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Overview

Transportation Equipment

Japan Engine Corporation

Japan Engine Corporation is the world's only company with an integrated system covering the development, design, manufacture, sales, and after-service of marine low-speed engines. The company's proprietary UE engines are recognized globally for their low fuel consumption, simple structure, and high reliability, with full compliance with IMO NOx Tier III regulations. As a first mover in next-generation marine fuels, the company is actively developing ammonia and hydrogen fuel engines to contribute to GHG reduction and a decarbonized society.

Market Cap

¥85.5B

US$545M

¥82.2B

US$524M

Stock¥10,200▼-0.78%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

12.3

LTM EV/EBIT

14.6

LTM PER

17.8

LTM PBR

4.5

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-41.6%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Aug 7, 26Q1 FY2027/03 earnings announced

2Oct 22, 26Five JPMorgan asset management entities filed amended large shareholding reports (special provision securities)

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

76%

24%

EquityD/E 0.32xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 53.5%

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

Mitsubishi Heavy Industries,Ltd.

14.83%

Namura Shipbuilding Co.,Ltd.

10.01%

CKB Co., Ltd.

5.69%

Kanax Co., Ltd.

5.20%

Shin Kurushima Dockyard Co., Ltd.

4.45%

Custody Bank of Japan, Ltd. (Trust Account)

3.37%

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

2.94%

Akasaka Diesels Ltd.

2.68%

Yamada Club 21 Corp.

2.56%

Sumitomo Mitsui Banking Corporation

1.78%

Management

10 officers

Ken KAWASHIMA

Representative Director, President

Apr 1993 Joined Mitsubishi Heavy Industries, Ltd. Oct 2007 Sales Section Manager, Marine Diesel Business Unit, Mitsubishi Heavy Industries, Ltd. Oct 2013 Deputy General Manager, Sales and SCM Promotion Department, Marine Engine Business Division, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (now Mitsubishi Heavy Industries Marine Machinery Co., Ltd.) Apr 2015 General Manager, Sales and SCM Promotion Department, Marine Engine Business Division, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. Jun 2015 Director of the Company Oct 2015 General Manager, Marine Engine Business Division, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. Apr 2017 Managing Director of the Company (in charge of Sales and Procurement) Jun 2017 Representative Director, Managing Director of the Company (in charge of Sales and Procurement) Jun 2018 Representative Director, President of the Company (current)

1970-08-04

Seiji SHINDO

Representative Director, Managing Director

Apr 1986 Joined Mitsubishi Heavy Industries, Ltd. Apr 2013 Deputy General Manager, Diesel Division, Mitsubishi Heavy Industries, Ltd. Apr 2015 Deputy General Manager, Marine Diesel Business Division, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (now Mitsubishi Heavy Industries Marine Machinery Co., Ltd.) Apr 2017 General Manager, Design Division of the Company Jul 2017 Executive Officer, General Manager, Design Division of the Company Jun 2019 Director of the Company (in charge of Technology) Jun 2021 Managing Director of the Company (in charge of Technology) Aug 2021 Representative Director, President, HyEng Co., Ltd.(current) Jun 2023 Representative Director, Managing Director of the Company (in charge of Technology) (current)

1962-01-27

Ken SHIBATA

Managing Director

Apr 1992 Joined Mitsubishi Heavy Industries, Ltd. Apr 2016 Deputy General Manager, Planning and Management Department, Business Management Division, Energy & Environment Domain, Mitsubishi Heavy Industries, Ltd. Apr 2017 Deputy General Manager, Planning and Management Department, Business Management Division, Power Domain, Mitsubishi Heavy Industries, Ltd. Jun 2017 Director of the Company Apr 2019 Chief Staff, Planning and Management Department, Business Management Division, Power Domain, Mitsubishi Heavy Industries, Ltd. Apr 2021 Executive Officer, General Manager, Administration Division of the Company Jun 2021 Director of the Company (in charge of Administration) Jun 2023 Managing Director of the Company (in charge of Administration) (current)

