Overview
Construction

TOTETSU KOGYO CO.,LTD.

Totetsu Kogyo is a general construction company specializing in civil engineering and building construction, with particular expertise in railway-related infrastructure. The company provides comprehensive services including planning, design, construction, and supervision for civil works and architectural projects, primarily serving East Japan Railway Company (JR East) as its major client. Additional business lines include commercial real estate leasing, power generation, greening/environmental projects, track maintenance machinery manufacturing (via subsidiary Totetsu Kiko Co., Ltd.), and railway-related product manufacturing and sales (via subsidiary Kowa Kasei Co., Ltd.).

Market Cap
¥137B
US$871M
EV
¥92.0B
US$587M
Stock¥3,965▼-0.38%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.5
x
LTM EV/EBIT
5.2
x
LTM PER
10.7
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-29.7%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 10, 26Q3 results disappointing, guidance cut
2Aug 7, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
137BUS$871MMarket Cap0.62BUS$3.94M+ Debt25.2BUS$161M− Cash21.3BUS$136M− Inv. Sec.1.34BUS$8.55M+ NCI92.0BUS$587MEV
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Performance & Balance
Revenue 5Y (¥B)
115US$732M'22/3125US$795M'23/3142US$905M'24/3160US$1.02B'25/3163US$1.04B'26/3
EBITDA 5Y (¥B)
9.19US$58.6M'22/311.4US$72.6M'23/314.4US$92.0M'24/318.3US$117M'25/320.6US$131M'26/3
Net Income 5Y (¥B)
5.33US$34.0M'22/37.91US$50.4M'23/38.30US$52.9M'24/311.6US$73.8M'25/312.8US$81.9M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
36.9US$236M0.87US$5.53M'22/325.8US$165M5.76US$36.7M'23/330.7US$196M10.7US$68.0M'24/330.8US$196M10.7US$68.0M'25/342.7US$273M20.6US$131M'26/3
Shareholders
Top 10 hold 55.4%
1
East Japan Railway Company
22.12%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.11%
3
Custody Bank of Japan, Ltd. (Trust Account)
8.29%
4
NIPPON DENSETSU KOGYO CO.,LTD.
3.15%
5
TOTETSU KOGYO CO.,LTD. Employee Stock Ownership Association
2.51%
6
Meiji Yasuda Life Insurance Company
2.12%
7
DAIICHI KENSETSU CORPORATION
1.59%
8
Nippon Life Insurance Company
1.56%
9
Mizuho Trust & Banking Co., Ltd.
1.52%
10
GECOSS CORPORATION
1.44%
Management
12 officers
Tadao MAEKAWA
Director, Chairman
Apr 1981 Joined Japanese National Railways Apr 1987 Joined East Japan Railway Company Jul 2005 General Manager, Facilities Department, Tokyo Branch Jun 2007 Deputy General Manager, Equipment Department, Railway Operations Headquarters Jun 2008 Department Manager (Special Assignment), Equipment Department, Railway Operations Headquarters Jun 2009 General Manager, Public Relations Department Jun 2012 Executive Officer, General Manager, General Affairs Department Jun 2015 Managing Executive Officer, Deputy Head, Railway Operations Headquarters Jun 2016 Managing Director, General Manager, Tokyo Branch Jun 2019 Representative Director, Executive Vice President, Head of Railway Operations Headquarters (retired Jun 2021) Jun 2021 Joined the Company; Representative Director, President and Executive Officer Jun 2025 Director, Chairman (current)
1955-12-06
Katsumi ISE
Representative Director, President and Executive Officer, President
Apr 1988 Joined East Japan Railway Company May 2015 Department Manager (Special Assignment), Equipment Department, Railway Operations Headquarters Jun 2015 Department Manager (Special Assignment), Investment Planning Department, General Planning Headquarters Jun 2015 Executive Officer, General Manager, Investment Planning Department, General Planning Headquarters Jun 2016 Executive Officer, General Manager, Equipment Department, Railway Operations Headquarters Jun 2018 Director of the Company (retired Jun 2018) Jun 2018 Managing Executive Officer, East Japan Railway Company; in charge of Reconstruction Planning Department, General Planning Headquarters, and Equipment Department, Railway Operations Headquarters Jun 2021 Representative Director, Executive Vice President, Head of Technology Innovation Promotion Headquarters Jun 2022 Representative Director, Executive Vice President, Head of Innovation Strategy Headquarters (retired Jun 2025) Jun 2025 Joined the Company; Representative Director, President and Executive Officer (current)
1965-02-12
Hiroyuki IIZUKA
Director, Managing Executive Officer, General Manager, Administration Division
Apr 1982 Joined the Company Dec 2005 Deputy General Manager, Human Resources Department, Administration Division Oct 2007 General Manager, General Affairs Department, Takasaki Branch Aug 2010 Department Manager (Special Assignment), Human Resources Department, Administration Division Jun 2012 General Manager, Human Resources Department, Administration Division Jun 2017 General Manager, Corporate Planning Department, Management Planning Division Jun 2019 Executive Officer, General Manager, Corporate Planning Department, Management Planning Division Jun 2021 Executive Officer, General Manager, Takasaki Branch Jun 2023 Executive Officer, Deputy General Manager, Administration Division Jun 2024 Director, Executive Officer, General Manager, Administration Division Jun 2025 Director, Managing Executive Officer, General Manager, Administration Division (current)
