Overview
Foods

Nippon Beet Sugar Manufacturing Co.,Ltd.

Nippon Beet Sugar Manufacturing is a Hokkaido-based diversified agri-food company primarily engaged in the production and sale of beet sugar (domestically grown sugar beet) and refined sugar, alongside food ingredients including yeast, oligosaccharides, and betaine. The company also operates in compound feed, agricultural materials (paper tube seedling pots, seeds, and agricultural machinery), real estate, and logistics through its private railway and trucking subsidiary. Its vertically integrated operations in Hokkaido's Tokachi region, spanning raw material procurement through distribution, underpin its competitive position in the domestic beet sugar market.

Market Cap
¥65.8B
US$419M
EV
¥33.6B
US$214M
Stock¥1,863▲+1.75%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
12.5
x
LTM EV/EBIT
87.5
x
LTM PER
12.7
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+64.1%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
65.8BUS$419MMarket Cap0.01BUS$0.05M+ Debt5.32BUS$33.9M− Cash26.9BUS$171M− Inv. Sec.33.6BUS$214MEV
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Performance & Balance
Revenue 5Y (¥B)
58.5US$373M'22/365.0US$415M'23/369.3US$442M'24/364.8US$413M'25/368.7US$438M'26/3
EBITDA 5Y (¥B)
4.64US$29.6M'22/33.89US$24.8M'23/33.53US$22.5M'24/33.05US$19.4M'25/32.36US$15.1M'26/3
Net Income 5Y (¥B)
1.98US$12.6M'22/31.26US$8.04M'23/31.81US$11.5M'24/32.70US$17.2M'25/35.03US$32.1M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
26.0US$166M14.9US$95.0M'22/324.1US$154M18.8US$120M'23/330.8US$196M10.9US$69.8M'24/328.6US$183M9.06US$57.8M'25/326.8US$171M1.52US$9.66M'26/3
Shareholders
Top 10 hold 46.7%
1
Meiji Holdings Co.,Ltd.
8.22%
2
Nitten Kyoei-kai
7.98%
3
ESG Investment Limited Partnership
7.03%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
6.01%
5
The Norinchukin Bank
4.26%
6
Tokio Marine & Nichido Fire Insurance Co., Ltd.
3.54%
7
Mizuho Bank, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
2.94%
8
NIPPON EXPRESS HOLDINGS,INC.
2.65%
9
Mitsui DM Sugar Co.,Ltd.
2.19%
10
Stock Ownership Association
1.93%
Management
12 officers
Hide ISHIGURI
Representative Director, President
Apr 1986 Joined the Company Apr 2010 Manager, Food Business Division Apr 2012 General Manager, Food Business Division Jun 2014 General Manager, Technology Department and Quality Assurance Department Jun 2016 Appointed Director; Manager, Bihoro Sugar Factory Jun 2018 General Manager, Corporate Planning Office; General Manager, Affiliated Companies Jun 2020 Appointed Managing Executive Officer Apr 2021 In charge of Capital and Business Alliance Promotion Jun 2022 Appointed Representative Director (current) Appointed Director, President (current) Appointed President and Executive Officer In charge of Corporate Planning Office
1958-05-01
Kuniki KIYAMA
Director, Senior Managing Executive Officer, Special Assignment for the President
Apr 1981 Joined the Company Apr 2010 Manager, Agricultural Affairs Department Jun 2010 Deputy Manager, Bihoro Sugar Factory Jun 2016 Appointed Director (current); General Manager, Corporate Planning Office; General Manager, Affiliated Companies Jun 2018 General Manager, Agricultural Affairs Department; in charge of Agricultural Technology Development Department Apr 2020 General Manager, Agricultural Affairs Department and Agricultural Technology Development Department Jun 2020 Appointed Managing Executive Officer; Head, Sapporo Branch; in charge of Agricultural Division (Agricultural Affairs Department and Agricultural Technology Development Department); in charge of Agriculture-Welfare Collaboration Representative Director, President, Sakura Kiko Co., Ltd. Apr 2024 in charge of Agricultural Machinery Development Center Jun 2024 Appointed Senior Managing Executive Officer (current) Jun 2026 Special Assignment for the President (current)
