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Overview

Oil and Coal Products

Yushiro Inc.

Yushiro is a specialty chemical manufacturer holding the top market share in Asia for metalworking fluids, supplying lubricants and process oils used across virtually all metal manufacturing processes. In addition to its core metalworking fluids business, the company develops and sells building maintenance products, self-healing materials, photocatalytic products, and railway-related lubricants in Japan. The company operates through four regional segments—Japan, the Americas, China, and Southeast Asia/India—with dedicated local subsidiaries managing each region's strategy and sales.

Market Cap

¥40.9B

US$261M

¥27.3B

US$174M

Stock¥3,170▼-0.78%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.8

LTM EV/EBIT

6.0

LTM PER

10.1

LTM PBR

0.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+20.0%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Dec 1, 25Share buyback announcement

2Jan 15, 26Strong Q3 earnings results

3Jan 16, 26Profit-taking after recent gains

4Mar 5, 26Next year earnings guidance upgrade

5Aug 10, 26Q1 FY2027/03 earnings announced

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

89%

EquityD/E 0.12xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 51.0%

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

The Master Trust Bank of Japan, Ltd. (Trust Account)

14.15%

Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)

8.11%

Yushiro Inc. Business Partners' Stock Ownership Association

7.56%

SUZUKI MOTOR CORPORATION

4.21%

Sumitomo Mitsui Banking Corporation

3.98%

Yushiro Inc. Employee Stock Ownership Association

3.57%

Custody Bank of Japan, Ltd. (Trust Account)

3.47%

MUFG Bank, Ltd.

2.42%

NAGASE & CO.,LTD.

1.87%

Kazuaki IMAGAWA

1.61%

Management

8 officers

Masanori ARISAKA

Representative Director, President and CEO

Apr 1988 Joined the Company Apr 2010 General Manager, Central Japan Division, the Company Feb 2012 President, Yushiro (Thailand) Co., Ltd. Apr 2012 General Manager, ASEAN and India Division, the Company; President, Yushiro (Thailand) Co., Ltd. Jun 2013 Executive Officer, General Manager, ASEAN and India Division, the Company; President, Yushiro (Thailand) Co., Ltd. Apr 2014 Executive Officer, General Manager, IL Business Division, the Company; President, Yushiro (Thailand) Co., Ltd. Jun 2014 Director, General Manager, IL Business Division, the Company; President, Yushiro (Thailand) Co., Ltd. Jun 2017 Managing Director, General Manager, IL Business Division, the Company Apr 2020 Managing Director, General Manager, Sales Division, the Company Jun 2021 Senior Managing Director, General Manager, Sales Division, the Company Jan 2022 Representative Director, President, the Company Jun 2025 Representative Director, President and Executive Officer, the Company Jun 2026 Representative Director, President, the Company (current) Chief Executive Officer (current)

1965-11-21

Seiji TAKAHASHI

Director, Managing Executive Officer, CTO

Apr 1992 Joined the Company Jan 2006 Seconded to Yushiro Manufacturing America Inc. Feb 2012 General Manager, Central Japan Division, Sales Department, the Company Apr 2014 Executive Officer, General Manager, Western Japan Business Division, IL Business Division, the Company Apr 2016 Executive Officer, in charge of Technology, IL Business Division, the Company Jul 2016 Executive Officer, in charge of Technology, IL Business Division; General Manager, Research Division; General Manager, Technical Center, the Company Jun 2017 Director, in charge of Technology, IL Business Division; General Manager, Research Division; General Manager, Technical Center, the Company Apr 2020 Director; General Manager, Research Division and Technical Center, the Company Mar 2022 Director; General Manager, Research Division; Deputy General Manager, Corporate Division, the Company Jun 2022 Managing Director; General Manager, Corporate Division and Research Division, the Company Jun 2023 Managing Director; General Manager, Technology Division, the Company Apr 2025 Managing Director; in charge of Technology and Production, the Company Jun 2025 Director, Managing Executive Officer (in charge of Technology and Production), the Company Jun 2026 Director, Managing Executive Officer, the Company (current) Chief Technology Officer (current)

1967-01-10

Kazutoshi TAKAKURA

Director, Managing Executive Officer, CSO

Jan 1991 Joined the Company Apr 2009 Seconded to Yushiro Manufacturing America Inc. Apr 2017 General Manager, Nagoya Branch, Sales Department, IL Business Division, the Company Apr 2019 Deputy General Manager, Sales Department, IL Business Division; General Manager, Nagoya Branch, the Company Apr 2020 Deputy General Manager, Sales Division; General Manager, Sales Department and Nagoya Branch, the Company Jul 2020 Executive Officer, Deputy General Manager, Sales Division; General Manager, Sales Department and Nagoya Branch, the Company Apr 2021 Executive Officer in charge of Sales Department, Sales Division, the Company Jan 2022 Executive Officer, General Manager, Sales Division, the Company Jun 2022 Director, General Manager, Sales Division, the Company Apr 2025 Director, in charge of Sales Division, the Company Jun 2025 Director, Managing Executive Officer (in charge of Sales Division), the Company Jun 2026 Director, Managing Executive Officer, the Company (current) Chief Strategy Officer (current)

