Overview
Retail Trade

AP HOLDINGS CO.,LTD.

AP Holdings operates an integrated food business in Japan and overseas under its proprietary 'Production-to-Sales Direct Model' (生販直結モデル), spanning primary production of branded free-range chicken (Miyazaki Jidokko, Shintoku Jidori, Kuro Satsuma) and fresh seafood, through in-house logistics and processing, to restaurant and meal-kit sales. The group manages multiple domestic dining brands including 'Tsukada Nojo' and 'Shijuhachi Gyoba,' as well as a mid-meal (chukashoku) business, while operating international restaurants in Singapore, the USA, Hong Kong, and Indonesia. By eliminating unnecessary intermediaries and building direct partnerships with regional producers and local governments, the company delivers high-quality, competitively priced food products while supporting sustainable primary industry ecosystems.

Market Cap
¥12.0B
US$76.4M
EV
¥15.7B
US$100M
Stock¥939▼-0.32%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
13.6
x
LTM EV/EBIT
20.6
x
LTM PER
18.4
x
LTM PBR
12.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-21.8%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
12.0BUS$76.4MMarket Cap4.75BUS$30.3M+ Debt0.84BUS$5.35M− Cash0.19BUS$1.22M− Inv. Sec.0.00BUS$0.00M+ NCI15.7BUS$100MEV
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Performance & Balance
Revenue 5Y (¥B)
8.00US$51.0M'22/317.2US$110M'23/320.6US$131M'24/321.1US$134M'25/321.8US$139M'26/3
EBITDA 5Y (¥B)
-3.27-US$20.8M'22/3-1.24-US$7.90M'23/30.37US$2.33M'24/30.71US$4.51M'25/31.25US$7.99M'26/3
Net Income 5Y (¥B)
0.03US$0.20M'22/3-1.31-US$8.37M'23/3-0.45-US$2.88M'24/3-0.04-US$0.23M'25/31.14US$7.24M'26/3
Capital Structure
83%
EquityD/E 4.80xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.77US$11.3M7.74US$49.4M'22/32.14US$13.6M6.82US$43.5M'23/31.85US$11.8M6.00US$38.3M'24/31.10US$6.99M5.80US$37.0M'25/31.36US$8.67M4.73US$30.2M'26/3
Shareholders
Top 10 hold 55.6%
1
Hisashi YONEYAMA
40.66%
2
MTR Investment Co., Ltd.
5.29%
3
Yoichiro NISHI
3.45%
4
Oisix ra daichi Inc.
2.84%
5
Upfront Group Co., Ltd.
1.15%
6
NSK Ltd.
0.86%
7
Junko SATOMI
0.47%
8
AP HOLDINGS CO.,LTD. Employee Stock Ownership Association
0.39%
9
Nomura Securities Co., Ltd.
0.24%
10
Katsumi YOSHINO
0.20%
Management
7 officers
Hisashi YONEYAMA
Representative Director, Chairman and President
Oct 2001 Established A.P. Company Co., Ltd. (now the Company), Representative Director, President Jun 2013 Representative Director, Shintoku Farm Co., Ltd. Oct 2013 Director, Kagoshima Buns Co., Ltd. (current) Oct 2015 Representative Director, MTR Investment Co., Ltd. (current) Jun 2020 Representative Director, President and Executive Officer, CEO, the Company Nov 2022 Representative Director, Chairman and Founder, the Company Director, Jitokkei Land Nichinan Co., Ltd. (current) Sep 2023 Representative Director, Chairman and President, the Company (current) Jun 2025 Director, Shintoku Farm Co., Ltd. (current)
1970-11-09
Masashi YOKOZAWA
Director
Nov 2011 Joined the Company Sep 2016 General Manager, Fish Business Division, the Company Jun 2019 Executive Officer; Head of Brand Development Office; Head of Fish Business Division; Head of Hokkaido Tsukada Business Division, the Company Nov 2023 Representative Director, A.P. Company Co., Ltd. (current) Jun 2024 Director, Senior Executive Officer, the Company (current)
1977-10-02
Yuki SATAKE
Director
Apr 2015 Joined the Company; Executive Officer, Head of Development Division (current) Jun 2023 Senior Executive Officer, the Company Nov 2023 Director, A.P. Company Co., Ltd. (current) Director, Jitokkei Land Nichinan Co., Ltd. (current) Director, Tsukada Nojo Plus Co., Ltd. (current) Jun 2024 Director, Senior Executive Officer, the Company (current)
1977-02-10
Rie CHIKANAI
Director
