Overview
Transportation Equipment

NIPPON SHARYO,LTD.

Nippon Sharyo is a diversified heavy industrial manufacturer with over 120 years of history, principally engaged in the design and manufacture of railway vehicles including Shinkansen (bullet trains), commuter trains, and overseas rolling stock, where it holds the No.1 production record for N700S Shinkansen cars. The company also produces construction machinery (notably large pile drivers with No.1 delivery track record), transport equipment (tank lorries, large self-propelled carriers, AGVs), infrastructure products (road and railway bridges), and engineering systems (railway maintenance equipment, agricultural processing facilities, and paper-related machinery). A consolidated subsidiary of East Japan Railway's peer company JR Central (Tokai Passenger Railway Co., Ltd.), Nippon Sharyo operates across Japan and maintains a service presence in the United States through its subsidiary NIPPON SHARYO MANUFACTURING, LLC.

Market Cap
¥52.7B
US$336M
EV
¥65.2B
US$416M
Stock¥3,650▼-0.82%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.2
x
LTM EV/EBIT
5.0
x
LTM PER
4.1
x
LTM PBR
0.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-3.7%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jul 29, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
52.7BUS$336MMarket Cap33.0BUS$211M+ Debt3.18BUS$20.3M− Cash17.3BUS$111M− Inv. Sec.65.2BUS$416MEV
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Performance & Balance
Revenue 5Y (¥B)
94.0US$600M'22/398.0US$625M'23/388.1US$562M'24/396.3US$614M'25/3100.0US$638M'26/3
EBITDA 5Y (¥B)
8.93US$57.0M'22/37.17US$45.7M'23/38.49US$54.1M'24/39.44US$60.2M'25/314.2US$90.7M'26/3
Net Income 5Y (¥B)
5.23US$33.3M'22/33.12US$19.9M'23/35.38US$34.3M'24/36.42US$40.9M'25/311.7US$74.4M'26/3
Capital Structure
72%
28%
EquityD/E 0.39xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
20.2US$129M53.4US$341M'22/320.7US$132M42.7US$272M'23/325.8US$165M38.9US$248M'24/321.0US$134M36.5US$233M'25/322.3US$142M33.2US$212M'26/3
Shareholders
Top 10 hold 67.5%
1
Central Japan Railway Company
50.95%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.94%
3
Custody Bank of Japan, Ltd. (Trust Account)
2.90%
4
NIPPON SHARYO,LTD. Employee Stock Ownership Association
1.95%
5
UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.08%
6
Shunzo MURAMATSU
1.01%
7
MUFG Bank, Ltd.
0.98%
8
RE FUND 107-CLIENT AC (Standing Proxy: Citibank, N.A., Tokyo Branch)
0.91%
9
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
0.90%
10
GOLDMAN SACHS BANK EUROPE SE (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
0.87%
Management
11 officers
Mamoru TANAKA
Representative Director, President
Apr 1982 Joined Japan National Railways Jun 2010 General Manager, Rolling Stock Department, Shinkansen Railway Business Division, Central Japan Railway Company Jun 2014 Executive Officer, Kansai Branch Manager, Central Japan Railway Company Jun 2016 Executive Officer, Deputy General Manager, General Engineering Headquarters and General Manager, Technology Planning Department, Central Japan Railway Company; Corporate Auditor of the Company Jun 2018 Director, Managing Executive Officer, General Manager, Shinkansen Railway Business Division, Central Japan Railway Company Jun 2020 Representative Director, Executive Vice President, in charge of Railway Business Division and Safety Management, Central Japan Railway Company Jun 2023 Representative Director, President of the Company (current)
1958-08-05
Michikazu FUKAYA
Senior Managing Director, General Manager of General Planning Division, in charge of Compliance
