Overview
Machinery

TADANO LTD.

Tadano is a leading global manufacturer of lifting equipment, producing construction cranes (all-terrain, rough-terrain, crawler, and truck cranes), truck-mounted cranes (cargo cranes, knuckle boom cranes, boom trucks), aerial work platforms, and material handling systems. The company serves construction, infrastructure, energy, and industrial markets worldwide, with manufacturing operations in Japan, Germany, Italy, Romania, and the United States. Tadano differentiates itself through pioneering electrification technology, including the world's first fully electric rough-terrain cranes launched for the Japanese market (25t, 2023) and North American market (100t, 2024).

Market Cap
¥161B
US$1.02B
EV
¥211B
US$1.34B
Stock¥1,268▼-0.08%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
6.1
x
LTM EV/EBIT
8.3
x
LTM PER
6.3
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-8.5%pt
1001234
Oct 23, 25 – Oct 23, 26StockTOPIX
1Oct 29, 25Silchester International Investors LLP changed stake (10.01%→8.94%)
2Feb 5, 26Silchester International Investors LLP changed stake (8.94%→7.9%)
3Apr 9, 26Silchester International Investors LLP changed stake (7.9%→6.82%)
4Aug 14, 26Silchester International Investors LLP changed stake (6.82%→5.78%)
MC → EV Bridge
161BUS$1.02BMarket Cap136BUS$868M+ Debt72.1BUS$459M− Cash14.5BUS$92.4M− Inv. Sec.0.12BUS$0.79M+ NCI211BUS$1.34BEV
AI Briefing
Tadano: global lifting-equipment leader (cranes, aerial platforms), FY2025 revenue ¥349B, 64% overseas, electrification pioneer (first fully-electric RT cranes in Japan/N.America). FY2025 OP margin compressed to 5.3% from 8.2% in FY2024 despite revenue growth, signaling cost/mix pressure even as top line scales. Activist presence visible via Japan Activation Capital I & II (combined ~11% stake); trades at EV/EBITDA LTM ~6.2x, margin recovery is the key swing factor for re-rating.
Performance & Balance
Revenue 5Y (¥B)
206US$1.31B'22/3193US$1.23B'22/12280US$1.78B'23/12292US$1.86B'24/12349US$2.23B'25/12
EBITDA 5Y (¥B)
12.1US$77.1M'22/1224.4US$155M'23/1230.5US$194M'24/1227.2US$173M'25/12
Net Income 5Y (¥B)
13.1US$83.4M'22/32.21US$14.1M'22/127.77US$49.5M'23/126.64US$42.3M'24/1218.5US$118M'25/12
Capital Structure
61%
39%
EquityD/E 0.63xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
'22/3106US$672M98.3US$626M'22/12105US$668M91.3US$581M'23/12105US$666M122US$780M'24/1293.5US$595M146US$930M'25/12
Shareholders
Top 10 hold 47.9%
1
The Master Trust Bank of Japan, Ltd.
10.43%
2
Custody Bank of Japan, Ltd.
7.73%
3
JAPAN ACTIVATION CAPITAL I L.P. (Standing Proxy: MUFG Bank, Ltd.)
6.17%
4
Nippon Life Insurance Company
4.94%
5
JAPAN ACTIVATION CAPITAL II L.P. (Standing Proxy: MUFG Bank, Ltd.)
4.76%
6
Meiji Yasuda Life Insurance Company
3.22%
7
TADANO LTD. Business Partners' Stock Ownership Association
2.80%
8
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.69%
9
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.61%
10
The Hyakujushi Bank,Ltd.
2.52%
Management
14 officers
Koichi TADANO
Representative Director, Chairman
Apr 1977 Joined Marubeni Corporation Jun 1988 Joined the Company Jun 1991 General Manager, Office of the President Jan 1997 President and Director, Fan GmbH (currently Tadano Fan GmbH) Jun 1997 Director Apr 1999 Director, Managing Executive Officer Apr 2001 Director, Senior Managing Executive Officer Apr 2002 Representative Director, Senior Managing Executive Officer Jun 2003 Representative Director, President Apr 2021 Representative Director, Chairman (current) Jun 2024 Outside Director, Aozora Bank, Ltd. (current) Significant concurrent positions: Chairman, Tadano Scholarship Foundation; Outside Director, Aozora Bank, Ltd.