1957-08-07
Hidekazu TERASAWA
Director, Senior Managing Executive Officer; in charge of Overseas Business Division, Feed Business Division, Paper Tube Business Division, and Agricultural Machinery Development Center
Apr 1982 Joined the Company Apr 2012 Manager, Agricultural Materials Sales Department Apr 2013 Manager, Paper Tube Business Division Jun 2016 General Manager, Paper Tube Business Division Jun 2018 Appointed Director; General Manager, Paper Tube Business Division Jun 2020 Appointed Senior Executive Officer Jun 2022 Appointed Director (current) Appointed Managing Executive Officer; in charge of Feed Business Division and Paper Tube Business Division; in charge of Overseas Strategy (current) Dec 2022 General Manager, Overseas Business Division Jul 2025 in charge of Overseas Business Division (current) Apr 2026 in charge of Agricultural Machinery Development Center (current) Jun 2026 Appointed Senior Managing Executive Officer (current)
1959-06-25
Yasushi SHIRABATA
Director, Senior Executive Officer; General Manager, Corporate Planning Office; General Manager, General Affairs Department; in charge of Finance Planning Office; in charge of Legal Affairs Office and IR
Apr 1990 Joined the Company Apr 2020 General Manager, General Affairs Department Jun 2022 Appointed Executive Officer; General Manager, Corporate Planning Office (current); in charge of Capital and Business Alliance Promotion Jun 2024 in charge of Legal Affairs Office (current); in charge of General Affairs Department and SDGs Apr 2025 in charge of Finance Planning Office Jun 2025 Appointed Director (current); Senior Executive Officer (current); in charge of IR (current) Jun 2026 General Manager, General Affairs Department (current); in charge of Finance Planning Office (current)
1967-04-12
Masataka ITO
Director, Senior Executive Officer; General Manager, Human Resources Department; in charge of Internal Control, Compliance and Risk Management Promotion Office, Accounting Department, and Quality Assurance Department
Apr 1993 Joined the Company Apr 2023 General Manager, Corporate Planning Office Jun 2023 General Manager, Human Resources Department (current) Jun 2024 Appointed Executive Officer; in charge of Internal Control, Compliance and Risk Management Promotion Office, Accounting Department, and Quality Assurance Department (current) Jun 2026 Appointed Director (current); Senior Executive Officer (current)
1970-04-28
Shuichi HASHIMOTO
Director
Apr 1979 Joined Meiji Seika Kaisha, Ltd. Jul 2012 General Manager, Agricultural Materials Department, Meiji Seika Pharma Co., Ltd. (formerly Meiji Seika Kaisha, Ltd., renamed) Jun 2014 Executive Officer and General Manager, Bio-Industry Business Division, Meiji Seika Pharma Co., Ltd.; Director, Meiji Pharma Korea Co., Ltd. Jun 2019 Appointed Director of the Company (current)
1956-05-01
Kiyomi NAKAMURA
Director
Apr 1998 Registered as Attorney-at-Law; joined Onishi Takao Law Office (currently Ono Sogo Law Office, Attorneys at Law) Jan 2008 Partner Attorney, Ishimoto Tetsutoshi Law Office Jun 2019 Outside Director, Eiken Chemical Co., Ltd. (current) Jun 2020 Appointed Director of the Company (current) May 2022 Partner Attorney, Horizon Law Office (current)
1968-10-31
Kei KOGA
Full-time Audit and Supervisory Board Member
Apr 1987 Joined the Company Apr 2018 General Manager, Accounting Department Jun 2018 General Manager, Accounting Department Jun 2023 Appointed Full-time Audit and Supervisory Board Member (current)
1963-10-06
