Overview
Chemicals

NIPPON SANSO HOLDINGS CORPORATION

Nippon Sanso Holdings is the world's fourth-largest supplier of industrial gases, electronic gases, and medical gases, covering more than 30 countries and regions globally. Core products include oxygen, nitrogen, argon, helium, hydrogen, specialty gases, and related equipment, serving industries such as steel, electronics/semiconductors, healthcare, and food. The group also operates the Thermos business, supplying THERMOS-branded vacuum insulated products to over 120 countries worldwide.

Market Cap
¥2,348B
US$15.0B
EV
¥3,143B
US$20.0B
Stock¥5,425▼-0.28%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.0
x
LTM EV/EBIT
14.3
x
LTM PER
16.9
x
LTM PBR
1.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-13.9%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
2,348BUS$15.0BMarket Cap933BUS$5.95B+ Debt167BUS$1.06B− Cash15.5BUS$99.1M− Inv. Sec.44.3BUS$282M+ NCI3,143BUS$20.0BEV
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Performance & Balance
Revenue 5Y (¥B)
957US$6.10B'22/31,187US$7.57B'23/31,255US$8.00B'24/31,308US$8.34B'25/31,360US$8.67B'26/3
EBITDA 5Y (¥B)
194US$1.23B'22/3225US$1.44B'23/3284US$1.81B'24/3282US$1.80B'25/3325US$2.07B'26/3
Net Income 5Y (¥B)
64.1US$409M'22/373.1US$466M'23/3106US$675M'24/398.8US$630M'25/3124US$790M'26/3
Capital Structure
58%
42%
EquityD/E 0.74xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
93.7US$598M1,112US$7.09B'22/3132US$843M1,123US$7.16B'23/3126US$804M1,111US$7.09B'24/3145US$922M903US$5.76B'25/3165US$1.05B946US$6.04B'26/3
Shareholders
Top 10 hold 72.9%
1
Mitsubishi Chemical Group Corporation
50.59%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
7.22%
3
Business Partners' Stock Ownership Association
3.49%
4
Custody Bank of Japan, Ltd. (Trust Account)
2.58%
5
JP MORGAN CHASE BANK 385642 (Standing Proxy: Mizuho Bank, Ltd.)
2.10%
6
Meiji Yasuda Life Insurance Company
2.08%
7
THE CHASE MANHATTAN BANK, N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
1.87%
8
STATE STREET BANK AND TRUST CLIENT OMNIBUS ACCOUNT OM02 505002 (Standing Proxy: Mizuho Bank, Ltd.)
1.01%
9
Mizuho Bank, Ltd.
1.00%
10
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
0.92%
Management
15 officers
Toshihiko HAMADA
Representative Director, President and CEO
Apr 1981 Joined the Company Jul 2002 Executive Vice President, Specialty Gases Technology, Matheson Tri-Gas, Inc. (now Nippon Sanso Matheson, Inc.) Oct 2005 Deputy General Manager, Semiconductor Gases Division, Electronic Materials Business Unit Apr 2006 General Manager, Semiconductor Gases Division, Electronic Materials Business Unit Jan 2010 Assistant to Head, Electronic Materials Business Unit; General Manager, Business Strategy Promotion Department Jun 2014 Managing Director, Nippon Sanso TANAKA Co., Ltd. Jun 2016 Senior Managing Director, Nippon Sanso TANAKA Co., Ltd. Jun 2017 Representative Director, President, Nippon Sanso TANAKA Co., Ltd. Jun 2020 Executive Vice President and Executive Officer (Assistant to President) Jun 2021 Representative Director, President and CEO (current)
1956-09-28
Kenji NAGATA
Director
Apr 1981 Joined the Company Jun 2009 President, National Oxygen Pte. Ltd. (now Nippon Sanso Singapore Ltd.) Jun 2013 Executive Officer, Head of Kita-Kanto Branch Apr 2016 Executive Officer, Deputy Head of Industrial Gases Business Unit; General Manager, Gas Business Division; General Manager, Product Management Division Jun 2016 Managing Executive Officer, Deputy Head of Industrial Gases Business Unit; General Manager, Gas Business Division; General Manager, Product Management Division Apr 2017 Managing Executive Officer, Head of Industrial Gases Business Unit Jun 2018 Director and Senior Managing Executive Officer, Head of Industrial Gases Business Unit Oct 2020 Director (current) Representative Director, President, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) (current)
