Overview
Services

TSUNAGU GROUP HOLDINGS Inc.

Tsunagu Group Holdings operates primarily in the Human Capital business, providing RPO (Recruitment Process Outsourcing) services, DX recruiting solutions, and segment media services targeting retail, food service, manufacturing, logistics, and healthcare sectors across Japan. The group leverages its proprietary big data platform 'TSUNAgram'—processing approximately 3 million annual applicant referrals—to optimize recruitment media selection and reduce hiring costs for large multi-location enterprises. Additionally, the group conducts a Staffing business encompassing temporary staffing, daily placement, and medical/nursing personnel dispatch, complemented by convenience store operations serving as practical staff training sites.

Market Cap
¥4.97B
US$31.7M
EV
¥3.81B
US$24.3M
Stock¥596▼-1.32%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.6
x
LTM EV/EBIT
4.2
x
LTM PER
9.6
x
LTM PBR
2.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-46.8%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jan 23, 26Strong Q3 FY2026 earnings results
MC → EV Bridge
4.97BUS$31.7MMarket Cap0.42BUS$2.65M+ Debt1.62BUS$10.4M− Cash0.00BUS$0.00M− Inv. Sec.0.05BUS$0.33M+ NCI3.81BUS$24.3MEV
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Performance & Balance
Revenue 5Y (¥B)
11.0US$70.3M'21/912.7US$81.1M'22/915.0US$95.8M'23/916.4US$105M'24/918.3US$117M'25/9
EBITDA 5Y (¥B)
0.17US$1.08M'21/90.46US$2.91M'22/90.70US$4.49M'23/90.96US$6.09M'24/91.06US$6.78M'25/9
Net Income 5Y (¥B)
-0.21-US$1.35M'21/90.49US$3.13M'22/90.13US$0.84M'23/90.36US$2.28M'24/90.51US$3.26M'25/9
Capital Structure
85%
EquityD/E 0.17xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.74US$4.74M2.19US$13.9M'21/91.27US$8.11M1.72US$11.0M'22/90.83US$5.31M0.78US$4.95M'23/90.92US$5.85M0.82US$5.22M'24/91.15US$7.32M0.16US$1.02M'25/9
Shareholders
Top 10 hold 48.6%
1
NISSO HOLDINGS Co.,Ltd.
18.73%
2
IE Engagement No. 2 Investment Limited Partnership
5.27%
3
Mitsuhiro YONEDA
5.23%
4
Yoneda Office Co., Ltd.
5.23%
5
Bansei Sogo Kenkyusho Co., Ltd.
2.88%
6
TSUNAGU GROUP HOLDINGS Inc. Employee Stock Ownership Association
2.76%
7
Bell Investment Limited Partnership No. 1
2.65%
8
Masahiro OKUBO
2.10%
9
Koji YANO
2.10%
10
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
1.68%
Management
8 officers
Mitsuhiro YONEDA
Representative Director, President
Apr 1993 Joined Recruit FromA Co., Ltd. (now Recruit Co., Ltd.) Feb 2007 Founded the Company; Representative Director, President Jan 2013 Representative Director, President, TS Planning Co., Ltd. (now Yoneda Office Co., Ltd.) (current) Nov 2013 Director, Tegaramiru Co., Ltd. Mar 2015 Director, Indival Co., Ltd. (now Tsunag Group HC Co., Ltd.) Apr 2015 Representative Director, President, Chance Creator Co., Ltd. Jun 2019 Director, Umex Co., Ltd. (now Tsunag Matching Success Co., Ltd.) Mar 2020 Director, Seven Global Linkage General Incorporated Association (current) Jan 2021 Representative Director, President and CEO, the Company Jan 2022 Chairman, Spot Work Association General Incorporated Association (current) Nov 2022 Director, International Talent Activation Support Organization (now public interest foundation) (current) Dec 2023 Representative Director, Executive Officer and President, the Company Dec 2024 Representative Director, President, the Company (current) Apr 2025 Outside Director, Nissoko Co., Ltd. (current)
1969-10-13
Hitoshi TADA
Director
