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Overview

Glass and Ceramics Products

A&A Material Corporation

A&A Material Corporation develops and manufactures high-performance building materials and industrial products based on over 100 years of expertise in non-combustible, fireproof, and heat-insulating technologies. Its construction and building materials segment covers non-combustible architectural materials, low-pressure melamine decorative boards, and fireproof steel coating works, while its industrial products and engineering segment supplies friction materials, sealing materials, thermal insulation products, and ship materials, including automotive friction components manufactured in Indonesia. The company serves diverse end markets including construction, shipbuilding, automotive, and industrial sectors through a group of 10 entities including manufacturing and engineering subsidiaries.

Market Cap

¥8.04B

US$51.2M

¥15.1B

US$96.6M

Stock¥1,453▼-1.69%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

5.7

LTM EV/EBIT

9.8

LTM PER

6.6

LTM PBR

0.5

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-7.4%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Feb 6, 26Post-DIC Decor merger announcement selloff

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

67%

33%

EquityD/E 0.49xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 37.7%

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

TAIHEIYO CEMENT CORPORATION

20.35%

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

4.12%

INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)

2.77%

A&A Material Corporation Employee Stock Ownership Association

2.66%

Yugen Kaisha Shobi

1.52%

Fuji Shokai Co., Ltd.

1.52%

Custody Bank of Japan, Ltd. (Trust Account E)

1.39%

MATSUI SECURITIES CO.,LTD.

1.32%

Yugen Kaisha Fukuda Shoji

1.06%

Kei TAKAHASHI

1.01%

Management

8 officers

Toru MAKINO

Representative Director, President

Apr 1979 Joined Chichibu Cement Co., Ltd. Oct 1998 Affiliated Companies Division, Taiheiyo Cement Corporation Nov 2001 General Planning Division Manager, A&A Material Corporation Apr 2008 Executive Officer and Sales Division Manager, Cement Business Division, D.C. Co., Ltd. Apr 2011 General Manager, Related Business Division, Taiheiyo Cement Corporation Apr 2012 Advisor, the Company Jun 2012 Director and Senior Managing Executive Officer, the Company Jun 2015 Representative Director, President, the Company (current) Jun 2026 Non-Executive Director, Kurion Corporation (current)

1956-01-14

Takehito OSHIMA

Director, Senior Managing Executive Officer

Apr 1987 Joined Asano Slate Co., Ltd. Jun 2016 Representative Director, President, Kanto Asano Pipe Co., Ltd. Apr 2017 Representative Director, President, A&A Osaka Co., Ltd. Apr 2019 Executive Officer, A&A Material Corporation; Representative Director, President, A&A Ibaraki Co., Ltd. Jul 2021 Executive Officer and General Manager, Internal Control and Risk Management Division, the Company Jun 2023 Director and Managing Executive Officer and General Manager, Building Materials Business Division, the Company Apr 2025 Director and Senior Managing Executive Officer and General Manager, Production and Logistics Division, the Company (current)

1963-03-22

Kazuto TAKAHARA

Director, Senior Managing Executive Officer

Apr 1988 Joined Ask Co., Ltd. Apr 2009 Representative Director, President, A&A Ibaraki Co., Ltd. Apr 2013 Representative Director, President, A&A Osaka Co., Ltd. Oct 2015 General Manager, Management Planning Division, A&A Material Corporation Apr 2018 General Manager, General Affairs Division; General Manager, IoT Promotion Division, Business Promotion Headquarters, the Company Apr 2019 Executive Officer, the Company Apr 2021 Executive Officer and General Manager, General Affairs Division and Legal Affairs Division, the Company Jul 2021 Executive Officer and General Manager, Hokkaido Branch, the Company Jun 2023 Director and Managing Executive Officer, the Company Jul 2023 Director and Managing Executive Officer and General Manager, Administration Division, the Company Apr 2025 Director and Senior Managing Executive Officer and General Manager, Administration Division, the Company (current)