1959-02-28
Raul GIUDICI
Director
Sep 1995 Joined Rivoira S.p.A. (now Nippon Sanso Italia S.r.l.) Mar 2004 Director, Marketing and Bulk Sales Development, Rivoira S.p.A. Feb 2007 Director, Marketing Europe, Praxair Euroholding S.L. Jan 2010 Director, Sales and Marketing Italy, Rivoira S.p.A. (now Nippon Sanso Italia S.r.l.) Feb 2013 Managing Director, Rivoira S.p.A. Nov 2013 Managing Director and President, Rivoira S.p.A. Jan 2015 Managing Director and President, Praxair Italia S.r.l. (now Nippon Sanso Italia S.r.l.) Apr 2024 Executive Vice President, Nippon Gases Euro-Holding S.L.U. (now Nippon Sanso Euro-Holding S.L.U.) Jun 2024 Director of the Company (current) Jul 2024 Chairman and President, Nippon Gases Euro-Holding S.L.U. (now Nippon Sanso Euro-Holding S.L.U.) (current)
1969-06-25
Misato HARA
Outside Director
Jun 1988 Director, Hara Jisho Co., Ltd. (current) Oct 2017 Established Yokohama Benten Kaikeisha Tax Accountant Corporation; Representative Tax Accountant (current) Jun 2020 Outside Director, Secom Co., Ltd. (current) Jun 2021 Outside Director of the Company (current) Oct 2024 Audit & Supervisory Board Member (part-time), Hitotsubashi University (current)
1961-12-20
Katsumi NAGASAWA
Outside Director
Apr 1980 Joined Hitachi, Ltd. Apr 2006 General Manager, Nuclear Technology Division, Nuclear Energy Business Unit, Power Group, Hitachi, Ltd. Oct 2008 Vice President, Hitachi Power Systems America, Ltd. (now Mitsubishi Power Americas, Inc.) Oct 2010 General Manager, International Business Strategy Division, Power Systems Company, Hitachi, Ltd. Jan 2011 General Manager, International Business Strategy Division, Power Systems Company, Hitachi, Ltd.; CSO, Hitachi-GE Nuclear Energy, Ltd. (now Hitachi-GE Vernova Nuclear Energy, Ltd.) Apr 2012 Executive Officer, Power Systems Group, Power Systems Company, Hitachi, Ltd.; Head, Hitachi Works Apr 2014 Senior Managing Executive Officer, Power Systems Company, Hitachi, Ltd. Apr 2016 Senior Managing Executive Officer, CEO, Nuclear Business Unit, Hitachi, Ltd. Apr 2017 Chief Engineer, Hitachi, Ltd.; General Manager, Overseas Nuclear Strategy, Nuclear Business Unit Apr 2019 Chairman of the Board, Hitachi-GE Nuclear Energy, Ltd. (now Hitachi-GE Vernova Nuclear Energy, Ltd.) Jun 2020 Outside Director, Sugino Machine Limited (current) Jun 2022 Outside Director of the Company (current)
1956-10-18
Masako MIYATAKE
Outside Director
Apr 1983 Joined The Chase Manhattan Bank, N.A. (now JPMorgan Chase Bank, N.A.) Oct 2002 Registered as attorney-at-law (deregistered Oct 2011 for study abroad; re-registered Jan 2014) Oct 2002 Joined Koga Sogo Law Office Jun 2004 Joined Asahi Komamura Law Office (now Nishimura & Asahi) Nov 2014 Joined Nakano Law Office Nov 2014 Mediation Commissioner, Nuclear Damage Compensation Dispute Resolution Center, Ministry of Education, Culture, Sports, Science and Technology (current) Apr 2015 Mediation Commissioner, Tokyo Family Court (current) Apr 2018 Joined Breakmore Law Office (current) Dec 2018 Deputy Director General, Japan International Dispute Resolution Center (general incorporated association) Mar 2019 Outside Director, Sumida Corporation Apr 2019 Visiting Professor, Graduate School of Law, Keio University Apr 2021 Professor, Graduate School of Law, Keio University Jun 2022 Outside Director of the Company (current) Apr 2024 Visiting Professor, Graduate School of Law, Keio University (current) Sep 2024 Visiting Professor, Graduate School of Law, Kobe University (current) Jan 2026 Vice Chair, Dispute Resolution Subcommittee, International Construction Projects Committee, International Bar Association (IBA) (current)
