Overview
Retail Trade

Shirohato Co.,Ltd.

Shirohato Co., Ltd. is a Japan-based e-commerce retailer specializing in innerwear, operating across multiple online platforms including its own website, Rakuten Ichiba, Yahoo! Shopping, Amazon.co.jp, au PAY Market, and Qoo10, as well as overseas channels in China and Southeast Asia. The company handles approximately 11,000 SKUs across around 140 brands, encompassing major domestic labels such as Wacoal, Triumph, and Gunze, as well as its own original brands including HIMICO and LA VIE A DEUX. Its competitive strengths lie in a proprietary one-stop e-commerce system covering procurement, site operation, and in-house logistics, supported by an automated warehouse and fulfillment center at its Kyoto headquarters.

Market Cap
¥1.29B
US$8.20M
EV
¥2.78B
US$17.8M
Stock¥193▼-4.93%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
110.6
x
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
0.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-44.4%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 17, 25Individual stock buying on earnings hopes
2Jul 13, 26Q2 FY2026/11 earnings announced
MC → EV Bridge
1.29BUS$8.20MMarket Cap1.98BUS$12.6M+ Debt0.48BUS$3.08M− Cash0.00BUS$0.00M− Inv. Sec.2.78BUS$17.8MEV
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Performance & Balance
Revenue 5Y (¥B)
6.23US$39.7M'22/26.35US$40.5M'23/26.37US$40.6M'24/26.27US$40.0M'25/24.21US$26.8M'25/11
EBITDA 5Y (¥B)
0.21US$1.37M'22/20.28US$1.80M'23/20.20US$1.28M'24/20.23US$1.44M'25/20.00US$0.00M'25/11
Net Income 5Y (¥B)
-0.22-US$1.42M'22/20.07US$0.47M'23/2-0.12-US$0.77M'24/20.12US$0.78M'25/20.31US$2.00M'25/11
Capital Structure
55%
45%
EquityD/E 0.81xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
0.51US$3.24M3.39US$21.6M'22/20.69US$4.42M3.31US$21.1M'23/20.19US$1.23M3.02US$19.2M'24/20.55US$3.54M3.09US$19.7M'25/20.64US$4.10M2.26US$14.4M'25/11
Shareholders
Top 10 hold 82.5%
1
Shiai Medical Co., Ltd.
50.58%
2
MATSUI SECURITIES CO.,LTD.
7.30%
3
Shingo ITO
5.01%
4
Masaru IKEGAMI
4.68%
5
Rakuten Securities, Inc. (Joint Account)
4.09%
6
SBI SECURITIES Co., Ltd.
3.03%
7
GMO CLICK Securities, Inc.
2.70%
8
Ryo HIROTA
2.52%
9
Toshihiko UEHARA
1.33%
10
Toshiyuki ISHIZAKA
1.27%
Management
7 officers
Tomoki SUGAWARA
Representative Director, President
Apr 2001 Joined Matsuyama Electronic Computing Center Co., Ltd. May 2008 Joined Zooty Ltd. Jan 2011 Joined the Company May 2016 Head of Information Systems Department, Solutions Division, the Company May 2019 General Manager, Solutions Business Division, the Company Mar 2023 General Manager, WEB Business Division and General Manager, Solutions Business Division, the Company May 2023 Director, General Manager, WEB Business Division and General Manager, Solutions Business Division, the Company Mar 2024 Director, General Manager, WEB Business Division, the Company May 2024 Representative Director, President, the Company Dec 2025 Representative Director, President, in charge of Digital Solutions Department, the Company (current)
1978-06-02
Toshiaki IINO
Director
Apr 1987 Joined Nicole Co., Ltd. Mar 2008 Joined B's Retailing Co., Ltd. (now B's International Co., Ltd.) Jul 2014 Joined Slow Artworks Co., Ltd. Mar 2015 Joined the Company; General Manager, President's Office and General Manager, Product Business Division May 2016 General Manager, Business Development and Reform Office, the Company Mar 2020 General Manager, Purchasing Business Division, Product Headquarters, the Company Mar 2021 Purchasing Business Division, Product Business Headquarters, the Company May 2024 Director, General Manager, Product Business Headquarters, the Company Sep 2024 Director, General Manager, Purchasing Business Division and General Manager, Blooming Style Business Division, the Company Mar 2025 Director, General Manager, National Brand Department, the Company (current)
1965-02-28
Masaharu YAMAUCHI
Director
Apr 1988 Joined Murai Eyeglass Industry Co., Ltd. (now Murai Co., Ltd.) Mar 1994 Director, General Manager, Overseas Business Division and General Manager, Corporate Planning Office, Murai Co., Ltd. Nov 2003 Joined Shindo Textile Industry Co., Ltd. (now SHINDO Co., Ltd.) Jul 2005 Executive Officer, in charge of Japan, Europe and U.S. Business, SHINDO Co., Ltd. Mar 2012 General Manager, Textile Company, SHINDO Co., Ltd. May 2015 Joined Hakuichi Co., Ltd. Nov 2015 Director, General Manager, President's Office, Hakuichi Co., Ltd. Oct 2019 Joined Shiai Medical Co., Ltd. Mar 2020 Executive Officer, General Manager, Human Resources Department, Shiai Medical Co., Ltd. Mar 2021 Managing Director, Shiai Medical Co., Ltd. (current) May 2024 Outside Director, the Company Jul 2024 Director, Nissen Holdings Co., Ltd. (current) Dec 2024 Director, the Company (current)
