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Overview

Iron and Steel

NICHIA STEEL WORKS,LTD.

Nichia Steel Works is Japan's leading manufacturer of plated wire products, producing a comprehensive range of zinc-plated and alloy-plated wire products (ordinary wire, specialty wire), high-strength bolts for construction and civil engineering, and tertiary processed products such as wildlife protection fencing. The company serves diverse end markets including public civil works, construction, automotive, power and telecommunications, and agriculture, leveraging over a century of proprietary plating and wire processing technology. Its competitive strengths lie in top domestic market share in plated wire, a broad product portfolio of high-value-added Number One/Only One products including the ToughGuard® ternary alloy plated wire series, and vertically integrated manufacturing capabilities across both eastern and western Japan production bases.

Market Cap

¥18.0B

US$114M

¥-6.27B

-US$39.9M

Stock¥400▼-1.48%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

LTM EV/EBIT

LTM PER

14.1

LTM PBR

0.3

2026-08-25 closing price basis: ranked #15 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-91B).

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-14.4%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

96%

EquityD/E 0.05xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 66.5%

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

NIPPON STEEL CORPORATION

25.98%

Nichia Kosan Co., Ltd.

7.96%

Custody Bank of Japan, Ltd. (Trust Account)

7.06%

NICHIA STEEL WORKS,LTD. Business Partners' Stock Ownership Association

6.72%

The Senshu Ikeda Bank, Ltd.

4.54%

Koshin KK Investment Limited Liability Partnership

3.73%

MUFG Bank, Ltd.

3.19%

NICHIA STEEL WORKS,LTD. Employee Stock Ownership Association

2.96%

The Minato Bank, Ltd.

2.24%

Nippon Life Insurance Company

2.16%

Management

11 officers

Toshinori ONISHI

Representative Director, President

Apr 1986 Joined Nippon Steel Corporation Apr 2011 General Manager, Sheet Products Division, Nippon Steel Corporation Oct 2012 General Manager, Sheet Products Planning Department, Sheet Products Division, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Apr 2015 General Manager, Sheet Products Sales Department, Sheet Products Division, Nippon Steel & Sumitomo Metal Corporation Apr 2017 Senior Manager, Nippon Steel & Sumitomo Metal Corporation (Deputy General Manager, Osaka Branch) Apr 2018 Executive Officer, Nippon Steel & Sumitomo Metal Corporation (Deputy General Manager, Osaka Branch) Apr 2019 Executive Officer, Nippon Steel Corporation (General Manager, Titanium Division) Apr 2020 Executive Officer, Nippon Steel Corporation (Assigned to the President's Office) Apr 2020 Advisor, the Company Jun 2020 Resigned from Nippon Steel Corporation Jun 2020 Representative Director, Executive Vice President, the Company Apr 2021 Representative Director, President, the Company (current)

1963-02-25

Hideaki GOTODA

Managing Director (in charge of Technology and Manufacturing Headquarters; General Manager, Manufacturing Headquarters)

Apr 1989 Joined Nippon Steel Corporation Nov 2000 Group Leader, Slab Control Group, Steelmaking Department, Kimitsu Works, Nippon Steel Corporation Oct 2002 Group Leader, Steelmaking Technology Group and Slab Control Group, Steelmaking Department, Kimitsu Works, Nippon Steel Corporation Oct 2003 Manager, No. 1 Steelmaking Plant, Steelmaking Department, Kimitsu Works, Nippon Steel Corporation Feb 2006 Group Leader, Slab Control Group, Steelmaking Department, Kimitsu Works, Nippon Steel Corporation Apr 2010 Group Leader, Wire Rod Control Group, Wire Rod Plant, Kimitsu Works, Nippon Steel Corporation Apr 2016 General Manager, Wire Rod Department, Kimitsu Works, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Mar 2020 Resigned from Nippon Steel Corporation Apr 2020 Advisor, the Company Jun 2020 Director, General Manager, Technology Headquarters and General Manager, Quality Assurance Department, the Company Oct 2020 Director, General Manager, Technology Headquarters, the Company Jun 2023 Director, General Manager, Manufacturing Headquarters and General Manager, Equipment Department, the Company Jun 2024 Managing Director (in charge of Technology and Manufacturing Headquarters; General Manager, Manufacturing Headquarters and General Manager, Equipment Department), the Company Apr 2025 Managing Director (in charge of Technology and Manufacturing Headquarters; General Manager, Manufacturing Headquarters), the Company (current)

1964-07-01

Koji YAMAUCHI

Managing Director (General Manager, Administration Headquarters; General Manager, General Affairs Department; General Manager, Affiliated Companies Department)

