Overview
Construction

KYOWANISSEI CO.,LTD.

Kyowa Nissei is a comprehensive facilities construction company primarily serving Tokyo Gas Group (Tokyo Gas Co., Ltd. and Tokyo Gas Network Co., Ltd.), providing gas equipment installation services (indoor piping, residential heating/cooling/hot water systems) and gas pipeline construction (main/branch pipe burial, supply pipe installation). The company also engages in building equipment construction (plumbing, sanitation, and HVAC systems for general buildings and apartment complexes) as well as electrical and civil engineering works (electrical conduit/tunnel burial, water/sewage infrastructure, and general civil construction). Its deep, long-standing relationship with Tokyo Gas Group constitutes a key competitive strength and provides stable order flow.

Market Cap
¥13.2B
US$83.9M
EV
¥-0.13B
-US$0.80M
Stock¥1,353▲+1.27%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
10.4
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-29.4%pt
100
Oct 27, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
13.2BUS$83.9MMarket Cap0.02BUS$0.15M+ Debt7.87BUS$50.2M− Cash5.43BUS$34.6M− Inv. Sec.-0.13B-US$0.80MEV
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Performance & Balance
Revenue 5Y (¥B)
34.2US$218M'22/334.5US$220M'23/335.9US$229M'24/337.4US$239M'25/339.4US$251M'26/3
EBITDA 5Y (¥B)
1.48US$9.42M'22/31.34US$8.58M'23/31.45US$9.25M'24/31.76US$11.2M'25/31.74US$11.1M'26/3
Net Income 5Y (¥B)
1.08US$6.87M'22/30.93US$5.95M'23/31.06US$6.77M'24/31.13US$7.23M'25/31.19US$7.61M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
10.8US$68.8M0.15US$0.93M'22/310.4US$66.6M0.04US$0.24M'23/311.2US$71.7M0.04US$0.25M'24/310.9US$69.4M0.04US$0.23M'25/312.4US$79.3M0.03US$0.17M'26/3
Shareholders
Top 10 hold 66.8%
1
Johoku Kogyo Co., Ltd.
22.63%
2
TOKYO GAS CO.,LTD.
8.85%
3
Aso Corporation
6.97%
4
Asahi Mutual Life Insurance Company
5.95%
5
NAGAWA CO.,Ltd
4.76%
6
Hiroshi FURUYA
3.82%
7
Alpharoad Co., Ltd.
3.76%
8
Custody Bank of Japan, Ltd. (Trust Account E)
3.48%
9
Masataka KITAMURA
3.39%
10
TODA CORPORATION
3.20%
Management
14 officers
Shigeru KAWANO
Representative Director, President and Executive Officer
Apr 1973 Joined the Company Jun 2001 General Manager, Gas Equipment Business Division Jun 2003 Executive Officer, General Manager, General Planning Office Jun 2005 Director, Managing Executive Officer, General Manager, Gas Equipment Business Headquarters Jun 2007 Managing Director, Managing Executive Officer, General Manager, Gas Equipment Business Headquarters; concurrently General Manager, ENESTA Business Headquarters Oct 2008 Director, Tokyo Gas Life Val Nishi-Musashi Co., Ltd. Jun 2013 Senior Managing Director, Senior Managing Executive Officer, General Manager, Sales Headquarters; concurrently General Manager, Gas Equipment Business Headquarters Apr 2017 Senior Managing Director, Senior Managing Executive Officer, General Manager, Gas Engineering Business Headquarters (in charge of Tokyo Gas Retailing Co., Ltd.) Apr 2019 Representative Director, President and Executive Officer (current)
1954-05-12
Hiroki FUKUSHIMA
Director, Senior Managing Executive Officer; in charge of Engineering Business Headquarters; concurrently in charge of General Facilities Business Headquarters
