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Overview

Securities and Commodities Futures

Integral Corporation

Integral Corporation is a Japan-based private equity firm that manages and operates PE investment funds targeting primarily unlisted mid-sized companies, pursuing value creation through a distinctive hands-on management support model ('i-Engine') where investment professionals are embedded on-site at portfolio companies from investment through exit. The firm addresses a broad range of deal types including business succession, management buyouts (MBO), and corporate carve-outs, and differentiates itself by combining fund investments with proprietary principal investments to demonstrate long-term commitment to management teams. In addition to its core PE business, Integral has expanded into real estate investment (launched November 2024) and global tech growth investing (launched March 2025), with total PE segment revenue of ¥13.3 billion for FY2025.

Market Cap

¥93.8B

US$597M

¥—B

Stock¥2,752▼-0.51%

US$1 = ¥157.05 (2026-10-22)

ROE

18.6%

* LTM NI / end-of-period equity

PBR

1.3

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-40.8%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

87%

EquityD/E 0.15xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 75.0%

as of 2026-06-30 · Source: Annual Securities Report

Reijiro YAMAMOTO

28.56%

Nobuo SAYAMA

23.82%

Kensaku MIZUTANI

7.92%

Yoshihiro HEMMI

6.24%

JPMSLLC CLIENT ASSETS SK JPY (Standing Proxy: Citibank, N.A., Tokyo Branch)

1.78%

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

1.62%

FIRST INTERNATIONAL BANK OF ISRAEL CLIENTS - GLOBAL (Standing Proxy: Citibank, N.A., Tokyo Branch)

1.53%

Makiko NAKADA

1.18%

Satoko HASEGAWA

1.17%

Hidetsune GOTO

1.17%

Management

9 officers

Reijiro YAMAMOTO

Representative Director, Partner

Apr 1984 Joined The Mitsui Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Jan 2000 Joined UNISON Capital Co., Ltd. (now UCH Co., Ltd.) Apr 2004 Joined GCA Corporation (now Houlihan Lokey K.K.), Director, Partner Oct 2005 Representative Director, Mezzanine Co., Ltd. (now MCo Co., Ltd.) Jan 2006 Representative Director, Partner, the Company (current) May 2007 Managing Director, GCA Corporation (now Houlihan Lokey K.K.) Jan 2009 Director, B.P.S. Co., Ltd. Dec 2009 Director, Yohji Yamamoto Inc. Nov 2011 Representative Director, Integral Investment Co., Ltd. (appointed) (current) Jan 2012 Representative Director, Integral Partners Co., Ltd. (current) Aug 2013 Statutory Auditor, Yohji Yamamoto Inc. (current) Oct 2013 Director, TBI Co., Ltd. (now TBI Holdings Co., Ltd.) Oct 2014 Director, Shinwa Co., Ltd. Oct 2014 Director, J-Trading Co., Ltd. Feb 2016 Director, Itokin Co., Ltd. (current) Feb 2016 Representative Director, Integral Investment Alpha Co., Ltd. (appointed) (current) Jan 2017 Outside Director, Aderans Co., Ltd. (current) Mar 2019 Director, Toyo Engineering Corporation (current) Oct 2019 Director, Sanden Retail Systems Corporation (current) Jun 2020 Director, K2TOP Holdings Co., Ltd. (now M&I Co., Ltd.) Jun 2020 Director, Mamezou Holdings Co., Ltd. (now JSEE Holdings Co., Ltd.) Nov 2020 Director, Openstream Holdings Co., Ltd. Apr 2021 Director, Mamezou Digital Holdings Co., Ltd. (now Mamezou Co., Ltd.) Apr 2021 Chairman of the Board, Skymark Airlines Inc. Mar 2022 Representative Director, Integral Brands Co., Ltd. (current) Aug 2023 Director, TCS Holdings Co., Ltd. (current)

1960-10-03

Yoshihiro HEMMI

Director, Partner

Apr 1980 Joined Mitsui & Co., Ltd. Aug 1990 Joined The Boston Consulting Group, Inc. Apr 1998 Partner, The Boston Consulting Group Jun 1998 Joined adidas Japan K.K. Jan 2001 Executive Vice President, adidas Japan K.K. Jun 2004 Representative Director, President, Tohato Inc. Sep 2007 Director, Partner, the Company (current) Dec 2009 Chairman of the Board, Yohji Yamamoto Inc. (current) Jan 2012 Director, Integral Partners Co., Ltd. (current) Jun 2013 Director, Luck Co., Ltd. Oct 2014 Director, Shinwa Co., Ltd. Oct 2014 Director, J-Trading Co., Ltd. Dec 2014 Director, Cubynet Holdings Co., Ltd. Apr 2015 Director, River Holdings Co., Ltd. (now Shinwa Co., Ltd.) Feb 2016 Chairman of the Board, Itokin Co., Ltd. (current) Aug 2016 Representative Director, Integral OS Co., Ltd. Jan 2019 Director, Big Tree Technology & Consulting Co., Ltd. Jun 2020 Director, K2TOP Holdings Co., Ltd. (now M&I Co., Ltd.) (current) Jun 2020 Director, Mamezou Holdings Co., Ltd. (now JSEE Holdings Co., Ltd.) Nov 2020 Director, Mamezou Digital Holdings Co., Ltd. (now Mamezou Co., Ltd.) Apr 2022 Director, Toppan Photomasks Inc. (now Texcend Photomask Co., Ltd.) Jun 2023 Statutory Auditor, Texcend Photomask Co., Ltd. Jul 2025 Director, Golf Digest Online Inc. (current)

