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Overview

Services

New Constructor's Network Co.,Ltd.

NCN Co., Ltd. develops and licenses 'SE Construction Method' (SE構法), a proprietary seismic-resistant timber construction system that applies allowable stress calculation—typically used for steel and reinforced concrete structures—to wooden buildings, enabling high seismic performance and large open-plan spaces. The company supplies structural engineering calculations, engineered lumber (glulam) components processed at designated factories, and proprietary metal connectors to a nationwide network of 621 registered contractors, as well as to house manufacturers including MUJI HOUSE via OEM arrangements. In addition to residential housing, NCN is expanding into large-scale non-residential timber construction (500 m² and above), leveraging over 30,000 cumulative structural calculation projects, and provides complementary services including energy efficiency calculations, structural defect warranties, and BIM solutions.

Market Cap

¥2.65B

US$16.9M

¥-0.15B

-US$0.95M

Stock¥888▼-0.56%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

LTM EV/EBIT

LTM PER

15.9

LTM PBR

1.3

2026-08-25 closing price basis: ranked #120 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-3B).

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-33.1%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

96%

EquityD/E 0.05xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 70.2%

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

Tasugi Soko Co., Ltd.

22.13%

Ikuo TAGUSARI

19.51%

Tsuneo SUGIYAMA

7.27%

Yoshihisa FUJII

6.95%

MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

5.26%

Daisuke SEIBAN

3.08%

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCHPRIVATE BANKING DIVISION A/C CLIENTS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

1.68%

Tsuyoshi NAKAMURA

1.67%

Toru MOTEGI

1.39%

Hiromichi ITO

1.23%

Management

9 officers

Ikuo TAGUSARI

Representative Director, President and Executive Officer

Apr 1989 Joined Nissho Iwai Corporation (now Sojitz Corporation) Dec 1996 Seconded to the Company upon its establishment Feb 1999 Director of the Company Jun 2000 Representative Managing Director of the Company Jun 2001 Director of Kanamoku Co., Ltd. Jan 2004 Director of Nihon Usonian 21 Co., Ltd. (now Japan Organic Architecture Co., Ltd.) Feb 2004 Director of Muji Net Co., Ltd. (now MUJI HOUSE Co., Ltd.) Jun 2006 Representative Director, President and Executive Officer of the Company (current) Aug 2007 Corporate Auditor of Forest Home Co., Ltd. Apr 2009 Senior Managing Director of Muji Net Co., Ltd. (now MUJI HOUSE Co., Ltd.) (current) Mar 2012 Director of SE Housing Loan Service Co., Ltd. Jun 2013 Director of N.D.N. Co., Ltd. May 2016 Director of General Incorporated Association Ki no Ie Ichiban Promotion Association (now Ki no Ie Ichiban Association) (part-time) (current) Jun 2016 Director of Japan CLT Association (General Incorporated Association) (part-time) (current) Aug 2016 Director of Ichinomiya Realize Co., Ltd. (current) Sep 2017 Representative Director of General Incorporated Association 100% Earthquake-Resistant Housing Executive Committee (part-time) (current)

1965-10-09

Yoshihisa FUJII

Director, Senior Managing Executive Officer

Apr 1992 Joined Fujiki Kaiun Co., Ltd. Jan 1995 Joined Kozo Construction Co., Ltd. Aug 1996 Joined Nissho Iwai Corporation (now Sojitz Corporation), Nagoya Branch Mar 1999 Joined the Company Oct 2001 Director of the Company Jun 2006 Managing Director of the Company Jun 2009 Senior Managing Director of the Company Jun 2013 Director of SE Housing Loan Service Co., Ltd. Jun 2013 Managing Director of the Company Jun 2017 Senior Managing Director, Senior Managing Executive Officer and General Manager of Earthquake-Resistant Construction Division of the Company Jan 2023 Director of N&S Development Co., Ltd. (current) Jun 2024 Director and Senior Managing Executive Officer of the Company (current)

1967-02-18

Hiroshi FUKUDA

Director, Managing Executive Officer and General Manager of Special Construction Business Division

Apr 1999 Joined Kumagai Gumi Co., Ltd. Jun 2002 Joined the Company Apr 2013 Executive Officer and General Manager of Sales & Design Division of the Company Apr 2017 Executive Officer and General Manager of Special Construction Business Division of the Company Feb 2020 Representative Director, President of Kiko Structure Design Co., Ltd. (current) Jun 2020 Director and Executive Officer, General Manager of Special Construction Business Division of the Company Oct 2022 Director of Suiho Co., Ltd. (current) Jun 2024 Director and Managing Executive Officer, General Manager of Special Construction Business Division of the Company (current)

1974-05-23

Kohei FUJI

Director, Executive Officer and General Manager of Administration Division

Apr 2005 Joined Softbank Broadmedia Corporation (now SoftBank Group Corp.) Oct 2005 Transferred to Clavit Corporation (now Broadmedia Corporation) Mar 2009 Joined United Ventures Co., Ltd. May 2020 Joined the Company May 2020 Corporate Auditor of MUJI HOUSE Co., Ltd. (current) Jun 2020 Director of MAKE HOUSE Co., Ltd. (now KINO BIM Co., Ltd.) (current) Jun 2020 Director and Executive Officer, General Manager of Administration Division of the Company Aug 2022 Corporate Auditor of IDEE Universal Co., Ltd. (current) Oct 2022 Corporate Auditor of Suiho Co., Ltd. Jun 2023 Corporate Auditor of Kiko Structure Design Co., Ltd. (current) Jun 2024 Director and Executive Officer, General Manager of Administration Division of the Company (current) Jun 2026 Director of Suiho Co., Ltd. (current)