1964-03-11
Eiichi OGAWA
Director, Managing Executive Officer, General Manager, Construction Division, Deputy General Manager, DX Promotion Office
Apr 1981 Joined the Company Jun 2007 General Manager, Construction Works Department, Tokyo Construction Branch; Department Manager (Special Assignment), Construction Works Department Jun 2008 Department Manager (Special Assignment), Purchasing Department, Administration Division Sep 2010 General Manager, Construction Estimating Department, Construction Division Jan 2014 General Manager, Construction Department, Hachioji Branch; Department Manager (Special Assignment), Sales Department Jun 2017 General Manager, Construction Planning Department, Construction Division Jun 2019 Executive Officer, Deputy General Manager, Tokyo Construction Branch; General Manager, Construction Works Department Jan 2020 Executive Officer, Deputy General Manager, Tokyo Construction Branch; General Manager, Sales Department Jun 2020 Executive Officer, General Manager, Tokyo Construction Branch Jun 2023 Executive Officer, General Manager, Saitama Branch Jun 2025 Director, Managing Executive Officer, General Manager, Construction Division, Deputy General Manager, DX Promotion Office (current)
1962-09-22
Kiyotaka TAKAHASHI
Director (Part-time)
Apr 1980 Joined the National Police Agency Aug 2002 Chief, Okinawa Prefectural Police Aug 2004 Director, Security Division, Security Bureau, National Police Agency Aug 2007 Chief, Hokkaido Prefectural Police Aug 2008 Director, Security Department, Metropolitan Police Department Sep 2009 Councillor, Cabinet Secretariat; Deputy Director-General for Crisis Management; Deputy Director, National Information Security Center Aug 2011 Deputy Commissioner General, Metropolitan Police Department Jan 2013 Director-General, Security Bureau, National Police Agency Aug 2015 Commissioner General, Metropolitan Police Department Sep 2016 Deputy Chief Cabinet Secretary for Crisis Management (retired Apr 2019) Dec 2020 Advisor, Nippon Steel Corporation (current) Jun 2025 Director of the Company (current)
1957-03-10
Hiroshi NAKAYAMA
Director (Part-time)
Apr 1977 Joined Hitachi, Ltd. Sep 2003 Deputy Plant Manager, Hitachi Works, Power and Industrial Systems Group Apr 2008 Plant Manager, Kasado Works, Electrical Systems Group Apr 2011 President, Transportation Systems Division Apr 2012 Executive Managing Director, President, Transportation Systems Division, Infrastructure Systems Group Apr 2014 Executive Managing Director, Manufacturing and Quality Assurance Officer Apr 2016 Executive Managing Director, Manufacturing and Quality Assurance Officer; General Manager, Manufacturing Strategy Headquarters Apr 2017 Advisor, Hitachi Power Solutions Co., Ltd. Apr 2019 Special Advisor Jun 2019 Director of the Company (current) Apr 2020 Senior Advisor, Hitachi Power Solutions Co., Ltd. Apr 2021 Advisor, Quality Assurance Headquarters, Quality Assurance Division, Hitachi, Ltd. (retired Mar 2025)
1953-12-15
Miya FUKAYAMA
Director (Part-time)
Oct 2002 Appointed Public Prosecutor (Tokyo District Public Prosecutors Office) Jul 2013 General Manager, Compliance Office, INCJ, Ltd. Jul 2016 Retired as Public Prosecutor Jul 2016 Registered as Attorney-at-Law, Japan Federation of Bar Associations (Dai-Ichi Tokyo Bar Association); City-Yuwa Partners (current) Apr 2018 Member of the Council, Dai-Ichi Tokyo Bar Association Apr 2020 Deputy Chair, Gender Equality Committee, Kanto Bar Association Jun 2020 Auditor, General Incorporated Foundation Japan International Cooperation System (current) Jun 2021 Director of the Company (current)
1972-06-13
Takehiro TAMAGAWA
Director (Part-time)
Apr 1992 Joined East Japan Railway Company Jun 2007 Section Manager, Track Maintenance Section, Equipment Department, Yokohama Branch May 2008 Section Manager, Equipment Department, Railway Operations Headquarters Jul 2011 Section Manager (Special Assignment), General Affairs Department, Chiba Branch Jun 2014 General Manager, Equipment Department, Omiya Branch Jun 2016 Deputy General Manager, Equipment Department, Railway Operations Headquarters Jun 2017 Department Manager (Special Assignment), Equipment Department, Railway Operations Headquarters Jun 2021 Executive Officer, General Manager, Equipment Department, Railway Operations Headquarters; Director of the Company (current) Jun 2022 Executive Officer, Head of Equipment Division, Railway Operations Headquarters, East Japan Railway Company Jun 2023 Managing Executive Officer, Deputy Head, Railway Operations Headquarters; Head of Equipment Division Jun 2024 Managing Executive Officer, Deputy Head, Railway Operations Headquarters (current)