Mar 2006 Joined the Company Jun 2009 Executive Officer, Deputy General Manager, Corporate Planning Office Jun 2011 Executive Officer, General Manager, Electrical and Civil Engineering Department, Building and Civil Engineering Business Headquarters Jun 2013 Director, Executive Officer, General Manager, Electrical and Civil Engineering Department, Building and Civil Engineering Business Headquarters May 2016 Director, Executive Officer, Deputy General Manager, Sales Headquarters and Building and Civil Engineering Business Headquarters; concurrently General Manager, Electrical and Civil Engineering Department, Building and Civil Engineering Business Headquarters Jun 2019 Managing Director, Managing Executive Officer, General Manager, Engineering Business Headquarters; concurrently General Manager, Building Equipment Department, Engineering Business Headquarters Apr 2022 Managing Director, Managing Executive Officer, Officer in charge of Digital Innovation Promotion Office Jun 2023 Director, Senior Managing Executive Officer, Officer in charge of Digital Innovation Promotion Office; concurrently Officer in charge of Safety, Quality and Environment Office Apr 2025 Director, Senior Managing Executive Officer, Officer in charge of Digital Innovation Promotion Department and Audit Department; concurrently in charge of Audit Department (current) Apr 2026 Director, Senior Managing Executive Officer, Officer in charge of Audit Department, Engineering Business Headquarters and General Facilities Business Headquarters Jun 2026 Director, Senior Managing Executive Officer, Officer in charge of Engineering Business Headquarters; concurrently Officer in charge of General Facilities Business Headquarters (current)
1970-08-02
Hisao MORIKAWA
Director, Managing Executive Officer; in charge of Branch Operations Headquarters
Apr 1979 Joined the Company Jun 2013 Executive Officer, Head of Tokyo West Office, Gas Pipeline Business Headquarters Apr 2019 Executive Officer, General Manager, Gas Pipeline Department, Pipeline Business Headquarters Jun 2021 Director, Executive Officer, General Manager, Gas Pipeline Department, Pipeline Business Headquarters Apr 2022 Director, Executive Officer, Deputy General Manager, Pipeline Business Headquarters; concurrently General Manager, Gas Pipeline Department, Pipeline Business Headquarters Apr 2023 Director, Executive Officer, General Manager, Pipeline Business Headquarters Jun 2023 Director, Managing Executive Officer, General Manager, Pipeline Business Headquarters Apr 2026 Director, Managing Executive Officer, Officer in charge of Branch Operations Headquarters (current)
1961-03-11
Yasuhiko SASAKI
Director, Managing Executive Officer; in charge of Pipeline Business Headquarters
Apr 1983 Joined Tokyo Gas Co., Ltd. Apr 2020 Seconded to the Company; Executive Officer, Deputy General Manager, Engineering Business Headquarters Jun 2021 Director, Executive Officer, Deputy General Manager, Engineering Business Headquarters; concurrently General Manager, Gas Equipment Department, Engineering Business Headquarters Apr 2022 Director, Executive Officer, General Manager, Engineering Business Headquarters Jun 2023 Director, Managing Executive Officer, General Manager, Engineering Business Headquarters Apr 2026 Director, Managing Executive Officer, Officer in charge of Pipeline Business Headquarters (current)
1962-11-03
Hirotoshi MASUDA
Director, Managing Executive Officer; in charge of Digital Innovation Promotion Department, Planning Department and Accounting Department
Apr 1991 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) May 2021 Seconded to the Company Jun 2021 Executive Officer, General Manager, Accounting Department, Corporate Headquarters Apr 2022 Executive Officer, General Manager, Digital Innovation Promotion Office Jan 2023 Executive Officer, Deputy Officer in charge of Audit Office; concurrently Deputy Officer in charge of Planning Office Apr 2023 Executive Officer, Officer in charge of Audit Office; concurrently Officer in charge of Planning Office Jun 2023 Director, Managing Executive Officer, Officer in charge of Audit Office; concurrently Officer in charge of Planning Office Apr 2025 Director, Managing Executive Officer, Officer in charge of Planning Department; concurrently Officer in charge of Accounting Department Apr 2026 Director, Managing Executive Officer, Officer in charge of Digital Innovation Promotion Department, Planning Department and Accounting Department (current)
