Overview
Wholesale Trade

MATSUDA SANGYO Co.,Ltd.

Matsuda Sangyo operates across two core segments: precious metals and food. The precious metals segment encompasses recovery and smelting of precious metals, trading of bullion and electronic materials (including bonding wire), and industrial waste collection, transportation, and processing. The food segment handles sales of food processing raw materials and logistics services, serving customers across Asia through an extensive network of domestic and overseas subsidiaries.

Market Cap
¥155B
US$989M
EV
¥176B
US$1.12B
Stock¥6,000▼-0.50%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.4
x
LTM EV/EBIT
6.0
x
LTM PER
7.3
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+18.9%pt
10012345
Oct 24, 25 – Oct 23, 26StockTOPIX
1Dec 12, 25Strong Q3 earnings results
2Feb 9, 26Q3 earnings announcement
3Feb 12, 26Continued buying on strong earnings
4Feb 27, 26Dividend increase announcement
5Aug 10, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
155BUS$989MMarket Cap45.7BUS$291M+ Debt14.0BUS$89.4M− Cash11.2BUS$71.4M− Inv. Sec.0.70BUS$4.49M+ NCI176BUS$1.12BEV
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Performance & Balance
Revenue 5Y (¥B)
272US$1.74B'22/3351US$2.24B'23/3361US$2.30B'24/3469US$2.99B'25/3688US$4.39B'26/3
EBITDA 5Y (¥B)
14.9US$95.1M'22/316.1US$103M'23/311.8US$75.5M'24/315.6US$99.3M'25/326.2US$167M'26/3
Net Income 5Y (¥B)
9.56US$61.0M'22/39.70US$61.8M'23/37.29US$46.5M'24/39.46US$60.3M'25/316.8US$107M'26/3
Capital Structure
73%
27%
EquityD/E 0.36xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
16.9US$108M16.4US$105M'22/317.6US$112M19.2US$123M'23/321.6US$137M29.4US$188M'24/320.8US$132M33.5US$213M'25/324.4US$155M52.5US$335M'26/3
Shareholders
Top 10 hold 52.0%
1
Matsuda Bussan Co., Ltd.
13.39%
2
Yoshiaki MATSUDA
11.34%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
8.14%
4
Meiji Yasuda Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
3.59%
5
Custody Bank of Japan, Ltd. (Trust Account)
3.18%
6
Kazuko MATSUDA
2.99%
7
Junko TSUSHIMA
2.99%
8
Sumitomo Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
2.57%
9
Kuniko MATSUDA
1.95%
10
Hiroaki MATSUDA
1.87%
Management
11 officers
Yoshiaki MATSUDA
Representative Director, President, Executive Officer, Chairman of the Nomination and Compensation Committee, Chairman of the Sustainability Committee
Apr 1984 Joined Oki Electric Industry Co., Ltd. Apr 1988 Joined Nippon Suisan Kaisha, Ltd. Oct 1988 Director of the Company Jan 1991 Managing Director Jul 1992 In charge of Sales, Production and Management Planning Jun 1995 Senior Managing Director Jan 1996 In charge of Sales and Management Planning Apr 1999 Executive Vice President Jan 2000 Representative Director May 2003 Representative Director, President (current) Jun 2016 President, Executive Officer (current) May 2022 Chairman, Sustainability Committee (current) Jun 2023 Chairman, Nomination and Compensation Committee (current)
1961-10-09
Koji TSUSHIMA
Director, Executive Vice President, Executive Officer, Assistant to the President, General Manager of Corporate Division, General Manager of Management Planning Office, in charge of Human Resources and General Affairs Departments
Apr 1992 Joined Toshiba Corporation May 1992 Semiconductor Business Unit, Toshiba Corporation Aug 2001 Joined the Company Aug 2001 General Manager, Management Planning Office Jun 2002 Director May 2003 Managing Director Jun 2004 Senior Managing Director, Assistant to the President, in charge of Management Planning Division Feb 2008 Assistant to the President, in charge of Management Planning Division, General Manager of Management Planning Office Jul 2009 Executive Vice President (current) Apr 2015 Assistant to the President, General Manager of Management Planning Office Jun 2016 Executive Vice President, Executive Officer (current) Jun 2016 Assistant to the President, Executive Officer, General Manager of Management Planning Office Jun 2023 Assistant to the President, Executive Officer, General Manager of Corporate Division, General Manager of Management Planning Office (current) Jan 2025 In charge of Human Resources, General Affairs and Legal Departments Mar 2025 In charge of Human Resources and General Affairs Departments (current)
