Overview
Chemicals

TOMOEGAWA CORPORATION

Tomoegawa Corporation (TOMOEGAWA) is a Japanese specialty materials company operating across five core segments: Toner, Semiconductor & Display, Functional Sheet, Security Media, and New Development. The company manufactures and sells products including toner for multifunction printers and copiers, optical films for FPDs, semiconductor mounting tapes, electrostatic chucks, electrical insulating paper, magnetic recording media, and security documents such as negotiable instruments and cards. TOMOEGAWA leverages proprietary coating, papermaking, and fine particle technologies to serve a global customer base spanning office equipment manufacturers, semiconductor and IC makers, display film producers, and railway/transportation operators.

Market Cap
¥9.63B
US$61.4M
EV
¥15.8B
US$101M
Stock¥982▲+2.29%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.5
x
LTM EV/EBIT
6.7
x
LTM PER
10.2
x
LTM PBR
0.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-0.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
9.63BUS$61.4MMarket Cap15.3BUS$97.4M+ Debt6.15BUS$39.2M− Cash7.86BUS$50.1M− Inv. Sec.4.93BUS$31.5M+ NCI15.8BUS$101MEV
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Performance & Balance
Revenue 5Y (¥B)
32.8US$209M'22/334.2US$218M'23/333.7US$215M'24/334.4US$220M'25/335.6US$227M'26/3
EBITDA 5Y (¥B)
3.70US$23.6M'22/33.67US$23.4M'23/33.00US$19.1M'24/33.06US$19.5M'25/33.55US$22.6M'26/3
Net Income 5Y (¥B)
1.65US$10.5M'22/31.45US$9.25M'23/30.59US$3.79M'24/30.75US$4.78M'25/30.95US$6.03M'26/3
Capital Structure
55%
45%
EquityD/E 0.83xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
9.85US$62.8M12.5US$79.7M'22/39.37US$59.7M12.5US$79.9M'23/311.3US$72.0M12.7US$80.8M'24/311.2US$71.7M14.0US$89.4M'25/312.4US$79.3M15.3US$97.4M'26/3
Shareholders
Top 10 hold 55.5%
1
TOPPAN Holdings Inc.
11.61%
2
Sakae Shigyo Co., Ltd.
7.14%
3
Inoue Holdings Co., Ltd.
6.44%
4
TOMOEGAWA CORPORATION Business Partners' Stock Ownership Association
5.72%
5
Suzuyo & Co., Ltd.
5.08%
6
Mitsui Chemicals,Inc.
4.97%
7
Azuma Shigyo Co., Ltd.
4.72%
8
Sanko Co., Ltd.
4.57%
9
Toei Fudosan Co., Ltd.
3.01%
10
Yuji MIZUNO
2.26%
Management
8 officers
Yoshio INOUE
Representative Director, Chairman, CEO
Apr 1987 Joined Nippon Kogyo Bank, Ltd. (now Mizuho Bank, Ltd.) Mar 1998 Joined the Company Jun 1999 Director of the Company Mar 2000 Managing Director of the Company Jun 2002 Representative Director, President of the Company Jan 2003 CEO of the Company (current) Jun 2007 Outside Director, Nihon Yamamura Glass Co., Ltd. Jun 2012 Outside Director, Toda Kogyo Corp. May 2014 Director and Advisor, Shoei Printing Co., Ltd. Jun 2016 Outside Director, Nissei Build Kogyo Co., Ltd. Apr 2017 Chairman, Johoku Gakuen Educational Corporation (current) May 2018 Chairman of the Board, Shoei Printing Co., Ltd. (current) Oct 2018 Outside Director, Space Value Holdings Co., Ltd. Apr 2024 Director, TOMOEGAWA AURA INDIA PVT. LTD. Apr 2026 Representative Director, Chairman of the Company (current)
1964-11-08
Yusuke INOUE
Representative Director, President, COO and CTO
Apr 1997 Joined Mitsubishi Corporation Apr 2006 Joined the Company Apr 2009 Director, Tomoegawa (Hong Kong) Co., Ltd. Apr 2009 Director, TOMOEGAWA (U.S.A.) INC. May 2011 Representative Director, President, Shoei Printing Co., Ltd. May 2011 Director, Shoei Printing (Hong Kong) Co., Ltd. May 2011 Director, Nihon Card Co., Ltd. May 2011 Representative Director, President, Daifuku Card Co., Ltd. May 2014 Executive Officer and General Manager, Sales Promotion Division, the Company May 2014 Representative Director, Chairman, Shoei Printing Co., Ltd. Sep 2014 Director, TFC Co., Ltd. (merged into Zeon Corporation in Apr 2020) Apr 2016 Senior Executive Officer and General Manager, Business Development Division, the Company Apr 2017 Managing Executive Officer and CTO of the Company (CTO, current) Jun 2017 Director of the Company May 2018 Director, Shoei Printing Co., Ltd. Apr 2020 General Manager, iCas Company and Development Division, the Company May 2021 Chairman, Sanwa Shiko Co., Ltd. May 2021 Chairman, Nihon Rika Seishi Co., Ltd. (now NichiRica Co., Ltd.) (current) Apr 2022 Senior Managing Executive Officer, the Company May 2023 Director, Sanwa Shiko Co., Ltd. Apr 2024 General Manager, iCas Company, the Company May 2024 Chairman, Sanwa Shiko Co., Ltd. (current) Apr 2025 In charge of Technology Division, the Company Apr 2026 Representative Director, President and COO of the Company (current)
