Overview
Textiles and Apparels

MATSUOKA CORPORATION

Matsuoka Corporation is a leading Japanese apparel OEM manufacturer providing end-to-end services encompassing product planning, fabric procurement, sewing/manufacturing, and logistics for SPA retailers, apparel brands, department stores, and trading companies. The company operates manufacturing facilities across China, Vietnam, Bangladesh, Indonesia, and Myanmar, offering a diverse product range including casualwear, workwear, innerwear, and technically advanced fabric processing such as moisture-permeable waterproof materials for outdoor and sportswear applications. Its competitive strengths lie in its vertically integrated production network, multi-country manufacturing footprint enabling cost and risk optimization, and specialized fabric technology capabilities developed in partnership with global outdoor and apparel brands.

Market Cap
¥24.5B
US$156M
EV
¥22.1B
US$141M
Stock¥2,335▼-0.13%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.2
x
LTM EV/EBIT
8.7
x
LTM PER
7.4
x
LTM PBR
0.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-18.4%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
24.5BUS$156MMarket Cap16.2BUS$104M+ Debt21.7BUS$139M− Cash0.59BUS$3.74M− Inv. Sec.3.72BUS$23.7M+ NCI22.1BUS$141MEV
AI Briefing
Generating insights…
Performance & Balance
Revenue 5Y (¥B)
51.1US$326M'22/362.8US$400M'23/360.2US$384M'24/370.6US$450M'25/374.3US$474M'26/3
EBITDA 5Y (¥B)
1.47US$9.37M'22/31.91US$12.2M'23/32.92US$18.6M'24/32.57US$16.4M'25/34.24US$27.0M'26/3
Net Income 5Y (¥B)
0.56US$3.57M'22/31.68US$10.7M'23/32.46US$15.7M'24/32.60US$16.6M'25/33.12US$19.9M'26/3
Capital Structure
71%
29%
EquityD/E 0.41xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
16.1US$102M9.24US$58.9M'22/315.5US$99.2M14.5US$92.6M'23/318.5US$118M14.3US$91.5M'24/320.7US$132M16.2US$104M'25/322.2US$141M14.9US$95.3M'26/3
Shareholders
Top 10 hold 46.0%
1
Matsuoka Company LLC (Godo Kaisha Matsuoka Company)
16.91%
2
Noriyuki MATSUOKA
11.95%
3
Ueda Yagi Tanshi Co., Ltd.
3.01%
4
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
2.38%
5
KURABO INDUSTRIES LTD.
2.38%
6
Mitsubishi UFJ Capital Co., Ltd.
2.14%
7
The Master Trust Bank of Japan, Ltd. (Trust Account)
1.94%
8
Custody Bank of Japan, Ltd. (Trust Account)
1.93%
9
UBS AG SINGAPORE (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.76%
10
J-Will Investment Co., Ltd.
1.58%
Management
13 officers
Noriyuki MATSUOKA
Representative Director, President and Executive Officer
Apr 1980 Joined the Company Apr 1983 General Manager, Sales Division, the Company May 1991 Director, General Manager, Sales Division, the Company Jan 1995 Senior Managing Director, General Manager, Sales Division, the Company Jun 2000 Representative Director, President, the Company Jun 2001 Chairman, Maoshihua Industrial (Group) Co., Ltd. (current) Mar 2002 Chairman, Jiaxing Tokunaga Textile Co., Ltd. (current) Sep 2005 Chairman, Shanghai Maoshihua Fashion Co., Ltd. Feb 2006 Chairman, Zhejiang Maoshihua Trading Co., Ltd. May 2009 President, TM Textiles & Garments (HK) Ltd. (current) Jul 2009 Director, TM Textiles & Garments Ltd. (current) Jul 2013 Chairman, Jiaxing Maoshihua Huawei Garment Co., Ltd. Jun 2014 Representative Director, President and Chief Executive Officer, the Company Jun 2016 Representative Director, President, the Company Jun 2018 Representative Director, President and CEO, the Company Jun 2021 Representative Director, President, the Company Jun 2022 Representative Director, President, CEO and COO, the Company Apr 2024 Representative Director, President and Executive Officer, the Company (current)
1957-01-24
Atsushi WATANABE
Director, Managing Executive Officer; Head of Business Division, General Manager of Business Division 1 and General Manager of Sales Division 3
Apr 2002 Joined the Company Apr 2017 General Manager, Sales Division 3, Sales Headquarters, the Company Jul 2018 Executive Officer, in charge of Business Division 3, the Company Jul 2019 Senior Executive Officer, in charge of Business Division 3, the Company Apr 2021 Senior Executive Officer, in charge of Business Division 1, the Company Apr 2023 Executive Officer, Deputy Head of Sales Headquarters, the Company Apr 2024 Managing Executive Officer, Head of Business Division and General Manager of Business Division 1, the Company Jun 2024 Director, Managing Executive Officer, Head of Business Division and General Manager of Business Division 1, the Company Apr 2025 Director, Managing Executive Officer, Head of Business Division, General Manager of Business Division 1 and General Manager of Sales Division 3, the Company (current)
1979-12-17
Makoto BABA
Director, Senior Executive Officer; in charge of Production Technology, Business Division 1
