Overview
Pulp and Paper

Furubayashi Shiko Co.,Ltd.

Furubayashi Shiko is a packaging manufacturer specializing in printed paperboard containers (printed cartons) and plastic packaging materials, serving a broad range of consumer and industrial markets. The company designs, manufactures, and sells packaging products including printed cartons, packaging systems, containers, roll-fed packaging/labels, and lining containers. Operations span Japan, Taiwan, and China, with manufacturing and sales supported by a consolidated group of subsidiaries.

Market Cap
¥3.26B
US$20.8M
EV
¥0.34B
US$2.13M
Stock¥2,900▲+0.00%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
0.3
x
LTM EV/EBIT
NM
LTM PER
11.3
x
LTM PBR
0.3
x
2026-08-25 closing price basis: ranked #119 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-3B).
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+2.6%pt
100
Oct 23, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
3.26BUS$20.8MMarket Cap3.53BUS$22.5M+ Debt1.79BUS$11.4M− Cash5.51BUS$35.1M− Inv. Sec.0.84BUS$5.34M+ NCI0.34BUS$2.13MEV
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Performance & Balance
Revenue 5Y (¥B)
16.1US$103M'21/1217.1US$109M'22/1217.9US$114M'23/1218.1US$115M'24/1217.9US$114M'25/12
EBITDA 5Y (¥B)
0.61US$3.89M'21/120.92US$5.86M'22/121.04US$6.60M'23/120.83US$5.30M'24/121.13US$7.18M'25/12
Net Income 5Y (¥B)
0.14US$0.87M'21/120.33US$2.11M'22/120.44US$2.80M'23/120.25US$1.58M'24/120.32US$2.01M'25/12
Capital Structure
75%
25%
EquityD/E 0.33xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
5.40US$34.4M2.96US$18.8M'21/125.44US$34.6M2.16US$13.7M'22/126.14US$39.1M2.77US$17.7M'23/126.74US$42.9M3.64US$23.2M'24/126.79US$43.3M3.11US$19.8M'25/12
Shareholders
Top 10 hold 46.6%
1
Adachi Medical Rental Lease Co., Ltd.
10.14%
2
Keisaku KOBAYASHI
7.58%
3
Meiji Yasuda Life Insurance Company
5.33%
4
Masataka KOBAYASHI
5.16%
5
BNP PARIBAS FRANKFURT 2S/JASDEC/GERMAN RESIDENTS-OTHERS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
4.70%
6
Rengo Co.,Ltd.
3.73%
7
Akiko KOBAYASHI
3.31%
8
Yoshitaka KOBAYASHI
2.83%
9
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
1.92%
10
Furubayashi Shiko Co.,Ltd. Employee Stock Ownership Association
1.89%
Management
9 officers
Keisaku KOBAYASHI
Representative Director, Chairman and Executive Officer, Chairman of the Board of Directors
Mar 1966 Joined Furubayashi Shiko Co., Ltd. May 1982 General Manager, Sales Department, Tokyo Division Jul 1982 Director Jul 1986 Managing Director Jun 1994 Senior Managing Director Jun 2000 Director and Vice President Apr 2006 Representative Director, President Jun 2012 Representative Director, Chairman (current) Jun 2014 President and Executive Officer, Chairman of the Board of Directors Mar 2025 Chairman and Executive Officer Mar 2026 CEO (current) Significant concurrent positions: Representative Director, Fukugo Kogyo Co., Ltd.; Representative Director, Lining Container Co., Ltd.; Chairman, Taiwan Furubayashi Co., Ltd.; Chairman, Shanghai Furubayashi International Printing Co., Ltd.; Chairman, Furubayashi Shiko (Shanghai) Co., Ltd.; Chairman, Furubayashi Packaging Materials Manufacturing (Shanghai) Co., Ltd.
1942-09-26
Masataka KOBAYASHI
Representative Director, President, President and Executive Officer, Chairman of the Executive Officers Meeting
Apr 1999 Joined Furubayashi Shiko Co., Ltd. Mar 2009 General Manager, Development Division and General Manager, MD Department Jun 2009 Director Apr 2011 General Manager, Design and Planning Department Nov 2013 Managing Director, General Manager, Sales Division Jun 2014 Senior Executive Officer Jun 2015 Senior Managing Executive Officer Apr 2016 Vice President and Executive Officer Jul 2017 General Manager, Design Planning Department Apr 2020 In charge of Quality Assurance Department Jan 2022 General Manager, Production Division; in charge of DX Mar 2025 Representative Director, President (current); President and Executive Officer, Chairman of the Executive Officers Meeting Mar 2026 COO (current)
1977-02-04
Yoshitaka KOBAYASHI
Director, in charge of Internal Audit and Legal Affairs
Dec 2010 Registered as attorney-at-law Jan 2011 Joined Ofuna Law Office (currently Profession Law Corporation) Nov 2013 Non-full-time Advisor, Furubayashi Shiko Co., Ltd. Jun 2014 Director (current); in charge of Internal Audit Jan 2016 Joined Sekiuchi Law Office Jun 2019 Representative Attorney, SY Law Corporation (current) Dec 2019 In charge of Legal Affairs Mar 2026 CLO (current)
1978-06-21
Akira YONESHIMA
