Overview
Electric Appliances

TAMAGAWA HOLDINGS CO.,LTD.

Tamagawa Holdings operates two core business segments: an Electronics & Communications Equipment business, which develops, manufactures, and sells high-frequency electronic components (attenuators, splitters, couplers, switches, filters) and optical/electronic application devices (optical transmission equipment, frequency converters, amplifiers, millimeter-wave products); and a Renewable Energy business, which generates and sells electricity from solar and small wind power plants across Japan, as well as develops and sells power generation facilities. The group pursues investment activities including M&A and securitization to support corporate and social revitalization in Japan.

Market Cap
¥10.3B
US$66.0M
EV
¥9.66B
US$61.6M
Stock¥1,134▼-1.22%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.1
x
LTM EV/EBIT
9.3
x
LTM PER
5.0
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+22.2%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jun 16, 26Q2 FY2026/10 earnings announced
2Sep 15, 26Q3 FY2026/10 earnings announced
MC → EV Bridge
10.3BUS$66.0MMarket Cap4.31BUS$27.5M+ Debt4.75BUS$30.3M− Cash0.25BUS$1.59M− Inv. Sec.9.66BUS$61.6MEV
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Performance & Balance
Revenue 5Y (¥B)
2.36US$15.0M'24/105.59US$35.6M'25/10
EBITDA 5Y (¥B)
0.12US$0.79M'24/100.63US$3.99M'25/10
Net Income 5Y (¥B)
-0.11-US$0.72M'24/100.27US$1.71M'25/10
Capital Structure
69%
31%
EquityD/E 0.45xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.97US$12.5M3.65US$23.3M'24/102.08US$13.3M3.72US$23.7M'25/10
Shareholders
Top 10 hold 38.5%
1
BNP Paribas Singapore/2S/Jasdec/UOB Kay Hian Private Limited (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
8.05%
2
PY Opulence Investment Pte.Ltd. (Standing Proxy: Citibank, N.A., Tokyo Branch)
7.23%
3
BNYM AS AGT/CLTS NON TREATY JASDEC (Standing Proxy: MUFG Bank, Ltd.)
4.23%
4
SBI SECURITIES Co., Ltd.
3.94%
5
DBS BANK LTD. 700104 (Standing Proxy: Mizuho Bank, Ltd.)
3.64%
6
Toru MASUZAWA
2.82%
7
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
2.60%
8
MATSUI SECURITIES CO.,LTD.
2.38%
9
Hiromasa SHIMANUKI
2.03%
10
Rakuten Securities, Inc. (Joint Account)
1.58%
Management
13 officers
Toru MASUZAWA
Representative Director, President
Born May 1961 Apr 1985 Joined Wako Securities Co., Ltd. (currently Mizuho Securities Co., Ltd.) Jun 1994 Joined Commerz Bank South East Asia (Manager) Jun 1998 Vice President, HSBC Bank Dec 1999 Director, Barclays Private Bank Jan 2003 Managing Director, Timesquare Venture Jul 2003 Executive Officer, J-Bridge Co., Ltd. (currently Asia Development Capital Co., Ltd.) Jul 2004 Representative Director, President, J-Bridge Co., Ltd. (currently Asia Development Capital Co., Ltd.) Apr 2012 Executive Officer, the Company Jun 2012 Representative Director, President, the Company (current) Apr 2018 Representative Director, President, Tamagawa Energy Co., Ltd. Jun 2018 Representative Director, President, THD Research Institute Co., Ltd. (current) Sep 2018 Director, THEG PTE. LTD. (current) Oct 2024 Representative Director, President, Tamagawa Energy Co., Ltd. (current)
1961-05-11
Masanori KOBAYASHI
Representative Director, Vice President
Apr 1977 Joined Fuji Keiki Co., Ltd. Dec 1981 Joined the Company Apr 1999 General Manager, Measuring Instruments Department, the Company Jun 2005 Director in charge of Materials, the Company Jun 2006 Audit & Supervisory Board Member, the Company Jun 2011 Director, Tamagawa Electronics Co., Ltd. Apr 2012 Representative Director, President, Tamagawa Electronics Co., Ltd. (current) Jun 2014 Representative Director, Vice President, the Company (current)
1956-12-10
Keita MASUYAMA
Director
