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Overview

Glass and Ceramics Products

Sumitomo Osaka Cement Co.,Ltd.

Sumitomo Osaka Cement is a diversified materials company centered on cement manufacturing and sales, with operations spanning ready-mixed concrete, limestone and aggregate mining, concrete repair materials, and recycling/waste processing at its cement plants. Beyond its core cement business, the company develops and commercializes high-value-added products including optical communication components, measurement instruments, ceramic products, and nano-particle materials. The company emphasizes environmental solutions such as carbon-neutral cement ('Sustena Cement') and CO2 mineralization technologies, positioning sustainability as a key competitive differentiator.

Activists: Silchester International Investors LLP 14.83%, Former Murakami Fund group (City Index Eleventh, Reno, Minamiaoyama Real Estate) 3.93%

Market Cap

¥161B

US$1.02B

¥195B

US$1.25B

Stock¥1,689.5▼-1.69%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

5.0

LTM EV/EBIT

12.5

LTM PER

13.5

LTM PBR

0.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+3.7%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Oct 28, 25Q2 earnings announcement

2Nov 11, 25Disappointing earnings announcement

3Jun 8, 26Silchester International Investors LLP changed stake (19.43%→18.34%)

4Jun 26, 26Silchester International Investors LLP changed stake (18.34%→17.19%)

5Jul 7, 26Silchester International Investors LLP changed stake (17.19%→16.01%)

MC → EV Bridge

AI Briefing

Diversified cement major spanning manufacturing, mining, concrete repair and optical/ceramic materials. FY26/3 revenue ¥224B with OP margin improving to 6.1%, continuing a multi-year profitability recovery from FY23/3 losses. Carbon-neutral cement and recycling tech provide a differentiation angle, though core business remains tied to domestic construction demand.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

68%

32%

EquityD/E 0.46xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 49.7%

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

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

13.84%

NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

8.34%

NORTHERN TRUST CO. (AVFC) RE U.S. TAX EXEMPTED PENSION FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

4.70%

Custody Bank of Japan, Ltd. (Trust Account)

4.08%

STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)

4.01%

STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)

3.47%

NORTHERN TRUST CO. (AVFC) RE NON TREATY CLIENTS ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

3.42%

NORTHERN TRUST CO . ( AVFC ) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

2.85%

Sumitomo Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)

2.68%

STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)

2.35%

Management

15 officers

Hisanori MOROHASHI

Representative Director, President

Apr 1982 Joined the Company Apr 2010 General Manager, Nagoya Branch Jun 2012 General Manager, Osaka Branch Jun 2013 Executive Officer, General Manager, Osaka Branch Jun 2016 Executive Officer, General Manager, Tokyo Branch Jun 2017 Managing Executive Officer, General Manager, Tokyo Branch Jun 2019 Director, Managing Executive Officer Jun 2021 Representative Director, President (current)

1959-08-19

Ryoji DOI

Representative Director, Senior Managing Executive Officer

Apr 1986 Joined Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Jul 2015 Director, Business Support Division, Small and Medium Enterprise Agency Oct 2016 Joined the Company; Executive Officer, Deputy General Manager in charge of Production Technology Division Jun 2017 Managing Executive Officer, Plant Manager, Tochigi Plant and Mine Manager, Karasawa Mine Jun 2020 Director, Managing Executive Officer; Director, Senior Managing Executive Officer Jun 2021 Representative Director, Senior Managing Executive Officer (current)

1961-04-08

Masatake SEKIMOTO

Director, Senior Managing Executive Officer

Apr 1987 Joined the Company Jun 2015 General Manager, Administration Division Jun 2018 Executive Officer, General Manager, Materials Division Jun 2020 Managing Executive Officer, General Manager, Materials Division Jun 2021 Director, Managing Executive Officer Apr 2024 Director, Senior Managing Executive Officer (current)

1964-09-10

Akihiko ONO

Director, Managing Executive Officer

Apr 1988 Joined the Company Jun 2015 General Manager, Environmental Business Division Jun 2018 Executive Officer, General Manager, Environmental Business Division Apr 2022 Managing Executive Officer Jun 2024 Director, Managing Executive Officer Apr 2026 Director, Managing Executive Officer, General Manager, High-Performance Products Division (current)

1965-02-13

Yoshihiko MANABE

Director, Managing Executive Officer

Apr 1987 Joined Sumitomo Corporation Apr 2019 Joined the Company Apr 2022 General Manager, International Division Apr 2023 Executive Officer, General Manager, International Division Apr 2025 Managing Executive Officer, General Manager, International Division Jun 2025 Managing Executive Officer Apr 2026 Managing Executive Officer, General Manager, Cement Business Division Jun 2026 Director, Managing Executive Officer, General Manager, Cement Business Division (current)

1963-07-23

Tetsuo YOKOBORI

Director, Managing Executive Officer

Apr 1994 Joined the Company Oct 2017 General Manager, International Division Jun 2022 Plant Manager, Gifu Plant Apr 2024 Executive Officer, General Manager, Production Technology Division Apr 2026 Managing Executive Officer, Deputy General Manager, Cement Business Division, and General Manager, Cement Division Jun 2026 Director, Managing Executive Officer, Deputy General Manager, Cement Business Division, and General Manager, Cement Division (current)

1969-09-10

Mitsuko MAKINO

Director

Apr 1993 Contract Caster, Shizuoka Broadcasting Station, Japan Broadcasting Corporation (NHK) Oct 2000 Contract Reporter, Shizuoka Broadcasting System Co., Ltd. (SBS Shizuoka Broadcasting) Apr 2009 Freelance Announcer Jun 2018 Director of the Company (current)

1972-05-12

Tatsuya INAGAWA

Director

Apr 1983 Appointed Public Prosecutor Sep 2016 Director, Public Security Department, Supreme Public Prosecutors Office Mar 2017 Chief Public Prosecutor, Takamatsu High Public Prosecutors Office Jan 2018 Chief Public Prosecutor, Hiroshima High Public Prosecutors Office Nov 2019 Registered as Attorney at Law; joined Takahashi Sogo Law Office Jun 2021 Director of the Company (current)

1956-09-13

Yoshimi MORITO

Director

Apr 1974 Joined Kandenko Co., Ltd. Jul 2013 Managing Executive Officer, Kanagawa Branch Manager, Kandenko Co., Ltd. Jun 2014 Director, Managing Executive Officer, Kandenko Co., Ltd. Jun 2015 Director, Senior Executive Vice President, Kandenko Co., Ltd. Jun 2016 Director, President and Executive Officer, Kandenko Co., Ltd. Jun 2020 Director, Vice Chairman, Kandenko Co., Ltd. Jun 2021 Director of the Company (current)

1956-01-05

Takeya OKOTSUKA

Full-time Corporate Auditor

Apr 1987 Joined the Company Jun 2018 General Manager, Planning Division and General Manager, Administration Division Jun 2020 Executive Officer, General Manager, Planning Division and General Manager, Administration Division Jun 2021 Executive Officer, General Manager, Administration Division Apr 2023 Advisor Jun 2023 Corporate Auditor of the Company (current)

1963-12-04

Masahiro YAMASAKI

Full-time Corporate Auditor

Apr 1986 Joined the Company Jun 2012 Deputy General Manager, New Technology Research Laboratory Apr 2015 Director, President, SOC America Inc. Jun 2017 Deputy General Manager, New Materials Business Division Jun 2021 General Manager, New Materials Business Division Jun 2024 Corporate Auditor of the Company (current)

1964-02-22

Taku MITSUI

Corporate Auditor

Dec 2012 Registered as Attorney at Law Dec 2012 Joined Inoue Haruta Law Office (now Inoue & Sakurai Law Office) Dec 2015 Opened Mitsui Taku Law Office Jun 2020 Corporate Auditor of the Company (current)

1980-06-07

Keiji IKEDA

Corporate Auditor

Oct 1988 Joined Asahi Shinwa Audit Corporation (now Azusa Audit LLC) Mar 1994 Registered as Certified Public Accountant Jun 2010 Representative Partner, Azusa Audit LLC Jul 2015 General Manager, General Affairs Department, Azusa Audit LLC Jun 2023 Chairman of Partners' Meeting, Azusa Audit LLC Jun 2024 Corporate Auditor of the Company (current)

1961-12-29

Hayuru TSUTSUMI

Director

Jan 1987 Joined British Caledonian Airways (now British Airways) Sep 1997 Joined Skymark Airlines Inc. Sep 1998 Joined Alc Kyoikusha Co., Ltd. Sep 2002 Joined L'Oreal Japan Co., Ltd. Mar 2007 Joined Recruit Executive Agent Co., Ltd. Nov 2012 Representative Director, Hayuru Corporation Co., Ltd. May 2014 Outside Director, Life Corporation Aug 2020 Representative, OFFICE HAYURU Jun 2026 Director of the Company (current)

1962-02-25

Chikanori HASHIMOTO

Corporate Auditor

May 1998 Professor, Faculty of Engineering, Tokushima University Apr 2006 Professor, Graduate School of Socio-Technosciences, Tokushima University Apr 2016 Professor, Graduate School of Science and Technology, Tokushima University Apr 2017 Professor, Graduate School of Technology, Industrial and Social Sciences, Tokushima University Jul 2022 Director, Public Interest Incorporated Association, Japan Concrete Institute Apr 2025 Professor Emeritus, Tokushima University Jun 2026 Corporate Auditor of the Company (current)

1959-06-11

Large Shareholding Reports

Silchester International Investors LLP

2026-08-05

16.01%→14.83%

Silchester International Investors LLP

2026-07-07

17.19%→16.01%

Silchester International Investors LLP

2026-06-26

18.34%→17.19%

BlackRock Japan Co., Ltd.

2026-06-18

1.86%

Silchester International Investors LLP

2026-06-08

19.43%→18.34%

Goldman Sachs Asset Management, L.P.

2026-05-22

2.17%→2.06%

Goldman Sachs Asset Management, L.P.

2026-04-22

2.17%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-09-04

3.03%→2.30%

Nomura Asset Management Co., Ltd.

2025-08-21

4.81%→3.71%

Nomura Asset Management Co., Ltd.

2025-08-06

5.89%→4.81%

Silchester International Investors LLP

2025-07-24

20.52%→19.43%

Silchester International Investors LLP

2025-05-02

21.54%→20.52%

Silchester International Investors LLP

2025-03-24

20.85%→21.54%

Silchester International Investors LLP

2024-06-17

21.92%→20.85%

Silchester International Investors LLP

2022-06-01

20.58%→21.92%

―

2022-04-28

6.08%→3.93%

―

2022-04-25

5.08%→6.08%

―

2022-04-19

5.08%

Silchester International Investors LLP

2021-11-30

18.42%→20.58%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-08-05

Large Shareholding Report

Sumitomo Osaka Cement Co.,Ltd.

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Sumitomo Osaka Cement Co.,Ltd.

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