Overview
Transportation Equipment

MURAKAMI CORPORATION

Murakami Kaimeido is a leading manufacturer and seller of automotive rearview mirrors and fine glass products, with operations spanning Japan, Asia, North America, and Europe. The company supplies mirrors to major automotive OEMs and operates a globally integrated production network across China, Thailand, Indonesia, India, Mexico, and the United States. With approximately 140 years of history, the company differentiates itself through advanced optical and glass processing technologies contributing to vehicle safety, comfort, and driver visibility.

Market Cap
¥78.3B
US$499M
EV
¥26.2B
US$167M
Stock¥6,760▲+0.45%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
2.0
x
LTM EV/EBIT
2.7
x
LTM PER
13.5
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-20.8%pt
1001
Oct 23, 25 – Oct 23, 26StockTOPIX
1Apr 8, 26Nippon Active Value Fund PLC (NAVF) changed stake (1.05%→1.42%)
MC → EV Bridge
78.3BUS$499MMarket Cap0.14BUS$0.90M+ Debt47.0BUS$299M− Cash8.20BUS$52.2M− Inv. Sec.3.01BUS$19.2M+ NCI26.2BUS$167MEV
AI Briefing
Murakami Kaimeido: ~140-year-old Tier-1 auto supplier, rearview mirrors & fine glass, 18 subsidiaries across Asia/NA/Europe. FY26/3 revenue ¥116B, OP ¥9.2B (7.9% margin) — steady growth, margins holding near 8% since FY24/3. Net cash-rich (¥47.0B cash vs ¥0.1B debt) with EV/EBITDA near 2x — tightly held register led by founding family and Mitsubishi UFJ.
Performance & Balance
Revenue 5Y (¥B)
73.6US$469M'22/390.6US$577M'23/3105US$666M'24/3109US$695M'25/3116US$736M'26/3
EBITDA 5Y (¥B)
8.99US$57.2M'22/39.46US$60.2M'23/312.5US$79.3M'24/313.0US$82.8M'25/313.6US$86.6M'26/3
Net Income 5Y (¥B)
3.87US$24.6M'22/35.37US$34.2M'23/35.89US$37.5M'24/35.94US$37.8M'25/36.08US$38.7M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
39.3US$250M1.62US$10.3M'22/343.5US$277M1.63US$10.4M'23/348.8US$311M0.11US$0.67M'24/352.4US$334M0.22US$1.37M'25/354.5US$347M0.14US$0.90M'26/3
Shareholders
Top 10 hold 60.9%
1
Hoei-sha Co., Ltd.
16.05%
2
Taro MURAKAMI
12.61%
3
NIPPON ACTIVE VALUE FUND PLC (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
6.19%
4
MUFG Bank, Ltd.
5.02%
5
Nakajimaya Hotels Co., Ltd.
3.97%
6
The Shizuoka Bank, Ltd.
3.96%
7
Tachibana Securities Co., Ltd.
3.72%
8
Tokyo Small and Medium Business Investment & Consultation Co., Ltd.
3.46%
9
Meiji Yasuda Life Insurance Company
3.00%
10
Suruga Bank Ltd.
2.91%
Management
13 officers
Taro MURAKAMI
Representative Director, President
Nov 1985 Joined the Company Jun 1989 Director of the Company Jun 1993 General Manager, Business Administration Department, Mirror Equipment Division Jul 1996 Deputy General Manager, Building Materials Division Jul 2001 Deputy General Manager, Mirror Systems Division Jun 2002 Senior Managing Director; Assistant to the President and General Manager, Planning Department; Chairman and C.E.O., Murakami Manufacturing U.S.A. Inc. May 2005 Assistant to the President and General Manager, Information Systems Department Jun 2005 Representative Director and Executive Vice President Jun 2008 Representative Director and President (current)
1958-07-10
Takeshi HASEGAWA
Senior Managing Director, General Manager of Accounting and Finance Division and General Manager of Accounting and Finance Department of the same division
Apr 1982 Joined the Company Mar 2009 General Manager, Accounting Department Jun 2012 Executive Officer; General Manager, Management Control Department, Administration Division Apr 2015 Managing Executive Officer Jun 2017 Director Feb 2018 General Manager, Administration Division; General Manager, Accounting Department, Administration Division Apr 2020 General Manager, Management Planning Division and General Manager, Accounting Department Jun 2020 Managing Director Apr 2022 General Manager, Accounting Department, Management Planning Division Apr 2024 General Manager of Accounting and Finance Division and General Manager of Accounting and Finance Department of the same division (current) Jun 2024 Senior Managing Director (current)
1959-02-04
Atsushi KASUYA
Managing Director, General Manager of Global Procurement Division
