Overview
Metal Products

MIYAJI ENGINEERING GROUP,INC.

Miyaji Engineering Group is a holding company overseeing two core operating subsidiaries—Miyaji Engineering Co., Ltd. and MM Bridge Co., Ltd.—engaged in the design, fabrication, construction, and maintenance of steel bridges, coastal structures, large-scale buildings, and other social infrastructure. Miyaji Engineering handles new bridge construction, maintenance and reinforcement of existing bridges, seismic retrofitting, large-space/high-rise buildings, towers, and chimneys, while MM Bridge specializes in the design, manufacture, installation, and repair of bridges and coastal structures. The group serves public infrastructure clients across Japan, leveraging over a century of engineering expertise and specialized fabrication capabilities.

Market Cap
¥36.6B
US$232M
EV
¥18.6B
US$118M
Stock¥1,382▼-0.22%
US$1 = ¥157.90 (2026-11-02)
LTM EV/EBITDA
3.7
x
LTM EV/EBIT
3.3
x
LTM PER
13.2
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-50.8%pt
100
Nov 4, 25 – Nov 2, 26StockTOPIX
MC → EV Bridge
36.6BUS$232MMarket Cap0.55BUS$3.46M+ Debt17.1BUS$108M− Cash8.68BUS$55.0M− Inv. Sec.7.13BUS$45.2M+ NCI18.6BUS$118MEV
AI Briefing
Century-old steel bridge & infrastructure engineering group, run through two core subsidiaries covering design-to-maintenance of bridges and coastal structures. FY26/3 revenue ¥56.7B, OP margin down to 8.0% from FY25/3's 12.3% peak — project mix normalizing after a strong run. Net cash-rich balance sheet (¥17.1B cash vs ¥0.5B debt) against ¥37.8B cap keeps this on screens as a quality infra compounder, not a distressed asset.
Performance & Balance
Revenue 5Y (¥B)
58.0US$367M'22/360.3US$382M'23/369.4US$439M'24/374.7US$473M'25/356.7US$359M'26/3
EBITDA 5Y (¥B)
6.91US$43.7M'22/36.15US$39.0M'23/38.86US$56.1M'24/310.5US$66.2M'25/36.16US$39.0M'26/3
Net Income 5Y (¥B)
3.41US$21.6M'22/33.08US$19.5M'23/34.35US$27.6M'24/34.86US$30.8M'25/33.26US$20.7M'26/3
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
21.3US$135M0.44US$2.79M'22/318.8US$119M0.08US$0.51M'23/326.2US$166M0.33US$2.06M'24/323.4US$148M8.08US$51.1M'25/321.2US$134M0.55US$3.46M'26/3
Shareholders
Top 10 hold 27.9%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
8.25%
2
MUFG Bank, Ltd.
4.29%
3
Meiji Yasuda Life Insurance Company
4.02%
4
NIPPON STEEL CORPORATION
2.38%
5
MIYAJI ENGINEERING GROUP,INC. Business Partners' Stock Ownership Association
2.36%
6
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
1.86%
7
JFE Steel Corporation
1.36%
8
Custody Bank of Japan, Ltd. (Trust Account)
1.25%
9
Mitsubishi Heavy Industries,Ltd.