Born Oct 1975 Apr 2001 Joined Angel Securities Co., Ltd. Oct 2004 Joined Phoenix Partners Co., Ltd. Dec 2005 Joined J-Bridge Co., Ltd. (currently Asia Development Capital Co., Ltd.) Jun 2014 Director, TOP Consulting Co., Ltd. (current) Jun 2015 Director, the Company (current) Jun 2015 Director, Tamagawa Electronics Co., Ltd. Nov 2015 Registered as Certified Tax Accountant Dec 2015 Partner, TOP Accounting Office Tax Corporation Jun 2018 Director, Tamagawa Energy Co., Ltd. (current) Jun 2022 Outside Director, E-Tics Data Farm Co., Ltd. (current) Jun 2022 Outside Audit & Supervisory Board Member, Sugimoto Denki Sangyo Co., Ltd. (current) Jul 2022 Representative Partner, TOP Accounting Office Tax Corporation (current)
1975-10-03
Noriko KAMBAYASHI
Director
Born Jan 1977 Dec 2013 Registered as Attorney-at-Law Dec 2013 Partner, Relation Law Corporation Apr 2015 Assistant Professor, Keio University Graduate School of Law Jun 2018 Director, the Company (current) Apr 2019 Joined Kambayashi Law Office (current)
1977-01-08
Junichi SUZUKI
Director
Born Sep 1971 Apr 1992 Joined Tamagawa Electronics Co., Ltd. Apr 2008 General Manager, Design Department, Tamagawa Electronics Co., Ltd. Jun 2013 Director, Tamagawa Electronics Co., Ltd. (current) Apr 2015 President, TAMAGAWA ELECTRONICS VIETNAM CO., LTD. (current) Jun 2020 Director, the Company (current)
1971-09-19
Shigeto KUSAKA
Director
Born Jan 1962 Apr 1989 Joined Kusaka Co., Ltd. Jul 1999 Representative Director, Kusaka Co., Ltd. (current) Jun 2009 Director, the Company Jun 2018 Retired as Director, the Company Jun 2020 Director, the Company (current)
1962-01-15
Tsukasa MIYAJI
Director
Born Dec 1966 Apr 1989 Joined Nomura Securities Co., Ltd. Aug 1995 Assigned to Beijing Office, Nomura Securities Co., Ltd. Dec 1996 Assigned to Nomura International (Hong Kong) Jun 2000 Assigned to Training Department, Nomura Securities Co., Ltd. Jun 2001 Assigned to Nomura International (Hong Kong) Jan 2005 Assigned to Nomura Singapore Apr 2012 Joined Barclays Bank Singapore May 2021 Senior Wealth Manager, Nippon Wealth Singapore (current) Jun 2023 Director, the Company (current)
1966-12-27
Chikara KIMURA
Director
Born Feb 1974 Apr 1994 Joined Tamagawa Electronics Co., Ltd. Jun 2011 General Manager, Manufacturing Department, Tamagawa Electronics Co., Ltd. Jun 2014 Director, Tamagawa Electronics Co., Ltd. (current) Jun 2024 Director, the Company (current)
1974-02-09
Hiroyuki MATSUMIYA
Director, General Manager, Corporate Planning Department
Born Sep 1966 Apr 1990 Joined The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) Nov 2020 Joined Sato Pharmaceutical Co., Ltd. Jun 2024 Joined the Company Oct 2024 General Manager, Corporate Planning Department, the Company (current) Jan 2025 Director, the Company (current) Jan 2025 Director, Tamagawa Energy Co., Ltd. (current)
1966-09-01
Takashi NAGAHAMA
Full-time Audit & Supervisory Board Member
Born Jun 1947 Apr 1974 Joined Asahi Kizai Co., Ltd. May 1984 Joined Wako Securities Co., Ltd. (currently Mizuho Securities Co., Ltd.) Sep 1998 Joined Quest Co., Ltd. Jun 2011 Part-time Audit & Supervisory Board Member, the Company Feb 2016 Full-time Audit & Supervisory Board Member, Towa House Co., Ltd. Jun 2019 Audit & Supervisory Board Member, the Company (current) Jun 2019 Audit & Supervisory Board Member, Tamagawa Electronics Co., Ltd. (current) Jun 2019 Audit & Supervisory Board Member, Tamagawa Energy Co., Ltd. (current)
1947-06-14
Ryusuke NAKATA
Audit & Supervisory Board Member
Born Aug 1983 Dec 2011 Completed training at the Legal Training and Research Institute of the Supreme Court of Japan Jan 2012 Registered as Attorney-at-Law (Second Tokyo Bar Association) Jan 2012 Joined Minato International Group Attorney Corporation (currently Minato International Law Office) Jun 2015 Audit & Supervisory Board Member, the Company (current) Jan 2017 Joined Yajinki Law Office (current)