Mar 1984 Joined the Company Mar 2009 General Manager, Business Administration Department, Mirror Systems Division Apr 2010 Deputy General Manager, Jiaxing Murakami Automotive Parts Co., Ltd. Feb 2013 General Manager, Procurement Department, Mirror Systems Division Apr 2014 General Manager, Business Administration Department, Mirror Systems Division Jul 2017 General Manager, Business Strategy Office Dec 2018 General Manager, Business Administration Department, Mirror Systems Division Apr 2020 Managing Executive Officer; Deputy General Manager, Mirror Systems Division and General Manager, Production Control Department Oct 2020 General Manager, Procurement Division Apr 2022 General Manager, Management Planning Division Jun 2023 Director Jun 2024 Managing Director (current) Apr 2025 General Manager of Global Procurement Division (current)
1966-03-29
Masahide HIRASAWA
Director
Apr 1983 Joined Canon Inc. Jan 1998 Head, Electronic Imaging 22 Design Office, Canon Inc. Jul 2006 Deputy General Manager, DCP Second Development Center, Canon Inc. Jan 2010 General Manager, DCP Second Development Center, Canon Inc. Jan 2016 General Manager, ICP General Management Second Development Center, Canon Inc. May 2018 Joined the Company as Adviser Apr 2019 Managing Executive Officer Apr 2020 General Manager, Second Development Division Jun 2020 Director (current) Apr 2021 General Manager, Development Division Sep 2021 General Manager, Second Development Division May 2022 General Manager, New Business Promotion Division; Head, Advanced Development Office Apr 2024 General Manager, Future Lab Division and General Manager, Technology Marketing Department of the same division Apr 2025 General Manager, New Business Promotion Division and General Manager, Marketing Strategy Department of the same division
1958-04-08
Hiroaki MATSUDA
Director, General Manager of Global Sales Division
Mar 1989 Joined the Company Apr 2011 President, Murakami Kaimeido Kasei Co., Ltd. Apr 2015 Deputy General Manager, Optronics Division Apr 2016 Executive Officer; General Manager, Optronics Division and General Manager, Opto Production Department Oct 2016 General Manager, Opto Sales Department Jul 2019 General Manager, Opto Business Administration Department Apr 2020 General Manager, Sales Division Apr 2021 Managing Executive Officer Jun 2023 Director (current) Apr 2025 General Manager of Global Sales Division (current)
1966-06-23
Masahiro SHIMAMURA
Director, General Manager of Corporate Division and General Manager of Corporate Services Department of the same division
Mar 1984 Joined the Company Feb 2013 General Manager, Disaster Prevention and Safety Department, Administration Division Feb 2014 General Manager, General Affairs and Human Resources Department, Administration Division; General Manager, Disaster Prevention and Safety Department of the same division Oct 2015 President and Representative Director, Murakami Kaimeido Kyushu Co., Ltd. Apr 2017 President and Director, PT. Murakami Delloyd Indonesia Apr 2018 Executive Officer May 2019 Officer, Business Promotion Office, Management Planning Division Apr 2020 General Manager, Global Sales Department, Sales Division Apr 2021 Executive Officer Apr 2022 Managing Executive Officer Apr 2024 General Manager of Corporate Division (current) Jun 2024 Director (current) May 2026 General Manager, Corporate Services Department, Corporate Division (current)
1962-01-02
Kenta MAEDA
Director, General Manager of Management Division and General Manager of Corporate Planning Department of the same division
Mar 1989 Joined the Company Sep 2009 General Manager, Procurement Department, Mirror Systems Division Feb 2011 General Manager, Third Manufacturing Department, Mirror Systems Division Feb 2013 General Manager, Jiaxing Murakami Automotive Parts Co., Ltd. Apr 2015 Executive Officer Apr 2019 General Manager, Global Sales Department, Mirror Systems Division; General Manager, Global Sales Department, Mirror Systems Division and Director (President), Murakami Germany GmbH Apr 2020 General Manager, Optronics Division and General Manager, Opto Business Administration Department of the same division; Director (President), Murakami Germany GmbH Jul 2020 General Manager, Optronics Division; General Manager, Opto Business Administration Department and Opto Technology Office of the same division; Director (President), Murakami Germany GmbH Sep 2020 General Manager, Optronics Division; General Manager, Opto Business Administration Department, Opto Technology Office and Opto Production Department of the same division; Director (President), Murakami Germany GmbH Apr 2024 President, AG Co., Ltd. Apr 2024 General Manager, Corporate Planning Department, Corporate Planning Division Apr 2024 Managing Executive Officer Apr 2024 General Manager of Management Division and General Manager of Corporate Planning Department of the same division; Director (President), Murakami Corporation (Thailand) Ltd. Jun 2025 General Manager of Management Division and General Manager of Corporate Planning Department of the same division (current) Jun 2025 Director (current)