Apr 1990 Joined Sumitomo Metal Industries, Ltd. Apr 2009 Manager, Labor Office, General Affairs Department, Kashima Works, Sumitomo Metal Industries, Ltd. (currently Nippon Steel Corporation) Jul 2011 Manager, Personnel and Labor Planning Office, Human Resources and Labor Relations Department, Sumitomo Metal Industries, Ltd. (currently Nippon Steel Corporation) Oct 2012 Manager, Overseas Personnel Office, Human Resources and Labor Relations Department, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Oct 2016 General Manager, Labor and Procurement Department, Yawata Works, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Apr 2018 General Manager, Human Resources and Labor Relations Department and Manager, Health Promotion Office, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Jun 2022 Executive Officer, General Manager, General Affairs and Human Resources Department, Nippon Steel Pipe Co., Ltd. (seconded) Apr 2025 Advisor, the Company (seconded) Jun 2025 Director, General Manager, Administration Headquarters, the Company (assisting General Manager, Affiliated Companies Headquarters) Oct 2025 Director, General Manager, Administration Headquarters and General Manager, General Affairs Department, the Company (assisting General Manager, Affiliated Companies Headquarters) Jun 2026 Managing Director, General Manager, Administration Headquarters, General Manager, General Affairs Department and General Manager, Affiliated Companies Department, the Company (current)

1966-05-08

Fumitake TANAKA

Director (General Manager, Sales Headquarters)

Apr 1991 Joined the Company Apr 2012 General Manager, Nagoya Sales Office, the Company Oct 2015 General Manager, Wire Rod Products Sales Department, the Company Apr 2020 Deputy General Manager, Sales Headquarters and General Manager, Processed Products Sales Department, the Company Jun 2021 Director, General Manager, Sales Headquarters and General Manager, Processed Products Sales Department, the Company Apr 2024 Director, General Manager, Sales Headquarters, the Company (current)

1968-08-27

Kunihiro KIDO

Director (General Manager, Technology Headquarters)

Apr 1994 Joined the Company Jan 2011 General Manager, No. 2 Plant, Head Office, the Company Oct 2014 General Manager, Production Technology Department, the Company Jun 2017 General Manager, Production Technology Department and Manager, Overseas Business Headquarters, the Company Apr 2020 Deputy General Manager, Technology Headquarters, General Manager, Production Technology Department and Manager, Overseas Business Headquarters, the Company Sep 2021 Deputy General Manager, Technology Headquarters and General Manager, Production Technology Department, the Company Jun 2023 Director, General Manager, Technology Headquarters and General Manager, Production Technology Department, the Company Jul 2023 Director, General Manager, Technology Headquarters, the Company (current)

1969-07-19

Kyoshi ARIMOTO

Director (General Manager, New Business Planning Office; assists General Manager, Manufacturing Headquarters in production operations; assists General Manager, Administration Headquarters in systems operations)

Apr 1987 Joined Nippon Steel Trading Corporation (currently Nippon Steel Trading Corporation) Apr 2006 General Manager, Construction Materials and Sheet Products Department, Nippon Steel Trading Corporation Jan 2010 General Manager, Sheet Products Department, Nippon Steel Trading Corporation Apr 2012 General Manager, No. 2 Steel Products Sales Department, Nippon Steel Trading Corporation Oct 2013 General Manager, Construction Materials Sales Department, Nippon Steel & Sumikin Bussan Corporation (currently Nippon Steel Trading Corporation) Apr 2017 Executive Officer, Nippon Steel & Sumikin Bussan Corporation Apr 2020 Managing Executive Officer, Nippon Steel Trading Corporation Feb 2022 Resigned from Nippon Steel Trading Corporation Apr 2022 Advisor, the Company Jun 2024 Director, General Manager, New Business Planning Office, the Company (assists General Manager, Manufacturing Headquarters in production operations and General Manager, Administration Headquarters in systems operations) (current)

1964-08-16

Seiki TERAKAWA

Full-time Audit & Supervisory Board Member

Apr 1985 Joined Kobe Shinkin Bank Sep 1991 Resigned from Kobe Shinkin Bank Oct 1991 Joined the Company Apr 1998 General Manager, Nagoya Sales Office, the Company Jul 2000 General Manager, Accounting Department, the Company Dec 2002 General Manager, Wire Rod and Plate Products Sales Department, the Company Jan 2008 General Manager, Sales Headquarters, the Company Jun 2008 Director, General Manager, Sales Headquarters, the Company Apr 2012 Director, the Company May 2012 Vice President, Director, TSN Wires Co., Ltd. Jul 2021 Director, Assigned to the President's Office, the Company Sep 2021 Director, General Manager, Affiliated Companies Headquarters, the Company Jun 2026 Full-time Audit & Supervisory Board Member, the Company (current)

