Overview
Electric Appliances

TOA CORPORATION

TOA Corporation develops, manufactures, and sells professional audio and video equipment, with core products spanning public address systems, emergency broadcast equipment, network cameras, IP audio devices, and communication systems. The company serves diverse end markets including large commercial facilities, transportation infrastructure (railways, airports), public safety, and disaster prevention sectors. TOA differentiates through integrated audio-visual solutions combining hardware with IoT/network capabilities, AI-enabled surveillance, and specialized broadcasting systems for aviation and emergency response applications.

Market Cap
¥59.6B
US$380M
EV
¥31.0B
US$198M
Stock¥1,718▲+0.23%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.4
x
LTM EV/EBIT
5.3
x
LTM PER
15.3
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.8%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 29, 25Post-earnings adjustment selling
2Dec 9, 25Profit-taking after sharp gains
MC → EV Bridge
59.6BUS$380MMarket Cap2.16BUS$13.8M+ Debt25.9BUS$165M− Cash8.20BUS$52.3M− Inv. Sec.3.33BUS$21.2M+ NCI31.0BUS$198MEV
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Performance & Balance
Revenue 5Y (¥B)
40.9US$261M'22/345.1US$288M'23/348.8US$311M'24/350.6US$323M'25/355.4US$353M'26/3
EBITDA 5Y (¥B)
3.53US$22.5M'22/33.21US$20.5M'23/34.62US$29.5M'24/35.23US$33.4M'25/36.53US$41.6M'26/3
Net Income 5Y (¥B)
1.47US$9.35M'22/31.77US$11.3M'23/32.00US$12.7M'24/32.36US$15.1M'25/33.31US$21.1M'26/3
Capital Structure
96%
EquityD/E 0.04xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
25.1US$160M2.91US$18.6M'22/324.2US$154M3.84US$24.5M'23/324.5US$156M3.02US$19.3M'24/328.0US$178M2.98US$19.0M'25/334.8US$222M1.37US$8.76M'26/3
Shareholders
Top 10 hold 46.9%
1
TOA Business Partners' Stock Ownership Association
8.36%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
8.22%
3
Kobe Yamabuki Foundation (Public Interest Incorporated Foundation)
5.76%
4
MUFG Bank, Ltd.
4.32%
5
SYSMEX CORPORATION
4.20%
6
Nakatani Foundation (Public Interest Incorporated Foundation)
3.74%
7
Kenji ITANI
3.61%
8
Sumitomo Mitsui Banking Corporation
3.43%
9
Kyoto University (National University Corporation)
2.88%
10
TOA CORPORATION Employee Stock Ownership Association
2.43%
Management
10 officers
Masahiro TANIGUCHI
Representative Director, President
Apr 1994 Joined the Company Jan 2005 President, TOA CORPORATION (UK) LIMITED Apr 2009 General Manager, Corporate Planning Office Apr 2016 General Manager, Administration Division Apr 2017 Executive Officer, General Manager, Administration Division Apr 2020 Executive Officer, General Manager, Global Development Division Jun 2022 Director, Executive Officer, General Manager, Global Development Division Jun 2023 Representative Director, President (current) Nov 2025 Vice President, Takarazuka Chamber of Commerce and Industry (current)
1969-08-01
Hiroshi HAYAKAWA
Director, Executive Officer, General Manager, Domestic Sales Division
Apr 1986 Joined the Company Apr 2013 General Manager, Kyushu-Okinawa Sales Department, Sales Division Apr 2017 General Manager, Metropolitan Area Sales Department, Domestic Sales Division, Sales Operations Headquarters Apr 2018 Executive Officer, General Manager, Solutions Sales Division Jun 2022 Director, Executive Officer, General Manager, Solutions Sales Division Apr 2026 Director, Executive Officer, General Manager, Domestic Sales Division (current)
1962-08-26
Takashi NISHINO
Director, Executive Officer, General Manager, Overseas Business Division