1969-07-01

Akifumi TERADA

Director, Executive Officer, General Manager, Manufacturing Division

Apr 1985 Joined Mitsubishi Heavy Industries, Ltd. Apr 2009 Deputy General Manager, Shipbuilding Department, Kobe Shipyard & Machinery Works, Mitsubishi Heavy Industries, Ltd. Apr 2013 General Manager, Kobe Shipbuilding and Offshore Works Department, Shipbuilding & Ocean Business Division, Mitsubishi Heavy Industries, Ltd. Oct 2013 General Manager, Kobe Naval Vessel Works Department, Naval Vessel Business Division, Defense & Space Domain, Mitsubishi Heavy Industries, Ltd. Apr 2017 General Manager, Kobe Naval Vessel Works Department, Naval Vessel Business Division, Defense & Space Segment, Mitsubishi Heavy Industries, Ltd. Apr 2019 General Manager, Kobe Naval Vessel Manufacturing Department, Naval Vessel and Special Machinery Business Division, Defense & Space Segment, Mitsubishi Heavy Industries, Ltd. Apr 2021 Deputy Division Head, Naval Vessel and Special Machinery Business Division, Defense & Space Segment, Mitsubishi Heavy Industries, Ltd. Oct 2021 Chief Engineer, Naval Vessel and Special Machinery Business Division, Defense & Space Segment, Mitsubishi Heavy Industries, Ltd. Apr 2022 Chief Engineer, Manufacturing Division of the Company Jul 2022 Executive Officer, General Manager, Manufacturing Division of the Company Jun 2024 Director, Executive Officer, General Manager, Manufacturing Division of the Company (current)

1962-10-15

Hisatoshi KUROSE

Director

Apr 1982 Joined Japan Airlines Co., Ltd. May 2009 General Manager, Kobe Branch, Japan Airlines Co., Ltd. Nov 2010 Representative Director, President, JAL ABC Co., Ltd. Sep 2019 Lecturer, Faculty of Economics, Meiji Gakuin University Jun 2021 Director of the Company (current)

1959-08-01

Jun SUZUKI

Director

Jul 1996 Lecturer, Faculty of Economics, Kobe University Jun 2000 Associate Professor, Graduate School of Economics, Kobe University Apr 2007 Associate Professor, Graduate School of Economics, Kobe University Oct 2019 Professor, Graduate School of Economics, Kobe University (current) Jun 2022 Director of the Company (current)

1967-10-01

Fumie NAKAJIMA

Director

Apr 1988 Joined Panasonic Mutual Aid Society (now Panasonic Mutual Aid Society) Nov 1995 Joined Century Audit Corporation (now EY ShinNihon LLC) Apr 1999 Registered as Certified Public Accountant Jul 2001 Head, Nakajima Certified Public Accountant Office (current) Jun 2026 Director of the Company (scheduled to assume)

1967-10-23

Katsuto MATSUI

Full-time Corporate Auditor

Apr 1990 Joined Sumitomo Bank (now Sumitomo Mitsui Banking Corporation) Oct 1997 Deputy Manager, First Credit Examination Department, Sumitomo Bank Apr 2001 Examiner, Third Corporate Credit Examination Department (Osaka), Sumitomo Bank Oct 2001 Deputy Manager, Tamatsukuri Corporate Sales Department, Sumitomo Bank Jul 2003 Loan Officer, Tamatsukuri Corporate Sales Department, Sumitomo Bank Apr 2006 Head of Credit Group, Second Corporate Sales Department, Kobe, Sumitomo Bank Apr 2013 Senior Examiner, Second Corporate Credit Examination Department, Sumitomo Bank Apr 2015 Department Manager (attached), Himeji Corporate Sales Department, Sumitomo Bank Apr 2017 Senior Auditor, Audit Department (Osaka), Sumitomo Bank Jun 2020 Corporate Auditor of the Company (current)

