Overview
Fishery, Agriculture and Forestry

Hokuryo Co.,Ltd.

Hokuryou Co., Ltd. is a vertically integrated egg producer based in Hokkaido, Japan, engaged in the production and sale of table eggs (shell eggs, liquid eggs, and specialty eggs) under its own brands such as 'PG Tama Morning' and 'Salad Kibun,' as well as OEM private-label products for retailers. The company controls the entire value chain from chick rearing through layer farming, grading/packing (GP factories with FSSC22000 certification), and direct sales to supermarkets, food service operators (hotels, restaurants, bakeries), primarily in Hokkaido (approx. 2.3 million laying hens, ~50% share of Hokkaido prefectural flock) and the Tohoku region. Key competitive strengths include windless biosecure housing, Salmonella vaccination programs, all-vegetable proprietary feed, HACCP-based quality management, a 96% direct-sales ratio within Hokkaido, and exports to the Hong Kong market commenced in 2021.

Market Cap
¥18.0B
US$115M
EV
¥13.1B
US$83.4M
Stock¥2,125▲+0.05%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.2
x
LTM EV/EBIT
2.7
x
LTM PER
4.9
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-43.6%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
18.0BUS$115MMarket Cap1.06BUS$6.79M+ Debt5.35BUS$34.1M− Cash0.61BUS$3.88M− Inv. Sec.13.1BUS$83.4MEV
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Performance & Balance
Revenue 5Y (¥B)
15.4US$98.0M'22/317.8US$114M'23/318.9US$121M'24/319.4US$124M'25/323.1US$147M'26/3
EBITDA 5Y (¥B)
1.71US$10.9M'22/32.46US$15.7M'23/33.28US$20.9M'24/33.05US$19.5M'25/36.13US$39.1M'26/3
Net Income 5Y (¥B)
1.19US$7.60M'22/30.75US$4.75M'23/31.66US$10.6M'24/32.18US$13.9M'25/33.86US$24.6M'26/3
Capital Structure
94%
EquityD/E 0.06xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.32US$14.8M2.22US$14.2M'22/32.96US$18.9M2.33US$14.9M'23/34.45US$28.3M1.78US$11.3M'24/34.72US$30.1M1.45US$9.26M'25/37.93US$50.6M1.13US$7.23M'26/3
Shareholders
Top 10 hold 60.7%
1
Cocorico Co., Ltd.
42.04%
2
Jumonji Chicken Company Ltd.
4.97%
3
Keiko YONEYAMA
3.12%
4
Daisuke YONEYAMA
2.63%
5
The Hokkaido Bank, Ltd.
2.01%
6
The Hokuriku Bank, Ltd.
1.56%
7
North Pacific Bank,Ltd.
1.56%
8
Takashi TOMARU
0.99%
9
Daiwa Securities Co. Ltd.
0.96%
10
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
0.89%
Management
9 officers
Daisuke YONEYAMA
Representative Director, Chairman and CEO
Jun 1981 Joined Hokkaido Electric Power Co., Inc. Oct 1993 Resigned from Hokkaido Electric Power Co., Inc. Nov 1993 Joined the Company Oct 1994 Director, General Manager of Business Development Department, Sales Headquarters Sep 1996 Managing Director Nov 2001 Representative Director, Executive Vice President Nov 2001 Director and President, Hokuryo Chikusan Co., Ltd. Nov 2003 Representative Director, President of the Company Jun 2026 Representative Director, Chairman and CEO of the Company (current)
1958-07-20
Masaya MATSUOKA
Director, Vice Chairman, Head of Planning Headquarters
Apr 1981 Joined Mitsui & Co., Ltd. Mar 1998 General Manager, Food Department, New York Head Office, Mitsui & Co. (U.S.A.), Inc. Aug 2009 Seconded to Nippon Formula Feed Manufacturing Co., Ltd. (currently Feedone Co., Ltd.) as Managing Executive Officer, General Manager of Administration Headquarters Apr 2013 Assistant General Manager, Food Division Headquarters, Mitsui & Co., Ltd. Apr 2015 Managing Officer, Assistant General Manager, Food Division Headquarters, Mitsui & Co., Ltd. Mar 2019 Resigned from Mitsui & Co., Ltd. Apr 2019 Joined the Company, in charge of planning Jun 2019 Director Jun 2020 Managing Director, General Manager of Planning Department Jun 2022 Senior Managing Director Apr 2024 Senior Managing Director, Head of Planning Headquarters Jun 2026 Director, Vice Chairman and Head of Planning Headquarters of the Company (current)
1959-02-07
Shinichi KATSUBE
Representative Director, President and COO, Head of Sales Headquarters
Apr 1993 Joined Mitsui & Co., Ltd. Jun 2009 Seconded to Nippon Formula Feed Manufacturing Co., Ltd. (currently Feedone Co., Ltd.) Jun 2011 General Manager, Food Department, Mitsui & Co. (Taiwan), Ltd. Jun 2016 Head of Marine Products Office, Livestock and Marine Products Division, Mitsui & Co., Ltd. Jun 2019 General Manager, Food Department, Mitsui & Co. (Shanghai), Ltd. Jan 2021 General Manager, East Asia Food Commodities Division, Mitsui & Co., Ltd. Jun 2025 Resigned from Mitsui & Co., Ltd. Jun 2025 Director of the Company Jun 2026 Representative Director, President and COO, Head of Sales Headquarters of the Company (current)
