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Overview

Wholesale Trade

MUSASHI CO.,LTD.

Musashi Co., Ltd. is a diversified systems and solutions company offering information/printing/industrial systems, financial processing systems, and election management systems, as well as paper and paper-processed products. The company provides high-speed specialty printers, DX solutions, currency handling equipment, and end-to-end election administration software and hardware. Its competitive strengths lie in niche system expertise across financial institutions and public sector clients, supported by a group structure of subsidiaries covering field support, engineering, and leasing services.

Market Cap

¥17.8B

US$113M

¥-5.88B

-US$37.4M

Stock¥2,615▼-0.57%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

LTM EV/EBIT

LTM PER

9.0

LTM PBR

0.5

2026-08-25 closing price basis: ranked #25 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-47B).

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-6.9%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Jan 13, 26Announced acquisition of paper/printer business from Fujifilm

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

91%

EquityD/E 0.10xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 61.0%

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

Joumo Jitsugyo Co., Ltd.

20.37%

Shorin Shoji Co., Ltd.

13.16%

MUSASHI CO.,LTD. Employee Stock Ownership Association

4.59%

Musashi Mutual Aid Association

4.38%

Koichi KOBAYASHI

3.48%

Custody Bank of Japan, Ltd. (Trust Account)

3.44%

Seigo NAITO

3.35%

INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)

2.98%

Hikari Tsushin Inc. Investment Business Limited Partnership

2.91%

Mizuho Bank, Ltd.

2.34%

Management

17 officers

Koichi KOBAYASHI

Representative Director, Honorary Chairman

Feb 1972 Joined the Company Nov 1982 Director, General Manager of Comprehensive Planning Department Dec 1986 Managing Director, Deputy General Manager of Paper Business Division Dec 1989 Representative Director, Senior Managing Director, General Manager of Paper Business Division Mar 1991 Representative Director, Senior Managing Director, General Manager of TC Business Division Dec 1992 Representative Director, President Jun 2013 Representative Director, Chairman Jun 2025 Representative Director, Honorary Chairman (current)

1943-10-12

Masataka HATORI

Representative Director, Chairman

Aug 1982 Joined Nihon Information Co., Ltd. (now J.I.M. Co., Ltd.) Dec 1984 Joined the Company Dec 1984 Director, Deputy General Manager of Business Management Division Dec 1986 Managing Director, Deputy General Manager of Business Management Division Dec 1992 Representative Director, Senior Managing Director, General Manager of Administration Division Jun 1997 Representative Director, Senior Managing Director, in charge of P&C Sales Department Apr 2003 Representative Director, Senior Managing Director, General Manager of Management Division Jun 2010 Representative Director, Vice President Jun 2013 Representative Director, President Jun 2025 Representative Director, Chairman (current)

1943-06-29

Koichi ONO

Representative Director, President

Apr 1985 Joined the Company Jun 2011 General Manager, East Kanto Branch Jun 2015 General Manager, Chugoku-Shikoku Branch Jun 2017 Director, Deputy General Manager, Tokyo No. 1 Branch Jun 2019 Director, General Manager of Management Planning Division; General Manager of Group Company Management Office Jun 2021 Managing Director, General Manager of Management Planning Division Jun 2023 Vice President, Director, General Manager of Management Division Jun 2025 Representative Director, President (current)

1961-08-20

Shoji KOBAYASHI

Senior Managing Director, General Manager of Management Division

Apr 2009 Joined the Company Jun 2017 General Manager, Paper and Paper Processing Business Division Jun 2019 Director, General Manager, Paper and Paper Processing Business Division May 2021 Director, General Manager, Tokyo No. 1 Branch; General Manager, Paper and Paper Processing Business Division Jun 2021 Managing Director, General Manager, Tokyo No. 1 Branch Jun 2023 Senior Managing Director, General Manager of First Sales Division Jun 2025 Senior Managing Director, General Manager of Management Division (current)

1975-07-27

Tomonori HATORI

Senior Managing Director, General Manager of Officers' Office and Group Company Management Office

