Overview

Upcon Co., Ltd.

Upcon provides proprietary concrete floor subsidence correction services using its patented 'Upcon Method,' which injects non-freon hard polyurethane foam resin through small drill holes to lift and level sunken or tilted concrete floors—without halting operations or demolishing existing structures. The company serves factories, warehouses, commercial facilities, and residential buildings in the private sector, as well as public infrastructure including roads, ports, airport aprons, and agricultural water channel tunnels. Competitive strengths include a construction timeline approximately one-tenth that of conventional concrete replacement methods, millimeter-level precision monitoring, multiple proprietary patents, and execution by in-house certified technicians.

Market Cap
¥—B
EV
¥—B
Stock¥975▲+0.00%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
—
LTM EV/EBIT
—
LTM PER
—
LTM PBR
—
Price 1Y
Jul 21, 21 – Nov 30, 21
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Performance & Balance
Revenue 5Y (¥B)
0.92US$5.85M'23/10.85US$5.43M'24/11.19US$7.61M'25/11.39US$8.85M'26/1
EBITDA 5Y (¥B)
0.18US$1.16M'23/10.10US$0.62M'24/10.34US$2.18M'25/10.43US$2.73M'26/1
Net Income 5Y (¥B)
0.12US$0.74M'23/10.07US$0.43M'24/10.24US$1.56M'25/10.30US$1.94M'26/1
Capital Structure
90%
EquityD/E 0.11xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.94US$6.01M0.00US$0.03M'23/10.84US$5.33M0.01US$0.03M'24/11.33US$8.49M0.01US$0.05M'25/11.68US$10.7M0.23US$1.46M'26/1
Shareholders
Top 10 hold 79.9%
1
Nobukazu MATSUFUJI
42.92%
2
Aqua Precon Co., Ltd.
15.30%
3
Mayumi MATSUFUJI
4.23%
4
Karin MATSUFUJI
4.23%
5
Minaki MATSUFUJI
4.23%
6
Seiki HIRAI
2.56%
7
Yoshiaki OGAWA
2.01%
8
Eltz Co., Ltd.
1.74%
9
Mitsuru MAEYAMA
1.53%
10
Tomoko IIZUKA
1.13%
Management
8 officers
Nobukazu MATSUFUJI
Representative Director, President
Jan 1989 Joined Travis Partners Architects (Australian corporation) as Japan Business Department Manager Feb 1998 Established Archipro Architectural Design (Australian corporation), Representative Director, President Jul 2001 Established Mainmark Japan Co., Ltd. (now Mainmark Co., Ltd.), Representative Director, President Jun 2003 Established the Company (converted from a limited liability company to a stock company in Feb 2004), Representative Director, President (current)
1958-05-11
Koji KAWAGUCHI
Director, General Manager of Sales Headquarters
Apr 1995 Joined Tone Underground Engineering Co., Ltd. Nov 2004 Joined the Company Feb 2011 Deputy General Manager, Engineering Department, the Company Feb 2014 General Manager, Engineering Department, the Company Aug 2014 General Manager, Engineering Department and General Manager, Administration Department, the Company Aug 2017 General Manager, Engineering Department, the Company May 2018 Director, General Manager, Engineering Department, the Company Feb 2020 Director, General Manager, Sales Headquarters, the Company (current)
1972-02-02
Shinichi WADA
Director, General Manager of Administration Headquarters
Apr 1992 Joined Mitsukoshi Ltd., Ginza Store Apr 1998 Seconded to Mitsukoshi Information Service Ltd. Apr 2006 Mitsukoshi Ltd., Head Office, Accounting Department Apr 2009 Seconded to Mitsukoshi Isetan Holdings Ltd., Administration Headquarters, Accounting Department Apr 2012 Seconded to Mitsukoshi Real Estate Ltd., Business Promotion Department Apr 2016 Joined Gold City Co., Ltd., Administration Department Jun 2018 Joined the Company, General Manager, Accounting Department May 2019 Director, General Manager, Accounting Department, the Company Feb 2020 Director, General Manager, Administration Headquarters, the Company (current)