1973-10-22
Masaaki YAMAGUCHI
Director, Senior Managing Executive Officer, CFO, General Manager of Corporate Management Division
Apr 1986 Joined Nippon Steel Corporation Jan 2003 Joined Asahi Pretec Corp. (now Japan Waste Co., Ltd.) Jul 2006 Joined the Company Apr 2009 Executive Officer and General Manager, Corporate Strategy Division, the Company Apr 2014 Managing Executive Officer and CFO, the Company May 2014 In charge of TTOF and TFC, the Company Jun 2014 Director of the Company (current) Jun 2014 Chairman, Compliance Committee, the Company Aug 2014 Director, Risun Holdings Co., Ltd. May 2017 Director, Shoei Printing Co., Ltd. Jan 2018 Representative Director, President, Shoei Printing Co., Ltd. Oct 2020 Managing Executive Officer, CFO and General Manager, Corporate Strategy Division, the Company Apr 2021 Senior Managing Executive Officer, CFO and General Manager, Corporate Strategy Division, the Company (Senior Managing Executive Officer and CFO, current) Apr 2021 Director, Shoei Printing Co., Ltd. Apr 2025 In charge of TTOF, the Company (current) Apr 2026 General Manager, Corporate Management Division and in charge of Corporate Planning Division, the Company (current) Apr 2026 Director, TOMOEGAWA AURA INDIA PVT. LTD. (current)
1963-03-15
Ryuichi HAYASHI
Director
Feb 1987 Joined DuPont Japan Limited (now DuPont Japan Ltd.) Mar 1988 Seconded to E.I. du Pont de Nemours and Company, The Experimental Station Polymer Products Department Apr 1994 Manager, Utsunomiya Technical Office, R&D Department, Synthetic Resin Business Division, DuPont Japan Limited Jan 1998 General Manager, R&D Department, Engineering Polymers Business Division, DuPont Japan Limited Jul 2001 General Manager, Electrical and Electronics Department, Sales Department, Engineering Polymers Business Division, DuPont Japan Limited Apr 2006 Regional Development Manager, Asia Pacific, Engineering Polymers Business Division, DuPont Japan Limited Nov 2007 Manager, President's Office and General Manager, Corporate Planning Department, DuPont K.K. (now DuPont Japan Ltd.) Nov 2009 Executive Officer in charge of Technology, R&D and Corporate Planning, DuPont K.K. Sep 2014 Managing Executive Officer, General Manager, Technology Development Division; in charge of Safety, Health and Environment Department, Product Stewardship & Regulatory, and Industrial Biosciences Business Division, DuPont K.K. Jun 2016 Advisor, the Company Sep 2016 Professor, Shibaura Institute of Technology Jun 2017 Outside Director, the Company Jun 2019 Director, the Company; in charge of Imaging Materials Business Division and Business Development Apr 2020 Managing Executive Officer, General Manager, Powder Technology Company, the Company Apr 2021 Specially Appointed Professor, Hiroshima University (current) Apr 2023 Senior Managing Executive Officer, General Manager, Powder Technology Company, the Company Apr 2024 Assistant to the President, the Company (current) Apr 2025 In charge of Business Division, the Company (current) Apr 2026 In charge of Technology Division, the Company (current)
1958-12-14
Hitoshi ENDO
Director
Apr 1984 Joined Toppan Printing Co., Ltd. (now TOPPAN Holdings Inc.) Apr 2005 General Manager, Business Strategy Department, Business Strategy Division, Electronics Business Unit, Toppan Printing Apr 2010 General Manager, Technology Strategy Department, Technology Management Center, Manufacturing, Technology and R&D Division, and Center Manager, Business Promotion Center, Toppan Printing Apr 2011 Center Manager, Business Development Center, Business Development and R&D Division, Toppan Printing Apr 2016 Representative Director, President, Altas Technology Corporation Apr 2019 Executive Officer, General Manager, Altas Business Department, Electronics Business Unit, Toppan Printing Jul 2019 Executive Officer, General Manager, Altas Business Department, Electronics Business Unit, and General Manager, Technology Strategy Office, Toppan Printing Oct 2019 Executive Officer, General Manager, Technology Strategy Office, Toppan Printing Apr 2020 Executive Officer, General Manager, Technology Strategy Office, and General Manager, Business Development Division, Toppan Printing Jun 2020 Outside Director, the Company (current) Apr 2021 Managing Executive Officer, General Manager, Technology Strategy Office, and General