1958-08-19
Hideo NAKAJIMA
Outside Director
Apr 1978 Joined the Ministry of Finance Jul 2002 Director General, Budget and Personnel Department, Asian Development Bank (based in Manila, Philippines) Jul 2005 Senior Deputy Director General (International Affairs), Secretariat, Japan Fair Trade Commission Jan 2014 Secretary General, Japan Fair Trade Commission Sep 2017 Special Advisor, White & Case LLP / White & Case Gaikokuho Jimu Bengoshi Jimusho (Foreign Law Joint Enterprise) (current) Jun 2023 Outside Director of the Company (current)
1955-07-23
Katsuhito YAMACHI
Outside Director
Apr 1982 Joined Yamaha Motor Co., Ltd. Apr 2003 Director, Yamaha Motor da Amazonia Ltda. Jul 2009 General Manager, Production Engineering Division, Technology Unit, Yamaha Motor Co., Ltd. Mar 2012 Executive Officer, General Manager, EG Manufacturing Division, Production Unit, Yamaha Motor Co., Ltd. Jan 2014 Executive Officer, Head of Production Unit, Yamaha Motor Co., Ltd. Mar 2015 Senior Executive Officer, Head of Production Unit, Yamaha Motor Co., Ltd. Jan 2017 Senior Executive Officer, Head of Production Unit; in charge of Procurement Unit, Yamaha Motor Co., Ltd. Mar 2017 Director and Senior Executive Officer, Yamaha Motor Co., Ltd. Mar 2019 Director and Managing Executive Officer, Yamaha Motor Co., Ltd. Mar 2022 Advisor, Yamaha Motor Co., Ltd. Jun 2023 Outside Director of the Company (current) Jun 2024 Outside Director, Enshu Limited (current)
1958-11-28
Naoto YABE
Director
Jul 2003 Specially Appointed Faculty, Graduate School of Science, The University of Tokyo Apr 2007 Joined McKinsey & Company, Inc. Japan Apr 2017 Executive Officer and Vice President, Head of Cardiovascular, Renal and Metabolism / Gastroenterology Business Unit; Japan Lead, CVRM Global Portfolio and Product Strategy, AstraZeneca K.K. Jun 2020 Executive Officer, General Manager, New Business Creation Division, Mitsubishi Chemical Corporation Apr 2021 Management Executive, Head of Innovation Promotion Division, Mitsubishi Chemical Corporation Apr 2022 Head of Innovation Division, Mitsubishi Chemical Holdings Corporation (now Mitsubishi Chemical Group Corporation) Apr 2023 Executive Officer, General Manager, Corporate Strategy Division, in charge of Strategy, Mitsubishi Chemical Group Corporation Apr 2024 Executive Officer, Chief Strategy Officer, Mitsubishi Chemical Group Corporation Apr 2025 Executive Officer, Chief Strategy Officer, Mitsubishi Chemical Corporation (current); Head of Strategy Office, Mitsubishi Chemical Group Corporation (current) Jun 2025 Director of the Company (current)
1966-08-17
Chuji WATANABE
Director
Apr 1992 Joined the Company Jun 2006 General Manager, Marketing Department, Matheson Tri-Gas, Inc. (now Nippon Sanso Matheson, Inc.) Jun 2007 General Manager, Purifier Business Division, Nippon Sanso Matheson, Inc. Jan 2008 Vice President, Business Development, Nippon Sanso Matheson, Inc. Apr 2014 General Manager, Business Development Division, International and Corporate Planning Unit, the Company Jun 2018 General Manager, Business Development Division, Research & Development Unit, the Company Apr 2021 General Manager, Innovation Business Division, Innovation Unit, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) Jun 2023 President, Taiyo Nippon Sanso JFP Co., Ltd. (now Nippon Sanso JFP Co., Ltd.) Apr 2024 Executive Officer, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation); President, Taiyo Nippon Sanso JFP Co., Ltd. (now Nippon Sanso JFP Co., Ltd.) Apr 2025 Executive Vice President and Executive Officer; Assistant to President; in charge of Corporate Planning, Business Management and Business Promotion, the Company Apr 2026 Executive Vice President and Executive Officer; Assistant to President (current)