Apr 1995 Joined the Company Apr 2012 President, Acose Corporation Apr 2014 President, PT. TOA GALVA INDUSTRIES. Apr 2017 Deputy General Manager, Asia-Pacific Business Department, Overseas Business Division Jan 2018 General Manager, Asia-Pacific Business Department, Overseas Business Division; Senior Product Director; President, TOA ELECTRONICS PTE LTD; President, TOA ELECTRONICS (M) SDN. BHD. Apr 2018 Executive Officer, General Manager, Asia-Pacific Business Department, Overseas Business Division Apr 2024 Executive Officer, General Manager, Overseas Business Division Jun 2024 Director, Executive Officer, General Manager, Overseas Business Division Apr 2026 Director, Executive Officer, General Manager, Overseas Business Division; in charge of Quality Assurance Office (current)
1970-04-12
Toru OTONO
Director, Executive Officer, General Manager, Development Division
Apr 1987 Joined the Company Apr 2009 General Manager, Audio Development Department, Audio Development Division Apr 2012 General Manager, Overseas Development Department, Overseas Business Division Apr 2017 President, Takex Corporation Apr 2019 General Manager, Core Product Development Department, Global Development Division Apr 2021 General Manager, Product Marketing Department, Global Development Division Apr 2022 Executive Officer, Deputy General Manager, Global Development Division Jun 2023 Executive Officer, General Manager, Global Development Division Jun 2025 Director, Executive Officer, General Manager, Global Development Division Apr 2026 Director, Executive Officer, General Manager, Development Division (current)
1964-09-10
Masashi MURATA
Director
Apr 1983 Joined Asahi Glass Co., Ltd. (now AGC Inc.) Aug 1999 Joined Santen Pharmaceutical Co., Ltd.; General Manager, Corporate Planning Office Sep 2001 Group Manager, Business Planning Group, Pharmaceutical Business Division, Santen Jul 2002 Group Manager, Ophthalmology Marketing Group, Pharmaceutical Business Division, Santen Jan 2005 Group Manager, Business Strategy Planning Group, Pharmaceutical Business Division, Santen Apr 2007 General Manager, Corporate Planning Office, Santen Jul 2011 Chief Administrative Officer (CAO), Santen Inc. Jan 2014 General Manager, Audit & Supervisory Office, Santen Jun 2016 Full-time Corporate Auditor, Santen Jun 2020 Senior Advisor, Santen Jun 2021 Director, the Company (current); Outside Corporate Auditor, Osaka Titanium Technologies Co., Ltd. Jun 2022 Outside Director (Audit and Supervisory Committee Member), Osaka Titanium Technologies Co., Ltd. (current) Jun 2026 Outside Director (Audit and Supervisory Committee Member), Osaka Titanium Technologies Co., Ltd. (scheduled to retire)
1958-03-19
Minoru HANDA
Director
Apr 1982 Joined Sony Corporation (now Sony Group Corporation) Jun 1996 General Manager, Quality Assurance Department, Sony Manufacturing Company UK Bridgend Plant Jan 2001 General Manager, Quality Assurance Department, Sony Electronics Inc. San Diego Plant Apr 2003 Vice President (Quality), Sony Electronics Inc. Feb 2007 General Manager, Quality Assurance Department, Energy Device Business Division, Sony Corporation (now Sony Group Corporation) Feb 2013 Deputy General Manager, Quality & Environment Center, Sony Corporation Sep 2014 Seconded to Green Cycle Corporation as Representative Director, President Nov 2019 Joined Inoue Kiko Co., Ltd. as Plant Manager Feb 2022 Joined Arakawa Kogyo Co., Ltd. as Executive Officer (in charge of Arakawa Kogyo Materials Co., Ltd.) Feb 2022 Seconded to Arakawa Kogyo Materials Co., Ltd. as Executive Officer (Assistant to the President) Jun 2022 Director, the Company (current) Aug 2022 Representative Director, President, Arakawa Kogyo Materials Co., Ltd.