1962-05-07

Miho ISHIHARA

Director

Oct 1996 Joined Asahi Audit Corporation (currently Ernst & Young ShinNihon LLC / Azsa LLC) Jan 2002 Registered as Certified Public Accountant Jan 2006 Resigned from Asahi Audit Corporation Feb 2006 Joined Protiviti Japan K.K. (currently Protiviti LLC) Mar 2009 Resigned from Protiviti Japan K.K. Apr 2009 Joined EY Advisory Co., Ltd. (currently EY Strategy and Consulting Co., Ltd.) Apr 2010 Resigned from EY Advisory Co., Ltd. May 2010 Representative, Ishihara Certified Public Accountant Office (currently Ishihara Certified Public Accountant and Tax Accountant Office) (current) May 2010 Joined Hibiki Audit Corporation Dec 2010 Registered as Certified Tax Accountant Jul 2014 Partner, Hibiki Audit Corporation Jun 2019 Outside Audit & Supervisory Board Member, Yodogawa Steel Works, Ltd. (currently Yodoko Co., Ltd.) Jul 2019 Representative Partner, Hibiki Audit Corporation Jun 2022 Outside Director, the Company (current) May 2023 Outside Director, Audit and Supervisory Committee Member, Zuiko Corporation (current) Jun 2023 Resigned from Hibiki Audit Corporation Jul 2023 Joined Kainan Audit Corporation (current) Jun 2024 Outside Director, Yodogawa Steel Works, Ltd. (currently Yodoko Co., Ltd.) (current)

1969-02-17

Reiko KOJIMA

Director

Oct 2002 Registered as Attorney-at-Law Oct 2002 Joined Yodoyabashi Godo Law Office (currently Yodoyabashi Yamagami Godo Law Office) Jun 2025 Outside Director, the Company (current) Jun 2025 Outside Director, Audit and Supervisory Committee Member, Teika Co., Ltd. (current)

1978-03-08

Mariko KATSURA

Audit & Supervisory Board Member

Oct 1999 Joined Deloitte Touche Tohmatsu LLC Apr 2003 Registered as Certified Public Accountant Sep 2011 Resigned from Deloitte Touche Tohmatsu LLC Oct 2011 Head, Katsura Certified Public Accountant Office (current) Apr 2022 Full-time Audit & Supervisory Board Member, Prodelight Co., Ltd. Nov 2023 Outside Audit & Supervisory Board Member, Prodelight Co., Ltd. Apr 2024 Representative Director, KMT Partners Co., Ltd. (current) May 2024 Outside Audit & Supervisory Board Member, Mandai Co., Ltd. (current) May 2024 Outside Audit & Supervisory Board Member, Mandai Retail Holdings Co., Ltd. (current) Nov 2024 Outside Director, Audit and Supervisory Committee Member, Prodelight Co., Ltd. Jun 2025 Outside Audit & Supervisory Board Member, the Company (current)

1977-02-20

Kenichi TAKANO

Audit & Supervisory Board Member

Apr 1992 Joined Nippon Steel Corporation Apr 2009 Group Leader, General Affairs Group, General Affairs Department, Muroran Works, Bar and Wire Rod Division, Nippon Steel Corporation Apr 2012 Group Leader, Special Wire Rod Group, Bar and Wire Rod Sales Department, Bar and Wire Rod Division, Nippon Steel Corporation Oct 2012 Manager, Special Wire Rod Office, Bar and Wire Rod Sales Department, Bar and Wire Rod Division, Nippon Steel & Sumitomo Metal Corporation (currently Nippon Steel Corporation) Jul 2017 Manager, No. 2 Steel Bar Office, Bar and Wire Rod Sales Department, Bar and Wire Rod Division, Nippon Steel & Sumitomo Metal Corporation Apr 2019 Manager, No. 2 Steel Bar Office, Bar and Wire Rod Sales Department, Bar and Wire Rod Division, Nippon Steel Corporation Apr 2021 General Manager, Bar and Wire Rod Sales Department, Bar and Wire Rod Division, Nippon Steel Corporation Apr 2023 Senior Manager, Nippon Steel Corporation (Assigned as General Manager, Nagoya Branch) Apr 2026 Executive Officer, Nippon Steel Corporation (Assigned as General Manager, Bar and Wire Rod Division) (current) Jun 2026 Outside Audit & Supervisory Board Member, the Company (current)

1968-09-14

Large Shareholding Reports

Nomura Asset Management Co., Ltd.

2025-08-21

5.04%→4.03%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-07-30

Q1 Earnings Flash

FY ending Mar 2027

NICHIA STEEL WORKS,LTD.

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NICHIA STEEL WORKS,LTD.

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