Overview
Textiles and Apparels

ATSUGI CO.,LTD.

ATSUGI Co., Ltd. is a Japanese apparel manufacturer specializing in legwear and innerwear products, including pantyhose, tights, stockings, socks, and foundation garments, sold under the ATSUGI brand. The company operates an integrated business model encompassing manufacturing, procurement, and sales, with production facilities in Japan and China (Yantai), and sales channels across Japan and China. In addition to its core textile segment, the company conducts real estate sales and leasing, caregiving products distribution, group home operations, and solar power generation.

Market Cap
¥16.0B
US$102M
EV
¥8.60B
US$54.9M
Stock¥998▼-1.29%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
0.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-36.3%pt
10012345
Oct 23, 25 – Oct 23, 26StockTOPIX
1Nov 5, 25Asset Value Investors Limited changed stake (22.29%→23.95%)
2Nov 19, 25Asset Value Investors Limited changed stake (23.95%→25.25%)
3Dec 5, 25Asset Value Investors Limited changed stake (25.25%→26.35%)
4Dec 17, 25Asset Value Investors Limited changed stake (26.35%→27.44%)
5Jan 20, 26Asset Value Investors Limited changed stake (27.44%→28.47%)
MC → EV Bridge
16.0BUS$102MMarket Cap0.48BUS$3.04M+ Debt3.59BUS$22.9M− Cash4.27BUS$27.2M− Inv. Sec.8.60BUS$54.9MEV
AI Briefing
ATSUGI: 75-year legwear/innerwear leader (pantyhose, tights, socks) with real estate, caregiving and solar side-lines. FY26/3 revenue ¥21.5B, operating loss ¥-1.0B — persistent losses across all four years shown, margins stuck negative. Market cap ¥16.2B vs EV ¥8.8B reflects heavy net cash cushion; core textile business remains structurally unprofitable, shareholder base includes strategic holders Toray and Onward.
Performance & Balance
Revenue 5Y (¥B)
21.4US$137M'22/320.5US$131M'23/321.2US$135M'24/321.9US$140M'25/321.5US$137M'26/3
EBITDA 5Y (¥B)
-1.86-US$11.9M'22/3-1.68-US$10.7M'23/30.00US$0.03M'24/3-0.25-US$1.62M'25/3-0.44-US$2.79M'26/3
Net Income 5Y (¥B)
-1.83-US$11.7M'22/3-1.22-US$7.75M'23/31.33US$8.49M'24/3-0.38-US$2.40M'25/3-1.14-US$7.25M'26/3
Capital Structure
99%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
13.5US$86.2M1.85US$11.8M'22/311.4US$72.8M1.38US$8.79M'23/39.95US$63.4M0.91US$5.80M'24/39.11US$58.1M1.06US$6.73M'25/37.99US$50.9M0.46US$2.95M'26/3
Shareholders
Top 10 hold 29.2%
1
TORAY INDUSTRIES,INC.
6.40%
2
SG/UCITS V/INV (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
4.60%
3
ONWARD HOLDINGS CO.,LTD.
3.82%
4
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
3.24%
5
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
2.59%
6
ASAHI KASEI CORPORATION
2.15%
7
BNP PARIBAS SINGAPORE/2S/JASDEC/UOB KAYHIAN PRIVATE LIMITED (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
1.78%
8
Enmen Co., Ltd.
1.59%
9
Challenge No. 2 Investment Limited Partnership
1.56%
10
Sumitomo Mitsui Banking Corporation
1.52%
Management
9 officers
Shinji NIKKO
Representative Director, President and Executive Officer
Apr 1979: Joined Teijin Shoji Co., Ltd. (now Teijin Frontier Co., Ltd.) Jun 2003: President, N.I. Teijin Shoji (Thailand) Co., Ltd. Apr 2008: President, N.I. Teijin Shoji (U.S.A.) Inc. Jun 2011: Director, General Manager of Industrial Textiles and Vehicle Materials Division, Teijin Shoji Co., Ltd. (now Teijin Frontier Co., Ltd.) Apr 2012: Director, General Manager of Industrial Materials Division, Teijin Shoji Co., Ltd. (now Teijin Frontier Co., Ltd.) Jun 2013: Managing Director, General Manager of Industrial Materials Division, Teijin Frontier Co., Ltd. Jun 2014: Senior Managing Director, General Manager of Apparel Textiles Division II, Teijin Frontier Co., Ltd. Apr 2015: Executive Officer, Teijin Group; General Manager, Products Business Group; Representative Director, President, Teijin Frontier Co., Ltd. Apr 2017: Senior Executive Officer, Teijin Group; General Manager, Textiles and Products Business Group; Representative Director, President, Teijin Frontier Co., Ltd. Apr 2021: Director and Special Advisor, Teijin Frontier Co., Ltd. Jun 2021: Special Advisor, Teijin Frontier Co., Ltd. Apr 2022: Advisor, the Company Jun 2022: Representative Director, President, the Company (current) Jun 2022: President and Executive Officer, the Company (current)
1956-12-12
Masahiro FURUKAWA
Director, Executive Officer, General Manager of Administration Division