1968-07-30
Masafumi NAKAMURA
Director
Apr 1986 Joined Fuji Bank, Ltd. Apr 2008 Kitazawa Branch Manager, Mizuho Bank, Ltd. Apr 2010 General Manager, Business Solutions Department, Mizuho Bank, Ltd. Jul 2013 General Manager, Group Planning Management Department, Mizuho Financial Group, Inc.; General Manager, Administration Department, Mizuho Bank, Ltd. Jul 2017 Joined the Company; Executive Officer, General Manager, Construction Sales Department, Construction Division Jun 2019 Executive Officer, Deputy General Manager, Management Planning Division; General Manager, General Affairs Department Jun 2022 Managing Executive Officer, General Manager, Business Improvement Promotion Headquarters; Deputy General Manager, Corporate Planning Headquarters; Deputy General Manager, Administration Division Jun 2025 Managing Executive Officer, General Manager, Business Improvement Promotion Headquarters; Deputy General Manager, Corporate Planning Headquarters; General Manager, DX Promotion Office (current)
Makoto NIIZUMA
Full-time Corporate Auditor
Apr 1991 Joined the Company Jul 2006 Deputy General Manager, Finance Department, Management Planning Division Oct 2008 Deputy General Manager, Accounting Department, Management Planning Division Jun 2010 Department Manager (Special Assignment), General Affairs Department, Tokyo Civil Engineering Branch May 2011 General Manager, General Affairs Department, Tokyo Track Branch Jun 2011 General Manager, General Affairs Department; General Manager, Quality Control Department, Tokyo Track Branch Jul 2013 General Manager, Public Relations and IR Department, Management Planning Division Jun 2020 Executive Officer, General Manager, Public Relations and IR Department, Management Planning Division Jun 2021 Executive Officer, General Manager, Corporate Planning Department, Management Planning Division Jun 2022 Executive Officer, General Manager, Internal Control Office Jun 2024 Full-time Corporate Auditor (current)
1964-07-26
Takako ISHIKAWA
Full-time Corporate Auditor
Apr 1992 Joined Nomura Securities Co., Ltd. (resigned Jul 1995) Oct 2003 Joined Asahi Audit Corporation (now Ernst & Young ShinNihon LLC) Mar 2008 Registered as Certified Public Accountant Aug 2020 Left Ernst & Young ShinNihon LLC Sep 2020 Joined Mazars Audit Corporation (now Forvis Mazars Japan LLC) Sep 2023 Senior Manager, Forvis Mazars Japan LLC (left Jun 2025) Jun 2025 Full-time Corporate Auditor of the Company (current)
1970-01-11
Iwao MATSUI
Corporate Auditor
Apr 1980 Appointed Public Prosecutor (Tokyo District Public Prosecutors Office) Apr 1990 Public Prosecutor, Tokyo District Public Prosecutors Office (Special Investigation Department) Jan 2005 Director, Special Trial Department, Tokyo District Public Prosecutors Office Oct 2010 Deputy Chief Public Prosecutor, Osaka High Public Prosecutors Office Jun 2012 Director, Criminal Affairs Department, Supreme Public Prosecutors Office Jan 2014 Chief Public Prosecutor, Yokohama District Public Prosecutors Office Jan 2015 Chief Public Prosecutor, Fukuoka High Public Prosecutors Office Sep 2016 Retired as Public Prosecutor Nov 2016 Registered as Attorney-at-Law, Japan Federation of Bar Associations (Tokyo Bar Association); Yaesu Sogo Law Office (now Shin-Marunouchi Sogo Law Office) (current) Jun 2018 Outside Corporate Auditor of the Company (current)
1953-12-13
Large Shareholding Reports
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2026-09-04
4.06%→3.23%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
4.07%→4.06%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-04
5.04%→4.07%
East Japan Railway Company
2025-08-19
18.56%→21.16%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 22.12%
East Japan Railway Company
2025-08-18
18.56%→21.16%
Annual report (as of 2026-03-31): 22.12%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-04
Large Shareholding Report
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-11
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-06-02
株主総会招集通知
TDnet
2026-02-09
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-04
Large Shareholding Report
EDINETAmended
2025-08-19
Change Report
EDINET
2025-08-18
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-07
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-08
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-09
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-09
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-08
Quarterly Securities Report
EDINET
2021-11-10
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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