Overview
Precision Instruments

OVAL Corporation

OVAL Corporation is a Japan-based manufacturer and seller of industrial flow meters and measurement instruments, offering a comprehensive product lineup including positive displacement, Coriolis, vortex, ultrasonic, turbine, and thermal mass flow meters. The company also provides system solutions encompassing instrumentation, control and management devices, as well as calibration and after-maintenance services. Key target markets include industrial process measurement, hydrogen and fuel cell applications, lithium-ion battery manufacturing, and water infrastructure, with competitive strengths in both sensor technology and integrated system solutions.

Market Cap
¥18.5B
US$118M
EV
¥17.1B
US$109M
Stock¥910▲+0.00%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
10.1
x
LTM EV/EBIT
14.5
x
LTM PER
17.4
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+22.2%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 17, 25Interim earnings - guidance downward revision
2Feb 19, 26Q3 earnings - upward guidance revision
3Feb 27, 26Annual earnings - dividend increase announced
MC → EV Bridge
18.5BUS$118MMarket Cap2.38BUS$15.2M+ Debt3.60BUS$22.9M− Cash0.70BUS$4.48M− Inv. Sec.0.46BUS$2.91M+ NCI17.1BUS$109MEV
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Performance & Balance
Revenue 5Y (¥B)
11.1US$71.1M'22/313.3US$84.9M'23/314.3US$91.5M'24/315.0US$96.0M'25/315.6US$99.4M'26/3
EBITDA 5Y (¥B)
0.82US$5.25M'22/31.72US$11.0M'23/31.97US$12.6M'24/31.96US$12.5M'25/32.23US$14.2M'26/3
Net Income 5Y (¥B)
0.29US$1.82M'22/30.65US$4.14M'23/31.10US$7.03M'24/31.03US$6.56M'25/31.40US$8.93M'26/3
Capital Structure
87%
EquityD/E 0.15xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
3.71US$23.7M2.49US$15.9M'22/33.48US$22.2M2.20US$14.0M'23/33.75US$23.9M1.87US$11.9M'24/34.58US$29.2M1.64US$10.5M'25/34.56US$29.1M2.35US$15.0M'26/3
Shareholders
Top 10 hold 39.2%
1
Meiji Yasuda Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
9.33%
2
TOKYO KEIKI INC.
6.43%
3
Todoroki Sangyo Co., Ltd.
5.61%
4
Mikasa Co., Ltd.
3.99%
5
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
3.39%
6
NORTHERN TRUST CO.(AVFC) RE U.S.TAX EXEMPTED PENSION FUNDS SEC LENDING (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.96%
7
YOKOGAWA ELECTRIC CORPORATION
2.52%
8
OVAL Corporation Business Partners' Stock Ownership Association
1.98%
9
OVAL Corporation Stock Ownership Association
1.53%
10
Ken KAJIMA
1.47%
Management
9 officers
Jun TANIMOTO
Representative Director, President; in charge of Internal Audit Office, Secretarial Office and Corporate Planning Office
Mar 1982 Joined the Company Apr 2002 General Manager, Technology Division Jun 2002 Executive Officer, General Manager, Technology Division Mar 2003 Executive Officer, Deputy General Manager, Technology Headquarters; General Manager, Technology Division Jun 2004 Director and Executive Officer, General Manager, Technology Headquarters Mar 2005 Director and Executive Officer, General Manager, Technology Headquarters and Technology Division; attached to China Business Headquarters Apr 2008 Director and Executive Officer, General Manager, Technology Headquarters and Product Planning Division Oct 2009 Director and Executive Officer, in charge of Product Planning Division; General Manager, NFS Engineering Headquarters, New Business Promotion Division and System Development Division Apr 2010 Director and Executive Officer, in charge of Corporate Planning Office and Product Planning Division; General Manager, New Business Promotion Division Jun 2011 Representative Director, President; in charge of Technology Headquarters, Product Planning Division and New Business Promotion Division Oct 2011 Representative Director, President; in charge of Corporate Planning Office and Internal Audit Office Jun 2012 Representative Director, President; in charge of Internal Audit Office and Corporate Planning Office Jul 2025 Representative Director, President; in charge of Internal Audit Office, Secretarial Office and Corporate Planning Office (current)
1957-04-07
Yoshio ASANUMA
Director and Managing Executive Officer; in charge of Administration Headquarters (excluding Information Systems Department) and System Engineering Department; General Manager, Administration Headquarters
Apr 1983 Joined the Company Apr 2006 General Manager, Technology Division and General Manager, Production Technology Division Jun 2009 Executive Officer, General Manager, Technology Division Jun 2011 Executive Officer, General Manager, Technology Headquarters and R&D Division Mar 2017 Executive Officer, General Manager, R&D Division; General Manager, China Business Promotion Office; Director, Beijing Office Apr 2017 Executive Officer, General Manager, System Engineering Division; General Manager, China Business Promotion Office; Director, Beijing Office Jun 2019 Director and Executive Officer, in charge of Sales Headquarters and Service Department; General Manager, System Engineering Division; General Manager, China Business Promotion Office; Director, Beijing Office Apr 2020 Director and Executive Officer, in charge of Sales Headquarters and Service Department; General Manager, System Engineering Division; General Manager, China Business Promotion Office Jun 2020 Director and Executive Officer, in charge of Manufacturing Headquarters and Technology Headquarters; General Manager, System Engineering Division; General Manager, China Business Promotion Office Jun 2021 Director and Executive Officer, in charge of Administration Division and Marketing Division; General Manager, System Engineering Division; General Manager, China Business Promotion Office Jun 2022 Director and Executive Officer, in charge of Administration Division, China Business Promotion Office and System Engineering Division; General Manager, China Business Promotion Office; General Manager, System Engineering Division Apr 2023 Director and Executive Officer, in charge of Administration Division and System Engineering Division; General Manager, System Engineering Division Jun 2023 Director and Managing Executive Officer, in charge of Administration Division and System Engineering Division; General Manager, System Engineering Division Apr 2026 Director and Managing Executive Officer, in charge of Administration Headquarters (excluding Information Systems Department) and System Engineering Department; General Manager, Administration Headquarters (current)
1959-05-13
Yoshiki KATO
Director and Managing Executive Officer; in charge of Sales Headquarters; General Manager, Sales Headquarters
Apr 1992 Joined the Company Apr 2012 General Manager, International Sales Division Apr 2013 General Manager, Plant Sales Division Jun 2013 Executive Officer, General Manager, Plant Sales Division Apr 2016 Executive Officer, General Manager, East Japan Sales Division Apr 2017 Executive Officer, General Manager, Sales Headquarters Oct 2018 Executive Officer, General Manager, Sales Headquarters and General Manager, International Sales Division Jun 2020 Director and Executive Officer, in charge of Service Department; General Manager, Sales Headquarters and General Manager, International Sales Division Jun 2021 Director and Executive Officer; General Manager, Sales Headquarters and General Manager, International Sales Division Apr 2022 Director and Executive Officer; General Manager, Sales Headquarters Jun 2022 Director and Executive Officer, in charge of Sales Headquarters; General Manager, Sales Headquarters Jun 2023 Director and Managing Executive Officer, in charge of Sales Headquarters; General Manager, Sales Headquarters (current)
1969-01-24
Seiji NIIKUNI
Director and Senior Executive Officer; in charge of Quality Assurance Department, Service Department, Inspection Department, Technology Headquarters and Environmental Chemistry Management Department; General Manager, Yokohama Works
Apr 1985 Joined the Company May 2012 General Manager, Service Division Jun 2017 Executive Officer, General Manager, Service Division Jun 2021 Director and Executive Officer, in charge of Quality Assurance Department, Certification Business Office, Inspection Department, Manufacturing Headquarters and Technology Headquarters; General Manager, Yokohama Works; General Manager, Service Division Apr 2022 Director and Executive Officer, in charge of Quality Assurance Department, Certification Business Office, Service Department, Inspection Department, Manufacturing Headquarters and Technology Headquarters; General Manager, Yokohama Works Jun 2022 Director and Executive Officer, in charge of Quality Assurance Department, Certification Business Office, Service Department and Yokohama Works; General Manager, Yokohama Works Apr 2023 Director and Executive Officer, in charge of Quality Assurance Department, Service Department and Yokohama Works; General Manager, Yokohama Works Jun 2023 Director and Senior Executive Officer, in charge of Quality Assurance Department, Service Department and Yokohama Works; General Manager, Yokohama Works Apr 2024 Director and Senior Executive Officer, in charge of Quality Assurance Department, Service Department, Inspection Department and Technology Headquarters; General Manager, Yokohama Works Apr 2026 Director and Senior Executive Officer, in charge of Quality Assurance Department, Service Department, Inspection Department, Technology Headquarters and Environmental Chemistry Management Department; General Manager, Yokohama Works (current)
1966-06-21
Hitoshi OGUMA
Director and Senior Executive Officer; in charge of Information Systems Department, Marketing Department and Manufacturing Headquarters; Deputy General Manager, Yokohama Works; Director, Oval Beijing Office