1983-08-12
Kiyoshi FURUKAWA
Audit & Supervisory Board Member
Born Jan 1955 Apr 1978 Joined Tokyo Regional Taxation Bureau Jul 1992 Seconded to Tokyo National Tax Tribunal Jul 1995 Senior Examiner, Investigation Division I, Tokyo Regional Taxation Bureau Jul 1999 Seconded to Financial Supervisory Agency Jul 2003 International Tax Specialist, Investigation Division I, Tokyo Regional Taxation Bureau Jul 2005 Assistant Manager, Examination Division, Examination Bureau, Financial Services Agency Jul 2007 Special Examiner, General Affairs Division, Examination Bureau, Financial Services Agency Mar 2011 Retired from Financial Services Agency Jul 2011 Registered as Certified Tax Accountant; opened Kiyoshi Furukawa Tax Accountant Office Jun 2018 Audit & Supervisory Board Member, the Company (current) Feb 2025 Integrated management of Kiyoshi Furukawa Tax Accountant Office with Ren Tax Corporation Apr 2025 Representative Partner, Certified Tax Accountant, Chiba Chuo Office, Ren Tax Corporation (current)
1955-01-12
Hiroyuki TATSUOKU
Audit & Supervisory Board Member
Born Aug 1965 Jun 2007 Joined CS Consulting Co., Ltd. Jan 2010 Representative Director, CS Consulting Co., Ltd. Dec 2010 Representative Director, Chubu Trust Co., Ltd. Jun 2013 Director, Chubu Kanzai Co., Ltd. Aug 2018 Representative Director, Takaoka Commercial Development Co., Ltd. Sep 2018 Representative Director, Chubu Commercial Development Co., Ltd. Feb 2020 Representative Director, Toyota Sangyo Kanko Kaihatsu Co., Ltd. Jun 2023 Outside Audit & Supervisory Board Member, the Company Jun 2024 Audit & Supervisory Board Member, the Company (current)
1965-08-24
Large Shareholding Reports
Cantor Fitzgerald Europe
2026-04-21
5.92%→4.82%
Cantor Fitzgerald Europe
2026-04-21
7.00%→5.92%
Cantor Fitzgerald Europe
2026-04-14
8.17%→7.00%
Cantor Fitzgerald Europe
2026-04-07
9.58%→8.17%
Cantor Fitzgerald Europe
2026-04-02
10.66%→9.58%
Cantor Fitzgerald Europe
2026-03-30
11.85%→10.66%
Cantor Fitzgerald Europe
2026-03-25
12.92%→11.85%
Cantor Fitzgerald Europe
2026-03-23
15.89%→14.68%
Cantor Fitzgerald Europe
2026-03-23
14.68%→12.92%
Cantor Fitzgerald Europe
2026-03-13
16.95%→15.89%
Cantor Fitzgerald Europe
2026-03-04
18.69%→16.95%
Cantor Fitzgerald Europe
2026-03-02
19.81%→18.69%
Cantor Fitzgerald Europe
2026-01-08
19.81%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-09-14
Q3 Earnings Flash
FY ending Oct 2026
EDINET
2026-06-15
Semi-Annual Securities Report
Period: Nov 2025 – Oct 2026
EDINET
2026-04-21
Large Shareholding Report
EDINET
2026-04-21
Large Shareholding Report
EDINET
2026-04-14
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-04-02
Large Shareholding Report
EDINET
2026-03-30
Large Shareholding Report
EDINET
2026-03-25
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
TDnet
2026-03-16
Q1 Earnings Flash
FY ending Oct 2026
EDINET
2026-03-13
Large Shareholding Report
EDINET
2026-03-04
Large Shareholding Report
EDINET
2026-03-02
Large Shareholding Report
EDINET
2026-01-28
Annual Securities Report
Period: Nov 2024 – Oct 2025
EDINET
2026-01-08
Large Shareholding Report
EDINETAmended
2025-12-15
Amended Securities Registration Statement
EDINETAmended
2025-12-10
Amended Securities Registration Statement
EDINET
2025-12-04
Securities Registration Statement
TDnet
2025-09-16
Q3 Earnings Flash
FY ending Oct 2025
EDINET
2025-06-13
Semi-Annual Securities Report
Period: Nov 2024 – Oct 2025
TDnet
2025-03-14
Q1 Earnings Flash
FY ending Oct 2025
EDINET
2025-01-30
Annual Securities Report
Period: Apr 2024 – Oct 2024
TDnet
2024-08-14
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
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