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Overview

Construction

KANDENKO CO.,LTD.

Kandenko Co., Ltd. is one of Japan's leading integrated electrical and mechanical construction companies, primarily engaged in the design, installation, and maintenance of electrical, air-conditioning, and other building facilities infrastructure. The company serves a broad range of clients including utilities, commercial real estate, industrial facilities, and public infrastructure, with a particularly strong relationship as a preferred contractor for the Tokyo Electric Power (TEPCO) group. In addition to its core construction business, the company operates complementary businesses including electrical equipment sales, real estate, leasing, and renewable energy power generation (wind, solar, and biomass).

Market Cap

¥1,012B

US$6.45B

¥867B

US$5.53B

Stock¥5,085▼-0.37%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

9.0

LTM EV/EBIT

10.0

LTM PER

15.8

LTM PBR

2.6

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-9.3%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Oct 29, 25TEPCO announces KANDENKO stake sale (¥150B)

2Mar 9, 26Market-wide: Global selloff on expanded Trump tariff fears

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

96%

EquityD/E 0.05xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 57.9%

as of 2026-03-31 · Source: Annual Securities Report

TEPCO Power Grid, Incorporated

34.46%

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

8.08%

Custody Bank of Japan, Ltd. (Trust Account)

5.40%

STATE STREET BANK AND TRUSTCOMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)

2.64%

KANDENKO CO.,LTD. Employee Stock Ownership Association

2.54%

THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)

1.06%

Morgan Stanley MUFG Securities Co., Ltd.

1.02%

JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)

0.90%

CACEIS BANK,LUXEMBOURG BRANCH / UCITS - FULL TAX (Standing Proxy: Citibank, N.A., Tokyo Branch)

0.88%

JPMorgan Securities Japan Co., Ltd.

0.87%

Management

15 officers

Seiichi FUMIBASAMI

Representative Director, Chairman

Jun 2017 Tokyo Electric Power Holdings, Inc., Representative Executive Vice President (until Jun 2022) Jun 2019 Tokyo Electric Power Holdings, Inc., Director (until Jun 2022) Apr 2020 TEPCO Renewable Power, Inc., Representative Director, President (until Mar 2022) Jun 2022 Kandenko Co., Ltd., Joined; Advisor Jun 2023 Kandenko Co., Ltd., Representative Director, Chairman Sep 2024 Japan Electrical Construction Association, Chairman (current)

1960-07-25

Hirofumi TAMOGAMI

Representative Director, President and Executive Officer

Apr 1986 Kandenko Co., Ltd., Joined Jul 2020 Kandenko Co., Ltd., Managing Executive Officer; General Manager, East Kanto Sales Headquarters; concurrently General Manager, Chiba Branch Jun 2023 Kandenko Co., Ltd., Director, Managing Executive Officer Jun 2024 Kandenko Co., Ltd., Director, Senior Managing Executive Officer Apr 2025 Kandenko Co., Ltd., Representative Director, President and Executive Officer

1963-12-13

Nobuhiro IIDA

Representative Director, Executive Vice President and Executive Officer, General Manager, Sales Coordination Headquarters

Apr 1985 Kandenko Co., Ltd., Joined Oct 2018 Kandenko Co., Ltd., Managing Executive Officer; General Manager, South Kanto and Tokai Sales Headquarters; concurrently General Manager, Kanagawa Branch Jun 2020 Kandenko Co., Ltd., Director, Managing Executive Officer Jun 2022 Kandenko Co., Ltd., Director, Executive Vice President and Executive Officer Jun 2023 Kandenko Co., Ltd., Representative Director, Executive Vice President and Executive Officer Apr 2026 Kandenko Co., Ltd., Representative Director, Executive Vice President and Executive Officer; General Manager, Sales Coordination Headquarters

1961-11-30

Hiroyuki ENOKI

Director, Senior Managing Executive Officer, General Manager, Social Infrastructure Coordination Headquarters

Apr 1986 Kandenko Co., Ltd., Joined Apr 2023 Kandenko Co., Ltd., Managing Executive Officer; General Manager, Social Infrastructure Coordination Headquarters Jun 2023 Kandenko Co., Ltd., Director, Senior Managing Executive Officer Apr 2026 Kandenko Co., Ltd., Director, Senior Managing Executive Officer; General Manager, Social Infrastructure Coordination Headquarters

1963-01-09

Koichi NAKAHITO

Director, Senior Managing Executive Officer, General Manager, Green Innovation Headquarters; Acting General Manager, Social Infrastructure Coordination Headquarters

Apr 2018 Tokyo Electric Power Grid, Inc., General Manager, Tokyo Branch Office Oct 2020 Kandenko Co., Ltd., Joined; Managing Executive Officer; Deputy General Manager, Social Infrastructure Coordination Headquarters; concurrently Deputy General Manager, Strategic Technology Development Headquarters Jun 2021 Kandenko Co., Ltd., Director, Managing Executive Officer Apr 2026 Kandenko Co., Ltd., Director, Senior Managing Executive Officer; General Manager, Green Innovation Headquarters; concurrently Acting General Manager, Social Infrastructure Coordination Headquarters