1954-07-03
Toshiaki UJIIE
Representative Director, President, CEO
Apr 1984 Joined Marubeni Corporation Apr 2009 General Manager, Construction Machinery Division, Marubeni Corporation Apr 2013 General Manager, Corporate Planning Division, Marubeni Corporation Apr 2014 Executive Officer, Marubeni Corporation Apr 2017 Managing Executive Officer, Marubeni Corporation Apr 2018 Managing Executive Officer and CEO, Transportation Machinery Group, Marubeni Corporation Apr 2019 Joined the Company, Adviser to Planning and Administration Division Jun 2019 Director, Senior Managing Executive Officer Jun 2020 Representative Director, Executive Vice President Apr 2021 Representative Director, President, CEO (current) Jul 2025 Representative Director, President, CEO, Tadano Infrastructure Solutions Ltd. (current) Significant concurrent positions: Representative Director, President, CEO, Tadano Infrastructure Solutions Ltd.
1961-08-29
Tomoaki YASHIRO
Director, Senior Managing Executive Officer
Apr 1986 Joined Sumitomo Corporation May 2006 CEO, Plaza Motors Corp. d.b.a., Mazda de Puerto Rico, and Director, Auto Summit Inc. Apr 2014 General Manager, Lead and Zinc Business Division, Sumitomo Corporation Oct 2015 President, Minera San Cristobal S.A., and CEO, Summit Mining International Inc. Apr 2020 General Manager, Mobility Hub Business Division, Sumitomo Corporation Feb 2021 Joined the Company, General Manager, Overseas Sales Division (attached) Apr 2021 Executive Officer Apr 2022 Managing Executive Officer Mar 2023 Director, Managing Executive Officer Oct 2025 Director, Managing Executive Officer, General Manager, Europe Business Headquarters, General Manager, Global HR and ICT Headquarters, President and CEO, Tadano Europe Holdings GmbH, President and CEO, Tadano Demag GmbH, President and CEO, Tadano Fan GmbH (current) Apr 2026 Director, Senior Managing Executive Officer, General Manager, Europe Business Headquarters, General Manager, Global HR and ICT Headquarters, President and CEO, Tadano Europe Holdings GmbH, President and CEO, Tadano Demag GmbH, President and CEO, Tadano Fan GmbH (scheduled) Significant concurrent positions: President and CEO, Tadano Europe Holdings GmbH; President and CEO, Tadano Demag GmbH; President and CEO, Tadano Fan GmbH
1961-10-10
Satoko OTSUKA
Director
Apr 1986 Joined Toshiba Corporation Oct 1995 Studied at Graduate School of Business, Stanford University, USA Apr 2007 Joined NEC Corporation Jul 2015 Secretariat, Gender Equality Committee (Chu-Joshi), Rocket Society (current) Nov 2017 Expert, First Space Systems Group, Space Systems Division, NEC Corporation Mar 2018 Received Doctorate in Systems Engineering, Keio University Apr 2019 Secretary, Gender Equality Committee, Japan Society for Aeronautical and Space Sciences Apr 2021 Adviser to the Company Jun 2021 Director (current) Apr 2022 Chief Researcher and Technology Area Manager, Center for Human Spaceflight Technology, Manned Space Technology Department, Japan Aerospace Exploration Agency (JAXA) (current) May 2022 General Affairs Director, Japan Society for Aeronautical and Space Sciences Mar 2025 Member, Gender Equality Committee (Chu-Joshi), Rocket Society, Planning Director (current) Significant concurrent positions: Chief Researcher and Technology Area Manager, Center for Human Spaceflight Technology, Manned Space Technology Department, Japan Aerospace Exploration Agency (JAXA)
1961-10-20
Junichi KANEKO
Director
Apr 1976 Joined the Ministry of Labour Aug 2007 Director-General, Minister's Secretariat, Ministry of Health, Labour and Welfare Jul 2008 Director-General, Labour Standards Bureau, Ministry of Health, Labour and Welfare Sep 2012 Vice-Minister, Ministry of Health, Labour and Welfare Apr 2015 Visiting Professor, Institute for Regional Planning, Taisho University Jul 2017 Senior Adviser, Boston Consulting Group Jun 2019 President, Japan Silver Human Resources Center Association Mar 2022 Adviser to the Company Jun 2022 Director (current)
1953-11-01
Koichi TATENUMA