Manager, Business Development Division, Toppan Printing Apr 2022 Managing Executive Officer, General Manager, Technology Strategy Office, General Manager, Business Development Division, and in charge of Intellectual Property Division, Toppan Printing Oct 2023 Managing Executive Officer, General Manager, Technology Strategy Office, General Manager, Business Development Division, and in charge of Intellectual Property Division, TOPPAN Holdings Inc. Oct 2023 Managing Executive Officer, General Manager, Technology Strategy Office, General Manager, Business Development Division, and in charge of Intellectual Property Division, TOPPAN Inc. Apr 2026 Managing Executive Officer, in charge of Business Development Division, TOPPAN Holdings Inc. (current) Apr 2026 Managing Executive Officer, in charge of Business Development Division, TOPPAN Inc. (current)
1960-04-17
Noriko OMURO
Director (Audit and Supervisory Committee Member)
Apr 1987 Joined Tsuzuki Denki Kogyo Co., Ltd. (now Tsuzuki Denki Co., Ltd.) Oct 1993 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Apr 1998 Registered as Certified Public Accountant Jul 2015 Seconded to the Company, Accounting Group, Corporate Strategy Division Apr 2018 Joined the Company, Senior Staff, Accounting Group, Corporate Strategy Division Jul 2019 Auditor, Tomoegawa Imaging Technology (Huizhou) Co., Ltd. Jul 2019 Auditor, Nissai Imaging Technology (Jiujiang) Co., Ltd. Jul 2019 Auditor, Tomoegawa (Guangzhou) International Trade Co., Ltd. Jul 2019 Director, Risun Holdings Co., Ltd. Apr 2022 Senior Staff, Office of General Manager, Corporate Strategy Division, the Company Jun 2024 Director (Audit and Supervisory Committee Member) of the Company (current)
1964-07-14
Masahiro SAMEJIMA
Director (Audit and Supervisory Committee Member)
Apr 1985 Joined Fujikura Ltd. Mar 1992 Joined IBM Japan, Ltd. Mar 1992 Registered as Patent Attorney Apr 1999 Registered as Attorney at Law Mar 2000 Joined Matsuo Sogo Law Office (now Matsuo Sogo Law Office, Attorneys at Law) Jul 2004 Founding Representative Partner, Uchida & Samejima Law Office (now Uchida & Samejima Law Office, Attorneys at Law) (current) Jun 2005 Outside Corporate Auditor, the Company Jun 2016 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1963-01-08
Kenichiro SUZUKI
Director (Audit and Supervisory Committee Member)
Apr 2000 Joined Nippon Yusen Kabushiki Kaisha (NYK Line) Jul 2000 Director, Suzuyo & Co., Ltd. (current) Nov 2000 Director, Suzuyo Co., Ltd. Apr 2013 Senior Managing Director, Suzuyo Co., Ltd. Apr 2013 President, SSK Foods Co., Ltd. Apr 2015 Chairman, SSK Foods Co., Ltd. (current) Jun 2015 Outside Corporate Auditor, the Company Nov 2015 President, Suzuyo Co., Ltd. (current) Nov 2015 President, Suzuyo Holdings Co., Ltd. Jun 2016 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Jan 2018 Chairman, S-Pulse Co., Ltd. (current) Nov 2018 President, Suzuyo Research Institute Co., Ltd. (current) Dec 2019 Chairman, Shimizu Foods Co., Ltd. (current) Nov 2020 Chairman, Suzuyo Holdings Co., Ltd. (current) Feb 2021 Chairman, Suzuyo Group Finance Co., Ltd. (current) Mar 2022 Chairman, Suzuyo Management Services Co., Ltd. (current) Jun 2022 Representative Director, Suzuyo Kosan Co., Ltd. (current) Jun 2022 Chairman, Suzuyo System Technology Co., Ltd. (current) Oct 2023 Representative Director, Refer System Japan Co., Ltd. (current) Oct 2023 Representative Director, Tosai Unyu Co., Ltd. (current) Nov 2023 Chairman, Suzuyo Cargonet Co., Ltd. (current) Jun 2024 President, Shimizu Futo Co., Ltd. (current) Sep 2024 Representative Director, Surugawan Esen Co., Ltd. (current)
1975-07-13
Large Shareholding Reports
Tomoegawa Corporation Business Partners Shareholding Association, Chairman Etsuo SANPEI
2026-01-23
5.01%
Sumitomo Mitsui DS Asset Management Company, Limited
2025-08-22
3.12%→2.87%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-18
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-10
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-23
Large Shareholding Report
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
EDINET
2025-08-22
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
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
2022-08-15
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-15
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-15
Quarterly Securities Report
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