1963-11-06

Ken TAKEUCHI

Director, Managing Executive Officer, General Manager, North Kanto Sales Headquarters; General Manager, Saitama Branch

Apr 1991 Kandenko Co., Ltd., Joined Jul 2024 Kandenko Co., Ltd., Managing Executive Officer; General Manager, North Kanto and Hokushinetsu Sales Headquarters; concurrently General Manager, Saitama Branch Jun 2025 Kandenko Co., Ltd., Director, Managing Executive Officer Apr 2026 Kandenko Co., Ltd., Director, Managing Executive Officer; General Manager, North Kanto Sales Headquarters; concurrently General Manager, Saitama Branch

1967-04-24

Shoichiro KASHIWARA

Full-time Audit & Supervisory Board Member, Chairman of the Audit & Supervisory Board

Apr 1981 Kandenko Co., Ltd., Joined Oct 2014 Kandenko Co., Ltd., Senior Executive Officer; in charge of Corporate Planning, General Affairs and Labor Jun 2015 Kandenko Co., Ltd., Director, Managing Executive Officer Jun 2016 Kandenko Co., Ltd., Director, Senior Managing Executive Officer Jun 2017 Kandenko Co., Ltd., Representative Director, Executive Vice President Oct 2018 Kandenko Co., Ltd., Representative Director, Executive Vice President and Executive Officer Jun 2023 Kandenko Co., Ltd., Full-time Audit & Supervisory Board Member

1958-12-14

Naoki NAKAMURA

Full-time Audit & Supervisory Board Member

Apr 1988 Kandenko Co., Ltd., Joined Jul 2015 Kandenko Co., Ltd., General Manager, Underground Distribution Department, Distribution Headquarters Jul 2018 Kandenko Co., Ltd., Executive Officer; General Manager, Underground Distribution Department, Distribution Headquarters Oct 2018 Kandenko Co., Ltd., Executive Officer; General Manager, Tama Branch, West Kanto Sales Headquarters Jul 2022 Kandenko Co., Ltd., Managing Executive Officer; General Manager, West Kanto Sales Headquarters; concurrently General Manager, Tama Branch Jun 2023 Kandenko Co., Ltd., Managing Executive Officer; General Manager, East Kanto Sales Headquarters; concurrently General Manager, Chiba Branch Apr 2026 Kandenko Co., Ltd., Managing Executive Officer; assigned to Audit & Supervisory Board Members' Office Jun 2026 Kandenko Co., Ltd., Full-time Audit & Supervisory Board Member

1964-03-21

Miwa SUDO

Director

Apr 1988 Hakuhodo Inc., Joined (until Apr 1990) Oct 1991 Arthur Andersen (now Azsa LLC), Joined (until Aug 1996) Apr 1995 Certified Public Accountant registration (current) Oct 1996 Schroder PTV Partners K.K. (now MKS Partners K.K.), Joined (until Oct 1997) Jan 2001 Bain & Company, Partner (until Mar 2006) Apr 2006 Planet Plan Inc., Representative Director (current) Mar 2018 ASICS Corporation, Outside Audit & Supervisory Board Member (until Mar 2020) Apr 2019 Keio University Graduate School of Media and Governance, Project Professor (until Mar 2024) Mar 2020 ASICS Corporation, Outside Director (Audit and Supervisory Committee Member) (until Mar 2024) Jun 2021 Katitas Co., Ltd., Outside Director (scheduled to continue) Mar 2023 KOSE Corporation (now KOSE Holdings Corporation), Outside Director (current) Jun 2023 Kandenko Co., Ltd., Director Mar 2024 ASICS Corporation, Outside Director (current)

1963-08-17

Takaaki KATO

Director

Apr 1980 Fuji Bank, Ltd., Joined Mar 2005 Mizuho Corporate Bank, Ltd., General Manager, Hong Kong Branch Apr 2008 Mizuho Securities Co., Ltd., Executive Officer Apr 2009 Mizuho Securities Co., Ltd., Managing Executive Officer Apr 2011 Mizuho Securities Co., Ltd., Managing Executive Officer; concurrently Chairman, Mizuho Securities Asia Apr 2013 KYB Corporation (now Kayaba Corporation), Managing Executive Officer; Deputy General Manager, Accounting Headquarters Jun 2014 KYB Corporation (now Kayaba Corporation), Managing Executive Officer; General Manager, Accounting Headquarters Apr 2015 KYB Corporation (now Kayaba Corporation), Senior Managing Executive Officer; General Manager, Accounting Headquarters Jun 2015 KYB Corporation (now Kayaba Corporation), Director, Senior Managing Executive Officer; in charge of Audit and CSR; General Manager, Accounting Headquarters; concurrently General Manager, Corporate Planning Headquarters Apr 2016 KYB Corporation (now Kayaba Corporation), Director, Senior Managing Executive Officer; in charge of Global Finance; General Manager, Accounting Headquarters Apr 2017 KYB Corporation (now Kayaba Corporation), Director, Senior Managing Executive Officer; in charge of Global Finance Jun 2017 KYB Corporation (now Kayaba Corporation), Representative Director, Executive Vice President and Executive Officer; in charge of Global Finance Jun 2023 Kayaba Corporation, Senior Advisor (until Jun 2025) Jun 2024 Nichirei Corporation, Outside Audit & Supervisory Board Member (current) Jun 2024 Kandenko Co., Ltd., Director

