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Overview

Wholesale Trade

SPK CORPORATION

SPK Corporation is a specialized trading company engaged in the domestic sales and import/export of automotive parts, accessories, and industrial machinery/vehicle parts across four business divisions. The company distributes products from domestic and overseas manufacturers to regional parts wholesalers and car accessory shops nationwide through 19 domestic locations, while also exporting to over 80 countries via local importers and 8 overseas subsidiaries. Additional business activities include supply of assembly parts to construction machinery, agricultural equipment and forklift manufacturers, as well as customized parts, motorsports, original brand, motorcycle, and e-Sports businesses.

Market Cap

US$176M

¥28.1B

US$159M

¥25.4B

StockUS$8.71(¥1,391)▲+0.80%

US$1 = ¥159.70 (2026-11-12)

LTM EV/EBITDA

5.2

LTM EV/EBIT

6.5

LTM PER

10.9

LTM PBR

0.9

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+4.6%pt

Nov 13, 25 – Nov 13, 26StockTOPIX

MC → EV Bridge

AI Briefing

SPK trades global auto/industrial parts across 80+ countries via 19 domestic sites and 8 overseas units, with a long consecutive dividend-increase streak. FY26/3 guidance calls for revenue US$471M (¥75.2B) and OP US$22.5M (¥3.6B) (4.8% margin), building steadily from FY25/3's US$430M (¥68.7B)/US$20.7M (¥3.3B). Shareholder base features concentrated investment-partnership holders (UH Partners entities, 光通信KK) alongside the employee stock ownership plan, underscoring an active, closely-watched ownership structure.

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Performance & Balance

Revenue 5Y (US$)

EBITDA 5Y (US$)

Net Income 5Y (US$)

Capital Structure

78%

22%

EquityD/E 0.28xDebt

Liquidity vs Debt 5Y (US$)▲ Net Cash

CashInv. Sec.Debt

Business Segments

2026/03 · US$ (¥B) · Segment profit (ordinary profit)

Domestic sales Division

Revenue

US$207M(¥33.0B)

Segment profit

US$9.52M(¥1.52B)4.6%

International Trade Division

Revenue

US$175M(¥28.0B)

Segment profit

US$6.13M(¥0.98B)3.5%

Machinery Equipment Division

Revenue

US$51.1M(¥8.16B)

Segment profit

US$3.57M(¥0.57B)7.0%

CUSPA Division

Revenue

US$45.2M(¥7.22B)

Segment profit

US$2.60M(¥0.42B)5.7%

Adjustments

Revenue

-US$7.08M(¥-1.13B)

Segment profit

US$2.52M(¥0.40B)

Shareholders

Top 10 hold 44.1%

as of 2026-09-30 · Source: Annual Securities Report

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

8.87%

UH Partners 2 Investment Limited Liability Partnership

7.43%

Hikari Tsushin KK Investment Limited Liability Partnership

6.45%

SPK Employee Stock Ownership Association

4.99%

UH Partners 3, Inc.

4.91%

Custody Bank of Japan, Ltd. (Trust Account)

3.66%

Kazuko WATABE

3.00%

Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)

2.31%

Miyako Automobile Industries Co., Ltd.

1.41%

Hikari Tsushin KK No. 5 Investment Limited Liability Partnership

1.03%

Management

8 officers

Kyoichiro OKI

Representative Director, President; Group CEO and CIO

Apr 1982 Joined ITOCHU Corporation May 2002 Joined the Company, General Manager of Domestic Sales Strategy Office, Domestic Sales Division Apr 2007 Deputy General Manager, Domestic Sales Division, the Company Jun 2009 Director, the Company Apr 2011 General Manager, Overseas Sales Division, the Company Apr 2015 Managing Director, the Company Apr 2018 Representative Director, President, the Company (current) Jun 2025 Group CEO and CIO, the Company (current)

1959-09-22

Akiyoshi KIMURA

Director, Executive Vice President Executive Officer; COO, in charge of Group Sales Division