Nov 2008 Joined the Company Aug 2018 Deputy Head, Marketing Division, the Company May 2019 General Manager, Brand Communications Department, the Company Jul 2022 Executive Officer; Director, Food Trend Research Center; Project Leader, Delivery Business Promotion Department, Overseas and New Business Division; General Manager, Brand Communications Department, the Company Apr 2023 Executive Officer (current); Head of Marketing Division; General Manager, Brand Communications Department; Director, Food Trend Research Center; Head of Uochisoukun Business Division, Business Management Headquarters, the Company Jun 2024 Director, Senior Executive Officer, the Company (current) Jan 2025 Representative Director, Shinsengumi Food Service Co., Ltd. (current)
1982-04-02
Satoshi OZAKI
Director, Audit and Supervisory Committee Member
Nov 2007 Passed the Certified Public Accountant Examination Jan 2009 Joined Avantia Audit Corporation Oct 2011 Registered as Certified Public Accountant; Principal, Ozaki CPA Office (current) Jun 2024 Outside Director, Audit and Supervisory Committee Member, the Company (current)
1986-01-27
Yoshihiro TAJI
Director, Audit and Supervisory Committee Member
Apr 1982 Joined Kobe Steel, Ltd. Oct 1988 Passed the National Bar Examination Apr 1991 Registered as attorney-at-law; joined Iwata Godo Law Office Aug 1997 Worked at Richard Butler Law Office (Paris and London) Jun 2011 Outside Audit & Supervisory Board Member, TANAKA Holdings Co., Ltd. (current) Jun 2018 Outside Director, the Company Jun 2020 Outside Director, Audit and Supervisory Committee Member, the Company (current)
1959-08-21
Yuo OGURI
Director, Audit and Supervisory Committee Member
Dec 2008 Registered as attorney-at-law; joined Tokyo Themis Law Office Aug 2010 Joined Very Best Law Office Mar 2014 Representative, Oguri Law Office (current) Jun 2024 Outside Director, Audit and Supervisory Committee Member, the Company (current)
1980-12-13
Large Shareholding Reports
Hisashi YONEYAMA
2026-07-06
40.44%→40.10%
Annual report (as of 2026-03-31): 40.66%
DBJ Regional Investment Co., Ltd.
2026-05-13
9.97%
Hisashi YONEYAMA
2026-04-15
41.47%→40.44%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2026-03-11
42.52%→41.47%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-12-11
42.38%→42.52%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-12-08
42.38%→42.52%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-11-06
42.38%→42.38%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-10-24
42.24%→42.38%
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-09-09
43.24%→42.24%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 40.66%
Hisashi YONEYAMA
2025-09-05
43.24%→42.24%
Annual report (as of 2026-03-31): 40.66%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-09
Securities Registration Statement
TDnet
2026-08-14
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-31
Amended Securities Registration Statement
EDINET
2026-07-06
Large Shareholding Report
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-06-10
Amended Securities Registration Statement
EDINETAmended
2026-06-02
Amended Securities Registration Statement
EDINET
2026-05-28
Securities Registration Statement
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-04-15
Large Shareholding Report
EDINET
2026-03-11
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-12-11
Change Report
EDINET
2025-12-08
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-11-06
Large Shareholding Report
EDINET
2025-10-24
Large Shareholding Report
EDINETAmended
2025-09-09
Change Report
EDINET
2025-09-05
Large Shareholding Report
TDnet
2025-08-14
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-14
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
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
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-05-29
Securities Registration Statement
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