Apr 1982 Joined Nikkuma Kohki Co., Ltd. Jan 1999 Joined the Company Jun 2010 General Manager, Administration Department, Electromechanical Division Dec 2012 Plant Manager, Narumi Works, Electromechanical Division Jul 2017 Deputy General Manager, Human Resources Department Jun 2018 Executive Officer, General Manager, General Affairs Department Jun 2020 Executive Officer, General Manager, Electromechanical Division Jun 2022 Director, General Manager, Electromechanical Division Apr 2024 Director, General Manager, Construction Machinery Division Jun 2024 Managing Director, General Manager, Construction Machinery Division Jun 2025 Representative Director, Senior Managing Director, General Manager, Planning Division Jul 2025 Representative Director, Senior Managing Director, General Manager, General Planning Division Jun 2026 Senior Managing Director, General Manager, General Planning Division (current)
1959-12-22
Yuichi AHIKO
Managing Director, General Manager of Railway Vehicle Division
Apr 1992 Joined Central Japan Railway Company Jul 2021 Deputy General Manager, Safety Measures Department, Central Japan Railway Company Jun 2024 Executive Officer, General Manager of Railway Vehicle Division, the Company Jun 2025 Managing Director, General Manager of Railway Vehicle Division, the Company (current) Jun 2026 Concurrently General Manager, Administration Division, the Company (current)
1969-05-18
Tsunekimi TOMITA
Managing Director, General Manager of Construction Machinery Division
Apr 1989 Joined the Company Oct 2015 General Manager, Development Engineering Department, Electromechanical Division Jul 2017 General Manager, Administration Department, Electromechanical Division; Plant Manager, Narumi Works, same division Jul 2020 Deputy General Manager, Electromechanical Division; General Manager, Administration Department and Plant Manager, Narumi Works, same division Jun 2022 Executive Officer, Deputy General Manager, Electromechanical Division; General Manager, Administration Department and Plant Manager, Narumi Works, same division Apr 2024 Executive Officer, Deputy General Manager, Construction Machinery Division; General Manager, Administration Department, same division Jun 2024 Executive Officer, Deputy General Manager, Construction Machinery Division Jun 2025 Managing Director, General Manager, Construction Machinery Division (current)
1965-08-11
Atsushi NIIMI
Director
Apr 1971 Joined Toyota Motor Corporation (formerly Toyota Motor Corporation) Jun 2000 Director, Plant Manager, Motomachi Plant and Tsutsumi Plant, Toyota Motor Corporation Jun 2004 Director, Toyota Motor Corporation Jun 2005 Senior Managing Director, General Manager, Production Control and Logistics Division and Manufacturing Division, Toyota Motor Corporation Jun 2006 Senior Managing Director, General Manager, Production Planning Division, Toyota Motor Corporation Jun 2007 Senior Managing Director, General Manager, Procurement Division, Toyota Motor Corporation Jun 2009 Representative Director, Executive Vice President, Toyota Motor Corporation; Corporate Auditor, JTEKT Corporation Jun 2013 Representative Director, Chairman, Toyota Motor Corporation Jun 2014 Non-Executive Director, Nagoya Stock Exchange, Inc. (current) Mar 2015 Director, Yamaha Motor Co., Ltd. Jun 2016 Director of the Company (current)
1947-07-30
Noriko KATO
Director
Apr 1980 Registered as attorney-at-law, Nagoya Bar Association (currently Aichi Bar Association); joined Hata Law Office Apr 1998 Vice President, Nagoya Bar Association Apr 2001 Established Kato Sogo Law Office (currently Kato & Ueda Sogo Law Office) Apr 2005 Chairperson, Training Committee, Aichi Bar Association Apr 2007 Professor, Graduate School of Law, Nagoya University Jun 2015 Corporate Auditor of the Company Jun 2024 Director of the Company (current)
1953-08-20
Yasushi FUKUIZUMI
Director
Apr 1982 Joined Mitsubishi Heavy Industries, Ltd. Apr 2011 Senior Executive Vice President, Mitsubishi Power Systems Americas, Inc. (currently Mitsubishi Power Americas, Inc.) Apr 2015 Deputy General Manager, Power Domain Planning and Management Division, Mitsubishi Heavy Industries, Ltd. Apr 2017 Executive Officer, Deputy Domain Head, Power Domain, Mitsubishi Heavy Industries, Ltd. Apr 2019 Managing Executive Officer, Deputy Domain Head, Power Domain, Mitsubishi Heavy Industries, Ltd. Apr 2020 Managing Executive Officer, Deputy Domain Head, Energy Domain, Mitsubishi Heavy Industries, Ltd. Apr 2023 Executive Advisor, Energy Domain, Mitsubishi Heavy Industries, Ltd. Jun 2024 Corporate Auditor of the Company Jun 2026 Director of the Company (current)