Alan David DRAPER
Director
Sep 1995 Senior Accountant, Lumsden & McCormick, LLP Sep 1996 Internal Auditor, Praxair, Inc. (now Linde plc.) Apr 1999 Financial Analyst, Praxair, Inc. Jun 2000 Financial Manager, Global Supply Systems, Praxair, Inc. Jun 2002 Controller, North America, Praxair, Inc. May 2004 Revenue and Volume Director, Praxair, Inc. Jun 2005 Accounting Director, Operations Controller, Praxair, Inc. Mar 2009 Finance Director, Global Controller, Praxair Surface Technologies, Inc. (now Linde Advanced Material Technologies Inc.) Dec 2014 Vice President, Finance, IT and Operational Excellence, Praxair, Inc. Dec 2018 CFO, TNSC Euro-Holding S.L.U. (now Nippon Sanso Euro-Holding S.L.U.) Oct 2020 Executive Officer; General Manager, Finance and Accounting Office; CFO, the Company Jun 2023 Managing Executive Officer; General Manager, Finance and Accounting Office; CFO, the Company Apr 2026 Chairman and CEO, Nippon Sanso Matheson, Inc. (current)
Satoshi WATARI
Full-time Audit & Supervisory Board Member
Apr 1985 Joined the Company Aug 2008 General Manager, Finance Department, General Affairs Unit Jul 2014 Deputy General Manager, Human Resources Department Jun 2015 Executive Officer; Deputy General Manager, Human Resources Department Jun 2016 Executive Officer; General Manager, Human Resources Department Aug 2016 Executive Officer; General Manager, Human Resources Department; CHO Apr 2017 Executive Officer; General Manager, Human Resources Department; General Manager, Corporate Planning Office; CHO Oct 2020 Executive Officer; General Manager, Human Resources and Secretariat Office; General Manager, Human Resources Department; CHO; Director and Executive Officer, General Manager, Human Resources Department, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) Apr 2021 Executive Officer; General Manager, Human Resources and Secretariat Office; General Manager, Human Resources Department; CHO; Managing Executive Officer, Corporate Unit Head and General Manager, Human Resources Department, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) Jun 2021 Managing Executive Officer; General Manager, Human Resources and Secretariat Office; General Manager, Human Resources Department; CHO; Director and Managing Executive Officer, Corporate Unit Head and General Manager, Human Resources Department, Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) Jun 2023 Full-time Audit & Supervisory Board Member of the Company (current)
1961-10-08
Kentaro AKASHI
Full-time Outside Audit & Supervisory Board Member
Apr 1984 Joined Fuji Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 2008 General Manager, Products Business Management Department, Mizuho Corporate Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 2010 General Manager, Hong Kong Branch, Mizuho Corporate Bank Apr 2011 Executive Officer; General Manager, Hong Kong Sales Department I and Hong Kong Sales Department II, Mizuho Corporate Bank Jul 2013 Executive Officer; General Manager, Hong Kong Sales Department I and Hong Kong Sales Department II, Mizuho Bank, Ltd. Apr 2014 Managing Executive Officer, Mizuho Securities Co., Ltd.; Chairman, Mizuho Securities Asia Limited; attached to Investment Banking Group Apr 2015 Managing Executive Officer, Mizuho Securities Co., Ltd.; Chairman, Mizuho Securities Asia Limited; Executive in charge of Investment Banking Division Sales Apr 2016 Managing Executive Officer, Mizuho Securities Co., Ltd.; Chairman, Mizuho Securities Asia Limited; Executive in charge of Global Investment Banking Division Sales Apr 2017 Executive Officer, Mizuho Securities Co., Ltd. Jun 2017 Manager, Business Investment Management, Corporate Planning Department, JTB Corp. Apr 2018 Executive Officer, Business Investment Strategy, Corporate Strategy Division, JTB Corp. Apr 2021 Executive Officer, Investment and Funding Strategy, JTB Corp. Apr 2024 Advisor, the Company Jun 2024 Audit & Supervisory Board Member (part-time), Taiyo Nippon Sanso Corporation (now Nippon Sanso Corporation) (current) Jun 2024 Outside Audit & Supervisory Board Member (full-time) of the Company (current)
