Overview
Transportation Equipment

ODAWARA AUTO-MACHINE MFG.CO.,LTD.

Odawara Equipment is a comprehensive transportation equipment manufacturer specializing in fare collection systems for route buses and unmanned railway operations, offering end-to-end development, manufacturing, sales, and maintenance services. Its core products include instant-counting fare boxes, cashless payment terminals (IC card, QR code, and credit card tap-to-pay), card reader devices, and back-office settlement systems. The company leverages IT and DX solutions to integrate multimodal mobility data, addressing operational challenges for public transport operators across Japan.

Market Cap
¥4.21B
US$26.8M
EV
¥3.51B
US$22.4M
Stock¥1,320▼-1.49%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
13.1
x
LTM EV/EBIT
20.2
x
LTM PER
32.9
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-20.1%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
4.21BUS$26.8MMarket Cap1.64BUS$10.5M+ Debt2.17BUS$13.9M− Cash0.16BUS$1.04M− Inv. Sec.3.51BUS$22.4MEV
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Performance & Balance
Revenue 5Y (¥B)
3.58US$22.9M'21/124.69US$29.9M'22/123.93US$25.1M'23/126.11US$39.0M'24/127.67US$48.9M'25/12
EBITDA 5Y (¥B)
0.27US$1.70M'21/120.16US$1.02M'22/120.32US$2.02M'23/120.51US$3.28M'24/120.24US$1.56M'25/12
Net Income 5Y (¥B)
0.10US$0.63M'21/12-0.04-US$0.27M'22/120.19US$1.22M'23/120.29US$1.87M'24/120.10US$0.61M'25/12
Capital Structure
70%
30%
EquityD/E 0.42xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.29US$14.6M0.96US$6.12M'21/122.11US$13.4M0.56US$3.60M'22/122.58US$16.5M2.12US$13.5M'23/122.76US$17.6M3.72US$23.7M'24/121.66US$10.6M1.32US$8.44M'25/12
Shareholders
Top 10 hold 59.4%
1
Naoki TSUGAWA
37.58%
2
Kayoko TSUGAWA
11.26%
3
ODAWARA AUTO-MACHINE MFG.CO.,LTD. Employee Stock Ownership Association
5.19%
4
Makoto SATO
0.94%
5
Kenichi SATO
0.87%
6
Keiji IRIYAMA
0.86%
7
Masamichi SEKI
0.84%
8
Hiroyuki INOUE
0.67%
9
Michiru INADA
0.62%
10
Naomi KOSAKA
0.62%
Management
7 officers
Naoki TSUGAWA
Representative Director, President; in charge of Sales and Engineering
Sep 2007 Joined the Company Nov 2008 Group Manager, General Affairs Section Apr 2013 Group Manager, Sales Department Oct 2015 Group Manager, General Affairs Department Mar 2016 Manager, Management Planning Office, General Affairs Department Jan 2019 General Manager, General Affairs Department Mar 2020 General Manager (attached), Administration Department Mar 2022 Director; Representative Director, President, Sota System Co., Ltd. Mar 2024 Managing Director; General Manager, Sales Department Mar 2024 Director, Oval Tech Co., Ltd. (current) Mar 2024 Director, Azuma Co., Ltd. Mar 2025 (no description in source) Jul 2025 (no description in source) Oct 2025 (no description in source) Mar 2026 Director, Sota System Co., Ltd. (current); Representative Director, President, in charge of Sales and Engineering Mar 2026 Representative Director, President, Azuma Co., Ltd. (current) Representative Director, President, in charge of Sales, Engineering, New Business Promotion and Railway Business Division Representative Director, President, in charge of Sales and Engineering (current)
1984-03-10
Kenichi SATO
Senior Managing Director; General Manager, Administration Department; in charge of Quality Assurance and Manufacturing
Jul 1984 Joined the Company Apr 1996 Group Manager, Manufacturing Department Apr 2003 Group Manager, General Affairs Department Mar 2009 Director, Oval Tech Co., Ltd.; General Manager, Manufacturing Department Mar 2019 Executive Officer; Representative Director, President, Oval Tech Co., Ltd. Mar 2020 Director, General Manager, Administration Department, in charge of Manufacturing; Director, Oval Tech Co., Ltd.; Statutory Auditor, Sota System Co., Ltd. May 2020 Director, Azuma Co., Ltd. (current) Mar 2021 Managing Director, General Manager, Administration Department, in charge of Manufacturing Mar 2022 Managing Director, General Manager, Administration Department, in charge of Manufacturing and Quality Assurance; Director, Sota System Co., Ltd. Jan 2024 Managing Director; General Manager, Administration Department and Quality Assurance Department; in charge of Manufacturing Mar 2024 (no description in source) Jun 2025 (no description in source) Mar 2026 Senior Managing Director; General Manager, Administration Department and Quality Assurance Department; in charge of Manufacturing Representative Director, President, Oval Tech Co., Ltd. Senior Managing Director, General Manager, Administration Department; in charge of Quality Assurance and Manufacturing (current) Director, Oval Tech Co., Ltd. (current) Representative Director, Chairman, Sota System Co., Ltd. (current)
1964-11-03
Kazuhiko YOKOCHI
Director; General Manager, Group Management Planning Department
