Business Headquarters, the Company Jul 2014 General Manager, Americas Business Headquarters, the Company Apr 2016 Representative Director, President and Executive Officer, the Company Apr 2016 Chairman, Miura Environmental Management Co., Ltd. Jun 2016 Representative Director, President and Executive Officer, CEO, the Company Apr 2024 Representative Director, Chairman of the Board and CGGO, the Company (current); General Manager, Marine Business Headquarters, the Company (current) May 2024 Representative Director, President, Miura Empathy Co., Ltd. (current) Jan 2025 Director (Chairman & CEO), MIURA INTERNATIONAL AMERICAS INC. (current)
1962-06-29
Tsuyoshi YONEDA
Representative Director; General Manager, Production Headquarters
Apr 1991 Joined the Company Apr 2005 General Manager, DS Technology Department, the Company; General Manager, DS Operations Management Department, the Company Apr 2008 General Manager, Water Treatment Technology Department, the Company Jun 2009 General Manager, Water Treatment Technology Division, the Company Jan 2010 General Manager, Aqua Strategy Division, the Company Jul 2012 Executive Officer, the Company; Deputy General Manager, Aqua Business Headquarters, the Company; Deputy General Manager, Environment Business Headquarters, the Company Apr 2016 General Manager, Aqua Business Headquarters, the Company; General Manager, Environment Business Headquarters, the Company Jun 2016 Director and Managing Executive Officer, the Company Apr 2017 General Manager, Aqua Headquarters, the Company Jun 2019 Chairman, Inaxis Inamoto Co., Ltd. Apr 2020 General Manager, Laundry Business Promotion Headquarters, the Company Apr 2021 General Manager, Laundry Business Promotion Division, the Company Jun 2022 Representative Director, President and Executive Officer, Inaxis Inamoto Co., Ltd.; Director and Managing Executive Officer, CTO, the Company Jun 2023 General Manager, Technology Headquarters, the Company; General Manager, Production Headquarters, the Company (current); General Manager, Marine Business Headquarters, the Company Apr 2024 Representative Director, President and Executive Officer, CEO and CTO, the Company Apr 2026 Representative Director, President and Executive Officer, CEO, the Company (current)
1968-10-22
Masayuki HIROI
Director; General Manager, Administration Headquarters
Oct 1985 Joined the Company Jan 2004 General Manager, Ibaraki Branch, the Company Jun 2006 General Manager, Maintenance Sales Promotion Department, the Company Jan 2010 General Manager, North Kanto and Shinetsu Division, the Company Jul 2012 General Manager, Maintenance Sales Promotion Division, the Company Jul 2015 Executive Officer, the Company; General Manager, BP Business Promotion Headquarters, the Company Jul 2018 Senior Executive Officer, the Company Apr 2019 General Manager, BP Business Promotion Block, the Company Apr 2021 Deputy General Manager, Administration Headquarters, the Company Jun 2021 Director and Managing Executive Officer, the Company; General Manager, Administration Headquarters, the Company (current) Chairman, Miura S.A. Co., Ltd. Representative Director, President, Miura Job Partner Co., Ltd. (current) Jun 2023 Representative Director and Senior Managing Executive Officer, the Company Chairman, Miura Environmental Management Co., Ltd. (current) Apr 2024 Director and Senior Managing Executive Officer, the Company (current) Jun 2024 Representative Director, President, Miura S.A. Co., Ltd. (current)
1964-07-24
Kenichi KAWAMOTO
Director; General Manager, Domestic Sales Headquarters
Apr 1993 Joined the Company Apr 2007 General Manager, Shonan Branch, the Company Apr 2009 General Manager, Niigata Branch, the Company Apr 2013 General Manager, Tokyo MI & Total Solutions Department No. 3, the Company Apr 2014 Deputy General Manager, MI Solutions Division, the Company Oct 2016 General Manager, Chubu Division, the Company Apr 2017 General Manager, MI Division, the Company Jan 2023 Deputy General Manager, Domestic Sales Headquarters, the Company Jun 2023 Director and Managing Executive Officer, the Company; General Manager, Domestic Sales Headquarters, the Company (current) Jun 2024 Director and Senior Managing Executive Officer, the Company (current)
1971-03-01
Naoki MUTO
Director