Hiroyuki FUJISAKI
Full-time Audit and Supervisory Board Member
Apr 1985 Joined the Company Apr 2016 General Manager, Food Business Division Jun 2016 Deputy Manager, Memuro Sugar Factory Apr 2018 Deputy Manager, Shibetsu Sugar Factory Jun 2019 Appointed Full-time Audit and Supervisory Board Member (current)
1963-02-08
Yoshitake MASUMOTO
Audit and Supervisory Board Member
Oct 2000 Registered as Attorney-at-Law Jul 2004 Joined Oe Kuroda Law Office (date of joining as stated: 2007 May) May 2007 Joined Oe Tadashi & Tanaka Yutaka Law Office Jun 2010 Joined Spring Law Office Jan 2011 Partner Attorney, Spring Law Office (current) Jun 2013 Director, MRI Debt Collection Co., Ltd. (current) Jun 2019 Appointed Audit and Supervisory Board Member of the Company (current)
1967-10-27
Motomi OI
Audit and Supervisory Board Member
Apr 1999 Joined Deloitte Touche Tohmatsu (currently Deloitte Touche Tohmatsu LLC) Jun 2002 Registered as Certified Public Accountant May 2006 Opened Oi Certified Public Accountant Office (current) Jun 2013 Outside Audit and Supervisory Board Member, C'bon Cosmetics Co., Ltd. Apr 2020 Outside Audit and Supervisory Board Member, Ryoyo Electro Corporation Oct 2021 Supervisory Director, Japan Logistics Fund, Inc. (current) Apr 2024 Outside Director (Audit and Supervisory Committee Member), Ryosan Ryoyo Holdings Co., Ltd. (current) Jun 2025 Appointed Audit and Supervisory Board Member of the Company (current)
1977-02-27
Yuko ASAMI
Director
Apr 2000 Full-time Lecturer, Faculty of Economics, Gakushuin University Apr 2008 Professor, Faculty of Economics, Gakushuin University Feb 2010 Member, Independent Administrative Institution Evaluation Committee, Ministry of Finance Jun 2018 Outside Audit and Supervisory Board Member, Daiken Corporation Jun 2019 Member, Advisory Council on Accounting Standards, Financial Accounting Standards Foundation Jul 2019 Member, Certified Public Accountants and Auditing Oversight Board, Financial Services Agency Jan 2020 Member, National Tax Examination Board Jun 2021 Outside Director (Audit and Supervisory Committee Member), Daiken Corporation Dec 2022 Outside Director (Audit and Supervisory Committee Member), Suprix Inc. (current) Jun 2023 Temporary Member, Business Accounting Council, Financial Services Agency (current) Jul 2023 Member, Land Appraisal Committee, Ministry of Land, Infrastructure, Transport and Tourism (current) Oct 2023 Vice Chairperson, Land Valuation Deliberation Council, Tokyo Regional Taxation Bureau, National Tax Agency (current) Apr 2025 Professor Emerita, Gakushuin University (current); Professor, Graduate School of Economics, Nagoya University (current) Dec 2025 Member, Certified Public Accountant Examination Committee (current) Jun 2026 Appointed Director of the Company (current)
1972-01-05
Large Shareholding Reports
Be Brave Co., Ltd., Representative Director Kazuto IZUMIDA
2026-02-04
8.43%→9.48%
Be Brave Co., Ltd., Representative Director Kazuto IZUMIDA
2026-01-15
—
Be Brave Co., Ltd.
2026-01-14
7.26%→8.43%
Be Brave Co., Ltd.
2025-12-08
5.02%→7.26%
Nitten Kyoeikai Chairman Ken SUGIYAMA
2025-12-05
6.02%→7.58%
Be Brave Co., Ltd., Representative Director Kazuto IZUMIDA
2025-11-25
5.02%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-02-04
Large Shareholding Report
EDINETAmended
2026-01-15
Change Report
EDINET
2026-01-14
Large Shareholding Report
EDINET
2025-12-08
Large Shareholding Report
EDINET
2025-12-05
Large Shareholding Report
EDINET
2025-11-25
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
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
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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