1957-06-12

Mika NARAHASHI

Director

Oct 2000 Admitted as attorney-at-law (current) Oct 2000 Matsuo Sogo Law Office, Joined Jul 2002 Yanagida International Law Office, Joined Aug 2003 Anderson Mori & Tomotsune, Joined (until Dec 2006) Nov 2006 Taisei Kiso Sekkei Co., Ltd. (now Asano Taisei Kiso Engineering Co., Ltd.), Outside Audit & Supervisory Board Member (until Nov 2007) Jan 2007 Deutsche Securities Inc., Vice President Aug 2009 American Life Insurance Company (now MetLife Insurance K.K.), Senior Manager, Legal Department Jan 2015 AIG American Home Medical & Casualty Insurance Co., Ltd., Head of Legal (until Jan 2016) Apr 2017 TH Sogo Law Office, Partner Attorney (current) Jun 2018 Chiyoda Corporation, Outside Director (Audit and Supervisory Committee Member) (until Jul 2024) Jun 2025 Kandenko Co., Ltd., Director Nov 2025 Japan Excellent Investment Corporation, Supervisory Officer (current)

1972-06-03

Takayuki KONNO

Director

Apr 1984 Toshiba Corporation, Joined Apr 2016 Toshiba Corporation, General Manager, Social Systems Business Unit Jul 2017 Toshiba Infrastructure Systems & Solutions Corporation, General Manager, Social Systems Business Unit Jun 2018 Toshiba Infrastructure Systems & Solutions Corporation, Director, Managing Officer; General Manager, Social Systems Business Unit Apr 2019 Toshiba Corporation, Executive Officer, Senior Managing Officer Apr 2019 Toshiba Infrastructure Systems & Solutions Corporation, Representative Director, President (until Dec 2023) Apr 2021 Toshiba Corporation, Representative Executive Officer, Senior Executive Vice President (until Dec 2023) Jun 2026 Kandenko Co., Ltd., Director

1961-10-01

Takashi SUENAGA

Audit & Supervisory Board Member

Aug 2004 Deputy Commissioner General, Metropolitan Police Department Sep 2005 Grand Chamberlain, Imperial Household Agency Apr 2009 Ambassador Extraordinary and Plenipotentiary to the Grand Duchy of Luxembourg (resident) Jun 2012 Retired from Ministry of Foreign Affairs Jun 2013 Marubeni Corporation, Outside Audit & Supervisory Board Member (until Jun 2017) Jun 2015 Totetsu Kogyo Co., Ltd., Outside Director (until Jun 2025) Jun 2016 Keihin Electric Express Railway Co., Ltd., Outside Audit & Supervisory Board Member (until Jun 2025) Jun 2016 JCR Pharmaceuticals Co., Ltd., Outside Audit & Supervisory Board Member Jun 2016 Kandenko Co., Ltd., Audit & Supervisory Board Member Jun 2017 JCR Pharmaceuticals Co., Ltd., Outside Director (scheduled to continue) Jun 2018 Aioi Nissay Dowa Insurance Co., Ltd., Outside Audit & Supervisory Board Member (until Jun 2022) Jun 2025 Keihin Electric Express Railway Co., Ltd., Outside Director (Audit and Supervisory Committee Member) (scheduled to continue)

1949-03-08

Nozomu KANO

Audit & Supervisory Board Member

Apr 1979 Japan Development Bank, Joined Oct 2008 Development Bank of Japan, Managing Executive Officer (General Manager, Kansai Branch) Jun 2010 Development Bank of Japan, Managing Executive Officer Jun 2012 Fuji Oil Co., Ltd., Managing Director Jun 2017 Fuji Oil Co., Ltd., Senior Managing Director Jun 2019 ANA Holdings Inc., Outside Audit & Supervisory Board Member (full-time) (until Jun 2025) Jun 2024 Kandenko Co., Ltd., Audit & Supervisory Board Member

1955-04-27

Kazuyuki SHIOKAWA

Audit & Supervisory Board Member

Apr 1982 Tokyo Electric Power Company, Incorporated, Joined Jun 2012 Tokyo Electric Power Company, Incorporated, General Manager, Technical Department Jun 2013 Tokyo Electric Power Company, Incorporated, General Manager, Saitama Branch Jun 2014 Tokyo Electric Power Company, Incorporated, Executive Officer, Vice President, Power Grid Company Apr 2016 Tokyo Electric Power Grid, Inc., Chief Technical Officer Oct 2020 Tokyo Power Technology Ltd., Representative Director, President Jun 2025 Kandenko Co., Ltd., Audit & Supervisory Board Member

1959-06-15

Large Shareholding Reports

Capital Research and Management Company

2026-10-07

6.81%

TEPCO Power Grid, Inc.

2026-04-03

46.16%→43.63%

Correction filing (name/detail fix only) — ratio carried over from the original filing