Overview
Retail Trade

Japan Eyewear Holdings Co.,Ltd.

Japan Eyewear Holdings is a holding company operating two premium eyewear brands — Kaneko Optical (founded 1958) and999.9 (Four Nines, founded 1995) — focused on the design, manufacturing, and retail of high-quality eyeglass frames rooted in the craftsmanship tradition of Sabae, Fukui, Japan's leading eyewear production region. Kaneko Optical operates under a vertically integrated SPA model with four in-house factories producing approximately 110,000 frames annually, running 89 directly managed stores across Japan, France, China, and Hong Kong. Four Nines targets a premium segment with approximately 250 new models per year, distributing through 16 directly managed stores and a wholesale network of approximately 1,000 retailers globally across Japan, Singapore, and Asia.

Market Cap
¥51.0B
US$325M
EV
¥63.3B
US$403M
Stock¥2,105▼-1.96%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.4
x
LTM EV/EBIT
9.6
x
LTM PER
11.9
x
LTM PBR
2.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-26.4%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jun 15, 26Q1 FY2027/01 earnings announced
2Sep 14, 26Q2 FY2027/01 earnings announced
MC → EV Bridge
51.0BUS$325MMarket Cap15.8BUS$101M+ Debt3.62BUS$23.1M− Cash0.00BUS$0.00M− Inv. Sec.63.3BUS$403MEV
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Performance & Balance
Revenue 5Y (¥B)
13.5US$86.3M'24/116.7US$106M'25/118.6US$119M'26/1
EBITDA 5Y (¥B)
5.18US$33.0M'24/17.00US$44.7M'25/17.87US$50.2M'26/1
Net Income 5Y (¥B)
2.22US$14.1M'24/13.99US$25.5M'25/13.78US$24.1M'26/1
Capital Structure
55%
45%
EquityD/E 0.81xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
4.43US$28.2M16.6US$106M'24/13.93US$25.1M16.7US$107M'25/13.05US$19.5M15.6US$99.5M'26/1
Shareholders
Top 10 hold 69.2%
1
Kaneko Invest Co., Ltd.
37.49%
2
Custody Bank of Japan, Ltd. (Trust Account)
9.28%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
4.49%
4
Japan Corporate Growth Investment No. 1 Investment Limited Partnership
3.73%
5
NORTHERN TRUST CO.(AVFC) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
2.92%
6
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A.)
2.53%
7
Morgan Stanley MUFG Securities Co., Ltd.
2.43%
8
BNP PARIBAS MADRID/2S/JASDEC/SPANISH RESIDENTS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
2.26%
9
Nomura Trust and Banking Co., Ltd. (Investment Trust Account)
2.10%
10
CAMELLIA FUND I CAYMAN, LP (Standing Proxy: Daiwa Securities Co. Ltd.)
2.01%
Management
5 officers
Shinya KANEKO
Representative Director, President and CEO
Apr 1981 Joined Kaneko Optical Co., Ltd. Sep 1999 Representative Director, President, former Kaneko Optical Co., Ltd. Oct 2019 Representative Director, President, Kaneko Holdings Co., Ltd. Oct 2019 Representative Director, President, Kaneko Optical Co., Ltd. Dec 2022 Director, Four Nines Co., Ltd. (current) May 2023 Representative Director, President and CEO, the Company (current)
1958-08-11
Shunichi SHIBATA
Director, CFO
Apr 1989 Joined National Finance Corporation (now Japan Finance Corporation) Mar 1998 Joined Japan Management Association Consultants Inc. Jan 2000 Joined Fujitsu Kiden Ltd. (now Fujitsu Frontech Ltd.) Jan 2002 Joined Universal Studios Japan Inc. (now USJ LLC) Oct 2009 Joined Japan McDonald's Co., Ltd. Jun 2012 Joined Skylark Co., Ltd. (now Skylark Holdings Co., Ltd.) Jul 2019 Joined Techno System Co., Ltd. Dec 2019 Joined Kaneko Optical Co., Ltd. Feb 2022 Seconded to former Japan Eyewear Holdings Co., Ltd. Apr 2022 Director, General Manager of Administration Division, former Japan Eyewear Holdings Co., Ltd. Apr 2022 Representative Director, Four Nines Co., Ltd. Sep 2022 Director, Four Nines Co., Ltd. (current) Dec 2022 Director, Kaneko Optical Co., Ltd. (current) Dec 2022 Director, General Manager of Administration Division and General Manager of Administration Department, former Japan Eyewear Holdings Co., Ltd. May 2023 Director, CFO, the Company (current)
1966-12-09
Chiharu NAKAI
Director (Full-time Audit and Supervisory Committee Member)