1959-10-16
Yukiko TSUJIMOTO
Director
Apr 1986 Joined Procter & Gamble Far East, Inc. Mar 2006 Director, Procter & Gamble Japan K.K. Apr 2008 Director, P&G Japan K.K. Jul 2012 Executive Officer, Communications Director, Public Affairs Division, Procter & Gamble Japan K.K. (now P&G Japan G.K.) Nov 2014 Representative Director, shapes Inc. (current) Apr 2015 Talent Development Advisor, Kobe City Apr 2018 Member, Kobe City Personnel Commission May 2019 Outside Director, Kirindo Holdings Co., Ltd. Jun 2020 Outside Director, Duskin Co., Ltd. Mar 2022 Outside Director, Sakata INX Corporation (current) Apr 2022 Counselor, Administrative and Fiscal Affairs Bureau, Kobe City Apr 2024 Advisor, Administrative and Fiscal Affairs Bureau, Kobe City
Takeshi NISHIGAKI
Full-time Corporate Auditor
Apr 1987 Joined the Company Mar 2001 President, TOA Electronics Europe G.m.b.H. Apr 2008 President, TOA Electronics Europe G.m.b.H. and President, TOA CORPORATION (UK) LIMITED Jun 2008 Executive Officer; President, TOA Electronics Europe G.m.b.H. and President, TOA CORPORATION (UK) LIMITED Apr 2009 Executive Officer; General Manager, Overseas Sales Department, Overseas Sales Division; General Manager, Europe & Russia Sales Department; President, TOA CORPORATION (UK) LIMITED Apr 2010 Executive Officer, General Manager, Technology Division Apr 2016 Executive Officer, Deputy General Manager, Development Division Jun 2017 Executive Officer, General Manager, Development Division Jun 2020 Corporate Auditor (current)
1963-12-11
Kazuyo NISHIGATA
Corporate Auditor
Oct 2003 Registered as attorney-at-law; joined Kobe Partners Law Office (now Kobe Partners Law Corporation) Apr 2005 Legal Consultant, Kobe City Center for Gender Equality and Social Participation Apr 2006 DV Legal Consultant, Hyogo Prefectural Women's and Family Center Apr 2018 Member, Kobe City Real Estate Review Board Jun 2018 Deputy Director, Trust Center, Japan Federation of Bar Associations Nov 2020 Member, Hyogo Prefectural Information Disclosure and Personal Information Protection Council (current) Apr 2021 Director, Japan Federation of Bar Associations Jun 2022 Corporate Auditor, the Company (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member), Kogyo Kogyo Co., Ltd. (current) May 2025 Partner Attorney, Kobe Partners Law Corporation (current)
1969-04-22
Shu SAWA
Corporate Auditor
Apr 1999 Joined Asahi Audit Corporation (now Azsa LLC) Apr 2002 Registered as Certified Public Accountant Sep 2009 Transferred to KPMG Tax Corporation; Part-time Lecturer, Graduate School of Business Administration, Kwansei Gakuin University Dec 2009 Registered as Tax Accountant Apr 2011 Established Sawa CPA Office, Representative (current) Jun 2023 Corporate Auditor, the Company (current) Jun 2024 Outside Corporate Auditor, Toyo Machinery & Metal Co., Ltd. (now TOYO INNOVEX Co., Ltd.) (scheduled to retire) Apr 2026 Outside Director (Audit and Supervisory Committee Member), GMS Group Co., Ltd. (current)
1976-08-08
Large Shareholding Reports
Sumitomo Mitsui Banking Corporation
2025-12-22
3.48%
Annual report (as of 2026-03-31): 3.43%
TOA Business Partners Shareholding Association, Chairman Koji TOMINAGA
2025-09-16
6.85%→7.86%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-04
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-29
株主総会招集通知
TDnet
2026-02-03
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-22
Large Shareholding Report
EDINETAmended
2025-12-16
Amended Securities Registration Statement
EDINETAmended
2025-12-16
Amended Securities Registration Statement
EDINET
2025-12-08
Securities Registration Statement
EDINET
2025-12-08
Securities Registration Statement
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-16
Large Shareholding Report
TDnet
2025-08-04
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-03
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-02
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-04-15
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-21
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
2022-08-10
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-22
Annual Securities Report
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