Overview
Construction

SANTO CORPORATION

Santo Kogyo is a Shiga Prefecture-based general contractor engaged in three core segments: civil engineering (including river improvement, sewage, road, and pavement works), building construction (offices, warehouses, hotels, schools, and hospitals), and environmental development (land development, real estate leasing, and CLT timber construction). The company differentiates itself through proprietary underground technologies such as the JST ground improvement method, TRD continuous underground wall method, and SPR pipeline rehabilitation method, for which it holds five patents. As the only listed construction company in Shiga Prefecture among 11 listed firms, it serves primarily public-sector clients and private developers in the Kinki region.

Market Cap
¥2.54B
US$16.2M
EV
¥-0.59B
-US$3.75M
Stock¥4,050▼-1.22%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
8.6
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-31.3%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 12, 26MBO price lowered to 2600 yen announcement
2Mar 6, 26Activist proposal adopted at shareholder meeting
MC → EV Bridge
2.54BUS$16.2MMarket Cap0.04BUS$0.29M+ Debt2.70BUS$17.2M− Cash0.53BUS$3.35M− Inv. Sec.0.05BUS$0.33M+ NCI-0.59B-US$3.75MEV
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Performance & Balance
Revenue 5Y (¥B)
6.75US$43.1M'22/66.92US$44.1M'23/67.40US$47.2M'24/68.20US$52.3M'25/610.4US$66.2M'26/6
EBITDA 5Y (¥B)
0.31US$1.98M'22/60.41US$2.60M'23/60.26US$1.65M'24/60.39US$2.52M'25/60.52US$3.35M'26/6
Net Income 5Y (¥B)
0.19US$1.19M'22/60.23US$1.43M'23/60.13US$0.84M'24/60.23US$1.47M'25/60.30US$1.88M'26/6
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.51US$16.0M'22/62.46US$15.7M0.02US$0.11M'23/61.84US$11.7M0.04US$0.26M'24/61.74US$11.1M0.04US$0.28M'25/63.22US$20.6M0.04US$0.29M'26/6
Shareholders
Top 10 hold 47.1%
1
Higashi Bussan Co., Ltd.
14.05%
2
SANTO CORPORATION Employee Stock Ownership Association
5.37%
3
Toru NAKAGAWA
5.22%
4
THE SHIGA BANK,LTD.
4.47%
5
SANTO CORPORATION Stock Ownership Association
3.86%
6
Katsumi OKUDA
3.24%
7
Kazutaka HIGASHI
2.89%
8
Chiaki NAKAGAWA
2.81%
9
Toji ONISHI
2.63%
10
Taiyo Kisokogyo Co.,Ltd.
2.55%
Management
7 officers
Katsumi OKUDA
Representative Director, Chairman
Apr 1977 Joined the Company Aug 2004 General Manager, Sales Department, the Company Sep 2005 Director, General Manager of Sales Division, the Company Sep 2007 Representative Director, President and General Manager of Sales, the Company Sep 2009 Representative Director, President, the Company Jun 2022 Chairman, Shiga Prefecture Construction Industry Association (General Incorporated Association) Apr 2023 Representative Director, President, Ambienta Co., Ltd. (current) Jul 2025 Representative Director, Chairman, the Company (current) Aug 2025 Director, Furusawa Kensetsu Co., Ltd. (current)
1949-12-11
Shukei SUGIMOTO
Representative Director, President
Apr 1996 Joined the Company Nov 2020 General Manager, Head Office Construction Department and Head Office Branch Manager, Civil Engineering Division, the Company Sep 2022 Deputy Head, Civil Engineering Division and Executive Officer, the Company Nov 2022 Director, Furusawa Kensetsu Co., Ltd. Jul 2023 Executive Officer, General Manager of Administration Division and General Manager of General Planning Office, the Company Sep 2023 Director, Executive Officer, General Manager of Administration Division and General Manager of General Planning Office, the Company Jul 2024 Director, Executive Officer, General Manager of Administration Division, the Company Jul 2025 Representative Director, President, the Company (current) Aug 2025 Director, Ambienta Co., Ltd. (current)
1973-11-18
Kazuaki FURUSAWA
Director
Apr 1988 Joined Daikin Industries, Ltd. Mar 1991 Joined Murakami-gumi Co., Ltd. Nov 1994 Joined Sosei Construction Co., Ltd. May 1996 Established Furusawa Kensetsu May 2001 Representative Director, President, Furusawa Kensetsu Co., Ltd. Sep 2016 Representative Director, President, Furusawa Kensetsu Co., Ltd. (current) Sep 2024 Director, the Company (current)
1969-02-09
Hozumi TSUDA
Director
