Overview
Textiles and Apparels

Nippon Felt Company Limited

Nippon Felt Co., Ltd. is a manufacturer and distributor of papermaking felts (paper machine clothing) and industrial felts, serving paper and pulp mills as well as various industrial customers. The company operates through a group of six entities, including domestic subsidiaries specializing in felt sewing and processing, and overseas subsidiaries in Taiwan and China supporting regional sales and distribution. In addition to its core felt business, the company generates supplementary income through real estate leasing of its owned properties.

Market Cap
¥17.6B
US$112M
EV
¥3.19B
US$20.4M
Stock¥1,048▲+1.26%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.9
x
LTM EV/EBIT
6.6
x
LTM PER
26.6
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+58.5%pt
10012345
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jan 5, 26New year selling and profit-taking
2Jan 6, 26Dip buying after selling exhaustion
3Feb 10, 26Pre-earnings buying anticipation
4Mar 10, 26Strong earnings announcement surge
5Mar 11, 26Continued buying on earnings reaction
MC → EV Bridge
17.6BUS$112MMarket Cap0.80BUS$5.10M+ Debt2.61BUS$16.6M− Cash13.0BUS$83.1M− Inv. Sec.0.48BUS$3.07M+ NCI3.19BUS$20.4MEV
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Performance & Balance
Revenue 5Y (¥B)
9.84US$62.7M'22/310.4US$66.3M'23/310.1US$64.3M'24/39.70US$61.9M'25/39.40US$59.9M'26/3
EBITDA 5Y (¥B)
1.15US$7.36M'22/31.38US$8.81M'23/31.02US$6.53M'24/30.74US$4.74M'25/31.14US$7.26M'26/3
Net Income 5Y (¥B)
0.50US$3.18M'22/30.75US$4.78M'23/30.49US$3.11M'24/30.43US$2.74M'25/30.56US$3.57M'26/3
Capital Structure
97%
EquityD/E 0.03xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
9.67US$61.7M1.62US$10.3M'22/310.2US$65.0M1.61US$10.3M'23/311.4US$72.4M0.80US$5.11M'24/311.5US$73.5M0.80US$5.10M'25/313.8US$88.1M0.80US$5.10M'26/3
Shareholders
Top 10 hold 33.2%
1
Oji Holdings Corporation
9.66%
2
Japan Securities Finance Co.,Ltd.
4.64%
3
Nippon Paper Industries Co.,Ltd.
4.40%
4
Mizuho Bank, Ltd.
2.96%
5
Nippon Felt Company Limited Employee Stock Ownership Association
2.76%
6
The Musashino Bank,Ltd.
2.06%
7
NIPPON FILCON CO.,LTD.
1.90%
8
NORDEA BANK ABP / FINNISH CLIENTS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.73%
9
SBI SECURITIES Co., Ltd.
1.68%
10
DBS BANK LTD 700170 (Standing Proxy: Mizuho Bank, Ltd.)