1964-05-25
Tsuneo SHIMIZU
Director
Mar 1971 Joined Wacoal Corp. (now Wacoal Holdings Corp.) Dec 1983 President, Hong Kong Wacoal Co., Ltd. Jan 1991 President, Wacoal France S.A. Jun 2002 Executive Officer, Wacoal Brand Business Division, Osaka Store (in charge of specialty stores) and Store Manager, Wacoal Corp. Jun 2005 Managing Executive Officer, General Manager, Wacoal Brand Business Division, Wacoal Corp. Apr 2006 Senior Managing Executive Officer, Wacoal Corp. Jun 2006 Director and Senior Managing Executive Officer, Wacoal Corp. Apr 2008 Director and Senior Managing Executive Officer, Assistant to Sales Supervision, Wacoal Corp. Jun 2008 Director, Wacoal Holdings Corp. Jul 2013 Advisor, the Company Nov 2013 Outside Director, the Company (current)
1948-10-30
Yoshio KAWASHIMA
Full-time Audit & Supervisory Board Member
Jul 1997 Senior Manager, Finance Group, Wacoal Corp. (now Wacoal Holdings Corp.) Jun 2001 Group Manager, Business Management Group, International Business Division, Wacoal Corp. Apr 2007 General Manager, Internal Audit Office, Wacoal Corp. Jun 2008 Full-time Audit & Supervisory Board Member, Wacoal Corp. Aug 2012 Joined the Company Nov 2012 Director, the Company Dec 2012 Director, General Manager, Management Administration Office, the Company Nov 2015 Director, General Manager, Management Administration Office, the Company (retired) May 2025 Audit & Supervisory Board Member, the Company (current)
1952-02-05
Norihide IWANAGA
Audit & Supervisory Board Member
Oct 2000 Joined Chuo Aoyama Audit Corporation Jul 2006 Opened Iwanaga Certified Public Accountant Office; Representative (current) May 2008 Partner, Hikari Audit Corporation Nov 2013 Part-time Audit & Supervisory Board Member, the Company (current) Aug 2014 Representative Partner, Hikari Audit Corporation Jun 2015 Outside Audit & Supervisory Board Member, Kyoto Kikai Kogu Co., Ltd. Jul 2021 Chief Representative Partner, Hikari Audit Corporation (current)
1974-01-31
Yoshiaki HIRAO
Audit & Supervisory Board Member
Oct 2001 Registered as attorney, Kyoto Bar Association Oct 2001 Joined Nakamura Toshio Law Office (now Nakamura Toshio Law Office LPC) Apr 2014 Vice President, Kyoto Bar Association Jan 2016 Partner, Nakamura Toshio Law Office LPC (current) Apr 2016 Special Professor, Kyoto University Law School Nov 2017 Part-time Audit & Supervisory Board Member, the Company (current) Apr 2020 Deputy Director, Kyoto Office, Japan Legal Support Center (Houterasu) (current)
1972-03-21
Large Shareholding Reports
SBI Securities Co., Ltd.
2025-11-07
7.11%→5.49%
Annual report (as of 2026-05-31): 3.03%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-10-09
Q3 Earnings Flash
FY ending Nov 2026
EDINET
2026-07-10
Semi-Annual Securities Report
Period: Dec 2025 – Nov 2026
TDnet
2026-07-10
Q2 Earnings Flash
FY ending Nov 2026
TDnet
2026-04-10
Q1 Earnings Flash
FY ending Nov 2026
EDINET
2026-02-27
Annual Securities Report
Period: Mar 2025 – Nov 2025
EDINET
2025-11-07
Large Shareholding Report
EDINET
2025-10-10
Semi-Annual Securities Report
Period: Mar 2025 – Nov 2025
TDnet
2025-07-11
Q1 Earnings Flash
FY ending Nov 2025
EDINET
2025-05-30
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-10
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-11
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
TDnet
2024-07-12
Q1 Earnings Flash
FY ending Feb 2025
EDINETAmended
2024-06-06
Amended Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-05-30
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-12
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-12
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-13
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINETAmended
2023-05-30
Amended Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINETAmended
2023-05-30
Amended Quarterly Securities Report
Period: Mar 2022 – May 2022
EDINETAmended
2023-05-30
Amended Quarterly Securities Report
Period: Jun 2022 – Aug 2022
EDINET
2023-05-30
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-12
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINET
2022-10-13
Quarterly Securities Report
EDINET
2022-07-13
Quarterly Securities Report
EDINET
2022-05-30
Annual Securities Report
TDnet
2022-04-13
Full-Year Earnings Flash
FY ending Feb 2022
EDINET
2022-01-13
Quarterly Securities Report
EDINET
2021-10-13
Quarterly Securities Report
EDINET
2021-07-13
Quarterly Securities Report
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