Feb 2012 Joined Deloitte Touche Tohmatsu LLC Oct 2016 Registered as Certified Public Accountant Apr 2022 Seconded to Deloitte AG Mar 2024 Returned to Deloitte Touche Tohmatsu LLC, Tokyo Office Apr 2025 Director (Full-time Audit and Supervisory Committee Member), the Company (current) Apr 2025 Auditor, Kaneko Optical Co., Ltd. (current) Apr 2025 Auditor, Four Nines Co., Ltd. (current)
1983-11-28
Rin MORIGUCHI
Director (Audit and Supervisory Committee Member)
Oct 2004 Registered as Attorney-at-Law (Daiichi Tokyo Bar Association) Oct 2004 Joined Momo-o, Matsuo & Namba Apr 2009 Specialist (fixed-term), Market Division, Financial Services Agency Nov 2010 Returned to Momo-o, Matsuo & Namba Jan 2016 Partner, Momo-o, Matsuo & Namba (current) Oct 2021 Supervisory Officer, Escon Japan REIT Investment Corporation (current) Mar 2025 Provisional Outside Director (Audit and Supervisory Committee Member), the Company Apr 2025 Director (Audit and Supervisory Committee Member), the Company (current)
1979-12-02
Hidetoshi AKISATO
Director (Audit and Supervisory Committee Member)
Apr 2005 Joined Boston Consulting Group Oct 2010 Representative Director, JADE Co., Ltd. (now JADE Group Inc.) Jul 2013 Joined Jupiter Shop Channel Co., Ltd. Jul 2013 Joined Bain Capital Asia, LLC Aug 2017 Partner, Japan Corporate Growth Investment Co., Ltd. (current) Sep 2019 Outside Director, Sang Co., Ltd. (current) Oct 2019 Outside Director, Kaneko Optical Co., Ltd. Oct 2019 Outside Director, Kaneko Holdings Co., Ltd. Jun 2021 Outside Director, Peerot Japan Co., Ltd. (current) Aug 2021 Director, Four Nines Limited Aug 2021 Director, Four Nines Co., Ltd. Jul 2022 Outside Director, Overlap Co., Ltd. (current) Jul 2022 Director, Overlap Holdings Co., Ltd. (current) Oct 2022 Director (Audit and Supervisory Committee Member), former Japan Eyewear Holdings Co., Ltd. May 2023 Director (Audit and Supervisory Committee Member), the Company (current) Oct 2024 Director, T.I.C. Co., Ltd. (current) Dec 2024 Director, Totec Amenity Co., Ltd. (current) Dec 2024 Director, TS Co., Ltd. (current) Jan 2026 Director, Tenkosha Co., Ltd. (current) Jan 2026 Director, Kora Co., Ltd. (current)
1980-05-09
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2025-12-22
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Camellia Fund I Cayman GP, Ltd.
2025-10-29
7.80%→2.64%
NIC Fund I Japan GP, Ltd.
2025-10-29
14.43%→4.88%
Cerasus Fund I Cayman GP, Ltd.
2025-10-29
6.06%→2.05%
Kaneko Invest Co., Ltd.
2025-10-24
37.97%→37.67%
Annual report (as of 2026-07-31): 37.49%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-14
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
TDnet
2026-09-11
Q2 Earnings Flash
FY ending Jan 2027
EDINET
2026-07-07
Large Shareholding Report
TDnet
2026-06-12
Q1 Earnings Flash
FY ending Jan 2027
EDINET
2026-04-23
Annual Securities Report
Period: Feb 2025 – Jan 2026
EDINET
2025-12-22
Large Shareholding Report
TDnet
2025-12-11
Q3 Earnings Flash
FY ending Jan 2026
EDINET
2025-10-29
Large Shareholding Report
EDINET
2025-10-29
Large Shareholding Report
EDINET
2025-10-29
Large Shareholding Report
EDINET
2025-10-24
Large Shareholding Report
EDINET
2025-09-12
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-06-12
Q1 Earnings Flash
FY ending Jan 2026
EDINET
2025-04-28
Annual Securities Report
Period: Feb 2024 – Jan 2025
EDINETAmended
2025-02-10
Amended Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINETAmended
2024-12-12
Amended Annual Securities Report
Period: Feb 2023 – Jan 2024
TDnet
2024-12-12
Q3 Earnings Flash
FY ending Jan 2025
EDINET
2024-09-13
Semi-Annual Securities Report
Period: Feb 2024 – Jan 2025
EDINET
2024-06-14
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
TDnet
2024-06-13
Q1 Earnings Flash
FY ending Jan 2025
EDINET
2024-04-30
Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINET
2023-12-15
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINETAmended
2023-11-08
Amended Securities Registration Statement
EDINETAmended
2023-10-30
Amended Securities Registration Statement
EDINET
2023-10-12
Securities Registration Statement
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