1974-01-24
Tsuyoshi KUWATA
Director
Apr 1997 Joined Kazuyo Sejima & Associates Jul 2002 Established Tsuyoshi Kuwata Architecture & Design Office, a first-class architectural design firm (current) Apr 2003 Part-time Lecturer, Kyoto University of Art and Design Jan 2006 Director, the Company (current) Apr 2006 Part-time Lecturer, Meiji University Sep 2008 Part-time Lecturer, Nihon University Apr 2010 Associate Professor, Prefectural University of Kumamoto Apr 2014 Part-time Lecturer, Musashino Art University
1970-04-29
Yu OUCHI
Director
Oct 1997 Joined Ota Showa & Co. (now EY ShinNihon LLC) May 2001 Registered as Certified Public Accountant Oct 2018 Established Ouchi CPA Office (current) Nov 2019 Registered as Certified Tax Accountant Apr 2023 Director, the Company (current)
1974-05-02
Tomoko IIZUKA
Full-time Corporate Auditor
Feb 1992 Joined Nishimura Sanada Law Office (now Nishimura & Asahi) Jan 1998 Joined Amakawa Judicial Scrivener Office Aug 1998 Joined Kasahara International Law Office Jan 2002 Established Iizuka Judicial Scrivener Office Jan 2006 Corporate Auditor, the Company (current)
1967-08-12
Tetsuro EMA
Corporate Auditor
Oct 1985 Joined Asahi Shinwa & Co. (now Azusa Audit LLC) Oct 1989 Joined Towa Real Estate Co., Ltd. Oct 1992 Joined Morita CPA Office (now Morita Accounting Office) (current) Feb 2004 Corporate Auditor, the Company (current)
1959-04-20
Kazuhito MATANO
Corporate Auditor
Feb 2013 Joined Azusa Audit LLC Jul 2017 Corporate Auditor, the Company (current) Aug 2017 Established Matano CPA Office, Representative (current) Apr 2018 Established Blue Works Co., Ltd., Representative Director Sep 2018 Representative Director, Blue Works Accounting Co., Ltd. (current) Dec 2018 Representative Partner, Blue Works Tax Accountant Corporation (current) Apr 2021 Representative Partner, Minami-Fuji LLC (current) Jan 2024 Representative Director, Blue Works Group Co., Ltd. (current)
1984-05-02
Large Shareholding Reports
Aquapreccon Co., Ltd.
2026-09-29
15.34%→15.30%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-07-31): 15.30%
Nobukazu MATSUFUJI
2026-09-07
46.11%→42.92%
Annual report (as of 2026-07-31): 42.92%
Nobukazu MATSUFUJI
2026-03-12
50.83%→46.11%
Annual report (as of 2026-07-31): 42.92%
Nobukazu MATSUFUJI
2025-10-14
55.72%→50.83%
Annual report (as of 2026-07-31): 42.92%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-09-29
Change Report
EDINET
2026-09-14
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
EDINET
2026-09-07
Large Shareholding Report
TDnet
2026-06-11
Q1 Earnings Flash
FY ending Jan 2027
EDINET
2026-04-23
Annual Securities Report
Period: Feb 2025 – Jan 2026
EDINET
2026-03-12
Large Shareholding Report
TDnet
2025-12-15
Q3 Earnings Flash
FY ending Jan 2026
EDINET
2025-10-14
Large Shareholding Report
EDINET
2025-09-12
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-06-12
Q1 Earnings Flash
FY ending Jan 2026
EDINET
2025-04-25
Annual Securities Report
Period: Feb 2024 – Jan 2025
TDnet
2024-12-12
Q3 Earnings Flash
FY ending Jan 2025
EDINET
2024-09-12
Semi-Annual Securities Report
Period: Feb 2024 – Jan 2025
EDINET
2024-06-12
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
TDnet
2024-06-12
Q1 Earnings Flash
FY ending Jan 2025
EDINET
2024-04-25
Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINET
2023-12-13
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINET
2023-09-13
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-13
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-04-25
Annual Securities Report
Period: Feb 2022 – Jan 2023
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