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Overview
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Ledax Co.,Ltd.

Ledax Co., Ltd. operates primarily in the used vehicle distribution business, encompassing the purchase, sale, and export of used cars as well as the sale of automotive parts. The company also engages in a leaseback-related business utilizing special purpose vehicles (SPCs) for vehicle disposition. In addition, the company is pursuing new business initiatives including a financial joint venture with Freedom Holding Corp. and a sales agency and logistics partnership with U.S. NASDAQ-listed SuperX Group.

Market Cap
¥3.19B
US$20.4M
EV
¥2.05B
US$13.1M
Stock¥154▼-3.14%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
309.5
x
LTM EV/EBIT
NM
LTM PER
15.1
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-6.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 10, 26Stock recovery in line with broader market gains
MC → EV Bridge
3.19BUS$20.4MMarket Cap0.67BUS$4.26M+ Debt1.95BUS$12.5M− Cash0.12BUS$0.78M− Inv. Sec.0.27BUS$1.71M+ NCI2.05BUS$13.1MEV
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Performance & Balance
Revenue 5Y (¥B)
18.4US$117M'22/319.1US$122M'23/319.1US$122M'24/320.0US$128M'25/319.8US$127M'26/3
EBITDA 5Y (¥B)
0.28US$1.80M'22/3-0.41-US$2.59M'23/30.19US$1.21M'24/3-0.08-US$0.51M'25/3-0.01-US$0.05M'26/3
Net Income 5Y (¥B)
-0.29-US$1.87M'22/3-0.51-US$3.28M'23/30.07US$0.47M'24/3-0.19-US$1.19M'25/30.17US$1.08M'26/3
Capital Structure
87%
EquityD/E 0.15xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.26US$14.4M0.66US$4.18M'22/31.79US$11.4M0.63US$4.02M'23/32.38US$15.2M0.40US$2.56M'24/31.72US$10.9M0.69US$4.38M'25/32.25US$14.3M0.67US$4.28M'26/3
Shareholders
Top 10 hold 71.3%
as of 2026-03-31 · Source: Annual Securities Report
1
Reda Group Holdings Co., Ltd.
54.50%
2
EMMINENCE,LLC (Standing Proxy: SMBC Nikko Securities Inc.)
4.19%
3
Masayuki KABATA
4.02%
4
Ledax Co.,Ltd. Business Partners' Stock Ownership Association
3.19%
5
Yoshimi YAMADA
1.22%
6
Morgan Stanley MUFG Securities Co., Ltd.
1.12%
7
Minoru MORITA
0.96%
8
Ledax Co.,Ltd. Employee Stock Ownership Association
0.83%
9
SBI SECURITIES Co., Ltd.
0.64%
10
BNYM SA/NV FOR BNYM FOR BNY GCM CLIENT ACCOUNTS M LSCB RD (Standing Proxy: MUFG Bank, Ltd.)