1968-06-09
Ryuichi YAMAZAKI
Director, Managing Executive Officer, General Manager of Metals and Environment Sales Division
Apr 1981 Joined the Company Apr 2004 General Manager, Environment Sales Department, Environment Business Division Apr 2006 Deputy General Manager, Environment Business Division, General Manager, Environmental Solutions Sales Department Jan 2007 General Manager, Environment Business Division, General Manager, Environmental Solutions Sales Department Jun 2007 Director of the Company (current) Oct 2013 General Manager, Environmental Recycling Sales Department, Environment Business Division Apr 2015 General Manager, Metals and Environment Sales Division, General Manager, Domestic Sales Department, General Manager, Sales Planning and Promotion Department, in charge of Urban Recycling Sales Department Jan 2016 General Manager, Metals and Environment Sales Division, in charge of Urban Recycling Sales Department Jun 2016 Executive Officer Apr 2019 General Manager, Metals and Environment Sales Division, General Manager, Sales Planning and Promotion Department, in charge of Metals and Environment Overseas Division Jun 2019 Senior Executive Officer, General Manager, Metals and Environment Sales Division, General Manager, Sales Planning and Promotion Department Apr 2020 General Manager, Metals and Environment Sales Division Apr 2021 General Manager, Metals and Environment Sales Division, General Manager, Sales Department No. 1 and No. 3 Apr 2022 General Manager, Metals and Environment Sales Division, General Manager, Sales Department No. 1 Apr 2023 General Manager, Metals and Environment Sales Division (current) Jun 2023 Managing Executive Officer (current)
1958-08-24
Kenji ISHIKO
Director, Senior Executive Officer, General Manager of Food Business Division, General Manager of Sales Administration Department
Apr 1988 Joined the Company Apr 2012 General Manager, Human Resources and Education Department Apr 2014 General Manager, Food Business Division, General Manager, Marine Products Department Jun 2014 General Manager, Food Business Division, General Manager, Marine Products Department, General Manager, Livestock Department Jun 2014 Director of the Company (current) Feb 2016 General Manager, Food Business Division, General Manager, Livestock Department, General Manager, Agricultural Products Department Jun 2016 Executive Officer Apr 2018 General Manager, Food Business Division, General Manager, Marine Products Department, General Manager, Livestock Department, General Manager, Overseas Promotion Department Apr 2019 General Manager, Food Business Division, General Manager, Marine Products Department No. 2 Jun 2019 General Manager, Food Business Division, General Manager, Marine Products Department No. 2, General Manager, Sales Planning and Promotion Department Apr 2020 General Manager, Food Business Division Nov 2022 General Manager, Food Business Division, General Manager, Sales Planning and Promotion Department Jun 2023 Senior Executive Officer (current) Apr 2025 General Manager, Food Business Division, General Manager, Sales Administration Department (current)
1963-10-12
Yudai UEDA
Director, Executive Officer, Chairman of TRM Committee, General Manager of Administration Department, General Manager of Bullion Market Department, in charge of Information Systems and Finance Departments
Mar 1996 Joined the Company Apr 2017 General Manager, Management Planning Office Apr 2020 General Manager, Administration Department, General Manager, Finance Department Jun 2020 Director of the Company (current), Executive Officer (current), in charge of Bullion Market Department Apr 2022 In charge of Information Systems Department Apr 2023 General Manager, Accounting Department Apr 2024 General Manager, Administration Department, General Manager, Finance Department, in charge of Information Systems and Bullion Market Departments Jan 2025 Chairman, TRM Committee (current) Apr 2026 General Manager, Administration Department, General Manager, Bullion Market Department, in charge of Information Systems and Finance Departments (current)
1972-07-27
Hideto IMAI
Director, Executive Officer, General Manager of Production Division, in charge of Quality Assurance Office