1966-12-14

Kazushige KOBAYASHI

Director, Executive Officer (in charge of Americas Business)

Apr 1986 Joined the Company Jan 2002 Seconded to Yushiro Jet Chemicals Sdn. Bhd. (now Yushiro Malaysia Sdn. Bhd.) Sep 2004 Seconded to Yushiro (Thailand) Co., Ltd. Apr 2008 Deputy Manager, Sales Division Office, the Company Apr 2012 President, Yushiro India Company Pvt. Ltd. Apr 2014 General Manager, IL Business Division Office, IL Business Division, the Company Jul 2017 Executive Officer in charge of IL Business Division Office, IL Business Division, the Company Feb 2021 Executive Officer, the Company; seconded to Yushiro Manufacturing America Inc. Apr 2021 Executive Officer, the Company; President and CEO, Yushiro Manufacturing America Inc.; CEO, Qualichem Inc. Jun 2021 Director, the Company; President and CEO, Yushiro Manufacturing America Inc.; CEO, Qualichem Inc. Apr 2025 Director, in charge of Americas Business, the Company; President and CEO, Yushiro Manufacturing America Inc.; CEO, Qualichem Inc. Jun 2025 Director, Executive Officer (in charge of Americas Business), the Company; President and CEO, Yushiro Manufacturing America Inc.; CEO, Qualichem Inc. Apr 2026 Director, Executive Officer (in charge of Americas Business), the Company (current); CEO, Yushiro Manufacturing America Inc. (current); CEO, Qualichem Inc. (current)

1963-07-24

Takuya ISHIKAWA

Director (Audit and Supervisory Committee Member)

Nov 1987 Joined the Company Jun 2017 Director, in charge of Americas Operations, the Company; President and CEO, Yushiro Manufacturing America Inc. Aug 2018 Director, in charge of Americas Operations, the Company; President and CEO, Yushiro Manufacturing America Inc.; CEO, Qualichem Inc. Jun 2021 Resigned as Director, the Company; Advisor, the Company, in charge of Overseas Strategy, Corporate Division Apr 2022 Advisor, Corporate Division, the Company; Executive Corporate Advisor Jun 2023 Director, General Manager, Corporate Division, the Company Apr 2025 Director, in charge of Corporate Division, the Company Jun 2025 Director, Executive Officer (in charge of Corporate Division), the Company Jun 2026 Director (Audit and Supervisory Committee Member), the Company (current)

1960-07-22

Yasushi KURAMOTO

Director

Apr 1987 Joined Onoda Cement Co., Ltd. (now Taiheiyo Cement Corporation) Apr 1989 Joined Diesel Kiki Co., Ltd. (now Bosch Corporation) Jan 2001 Joined Nissan Motor Co., Ltd. Apr 2003 Chief, Procurement Department, Nissan Motor Co., Ltd. Apr 2008 Manager, Affiliated Company Management Department, Nissan Motor Co., Ltd. Apr 2013 Audit & Supervisory Board Member, JATCO Ltd. Apr 2019 Internal Control Manager, Nissan Creative Services Co., Ltd. Jun 2026 Director, the Company (current)

1963-04-25

Kazuko IIZUKA

Director (Audit and Supervisory Committee Member)

Apr 1987 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Apr 1998 Registered as an attorney; joined Hirakawa, Sato & Kobayashi Law Office (now City-Yuwa Partners) Apr 2013 Partner, City-Yuwa Partners (current) Jun 2015 Outside Director, Nissin Sugar Co., Ltd. (now Wellneo Sugar Co., Ltd.) (current) Jun 2016 Director (Audit and Supervisory Committee Member), the Company (current) Feb 2017 Outside Audit & Supervisory Board Member, Kyuso Ryutsu System Co., Ltd.

1964-12-24

Atsuko SUGIYAMA

Director (Audit and Supervisory Committee Member)

Oct 1999 Joined Asahi Audit Corporation (now Azusa Audit LLC) Apr 2003 Registered as Certified Public Accountant Sep 2016 Deputy Director, Sugiyama Masaaki Certified Public Accountant and Tax Accountant Office (current) Feb 2017 Registered as Tax Accountant May 2017 Outside Audit & Supervisory Board Member, Welcia Holdings Co., Ltd. Jun 2020 Outside Director, Fuji Kosan Co., Ltd. Jun 2022 Director (Audit and Supervisory Committee Member), the Company (current) Oct 2025 Outside Director (Audit and Supervisory Committee Member), Fuji Unite Holdings Co., Ltd. (current)

1974-07-05

Large Shareholding Reports

fundnote Co., Ltd.

2026-07-23

8.97%→7.48%

fundnote Co., Ltd.

2026-07-07

7.61%→8.97%

Sumitomo Mitsui Banking Corporation

2026-06-05

3.73%→3.73%

Annual report (as of 2026-03-31): 3.98%

fundnote Co., Ltd.

2026-06-05

5.56%→7.61%

fundnote Co., Ltd.

2026-05-12

5.56%

MUFG Bank, Ltd.

2026-02-17

2.27%→2.27%

Annual report (as of 2026-03-31): 2.42%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-07

Q1 Earnings Flash

FY ending Mar 2027

Yushiro Inc.

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Yushiro Inc.

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