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Overview

Metal Products

NITCHO CORPORATION

Nippon Chouriki is a specialized manufacturer of commercial kitchen equipment for institutional foodservice (collective feeding) facilities in Japan, offering products including dishwashers, sterilization storage cabinets, tilting braising pans, rice cookers, and steam convection ovens. The company serves schools, hospitals, and corporate cafeterias, providing an integrated solution encompassing consulting, design, manufacturing (at Tochigi and Oita plants), installation, and after-sales service. A key competitive differentiator is its vendor-neutral consulting approach, recommending optimal kitchen systems from both its own and third-party products to maximize customer satisfaction.

Market Cap

¥7.67B

US$48.8M

¥5.15B

US$32.8M

Stock¥1,719▲+21.14%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

5.0

LTM EV/EBIT

5.9

LTM PER

13.4

LTM PBR

1.0

2026-08-25 closing price basis: ranked #77 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-11B).

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+21.7%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Aug 10, 26Q3 FY2026/09 earnings announced

2Oct 23, 26Full-year guidance raised: operating profit +59.2% (¥820M→¥1,344M); dividend hiked ¥45→¥75

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

96%

EquityD/E 0.04xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 64.6%

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

NITCHO CORPORATION Employee Stock Ownership Association

11.26%

MARUZEN CO.,LTD.

10.21%

Daiichi Air Kogyo Ltd.

8.97%

Sachiko TANAKA

8.16%

Noriko SAITO

8.01%

Takaya SAITO

7.25%

Shigekazu TANAKA

3.35%

Yumiko SATO

2.68%

Tomoyasu NISHIYAMA

2.37%

Yuji SAITO

2.36%

Management

10 officers

Yuji SAITO

Representative Director, President

Oct 1994 Joined Nihon Cooking Equipment Co., Ltd. Dec 2006 Deputy General Manager, Sales Division, the Company Dec 2009 Director, Plant Manager, Tochigi Plant, the Company Dec 2013 Managing Director, in charge of Production, the Company Dec 2015 Representative Director, President, the Company (current)

1970-04-09

Hiroshi MISHIMA

Managing Director

Apr 1994 Joined Nihon Cooking Equipment Co., Ltd. Oct 2012 General Manager, Sales Promotion Department, the Company Apr 2016 General Manager, Business Management Division, the Company Dec 2017 Executive Officer, General Manager, Business Management Division, the Company Oct 2018 Executive Officer, General Manager, Corporate Planning Office, the Company Dec 2021 Director, in charge of Business Management Division, the Company Nov 2022 Representative Director, Vega Co., Ltd. Sep 2024 Managing Director, in charge of Sales Division and Business Management Division, the Company (current)

1970-08-27

Yutaka IIJIMA

Director

Apr 1985 Joined Nihon Cooking Equipment Co., Ltd. Oct 2012 General Manager, Product Development Department, the Company Apr 2017 General Manager, Technology Development Division, the Company Oct 2018 General Manager, Production Division, the Company Dec 2021 Executive Officer, in charge of Production Division, the Company Dec 2022 Director, in charge of Production Division, the Company (current) Nov 2024 Representative Director, Vega Co., Ltd. (current)

1964-11-20

Mitsuhiro INODA

Director

Apr 1998 Joined Nihon Cooking Equipment Co., Ltd. Oct 2015 General Manager, Accounting Department, the Company Dec 2021 Executive Officer, in charge of Administration Division, the Company Dec 2023 Director, in charge of Administration Division, the Company (current)

1975-12-31

Taku KAWAKITA

Director

Apr 1998 Joined Nihon Cooking Equipment Co., Ltd. Oct 2015 General Manager, Business Planning Department, the Company Oct 2018 General Manager, Business Management Division and General Manager, Business Planning Department, the Company Dec 2023 Executive Officer, General Manager, Corporate Planning Office, the Company Dec 2025 Director, in charge of Corporate Planning Office and Internal Audit Office, the Company (current)

