Overview
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MIDAC HOLDINGS CO.,LTD.

MIDAC Holdings is a pure holding company heading an environmental services group focused on proper industrial waste treatment and the realization of a recycling-oriented society. The group operates across three segments: waste disposal (intermediate treatment including incineration, crushing, and water treatment, as well as final landfill disposal), waste collection and transportation, and brokerage/management services connecting waste generators with licensed processors. Operating primarily in the Chubu and surrounding regions of Japan, the group holds 'Excellent Industrial Waste Processor' certifications in Aichi Prefecture and Hamamatsu City, and handles a broad range of waste types including specially controlled hazardous industrial waste.

Market Cap
¥53.5B
US$341M
EV
¥60.9B
US$388M
Stock¥1,933▼-0.87%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
10.5
x
LTM EV/EBIT
12.3
x
LTM PER
17.9
x
LTM PBR
2.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-19.6%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 12, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
53.5BUS$341MMarket Cap13.8BUS$88.2M+ Debt5.69BUS$36.3M− Cash0.76BUS$4.82M− Inv. Sec.60.9BUS$388MEV
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Performance & Balance
Revenue 5Y (¥B)
6.38US$40.7M'22/37.77US$49.6M'23/39.55US$60.9M'24/310.9US$69.5M'25/311.8US$75.5M'26/3
EBITDA 5Y (¥B)
2.68US$17.1M'22/33.32US$21.2M'23/34.21US$26.9M'24/35.25US$33.5M'25/35.54US$35.3M'26/3
Net Income 5Y (¥B)
1.30US$8.30M'22/31.69US$10.7M'23/31.91US$12.2M'24/32.86US$18.3M'25/32.89US$18.4M'26/3
Capital Structure
57%
43%
EquityD/E 0.76xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
5.89US$37.6M7.67US$48.9M'22/36.73US$42.9M8.01US$51.1M'23/39.04US$57.7M10.5US$66.7M'24/38.37US$53.4M9.32US$59.5M'25/36.75US$43.1M13.1US$83.5M'26/3
Shareholders
Top 10 hold 70.9%
1
Fons Asset Management Co., Ltd.
29.78%
2
Katsuhiro KUMAGAI
14.95%
3
Custody Bank of Japan, Ltd. (Trust Account)
5.15%
4
Yukiko KUMAGAI
4.85%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
4.28%
6
Hiroyuki KUMAGAI
3.96%
7
Keiko KATO
2.36%
8
Kazushi YAITABASHI
2.18%
9
The Shizuoka Bank, Ltd. (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
1.83%
10
Hamamatsu Iwata Shinkin Bank
1.55%
Management
9 officers
Keiko KATO
Representative Director, President
Apr 1993 Joined Sato Sumio Tax Accountant Office (currently Meinan Keiei Tax Corporation) Jan 2001 Registered as a Tax Accountant Apr 2002 Joined Sogoe Yoshio Certified Public Accountant and Tax Accountant Office (currently Deloitte Tohmatsu Tax Co., Nagoya Office) Aug 2006 Director, Midac Holdings Co., Ltd.; General Manager, Accounting Division Apr 2010 Director, the Company; General Manager, Accounting Department, the Company Apr 2016 General Manager, Administration Department, the Company Jun 2016 Director, Midac Hamana Co., Ltd. (currently Midac Co., Ltd.) Apr 2019 Representative Director, President, the Company (current) Apr 2019 Senior Managing Director, Midac Hamana Co., Ltd. (currently Midac Co., Ltd.) Sep 2021 Representative Director, President, Midac Co., Ltd. (current)
1970-06-01
Hiroyuki KUMAGAI
Senior Managing Director
Mar 1980 Joined Kojima Seisou Co., Ltd. (currently the Company) Sep 1984 Director, Kojima Seisou Co., Ltd. Jul 2004 Senior Managing Director, Midac Holdings Co., Ltd. Apr 2010 Senior Managing Director, the Company (current) Apr 2010 General Manager, Industrial Waste Business Division, the Company Apr 2013 Business Division Manager, the Company Apr 2015 General Manager, Collection and Transportation Department, the Company Dec 2015 Representative Director, President, Midac Hamana Co., Ltd. (currently Midac Co., Ltd.) Sep 2021 Senior Managing Director, Midac Co., Ltd. Apr 2025 Director, Ohira Kosan Co., Ltd. (current)
1960-01-16
Hiroaki TAKADA
Director, General Manager, Corporate Planning Department
Apr 1991 Joined Daiko Denki Co., Ltd. Aug 2002 Joined Asahi Co., Ltd. Dec 2006 Joined Midac Holdings Co., Ltd. Jun 2007 Director, General Manager, Corporate Planning Office, Midac Holdings Co., Ltd. Apr 2010 Director, the Company (current) Apr 2010 General Manager, Corporate Planning Department, the Company (current) Oct 2021 Audit & Supervisory Board Member, Midac Konan Co., Ltd. (current) Apr 2022 Director, Midac Co., Ltd.