Director
Apr 1990 Full-time Lecturer, Faculty of Economics, Hitotsubashi University Apr 1992 Associate Professor, Faculty of Economics, Hitotsubashi University Apr 1998 Associate Professor, Graduate School of Economics, Hitotsubashi University Apr 2000 Professor, Graduate School of Economics, Hitotsubashi University Apr 2011 Dean, Graduate School of Economics and Faculty of Economics, Hitotsubashi University Dec 2014 President, Hitotsubashi University Dec 2020 Adviser to the Company Jun 2021 Director (current) Apr 2023 Specially Appointed Professor, Graduate School of Economics, Hitotsubashi University Apr 2025 Professor, Tokyo Woman's Christian University (current) Significant concurrent positions: Professor, Tokyo Woman's Christian University
1959-10-12
Shosaku MURAYAMA
Director
Apr 1972 Joined Bank of Japan Feb 1981 Economist, New York Office, Bank of Japan Nov 1994 General Manager, Takamatsu Branch, Bank of Japan Jun 1998 Director-General, Research and Statistics Department, Bank of Japan Mar 2002 Representative Director, President, Teikoku Pharma Co., Ltd. Jun 2011 Representative Director, President, iPS Academia Japan, Inc. Jun 2014 Outside Director, Toho Holdings Co., Ltd. Jul 2014 Representative Director, President, iPS Portal Inc. Jun 2020 Director of the Company (current) Significant concurrent positions: Representative Director, Telescope Museum Foundation
1949-09-21
Masahiko IKEURA
Full-time Audit & Supervisory Board Member
Apr 1981 Joined the Company Jul 1999 Representative Director, President, Tadano Tokyo Sales Co., Ltd. Apr 2005 General Manager, Chugoku Branch, West Japan Branch Office Apr 2008 General Manager, East Japan Branch Office Apr 2009 General Manager, Domestic Sales Planning Division Apr 2012 Executive Officer, Assistant in charge of Domestic Sales Division Apr 2021 Adviser to the Company Jun 2021 Full-time Audit & Supervisory Board Member (current)
1958-08-05
Kiyoshi FUJII
Full-time Audit & Supervisory Board Member
Apr 1985 Joined Shikoku Chemicals Corporation (currently Shikoku Chemicals Holdings Corporation) Apr 1990 Joined Sharp Corporation Jul 1991 Joined the Company Apr 2009 General Manager, Sales Administration Division Jun 2009 Director, Tadano Fan GmbH Feb 2015 General Manager, Global Business Promotion Division Apr 2017 General Manager, Accounting Division Aug 2019 CFO, Tadano Demag GmbH Sep 2022 Left the Company Mar 2023 Full-time Audit & Supervisory Board Member (current) Jun 2025 Director and Audit and Supervisory Committee Member (Outside Director), Shidenko Co., Ltd. (current) Significant concurrent positions: Director and Audit and Supervisory Committee Member (Outside Director), Shidenko Co., Ltd.
1962-08-02
Koji WATANABE
Full-time Audit & Supervisory Board Member
Apr 1980 Appointed Police Officer, Kagawa Prefectural Police Apr 2010 Administrative Officer, Criminal Investigation Division 1, Kagawa Prefectural Police Headquarters Mar 2014 Chief, Criminal Investigation Division 1, Kagawa Prefectural Police Headquarters Mar 2020 Chief, Takamatsu Minami Police Station Mar 2021 Regional Supervisor, Community Safety Division, Kagawa Prefectural Police Headquarters Jun 2022 Full-time Audit & Supervisory Board Member of the Company (current)
1961-11-04
Hisakazu SUZUKI
Audit & Supervisory Board Member
Apr 1977 Joined Sumitomo Corporation Oct 2003 General Manager, Document and General Affairs Division, Sumitomo Corporation Aug 2008 General Manager, Public Relations Division, Sumitomo Corporation Apr 2011 Managing Executive Officer, Sumisho Computer Systems Corporation Oct 2011 Managing Executive Officer, SCSK Corporation Jun 2012 Representative Director, Senior Managing Executive Officer, SCSK Corporation Apr 2016 Representative Director, Executive Vice President, SCSK Corporation Oct 2019 Adviser to the Company Jun 2020 Audit & Supervisory Board Member (current) Dec 2021 Outside Director, CRI Middleware Co., Ltd. (current) Significant concurrent positions: Outside Director, CRI Middleware Co., Ltd.
