Overview
Services

DN HOLDINGS CO.,LTD.

DN Holdings is a holding company for a group of infrastructure consulting firms in Japan, primarily engaged in civil engineering, architecture, surveying, geology, and geotechnical consulting services. The group's core subsidiary, Dainippon Dia Consultants Co., Ltd., provides survey, planning, design, and construction supervision services related to social infrastructure development. The group also has an international presence through Nippon Engineering-Vietnam Co., Ltd. and is involved in renewable energy businesses.

Market Cap
US$88.1M
¥14.1B
EV
US$67.5M
¥10.8B
StockUS$10.76(¥1,719)▲+1.90%
US$1 = ¥159.70 (2026-11-12)
LTM EV/EBITDA
5.4
x
LTM EV/EBIT
7.4
x
LTM PER
14.3
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-34.6%pt
100
Nov 13, 25 – Nov 13, 26StockTOPIX
MC → EV Bridge
US$88.1M¥14.1BMarket CapUS$3.20M¥0.51B+ DebtUS$16.3M¥2.61B− CashUS$7.53M¥1.20B− Inv. Sec.US$67.5M¥10.8BEV
AI Briefing
DN Holdings runs Japan's infrastructure consulting group via core unit Dainippon Dia Consultants, spanning civil engineering, surveying and geotechnical design for public works, with Vietnam and renewable energy as growth adjacencies. FY25/6 revenue US$232M (¥37.0B) with OP margin 7.3%; FY26/6 revenue guided to US$239M (¥38.1B) but OP margin compresses to 3.8%, signaling cost or mix pressure despite top-line growth. Shareholder base is notably fragmented between employee/alumni stock ownership plans and financial investors including Mitsuuroko KK's investment partnership and a regional bank, with no dominant strategic holder evident.
Performance & Balance
Revenue 5Y (US$)
US$201M¥32.1B'22/6US$204M¥32.6B'23/6US$214M¥34.1B'24/6US$232M¥37.0B'25/6US$238M¥38.1B'26/6
EBITDA 5Y (US$)
US$16.8M¥2.68B'22/6US$16.7M¥2.66B'23/6US$14.7M¥2.34B'24/6US$21.0M¥3.36B'25/6US$12.3M¥1.97B'26/6
Net Income 5Y (US$)
US$9.42M¥1.51B'22/6US$11.0M¥1.76B'23/6US$9.75M¥1.56B'24/6US$12.0M¥1.92B'25/6US$5.92M¥0.95B'26/6
Capital Structure
97%
EquityD/E 0.03xDebt
Liquidity vs Debt 5Y (US$)▲ Net Cash
CashInv. Sec.Debt
US$31.5M¥5.02BUS$8.16M¥1.30B'22/6US$29.9M¥4.78BUS$6.90M¥1.10B'23/6US$17.9M¥2.86BUS$12.4M¥1.98B'24/6US$23.8M¥3.80BUS$5.28M¥0.84B'25/6US$23.9M¥3.81BUS$3.20M¥0.51B'26/6
Shareholders
Top 10 hold 41.0%
1
DN HOLDINGS CO.,LTD. Employee Stock Ownership Association
10.33%
2
Hikari Tsushin Investment Limited Partnership
6.06%
3
DN HOLDINGS CO.,LTD. Stock Ownership Association
5.28%
4
The Hokuriku Bank, Ltd.
3.98%
5
UH Partners 2 Investment Limited Partnership
3.60%
6
The Master Trust Bank of Japan, Ltd.
3.49%
7
MUFG Bank, Ltd.
2.31%
8
Kawada Techno System Co., Ltd.
2.10%
9
Fujimae Kogyo Co., Ltd.
2.02%
10
Sadako KAWADA
1.86%
Management
6 officers
Saneyoshi YOSHIMURA
Representative Director, President and Executive Officer
Apr 1982 Joined Dia Consultant Co., Ltd. (currently Dai Nippon Dia Consultant Co., Ltd.) Apr 2007 Manager, Geology Analysis Center, Geoengineering Business Division, the same company Apr 2010 Deputy Director, Geo-Environment Center, Geoengineering Business Division, the same company Apr 2011 Director, Geo-Environment Center, Geoengineering Business Division, the same company Apr 2013 Executive Officer; General Manager, Geo-Environment Business Department, Geoengineering Business Division, the same company Apr 2014 Executive Officer; Deputy Head, Geoengineering Business Division, the same company Apr 2015 Executive Officer; Assistant Head, Geoengineering Business Division, the same company Apr 2016 Executive Officer; Head, Geoengineering Business Division, the same company Apr 2017 Director; Head, Geoengineering Business Division, the same company Apr 2020 Director, the same company Jul 2021 Director (Full-time Audit and Supervisory Committee Member), the Company Sep 2026 Representative Director, President and Executive Officer, the Company (current)
1957-09-29
Tetsuro SAITO
Director, Executive Vice President and Executive Officer
Apr 1985 Joined Dai Nippon Consultant Co., Ltd. (currently Dai Nippon Dia Consultant Co., Ltd.) Jul 2010 Deputy General Manager, Structural Conservation Business Division, the same company Jul 2012 Deputy Director, Technical Management Center, the same company Jul 2013 Deputy Head, Structural Conservation Business, Technical Management Department; General Manager, Management Department, Tokyo Branch (Technology Strategy); Executive Officer, the same company Jul 2016 General Manager, Technical Management Department, the same company Sep 2016 Managing Executive Officer, the same company Jul 2023 Head, Technical Division; Director, the same company Sep 2025 Representative Director, Vice President, the same company Mar 2026 Representative Director, President, the same company (current) Jul 2026 Executive Officer, the Company Sep 2026 Director, Executive Vice President and Executive Officer, the Company (current)
1960-11-03
Tsuyoshi INOUE
Director