Apr 1975 Joined Hachi Diamond Co., Ltd. Jan 1986 Joined the Company Jun 2005 Director, General Manager of Production Control Department, the Company Apr 2006 Director, Head of Production Division, the Company Jul 2013 Director, Jiaxing Maoshihua Huawei Garment Co., Ltd. Jun 2014 Director, General Manager of Production Department and Chief Production Officer, the Company Jun 2016 Managing Director, Head of Production Division, the Company Jul 2018 Senior Executive Officer, in charge of Production, Business Division 4, the Company; Director, PT. Matsuoka Industries Indonesia Jul 2022 Senior Executive Officer, Chief Procurement Officer, the Company Apr 2023 Executive Officer, Chief Procurement Officer, the Company Jun 2023 Director, Chief Procurement Officer (in charge of Production Division), the Company Apr 2024 Director, Senior Executive Officer, in charge of Production Technology, Business Division, the Company Apr 2025 Director, Senior Executive Officer, in charge of Production Technology, Business Division 1, the Company (current)
1957-02-25
Hiroyuki KANEKO
Director, Senior Executive Officer; General Manager of Accounting and Finance Department
Apr 2005 Joined Sazaby, Inc. (now Sazaby League, Ltd.) Oct 2016 Joined the Company Apr 2017 General Manager, Accounting and Finance Department, Administration Division, the Company Jul 2018 Executive Officer, in charge of Administration Department, the Company Apr 2021 Executive Officer, in charge of Administration Division, the Company Jun 2021 Director, in charge of Administration Division, the Company Jun 2022 Director, CFO (in charge of Administration Division), the Company Apr 2023 Director, CFO (in charge of Group Administration Division), the Company Apr 2024 Director, Senior Executive Officer, in charge of Accounting and Finance, Administration Division, the Company Apr 2025 Director, Senior Executive Officer, General Manager of Accounting and Finance Department, the Company (current)
1969-12-10
Tatsunori MATSUOKA
Director, Senior Executive Officer; General Manager of General Affairs and Human Resources Department
May 2006 Joined the Company Jan 2011 Managing Director, MK Apparels Limited Jul 2012 Executive Officer, in charge of Southeast Asia region, the Company Jul 2015 Executive Officer, General Manager of Overseas Business Division, the Company Jun 2016 Director, the Company Jul 2018 Senior Executive Officer, Business Division 1, the Company Apr 2021 Senior Executive Officer, Business Division 2, the Company Apr 2023 Executive Officer, in charge of China region, the Company Apr 2024 Senior Executive Officer, General Manager of General Affairs Department, Administration Division, the Company Jun 2024 Director, Senior Executive Officer, General Manager of General Affairs Department, Administration Division, the Company Apr 2025 Director, Senior Executive Officer, General Manager of General Affairs and Human Resources Department, the Company (current)
1983-05-13
Fumihiro KURIYAMA
Full-time Audit & Supervisory Board Member
Apr 1975 Joined World Co., Ltd. Apr 2004 Representative Director, World Industry Co., Ltd. Jun 2005 Executive Officer, World Co., Ltd. Dec 2008 Chairman, Shanghai World Joint Garment Co., Ltd.; Chairman, Shanghai World Fashion Trading Co., Ltd. Jun 2014 Director, Vice President and Chief Operating Officer, the Company Jun 2016 Advisor, the Company Jun 2017 Audit & Supervisory Board Member, the Company (current)
1952-11-03
Tetsuhiro MATSUOKA
Director, Senior Executive Officer; General Manager of Corporate Planning Department and General Manager of Production Technology Department, Business Division 1
Apr 1996 Joined World Co., Ltd. Apr 2017 Joined Tsuneishi LR Co., Ltd. Jun 2019 Joined the Company Apr 2021 General Manager of Planning Department, Business Division 1, the Company Apr 2023 Executive Officer, Deputy Head of Production Division, the Company Apr 2024 Executive Officer, General Manager of Production Technology Department, Business Division, the Company Apr 2025 Executive Officer, General Manager of Business Strategy Office, Corporate Planning Department, and General Manager of Production Technology Department, Business Division 1, the Company Apr 2026 Senior Executive Officer, General Manager of Corporate Planning Department and General Manager of Production Technology Department, Business Division 1, the Company (current) Jun 2026 Director, Senior Executive Officer, General Manager of Corporate Planning Department and General Manager of Production Technology Department, Business Division 1, the Company (scheduled)
1973-05-17
Takashi EJIMA
Director
Aug 1996 Joined Okano High-Tech Co., Ltd. (now O.H.T. Co., Ltd.) Jul 2008 Director, General Manager of Jig Manufacturing Department, Inspection Systems Business Division, O.H.T. Co., Ltd. Dec 2008 Representative Director, O.H.T. Co., Ltd. Oct 2013 Director, General Manager of Sales Division, O.H.T. Co., Ltd. Jan 2015 Joined Seiwa Co., Ltd., General Manager of Business Management Division Jun 2015 Audit & Supervisory Board Member, the Company Jun 2017 Director, the Company (current) Aug 2023 Vice President, Director, Shimoe Co., Ltd.