May 2010 Joined the Company Jun 2017 General Manager, Management Planning Department, Management Planning Division Jun 2019 Director, Deputy General Manager of Management Planning Division; General Manager, Management Planning Department Jun 2020 Director, General Manager of Officers' Office; Deputy General Manager of Management Planning Division; General Manager, Management Planning Department Jun 2021 Managing Director, General Manager of Officers' Office and Group Company Management Office Jun 2023 Senior Managing Director, General Manager of Officers' Office (current); General Manager of Group Company Management Office (current)

1974-05-25

Yoshiaki YAMAMOTO

Director, General Manager of Finance Department

Apr 1985 Joined the Company Jun 2019 Director, General Manager of Finance Department (current)

1961-04-12

Kazunori MURATA

Director, General Manager of First Sales Division

Apr 1985 Joined the Company May 2015 Director, Musashi ABC Co., Ltd. Feb 2021 Deputy General Manager, First Sales Division Apr 2021 General Manager, Nagoya Branch Jun 2021 Director, General Manager, Nagoya Branch Jun 2023 Director, General Manager, Tokyo No. 1 Branch Jun 2025 Director, General Manager of First Sales Division (current)

1962-03-08

Akihiko MORIYAMA

Director, General Manager of Second Sales Division and Manager of Tokyo No. 2 Branch

Apr 1986 Joined the Company Jun 2017 General Manager, Sapporo Branch Jan 2021 General Manager, Tokyo No. 2 Branch Jun 2021 Director, General Manager of Second Sales Division Jun 2023 Director, General Manager of Second Sales Division (current); Manager, Tokyo No. 2 Branch (current)

1963-09-05

Takayuki YOKOO

Director, General Manager of Paper and Paper Processing Business Division

Apr 1988 Joined the Company Jun 2017 General Manager, Sales Department, Paper and Paper Processing Business Division Jun 2021 Director, General Manager of Paper and Paper Processing Business Division (current)

1964-08-26

Tetsuro IKEDA

Director, Manager of Tokyo No. 1 Branch

Apr 1987 Joined the Company Oct 2020 General Manager, North Kanto Branch Jun 2023 Director, General Manager, Nagoya Branch Jun 2025 Director, General Manager, Tokyo No. 1 Branch (current)

1964-08-09

Katsunori OGINO

Director, Manager of Osaka Branch

Apr 1993 Joined the Company Jun 2021 General Manager, Fukuoka Branch May 2025 General Manager, Osaka Branch Jun 2025 Director, General Manager, Osaka Branch (current)

1969-06-21

Kenta TAJIMA

Director, Manager of Nagoya Branch

Apr 1993 Joined the Company Jun 2021 General Manager, Tokyo No. 2 Branch Jun 2023 General Manager, North Kanto Branch Jun 2025 Director, General Manager, Nagoya Branch (current)

1969-01-22

Naoaki TAKAHARA

Director

Apr 2015 Registered as Certified Tax Accountant Jun 2015 Director of the Company (current)

1980-03-17

Yoshinori KOBAYASHI

Full-time Audit & Supervisory Board Member

Apr 1983 Joined the Company Jun 2017 Director, General Manager, Osaka Branch Jun 2021 Managing Director, General Manager of First Sales Division and General Manager of Election Sales Division Jun 2023 Full-time Audit & Supervisory Board Member (current)

1960-01-30

Masato TAKAHASHI

Full-time Audit & Supervisory Board Member

Apr 1989 Joined the Company Apr 2024 Manager, Tokyo No. 1 Branch Jun 2025 Full-time Audit & Supervisory Board Member (current)

1965-10-09

Nobuhiko ANDO

Audit & Supervisory Board Member

Oct 1993 Passed the Japanese Bar Examination Apr 1996 Registered with the Tokyo Bar Association Jun 2007 Audit & Supervisory Board Member of the Company (current)

1964-04-29

Ken AKAISHI

Audit & Supervisory Board Member

Apr 2004 Registered as Certified Public Accountant; Akaishi Ken CPA Office (current) Jul 2004 Registered as Certified Tax Accountant Jun 2020 Audit & Supervisory Board Member of the Company (current)

1965-05-20

Large Shareholding Reports

No filings

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-04

Q1 Earnings Flash

FY ending Mar 2027

MUSASHI CO.,LTD.

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MUSASHI CO.,LTD.

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