1967-04-09

Masaki FUJITA

Corporate Auditor

Apr 1979 Joined Osaka Gas Co., Ltd. Oct 2001 General Manager, Corporate Research Office, Secretariat Department, Osaka Gas Co., Ltd. Jun 2005 General Manager, Southern Living Sales Department, Living Business Division, Osaka Gas Co., Ltd. Jun 2008 General Manager, Living Development Department, Living Business Division, Osaka Gas Co., Ltd. Jun 2010 Executive Officer, Osaka Gas Co., Ltd. Apr 2011 Managing Executive Officer, in charge of Kyoto and Shiga Regional Management and Kyoto Regional Manager, Osaka Gas Co., Ltd. Jun 2013 Director, Managing Executive Officer, Osaka Gas Co., Ltd. Apr 2014 Director, Managing Executive Officer, in charge of Secretariat, Public Relations, Human Resources, General Affairs and Materials Departments, Osaka Gas Co., Ltd. Apr 2016 Director, Chairman, Ogis-RI Co., Ltd., Osaka Gas Co., Ltd. Jun 2016 Advisor, Osaka Gas Co., Ltd. Jun 2018 Corporate Auditor of the Company (current) Apr 2020 Counselor, Osaka Gas Co., Ltd.; Advisor, Ogis-RI Co., Ltd. Mar 2021 Vice President and Managing Director, Kinki Regional Baseball Federation of Japan Apr 2022 Advisor, Nihon Business Development Co., Ltd. Apr 2023 Representative Director, President, Osaka International Convention Center Co., Ltd. (current)

1957-02-25

Takashi OMOMO

Corporate Auditor

Apr 1998 Joined Mitsubishi Heavy Industries, Ltd. Apr 2017 Group Manager, Human Resources and General Affairs Department, Human Resources Group, Mitsubishi Hitachi Power Systems, Ltd. (now Mitsubishi Power, Ltd.) Apr 2024 Group Manager, Business Planning Group, Energy Domain Business Planning Department, Mitsubishi Heavy Industries, Ltd. Apr 2026 General Manager, Energy Domain Business Planning Department, Mitsubishi Heavy Industries, Ltd. (current) Jun 2026 Corporate Auditor of the Company (scheduled to assume)

1975-08-11

Large Shareholding Reports

J.P. Morgan Asset Management Co., Ltd.

2026-10-20

6.96%→6.93%

J.P. Morgan Asset Management (Japan) Limited

2026-10-05

6.77%→6.96%

J.P. Morgan Asset Management (Japan) Limited

2026-09-18

6.75%→6.77%

J.P. Morgan Asset Management (Japan) Limited

2026-09-03

6.27%→6.75%

J.P. Morgan Asset Management (Japan) Limited

2026-07-21

6.27%→6.27%

J.P. Morgan Asset Management (Japan) Limited

2026-06-18

6.28%→6.27%

J.P. Morgan Asset Management (Japan) Limited

2026-06-03

6.31%→6.28%

J.P. Morgan Asset Management (Japan) Limited

2026-05-08

6.35%→6.31%

J.P. Morgan Asset Management (Japan) Limited

2026-04-20

6.35%→6.35%

Kanax Co., Ltd.

2026-04-01

5.20%→5.20%

Annual report (as of 2026-03-31): 5.20%

Kanax Co., Ltd.

2026-03-31

5.20%→5.20%

Annual report (as of 2026-03-31): 5.20%

J.P. Morgan Asset Management (Japan) Limited

2026-03-18

5.72%→6.35%

J.P. Morgan Asset Management (Japan) Limited

2026-02-18

5.40%→5.72%

J.P. Morgan Asset Management (Japan) Limited

2026-02-04

5.40%→5.40%

J.P. Morgan Asset Management (Japan) Limited

2026-01-20

5.06%→5.40%

J.P. Morgan Asset Management (Japan) Limited

2026-01-06

5.06%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-20

Large Shareholding Report

Japan Engine Corporation

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Japan Engine Corporation

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