1968-04-09
Kiyohiko SUZUKI
Director, General Manager, Business Management Division
Feb 2000 Joined the Company Oct 2006 Director, the Company; General Manager, Sales Department, the Company Apr 2008 Director and Plant Manager, Midac Fujinomiya Co., Ltd. Apr 2015 Business Division Manager, the Company Jun 2019 Director, the Company (current) Dec 2021 Director, Midac Konan Co., Ltd. Apr 2022 Director, Midac Co., Ltd. (current) Apr 2022 General Manager, Business Management Division, the Company (current)
1973-09-07
Masahiko OCHI
Director, General Manager, Sales Management Division
Jan 2003 Joined the Company Mar 2012 General Manager, Sales Department, the Company Apr 2022 General Manager, Sales Management Division, the Company (current) Jun 2024 Director, Midac Co., Ltd. (current) Jun 2026 Director, the Company (current)
1975-03-01
Yoshitake KAWAKAMI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1981 Joined Saiden Chemical Co., Ltd. Mar 1983 Joined Miyama Co., Ltd. May 2019 Joined Midac Co., Ltd. (currently the Company) Aug 2022 Deputy Manager, Internal Audit Office Jun 2023 Director, the Company (Full-time Audit and Supervisory Committee Member) (current)
1958-06-10
Shinji ISHIKAWA
Outside Director (Audit and Supervisory Committee Member)
Apr 1997 Registered as an Attorney at Law Oct 2001 Joint Partner, Chukyo Law Office Jan 2015 Representative Partner, Chukyo Law Office Corporation (current) Apr 2015 Vice President, Aichi Bar Association Apr 2017 Deputy Director, Aichi Office, Japan Legal Support Center Jun 2019 Director (Audit and Supervisory Committee Member), the Company (current) Nov 2024 Audit Committee Member, Okazaki City (current)
1966-09-18
Tetsuya OKUGAWA
Outside Director (Audit and Supervisory Committee Member)
Apr 1985 Employed by Nagoya Regional Taxation Bureau Sep 1993 Joined Sato Sumio Tax Accountant Office (currently Meinan Keiei Tax Corporation) Oct 1993 Registered as a Tax Accountant Oct 1994 Joined Noda Yuji Certified Public Accountant and Tax Accountant Office Jan 2001 Joined Sogoe Yoshio Certified Public Accountant and Tax Accountant Office (currently Deloitte Tohmatsu Tax Corporation) Apr 2013 Visiting Professor, Graduate School of Law, Nagoya University of Economics (current) Apr 2018 Established Okugawa Tetsuya Tax Accountant Office; Head of Office (current) Jun 2021 Director (Audit and Supervisory Committee Member), the Company (current) Jun 2024 Outside Director, Kanoax Corporation (current)
1962-07-21
Hatsuo TAWARAYAMA
Outside Director (Audit and Supervisory Committee Member)
Jun 2005 Managing Director, Hamamatsu Shinkin Bank (currently Hamamatsu Iwata Shinkin Bank) Jun 2015 Chairman, Shizuoka Western Regional Shinkin Economic Research Institute Jun 2018 Chairman, Shinkin Economic Research Institute, General Incorporated Association Jul 2021 Vice Chairman of the Board and President, Hamamatsu Gakuin University, Kosei Gakuen Educational Corporation Jun 2022 Director (Audit and Supervisory Committee Member), the Company (current) Jul 2022 Chairman of the Board, Kosei Gakuen Educational Corporation (current)
1951-01-23
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-29
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-12-05
Amended Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-30
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-15
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-30
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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