Apr 1978 Joined Nomura Securities Co., Ltd. Jun 1999 Director, Nomura Securities Apr 2003 Managing Director, Nomura Securities Jun 2003 Managing Executive Officer, Nomura Securities Apr 2006 Senior Managing Executive Officer, Nomura Securities Oct 2008 Executive Officer and Senior Managing Director, Nomura Securities Apr 2009 Executive Vice President, Nomura Securities Jun 2010 Executive Vice President and CEO, Sales Division, Nomura Securities Apr 2011 Co-COO and Executive Vice President, Nomura Securities Apr 2012 Director and Chairman of the Executive Board, Nomura Securities Aug 2012 Senior Advisor, Nomura Securities Apr 2013 Advisor, Nomura Research Institute, Ltd. Jun 2013 Representative Director, President, Daiko Securities Business Co., Ltd. Dec 2013 Representative Director, President, Japan Business Services Co., Ltd. Apr 2015 Representative Director, Chairman, DSB Information Systems Co., Ltd. Dec 2015 Representative Director, Chairman, DSB Sourcing Co., Ltd. Apr 2016 Representative Director, Chairman, Japan Business Services Co., Ltd. Apr 2017 Outside Director, CERES, Inc. (current) Apr 2017 Director and Counselor, Daiko Securities Business Co., Ltd. Jun 2017 Counselor, Daiko Securities Business Co., Ltd. Nov 2017 Outside Director, Right-On Co., Ltd. Aug 2018 Outside Audit & Supervisory Board Member, Mercury Co., Ltd. (current) Apr 2019 Director, the Company (current) Apr 2021 Outside Audit & Supervisory Board Member, 400F Inc. Jun 2023 Outside Director, 400F Inc.
1955-06-29
Hiroaki ROKKAWA
Director
Apr 1997 Registered as attorney; joined Hori Sogo Law Office Jun 2002 Joined Barack Ferrazzano law firm (Chicago) Apr 2007 Joined Tokyo Aoyama Aoki Koma Baker & McKenzie law firm (now Baker & McKenzie Law Office) Apr 2007 Lecturer, Graduate School of Industrial Technology, Tokyo Metropolitan University (now Tokyo Metropolitan Institute of Technology) (current) Apr 2008 Representative Attorney, Ogasawara Rokkawa International Law Office Mar 2009 Outside Audit & Supervisory Board Member, Funai Asset Consultants Inc. (now Aoyama Asset Networks Inc.) (current) Apr 2012 Professor, Graduate School of Law, Tokai University (until 2017) Dec 2016 Director, the Company (current) Apr 2022 Representative Attorney, Uchisaiwaicho International Law Office (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), Meiji Machinery Co., Ltd. (current) Jun 2025 Outside Audit & Supervisory Board Member, Miyairi Valve Mfg. Co., Ltd. (current)
1963-06-10
Yasuto NAKAE
Director
Apr 1991 Joined Aoi Promotion Co., Ltd. (now AOI Pro. Inc.) Jul 2006 Executive Officer, AOI Pro. Inc. Jun 2008 Senior Executive Officer and Head of First Production Division, AOI Pro. Inc. Jun 2010 Managing Director, AOI Pro. Inc. Feb 2015 Representative Director, President, AOI Pro. Inc. Jan 2017 Representative Director, AOI TYO Holdings Co., Ltd. (now KANAMEL Co., Ltd.) Jan 2018 Representative Director, President and COO, AOI TYO Holdings Co., Ltd. Apr 2019 Director, the Company (current) Mar 2020 Representative Director, President and CEO, AOI TYO Holdings Co., Ltd. Jan 2021 Representative Director, Group CEO, AOI TYO Holdings Co., Ltd. (now KANAMEL Co., Ltd.) (current)
1967-04-28
Kenji FUJINO
Director
Jun 1994 Joined Nisso Kohsan Co., Ltd. Apr 2015 Executive Officer, Recruitment Division, Nisso Kohsan Apr 2019 Senior Executive Officer, Administration Division, Nisso Kohsan Apr 2020 Senior Executive Officer, Business Division, Nisso Kohsan Jun 2020 Director, Nisso Brain Co., Ltd. Nov 2021 Director, Vector Nobuwa Co., Ltd. Mar 2022 Director, LeafNxT Co., Ltd. Jul 2022 Managing Executive Officer, Nisso Kohsan Apr 2023 Senior Managing Executive Officer and COO, Nisso Kohsan Jun 2023 Director, Senior Managing Executive Officer and COO, Nisso Kohsan Oct 2023 Director, Senior Managing Executive Officer and COO, NISSO Holdings Co., Ltd. Apr 2024 Director, Senior Managing Executive Officer, COO and Head of Business Support Office, Nisso Kohsan; Audit & Supervisory Board Member, Vector Nobuwa Co., Ltd. (current) Dec 2024 Director, the Company (current) Apr 2025 Director, Senior Managing Executive Officer and COO, NISSO Holdings Co., Ltd. Jun 2025 Director, Executive Officer, NISSO Holdings Co., Ltd. (current) Representative Director, President and Executive Officer, Nisso Kohsan Co., Ltd. (current)
