Overview
Construction

Shin Nippon Air Technologies Co.,Ltd.

Shin Nippon Air Technologies is a specialized mechanical and electrical engineering contractor focused on the design, supervision, and construction of HVAC, air-conditioning, ventilation, clean room, plumbing, sanitary, and electrical facility systems across a wide range of building and industrial applications. The company serves diverse end markets including commercial buildings, industrial facilities, healthcare, and semiconductor/electronics manufacturing environments. Its competitive strengths lie in deep technical expertise cultivated since 1930 (when its predecessor introduced Carrier technology to Japan), proprietary clean room and environmental control capabilities, and an established presence across Japan and key Asian markets including China, Singapore, Sri Lanka, Vietnam, and Hong Kong.

Market Cap
¥134B
US$855M
EV
¥86.3B
US$550M
Stock¥2,948▼-0.74%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.8
x
LTM EV/EBIT
6.1
x
LTM PER
10.1
x
LTM PBR
1.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-23.8%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 13, 26Profit-taking on high valuation concerns
2Aug 7, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
134BUS$855MMarket Cap2.58BUS$16.4M+ Debt18.7BUS$119M− Cash31.6BUS$202M− Inv. Sec.86.3BUS$550MEV
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Performance & Balance
Revenue 5Y (¥B)
107US$681M'22/3112US$716M'23/3128US$816M'24/3138US$878M'25/3155US$988M'26/3
EBITDA 5Y (¥B)
7.35US$46.9M'22/37.57US$48.3M'23/39.74US$62.1M'24/312.0US$76.6M'25/315.8US$101M'26/3
Net Income 5Y (¥B)
5.40US$34.5M'22/35.60US$35.7M'23/37.17US$45.7M'24/39.66US$61.6M'25/312.2US$77.5M'26/3
Capital Structure
97%
EquityD/E 0.03xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
36.8US$235M4.21US$26.9M'22/347.0US$300M3.73US$23.8M'23/340.9US$261M9.96US$63.5M'24/342.7US$272M3.86US$24.6M'25/352.9US$337M2.82US$18.0M'26/3
Shareholders
Top 10 hold 40.9%
1
Shin Nippon Kucho Kyowakai
8.44%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
7.30%
3
Shin Nippon Air Technologies Co.,Ltd. Employee Stock Ownership Association
4.88%
4
Custody Bank of Japan, Ltd. (Trust Account)
3.62%
5
Sumitomo Mitsui Banking Corporation
3.55%
6
NIPPON DENSETSU KOGYO CO.,LTD.
3.34%
7
TOSHIBA CORPORATION
2.76%
8
Sumitomo Mitsui Trust Bank, Limited
2.64%
9
Mitsui Fudosan Co.,Ltd.
2.20%
10
MITSUI & CO.,LTD.
2.20%
Management
10 officers
Hiroshi NATSUI
Director, Chairman of the Board
Apr 1979 Joined the Company Apr 2005 Executive Officer, General Manager, Renewal Business Division, Metropolitan Area Business Headquarters Apr 2006 Senior Executive Officer, General Manager, Renewal Business Division, Metropolitan Area Business Headquarters Jun 2006 Director, Senior Executive Officer, General Manager, Renewal Business Division, Metropolitan Area Business Headquarters Apr 2008 Director, Senior Executive Officer, General Manager, Business Promotion Headquarters Jun 2008 Managing Director, Managing Executive Officer, General Manager, Business Promotion Headquarters Jun 2010 Senior Managing Director, Senior Managing Executive Officer, General Manager, Business Promotion Headquarters Apr 2011 Senior Managing Director, Senior Managing Executive Officer, General Manager, Metropolitan Area Business Headquarters Apr 2013 Senior Managing Director, Senior Managing Executive Officer, General Manager, Sales Headquarters Jun 2013 Director, Vice President, General Manager, Sales Headquarters Apr 2014 Director, Vice President Jun 2014 Representative Director, President Jun 2021 Representative Director, Chairman Jun 2024 Director, Chairman of the Board (current)
1950-11-04
Masanori HIROSHIMA
Representative Director, President, in charge of Corporate Planning
Apr 1990 Joined the Company Apr 2016 General Manager, Facility Solutions Center, Metropolitan Area Business Headquarters Apr 2019 Deputy General Manager, Business Promotion Headquarters Apr 2021 General Manager, Digital Promotion Office Apr 2022 Executive Officer, General Manager, Technology Headquarters Apr 2023 Senior Executive Officer, General Manager, Technology Headquarters Jun 2023 Director, Senior Executive Officer, General Manager, Technology Headquarters Apr 2024 Representative Director, President, in charge of Corporate Planning (current)
1967-09-14
Masaki ITO
Director, Senior Managing Executive Officer, in charge of Technology
Apr 1990 Joined the Company Apr 2011 Deputy Branch Manager, Osaka Branch Apr 2014 Executive Officer, Branch Manager, Osaka Branch Apr 2018 Senior Executive Officer, Head of Industrial Facilities Business Department, Metropolitan Area Business Headquarters Apr 2019 Senior Executive Officer, Deputy General Manager and Head of Industrial Facilities Business Department, Metropolitan Area Business Headquarters Apr 2020 Senior Executive Officer, General Manager, Metropolitan Area Business Headquarters Jun 2020 Director, Senior Executive Officer, General Manager, Metropolitan Area Business Headquarters Jun 2022 Director, Managing Executive Officer, General Manager, Metropolitan Area Business Headquarters Apr 2024 Director, Senior Managing Executive Officer, General Manager, Technology Headquarters Apr 2026 Director, Senior Managing Executive Officer, in charge of Technology (current)
1959-10-30
Satoshi INOUE
Director, Managing Executive Officer, General Manager, Administration Headquarters