1968-04-24
Hiroyuki KATO
Director, Managing Executive Officer; in charge of General Affairs Department; concurrently in charge of Safety, Quality and Environment Department
Nov 1986 Joined the Company Oct 2008 Transferred to Tokyo Gas Life Val Nishi-Musashi Co., Ltd. Jun 2014 Executive Officer, General Manager, General Affairs Department, Tokyo Gas Life Val Nishi-Musashi Co., Ltd. Mar 2015 Director, Executive Officer, General Manager, Life Support Department, Tokyo Gas Life Val Nishi-Musashi Co., Ltd. Apr 2018 Joined the Company Apr 2019 General Manager, General Affairs Department, Corporate Headquarters Jun 2021 Executive Officer, General Manager, General Affairs Department, Corporate Headquarters Jun 2023 Director, Executive Officer, General Manager, General Affairs Department, Corporate Headquarters Apr 2025 Director, Executive Officer, Officer in charge of General Affairs Department; concurrently Officer in charge of Safety, Quality and Environment Department Jun 2025 Director, Managing Executive Officer, Officer in charge of General Affairs Department; concurrently Officer in charge of Safety, Quality and Environment Department (current)
1965-05-08
Naoto YASUDA
Director
Apr 1976 Joined Nippon Seika Co., Ltd. (now Regal Corporation) Jun 2010 Director, General Manager, Corporate Planning Office, Regal Corporation Jun 2013 Managing Director, General Manager, Administration Headquarters; concurrently General Manager, Corporate Planning Office, Regal Corporation Apr 2015 Managing Director, General Manager, Administration Headquarters, Regal Corporation Feb 2021 Managing Director, General Manager, Procurement Headquarters, Regal Corporation Apr 2022 Representative Director, President, Regal Corporation Jun 2023 Trustee, Tokyo Keizai University School Corporation Apr 2024 Chairman of the Board, Regal Corporation Jun 2025 Director, the Company (current)
1954-01-23
Masahiro SHIMOTORI
Director
Apr 1986 Joined Asahi Mutual Life Insurance Company Apr 2018 Executive Officer; in charge of Administrative Planning, Medical Affairs, Customer Service, Claims, Corporate Insurance and IT Planning Departments Apr 2021 Executive Officer; in charge of Risk Management and Compliance Departments Jul 2021 Director, Executive Officer; in charge of Risk Management and Compliance Departments Apr 2023 Director, Executive Officer; in charge of Risk Management and Compliance Departments, ESR Management Office Apr 2024 Director, Managing Executive Officer; in charge of General Affairs, Human Resources and HR & General Affairs Departments (current) Jun 2025 Director, the Company (current)
1964-03-21
Koichi FURUHIRA
Standing Audit & Supervisory Board Member
Apr 1980 Joined the Company Jan 2005 General Manager, Gas Equipment Department, Gas Equipment Business Headquarters Jun 2007 Executive Officer, General Manager, Gas Equipment Department, Gas Equipment Business Headquarters Apr 2017 Executive Officer, General Manager, Gas Pipeline Department, Gas Engineering Business Headquarters Jun 2017 Director, Executive Officer, General Manager, Gas Pipeline Department, Gas Engineering Business Headquarters Apr 2019 Director, Executive Officer, General Manager, Pipeline Business Headquarters Jun 2019 Managing Director, Managing Executive Officer, General Manager, Pipeline Business Headquarters Apr 2023 Managing Director, Assigned to the President Jun 2023 Standing Audit & Supervisory Board Member (current)
1957-12-03
Norihiro MORI
Standing Audit & Supervisory Board Member
