Overview
Chemicals

KOATSU GAS KOGYO CO.,LTD.

Koatsu Gas Kogyo is a diversified industrial gas and chemical products company operating through three core segments: Gas Business, Chemical Products Business, and IT Solutions Business. The Gas Business, which represents the company's primary revenue driver, manufactures and sells dissolved acetylene (where the company holds a leading domestic market share), as well as oxygen, nitrogen, argon, CO2, and LP gas, targeting construction, shipbuilding, bridge, and machinery industries. The Chemical Products Business produces and sells synthetic resin adhesives, instant adhesives, and paints for construction and industrial applications, while the IT Solutions Business handles LSI cards, electronic paper display tags, and related peripherals.

Market Cap
¥66.7B
US$426M
EV
¥28.8B
US$184M
Stock¥1,209▼-0.49%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.0
x
LTM EV/EBIT
4.3
x
LTM PER
13.0
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-5.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 10, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
66.7BUS$426MMarket Cap6.89BUS$43.9M+ Debt26.8BUS$171M− Cash18.9BUS$120M− Inv. Sec.0.85BUS$5.42M+ NCI28.8BUS$184MEV
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Performance & Balance
Revenue 5Y (¥B)
82.5US$526M'22/391.5US$583M'23/393.3US$595M'24/399.0US$631M'25/398.7US$629M'26/3
EBITDA 5Y (¥B)
7.03US$44.8M'22/37.73US$49.3M'23/38.47US$54.0M'24/38.81US$56.2M'25/39.16US$58.4M'26/3
Net Income 5Y (¥B)
4.15US$26.5M'22/33.94US$25.1M'23/34.50US$28.7M'24/34.78US$30.5M'25/34.66US$29.7M'26/3
Capital Structure
93%
EquityD/E 0.08xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
33.8US$216M5.95US$37.9M'22/336.0US$230M10.1US$64.2M'23/343.9US$280M11.5US$73.4M'24/343.6US$278M11.6US$73.9M'25/344.4US$283M6.92US$44.1M'26/3
Shareholders
Top 10 hold 60.3%
1
Koatsu Kyoei-kai
13.51%
2
Denka Company Limited
9.88%
3
Kyoei Fire & Marine Insurance Co., Ltd.
7.25%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.75%
5
NIPPON SANSO HOLDINGS CORPORATION
5.69%
6
Mizuho Trust & Banking Co., Ltd. (Retirement Benefit Trust, Mizuho Bank, Ltd. Account; Re-trustee: Custody Bank of Japan, Ltd.)
4.92%
7
MUFG Bank, Ltd.
4.47%
8
Toyo Denka Kogyo Co., Ltd.
4.40%
9
KOATSU GAS KOGYO CO.,LTD. Employee Stock Ownership Association
2.78%
10
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
1.68%
Management
9 officers
Mikiya KUROKI
Representative Director, President
Apr 1988 Joined the Company Apr 2011 Officer; Director, Tokyo Office; General Manager, Kanto Region, Gas Business Division; General Manager, Kanagawa Plant; Manager, Haneda Sales Office; Manager, Tama Branch Office Jun 2011 Director Jun 2012 Representative Director, President, Toyo Koatsu Gas Co., Ltd. Jun 2012 Representative Director, President, Niigata Koatsu Gas Co., Ltd. Jun 2012 Representative Director, Maru Sho Gas Co., Ltd. Jun 2012 Representative Director, Chairman, Yumiyama Co., Ltd. Jun 2015 Managing Director Jun 2017 Senior Managing Director Jul 2020 Representative Director, Chairman, KGK Service Co., Ltd. Jun 2021 Representative Director, Chairman, Koatsu Showa Bombe Co., Ltd. Jun 2021 Representative Director, President; President Executive Officer (current) Jun 2023 Representative Director, KGK Service Co., Ltd.
1965-01-02
Kazuhiro SETSUDA
Representative Director, Vice President; General Manager, Chemical Products Business Division
Apr 1988 Joined the Company Apr 2007 Deputy General Manager, Chemical Products Business Division; General Manager, Western Chemical Products Department Jun 2009 Executive Officer; Deputy General Manager, Chemical Products Business Division; General Manager, Western Chemical Products Department Apr 2010 Executive Officer; General Manager, Chemical Products Business Division Jun 2011 Director Jun 2015 Managing Director Jun 2017 Senior Managing Director Jun 2017 Representative Director, Chairman and President, KOATSU GAS KOGYO VIETNAM CO., LTD. (current) Jun 2021 Representative Director, Executive Vice President; Executive Vice President Executive Officer (current) Jan 2024 Representative Director, Suzuka Fine Co., Ltd. (current) Jun 2025 Representative Director, Chairman, KOATSU GAS KOGYO VIETNAM CO., LTD. (current)
1963-08-05
Takashi MORIMOTO
Director; General Manager, Gas Business Division