1.41%
Management
10 officers
Seiichi SHIBAHARA
Representative Director, Chairman of the Board
Apr 1976 Joined the Company Oct 2004 Head of Sales Division No. 1, Nippon Felt Shoji Co., Ltd. Apr 2007 Head of Sales Division No. 1, the Company Oct 2009 General Manager, Sales Division Jun 2011 Director Jun 2013 Managing Director Jun 2015 Representative Director, President Jun 2016 Representative Director, President, President Executive Officer Jun 2023 Representative Director, Chairman of the Board (current)
1952-08-31
Sotaro YAZAKI
Representative Director, President, President Executive Officer, in charge of Administrative Division
Apr 1980 Joined the Company May 2005 General Manager, Corporate Planning Office Jun 2013 Director; General Manager, General Affairs and Human Resources Department Jun 2016 Senior Executive Officer; Plant Manager, Tochigi Plant; Assistant in charge of Administrative Division Jun 2018 Director, Executive Officer; Assistant in charge of Administrative Division; in charge of Human Resources; General Manager, General Affairs Department Jun 2020 Director, Executive Officer; in charge of Administrative Division and Real Estate Business; General Manager, General Affairs Department; General Manager, Human Resources Department May 2021 Chairman, Taiwan Huierde Co., Ltd.; Chairman, Rihuide Paper Machinery Trading (Shanghai) Co., Ltd. Jun 2021 Director, Managing Executive Officer; in charge of Administrative Division and Real Estate Business Jun 2023 Representative Director, President, President Executive Officer; in charge of Administrative Division (current)
1956-09-10
Kyoichi TOMITA
Director, Managing Executive Officer, in charge of Production, Technology and R&D Divisions
Apr 1984 Joined the Company Oct 2013 General Manager, Research and Development Department Apr 2015 General Manager, Technology Development Department Oct 2015 General Manager, Technology Division No. 1 Jun 2018 Executive Officer; General Manager, Technology Division Aug 2019 Executive Officer; Plant Manager, Saitama Plant Jun 2020 Director, Executive Officer; in charge of Technology and Overseas Sales Divisions; General Manager, Technology Division Apr 2022 Director, Executive Officer; in charge of Technology and R&D Divisions; General Manager, Technology Division Jun 2023 Director, Managing Executive Officer; in charge of Production, Technology and R&D Divisions (current)
1961-07-11
Takashi MIYASAKA
Director, Managing Executive Officer, in charge of Sales Division; General Manager, Overseas Sales Department
Apr 1984 Joined the Company Oct 2013 General Manager, Paper and Pulp Sales Department No. 2 Jun 2018 Executive Officer; General Manager, Paper and Pulp Sales Division Jun 2019 Executive Officer; General Manager, Paper and Pulp Sales Division and Paper and Pulp Sales Department No. 2; General Manager, Sales Planning Department Oct 2019 Executive Officer; in charge of Sales Planning; General Manager, Paper and Pulp Sales Division Jun 2020 Director, Executive Officer; in charge of Domestic Sales; General Manager, Paper and Pulp Sales Division Apr 2022 Director, Executive Officer; in charge of Domestic and Overseas Sales; General Manager, Paper and Pulp Sales Division May 2022 Chairman, Rihuide Paper Machinery Trading (Shanghai) Co., Ltd. (current) Jun 2022 Director, Executive Officer; in charge of Sales; General Manager, Domestic Sales Division Jun 2023 Director, Managing Executive Officer; in charge of Sales Division May 2025 Director, Managing Executive Officer; in charge of Sales Division; General Manager, Overseas Sales Department (current) May 2025 Chairman, Taiwan Huierde Co., Ltd. (current)
1962-02-23
Takanori OGATA
Director
Apr 1982 Registered as Attorney-at-Law (Tokyo Bar Association) Apr 1987 Established Ogata Sogo Law Office (now Liberty Law Office) Apr 1987 Managing Attorney, Ogata Sogo Law Office (now Liberty Law Office) (current) Apr 2003 Managing Executive Officer, Resolution and Collection Corporation Oct 2007 Outside Audit & Supervisory Board Member, Ivy Cosmetics Co., Ltd. Jun 2018 Director of the Company (current) Jun 2022 Outside Director, Audit and Supervisory Committee Member, Ivy Cosmetics Co., Ltd. Jun 2023 Outside Director, Full-time Audit and Supervisory Committee Member, Ivy Cosmetics Co., Ltd. (current)
1951-08-20
Tsukasa KAWATSU
Director
