Overview
Chemicals

Achilles Corporation

Achilles Corporation is a diversified Japanese manufacturer engaged in the production and sale of shoes, plastic products, and industrial materials across three core segments. Its product portfolio spans children's footwear (notably the 'Shunsoku' brand), PVC films and synthetic leather for automotive and general use, insulation materials, agricultural films, disaster prevention products, industrial materials for electronics (ESD protection, wafer packaging), and inflatable boats. The company serves a broad range of end markets including construction, agriculture, automotive, electronics, medical/disaster relief, and consumer goods.

Market Cap
¥24.5B
US$157M
EV
¥23.0B
US$147M
Stock¥1,796▼-0.77%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.6
x
LTM EV/EBIT
6.2
x
LTM PER
8.5
x
LTM PBR
0.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+14.8%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 12, 25Company-specific: Likely H2 earnings upgrade (+11.9% vs TOPIX +1.1%)
2Mar 9, 26Earnings release: Profit decline concern (-8.0% vs TOPIX -3.8%)
3Aug 7, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
24.5BUS$157MMarket Cap17.2BUS$109M+ Debt9.96BUS$63.5M− Cash8.74BUS$55.7M− Inv. Sec.23.0BUS$147MEV
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Performance & Balance
Revenue 5Y (¥B)
76.0US$484M'22/382.9US$529M'23/378.6US$501M'24/379.1US$504M'25/381.8US$522M'26/3
EBITDA 5Y (¥B)
4.02US$25.6M'22/32.62US$16.7M'23/32.47US$15.8M'24/32.46US$15.7M'25/35.71US$36.4M'26/3
Net Income 5Y (¥B)
1.53US$9.73M'22/3-1.20-US$7.68M'23/3-8.21-US$52.4M'24/30.43US$2.72M'25/32.12US$13.5M'26/3
Capital Structure
72%
28%
EquityD/E 0.39xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
10.5US$66.7M5.20US$33.2M'22/39.49US$60.5M11.1US$70.8M'23/310.0US$63.8M14.7US$93.4M'24/313.9US$88.5M14.7US$93.4M'25/317.6US$112M17.2US$109M'26/3
Shareholders
Top 10 hold 39.8%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.69%
2
Tokyo Achilles Kyowa-kai
6.00%
3
Osaka Achilles Kyowa-kai
4.05%
4
Mizuho Bank, Ltd.
3.63%
5
Ashikaga Achilles Kyowa-kai
3.53%
6
Asahi Mutual Life Insurance Company
3.16%
7
Hidetomo OKA
3.08%
8
The Ashikaga Bank, Ltd.
2.51%
9
SECOM General Insurance Co., Ltd.
2.31%
10
Custody Bank of Japan, Ltd. (Trust Account)
1.86%
Management
12 officers
Ichiro HIKAGE
Representative Director, President
Apr 1985 Joined the Company Jun 2010 Executive Officer, General Manager, Insulation Materials Business Division Jun 2012 Director, in charge of Industrial Materials; General Manager, Insulation Materials Business Division Jan 2014 Director, Assistant General Manager of Sales Division, in charge of Industrial Materials; General Manager, Insulation Materials Business Division Apr 2014 Director, Assistant General Manager of Sales Division, in charge of Industrial Materials; General Manager, Insulation Materials Business Division; General Manager, Purchasing Headquarters Jun 2014 Director, Assistant General Manager of Sales Division, in charge of Industrial Materials; General Manager, Purchasing Headquarters Jan 2016 Director, Assistant General Manager of Sales Division, in charge of Industrial Materials and Purchasing Jun 2018 Managing Director, General Manager of Manufacturing Division, in charge of Production Innovation Jun 2020 Senior Managing Director, General Manager of Sales Division, in charge of Shoe Division Jun 2022 Director, Representative Director, President Jun 2023 Director, Representative Director, President; General Manager of Sales Division, in charge of Shoe Division Jun 2024 Director, Representative Director, President; General Manager of Sales Division Jun 2025 Director, Representative Director, President (current)
1961-06-04
Kazuaki KONO
Managing Director, General Manager of Administration Division, in charge of CSR
Apr 1993 Joined the Company Jun 2018 Executive Officer, General Manager of Accounting Headquarters and Accounting Department Jan 2020 Executive Officer, General Manager of Accounting Headquarters Jun 2022 Director, Assistant General Manager of Administration Division; General Manager of Accounting Headquarters Jun 2024 Managing Director, General Manager of Administration Division, in charge of CSR; General Manager of Accounting Headquarters Jun 2025 Managing Director, General Manager of Administration Division, in charge of CSR (current) Concurrent subsidiary position: Achilles Shoji Corporation
1970-11-29
Hiroki YOKOYAMA
Director, in charge of Manufacturing in China, North America and Shiga Region
Feb 1992 Joined the Company Jun 2016 Executive Officer, General Manager of Industrial Materials Manufacturing Headquarters; Plant Manager, Industrial Materials Plant Jan 2018 Executive Officer, General Manager of Industrial Materials Manufacturing Headquarters Jun 2019 Executive Officer, General Manager of Industrial Materials Manufacturing Headquarters; Plant Manager, Industrial Materials Plant Jan 2020 Executive Officer, General Manager of Industrial Materials Manufacturing Headquarters Jun 2020 Director, General Manager of Manufacturing Division; General Manager of Industrial Materials Manufacturing Headquarters Jun 2022 Managing Director, General Manager of Manufacturing Division; General Manager of R&D Headquarters Jun 2023 Managing Director, General Manager of Manufacturing Division Jun 2025 Director, in charge of Manufacturing in China, North America and Shiga Region (current) Concurrent subsidiary positions: Achilles (Foshan) New Materials Co., Ltd.; Kunshan Achilles New Material Technology Co., Ltd.