Apr 1986 Joined the Company Jun 2013 Executive Officer; General Manager, Tokai Region, Gas Business Division Jun 2015 Director Jun 2020 Managing Director Jun 2021 Senior Executive Officer; General Manager, Corporate Planning Division; General Manager, Corporate Planning Department; General Manager, Gas Business Division Jun 2023 Director, Senior Executive Officer (current)
1963-08-06
Yoshihiro IKEDA
Director; General Manager, Administration Division
Apr 1989 Joined the Company Apr 2013 Officer; seconded to Suzuka Fine Co., Ltd. Jul 2013 Officer; General Manager, General Affairs Department, Administration Division, Tokyo Office Apr 2015 Officer; Deputy Manager, Tokyo Office; General Manager, General Affairs Department, Administration Division, Tokyo Office Apr 2017 Officer; General Manager, Corporate Planning Department, Corporate Planning Division Jun 2018 Director Jun 2021 Managing Executive Officer; General Manager, Administration Division Jun 2023 Director, Managing Executive Officer Jun 2026 Director, Senior Managing Executive Officer (current)
1965-01-25
Kenji NAKANO
Director
Apr 1980 Joined Denki Kagaku Kogyo K.K. (now Denka Company Limited) Apr 2011 Executive Officer, Denka Company Limited Apr 2014 Managing Executive Officer, Denka Company Limited Jun 2016 Director and Managing Executive Officer, Denka Company Limited Apr 2019 Representative Director, President, Akuros Shoji Co., Ltd. (now YK Across Co., Ltd.) Jun 2025 Director of the Company (current)
1955-11-17
Ryosuke MATSUI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1985 Joined the Company Apr 2011 Officer; General Manager, General Affairs Department, Administration Division, Tokyo Office Jun 2011 Executive Officer; General Manager, Administration Division, Tokyo Office Jun 2013 Executive Officer; Deputy General Manager, Administration Division; General Manager, Finance Department Jun 2015 Director; General Manager, Administration Division Jun 2017 Managing Director; General Manager, Administration Division Jun 2018 Full-time Audit & Supervisory Board Member Jun 2021 Director (Full-time Audit and Supervisory Committee Member) (current)
1962-03-20
Tadao YAMAMURA
Director (Audit and Supervisory Committee Member)
Apr 1987 Registered as attorney, Kyoto Bar Association Apr 1990 Opened Yamamura Tadao Law Office Apr 2003 Vice President, Kyoto Bar Association Apr 2004 Family Court Mediation Commissioner, Kyoto Family Court Oct 2016 Member, Kyoto Prefectural Information Disclosure Review Board Jun 2019 Director of the Company Jun 2021 Director (Audit and Supervisory Committee Member) (current)
1955-10-15
Hiroaki NAGASHIMA
Director (Audit and Supervisory Committee Member)
Oct 2000 Joined Osaka Office of Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Apr 2004 Registered as Certified Public Accountant Aug 2010 Registered as Certified Tax Accountant Oct 2010 Resigned from Deloitte Touche Tohmatsu LLC Oct 2010 Opened Nagashima Certified Public Accountant Office Oct 2012 Established Nagashima Consulting Co., Ltd. Apr 2017 Accounting Advisor to the Company Mar 2019 Ended role as Accounting Advisor to the Company Jun 2019 Audit & Supervisory Board Member of the Company Jun 2021 Director (Audit and Supervisory Committee Member) (current)
1976-11-23
Kazuyo NISHIKATA
Director (Audit and Supervisory Committee Member)
Oct 2003 Registered as attorney, Hyogo Bar Association Oct 2003 Joined Sakamoto Toyoki Law Office (now Kobe Partners Law Office) Apr 2018 Member, Kobe City Real Estate Review Board Nov 2020 Member, Hyogo Prefectural Information Disclosure and Personal Information Protection Review Council (current) Jun 2021 Director, Japan Federation of Bar Associations Jun 2022 Outside Audit & Supervisory Board Member, TOA Corporation (current) Jun 2024 Director (Audit and Supervisory Committee Member) (current)
1969-04-22
Large Shareholding Reports
Brandes Investment Partners, L.P.
2026-03-18
6.16%→4.93%
Denka Company Limited
2026-03-11
11.38%→9.82%
Annual report (as of 2026-03-31): 9.88%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-03-18
Large Shareholding Report
EDINET
2026-03-11
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-06-20
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2024-06-20
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-06-24
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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