Apr 1985 Joined Nichimen Corporation (currently Sojitz Corporation) Nov 2002 Joined Toyota Tsusho Corporation Apr 2014 President, Toyota Adria d.o.o. Apr 2017 Joined the Company, Manager, Sales Promotion Department, Overseas Sales Division Oct 2017 Deputy General Manager, Overseas Sales Division, the Company Apr 2018 Executive Officer, the Company Apr 2020 General Manager, Overseas Sales Division, the Company Jun 2020 Director, the Company Jun 2022 Managing Director, the Company Jun 2023 Senior Managing Director, the Company Apr 2024 In charge of Overseas Business, the Company Apr 2025 Group Head, Sales Division, the Company (current) Jun 2025 Director, Executive Vice President COO, the Company (current) Apr 2026 Director, Executive Vice President Executive Officer, the Company (current)

1962-02-25

Koji UEDA

Director, Managing Executive Officer; CLO, in charge of Operating Companies

Apr 1986 Joined the Company Apr 2008 General Manager, Osaka Foreign Auto Parts Center, the Company May 2013 Manager, Nagoya Sales Office, Domestic Sales Division, the Company Apr 2019 Executive Officer; General Manager, Foreign Auto Parts Center, Domestic Sales Division, the Company Apr 2020 General Manager, Global Aftermarket Center, the Company Apr 2021 Deputy General Manager, Domestic Sales Division, the Company Jun 2022 Director, in charge of Operating Companies, the Company (current) Jun 2025 CPO, the Company Apr 2026 Director, Managing Executive Officer, the Company (current); CLO (current)

1963-08-21

Masafumi OGAWA

Director, Managing Executive Officer; CFO, General Manager, Corporate Division

Apr 1991 Joined Mitsubishi Corporation Dec 2021 Director, TVS Automobile Solutions Sep 2024 Joined the Company as Managing Executive Officer, Assistant to the President, in charge of Corporate Planning Apr 2025 General Manager, Corporate Division, the Company (current) Jun 2025 Director, CFO, the Company (current) Apr 2026 Director, Managing Executive Officer, the Company (current)

1969-01-18

Koji NISHIJIMA

Director

Apr 1973 Joined Kyowa Bank (currently Resona Bank, Ltd.) Oct 2003 Director and Representative Executive Vice President, Resona Bank, Ltd. Jun 2006 Representative Director, President, Daia Kensetsu Co., Ltd. (currently Daiwa Jisho Co., Ltd.) Jun 2013 Outside Audit & Supervisory Board Member, Soda Nikka Co., Ltd. Jun 2015 Director, the Company (current); Outside Director, Soda Nikka Co., Ltd. Jun 2019 Retired as Outside Director, Soda Nikka Co., Ltd.

1949-05-15

Toshio SHIMIZU

Director, Full-time Audit and Supervisory Committee Member

Mar 1977 Joined the Company Apr 1999 Manager, Internal Audit Office, the Company Apr 2014 General Manager, Operations Department, Overseas Sales Division, the Company Jun 2015 Full-time Audit & Supervisory Board Member, the Company Jun 2020 Director, Full-time Audit and Supervisory Committee Member, the Company (current)

1955-02-06

Yusaku AKASAKI

Director, Audit and Supervisory Committee Member

Dec 2008 Completed Legal Training, Supreme Court of Japan; registered with Osaka Bar Association; joined Chuo Sogo Law Office Jun 2018 Admitted to the New York State Bar Jun 2022 Director, Audit and Supervisory Committee Member, the Company (current) Sep 2022 Outside Director (Nomination and Remuneration Committee Member), Smart Value Inc. (current) Apr 2025 Distinguished Professor, Kyoto University Law School (current)

1983-01-20

Tomoe FUJIWARA

Director, Audit and Supervisory Committee Member

Dec 2004 Joined Azusa Audit LLC (formerly Azusa Audit Corporation) Oct 2008 Registered as Certified Public Accountant Jul 2017 Established Tomoe Takayama CPA Office Aug 2017 Registered as Certified Tax Accountant Jun 2019 Outside Director, Inaba Denki Sangyo Co., Ltd. Jun 2020 Outside Director, Audit and Supervisory Committee Member, Inaba Denki Sangyo Co., Ltd. (current) Jun 2022 Director, Audit and Supervisory Committee Member, the Company (current)

1978-08-08

Large Shareholding Reports

Mitsu-Tsushin Co., Ltd.

2026-09-29

7.24%→7.24%

Koutsushin Co., Ltd.

2025-09-26

7.24%→7.24%

Koutsushin Co., Ltd.

2025-08-06

7.24%→7.24%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-11-10

Semi-Annual Securities Report

Period: Apr 2026 – Mar 2027

SPK CORPORATION

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SPK CORPORATION

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