1954-10-26
Shotaro AKITA
Director
Apr 1996 Joined Tokio Marine & Nichido Fire Insurance Co., Ltd. Jun 2005 Received Master of Business Administration, University of Chicago Booth School of Business Jul 2007 Joined Morgan Stanley MUFG Securities Co., Ltd. (formerly Morgan Stanley Securities Co., Ltd.) Jan 2016 Managing Director, Investment Banking Division, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Dec 2019 Head of Corporate Clients and Managing Director, Tokyo Branch of JPMorgan Chase Bank, N.A., and JPMorgan Securities Japan Co., Ltd. Dec 2023 Partner, Newton Investment Partners Co., Ltd. (currently Japan Activation Capital Co., Ltd.) (current) Mar 2026 Director of the Company (scheduled) Significant concurrent positions: Partner, Japan Activation Capital Co., Ltd.
1974-01-25
Hiroyuki OGAWA
Director
Apr 1985 Joined Komatsu Ltd. Apr 2004 Plant Manager, Chattanooga Plant, Komatsu America Corp. Apr 2007 General Manager, Production Management Department, Osaka Plant, Komatsu Ltd. Apr 2010 Executive Officer, Plant Manager, Ibaraki Plant, Production Division, Komatsu Ltd. Apr 2013 Executive Officer, General Manager, Procurement Division, Production Division, Komatsu Ltd. Apr 2014 Executive Officer, General Representative for Indonesia, and Chairman, Komatsu Marketing & Support Indonesia Apr 2015 Executive Officer, General Representative for Indonesia, and Chairman, Komatsu Marketing & Support Indonesia Apr 2016 Managing Executive Officer, Head of Production Division, Komatsu Ltd. Apr 2018 Senior Managing Executive Officer, Komatsu Ltd. Jun 2018 Director, Senior Managing Executive Officer, Komatsu Ltd. Apr 2019 Representative Director, President and CEO, Komatsu Ltd. Apr 2025 Director and Chairman, Komatsu Ltd. (current) Mar 2026 Director of the Company (scheduled) Significant concurrent positions: Director and Chairman, Komatsu Ltd.
1961-03-23
Mami KATO
Audit & Supervisory Board Member
Apr 1986 Joined IBM Japan, Ltd. Apr 1997 Registered as Attorney-at-Law (to present) Jan 1998 Joined Sakuragaoka Law Office (to present) Apr 2012 Vice President, Daini Tokyo Bar Association Jun 2016 Outside Director, Maezawa Kasei Industries Co., Ltd. (current) Jul 2018 Outside Director and Audit and Supervisory Committee Member, Visionary Holdings Co., Ltd. Jun 2019 Outside Director, Asakuma Corporation Jun 2021 Audit & Supervisory Board Member of the Company (current) Significant concurrent positions: Attorney-at-Law (Sakuragaoka Law Office); Outside Director, Maezawa Kasei Industries Co., Ltd.
1963-05-07
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-10-07
6.65%→7.73%
Silchester International Investors LLP
2026-08-14
6.82%→5.78%
Silchester International Investors LLP
2026-04-09
7.90%→6.82%
Silchester International Investors LLP
2026-02-05
8.94%→7.90%
Nomura Asset Management Co., Ltd.
2026-01-19
5.87%→6.65%
Silchester International Investors LLP
2025-10-29
10.01%→8.94%
Nomura Asset Management Co., Ltd.
2025-10-06
4.73%→5.87%
Amova Asset Management Co., Ltd.
2025-09-19
3.90%→2.41%
Nikko Asset Management Co., Ltd.
2025-08-06
4.59%→3.90%
Silchester International Investors LLP
2025-03-24
9.43%→10.01%
Silchester International Investors LLP
2024-02-29
10.50%→9.43%
Silchester International Investors LLP
2024-01-17
11.55%→10.50%
Silchester International Investors LLP
2022-09-05
10.53%→11.55%
Silchester International Investors LLP
2022-06-15
9.50%→10.53%
Silchester International Investors LLP
2021-09-21
10.51%→9.50%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-08-14
Large Shareholding Report
EDINET
2026-08-04
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-04
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-07
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-04-09
Large Shareholding Report
EDINET
2026-03-18
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-02-05
Large Shareholding Report
EDINET
2026-01-19
Large Shareholding Report
TDnet
2025-11-07
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-10-29
Large Shareholding Report
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-08-06
Large Shareholding Report
TDnet
2025-05-09
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-28
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2025-03-24
Large Shareholding Report
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-02-29
Large Shareholding Report
EDINET
2024-01-17
Large Shareholding Report
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
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Apr 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-09-05
Large Shareholding Report
EDINET
2022-08-10
Quarterly Securities Report
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