Apr 1987 Joined the Company Apr 2012 General Manager, Personnel Department, Administration Headquarters Apr 2015 Deputy General Manager and General Manager, Personnel Department, Administration Headquarters Oct 2018 Deputy General Manager, Administration Headquarters Apr 2019 Executive Officer, General Manager, Administration Headquarters Apr 2021 Senior Executive Officer, General Manager, Administration Headquarters Jun 2021 Director, Senior Executive Officer, General Manager, Administration Headquarters Apr 2026 Director, Managing Executive Officer, General Manager, Administration Headquarters (current)
1964-10-28
Hidekatsu NODA
Director, Managing Executive Officer, General Manager, Sales Headquarters
Apr 1987 Joined the Company Apr 2010 General Manager, Sales Department No. 2, Municipal Facilities Business Division, Urban Facilities and Renewal Business Headquarters Apr 2012 General Manager, Sales Department No. 1, Municipal Facilities Business Department, Metropolitan Area Business Headquarters Oct 2014 Deputy General Manager and General Manager, Sales Department No. 1, Municipal Facilities Business Department, Metropolitan Area Business Headquarters Apr 2020 Executive Officer, Deputy General Manager, Metropolitan Area Business Headquarters Apr 2022 Executive Officer, General Manager, Sales Headquarters Apr 2023 Senior Executive Officer, General Manager, Sales Headquarters Jun 2023 Director, Senior Executive Officer, General Manager, Sales Headquarters Apr 2026 Director, Managing Executive Officer, General Manager, Sales Headquarters (current)
1964-08-20
Kenichi MURANAKA
Director
Apr 1982 Joined the Ministry of Finance Jul 2008 Commissioner, Sendai Regional Taxation Bureau Jul 2009 Executive Director, Post Office Savings and Postal Life Insurance Management Organization (Independent Administrative Institution) Jul 2010 Branch Director, Tokyo Branch, Japan Mint (Independent Administrative Institution) Jul 2015 Commissioner, Yokohama Customs Jun 2016 Retired from the Ministry of Finance Jan 2017 Advisor, Mitsubishi Hitachi Power Systems, Ltd. Nov 2017 Advisor, Glory Ltd. Apr 2018 Representative Director, President, Nihon Kessai Joho Center Co., Ltd. Jun 2025 Director of the Company (current)
1959-02-09
Toshihiko MORIMOTO
Director, Audit and Supervisory Committee Member (Full-time)
Jul 1983 Joined the Company Jun 2010 General Manager, Accounting Department, Administration Headquarters Oct 2014 Deputy General Manager, Overseas Business Headquarters Dec 2016 General Manager, Internal Control Department Apr 2020 Executive Officer, General Manager, Internal Control Department Jul 2020 Executive Officer, Head of Audit and Supervisory Committee Office Jun 2021 Director, Audit and Supervisory Committee Member (current)
1960-09-17
Yasushi MIZUNO
Director, Audit and Supervisory Committee Member
Apr 1996 Registered as Attorney-at-Law; joined Endo & Yorozuba Law Office (now Fairness Law Office) Oct 2004 Partner, Fairness Law Office (current) Jun 2017 Director of the Company Jun 2020 Director, Audit and Supervisory Committee Member of the Company (current)
1971-01-24
Yumiko UMEHARA
Director, Audit and Supervisory Committee Member
Sep 2000 Joined IBM Japan, Ltd. Apr 2004 Visiting Researcher, Institute for Environment and Energy Policy (NPO) Apr 2006 Founder and Director, Value Frontier Co., Ltd. Apr 2015 Founder and Director, Satoyama Energy Co., Ltd. (current) Apr 2019 Representative Director, Value Frontier Co., Ltd. (current) Jun 2021 Director, Audit and Supervisory Committee Member of the Company (current)
1973-12-31
Akiko NARIAI
Director, Audit and Supervisory Committee Member
Apr 1986 Joined Tokyo Regional Taxation Bureau Jul 2019 Commissioner, Koto Tax Office Jul 2020 General Manager, Investigation Division No. 4 Investigation Summary Section, Tokyo Regional Taxation Bureau Jul 2021 Director, Comprehensive Education Department, National Tax College Jul 2022 Commissioner, Shinjuku Tax Office Sep 2023 Registered as Certified Tax Accountant; opened Akiko Nariai Tax Accountant Office (current) Jun 2024 Director, Audit and Supervisory Committee Member of the Company (current) Jun 2024 Audit & Supervisory Board Member, Nihon Kagaku Sangyo Co., Ltd. (current) Jun 2025 Director, Kenko Mayonnaise Co., Ltd. (current)
1963-03-29
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-18
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-16
Q3 Earnings Flash
FY ending Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-07-01
Amended Securities Registration Statement
EDINET
2025-06-27
Securities Registration Statement
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-06-24
Amended Securities Registration Statement
EDINETAmended
2024-06-24
Amended Securities Registration Statement
EDINET
2024-06-21
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-21
Securities Registration Statement
EDINET
2024-06-21
Securities Registration Statement
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
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-03-07
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-08-15
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-09
Quarterly Securities Report
EDINET
2021-11-10
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-28
Annual Securities Report
EDINET
2021-02-09
Quarterly Securities Report
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