Jan 1998 Joined the Company Apr 2018 General Manager, Production Department and Business Promotion Department, Precious Metals Recycling Business Division Apr 2019 General Manager, Recycling Production Department, Precious Metals Recycling Business Division Apr 2023 General Manager, Production Division Jun 2023 Executive Officer (current) Jun 2023 General Manager, Production Division, General Manager, Production Control Department, in charge of Quality Assurance Office Apr 2024 General Manager, Production Division, in charge of Quality Assurance Office (current) Jun 2024 Director of the Company (current)
1972-01-19
Yoshinori TANAKA
Director, Executive Officer, General Manager of CSR and IR Department and Legal Department, in charge of Accounting Department
Jan 2010 Joined the Company Apr 2014 General Manager, Administration Department Apr 2020 General Manager, Management Planning Office and General Manager, IR Department Jun 2020 Executive Officer (current) Apr 2022 General Manager, Management Planning Office and General Manager, CSR and IR Department Apr 2023 General Manager, CSR and IR Department and General Manager, Management Planning Office Apr 2024 General Manager, Accounting Department and General Manager, CSR and IR Department Mar 2025 General Manager, Legal Department Jun 2025 Director of the Company (current) Apr 2026 General Manager, CSR and IR Department and General Manager, Legal Department, in charge of Accounting Department (current)
1964-11-06
Kazuhiro SUZUKI
Director (Audit and Supervisory Committee Member)
Oct 1984 Joined Shinko Audit Corporation May 1999 Partner, Chuo Audit Corporation May 2004 Representative Partner, Chuo Audit Corporation Aug 2007 Representative Partner, Shin Nihon & Co. (now EY ShinNihon LLC) Jun 2024 Retired from EY ShinNihon LLC Jun 2025 Director (Full-time Audit and Supervisory Committee Member) of the Company (current)
1961-07-28
Shinichi HATAKEYAMA
Director (Audit and Supervisory Committee Member)
Oct 1981 Joined Shinko Audit Corporation Sep 1997 Partner, Chuo Audit Corporation Jul 2005 Representative Partner, Chuo Audit Corporation Aug 2007 Representative Partner, Shin Nihon & Co. (now EY ShinNihon LLC) Jun 2015 Retired from Shin Nihon LLC (now EY ShinNihon LLC) Jun 2016 Director (Audit and Supervisory Committee Member) of the Company (current)
1953-03-18
Reiko MIYATA
Director (Audit and Supervisory Committee Member)
Apr 1979 Joined Sumitomo Corporation Jul 1983 Left Sumitomo Corporation May 1986 Joined Secretariat, Japan Society of Educational Sociology Jan 1990 Left Japan Society of Educational Sociology Nov 1995 Member, Yokohama City Housing Policy Council Dec 1999 Left Yokohama City Housing Policy Council Jun 2000 Member, Yokohama City Urban Planning Council Jul 2002 Left Yokohama City Urban Planning Council Jan 2003 Established Office WEG Jun 2023 Director (Audit and Supervisory Committee Member) of the Company (current)
1956-07-18
Yasuo KOJIMA
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Saitama Prefectural Government Apr 2009 Chief, Student Guidance Division, Education Bureau, Prefectural High Schools Department Apr 2011 Chief, Child Support Division, Welfare Department Apr 2013 Chief, General Affairs Division, Planning and Finance Department Apr 2015 Deputy Director, Planning and Finance Department Apr 2017 Deputy Director-General, Education Bureau Oct 2019 Director-General, Prefectural Citizens Affairs Department Apr 2020 Director, Governor's Office Mar 2022 Retired from Saitama Prefectural Government Apr 2022 Deputy Administrator, Saitama Prefecture Urawa Racing Association Mar 2025 Left Saitama Prefecture Urawa Racing Association Jun 2025 Director (Audit and Supervisory Committee Member) of the Company (current)
1961-11-12
Large Shareholding Reports
Matsuda Bussan Co., Ltd.
2026-05-07
12.93%→12.90%
Annual report (as of 2026-03-31): 13.39%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-07
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
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
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-24
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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