1968-06-07
Seiji YAMAKADO
Director, Head of Administration Headquarters
Apr 1987 Joined Hokkaido Bank, Ltd. Jun 2008 General Manager, Head Office Sales Department, Hokkaido Bank, Ltd. Apr 2014 Manager, Hakodate Ekimae Branch, Hokkaido Bank, Ltd. Jun 2016 General Manager, Sales Promotion Department, Hokkaido Bank, Ltd. Jun 2018 Manager, Sapporo Ekimae Branch, Hokkaido Bank, Ltd. Feb 2022 Resigned from Hokkaido Bank, Ltd. Apr 2024 Joined the Company, Deputy General Manager of Administration Headquarters Jun 2024 Director, Head of Administration Headquarters of the Company (current)
1964-10-01
Naoko HIASA
Director
Apr 1978 Joined Hokkaido Shimbun Press Co., Ltd. Mar 2001 Deputy General Manager, Political and Economic Department, Tokyo Bureau, Hokkaido Shimbun Press Co., Ltd. Jul 2005 General Manager, Muroran Bureau, News Department, Hokkaido Shimbun Press Co., Ltd. Jul 2007 General Manager, Culture Department, Editorial Division, Hokkaido Shimbun Press Co., Ltd. Mar 2009 General Manager, Lifestyle Department, Editorial Division, Hokkaido Shimbun Press Co., Ltd. Jul 2011 General Manager, Marketing Center, Hokkaido Shimbun Press Co., Ltd. Jul 2014 Bureau Chief, Obihiro Bureau, Hokkaido Shimbun Press Co., Ltd. Jun 2016 President, Doshin Culture Center Co., Ltd. Jun 2018 Full-time Corporate Auditor, Hokkaido Shimbun Press Co., Ltd. Jun 2022 Retired from Hokkaido Shimbun Press Co., Ltd.; Outside Director of the Company (current) Mar 2023 Outside Director, Nakamichi Lease Co., Ltd. (current) Mar 2024 Outside Director, Hokkaido Coca-Cola Bottling Co., Ltd. (current)
1955-07-28
Toshiaki TSUCHIYA
Director
Apr 1980 Joined Hokkaido Prefectural Government Apr 2007 Senior Specialist, Agricultural Policy Division, Department of Agricultural Policy, Hokkaido Prefectural Government Jun 2015 Director-General, Department of Agricultural Policy, Hokkaido Prefectural Government Mar 2017 Retired from Hokkaido Prefectural Government; General Manager, Industrial Strategy Department, Hokkaido Bank, Ltd. Jun 2019 Retired from Hokkaido Bank, Ltd.; Vice Governor of Hokkaido Mar 2024 Retired as Vice Governor of Hokkaido Jun 2024 Chairman of the Board, Dobank Regional Research Institute Co., Ltd. (current) Sep 2024 Trustee, Hakko Gakuen Educational Corporation (current) Jun 2025 Outside Director of the Company (current)
1957-09-05
Yutaka SAITO
Full-time Corporate Auditor
Apr 1982 Joined Nomura Real Estate Co., Ltd. Apr 1992 Chief, General Affairs, Sapporo Branch, Nomura Real Estate Co., Ltd. Apr 2010 Deputy General Manager, Osaka Branch, Nomura Real Estate Co., Ltd. Apr 2015 Executive Officer, Nomura Real Estate Urban Net Co., Ltd. Apr 2021 Corporate Auditor, Nomura Real Estate Solutions Co., Ltd. Jun 2025 Resigned from Nomura Real Estate Solutions Co., Ltd. Jun 2026 Full-time Corporate Auditor of the Company (current)
1963-05-03
Takuya OKAZAKI
Corporate Auditor
Oct 2003 Completed the Legal Training and Research Institute Oct 2003 Joined Tanaka Toshishige Law Office Jul 2011 Opened Okazaki Takuya Law Office (current) Nov 2013 Outside Corporate Auditor of the Company (current) Jun 2016 Outside Director (Audit and Supervisory Committee Member), Furutec Co., Ltd. (current) Aug 2021 Outside Director (Audit and Supervisory Committee Member), Tsuruha Holdings Inc. (current)
1977-09-12
Ken SUZUKI
Corporate Auditor
Apr 1994 Joined Hokkaido Electric Power Co., Inc. Nov 2021 Resigned from Hokkaido Electric Power Co., Inc. Feb 2022 Opened Ken Suzuki Certified Small and Medium Enterprise Management Consultant Office (current) Apr 2023 SME Advisor, Organization for Small & Medium Enterprises and Regional Innovation, Japan (current) Jun 2026 Outside Corporate Auditor of the Company (current)
1970-07-07
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-13
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-13
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
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
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-24
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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