Overview
Marine Transportation

TAMAI STEAMSHIP CO.,LTD

Tamai Kisen Co., Ltd. is a Japanese shipping company engaged in ocean-going and domestic coastal shipping, primarily transporting aluminum hydroxide for Nippon Light Metal Co., Ltd., as well as grains for Zen-Noh and slag for overseas customers. The company operates a fleet of vessels through long-term chartered ships from its Liberia-based subsidiary T.S. Central Shipping Co., Ltd., supplemented by short-term market charters. In addition to its core shipping operations, the company conducts real estate leasing through its subsidiary Motoyama Pinecrest Co., Ltd.

Market Cap
¥5.32B
US$33.9M
EV
¥4.15B
US$26.4M
Stock¥3,475▼-0.71%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
2.1
x
LTM EV/EBIT
3.7
x
LTM PER
4.6
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.9%pt
10012345
Oct 23, 25 – Oct 23, 26StockTOPIX
1Oct 29, 25Hibiki Path Advisors Pte. Ltd. changed stake (6.35%→7.49%)
2Nov 20, 25Q3 earnings: operating loss ¥330M, guidance cut
3Dec 18, 25Hibiki Path Advisors Pte. Ltd. changed stake (7.49%→8.53%)
4Jan 22, 26Hibiki Path Advisors Pte. Ltd. changed stake (8.53%→0.0%)
5Mar 24, 26Off-market share buyback (ToSTNeT-3) result disclosed
MC → EV Bridge
5.32BUS$33.9MMarket Cap2.09BUS$13.3M+ Debt2.36BUS$15.0M− Cash0.95BUS$6.02M− Inv. Sec.0.05BUS$0.30M+ NCI4.15BUS$26.4MEV
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Performance & Balance
Revenue 5Y (¥B)
6.73US$42.9M'22/37.31US$46.5M'23/36.22US$39.6M'24/35.39US$34.3M'25/35.12US$32.6M'26/3
EBITDA 5Y (¥B)
2.38US$15.2M'22/32.16US$13.7M'23/31.70US$10.8M'24/31.63US$10.4M'25/31.43US$9.13M'26/3
Net Income 5Y (¥B)
1.19US$7.58M'22/30.82US$5.22M'23/30.73US$4.65M'24/32.10US$13.3M'25/30.77US$4.93M'26/3
Capital Structure
79%
21%
EquityD/E 0.26xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
3.31US$21.1M3.99US$25.4M'22/32.31US$14.7M2.50US$15.9M'23/33.66US$23.3M2.65US$16.9M'24/35.31US$33.8M1.51US$9.64M'25/32.94US$18.7M2.17US$13.8M'26/3
Shareholders
Top 10 hold 48.3%
1
Nippon Light Metal Co., Ltd.
12.86%
2
Nihon Gasline Co., Ltd.
7.75%
3
INTERACTIVE BROKERS LLC
7.56%
4
Yukinori OSAKO
3.78%
5
Masahiro NISHI
3.40%
6
PBG CLIENTS SG
3.09%
7
Nomura Securities Co., Ltd.
2.81%
8
Inui Global Logistics Co.,Ltd.
2.65%
9
SUN YOU NING
2.29%
10
Taiyo Sangyo Boeki Co., Ltd.