1971-10-22
Peter NIKLAI
Director
Apr 2000 Joined Japan Capgemini Ernst & Young Co., Ltd. May 2006 Joined Credit Suisse Securities (Japan) Ltd. Apr 2008 Joined Shane Corporation Japan May 2010 Joined Berlitz Corporation Jun 2012 Joined Innovation Network Corporation of Japan (now INCJ, Ltd.) Apr 2018 Managing Director, INCJ, Ltd. Nov 2020 Managing Director, JIC Capital Co., Ltd. Nov 2023 Executive Officer, Managing Director, INCJ, Ltd. May 2025 Senior Director, Renesas Electronics Corporation (current) Jun 2025 Director, the Company (current)
1973-12-19
Akimitsu FUJII
Director
Apr 1991 Joined Development Bank of Japan (now Development Bank of Japan Inc.) Jun 2009 Joined Medical Corporation Ouzyujikai Mar 2011 Managing Director, Ouzyujikai Co., Ltd. Oct 2018 Joined Lotus Co., Ltd. Mar 2019 Chief of President's Office, Lotus Co., Ltd. May 2022 Chief of Planning Office, Administration Department, Lotus Co., Ltd. Jan 2026 CFO, Ouzyujikai Co., Ltd. (current) Jun 2026 Director, the Company (scheduled)
1968-07-05
Kenji UENO
Full-time Audit & Supervisory Board Member
Apr 1975 Joined Toray Industries, Inc. Mar 2003 Assistant General Manager, Toray Industries (China) Investment Co., Ltd. (Tokyo office); Chief, Textile Business Planning Group, Textile Business Division, Toray Industries, Inc. Jun 2006 General Manager, Overseas Textile Business Department, Textile Business Division, Toray Industries, Inc. Jun 2008 Head of International Division and General Manager of International Department, Toray Industries, Inc. Jun 2009 Director, Head of International Division and General Manager of International Department, Toray Industries, Inc. Jun 2010 Director, in charge of Overseas Textile Business, Textile Business Division, Toray Industries, Inc. Jun 2011 Managing Director, in charge of Overseas Textile Business, Textile Business Division, Toray Industries, Inc. Jun 2016 Retired as Managing Director, Toray Industries, Inc. Jul 2020 Advisor, the Company Jun 2025 Audit & Supervisory Board Member, the Company (current)
1951-04-03
Koichiro OKA
Audit & Supervisory Board Member
Oct 2004 Registered as attorney-at-law Jul 2010 Audit & Supervisory Board Member, Nitto Seimo Co., Ltd. Oct 2010 Managing Attorney, Oka Koichiro Law Office (now Setouchi Chuo Law Office) (current) Jun 2012 Audit & Supervisory Board Member, the Company (current) Jul 2015 Outside Director, Nitto Seimo Co., Ltd. (current)
1975-04-24
Hisayuki MATSUMOTO
Audit & Supervisory Board Member
Apr 1994 Joined Shinyo Kumiai Kansai Kogin Oct 2000 Joined Chuo Aoyama Audit Corporation Apr 2004 Registered as Certified Public Accountant Oct 2005 Joined KPMG FAS Co., Ltd. Jan 2010 Representative Director, Stand by C Co., Ltd. (current) Oct 2014 Registered as Certified Tax Accountant Jun 2017 Audit & Supervisory Board Member, the Company (current)
1971-08-02
Large Shareholding Reports
Matsuoka Company LLC
2026-10-07
16.87%→16.76%
Annual report (as of 2026-03-31): 16.91%
Matsuoka Company LLC
2026-09-17
16.87%→16.76%
Annual report (as of 2026-03-31): 16.91%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-09-17
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-03-07
Q3 Earnings Flash
FY ending Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
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
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINETAmended
2022-02-18
Amended Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-28
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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) →