Director, Executive Officer, General Manager, Domestic Group Accounting Division and General Manager, Corporate Planning Department
Apr 1991 Joined Furubayashi Shiko Co., Ltd. Apr 2016 General Manager, Accounting Department Jun 2019 Executive Officer Mar 2021 General Manager, Corporate Planning Department Jul 2024 General Manager, Domestic Group Accounting Division Mar 2025 Director (current) Mar 2026 CFO (current)
1968-01-04
Kiyotsugu DOTSUTSUMI
Director
Apr 1973 Joined Sanwa Bank, Ltd. (currently MUFG Bank, Ltd.) May 1998 Head of Second Department, Tokyo Business Division, MUFG Bank, Ltd. Jan 2002 Representative Director, UFJ Staff Service Co., Ltd. (currently Mitsubishi UFJ Personnel Services Co., Ltd.) Apr 2004 Joined Soft99 Corporation; General Manager, Administration Division and Head of Personnel Planning Office Jun 2004 Director; General Manager, Administration Division and Head of Personnel Planning Office, Soft99 Corporation Jun 2005 Managing Director; General Manager, Marketing Division, Administration Division and Personnel Planning Office, Soft99 Corporation Apr 2008 Senior Managing Director, Soft99 Corporation Jun 2010 Resigned from Soft99 Corporation Jun 2011 Corporate Auditor, Furubayashi Shiko Co., Ltd. Jun 2015 Director (current)
1949-10-18
Katsumasa NAKANISHI
Director
Apr 1968 Joined Uraga Heavy Industries Co., Ltd. (currently Sumitomo Heavy Industries, Ltd.) Apr 1997 Joined Sanoyas Hishino Meisho Corporation (currently Sanoyas Holdings Corporation) Jun 1997 Director, Sanoyas Hishino Meisho Corporation Apr 1999 Managing Director, Sanoyas Hishino Meisho Corporation Apr 2000 Representative Director, Senior Managing Director, Sanoyas Hishino Meisho Corporation Jun 2003 Representative Director, Vice President, Sanoyas Hishino Meisho Corporation Jun 2007 Special Advisor, Sanoyas Hishino Meisho Corporation Jun 2008 Resigned from Sanoyas Hishino Meisho Corporation Jun 2015 Director, Furubayashi Shiko Co., Ltd. (current)
1942-09-29
Tetsuo KUWATA
Full-time Corporate Auditor
Sep 1990 Joined Furubayashi Shiko Co., Ltd. Apr 2012 General Manager, Takino Plant Apr 2014 General Manager, Production Division Jun 2014 Director and Executive Officer Apr 2019 Director Jun 2019 Corporate Auditor (current)
1958-09-12
Setsuo SUZUKI
Corporate Auditor
Oct 2001 Registered as attorney-at-law; joined Kubokui Sogo Law Office Apr 2014 Joined Akari Law Office (current) Jun 2015 Corporate Auditor, Furubayashi Shiko Co., Ltd. (current)
1967-05-05
Masaki YOSHIMURA
Corporate Auditor
Oct 2003 Joined Azusa Audit LLC Oct 2008 Joined KPMG FAS Co., Ltd. Jan 2013 Representative Director, Business Athletes Inc. (current) Jun 2014 Director, Value Added Japan Co., Ltd. (currently VAJ Digital Design Co., Ltd.) Oct 2016 Representative Director, Fulgente Inc. (current) Jul 2017 Corporate Auditor, Naito Securities Co., Ltd. (current) Jun 2019 Corporate Auditor, Furubayashi Shiko Co., Ltd. (current)
1977-03-18
Large Shareholding Reports
Arne Wolf Klaus Deussen
2026-09-03
3.42%→3.42%
Adachi Medical Rental Lease Co., Ltd.
2026-08-10
6.11%→7.06%
Annual report (as of 2026-06-30): 10.14%
Adachi Medical Rental Lease Co., Ltd.
2026-02-24
5.05%→6.11%
Annual report (as of 2026-06-30): 10.14%
Adachi Medical Rental Lease Co., Ltd.
2026-02-09
5.05%→6.11%
Annual report (as of 2026-06-30): 10.14%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-09-03
Change Report
EDINET
2026-08-10
Large Shareholding Report
TDnet
2026-08-07
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-07
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-05-13
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-19
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINETAmended
2026-02-24
Change Report
EDINET
2026-02-09
Large Shareholding Report
TDnet
2025-11-10
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-09
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-28
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-10
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 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
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-30
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-30
Annual Securities Report
EDINETAmended
2022-03-29
Amended Annual Securities Report
EDINETAmended
2022-03-29
Amended Annual Securities Report
EDINETAmended
2022-03-29
Amended Annual Securities Report
EDINETAmended
2022-03-29
Amended Annual Securities Report
EDINETAmended
2022-03-29
Amended Annual Securities Report
Period: Apr 2016 – Mar 2017
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
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