1980-08-16

Tadami MATSUI

Director

Jun 1973 Joined Seiyu Store Co., Ltd. (now Seiyu GK) May 1993 Director of Ryohin Keikaku Co., Ltd. May 1997 Managing Director of Ryohin Keikaku Co., Ltd. Mar 1999 Senior Managing Director of Ryohin Keikaku Co., Ltd. Jan 2001 President and Representative Director of Ryohin Keikaku Co., Ltd. Feb 2002 President, Representative Director and Executive Officer of Ryohin Keikaku Co., Ltd. Jun 2004 President, Representative Director and Executive Officer, in charge of Information Systems, of Ryohin Keikaku Co., Ltd. Feb 2006 President, Representative Director and Executive Officer of Ryohin Keikaku Co., Ltd. Feb 2008 Chairman, Representative Director and Executive Officer of Ryohin Keikaku Co., Ltd. May 2009 Representative Director, President of Muji Net Co., Ltd. (now MUJI HOUSE Co., Ltd.) Oct 2010 Representative Director, President of T&T Inc. (now Matsui Office Co., Ltd.) (current) Jun 2013 Outside Director of Resona Bank, Limited Sep 2013 Outside Director of Adastria Holdings Co., Ltd. (now &ST HD Co., Ltd.) Jun 2014 Outside Director of Resona Holdings, Inc. Jun 2014 Outside Director of Otoya Holdings Co., Ltd. May 2015 Outside Director of Next Stage Co., Ltd. (current) Jun 2016 Outside Director of the Company (current) Nov 2016 Outside Director of Sadamatsu Co., Ltd. (now Festareria Holdings Co., Ltd.) (current)

1949-05-13

Hirofumi UCHIYAMA

Director

Apr 1991 Joined Recruit Cosmos Co., Ltd. Apr 1996 Joined Toshi Design System Co., Ltd. Jul 2001 Director of Toshi Design System Co., Ltd. Jul 2003 Executive Officer of Toshi Design System Co., Ltd. May 2005 Representative Director of Livein Co., Ltd. Apr 2009 Managing Director, General Manager of Business Division of Livein Co., Ltd. May 2009 Vice Chairman of the Renovation Housing Promotion Council (now Renovation Council) (General Incorporated Association) Jun 2013 Chairman of the Renovation Council (current) Aug 2016 Established u.company Co., Ltd., Representative Director (current) Aug 2016 Established Japan Asset Management Co., Ltd., Representative Director (current) Jun 2019 Outside Director of the Company (current) Apr 2021 Representative Director of Tsukuba Machinaka Design Co., Ltd. (current)

1968-11-29

Kenjiro ISHIHARA

Full-time Corporate Auditor

Apr 1977 Joined Toshiba Corporation Aug 1992 Vice President of Toshiba America, Inc. Jan 1998 Senior Staff Member, International Division of Toshiba Corporation Jan 1999 Group Manager, International Division of Toshiba Corporation Apr 2003 Senior Staff Member, Corporate Communications Division of Toshiba Corporation Dec 2003 General Manager, Corporate Communications Division of Renesas Electronics Corporation Dec 2004 Deputy General Manager, Audit & Supervisory Board Office of Renesas Electronics Corporation Nov 2012 Head of Internal Audit Office of TriNet Co., Ltd. Jul 2017 Head of Internal Audit Office of Kitasato Corporation Jan 2018 Full-time Corporate Auditor of the Company (current) Jun 2018 Corporate Auditor of MAKE HOUSE Co., Ltd. (now KINO BIM Co., Ltd.) (current)

1955-02-08

Akihira MINEO

Corporate Auditor

Oct 2002 Joined Chuo Aoyama PricewaterhouseCoopers May 2006 Registered as Certified Public Accountant Jul 2007 Joined Tsuji Hongo Tax Corporation Aug 2010 Opened Mineo Tax & Accounting Office Dec 2010 Registered as Certified Tax Accountant Dec 2013 Outside Corporate Auditor of E-Guardian Inc. Dec 2015 Outside Director (Audit and Supervisory Committee Member) of E-Guardian Inc. (current) May 2017 Outside Corporate Auditor of Baby Calendar Co., Ltd. (current) Jan 2018 Corporate Auditor of the Company (current) Jan 2023 Representative Partner of AMA Partners Tax Corporation (current)

1977-02-14

Takao AKINO

Corporate Auditor

Apr 1998 Registered as Attorney at Law Apr 2001 Established Akino Law Office Apr 2003 Established Takumi Law Office Jan 2006 Established Takumi Law Office, Attorney Corporation Jun 2016 Corporate Auditor of the Company (current) Aug 2016 Corporate Auditor of Ichinomiya Realize Co., Ltd. (current) Mar 2020 Outside Director (Audit and Supervisory Committee Member) of Epco Co., Ltd. (current)

1973-08-14

Large Shareholding Reports

Tasugi Soko Co., Ltd.

2026-06-12

33.42%→33.42%