1958-07-16
Motoyuki UEDA
Full-time Corporate Auditor
Apr 1995 Joined Tokai Bank, Ltd. (currently MUFG Bank, Ltd.) Apr 2021 General Manager, Nagoya Sales Division No. 1, Nagoya Sales Headquarters, MUFG Bank, Ltd. Jun 2021 Executive Officer, General Manager, Nagoya Sales Division No. 1, Nagoya Sales Headquarters, MUFG Bank, Ltd. Apr 2022 Executive Officer, General Manager, Nagoya Sales Division No. 1, Sales Headquarters, MUFG Bank, Ltd. Apr 2023 Executive Officer, Headquarters Administrative Officer, MUFG Bank, Ltd. Jun 2023 Full-time Corporate Auditor of the Company (current)
1972-12-08
Toshiro HIRAIWA
Full-time Corporate Auditor
Apr 1987 Joined the Company Dec 2007 General Manager, Sales Department, Transportation Equipment Division Oct 2015 General Manager, Planning Department, Transportation Equipment and Infrastructure Division Jun 2018 General Manager, Sales Management Department, Railway Vehicle Division Jun 2021 Executive Officer, Deputy General Manager, Railway Vehicle Division; General Manager, Sales Management Department, same division Jul 2024 Executive Officer, Deputy General Manager, Railway Vehicle Division; General Manager, Sales Management Headquarters, same division; General Manager, Central and Western Japan Sales Department, Sales Management Headquarters Jun 2025 Full-time Corporate Auditor of the Company (current)
1963-10-18
Shunichi USUI
Corporate Auditor
Apr 1989 Joined Central Japan Railway Company Jun 2014 General Manager, Rolling Stock Department, Shinkansen Railway Business Division, Central Japan Railway Company Feb 2015 Deputy General Manager, Management Planning Office, the Company Jun 2015 Executive Officer, Deputy General Manager, Management Planning Office, the Company Jun 2017 Executive Officer, General Manager, Management Planning Office, the Company Jun 2018 Managing Director, General Manager of Railway Vehicle Division, the Company Jun 2020 Executive Officer, Deputy General Manager, Shinkansen Railway Business Division and General Manager, Rolling Stock Department, Central Japan Railway Company Jun 2022 Executive Officer, Kansai Branch Manager, in charge of Rolling Stock Division, Central Japan Railway Company; Corporate Auditor of the Company (current) Jun 2023 Managing Executive Officer, Central Japan Railway Company (current) Jun 2024 General Manager, Engineering Headquarters and in charge of Rolling Stock Division, Central Japan Railway Company (current)
1963-12-13
Taiji MIZUNO
Corporate Auditor
Apr 1999 Registered as attorney-at-law, Nagoya Bar Association (currently Aichi Bar Association); joined Saito Law Office (currently Honmachi City Law Office) Jul 2004 Partner Attorney, Honmachi City Law Office (current) Apr 2018 Director, Japan Federation of Bar Associations; Vice President, Aichi Bar Association Jun 2025 Outside Director, Audit and Supervisory Committee Member, Hoyo Corporation (current) Jun 2026 Corporate Auditor of the Company (current)
1962-07-22
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-28
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-07
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-28
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-08
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-29
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-06
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-08
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-06
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-07
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-04
Quarterly Securities Report
EDINET
2021-11-04
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-05
Quarterly Securities Report
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