1973-08-13
Koji YANO
Full-time Audit & Supervisory Board Member
Apr 1998 Joined Recruit FromA Co., Ltd. (now Recruit Co., Ltd.) Apr 2007 Joined the Company Oct 2013 Executive Officer and Head of Marketing Division, the Company Sep 2014 Director and Head of Business Management Division, the Company Apr 2015 Director, Chance Creator Co., Ltd.; Audit & Supervisory Board Member, Tegaramiru Co., Ltd. Oct 2015 Director and Head of Corporate Support Office, the Company May 2017 Director and Head of Communication Strategy Division, the Company Apr 2018 Director and Head of Service Division, the Company Apr 2019 Director, Tsunag Solutions Co., Ltd. Oct 2021 Executive Fellow, Management Strategy Office, the Company Oct 2022 Executive Fellow, Corporate Planning Office, the Company Jul 2023 Head of Internal Audit Office, the Company Dec 2024 Full-time Audit & Supervisory Board Member, the Company (current)
1974-08-28
Mayumi TAKAOKA
Audit & Supervisory Board Member
Oct 2001 Joined Tokyo Office of Deloitte Touche Tohmatsu (now Deloitte Touche Tohmatsu LLC) May 2005 Registered as Certified Public Accountant Jan 2018 Representative, Mayumi Takaoka CPA Office (current) Nov 2021 Full-time Outside Audit & Supervisory Board Member, MyRefer Inc. (now TalentX Inc.) Dec 2022 Full-time Outside Audit & Supervisory Board Member, OKAN Inc. Apr 2024 Outside Audit & Supervisory Board Member, ELESTYLE Inc. (current) Jun 2024 Outside Audit & Supervisory Board Member, Future Space Transportation Systems Inc. (current) Dec 2024 Outside Audit & Supervisory Board Member, the Company (current)
1979-09-17
Ruriko TAKEUCHI
Audit & Supervisory Board Member
Dec 2005 Joined Azusa Audit LLC Mar 2009 Registered as Certified Public Accountant Jul 2011 Joined Unilever Japan Holdings K.K. Oct 2015 Joined Sugiyama Accounting Tax Corporation (current) Dec 2015 Registered as Certified Tax Accountant Jul 2017 Joined Optimus Group Co., Ltd. Jun 2018 Joined Cogent Labs, Inc. Dec 2018 Joined UiPath K.K. Jul 2023 Outside Audit & Supervisory Board Member, LogProstyle Group Inc. (now LogProstyle Inc.) (current) Dec 2023 Full-time Audit & Supervisory Board Member, Sagri Inc. Dec 2024 Outside Audit & Supervisory Board Member, the Company (current)
1984-10-19
Large Shareholding Reports
Yoneda Office Co., Ltd.
2026-06-29
5.05%→5.02%
Annual report (as of 2026-03-31): 5.23%
Innovation Engine Co., Ltd.
2026-03-17
4.41%→5.19%
Innovation Engine Co., Ltd.
2025-11-21
0.00%→4.41%
Innovation Engine Co., Ltd.
2025-11-21
0.00%→4.41%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-06-29
Large Shareholding Report
EDINET
2026-05-13
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINET
2026-03-17
Large Shareholding Report
TDnet
2026-02-09
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-22
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINETAmended
2025-11-26
Change Report
EDINET
2025-11-21
Large Shareholding Report
TDnet
2025-08-07
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-12
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-06
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-26
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINETAmended
2024-05-22
Amended Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-25
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-22
Annual Securities Report
EDINET
2022-08-15
Quarterly Securities Report
EDINET
2022-05-16
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-12-24
Annual Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-02-15
Quarterly Securities Report
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