Apr 1991 Joined Kobe Kenametal Co., Ltd. Oct 1996 Joined Chuo Audit Corporation Jul 2004 Established Tsuda Certified Public Accountant Office, Head (current) Sep 2004 Outside Audit and Supervisory Board Member, the Company Jun 2005 Outside Audit and Supervisory Board Member, Kyoto Kikai Kogu Co., Ltd. Jun 2015 Outside Director, Kyoto Kikai Kogu Co., Ltd. Sep 2016 Outside Director (Audit and Supervisory Committee Member), the Company Jun 2017 Outside Director (Audit and Supervisory Committee Member), Kyoto Kikai Kogu Co., Ltd. Apr 2023 Audit and Supervisory Board Member, Ambienta Co., Ltd. (current) Aug 2024 Audit and Supervisory Board Member, Furusawa Kensetsu Co., Ltd. Sep 2026 Director, the Company (current)
1968-10-09
Noriaki HOSOKAWA
Director (Audit and Supervisory Committee Member)
Apr 1976 Joined Sanko Construction Co., Ltd. Jul 1985 Joined the Company Apr 2008 General Manager, Sales Department, the Company Sep 2016 Director, General Manager of Sales Department, the Company Sep 2016 Director, Furusawa Kensetsu Co., Ltd. Apr 2017 Managing Director, the Company Jun 2019 Senior Managing Director, the Company Sep 2019 Representative Director, Senior Managing Director, the Company Sep 2020 Representative Director, Senior Managing Executive Officer, the Company Oct 2023 Special Advisor, the Company Sep 2024 Director (Audit and Supervisory Committee Member), the Company (current)
1957-09-03
Mamiko NISHIKAWA
Director (Audit and Supervisory Committee Member)
Apr 2000 Completed training at the Legal Training and Research Institute Oct 2001 Registered as attorney-at-law (Osaka Bar Association), Shinsaibashi Sogo Law Office Sep 2008 Transferred registration to Shiga Bar Association, Hazaoka Law Office Apr 2012 Vice President, Shiga Bar Association Jan 2016 Opened Sumire Law Office (current) Apr 2017 Vice President, Shiga Bar Association Apr 2017 Managing Director, Kinki Federation of Bar Associations Apr 2019 Vice President, Shiga Bar Association Apr 2020 President, Shiga Bar Association Apr 2020 Managing Director, Kinki Federation of Bar Associations Apr 2020 Director, Japan Federation of Bar Associations Sep 2024 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1975-07-17
Yuzo TAKASAKA
Director (Audit and Supervisory Committee Member)
Apr 1975 Joined Yoshitada Mannequin Co., Ltd. Nov 1975 Joined Shiga Prefecture Construction Industry Association (Incorporated Association) May 2006 Managing Director, Shiga Prefecture Construction Industry Association (Incorporated Association) Jun 2006 Member, Shiga Prefecture Environmental Council May 2008 Director, Shiga Prefecture Security Industry Association (General Incorporated Association) Nov 2021 Member, Shiga Prefecture Contract Review Council May 2026 Advisor, Shiga Prefecture Construction Industry Association (General Incorporated Association) (current) Sep 2026 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1952-08-12
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-28
Annual Securities Report
Period: Jul 2025 – Jun 2026
EDINETAmended
2026-09-18
Amended Annual Securities Report
Period: Jul 2023 – Jun 2024
EDINETAmended
2026-09-18
Amended Annual Securities Report
Period: Jul 2022 – Jun 2023
EDINETAmended
2026-09-18
Amended Annual Securities Report
Period: Jul 2020 – Jun 2021
EDINETAmended
2026-09-18
Amended Annual Securities Report
Period: Jul 2021 – Jun 2022
EDINETAmended
2026-09-18
Amended Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2026-05-13
Q3 Earnings Flash
EDINET
2026-02-13
Semi-Annual Securities Report
Period: Jul 2025 – Jun 2026
TDnet
2025-11-12
Q1 Earnings Flash
EDINET
2025-09-29
Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2025-05-07
Q3 Earnings Flash
EDINET
2025-02-14
Semi-Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2024-12-02
Q1 Earnings Flash
TDnet
2024-11-07
Q1 Earnings Flash
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
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-09-25
Annual Securities Report
Period: Jul 2022 – Jun 2023
EDINET
2023-05-12
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
2022-09-26
Annual Securities Report
EDINETAmended
2022-06-17
Amended Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-09-27
Annual Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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