1966-03-15
Koichi CHIKARAISHI
Director
Apr 1980 Joined Nippon Yusen Kabushiki Kaisha (NYK Line) Apr 2009 Member of the Management Committee, NYK Line Apr 2012 Senior Managing Member of the Management Committee, NYK Line Jun 2012 Director and Senior Managing Member of the Management Committee, NYK Line Apr 2013 Representative Director and Executive Vice President, NYK Line Apr 2019 Director, NYK Line Jun 2019 Adviser, NYK Line Jun 2019 Outside Audit & Supervisory Board Member, Fuji Oil Company, Limited Jun 2019 Director, the Company (current) Jun 2022 Outside Director, Shibusawa Warehouse Co., Ltd. (current) Apr 2025 Representative Director, President and Executive Officer, NYK Energy Ocean Co., Ltd. (current)
1957-04-19
Yumiko ASHIBA
Director
Sep 1990 Joined Ashiba Accounting Office Dec 1994 Registered as Certified Tax Accountant Jan 2013 Head, Ashiba Accounting Office (current) May 2021 Outside Director, Maxvalu Tokai Co., Ltd. (current) Jun 2021 Director, the Company (current)
1959-04-01
Yasuo GOTO
Director
Apr 1971 Joined Ajinomoto Co., Inc. Apr 1978 Joined Hagoromo Canned Foods Co., Ltd. (now Hagoromo Foods Corporation) Feb 1980 General Manager, General Affairs Department, Hagoromo Canned Foods Co., Ltd. Jun 1983 Director and General Manager, General Affairs Department Jun 1985 Managing Director and General Manager, General Affairs Department Jun 1986 President and Representative Director Jun 2007 Chairman and Representative Director (current) Feb 2008 Chairman, Hagoromo Education and Research Foundation (current) Jun 2023 Director, the Company (current) Outside Director, Kawai Musical Instruments Manufacturing Co., Ltd. (current)
1949-02-14
Kunio MASUI
Full-time Corporate Auditor
Apr 1977 Joined Asahi Glass Co., Ltd. (now AGC Inc.) Oct 2002 Director and General Manager, Sales Department, Soda Ash Japan Co., Ltd. Nov 2005 General Manager, Nagoya Branch, Chemicals Company, Asahi Glass Co., Ltd.; Part-time Director, Murakami Chemical Co., Ltd. Dec 2007 Senior Manager, Fluorochemicals Business Division, Chemicals Company, Asahi Glass Co., Ltd. (now AGC Inc.) Jul 2008 Joined the Company as Adviser Jun 2009 Director; General Manager, President's Office Apr 2010 General Manager, Internal Audit Office Jun 2011 Executive Officer Jun 2012 Corporate Auditor (current)
1953-09-24
Toru SAKURAI
Corporate Auditor
Apr 1976 Joined The Shizuoka Bank, Ltd. Jun 2005 Representative Director and Deputy President, The Shizuoka Bank, Ltd. Jun 2010 Chairman of the Board of Directors, The Shizuoka Bank, Ltd. Jun 2012 Adviser, The Shizuoka Bank, Ltd.; Representative Director and Chairman, Seigin Lease Co., Ltd. Jun 2016 Corporate Auditor, the Company (current)
1953-05-04
Tetsuo OKITSU
Corporate Auditor
Apr 1977 Registered as Attorney-at-law Attorney-at-law, Tetsuo Okitsu Law Office (current) Apr 2005 Legal Adviser, Shizuoka City Feb 2021 Provisional Corporate Auditor, the Company Jun 2021 Corporate Auditor (current)
1950-01-12
Large Shareholding Reports
NIPPON ACTIVE VALUE FUND PLC
2026-04-08
5.81%→5.94%
NIPPON ACTIVE VALUE FUND PLC
2025-01-10
5.67%→5.81%
NIPPON ACTIVE VALUE FUND PLC
2024-06-24
4.47%→5.67%
NIPPON ACTIVE VALUE FUND PLC
2024-06-18
4.47%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-08
Large Shareholding Report
TDnet
2026-02-10
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-10
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2025-01-10
Large Shareholding Report
EDINET
2024-11-08
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-07-09
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-24
Large Shareholding Report
EDINET
2024-06-18
Large Shareholding Report
EDINET
2024-02-06
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-08
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-07
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-08
Quarterly Securities Report
EDINET
2022-08-08
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-08
Quarterly Securities Report
EDINETAmended
2021-11-15
Amended Quarterly Securities Report
EDINET
2021-11-08
Quarterly Securities Report
EDINET
2021-08-05
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-05
Quarterly Securities Report
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