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Overview

Chemicals

ASAHIPEN CORPORATION

Asahipen Corporation is a Japan-based manufacturer and retailer of paints, coatings, and DIY home improvement products, offering a broad lineup including water-based paints, spray coatings, wallpaper, flooring materials, shoji paper, and household care products targeting both consumer DIY and professional markets. The company also operates in pet food and pet supplies through a subsidiary, and provides painting contractor services. Asahipen differentiates itself through consumer-friendly product innovation—such as low-odor water-based formulas developed in partnership with BASF—and strong brand recognition in Japan's home improvement retail channel.

Market Cap

¥6.90B

US$44.0M

¥5.28B

US$33.7M

Stock¥1,860▼-1.59%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.6

LTM EV/EBIT

6.3

LTM PER

8.5

LTM PBR

0.5

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-13.4%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

71%

29%

EquityD/E 0.40xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 35.8%

as of 2026-03-31 · Source: Annual Securities Report

Asahipen Hikari Foundation (General Incorporated Foundation)

12.46%

Asahipen Kyoshinkai

5.33%

Asahipen Kyoeikai

3.84%

Sumitomo Mitsui Banking Corporation

3.17%

MUFG Bank, Ltd.

2.92%

Kogo SAWADA

1.79%

The Iyo Bank, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)

1.67%

Takeshi TANAKA

1.61%

Hirofumi TANAKA

1.52%

JPMorgan Securities Japan Co., Ltd.

1.52%

Management

12 officers

Kogo SAWADA

Representative Director, President

Sep 2000 Joined the Company Apr 2007 General Manager, Production and Logistics Division, the Company Oct 2007 Plant Manager, Hyogo Plant, the Company May 2015 Director, General Manager, Production and Logistics Division, the Company Representative Director, President, Asahi Kyusoku Co., Ltd. (current: Asahi Logist Co., Ltd.) Apr 2018 Representative Director, President, the Company (current) Apr 2018 Representative Director, Chairman, Taihou Toryo Co., Ltd. (current) Apr 2018 Representative Director, Chairman, Asahi Pen Home Improvement Service Co., Ltd. (current) Apr 2018 Representative Director, Chairman, Kyofuku Sangyo Co., Ltd. (current) Apr 2018 Representative Director, President, Asahi Logist Co., Ltd. (current) Apr 2022 Representative Director, Chairman, The Pet Co., Ltd. (current) Jun 2024 Representative Director, Chairman, Sunpapel Co., Ltd. (current) Jan 2026 Representative Director, Chairman, Hodogaya Denshi Hanbai Co., Ltd. (current)

1965-01-07

Hirofumi TANAKA

Director and Senior Advisor

May 1961 Joined the Company Nov 1970 Director, the Company May 1977 Representative Director, President, the Company May 1986 Representative Director, Chairman, Asahi Pen Home Improvement Service Co., Ltd. Sep 1986 Representative Director, Chairman, Taihou Toryo Co., Ltd. Apr 1995 Representative Director, Chairman, the Company Jun 2003 Senior Advisor, the Company Jun 2004 Director and Senior Advisor, the Company (current)

1940-02-23

Hidehiro HIIRAGI

Managing Director, General Manager, Sales Division

Nov 1995 Joined the Company Apr 2012 Deputy General Manager, Sales Division, the Company Apr 2016 Representative Director, President, Taihou Toryo Co., Ltd. Jun 2018 Director, the Company May 2020 General Manager, Sales Division, the Company (current) Apr 2021 Representative Director, President, Taihou Toryo Co., Ltd. Apr 2022 Managing Director, the Company (current) Director, The Pet Co., Ltd. (current)

1962-08-09

Tadahide ISHIO

Director (in charge of Administration, Systems and General Affairs Departments), Division Manager of Administration Division, in charge of Public Relations

Apr 1989 Joined the Company Apr 2015 Accounting Department Manager, the Company Apr 2018 Representative Director, President, Sunbig Co., Ltd. Apr 2018 Representative Director, President, Orange Town Co., Ltd. (current) Jun 2018 Director, the Company Jun 2018 General Manager, Administration Division, the Company Jun 2018 General Manager, Management Planning Division, the Company Jun 2018 Manager, Public Relations Office, the Company Apr 2019 Director, the Company (current) Apr 2022 Director, The Pet Co., Ltd. (current) May 2023 Division Manager, Administration Division, the Company (current) Jan 2024 Director, Sunpapel Co., Ltd. (current) Jan 2026 Representative Director, President, Hodogaya Denshi Hanbai Co., Ltd. (current) Public Relations, the Company (current)