0.60%
Management
7 officers
Masayuki KABATA
Director
Oct 1979: Central Tsusho Co., Ltd. (now Reda Group Holdings Co., Ltd.) established, Representative Director, President Jun 2011: Soukou Co., Ltd., Representative Director, Chairman Aug 2012: KAB Holdings LLC (now Reda Group Holdings Co., Ltd.), Member with Representative Authority Nov 2012: Company, Director and Executive Officer, Chairman Nov 2012: Reda Co., Ltd. (now Reda Group Holdings Co., Ltd.), Director, Chairman Nov 2012: Soukou Co., Ltd., Director, Chairman (current) Apr 2014: Curtis Co., Ltd., Director, Chairman (current) Dec 2014: Agasta Co., Ltd., Director, Chairman (current) Jul 2015: Reda Corporation Co., Ltd. (now Reda Co., Ltd.), Director, Chairman Jun 2018: Reda Group Holdings Co., Ltd., Representative Director, Chairman and President (current) Jun 2020: Reda Co., Ltd., Representative Director, Chairman and President (current) Jun 2023: Company, Director and Representative Executive Officer, Chairman (current) Oct 2023: Curtis Logitech Co., Ltd., Director (current) Oct 2024: Shinko Automobile Co., Ltd., Director, Chairman (current) Jan 2026: Freedom Japan Co., Ltd., Director (current)
1953-08-08
Norimi NAGAKURA
Director
Apr 1990: Joined Kokusai Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Dec 1990: Toho Foods Service Co., Ltd. established, Representative Director, President Dec 2003: Olega Co., Ltd., Representative Director, President Jun 2008: Joined Connect Technologies Co., Ltd. (now G3 Holdings Co., Ltd.) Nov 2010: Director, Connect Technologies Co., Ltd. Nov 2012: Representative Director, President, Connect Technologies Co., Ltd. Feb 2020: Joined the Company, General Manager, Corporate Planning and Administration Division Jun 2020: Curtis Co., Ltd., Director (current) Jun 2020: Company, Director and Executive Officer Jun 2021: Takatoku Co., Ltd., Director (current) Jun 2021: Agasta Co., Ltd., Director Jun 2021: Company, Director and Managing Executive Officer Nov 2021: Agasta Co., Ltd., Representative Director, Managing Director Nov 2021: Company, Director and Representative Managing Executive Officer Feb 2022: Agasta Co., Ltd., Representative Director, President Oct 2023: Curtis Logitech Co., Ltd., Representative Director, President Nov 2023: Company, Director and Representative Executive Officer, President (current) Nov 2023: Reda Group Holdings Co., Ltd., Director (current) Oct 2024: Shinko Automobile Co., Ltd., Representative Director, President Jan 2026: Shinko Automobile Co., Ltd., Director (current) Jan 2026: Curtis Logitech Co., Ltd., Auditor (current) Jan 2026: Freedom Japan Co., Ltd., Auditor (current)
1967-12-15
Yuta WATANABE
Director
Apr 1997: Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Mar 2008: Joined Asset Investors Corporation (Merchant Bankers Co., Ltd.) Jun 2009: Executive Officer, Asset Investors Corporation Jul 2011: Joined Tokyo Star Bank, Ltd. Apr 2020: General Manager, Corporate Banking Division, Tokyo Star Bank, Ltd. Sep 2021: Octoforce Management Co., Ltd., Managing Executive Officer Mar 2022: Octoforce Management Co., Ltd., Director, Executive Vice President, COO and CIO Nov 2024: Joined the Company, General Manager, Financial Investment Business Division Nov 2024: Curtis Logitech Co., Ltd., Senior Managing Director Apr 2025: Company, General Manager, Management Planning Office, General Manager, Sales Strategy Division, and General Manager, Financial Investment Business Division (current) Apr 2025: Curtis Co., Ltd., General Manager, Sales Headquarters Jun 2025: Curtis Co., Ltd., Representative Director, President (current) Jun 2025: Agasta Co., Ltd., Director Jun 2025: Takatoku Co., Ltd., Director (current) Jun 2025: Curtis Logitech Co., Ltd., Senior Managing Director Jun 2025: Company, Director and Senior Executive Officer (current) Jan 2026: Curtis Logitech Co., Ltd., Director (current) Jan 2026: Freedom Japan Co., Ltd., Representative Director Jan 2026: Agasta Co., Ltd., Representative Director, President (current) Apr 2026: Freedom Japan Co., Ltd., Director (current) Apr 2026: Shinko Automobile Co., Ltd., Representative Director, President (current)
1973-05-17
Tateo KAWAMURA
Director
Apr 1967: Joined Seibu Oil Co., Ltd. Aug 1976: Member, Yamaguchi Prefectural Assembly Feb 1990: Member, House of Representatives Sep 2003: Minister of Education, Culture, Sports, Science and Technology (Koizumi Cabinet) Sep 2008: Chief Cabinet Secretary (Aso Cabinet) Oct 2025: Chairman, Checkmate Japan Co., Ltd. (current) Jun 2026: Director, the Company (current)
1942-11-10
Tadakuni HIRANO
Director