2.12%
Management
11 officers
Tetsuya KIYOSAKI
Representative Director, President
Oct 1973 Joined the Company Apr 2005 General Manager, Marine Affairs Department Jun 2012 Director; concurrently General Manager, Marine Affairs Department Mar 2013 Representative Director, President, Daiyon Marine Co., Ltd.; Director, T.S. Central Shipping Co., Ltd. Apr 2013 Director; concurrently General Manager, Marine Affairs Department and Head of Coastal Tanker Safety Management Office Jun 2023 Managing Director; concurrently General Manager, Marine Affairs Department, Head of Coastal Tanker Safety Management Office, Head of Internal Control Office, and Chairperson of Sustainability Committee Jun 2024 Representative Director, President (current)
1952-09-16
Kazunari MATSUMOTO
Director, in charge of Vessel Department
Jun 1991 Joined Daido Kisen Co., Ltd. (now Tamai Shosen Co., Ltd.) Mar 2013 Director, Daiyon Marine Co., Ltd. Apr 2013 General Manager, Coastal Division No. 2 Jan 2015 General Manager, Coastal Sales Department Jun 2022 Director; concurrently General Manager, Coastal Sales Department Jun 2024 Representative Director, President, Daiyon Marine Co., Ltd. (current) Jun 2024 Director; concurrently General Manager, Coastal Sales Department, in charge of Accounting Department Apr 2026 Director, in charge of Vessel Department and Accounting Department Jun 2026 Director, in charge of Vessel Department (current)
1964-08-11
Hitoshi NAGAI
Director, in charge of Sales Department
Apr 1995 Joined Daido Kisen Co., Ltd. (now Tamai Shosen Co., Ltd.) Apr 2022 General Manager, Overseas Sales Department Jun 2024 Director and President, T.S. Central Shipping Co., Ltd. (current) Jun 2024 Director; concurrently General Manager, Overseas Sales Department Apr 2025 Director, in charge of Overseas Sales Department Apr 2026 Representative Director, President, Motoyama Pinecrest Co., Ltd. Apr 2026 Director, in charge of Sales Department (current)
1970-08-21
Daisuke IKENO
Director, General Manager, Accounting Department
Nov 2005 Joined the Company Jun 2022 Director, Daiyon Marine Co., Ltd. (current) Apr 2025 General Manager, Accounting Department Jun 2026 Director, General Manager, Accounting Department (scheduled to assume office)
1980-05-02
Yasuhiro MURAMATSU
Director
Mar 2001 Joined Nihon Gasline Co., Ltd. Apr 2016 Executive Officer, Nihon Gasline Co., Ltd. Jul 2017 Director, Nihon Gasline Co., Ltd. Apr 2019 Managing Director, Nihon Gasline Co., Ltd. Apr 2020 Representative Director, President, Nihon Gasline Co., Ltd. (current) Jun 2026 Outside Director of the Company (scheduled to assume office)
1977-05-27
Yutaka TAMAI
Director
Apr 2011 Representative Director, President, Shin-Kobe Dock Co., Ltd. (current) Jun 2014 Outside Audit & Supervisory Board Member of the Company Jun 2014 Outside Audit & Supervisory Board Member, Motoyama Pinecrest Co., Ltd. (current) Jun 2017 Outside Director of the Company (current)
1961-09-01
Teruyuki SAGO
Director
Sep 2003 Registered with Tokyo Bar Association (to present); joined Okabe, Yamaguchi, Aizawa & Totsuka Law Office Jan 2011 Partner, Okabe & Yamaguchi Law Office Apr 2014 Visiting Professor, Law School, Dalian Maritime University (current) Apr 2016 Part-time Lecturer, Graduate School of Law, Waseda University Jul 2022 Representative Attorney, Sago General Law Office Sep 2022 Part-time Lecturer, Graduate School of Law, Waseda University (current) Jun 2023 Outside Director of the Company (current) Apr 2025 Representative Attorney, Sago & Akatsuka Law Office (current)
1969-06-07
Mitsuyoshi GOTO
Full-time Audit & Supervisory Board Member
Apr 1983 Joined Nikkei Kako Co., Ltd. (now Nippon Light Metal Co., Ltd.) May 2010 General Manager, Osaka Branch, Chemical Products Division, Nippon Light Metal Co., Ltd. Jun 2014 General Manager, Nagoya Branch, Chemical Products Division, Nippon Light Metal Co., Ltd. (concurrently until Jul 2017) Jul 2020 Retired from Nippon Light Metal Co., Ltd. Jul 2020 Outside Audit & Supervisory Board Member of the Company (current)
1959-04-19
Shuji YAMAGUCHI
Audit & Supervisory Board Member