1973-11-09

Hirofumi MATSUURA

Director

Apr 1970 Joined Toshiba Corporation Mar 1973 Joined Daiwa Securities Co., Ltd. Jul 1995 Director, General Manager, International Division, Daiwa Investment Management Co., Ltd. Apr 2006 Audit & Supervisory Board Member, United Managers Japan Co., Ltd. Dec 2013 Audit & Supervisory Board Member, the Company Dec 2017 Outside Director, the Company (current)

1946-04-07

Katsuaki SUZUKI

Director, Audit and Supervisory Committee Member

Apr 1982 Joined Nihon Cooking Equipment Co., Ltd. Apr 2007 General Manager, General Affairs Department, the Company Dec 2012 Executive Officer, General Manager, General Affairs Department, the Company Dec 2021 Director, Audit and Supervisory Committee Member, the Company (current)

1959-05-10

Satoshi MITSUI

Director, Audit and Supervisory Committee Member

Dec 2004 Joined Chuo Aoyama Audit Corporation Nov 2010 Joined Tsuji & Hongo Tax Corporation Jan 2014 Opened Mitsui Certified Public Accountant Office (formerly Mitsui Certified Public Accountant & Tax Accountant Office) (current) Jan 2014 Representative Director, Gentle Partners Co., Ltd. (current) Dec 2017 Outside Audit & Supervisory Board Member, the Company Sep 2018 Representative Partner, Futaba Tax Corporation (current) Dec 2018 Director, Audit and Supervisory Committee Member, the Company (current) May 2024 Outside Audit & Supervisory Board Member, United Super Markets Holdings, Inc. (current)

1977-01-31

Junko KOGAYU

Director, Audit and Supervisory Committee Member

Apr 1991 Joined Chuo Shinko Audit Corporation Mar 1994 Registered as Certified Public Accountant Sep 2006 Joined Arata Audit Corporation (currently PwC Japan LLC) Aug 2012 Head of Research and Consultation Group, Self-Regulation and Operations Division, Japanese Institute of Certified Public Accountants Oct 2012 Professor, Graduate School of Economics (Graduate School of Accounting), Tohoku University (current) Jan 2020 Opened Junko Kogayu Certified Public Accountant Office (current) Mar 2020 Registered as Tax Accountant Apr 2020 Joined Ayako Takeuchi Tax Accountant Office (current) Dec 2020 Director, Audit and Supervisory Committee Member, the Company (current) Jun 2021 Outside Director, Audit and Supervisory Committee Member, Nissin Co., Ltd. Dec 2021 Supervisory Director, Daiwa House REIT Investment Corporation (current) Jun 2022 Outside Audit & Supervisory Board Member, Shoko Chukin Bank, Ltd. Jun 2022 Outside Audit & Supervisory Board Member, PPP/PFI Promotion Organization Co., Ltd. (current) Jun 2024 Outside Director, Audit and Supervisory Committee Member, Shoko Chukin Bank, Ltd. (current) Jun 2024 Outside Audit & Supervisory Board Member, TBS Holdings, Inc. (current) Jun 2024 Audit & Supervisory Board Member, TBS Television, Inc. (current)

1967-10-10

Tetsuya MIYAJIMA

Director, Audit and Supervisory Committee Member

Apr 1997 Joined Kajitani Sogo Law Office (current) Apr 2014 Auditor, First Tokyo Bar Association Jun 2016 Outside Director, Nippon Koshuha Steel Co., Ltd. (current) Dec 2020 Outside Director, the Company Dec 2022 Director, Audit and Supervisory Committee Member, the Company (current)

1970-04-10

Large Shareholding Reports

Maruzen Co., Ltd.

2026-09-01

10.03%→10.03%

Annual report (as of 2026-03-31): 10.21%

Maruzen Co., Ltd.

2026-08-31

10.03%→10.03%

Annual report (as of 2026-03-31): 10.21%

Maruzen Co., Ltd.

2025-10-24

10.03%→10.03%

Annual report (as of 2026-03-31): 10.21%

Disclosures

No disclosures

Primary Source Filings

EDINETAmended

2026-09-01

Change Report

NITCHO CORPORATION

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NITCHO CORPORATION

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