Apr 1983 Joined Nissei Construction Co., Ltd. (renamed Nissei Co., Ltd. in Dec 1987) Jun 2011 General Manager, Accounting Department, Finance & Planning Headquarters, the Company Jun 2015 Executive Officer, General Manager, Accounting Department, Finance & Planning Headquarters Apr 2017 Executive Officer, General Manager, Administration Department, Corporate Headquarters Jun 2019 Director, Executive Officer, General Manager, Accounting Department, Corporate Headquarters Jul 2020 Director, Executive Officer, Deputy General Manager, Corporate Headquarters; concurrently General Manager, Accounting Department, Corporate Headquarters Apr 2021 Director, Executive Officer, General Manager, Corporate Headquarters; concurrently General Manager, Accounting Department, Corporate Headquarters Jun 2023 Director, Managing Executive Officer, General Manager, Corporate Headquarters Apr 2025 Director, Managing Executive Officer Jun 2025 Standing Audit & Supervisory Board Member (current)
1960-05-07
Akane TACHI
Audit & Supervisory Board Member
Oct 2003 Joined JA Amenity House Co., Ltd. Oct 2008 Joined Sakizaki Masashi Tax Accountant Office Apr 2009 Joined Yui Tax Accountant Office Feb 2012 Director, Yui Kikaku Co., Ltd. Aug 2013 Registered as Certified Tax Accountant Jun 2019 Audit & Supervisory Board Member, the Company (current) Jan 2022 Representative Partner, Yui Tax Accountant Corporation (current) Sep 2025 Outside Audit & Supervisory Board Member, Tokai Building Maintenance Co., Ltd. (current); Outside Audit & Supervisory Board Member, Sun Tokai Building Maintenance Co., Ltd. (current) Mar 2026 Outside Director (Audit and Supervisory Committee Member), Finedex Co., Ltd. (current)
1980-09-06
Akira YAMAUCHI
Audit & Supervisory Board Member
Apr 1982 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Jun 2010 Executive Officer, Kokusai Toshin Toshi Komon Co., Ltd. Jun 2012 Managing Director, Kokusai Toshin Toshi Komon Co., Ltd. Jul 2015 Managing Director, Mitsubishi UFJ Kokusai Asset Management Co., Ltd. Jun 2018 Managing Executive Officer, Mitsubishi UFJ Kokusai Asset Management Co., Ltd. Jun 2019 Director, Audit and Supervisory Committee Member (Full-time), Mitsubishi Kakoki Kaisha, Ltd. Jun 2023 Audit & Supervisory Board Member, the Company (current)
1959-05-14
Akihiro SAITO
Director, Executive Vice President and Executive Officer; in charge of Audit Department
Apr 1988 Joined Tokyo Gas Co., Ltd. Apr 2018 Executive Officer, General Manager, Living Planning Department, Living Service Headquarters Apr 2021 Managing Executive Officer, Corporate Headquarters Head, Pipeline Network Company Apr 2022 Managing Executive Officer, General Manager, Living Sales Headquarters, Customer & Business Solutions Company Apr 2023 Managing Executive Officer; in charge of Secretariat, General Affairs, Legal, Public Relations, Compliance and Audit Departments Apr 2024 Managing Executive Officer, CHRO; in charge of Human Resources, Secretariat, General Affairs, Legal, Compliance and Audit Departments Apr 2025 Managing Executive Officer, CHRO; in charge of Human Resources, Legal, Compliance and Audit Departments Apr 2026 Joined the Company; Manager, Audit Department Jun 2026 Director, Executive Vice President and Executive Officer, Officer in charge of Audit Department (current)
1966-01-05
Takayuki OKUYAMA
Director
Oct 2002 Registered as Attorney-at-law; Attorney-at-law, Yamane Law Office (current) Jun 2025 Director, the Company (current)
1976-12-07
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-06-30
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-06
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – 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
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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