Apr 1982 Joined Ministry of International Trade and Industry May 1996 First Secretary, Embassy of Japan in Italy, Ministry of Foreign Affairs Jan 1999 Counselor, Embassy of Japan in Italy, Ministry of Foreign Affairs Jul 1999 Director, Petroleum Stockpile Office, Agency for Natural Resources and Energy Jun 2000 Section Chief, Planning Division, Japan External Trade Organization Jul 2003 Section Chief, Distribution Industry Division, Commerce and Information Policy Bureau Sep 2005 General Director, General Affairs, Research Institute of Economy, Trade and Industry Jul 2010 Executive Director, National Institute of Advanced Industrial Science and Technology Jun 2013 Senior Deputy Director-General, Consumer Affairs Agency Oct 2015 Advisor, Panasonic Corporation May 2016 Senior Managing Director, Japan Foreign Trade Council, Inc. (current) Jun 2021 Director of the Company (current)
1958-07-23
Haruka ONODA
Director
Dec 2011 Registered as Attorney-at-Law (Tokyo Bar Association) Jan 2012 Joined TMI Associates May 2017 Master of Laws (LL.M.), University of California, Berkeley School of Law Feb 2018 Seconded to Clayton Utz (Australia) Dec 2018 Registered as Attorney-at-Law (New York State) Nov 2021 HR Legal, ByteDance K.K. (current) Jun 2025 Director of the Company (current)
1983-10-02
Hajime YANAOKA
Full-time Audit & Supervisory Board Member
Apr 1985 Joined the Company Oct 2014 General Manager, Accounting Department Oct 2017 General Manager, Human Resources Department Jun 2020 Full-time Audit & Supervisory Board Member (current)
1963-02-26
Yasuo ICHIHIGASHI
Audit & Supervisory Board Member
Oct 1977 Joined Shinwa Audit Corporation (now Azusa Audit LLC) Sep 2003 Chairman, Electronic Display Committee, IT Committee, Japanese Institute of Certified Public Accountants Jun 2006 Left Azusa Audit LLC Jul 2006 Established Yasuo Ichihigashi Certified Public Accountant and Tax Accountant Office Jul 2006 Office Head, Yasuo Ichihigashi Certified Public Accountant and Tax Accountant Office (current) May 2007 Outside Audit & Supervisory Board Member, Yonekyu Corporation Jun 2007 Outside Audit & Supervisory Board Member, Press Kogyo Co., Ltd. Apr 2016 Outside Audit & Supervisory Board Member, ITOHAM YONEKYU HOLDINGS INC. Jun 2016 Audit & Supervisory Board Member of the Company (current)
1954-02-24
Isao IWATA
Audit & Supervisory Board Member
Apr 1982 Joined Sanyo Shokai Ltd. Mar 2013 Director, Executive Officer, Sanyo Shokai Ltd. Apr 2014 Managing Director, Managing Executive Officer, Sanyo Shokai Ltd. Jan 2017 Representative Director, President and President Executive Officer, Sanyo Shokai Ltd. Jan 2020 Director, Sanyo Shokai Ltd. Jun 2021 Outside Director, Seabon Co., Ltd. (current) Jun 2022 Audit & Supervisory Board Member of the Company (current)
1959-03-14
Large Shareholding Reports
DOE 5 Percent Co., Ltd.
2026-10-06
3.00%→3.17%
DOE 5 Percent Co., Ltd.
2026-07-02
2.03%→2.89%
Correction filing (name/detail fix only) — ratio carried over from the original filing
DOE 5 Percent Co., Ltd.
2026-06-26
2.03%→2.89%
Kankuro UEJIMA
2026-06-12
2.35%→2.35%
UESHIMA Mikuro
2026-05-26
3.99%→2.35%
UESHIMA Mikuro
2026-05-15
3.54%→3.99%
UESHIMA Mikuro
2026-03-31
0.00%→3.54%
Nippon Paper Industries Co., Ltd.
2025-12-25
7.22%→4.16%
Annual report (as of 2026-03-31): 4.40%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-06
Large Shareholding Report
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-02
Change Report
EDINET
2026-06-26
Large Shareholding Report
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-06-24
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2026-06-12
Large Shareholding Report
EDINET
2026-05-26
Large Shareholding Report
EDINET
2026-05-15
Large Shareholding Report
EDINET
2026-03-31
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-25
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
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
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-02-24
Amended Quarterly Securities Report
Period: Jul 2021 – Sep 2021
EDINETAmended
2023-02-24
Amended Quarterly Securities Report
Period: Jul 2022 – Sep 2022
EDINETAmended
2023-02-24
Amended Quarterly Securities Report
Period: Apr 2021 – Jun 2021
EDINETAmended
2023-02-24
Amended Quarterly Securities Report
Period: Apr 2022 – Jun 2022
EDINETAmended
2023-02-24
Amended Quarterly Securities Report
Period: Oct 2021 – Dec 2021
EDINETAmended
2023-02-24
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
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