1957-10-07

Kensaku MIZUTANI

Director, Partner

Apr 1998 Joined Mitsubishi Corporation Feb 2005 Joined Morgan Stanley Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Jan 2006 Joined GCA Corporation (now Houlihan Lokey K.K.) Dec 2007 Director, Partner, the Company (current) Jan 2009 Director, B.P.S. Co., Ltd. Jan 2012 Director, Integral Partners Co., Ltd. (current) Sep 2013 Director, TBI Co., Ltd. (now OUNH Co., Ltd.) Dec 2014 Director, Cubynet Holdings Co., Ltd. Mar 2016 Director, Convano Co., Ltd. Jun 2016 Director, Shinwa Co., Ltd. Jun 2017 Representative Director, Chairman, Horii Food Service Co., Ltd. Aug 2017 Director (Audit and Supervisory Committee Member), Shinwa Co., Ltd. Oct 2017 Outside Director, CRTM Holdings Co., Ltd. (now Direct Marketing Mix Co., Ltd.) (current) Oct 2017 Director, Customer Relations Telemarketing Co., Ltd. Sep 2018 Director, Big Tree Technology & Consulting Co., Ltd. Oct 2019 Director, Nitto FC Co., Ltd. Mar 2020 Director, T-Garden Co., Ltd. Jul 2020 Director, Convano Co., Ltd. Apr 2023 Director, Shinoken Group Co., Ltd. (current) Jun 2023 Director, United Precision Technologies Co., Ltd. (current) Jan 2025 Director, Yamane Holdings Co., Ltd. (current) Jun 2025 Director, Kitamura Holdings Co., Ltd. (current) Oct 2025 Director, Extrink Group Co., Ltd. (current)

1974-03-08

Makiko NAKADA

Director, Partner

Apr 1997 Joined The Sakura Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2001 Joined Daiwa SMBC Securities Co., Ltd. (now Daiwa Securities Co., Ltd.) Jun 2005 Joined McKinsey & Company, Inc. Dec 2007 Joined the Company Dec 2009 Statutory Auditor, Yohji Yamamoto Inc. Sep 2014 Director, Yohji Yamamoto Inc. Oct 2019 Representative Director, Nitto FC Co., Ltd. Jan 2020 Partner, the Company Dec 2022 Director, Nitto FC Co., Ltd. Aug 2023 Director, TCS Holdings Co., Ltd. (current) Mar 2024 Director, Partner, the Company (current) Mar 2024 Director, Integral Partners Co., Ltd. (current) Nov 2024 Representative Director, Japan Animal Care Holdings Inc. (current) Oct 2025 Director, MCT Holdings Co., Ltd. (current) Dec 2025 Representative Director, VH Holdings Co., Ltd. (current)

1974-06-02

Hirotaka TAKEUCHI

Outside Director

Apr 1969 Joined McCann-Erickson Hakuhodo, Inc. (now McCann Erickson (Japan) Inc.) Sep 1976 Lecturer, Harvard Business School Dec 1977 Assistant Professor, Harvard Business School Apr 1983 Associate Professor, Faculty of Commerce, Hitotsubashi University Apr 1987 Professor, Faculty of Commerce, Hitotsubashi University Jun 1989 Visiting Professor, Harvard Business School Apr 2008 Outside Director, the Company Feb 2010 Auditor, Nonaka Institute of Knowledge (General Incorporated Association) Apr 2010 Professor Emeritus, Hitotsubashi University Apr 2010 Advisor, Fast Retailing Co., Ltd. (current) Jul 2010 Professor, Harvard Business School Jun 2013 Director, t-lab Co., Ltd. (current) Jun 2014 Outside Director, P&E Directions Co., Ltd. (appointed) Dec 2014 Director, HLAB General Incorporated Association (current) Jun 2015 Outside Director, BrightPath Bio Co., Ltd. (current) Jun 2016 Outside Director, Daiwa Securities Group Inc. Jun 2016 Outside Director, Mitsui & Co., Ltd. Aug 2016 Chairman, Global Academy Co., Ltd. (current) Jun 2019 Chairman of the Board of Trustees, International Christian University (current) Jun 2019 Special Advisor, P&E Directions Co., Ltd. (current) Nov 2021 Trustee, Yanai Family Foundation (current) May 2023 Member, EHL (Ecole Hoteliere de Lausanne) Group International Advisory Board Mar 2024 Outside Director (Audit and Supervisory Committee Member), the Company Jul 2024 Advisor, Prometheus Foundation (current) Mar 2025 Outside Director, the Company (current) Apr 2025 Representative Director, Nonaka Institute of Knowledge (General Incorporated Association) (current)