1967-03-15

Yoshitake MATSUNAMI

Director, Division Manager of General Affairs Division, in charge of Compliance

Jan 2008 Joined the Company Apr 2018 Senior Manager, General Affairs Division, the Company Jun 2018 Director, the Company (current) Jun 2018 Secretary Office Manager, the Company Jun 2018 in charge of Compliance, the Company (current) Apr 2021 General Manager, General Affairs Division, the Company Apr 2022 Senior Manager, Public Relations Office, the Company Division Manager, General Affairs Division, the Company (current)

1964-07-13

Tomoyuki IKEDA

Executive Officer, Division Manager of Logistics Division, Division Manager of Manufacturing Division

Jan 2001 Joined the Company Apr 2016 Accounting Section Manager, Accounting Department, the Company Apr 2021 Division Manager, Accounting Division, the Company May 2023 Division Manager, Logistics Division, the Company (current) Jan 2024 Division Manager, Manufacturing Division, the Company (current) Apr 2024 Executive Officer in charge of Production and Logistics, the Company (current) Jan 2025 Representative Director, President, Asahi Logist Co., Ltd. (current)

1973-09-28

Tsuyoshi MIYAZAKI

Division Manager of Product Development and Technology Division

Apr 2004 Joined the Company Apr 2015 Section Manager, Technology Development Section 2, Technology Division, the Company Apr 2019 Solvent-Based Paint Development Section Manager, Product Development and Technology Division, the Company Apr 2023 Division Manager, Product Development and Technology Division, the Company (current)

1972-02-19

Akinobu FUKUYAMA

Full-time Corporate Auditor

Apr 1987 Joined the Company Apr 2010 Manager, Administration Office, the Company May 2020 Contract Employee, Sales Administration Department (current: Sales Administration Team), the Company Apr 2021 Corporate Auditor, the Company (current) Jun 2021 Full-time Corporate Auditor, the Company (current)

1960-05-19

Toshihito MIURA

Full-time Corporate Auditor

Apr 1987 Joined the Company Oct 2015 Deputy General Manager, Information Systems Department, and Head, Administrative Center, the Company Apr 2021 Division Manager, Systems Division, the Company Oct 2022 Contract Employee, Osaka Sales Office, the Company Jun 2025 Corporate Auditor, the Company (current) Contract Employee, Osaka Sales Office, the Company (current)

1962-04-24

Masao FUJIEDA

Non-Executive Director

Mar 1995 Registered as Certified Public Accountant Oct 1999 Joined Recof Co., Ltd. Jun 2010 Outside Director, Towa Mex Co., Ltd. (current: TB Group Co., Ltd.) Apr 2016 Outside Director, NC Holdings Co., Ltd. Jun 2018 Director, the Company Jun 2024 Director, Nara Shimbun Co., Ltd. (current) Jun 2025 Director, the Company (current) Vice President, Kinki Chapter, Japanese Institute of Certified Public Accountants (current)

1967-05-29

Yasushi MANABE

Non-Executive Corporate Auditor

Apr 1963 Joined Dai Nippon Toryo Co., Ltd. Apr 1969 Representative Director, President, Showa Seiki Kogyo Co., Ltd. (current) Jun 1994 Corporate Auditor, the Company (current)

1940-04-11

Keizo FUJIWARA

Non-Executive Corporate Auditor

Mar 1977 Joined Fujiwara Sangyo Co., Ltd. Oct 1987 Director (later Executive Vice President), Fujiwara Sangyo Co., Ltd. Jul 2005 Representative Director, President, Fujiwara Sangyo Co., Ltd. (current) Jul 2016 Representative Director, President, Fujiwara Sangyo Holdings Co., Ltd. (current) Jun 2019 Corporate Auditor, the Company (current)

1955-03-06

Large Shareholding Reports

No filings

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-10-19

Forecast Revision

ASAHIPEN CORPORATION

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ASAHIPEN CORPORATION

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