Apr 2001: Joined the Company Apr 2010: General Manager, Atsugi Socks (Yantai) Co., Ltd. Apr 2016: General Manager, Accounting Department, Administration Division, the Company Apr 2020: Executive Officer, the Company (current); overall in charge of administration Apr 2021: General Manager, Corporate Planning Office, the Company Jun 2022: Director, the Company (current) Oct 2022: General Manager, Administration Division, the Company (current) General Manager, Corporate Planning Department, the Company
1979-01-02
Satoshi NAKAMURA
Director, Executive Officer, General Manager of Leg Business Division
Apr 1987: Joined Atsugi Nylon Shoji Co., Ltd. Apr 2003: General Manager, Second Chain Store Branch, the Company Apr 2006: Executive Officer, the Company Apr 2008: Overall in charge of Chain Stores, the Company Jun 2008: Director, the Company Apr 2010: General Manager, Sales Department, the Company Apr 2011: Deputy General Manager, Sales Division; General Manager, Sales Department, the Company Apr 2012: General Manager, Sales Division, the Company Apr 2013: Deputy General Manager, Production Division, the Company Apr 2014: Deputy General Manager, Production Division; General Manager, Production Control Department, the Company Apr 2015: Overall in charge of Business and General Manager, Technology Development Department, Textile Business Division, the Company Apr 2016: Overall in charge of Business, Textile Business Division, the Company Apr 2019: Overall in charge of Sales and General Manager, Overseas Strategy Department, the Company Apr 2020: Overall in charge of Research and Development, the Company Apr 2021: General Manager, Merchandise Department, the Company Apr 2022: General Manager, Direct Business Division, the Company Apr 2023: General Manager, Products Business Division IV, the Company; Executive Officer, the Company (current); General Manager, Leg Business Division, the Company (current) Jun 2024: Director, the Company (current)
1964-09-26
Toshio TAKANASHI
Director
Apr 1977: Joined Asahi Kasei Kogyo Co., Ltd. (now Asahi Kasei Corporation) Apr 2009: Executive Officer, Asahi Kasei Fibers Corporation (now Asahi Kasei Corporation) Apr 2011: Director and Managing Executive Officer, Asahi Kasei Fibers Corporation (now Asahi Kasei Corporation) Apr 2012: Representative Director, President and Executive Officer, Asahi Kasei Fibers Corporation (now Asahi Kasei Corporation) Apr 2016: Senior Managing Executive Officer, Asahi Kasei Corporation; General Manager, Textiles Business Division Apr 2017: Representative Director and Executive Vice President Executive Officer, Senko Co., Ltd.; General Manager, International Logistics Business Division Jun 2020: Director, the Company (current) Jun 2021: Director, Senko Group Holdings Co., Ltd. Jun 2023: Chairman and Director, Senko Shoji Co., Ltd. (formerly SENKO International Trading Co., Ltd.)
1954-10-20
Masatoshi OHARA
Director
Apr 1979: Registered as attorney; joined Yoshikawa Law Office (now Kikkawa Law Office) Feb 1987: Registered as attorney in New York State, USA Jan 1988: Partner, Kikkawa Law Office (current) Apr 2017: President, Osaka Bar Association; Vice President, Japan Federation of Bar Associations Jan 2018: Outside Director, Teijin Frontier Co., Ltd. Jun 2019: Outside Director, Sawai Pharmaceutical Co., Ltd. Apr 2021: Outside Director, Sawai Group Holdings Co., Ltd. (current) Sep 2022: Outside Audit & Supervisory Board Member, Shibuya Corporation (current) Jun 2023: Director, the Company (current)
1951-04-25
Mari INOUE
Director
Oct 1991: Special Researcher, Science and Technology Agency May 2000: Associate Professor, Department of Human Environmental Sciences, Faculty of Human Development, Kobe University Apr 2007: Associate Professor, Graduate School of Human Development and Environment, Kobe University May 2010: Councillor, Japan Society of Home Economics Jun 2012: Director, The Society of Fiber Science and Technology, Japan Feb 2013: Professor, Graduate School of Human Development and Environment, Kobe University (current) Jun 2014: Vice President and Director, The Textile Machinery Society of Japan Jun 2019: Outside Director, Teijin Frontier Co., Ltd. Apr 2020: Principal, Kobe University Secondary School Jun 2020: President and Representative Director, The Textile Machinery Society of Japan Jun 2024: Director, the Company (current)
1964-03-17
Tomoaki SATO
Standing Audit & Supervisory Board Member