Apr 1986 Joined the Company Apr 2014 General Manager, Manufacturing Division Apr 2015 General Manager, Information Systems Office Apr 2018 General Manager, Information Systems Office; General Manager, Corporate Planning Department Jun 2019 Executive Officer, General Manager, Marketing Division Jun 2022 Director and Executive Officer, in charge of Marketing Department; General Manager, Marketing Division Oct 2022 Director and Executive Officer, in charge of Information Systems Department and Marketing Department; General Manager, Marketing Division Apr 2023 Director and Executive Officer, in charge of Information Systems Department and Marketing Department; General Manager, Marketing Division; Director, Oval Beijing Office Jun 2023 Director and Senior Executive Officer, in charge of Information Systems Department and Marketing Department; General Manager, Marketing Division; Director, Oval Beijing Office Apr 2024 Director and Senior Executive Officer, in charge of Information Systems Department, Marketing Department and Manufacturing Headquarters; Deputy General Manager, Yokohama Works; Director, Oval Beijing Office (current)
1967-08-18
Yasuhiro TAKAHASHI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1983 Joined Yasuda Life Insurance Company (now Meiji Yasuda Life Insurance Company) Apr 1995 General Manager, Ikebukuro Flora Sales Department, Ikebukuro Branch Apr 1997 General Manager, Second Sales Department, Flora Corporate Branch Apr 2000 General Manager, Sendai East Regional Sales Department, Sendai Branch Apr 2002 General Manager, Saitama East Regional Sales Department, Urawa Branch Apr 2004 Manager, Omiya Sales Office, Omiya Branch Apr 2005 General Manager, Agency Sales Department, Fuchu Branch Apr 2008 Branch Manager, Wakayama Branch Apr 2012 General Manager, Osaka General Affairs Department Apr 2015 General Manager, Osaka Administrative Services Department, MYJ Co., Ltd. (now Meiji Yasuda Office Partners Co., Ltd.) Apr 2021 Executive Officer, General Manager, Group and Savings Administrative Services Department Apr 2024 Senior Advisor, Group and Savings Administrative Services Department Jun 2024 Retired as Senior Advisor; Outside Director, Audit and Supervisory Committee Member of the Company (current)
1960-04-08
Yoshiya TERAO
Director (Audit and Supervisory Committee Member)
Apr 1983 Joined Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry); joined National Research Laboratory of Metrology, Agency of Industrial Science and Technology Dec 1995 Seconded to National Institute of Standards and Technology (NIST), USA (for one year) Mar 2001 Left Ministry of International Trade and Industry Apr 2001 Joined National Institute of Advanced Industrial Science and Technology (AIST); Head of Research Laboratory, Dean of Graduate School, and Chief Research Coordinator, Engineering Metrology Standards Research Division Apr 2019 Technical Staff, Metrology and Standards Research Center, AIST (current) Apr 2019 Owner, Terao Giken Measurement Consultant (current) Jun 2022 Outside Director, Audit and Supervisory Committee Member of the Company (current) Oct 2024 Auditor, Flow Engineering Co., Ltd. (current)
1958-11-14
Tadashi MATSUMOTO
Director (Audit and Supervisory Committee Member)
Apr 1973 Joined Chino Corporation (now CHINO Corporation) May 2003 Representative Director, President, CHINO Service Co., Ltd. Jun 2006 Director, General Manager, Equipment Business Division, CHINO Corporation Apr 2009 Director, General Manager, Solutions Sales Division, CHINO Corporation Apr 2010 Director, in charge of Overseas Business Promotion, CHINO Corporation Jun 2012 Managing Director, General Manager, Overseas Business Division and in charge of ASEAN Development, CHINO Corporation Jun 2015 Director, Managing Executive Officer, General Manager, Overseas Business Division, CHINO Corporation Jun 2019 Director, Senior Managing Executive Officer, General Manager, Overseas Business Headquarters, CHINO Corporation Jun 2021 Retired as Director, Senior Managing Executive Officer; Advisor, CHINO Corporation Jun 2022 Outside Director, Audit and Supervisory Committee Member of the Company (current) Jun 2023 Retired as Advisor, CHINO Corporation
1950-07-01
Makiko USHIJIMA
Director (Audit and Supervisory Committee Member)
Apr 1990 Joined Seibu Department Stores, Ltd. (now Sogo & Seibu Co., Ltd.) Oct 1993 Joined Central Coopers & Lybrand Consulting Co., Ltd. (now IBM Japan, Ltd.) May 1997 Registered as Certified Public Accountant Aug 1999 Joined Daiichi Life Information Systems Co., Ltd. May 2001 Joined KPMG Consulting Co., Ltd. (now PwC Consulting LLC) Apr 2005 Joined First Partners Group Co., Ltd. (now AVENTE Inc.) Apr 2006 Director, First Partners Group Co., Ltd. Sep 2006 Outside Audit & Supervisory Board Member, Alpha Trend Holdings, Inc. Jun 2007 Representative, Ushijima Accounting Office (current) Dec 2014 Registered as Certified Tax Accountant Feb 2020 Auditor, OK Ikuei Foundation (current) Jun 2023 Outside Director, Audit and Supervisory Committee Member of the Company (current)
1967-03-15
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
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
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINETAmended
2022-11-14
Amended Quarterly Securities Report
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
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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