Apr 1965: Joined Ministry of Transport (now Ministry of Land, Infrastructure, Transport and Tourism) Jun 1994: Deputy Commissioner, Japan Coast Guard Jun 1994: Chairman, Japan Association of Travel Agents (now General Incorporated Association) Jul 1996: Nippon Cargo Airlines Co., Ltd., Senior Managing Director Jun 2003: Kansai International Airport Co., Ltd., Representative Director, Executive Vice President Jun 2009: Kansai International Airport Co., Ltd., Adviser Dec 2013: Company, Adviser Jun 2014: Company, Director and Executive Vice Chairman Jun 2014: Curtis Co., Ltd., Auditor Jun 2016: Company, Director (current)
1942-08-20
Teruki UCHIDA
Director
Apr 1964: Joined Ministry of Finance Jul 1990: Supervisor, Tokyo Stock Exchange, Kanto Finance Bureau, and Counselor, Minister's Secretariat (in charge of Securities Bureau) Jun 1992: Director-General, National Printing Bureau, Ministry of Finance Jun 1993: Managing Director, Electric Power Development Co., Ltd. Apr 2001: Vice President, Osaka Securities Exchange Co., Ltd. Jun 2002: Director and Vice Chairman, Takefuji Corporation Feb 2007: Registered as attorney-at-law Sep 2007: Joined Watanabe Sogo Law Office (now Watanabe Sakai Law Office, Foreign Law Joint Enterprise) (current) Nov 2012: Outside Director, the Company (current) Jun 2013: Auditor, Cross Marketing Group Inc. Mar 2017: Outside Director (Audit and Supervisory Committee Member), Cross Marketing Group Inc. (current)
1941-02-28
Mamoru TAMURA
Director
Jun 1991: Joined Taiyo Kobe Mitsui Bank (now Sumitomo Mitsui Banking Corporation) Jun 1997: Vice President, New York Branch, Taiyo Kobe Mitsui Bank Aug 2000: Director, Corporate Sales Department, Merrill Lynch Securities (now BofA Securities) Jun 2006: FJ Next Co., Ltd. (now FJ Next Holdings Co., Ltd.), Director, General Manager, Management Planning Office Nov 2009: Seijo Capital Partners Co., Ltd. established, Representative Director (current) May 2015: Mac House Co., Ltd. (now G-Yet Co., Ltd.), Auditor Aug 2023: Kakuyasu Co., Ltd., Auditor (current) Apr 2026: Agasta Co., Ltd., Auditor (current) Jun 2026: Freedom Japan Co., Ltd., Director (current) Jun 2026: Curtis Co., Ltd., Auditor (current) Jun 2026: Takatoku Co., Ltd., Auditor (current) Jun 2026: Shinko Automobile Co., Ltd., Auditor (current) Jun 2026: Company, Outside Director (current)
1967-12-26
Large Shareholding Reports
No filings
Disclosures
M&A / Other
2026-09-16
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Primary Source Filings
TDnet
2026-09-16
M&A / Other
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TDnet
2026-08-12
Q1 Earnings Flash
FY ending Mar 2027
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EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
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TDnet
2026-02-10
Q3 Earnings Flash
FY ending Mar 2026
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EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
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TDnet
2025-08-13
Q1 Earnings Flash
FY ending Mar 2026
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EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
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TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
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EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
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TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
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EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
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EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
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EDINET
2023-11-09
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
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EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
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EDINETAmended
2023-08-07
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
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EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
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EDINET
2023-02-09
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
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EDINET
2022-11-14
Quarterly Securities Report
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EDINET
2022-08-12
Quarterly Securities Report
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EDINET
2022-06-24
Annual Securities Report
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EDINET
2022-02-10
Quarterly Securities Report
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EDINET
2021-11-11
Quarterly Securities Report
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EDINET
2021-08-05
Quarterly Securities Report
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EDINET
2021-06-25
Annual Securities Report
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EDINET
2021-02-12
Quarterly Securities Report
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