Apr 1983: Joined Atsugi Nylon Shoji Co., Ltd. Apr 2004: General Manager, Management Planning Office, the Company Apr 2007: Executive Officer, the Company; Assistant to General Manager, Production Division Oct 2007: General Manager, Leg Production Planning Department, the Company Apr 2008: Deputy General Manager, Production Division, the Company Jun 2008: Director, the Company Apr 2009: General Manager, Production Division, the Company Jun 2009: Chairman, Yantai Atsugi Huarun Socks Co., Ltd. (now Yantai Atsugi Knitting Co., Ltd.) Jun 2015: Standing Audit & Supervisory Board Member, the Company (current)
1960-01-15
Tsunehiro OGAWA
Audit & Supervisory Board Member
Apr 1978: Joined Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Aug 2009: Vice Chairman and Executive Director, Japan Chemical Fibers Association; Vice Chairman, Japan Textile Federation Apr 2010: Visiting Professor, Graduate School of Asia Pacific Studies, Waseda University Oct 2012: Special Advisor, Teijin Pharma Limited Apr 2014: Managing Executive Officer, Teijin Group; in charge of company-wide special assignments and Investigation and External Affairs Group Apr 2019: Advisor, Teijin Limited; Special Advisor, Teijin Frontier Co., Ltd. Jul 2019: Chairman, Japan Paper Association (current) Jun 2023: Audit & Supervisory Board Member, the Company (current)
1955-12-25
Takae AKATSUKA
Audit & Supervisory Board Member
Oct 2000: Joined PricewaterhouseCoopers Tax Office (now PwC Tax Japan) Apr 2004: Registered as Certified Public Accountant Jul 2006: Nikko Citigroup Securities Ltd. (now Citigroup Securities Co., Ltd.) May 2008: Deloitte Tohmatsu FAS Co., Ltd. (now Deloitte Tohmatsu LLC) Feb 2010: Registered as Certified Tax Accountant Oct 2010: General Manager, Business Strategy Promotion Department, Coca-Cola (Japan) Co., Ltd. Aug 2016: Fair Consulting Tax Corporation Feb 2022: Representative, Premier International Tax Office (current) Jun 2023: Outside Director, Leon Automatic Co., Ltd. (current); Audit & Supervisory Board Member, the Company (current) Jun 2024: Outside Director, Enplas Corporation (current)
1970-03-19
Large Shareholding Reports
Asset Value Investors Limited
2026-01-20
27.44%→28.47%
Asset Value Investors Limited
2025-12-17
26.35%→27.44%
Asset Value Investors Limited
2025-12-05
25.25%→26.35%
Asset Value Investors Limited
2025-11-19
23.95%→25.25%
Asset Value Investors Limited
2025-11-05
22.29%→23.95%
Asset Value Investors Limited
2025-10-07
21.22%→22.29%
Asset Value Investors Limited
2025-09-17
20.19%→21.22%
Asset Value Investors Limited
2025-08-06
19.01%→20.19%
Asset Value Investors Limited
2025-06-24
17.89%→19.01%
Asset Value Investors Limited
2025-05-22
16.70%→17.89%
Asset Value Investors Limited
2025-05-09
15.65%→16.70%
Asset Value Investors Limited
2025-02-20
14.61%→15.65%
Asset Value Investors Limited
2025-02-04
13.25%→14.61%
Asset Value Investors Limited
2025-01-23
12.10%→13.25%
Asset Value Investors Limited
2024-12-26
11.01%→12.10%
Asset Value Investors Limited
2024-12-09
9.95%→11.01%
Asset Value Investors Limited
2024-11-27
8.89%→9.95%
Asset Value Investors Limited
2024-10-22
7.88%→8.89%
Asset Value Investors Limited
2024-10-03
6.86%→7.88%
Asset Value Investors Limited
2024-09-12
5.76%→6.86%
Asset Value Investors Limited
2024-08-08
5.76%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-20
Large Shareholding Report
EDINET
2025-12-17
Large Shareholding Report
EDINET
2025-12-05
Large Shareholding Report
EDINET
2025-11-19
Large Shareholding Report
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-11-05
Large Shareholding Report
EDINET
2025-10-07
Large Shareholding Report
EDINET
2025-09-17
Large Shareholding Report
EDINET
2025-08-06
Large Shareholding Report
TDnet
2025-07-30
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-24
Large Shareholding Report
EDINET
2025-05-22
Large Shareholding Report
EDINET
2025-05-09
Large Shareholding Report
EDINET
2025-02-20
Large Shareholding Report
EDINET
2025-02-04
Large Shareholding Report
TDnet
2025-01-30
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2025-01-23
Large Shareholding Report
EDINET
2024-12-26
Large Shareholding Report
EDINET
2024-12-09
Large Shareholding Report
EDINET
2024-11-27
Large Shareholding Report
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2024-10-22
Large Shareholding Report
EDINET
2024-10-03
Large Shareholding Report
EDINET
2024-09-12
Large Shareholding Report
EDINET
2024-08-08
Large Shareholding Report
TDnet
2024-07-29
Q1 Earnings Flash
FY ending Mar 2025
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →