beluuga.ai

Overview

Glass and Ceramics Products

MARUWA CO.,LTD.

MARUWA is a manufacturer and seller of ceramic components and lighting equipment, serving semiconductor, automotive, and telecommunications markets. Its ceramic products segment includes high thermal conductivity substrates, high-strength substrates, semiconductor device components, automotive ceramic products, and noise suppression products, manufactured in Japan and Malaysia with sales offices across Taiwan, Europe, the Americas, Korea, China, and India. Its lighting equipment segment, operated through subsidiaries MARUWA SHOMEI and YAMAGIWA, covers LED high-brightness lighting, LED light source modules, facility and residential lighting, and lighting design solutions.

Market Cap

¥575B

US$3.66B

¥507B

US$3.23B

Stock¥46,560▼-2.39%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

16.4

LTM EV/EBIT

20.0

LTM PER

30.6

LTM PBR

3.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-4.0%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Nov 5, 25Earnings disappointment selloff

2Oct 15, 26US CPI surprise & CoreWeave bond fears trigger AI-semiconductor selloff (SOX -4.3%)

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

100%

EquityD/E 0.00xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 66.1%

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

Kobe Art Co., Ltd.

29.57%

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

10.30%

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

8.92%

Custody Bank of Japan, Ltd. (Trust Account)

8.89%

Makoto KOBE

2.43%

J.P. MORGAN BANK LUXEMBOURG S.A. 384513 (Standing Proxy: Mizuho Bank, Ltd.)

1.52%

GOLDMAN, SACHS & CO. REG (Standing Proxy: Goldman Sachs Japan Co., Ltd.)

1.15%

MSCO CUSTOMER SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

1.14%

CGML PB CLIENT ACCOUNT / COLLATERAL (Standing Proxy: Citibank, N.A., Tokyo Branch)

1.12%

Nomura Trust and Banking Co., Ltd. (Investment Trust Account)

1.10%

Management

7 officers

Haruyuki HAYASHI

Director and Chairman (in charge of Materials Development)

Apr 1990 Joined the Company Apr 1992 Chief Researcher, Development Department Jun 2001 Director, General Manager of Development Office Apr 2015 Director (in charge of Materials Development) Apr 2022 Vice Chairman Jun 2025 Director and Chairman (current)

1961-10-28

Toshiro KOBE

Representative Director, President and CEO

Mar 2001 Joined the Company Apr 2012 CEO, Components Company Jun 2016 Director (in charge of Business Strategy) Apr 2022 Representative Director, President and CEO (current)

1977-01-26

Manimaran ANTONI

Senior Managing Director (in charge of Production Improvement)

Mar 1995 Joined the Company Jan 1998 Representative, Maruwa (Malaysia) Sdn. Bhd. Jun 2001 Director, General Manager of Overseas Business Division Apr 2015 Director (in charge of Production Improvement) Apr 2022 Senior Managing Director (current)

1966-01-19

Daisuke YAMAGUCHI

Director, General Manager of Administration Division (in charge of Administration and IR)

Apr 2019 Joined the Company Apr 2022 General Manager, Human Resources and Labor Affairs Office Apr 2024 COO, Administration Division Jun 2025 Director, General Manager of Administration Division (current)

1976-12-23

Miho SAKAGUCHI

Outside Director (Audit and Supervisory Committee Member)

Oct 1998 Joined Tohmatsu Audit Corporation (now Deloitte Touche Tohmatsu LLC) Jan 2007 Opened Miho Sakaguchi CPA Office Mar 2007 Opened Certified Public Accountant and Tax Accountant Miho Sakaguchi Office, Director (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member) (current)

1974-06-19

Masao KUBO

Outside Director (Audit and Supervisory Committee Member)

Apr 1986 Joined Matsushita Electric Works, Ltd. (now Panasonic Holdings Corporation) Jul 2018 Full-time Audit & Supervisory Officer, Electric Works Company, Panasonic Corporation Oct 2021 Full-time Audit & Supervisory Officer, Panasonic Housing Solutions Co., Ltd. Apr 2024 Visiting Professor, Graduate School of Engineering, Osaka University (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) (current)

1962-03-11

Fumika YOSHIDA

Outside Director (Audit and Supervisory Committee Member)

Apr 1991 Joined Toppan Moore Systems Co., Ltd. (now TOPPAN Inc.) May 1994 Joined Japan J.D. Edwards K.K. (now Oracle Corporation Japan) Jan 2012 Joined Google K.K. (now Google G.K.) Aug 2019 Outside Director, Modulé Inc. Jun 2026 Outside Director (Audit and Supervisory Committee Member)

1967-11-03

Large Shareholding Reports

Capital Research and Management Company

2026-10-07

5.74%→5.36%

Capital Research and Management Company

2026-07-07

6.76%→5.74%

Asset Management One Co., Ltd.

2026-06-22

4.77%→4.01%

Capital Research and Management Company

2026-06-05

7.11%→6.76%

Nomura Asset Management Co., Ltd.

2026-06-04

5.69%→3.99%

Capital Research and Management Company

2026-05-22

7.48%→7.11%

Capital Research and Management Company

2026-03-23

7.99%→7.48%

Nomura Asset Management Co., Ltd.

2026-03-19

5.85%→5.69%

Nomura Asset Management Co., Ltd.

2026-02-03

4.92%→5.85%

Nomura Asset Management Co., Ltd.

2025-12-22

4.92%

Kobe Art Co., Ltd.

2025-10-17

28.48%→29.49%

Annual report (as of 2026-03-31): 29.57%

Kobe Art Co., Ltd.

2025-10-06

28.48%→29.48%

Annual report (as of 2026-03-31): 29.57%

Capital Research and Management Company

2025-09-22

7.73%→7.99%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-09-19

4.51%→4.43%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-07

Large Shareholding Report

MARUWA CO.,LTD.

Try the full product

MARUWA CO.,LTD.

Try the full product

More Japanese companies in Glass and Ceramics Products