Apr 1982 Registered with Kobe Bar Association Apr 1987 Joined Clyde & Co. Law Office May 1988 Registered with First Tokyo Bar Association (to present) Sep 1990 Established Okabe & Yamaguchi Law Office (to present) Mar 2000 Outside Audit & Supervisory Board Member, Zaine Electronics Co., Ltd. Jun 2004 Outside Audit & Supervisory Board Member of the Company (current) Jan 2010 Representative, Okabe & Yamaguchi Law Office Jun 2014 Outside Audit & Supervisory Board Member, Sumitomo Warehouse Co., Ltd. Mar 2016 Outside Director (Audit and Supervisory Committee Member), Zaine Electronics Co., Ltd. (current) Jun 2017 Outside Director, Sumitomo Warehouse Co., Ltd. (current) Apr 2022 Visiting Professor, Chuo University Law School (current) Apr 2022 Temporary Member, Subcommittee on Commercial Law (Electronization of Bills of Lading, etc.), Legislative Council Jul 2022 Representative Attorney, Yamaguchi General Law Office May 2024 Auditor, Lion Dental Hygiene Research Foundation (current) Jul 2024 Representative Attorney, Okabe & Yamaguchi Law Firm (current)
1956-12-27
Ken KINOSHITA
Director
Apr 1991 Joined Nippon Light Metal Co., Ltd. Apr 2012 General Manager, Alumina Department, Chemical Products Division, Nippon Light Metal Co., Ltd. Jun 2021 Executive Officer and General Manager, Chemical Products Division, Nippon Light Metal Co., Ltd. Jun 2024 Outside Director of the Company (current) Jun 2024 Executive Officer and Head of Chemical Products Business Group, Nippon Light Metal Holdings Company, Ltd. Apr 2026 Senior Executive Officer and Head of Chemical Products Business Group, Nippon Light Metal Holdings Company, Ltd. (current) Senior Executive Officer, in charge of Chemical Products Division, Nippon Light Metal Co., Ltd. (current)
1965-04-14
Kotaro IDE
Audit & Supervisory Board Member
Dec 2004 Joined Shin Nihon & Co. (now EY ShinNihon LLC) Jul 2009 Registered as Certified Public Accountant (to present) Sep 2022 Established Kotaro Ide CPA Office; Head of Office (current) Jun 2026 Outside Audit & Supervisory Board Member of the Company (scheduled to assume office)
1978-12-21
Large Shareholding Reports
Global Management Partners Limited
2026-09-01
7.15%→8.21%
Global Management Partners Limited
2026-07-23
6.13%→7.15%
Global Management Partners Limited
2026-06-15
5.06%→6.13%
Global Management Partners Limited
2026-04-23
5.06%
Aioi Nissay Dowa Insurance Co., Ltd.
2026-04-06
4.92%→0.00%
Nippon Gasline Co., Ltd.
2026-04-01
6.14%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 7.75%
Fuel Co., Ltd.
2026-03-31
5.01%→0.00%
Hibiki Path Advisors SPC
2026-03-31
8.95%→1.50%
Nippon Gasline Co., Ltd.
2026-03-31
6.14%
Annual report (as of 2026-03-31): 7.75%
Sun You Ning
2026-03-30
—
Sun You Ning
2026-03-27
11.01%→1.81%
Fuel Co., Ltd.
2026-03-25
5.01%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Fuel Co., Ltd.
2026-02-10
5.01%
Hibiki Path Advisors SPC
2026-01-22
8.95%
Hibiki Path Advisors Pte. Ltd.
2026-01-22
8.53%→0.00%
You Ning SUN
2025-12-24
10.88%→11.01%
Hibiki Path Advisors Pte. Ltd.
2025-12-18
7.49%→8.53%
Hibiki Path Advisors Pte. Ltd.
2025-11-04
6.35%→7.49%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Hibiki Path Advisors Pte. Ltd.
2025-10-29
6.35%→7.49%
Hibiki Path Advisors Pte. Ltd.
2025-10-03
5.09%→6.35%
Hibiki Path Advisors Pte. Ltd.
2025-09-19
5.09%
ISC Co., Ltd.
2025-09-04
2.89%→2.22%
ISC Co., Ltd.
2025-09-03
3.32%→2.89%
Correction filing (name/detail fix only) — ratio carried over from the original filing
ISC Co., Ltd.
2025-09-02
3.32%→2.89%
Benedict Beh Wei Hao
2025-09-02
5.38%→4.25%
Benedict Beh Wei Hao
2025-08-20
6.40%→5.38%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-01
Large Shareholding Report
TDnet
2026-08-05
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-06-15
Large Shareholding Report
EDINET
2026-06-08
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-23
Large Shareholding Report
EDINET
2026-04-06
Large Shareholding Report
EDINETAmended
2026-04-01
Change Report
EDINET
2026-03-31
Large Shareholding Report
EDINET
2026-03-31
Large Shareholding Report
EDINET
2026-03-31
Large Shareholding Report
EDINETAmended
2026-03-30
Change Report
EDINET
2026-03-27
Large Shareholding Report
EDINETAmended
2026-03-25
Change Report
EDINET
2026-02-10
Large Shareholding Report
TDnet
2026-02-05
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-22
Large Shareholding Report
EDINET
2026-01-22
Large Shareholding Report
EDINET
2025-12-24
Large Shareholding Report
EDINET
2025-12-18
Large Shareholding Report
EDINET
2025-11-06
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2025-11-04
Change Report
EDINET
2025-10-29
Large Shareholding Report
EDINET
2025-10-03
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-04
Large Shareholding Report
EDINETAmended
2025-09-03
Change Report
EDINET
2025-09-02
Large Shareholding Report
EDINET
2025-09-02
Large Shareholding Report
EDINET
2025-08-20
Large Shareholding Report
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