1.21%
10
Sumitomo Mitsui Banking Corporation
0.89%
Management
7 officers
Masahiro IKEURA
Representative Director, President
Apr 1982 Joined Mitsubishi Heavy Industries, Ltd. Apr 2008 General Manager, Sales Department I, Sales Management Division, Bridge Business Headquarters, Mitsubishi Heavy Industries Steel Structure Engineering Co., Ltd. (now M M Bridge Co., Ltd.) Jun 2008 General Manager, Sales Management Division, Bridge Business Headquarters, same company Oct 2009 General Manager, Corporate Planning Division, same company May 2012 Research Officer, New Business Development Office, same company Apr 2014 Research Officer, President's Office, same company Apr 2015 Executive Officer, Research Officer, President's Office, M M Bridge Co., Ltd. Jun 2017 Managing Executive Officer, General Manager, President's Office, same company Jun 2019 Director, Managing Executive Officer, General Manager, President's Office, same company Apr 2020 Director, Managing Executive Officer, same company Jun 2020 Representative Director, President, same company Jun 2020 Director, the Company Apr 2025 Representative Director, President, the Company; General Manager, Group Planning and Administration Division Apr 2026 Representative Director, President, the Company (current) Apr 2026 Representative Director, Chairman, M M Bridge Co., Ltd. (current) Jun 2026 Director, Miyaji Engineering Co., Ltd. (current)
1959-02-07
Kyoji OKUMURA
Director, Senior Managing Executive Officer, General Manager, Group Planning and Administration Division
Apr 1986 Joined Miyaji Iron Works Co., Ltd. (now Miyaji Engineering Co., Ltd.) Mar 2009 Senior Manager (General Manager), Technical Proposal Office, Sales Division, same company Dec 2010 General Manager, Technical Proposal Office, Sales Division, same company Mar 2011 General Manager, Technical Proposal Office, Bridge Sales Division, Bridge Business Headquarters, Miyaji Engineering Co., Ltd. Apr 2015 Executive Officer, Deputy General Manager, Sales Division, same company Oct 2016 Executive Officer, Deputy General Manager, Sales Division; General Manager, Technical Management Department, same company Jul 2017 Executive Officer, Deputy General Manager, Sales Division; General Manager, Technical Management Department; General Manager, Bridge Sales Department, same company Apr 2018 Executive Officer, Deputy General Manager, Sales Division (in charge of bridge sales); General Manager, Technical Management Department, same company Oct 2019 Executive Officer, Deputy General Manager, Sales Division (in charge of bridge sales), same company Apr 2020 Executive Officer, Deputy General Manager, Sales Division (in charge of bridge sales); Deputy General Manager, Kansai Branch; Head of Preparation Office, Kansai Design Department, same company Apr 2021 Executive Officer, General Manager, Engineering Division, same company Apr 2023 Executive Officer, in charge of Technology and Production Control Departments, M M Bridge Co., Ltd. Jun 2023 Representative Director, in charge of Technology and Production Control Departments, same company Apr 2025 Representative Director, President, Miyaji Engineering Co., Ltd. (current) Apr 2025 Director, M M Bridge Co., Ltd. Jun 2025 Director, the Company Jun 2025 Director, M M Bridge Co., Ltd. (retired) Apr 2026 Director, Senior Managing Executive Officer, General Manager, Group Planning and Administration Division, the Company (current) Jun 2026 Director, M M Bridge Co., Ltd. (current)
1964-01-26
Takashi HIRASHIMA
Director
Apr 1985 Joined Miyaji Construction Industry Co., Ltd. (now Miyaji Engineering Co., Ltd.) Jan 2009 General Manager, Planning Department, Construction Department, same company Feb 2011 Director, Miyaji Construction Co., Ltd. Mar 2011 Executive Officer, Deputy General Manager, Construction Division; General Manager, Planning Department, Miyaji Engineering Co., Ltd. Apr 2013 Executive Officer, General Manager, Construction Management and Planning Division; General Manager, Planning Department, same company Apr 2015 Director, General Manager, Construction Management and Planning Division; Deputy General Manager, Sales Division, same company Jun 2017 Director, the Company Apr 2019 Director, General Manager, Construction Division, Miyaji Engineering Co., Ltd. Apr 2021 Director, Managing Executive Officer, General Manager, Construction Division, same company Apr 2022 Director, Senior Managing Executive Officer, General Manager, Construction Division; in charge of construction planning, same company Jun 2022 Director, the Company (retired) Jun 2022 Director, M M Bridge Co., Ltd. Apr 2023 Director, Senior Managing Executive Officer, General Manager, Sales Division (railways and private sector); in charge of Construction and Planning Divisions, Miyaji Engineering Co., Ltd. Jan 2024 Director, Senior Managing Executive Officer, General Manager, Steel