1961-09-06
Kohei ICHIYA
Full-time Outside Audit & Supervisory Board Member
Apr 1987 Joined Mitsubishi Kasei Corporation (now Mitsubishi Chemical Corporation) Apr 2013 Group Manager, Business Strategy Office, Mitsubishi Chemical Holdings Corporation (now Mitsubishi Chemical Group Corporation) Apr 2017 Group Manager, Business Management Department, Mitsubishi Chemical Corporation Apr 2018 General Manager, Finance Department, Corporate Staff, Mitsubishi Chemical Holdings Corporation (now Mitsubishi Chemical Group Corporation) Apr 2020 Executive Officer, General Manager, Accounting Department, Nihon Polychem Co., Ltd. Apr 2024 Advisor, the Company Jun 2024 Outside Audit & Supervisory Board Member (full-time) of the Company (current)
1964-01-12
Riki SHIBATA
Full-time Outside Audit & Supervisory Board Member
Apr 1986 Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 2017 Executive Officer; General Manager, Global Markets Division, Mizuho Financial Group, Inc.; Executive Officer; General Manager, Global Markets Division, Mizuho Bank, Ltd. Apr 2018 Managing Executive Officer, Deputy Executive in charge of Global Markets Company, Mizuho Financial Group, Inc.; Managing Executive Officer, Joint Division Head of Global Markets Division, Mizuho Bank, Ltd. Apr 2019 Director, Mizuho Bank, Ltd. Jun 2019 Director and Executive Officer, Vice President, Nihon Tochi Asset Management Co., Ltd. (now Chuo Nihon Tochi Asset Management Co., Ltd.); Advisor, Nihon Tochi Tatemono Co., Ltd. (now Chuo Nihon Tochi Tatemono Co., Ltd.) Apr 2020 Representative Director, President, Nihon Tochi Asset Management Co., Ltd. (now Chuo Nihon Tochi Asset Management Co., Ltd.); Advisor, Nihon Tochi Tatemono Co., Ltd. (now Chuo Nihon Tochi Tatemono Co., Ltd.) Apr 2025 Advisor, Chuo Nihon Tochi Asset Management Co., Ltd.; Advisor, Chuo Nihon Tochi Tatemono Co., Ltd. Jun 2025 Advisor, the Company Jun 2025 Outside Audit & Supervisory Board Member (full-time) of the Company (current)
1961-12-18
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
TDnet
2026-07-29
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-15
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-26
株主総会招集通知
EDINET
2026-05-22
中期経営計画
FY ending Mar 2026
EDINET
2026-03-30
中期経営計画
EDINET
2026-03-24
中期経営計画
FY ending Mar 2027
TDnet
2026-02-10
Q3 Earnings Flash
TDnet
2026-02-04
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-16
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
TDnet
2025-02-05
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
TDnet
2024-07-30
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-20
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-05-17
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-21
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-05-31
Amended Annual Securities Report
Period: Apr 2018 – Mar 2019
EDINETAmended
2023-05-31
Amended Annual Securities Report
Period: Apr 2020 – Mar 2021
EDINETAmended
2023-05-31
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINETAmended
2023-05-31
Amended Annual Securities Report
Period: Apr 2019 – Mar 2020
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
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