1965-10-22
Tatsuya YANAGAWA
Director, General Manager of Sales Division, in charge of Shoe Business Unit and Purchasing
Apr 1989 Joined the Company Jun 2020 Executive Officer, in charge of Overseas Business Promotion; General Manager of Industrial Materials Sales Department Oct 2021 Executive Officer, in charge of Overseas Business Promotion; General Manager of Industrial Materials Business Division and Industrial Materials Sales Department Jun 2022 Director, in charge of Overseas Business Promotion; General Manager of Industrial Materials Business Division and Industrial Materials Sales Department Apr 2023 Director, in charge of Overseas Business Promotion; General Manager of Industrial Materials Business Division Jun 2023 Director, Assistant General Manager of Sales Division, in charge of Overseas Business Promotion; General Manager of Industrial Materials Business Division Jun 2024 Director, Assistant General Manager of Sales Division, in charge of Shoe Division and Industrial Materials Division Jun 2025 Director, General Manager of Sales Division, in charge of Second Business Division and Shoe Business Unit Jun 2026 Director, General Manager of Sales Division, in charge of Shoe Business Unit and Purchasing (current)
1965-08-31
Eiichi KAWASHIMA
Director, General Manager of Manufacturing Division
Apr 1997 Joined the Company Jun 2020 Executive Officer, in charge of Production Innovation; General Manager of Quality Assurance Headquarters Jun 2022 Executive Officer, Assistant General Manager of Manufacturing Division, in charge of Production Innovation; General Manager of Quality Assurance Headquarters Jun 2024 Director, Assistant General Manager of Manufacturing Division, in charge of Production Innovation; General Manager of Quality Assurance Headquarters Jun 2025 Director, General Manager of Manufacturing Division; General Manager of Quality Assurance Headquarters Jun 2026 Director, General Manager of Manufacturing Division (current)
1972-06-08
Hisao OCHI
Director, Assistant General Manager of Sales Division, in charge of North America, First Business Division and Second Business Division; General Manager of First Business Division
Apr 1992 Joined the Company Jun 2020 Executive Officer, General Manager of Specialty Chemicals Business Division; General Manager of Film Sales Department Jun 2023 Executive Officer, in charge of North America; General Manager of Specialty Chemicals Business Division; General Manager of Film Sales Department Oct 2023 Executive Officer, in charge of North America; General Manager of Specialty Chemicals Business Division Jun 2024 Director, in charge of North America; General Manager of Specialty Chemicals Business Division Jun 2025 Director, Assistant General Manager of Sales Division, in charge of North America and First Business Division; General Manager of First Business Division Jun 2026 Director, Assistant General Manager of Sales Division, in charge of North America, First Business Division and Second Business Division; General Manager of First Business Division (current) Concurrent subsidiary positions: ACHILLES USA, INC.; Achilles (Shanghai) International Trade Co., Ltd.