Apr 1983 Joined OMRON Corporation Sep 2004 General Manager, Overseas Promotion Department, OMRON Corporation Mar 2008 General Manager, Transportation Solutions Business Division, OMRON Corporation Apr 2011 Transferred to OMRON Socialsolutions Co., Ltd. Mar 2014 General Manager, Business Planning Department, OMRON Socialsolutions Co., Ltd. Mar 2015 Director, OMRON Socialsolutions Co., Ltd. Mar 2017 Seconded to OMRON Software Co., Ltd.; Executive Officer, Planning Office Manager Mar 2019 Executive Officer, General Manager, ICT Solutions Business Division, OMRON Software Co., Ltd. Apr 2020 Joined the Company; Manager, Management Planning Office, Administration Department Mar 2021 Director, Sota System Co., Ltd. Jun 2021 Executive Officer, General Manager, Group Management Planning Office, Administration Department Mar 2025 Director, General Manager, Group Management Planning Department (current) Director, Oval Tech Co., Ltd. (current) Director, Sota System Co., Ltd. (current) Director, Azuma Co., Ltd. (current)
1960-05-26
Kenji TAKETANI
Director; General Manager, New Business Promotion Department; in charge of Railway Business Division
Jul 1995 Joined East Japan Railway Company Apr 2008 Seconded to Ministry of Land, Infrastructure, Transport and Tourism, Policy Bureau, Tourism Resources Division; Assistant Section Chief Aug 2010 Section Manager, Planning Section, IT & Suica Business Headquarters, East Japan Railway Company Jun 2014 Seconded to VIEW Card Co., Ltd.; General Manager, Planning Department Jun 2017 Station Master, Fujisawa Station, VIEW Card Co., Ltd. Sep 2019 Joined Nagasaki Bus Co., Ltd.; General Manager (attached), Management Planning Department Oct 2020 Joined Osaka Metro Co., Ltd.; Manager, MaaS Strategy Promotion Section Apr 2023 General Manager, Strategy Planning Department, Corporate Management Strategy Headquarters, Osaka Metro Co., Ltd. Dec 2023 General Manager, Social Service Collaboration Promotion Department, Transportation Business Headquarters, Osaka Metro Co., Ltd. May 2024 Joined the Company; Executive Officer, Sales Department Oct 2025 (no description in source) Mar 2026 Executive Officer, General Manager, New Business Promotion Department Director, General Manager, New Business Promotion Department, in charge of Railway Business Division (current) Director, Oval Tech Co., Ltd. (current) Director, Sota System Co., Ltd. (current) Director, Azuma Co., Ltd. (current)
1972-08-22
Yoshihiro KANEKO
Director, Audit and Supervisory Committee Member
Apr 1984 Joined The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) Nov 2004 Manager, Akasaka Branch, The Mitsubishi Bank, Ltd. Sep 2007 Manager, Totsuka Branch, The Mitsubishi Bank, Ltd. Jun 2009 Manager, Senba Branch and Senba Chuo Branch, The Mitsubishi Bank, Ltd. Jan 2011 Manager, Ebisu Branch and Higashi-Ebisu Branch, The Mitsubishi Bank, Ltd. Feb 2013 Seconded to Maruyama Construction Co., Ltd. Oct 2013 Transferred to Maruyama Construction Co., Ltd. Sep 2014 Manager, General Affairs Department, the Company Sep 2015 General Manager, Engineering Department Jan 2019 General Manager, Sales Department Mar 2019 Executive Officer, General Manager, Sales Department Mar 2022 Director, Oval Tech Co., Ltd. Mar 2024 Director, Audit and Supervisory Committee Member (current) Statutory Auditor, Oval Tech Co., Ltd. (current) Statutory Auditor, Sota System Co., Ltd. (current) Statutory Auditor, Azuma Co., Ltd. (current)
1961-03-06
Terumi KUMAGAI
Director, Audit and Supervisory Committee Member
Oct 1992 Joined Chuo Shinko Audit Corporation Apr 1996 Registered as Certified Public Accountant Feb 2004 Registered as Certified Tax Accountant; opened Kumagai Certified Public Accountant and Tax Accountant Office Mar 2008 Statutory Auditor, the Company; Statutory Auditor, Oval Tech Co., Ltd. Mar 2009 Partner, Sou Audit Corporation Jun 2015 Outside Director, Hotta Marusho Co., Ltd. Oct 2016 Representative Audit Committee Member, Town of Yugawara (current) Oct 2019 Representative Partner, Sou Audit Corporation; Office Manager, Odawara Office, FULL SUPPORT Tax Corporation Mar 2022 Director, Audit and Supervisory Committee Member, the Company (current)
1963-01-22
Yasunori ITO
Director, Audit and Supervisory Committee Member
Apr 2005 Joined Legal Training and Research Institute of the Supreme Court of Japan Oct 2006 Registered as attorney; joined Bandō Sogo Law Office Oct 2014 (no description in source) Mar 2026 Opened Yokohama Minatomirai Law Office; Representative (current) Director, Audit and Supervisory Committee Member, the Company (current)
1975-08-16
Large Shareholding Reports
Seiei Co., Ltd.
2026-08-26
11.31%→22.22%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-26
Large Shareholding Report
EDINET
2026-08-07
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-07
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-13
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-24
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-13
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-13
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINETAmended
2024-06-14
Amended Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-05-13
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-27
Annual Securities Report
Period: Jan 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
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-23
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-24
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-03-24
Annual Securities Report
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