Apr 1976 Joined Japan Development Bank Mar 1993 Deputy General Manager, Examination Department, the same bank Mar 1995 Deputy General Manager, General Affairs Department, the same bank Mar 1997 Manager, Human Resources Department, the same bank Oct 1999 Manager, Human Resources Department, Development Bank of Japan Inc. Jun 2000 Secretary, Development Bank of Japan Inc. May 2002 General Manager, Industry and Technology Department, Development Bank of Japan Inc. Jun 2004 General Manager, Tohoku Branch, Development Bank of Japan Inc. Jun 2006 Auditor, Development Bank of Japan Inc. Oct 2008 Full-time Corporate Auditor, Development Bank of Japan Inc. Jun 2010 Managing Director, Business Planning Office (in charge of cost management and accounting), Japan Nuclear Fuel Limited Jun 2013 Managing Director and Managing Executive Officer, Management Division (in charge of cost management and accounting), Japan Nuclear Fuel Limited Jun 2014 Representative Director, President, Value Research Institute Co., Ltd.; Auditor, Mitsubishi Paper Mills Limited Jun 2015 Auditor, Fuji Oil Co., Ltd. Jun 2016 Representative Director, President, Japan Economic Research Institute Inc.; Director, Topy Industries, Limited Jul 2021 Director (Audit and Supervisory Committee Member), the Company Sep 2026 Director, the Company (current)
1952-04-04
Tamotsu SUZUKI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1983 Joined Kawada Industries, Inc. Seconded to Kawada Construction Co., Ltd. Apr 1993 Transferred to Dai Nippon Consultant Co., Ltd. (currently Dai Nippon Dia Consultant Co., Ltd.) Jul 2010 General Manager, Sales Planning Department, Tohoku Branch, the same company Jul 2013 Senior Manager in charge, CM Technology Office, Tohoku Branch, the same company Jul 2014 General Manager, Sales Planning Department, Tohoku Branch, the same company Apr 2018 Senior Manager attached to Business Management Department (in charge of East Japan), the same company Jul 2018 Executive Officer; General Manager, Business Management Department, the same company Jul 2023 General Manager, Sales Division, the same company Jul 2024 Managing Executive Officer, the same company Sep 2024 Director, the same company Sep 2026 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1961-01-17
Miyuki SANO
Director (Audit and Supervisory Committee Member)
Apr 1985 Joined Nippon Telegraph and Telephone Corporation (currently NTT, Inc.) Jun 2015 Joined NTT Human Solutions Corporation (currently Pasona HS Inc.); Director, General Manager, Planning and General Affairs Department Aug 2018 Managing Executive Officer, General Manager, Planning and General Affairs Department, the same company Jun 2020 Managing Executive Officer, Deputy Head, General Headquarters of Sales, the same company Jun 2023 Director, CRESCO, Ltd. (current) Jun 2024 Director, Hokuriku Electric Industry Co., Ltd. (current) Sep 2025 Director (Audit and Supervisory Committee Member), the Company (current)
1962-05-26
Masahiro YAMANE
Director (Audit and Supervisory Committee Member)
Oct 1998 Joined Century Audit Corporation (currently EY ShinNihon LLC) Jul 2013 Established Yamane Certified Public Accountant Office Jun 2014 Auditor, Abix Corporation Jun 2023 Director (Audit and Supervisory Committee Member), Abix Corporation (current) Jul 2024 Auditor, PXC Co., Ltd. (currently ADTANK Co., Ltd.) (current) Sep 2026 Director (Audit and Supervisory Committee Member), the Company (current)
1973-10-06
Large Shareholding Reports
Koutsushin Co., Ltd.
2026-10-15
6.89%→6.89%
Koutsushin Co., Ltd.
2025-09-29
6.89%→6.89%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-11-13
Q1 Earnings Flash
FY ending Jun 2027
EDINET
2026-10-15
Large Shareholding Report
EDINET
2026-09-30
Annual Securities Report
Period: Jul 2025 – Jun 2026
TDnet
2026-08-07
Full-Year Earnings Flash
FY ending Jun 2026
TDnet
2026-08-07
業績予想の修正
FY ending Jun 2026
TDnet
2026-05-15
Q3 Earnings Flash
FY ending Jun 2026
EDINET
2026-02-13
Semi-Annual Securities Report
Period: Jul 2025 – Jun 2026
TDnet
2025-11-14
Q1 Earnings Flash
FY ending Jun 2026
EDINET
2025-10-21
Securities Registration Statement
EDINET
2025-09-29
Large Shareholding Report
EDINET
2025-09-25
Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2025-05-15
Q3 Earnings Flash
FY ending Jun 2025
EDINET
2025-02-14
Semi-Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2024-11-14
Q1 Earnings Flash
FY ending Jun 2025
EDINET
2024-09-30
Annual Securities Report
Period: Jul 2023 – Jun 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINETAmended
2023-11-14
Amended Securities Registration Statement
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-10-23
Securities Registration Statement
EDINET
2023-09-29
Annual Securities Report
Period: Jul 2022 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-09-29
Annual Securities Report
EDINET
2022-05-16
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-15
Quarterly Securities Report
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