Overview
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KOSAIDO Holdings Co.,Ltd.

KOSAIDO Holdings operates three core business segments: Ending-related services (funeral, cremation, and memorial services primarily through Tokyo Hakuzen, which operates six cremation facilities in Tokyo, along with comprehensive funeral hall management and asset consulting); Information Solutions (printing, IT products, and BPO services through Kosaido Next and related entities); and Human Resources Services (HR tech, job advertising, staffing, dispatch, and Japanese language school operations, with domestic and overseas operations including Vietnam). The group leverages its diversified platform to serve individuals across life-stage needs under the concept of 'enriching the 100-year life.'

Market Cap
¥76.2B
US$486M
EV
¥66.6B
US$425M
Stock¥515▼-0.39%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.2
x
LTM EV/EBIT
10.4
x
LTM PER
16.6
x
LTM PBR
1.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-0.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Apr 1, 26Market: Japan stocks surged on US tariff negotiation progress
MC → EV Bridge
76.2BUS$486MMarket Cap14.9BUS$94.9M+ Debt22.3BUS$142M− Cash2.24BUS$14.3M− Inv. Sec.0.13BUS$0.81M+ NCI66.6BUS$425MEV
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Performance & Balance
Revenue 5Y (¥B)
35.4US$226M'22/336.7US$234M'23/335.5US$226M'24/338.3US$244M'25/336.2US$231M'26/3
EBITDA 5Y (¥B)
5.63US$35.9M'22/36.07US$38.7M'23/37.13US$45.4M'24/310.1US$64.6M'25/38.42US$53.7M'26/3
Net Income 5Y (¥B)
3.64US$23.2M'22/34.04US$25.8M'23/34.34US$27.7M'24/34.46US$28.5M'25/34.74US$30.2M'26/3
Capital Structure
77%
23%
EquityD/E 0.30xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
24.6US$157M28.3US$181M'22/321.7US$138M23.3US$149M'23/321.3US$136M22.1US$141M'24/313.5US$85.9M22.6US$144M'25/324.6US$157M16.0US$102M'26/3
Shareholders
Top 10 hold 65.3%
1
R&L Holdings Co., Ltd.
21.78%
2
Global Worker Haken Co., Ltd.
13.30%
3
Aso Corporation
9.13%
4
SBI Holdings,Inc.
7.38%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.56%
6
Polestar Co., Ltd.
2.71%
7
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
2.25%
8
Japan Custody Bank, Ltd. (re-trusted by Sumitomo Mitsui Trust Bank, Ltd. — Gakken Holdings Co., Ltd. Retirement Benefit Trust Account)
1.98%
9
Hikari Tsushin KK Investment Limited Liability Partnership
1.68%
10
Eiichi MASUBUCHI
1.57%
Management
10 officers
Yiwen LUO
Representative Director, Chairman and CEO
Apr 1992 Opened Chuubun Shoten bookstore Oct 1995 Established Chuubun Sangyo Co., Ltd.; Representative Director May 2006 Established Shanghai Xintiandi Co., Ltd. (now Japan Tourism Duty Free Co., Ltd.); Representative Director Aug 2009 President and Representative Director, Laox Co., Ltd. (now Laox Holdings Co., Ltd.) Dec 2017 Established Raku Hiroeki (Shanghai) Enterprise Management Co., Ltd.; Representative Director (current) Oct 2019 Established R&L Holdings Co., Ltd.; Representative Director (current) Mar 2021 Representative Director, Chairman, Laox Co., Ltd. (now Laox Holdings Co., Ltd.) May 2021 Representative Director, Chairman, Ascot Co., Ltd. Jun 2022 Director, Chairman, the Company Mar 2023 Representative Director, Chairman and CEO, Laox Holdings Co., Ltd. Apr 2024 Director, Iwate Hotel and Resort Co., Ltd. (current) Jun 2024 Representative Director, Hong Kong Ekiraku Co., Ltd. (current) Jun 2024 Representative Director, Chairman and CEO, the Company (current) Mar 2026 Representative Director, Chairman, President and CEO, Laox Holdings Co., Ltd. (current)
1963-04-29
Makoto TOKIWA
Representative Director, President and COO
Apr 1992 Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Aug 2004 Human Resources Department, Mizuho Bank Nov 2012 Branch Manager, Hirakata Branch, Mizuho Bank Apr 2022 Joined the Company Apr 2022 Senior Executive Officer, in charge of Business Strategy and Affiliate Management Jun 2024 Co-CFO, the Company Jun 2025 Representative Director, President and COO, the Company (current) Jun 2025 Responsible Officer for Affiliate Management (current)
1968-12-19
Masayuki WATANABE
Outside Director
Apr 1998 Joined Prime Minister's Office (General Affairs Division, Cabinet Secretariat) Oct 2001 Registered as attorney (Second Tokyo Bar Association) Oct 2001 Joined Anderson Mori & Tomotsune (formerly Anderson Mori Law Offices) Aug 2009 Joined Miyake & Partners, Attorney Corporation Jun 2014 Outside Director, Ohsho Food Service Corporation Jun 2016 Outside Director, Nittoh Kensetsu Co., Ltd. (current) Apr 2017 Member, Promotion Council for Government Integrated Resort Development Zones May 2018 Senior Partner Attorney, Miyake & Partners (current) Jun 2020 Outside Director, the Company (current) Jun 2021 Outside Director, Yoyogi Animation Academy Co., Ltd. Oct 2022 Outside Director (Audit and Supervisory Committee Member), Mitsuboshi Co., Ltd. Mar 2023 Non-Executive Director, Mitsuboshi Philippines Corporation Apr 2023 Outside Director (Audit and Supervisory Committee Member), Nihon Seima Co., Ltd. Feb 2025 Auditor, Spot Work Association, General Incorporated Association (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), nms Holdings Co., Ltd. (current) Oct 2025 Outside Audit & Supervisory Board Member, OSL Japan Co., Ltd. (current) Mar 2026 Outside Audit & Supervisory Board Member, Gyosei Co., Ltd. (current) Mar 2026 Outside Audit & Supervisory Board Member, Gyosei Research Institute Co., Ltd. (current) Mar 2026 Outside Audit & Supervisory Board Member, Nishinihon Horei Publishing Co., Ltd. (current)
1970-05-02
Akira KAMIMURA
Outside Director
Apr 2001 Judicial Apprentice, Legal Training and Research Institute, Supreme Court of Japan Oct 2002 Joined Anderson Mori & Tomotsune (formerly Anderson Mori Law Offices) Aug 2004 Joined Sidley Austin Foreign Law Joint Enterprise Aug 2008 Joined Sidley Austin LLP Aug 2009 Joined Uryu & Itoga Law Office, Attorney Corporation Mar 2013 Established Kamimura Law Office Mar 2014 Outside Audit & Supervisory Board Member, Laox Co., Ltd. (now Laox Holdings Co., Ltd.) (current) Aug 2014 Representative Director, KP Transaction Advisory Services Co., Ltd. (now KPTAS Co., Ltd.) (current) May 2016 Managing Partner, Kamimura, Taiyo & Mizuno Law Office (current) Jun 2021 Outside Director, the Company (current)
1973-07-11
Shigeyuki TAKEMURA
Outside Director
Apr 1975 Joined All Nippon Airways Co., Ltd. (ANA) Apr 2005 Executive Officer, Head of Research Office, ANA Jun 2008 Director, Executive Officer, in charge of Planning, Asia Strategy and Research Offices, ANA Apr 2010 Managing Director, Executive Officer, same responsibilities, ANA Apr 2011 Senior Managing Director, Executive Officer, same responsibilities, ANA Apr 2013 Senior Managing Director, Executive Officer, ANA Holdings Inc. Apr 2014 Director, Executive Vice President, ANA Holdings Inc. Apr 2017 Special Advisor, ANA Holdings Inc. Jul 2020 Outside Director, Trust Capital Co., Ltd. Apr 2021 Outside Director, World Holdings Co., Ltd. Jun 2021 Outside Director, the Company (current) Aug 2022 Director (Audit and Supervisory Committee Member), Cave Co., Ltd. (current) Jun 2023 Outside Audit & Supervisory Board Member, Vector Holdings Co., Ltd. Jun 2024 Outside Director, Vector Holdings Co., Ltd. (current)
1950-05-30
Shunichi NAKAIGAWA
Outside Director
Apr 1988 Joined World Securities Co., Ltd. (now SBI Securities Co., Ltd.) Jun 1996 Joined H.I.S. Co., Ltd. Mar 2004 Representative Director, Value Creation Co., Ltd. Jun 2007 Managing Director, Sawada Holdings Co., Ltd. (now HS Holdings Co., Ltd.) Jan 2008 Director, H.S. International (Asia) Limited Feb 2008 Director, Laox Co., Ltd. (now Laox Holdings Co., Ltd.) Nov 2009 President and Representative Director, H.S. Securities Co., Ltd. (now J Trust Global Securities Co., Ltd.) Jan 2013 Representative Director, Chairman, Ascot Co., Ltd. Apr 2016 President and Representative Director, Index Corporation (now iXIT Co., Ltd.) Feb 2021 President and Representative Director, Las Cars Capital Co., Ltd. (current) Jun 2021 Chairman, Y's Food Co., Ltd. Jun 2021 Outside Director, the Company (current) Jun 2023 Director, Y's Food Co., Ltd. Jun 2026 Outside Director, Mitsuboshi Co., Ltd. (current)