Structure Sales Division; in charge of Construction and Planning Divisions, same company Jun 2024 Director, Senior Managing Executive Officer, General Manager, Steel Structure Sales Division; in charge of Construction and Planning Divisions and private-sector fabrication works, same company Apr 2025 Managing Executive Officer, the Company Apr 2025 Director, Managing Executive Officer, General Manager, Compliance Promotion Division; in charge of Construction and Planning Divisions, Miyaji Engineering Co., Ltd. Jun 2025 Director, the Company (current) Apr 2026 Director, Vice President, Executive Officer; in charge of private-sector sales, Construction and Planning Divisions; Chief Compliance Officer, Miyaji Engineering Co., Ltd. (current)
1961-11-04
Mayumi HIRASE
Outside Director
Apr 1988 Trainee, Oumi Hills Golf Practice Range Jun 1988 Passed professional examination, Ladies Professional Golfers' Association of Japan (LPGA of Japan) Jun 1988 Competed on Japan LPGA Tour Jan 1996 Competed on U.S. LPGA Tour Mar 2000 Competed on Japan LPGA Tour Aug 2010 Junior instructor, Himekko Golf School Oct 2013 Began television commentary work Jul 2016 Lecturer, Dream Teacher program, Japan Football Association (JFA) Kokoro Project social contribution program (current) Jun 2023 Outside Director, the Company (current)
1969-10-30
Hidemi OTA
Director (Audit and Supervisory Committee Member)
Apr 1970 Joined Nippon Steel Corporation Jul 1993 General Manager, Offshore Steel Structure Engineering Department, Steel Structure and Offshore Business Division, same company Jul 1999 General Manager, Steel Structure and Offshore Business Division, same company Jun 2001 Director, General Manager, Steel Structure and Offshore Business Division, same company Apr 2005 Managing Director, Deputy General Manager, Engineering Business Headquarters, same company Jul 2006 Representative Director, Executive Vice President, Nippon Steel Engineering Co., Ltd. Jul 2010 Full-time Corporate Auditor, same company Apr 2015 Director, Hinode Suido Kiki Co., Ltd. (current) Jun 2018 Outside Director, the Company Jun 2021 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1947-12-19
Masato HIGUCHI
Director (Audit and Supervisory Committee Member)
Apr 1982 Joined the National Police Agency Jan 2007 Chief, Second Investigation Division, Criminal Investigation Bureau, same agency Oct 2009 Chief, Information and Communications Planning Division, same agency Sep 2011 Director-General, Youth and Public Safety Headquarters, Tokyo Metropolitan Government Jun 2013 Chief of Police, Fukuoka Prefectural Police Headquarters Jan 2015 Chief of Police, Osaka Prefectural Police Headquarters Oct 2016 Registered with the Daiichi Tokyo Bar Association; attorney-at-law, Higuchi Compliance Law Office (current) Jun 2019 Outside Director, Higashi Twenty One Co., Ltd. (now Higashi Holdings Co., Ltd.) (current) Jun 2020 Outside Corporate Auditor, the Company Jun 2021 Outside Director (Audit and Supervisory Committee Member), the Company (current) Aug 2021 Outside Director, Taiyo Cable Tech Co., Ltd. (current) Nov 2022 Outside Director, Japan BS Broadcasting, Inc. (current)
1957-06-05
Junko UEMURA
Director (Audit and Supervisory Committee Member)
Oct 2007 Passed the National Bar Examination Dec 2008 Registered with the Tokyo Bar Association; joined City-Yuwa Law Office Oct 2011 Joined Kansai Law and Patent Office (Osaka Bar Association) Jan 2018 Partner, same office (current) Aug 2019 Member, Committee for Verification of Specified Operating Projects for Gas Business, Otsu City (current) Mar 2022 Outside Corporate Auditor, Toyo Tanso Co., Ltd. (current) Apr 2022 Member, Expert Advisory Council for Osaka City Industrial Water Supply Facility Operation Project (current) Apr 2025 Member, Osaka City External Organization Evaluation Committee (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1982-09-03
Large Shareholding Reports
UGS Asset Management Co.,Ltd.
2023-08-22
6.16%→4.79%
UGS Asset Management Co.,Ltd.
2022-10-20
5.12%→6.16%
UGS Asset Management Co.,Ltd.
2022-01-18
5.12%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-13
Full-Year Earnings Flash
FY ending Mar 2026
TDnet
2026-02-10
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-11-04
業績予想の修正
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-22
Large Shareholding Report
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
2023-02-09
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-10-20
Large Shareholding Report
EDINET
2022-08-09
Quarterly Securities Report
EDINETAmended
2022-07-13
Amended Annual Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-09
Quarterly Securities Report
EDINET
2022-01-18
Large Shareholding Report
EDINET
2021-11-08
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-08
Quarterly Securities Report
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