1965-03-12

Emi TAKURA

Director

Apr 1981 Registered as Attorney-at-Law Apr 1984 Opened Takura Law Office (current) Jun 1997 Outside Corporate Auditor, Ask Co., Ltd. Apr 2013 Project Professor, Graduate School of Law, Aoyama Gakuin University Jun 2015 Outside Director, A&A Material Corporation (current)

1954-02-15

Tomoko SUGAYA

Director

Apr 1990 Joined Hazama Corporation Dec 2011 Registered as Attorney-at-Law Jan 2017 Opened Hijiribashi Law Office (current) Nov 2020 Special Member, Central Construction Dispute Review Board, Ministry of Land, Infrastructure, Transport and Tourism (current) Dec 2023 Member, Central Architect Examination Board, Ministry of Land, Infrastructure, Transport and Tourism (current) Jun 2024 Outside Director, A&A Material Corporation (current) Oct 2024 Member, Consumer Safety Investigation Committee, Consumer Affairs Agency (current) Apr 2025 Temporary Member, Social Infrastructure Development Council, Ministry of Land, Infrastructure, Transport and Tourism (current) Apr 2025 Member, Adachi City Building Examination Board (current) Apr 2025 Member, Shinagawa City Building Examination Board (current) Jan 2026 Member, Tokyo Metropolitan Building Examination Board (current)

1968-03-29

Yuichiro MATSUI

Full-time Corporate Auditor

Apr 1988 Joined Onoda Cement Co., Ltd. Mar 2006 Joined A&A Material Corporation Apr 2011 General Manager, Operations Division, Industrial Products and Engineering Sales Headquarters, the Company Apr 2014 Ask Sanshin Engineering Co., Ltd. Jun 2016 General Manager, Operations Division, Building Materials Business Division, the Company Apr 2017 General Manager, Operations Division, Industrial Products Business Division, the Company Apr 2020 General Manager, Internal Control Department, Internal Control and Risk Management Division, the Company Apr 2024 Deputy General Manager and General Manager, Internal Control Department, Internal Control and Risk Management Division, the Company Jun 2025 Full-time Corporate Auditor, the Company (current)

1964-05-09

Mariko TSURUMI

Corporate Auditor

Apr 1995 Joined Shoko Chukin Bank, Ltd. Dec 2008 Joined Shin Nihon & Co. (currently EY ShinNihon LLC) Sep 2011 Registered as Certified Public Accountant Feb 2022 Opened Mariko Tsurumi Certified Public Accountant Office (formerly Mariko Kobayashi CPA Office) (current) Sep 2022 Outside Corporate Auditor, Car Seven Digifield Co., Ltd. Dec 2022 Outside Corporate Auditor, Usonar Inc. Mar 2024 Outside Director (Audit and Supervisory Committee Member), Usonar Inc. Jun 2024 Outside Corporate Auditor, A&A Material Corporation (current); Outside Director (Audit and Supervisory Committee Member), Fujikura Composites Inc. (current) Oct 2025 Partner, Tsumiki Audit Corporation (current)

1971-06-22

Shigeki NAKAYAUCHI

Corporate Auditor

Apr 1992 Joined Nippon Cement Co., Ltd. Aug 2016 Group Leader, Management Group, Business Planning and Management Division, Taiheiyo Cement Corporation Apr 2024 General Manager, Business Planning and Management Division, Taiheiyo Cement Corporation Jun 2024 Outside Corporate Auditor, Chichibu Railway Co., Ltd. (current) Apr 2025 General Manager, Group Strategy Promotion Division, Taiheiyo Cement Corporation (current) Jun 2025 Outside Corporate Auditor, A&A Material Corporation (current)

1968-09-22

Large Shareholding Reports

Long Corridor Asset Management Limited

2026-06-16

14.32%

Taiheiyo Cement Corporation

2026-03-31

42.32%→14.68%

Annual report (as of 2026-03-31): 20.35%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-06

Q1 Earnings Flash

FY ending Mar 2027

A&A Material Corporation

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A&A Material Corporation

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