1946-10-16

Masaru TOMITA

Outside Director

May 1985 Research Assistant, School of Computer Science, Carnegie Mellon University Jul 1987 Assistant Professor, School of Computer Science, Carnegie Mellon University Jun 1990 Associate Professor, Faculty of Environment and Information Studies, Keio University Apr 1994 Member, Graduate School of Media and Governance, Keio University Apr 1997 Professor, Faculty of Environment and Information Studies, Keio University Oct 1999 Deputy Director, International Center, Keio University Apr 2001 Director, Institute for Advanced Biosciences, Keio University Jul 2003 Founder and Technical Advisor, Human Metabolome Technologies, Inc. (current) Oct 2005 Dean, Faculty of Environment and Information Studies, Keio University Jul 2021 Representative Director, Tsuruoka Science Park General Incorporated Association (current) Apr 2023 Professor Emeritus, Keio University (current) Aug 2023 Outside Director, the Company (current)

1957-12-28

Masaaki KUSHIDA

Outside Director (Full-time Audit and Supervisory Committee Member)

Apr 1966 Joined The Industrial Bank of Japan, Ltd. (now Mizuho Bank, Ltd.) Feb 1995 Joined The Yokohama Rubber Co., Ltd. Mar 1995 Director, The Yokohama Rubber Co., Ltd. Jun 2000 Managing Statutory Auditor, The Yokohama Rubber Co., Ltd. Jun 2007 Advisor, The Yokohama Rubber Co., Ltd. Mar 2008 Full-time Statutory Auditor, the Company Jan 2012 Statutory Auditor, Integral Partners Co., Ltd. (current) Mar 2024 Outside Director (Full-time Audit and Supervisory Committee Member), the Company (current) Sep 2024 Statutory Auditor, Integral Real Estate Co., Ltd. (current) Mar 2025 Statutory Auditor, Integral Global Tech Partners Co., Ltd. (current)

1942-10-15

Masataka MITSUHASHI

Outside Director (Audit and Supervisory Committee Member)

Nov 1979 Joined Price Waterhouse & Co. (accounting firm) Sep 1997 Representative Partner, Aoyama Audit Corporation Oct 2003 Councillor, Chuo Aoyama Audit Corporation Jul 2004 Representative Director, Chuo Aoyama PwC Transaction Services Co., Ltd. Apr 2008 Partner, Arata Audit Corporation (now PwC Japan LLC) Jul 2009 Executive Officer, Arata Audit Corporation (now PwC Japan LLC) Jan 2010 Representative Director, Vice President, PricewaterhouseCoopers Co., Ltd. Jul 2012 Representative Executive Officer, Arata Sustainability Certification Organization Co., Ltd. (now PwC Sustainability LLC) Jul 2018 Executive Advisor, PwC Japan LLC Jul 2018 Chairman, PwC Sustainability LLC May 2019 Representative, Mitsuhashi Masataka CPA Office (current) May 2019 Representative Director, Sustainable Value Advisory Co., Ltd. (current) Jun 2019 Outside Statutory Auditor, FUJIFILM Holdings Corporation (current) Feb 2020 Outside Director, Skymark Airlines Inc. Mar 2020 Outside Director, Nippon Paint Holdings Co., Ltd. (current) Sep 2021 Outside Statutory Auditor, the Company Mar 2024 Outside Director (Audit and Supervisory Committee Member), the Company (current)

1957-09-30

Shin KIKUCHI

Outside Director (Audit and Supervisory Committee Member)

Apr 1982 Joined the Ministry of Home Affairs (now Ministry of Internal Affairs and Communications) Apr 1989 Registered as attorney-at-law (Japan) Apr 1989 Joined Mori Sogo Law Office (now Mori Hamada & Matsumoto) Sep 1997 Registered as attorney-at-law (New York State) Apr 1998 Partner, Hibiya Park Law Offices Oct 2004 Partner, Mori Hamada & Matsumoto Apr 2005 Member, Economic Law Committee, Japan Chamber of Commerce and Industry (current) Jun 2005 Outside Statutory Auditor, Jafco Co., Ltd. (now Jafco Group Co., Ltd.) Apr 2010 Visiting Professor, Graduate School of Law and Politics, University of Tokyo Apr 2020 Partner, Gaien Law Office (current) Jun 2020 Outside Director, NTT DOCOMO, INC. Jun 2022 Outside Statutory Auditor, Hakuhodo DY Holdings Inc. (current) Mar 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2025 Outside Statutory Auditor, Mitsui Chemicals, Inc. (current)

1960-01-17

Large Shareholding Reports

No filings

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-08-12

Semi-Annual Securities Report

Period: Jan 2026 – Dec 2026

Integral Corporation

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Integral Corporation

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