1969-09-18
Hitoshi TATENO
Director
Apr 1982 Joined Mitsui Petrochemical Industries, Ltd. (now Mitsui Chemicals, Inc.) Nov 1994 Obtained Doctor of Engineering, Kyoto University Apr 2010 General Manager of Planning Department, Mitsui-DuPont Polychemicals Co., Ltd. Jun 2011 Director, in charge of Planning and Administration, Mitsui-DuPont Polychemicals Co., Ltd. Jun 2013 Director, in charge of Sales and Marketing, Mitsui-DuPont Polychemicals Co., Ltd. Jun 2016 Representative Director, President, Mitsui-DuPont Polychemicals Co., Ltd. Jun 2019 Representative Director, President, Mitsui-Dow Polychemicals Co., Ltd. Jun 2022 Director of the Company (current)
1957-09-30
Nobuyuki KIKUIRI
Director, Full-time Audit and Supervisory Committee Member
Apr 1989 Joined the Company Jul 2008 General Manager of Human Resources and General Affairs Department Jan 2013 General Manager of Ashikaga General Affairs Department Jun 2020 Substitute Corporate Auditor Jun 2021 Full-time Corporate Auditor Jun 2022 Director, Full-time Audit and Supervisory Committee Member (current)
1965-07-29
Haruko KOKUE
Director
Chie KASAHARA
Director, Audit and Supervisory Committee Member
Apr 2000 Registered as attorney-at-law; joined Hayabusa International Law Office Nov 2006 Greenberg Traurig LLP, New York Nov 2007 Hayabusa Asuka Law Office Jan 2008 Partner, Hayabusa Asuka Law Office Jan 2009 Atsumi & Sakai Foreign Law Joint Enterprise Jan 2010 Partner Attorney, Atsumi & Sakai Foreign Law Joint Enterprise (currently Atsumi & Sakai Foreign Law Joint Enterprise, Partner Attorney) (current) Jun 2015 Outside Corporate Auditor, Credit Saison Co., Ltd. (current) Jun 2016 Substitute Corporate Auditor of the Company Jun 2019 Corporate Auditor of the Company Dec 2020 Outside Corporate Auditor, MTI Ltd. (current) Jun 2022 Director, Audit and Supervisory Committee Member of the Company (current)
1968-09-15
Kazuomi MATSUOKA
Director, Audit and Supervisory Committee Member
Aug 1990 Joined TAC Co., Ltd. Aug 1991 Joined Chuo Shinko Audit Corporation Mar 1994 Registered as Certified Public Accountant Nov 1996 Düsseldorf Office, Coopers & Lybrand Deutsche Revision (now PricewaterhouseCoopers) Sep 1999 Chuo Shinko Audit Corporation Jul 2000 CFO, Instinet Securities Co., Ltd. Apr 2001 Corporate Auditor, Japan Cross Securities Co., Ltd. Dec 2001 Registered as Certified Tax Accountant Dec 2001 Opened Kazuomi Matsuoka CPA and Tax Accountant Office (current) Sep 2004 Director, General Manager of Administration Division, Instinet Securities Co., Ltd. May 2006 Department Manager, Management Planning Office, SBI Holdings, Inc. Nov 2006 Director and Executive Officer, SBI Japannext Co., Ltd. Dec 2011 Outside Director, Image Epoch, Inc. Jun 2012 Supervisory Executive Officer, DREAM Private REIT Investment Corporation (current) Dec 2012 Outside Corporate Auditor, Good Smile Company, Inc. (current) Mar 2014 Outside Corporate Auditor, AppBank Inc. Jul 2016 Auditor, Tama Doukyukai Social Welfare Corporation May 2019 Outside Corporate Auditor, Hobby Stock Co., Ltd. (current) Jun 2019 Substitute Corporate Auditor of the Company May 2020 Outside Director, Audit and Supervisory Committee Member, Create Restaurants Holdings Inc. (current) Mar 2021 Outside Director, Audit and Supervisory Committee Member, AppBank Inc. Jun 2022 Substitute Director, Audit and Supervisory Committee Member of the Company Jun 2023 Director, Tama Doukyukai Social Welfare Corporation (current) Jun 2024 Director, Audit and Supervisory Committee Member of the Company (current) Mar 2025 Representative Director, Matsuoka Economic & Management Research Institute Co., Ltd. (current)
1967-05-21
Reiko SHIRATORI
Director, Audit and Supervisory Committee Member
Oct 2005 Registered as attorney-at-law; joined Tokyo Law Office Feb 2007 Partners Law Office Sep 2009 Johoku Law Office May 2018 Outside Corporate Auditor, Gyoukou Sangyo Co., Ltd. (current) May 2019 Opened Nishi-Ikebukuro Law Office (current) Jun 2024 Substitute Director, Audit and Supervisory Committee Member of the Company Apr 2025 Instructor (Civil Advocacy), Legal Training and Research Institute of the Supreme Court of Japan (current) Jun 2026 Director, Audit and Supervisory Committee Member of the Company (current)
1975-12-16
Large Shareholding Reports
Mizuho Bank, Ltd.
2026-09-07
3.71%→3.41%
Annual report (as of 2026-03-31): 3.63%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-07
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-06-25
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-09
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-10
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
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
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINETAmended
2022-06-29
Amended Annual Securities Report
EDINETAmended
2022-06-29
Amended Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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