Apr 1986 Joined Terumo Corporation Oct 1996 Accounting Manager, Terumo Medical Corporation (USA) Apr 2015 General Manager, Accounting Department, Terumo Corporation Apr 2019 Executive Officer, CAFO, Terumo Corporation Apr 2022 Managing Officer, CAFO, Terumo Corporation Apr 2024 Advisor, Terumo Corporation (current) Jun 2025 Outside Director, the Company (current)
1963-06-18
Osamu YAMAUCHI
Director; Full-time Audit and Supervisory Committee Member
Apr 1986 Joined the Company Oct 2004 General Manager, Kita-Kanto Branch, the Company Jun 2009 General Manager, Water Treatment Division, the Company Jan 2010 General Manager, Yokohama Branch, the Company Apr 2013 General Manager, North Kanto and Shinetsu Division, the Company Jul 2013 General Manager, Marine Division, the Company Apr 2016 General Manager, Marine Sales Division, the Company Jul 2017 Deputy General Manager, Chubu Division, the Company Apr 2019 General Manager, Tokai Division, the Company Oct 2020 Director of Audit and Supervisory Committee Office, the Company Jun 2023 Director (Audit and Supervisory Committee Member), the Company (current)
1962-05-13
Yoshiaki ANDO
Director; Audit and Supervisory Committee Member
Apr 1975 Joined Konishiroku Photo Industry Co., Ltd. (currently Konica Minolta, Inc.) Mar 1994 Executive Vice President and CFO, Konica Business Machines U.S.A., Inc. (currently Konica Minolta Business Solutions U.S.A., Inc.) Jun 1998 General Manager, Planning Office, Information Equipment Business Division, Konica Corporation (currently Konica Minolta, Inc.) Oct 2002 Director and General Manager, Business Planning Office, Konica Business Machines Co., Ltd. (currently Konica Minolta Japan, Inc.) Oct 2003 Director and General Manager, Planning Headquarters, Konica Minolta Business Solutions Co., Ltd. (currently Konica Minolta Japan, Inc.) Apr 2005 General Manager, Accounting Department, Konica Minolta Holdings, Inc. (currently Konica Minolta, Inc.) Apr 2007 Executive Officer and General Manager, Accounting Department, the same company Apr 2010 Managing Executive Officer, the same company Jun 2010 Director and Managing Executive Officer, CFO, the same company Apr 2013 Director and Managing Executive Officer, CFO, Konica Minolta, Inc. Apr 2014 Director, Konica Minolta, Inc.; Member of Audit Committee, Konica Minolta, Inc.; Member of Compensation Committee, Konica Minolta, Inc.; Member of Nominating Committee, Konica Minolta, Inc. Jun 2019 Outside Director (Audit and Supervisory Committee Member), the Company (current) Apr 2020 General Manager, Audit Office, International Christian University (ICU) (current)
1951-11-16
Tatsuko KOIKE
Director; Audit and Supervisory Committee Member
Apr 1980 Joined Ehime Broadcasting Co., Ltd. (currently TV Ehime Co., Ltd.) Oct 1981 Freelance Announcer Jan 2011 Registered as Attorney-at-Law (Daini Tokyo Bar Association); joined Ginza Sogo Law Office (current) Jun 2019 Outside Director, Origin Co., Ltd. (current) Jun 2021 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2022 Outside Audit & Supervisory Board Member, Sumitomo Riko Company Limited
1957-11-21
Yuko SHORIKI
Director; Audit and Supervisory Committee Member
Apr 1986 Joined NEC Corporation Apr 2010 General Manager, Smart City Business Promotion Department, Business Development Headquarters, NEC Corporation Apr 2015 General Manager, Sales Headquarters, NEC Engineering, Ltd. Apr 2019 Executive Officer, NEC Platforms, Ltd. Apr 2022 Representative Director, President, NEC Shizuoka Business Co., Ltd. Apr 2023 Outside Director, Nittsu Electronics Co., Ltd. Apr 2025 Senior Professional, Smart Industry Division, Manufacturing Solutions Business Division, Enterprise Business Unit, NEC Corporation (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1963-11-19
Large Shareholding Reports
Silchester International Investors LLP
2026-10-01
5.06%→6.07%
Silchester International Investors LLP
2026-08-24
5.06%
Amova Asset Management Co., Ltd.
2026-03-19
3.18%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-01
Large Shareholding Report
EDINET
2026-08-24
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-03-19
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-30
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-05-31
Amended Securities Registration Statement
EDINET
2024-05-30
Securities Registration Statement
EDINETAmended
2024-05-29
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-30
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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