1963-04-16
Akane AIZAWA
Outside Director
Apr 1993 Exclusive court interpreter, Tokyo High Court and Tokyo District Court Apr 2002 Director, Vice Chair, Meguro City International Exchange Association, public interest foundation (current) Aug 2004 President and Representative Director, Global Network Co., Ltd. (current) Jul 2012 Joined Izumi Sogo Law Office, in charge of overseas business Jul 2017 Joined Ginza 1-chome Law Office, in charge of corporate management support and overseas business (current) Aug 2020 Managing Partner, H&S (current); investment consulting, real estate brokerage and rental management Jun 2024 Outside Director, the Company (current)
1963-12-09
Susumu FURUYA
Full-time Audit & Supervisory Board Member
Mar 1990 Joined the Company Apr 2011 General Manager, Sales Support Unit, Information C Business Division Apr 2015 General Manager, Business Management Department, Information C Business Division Apr 2017 General Manager, Sales Support Department, Sales Division, Information C Business Division Apr 2019 General Manager, Production Development Department, Print Products Business Division Apr 2020 General Manager, Internal Audit Office Jun 2023 Audit & Supervisory Board Member, the Company (current)
1967-11-24
Masanori KATO
Outside Audit & Supervisory Board Member
Oct 1995 Joined Ota Showa & Co. (now EY ShinNihon LLC) Feb 2003 Joined KPMG FAS Co., Ltd. Oct 2012 Established Kato Certified Public Accountant Office; Representative (current) Jun 2019 Outside Audit & Supervisory Board Member, the Company (current) Oct 2022 Outside Director (Audit and Supervisory Committee Member), Mitsuboshi Co., Ltd. Mar 2025 Outside Audit & Supervisory Board Member, Laox Holdings Co., Ltd. (current)
1971-02-15
Hideaki NUMAI
Outside Audit & Supervisory Board Member
Dec 2010 Registered as attorney Jun 2014 Attorney, Nijubashi Law Office (now Iwata Law Office) Feb 2016 Partner Attorney, Kotohira Sogo Law Office, Attorney Corporation Jun 2019 Outside Audit & Supervisory Board Member, the Company (current) Jun 2021 Outside Audit & Supervisory Board Member, Pracor Co., Ltd. (current) Aug 2021 Outside Director, Hadrus Holdings Co., Ltd. (current) Jan 2022 Outside Director, RECOSYS Co., Ltd. (current) Jun 2023 Established Numai Sogo Law Office; Representative (current) Aug 2024 Outside Director (Audit and Supervisory Committee Member), Racklands Co., Ltd. (current) Aug 2025 Outside Audit & Supervisory Board Member, Cyberstep Holdings Co., Ltd. (current)
1982-11-29
Large Shareholding Reports
R&L Holdings Co., Ltd.
2026-10-16
19.60%→21.74%
Annual report (as of 2026-03-31): 21.78%
R&L Holdings Co., Ltd.
2026-03-31
17.58%→19.60%
Annual report (as of 2026-03-31): 21.78%
PA ACE 4 (HK) Limited
2026-01-09
9.42%→0.00%
Correction filing (name/detail fix only) — ratio carried over from the original filing
PA ACE 4 (HK) Limited
2026-01-08
9.42%→0.00%
Fidelity Investment Trust Company, Limited
2025-08-07
6.08%→4.72%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-16
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-03-31
Large Shareholding Report
EDINET
2026-03-09
Securities Registration Statement
TDnet
2026-02-10
Q3 Earnings Flash
FY ending Mar 2026
EDINETAmended
2026-01-09
Change Report
EDINET
2026-01-08
Large Shareholding Report
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-07
Large Shareholding Report
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-10-11
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-10-04
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-03-12
Securities Registration Statement
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
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINETAmended
2022-09-06
Amended Annual Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
EDINET
2022-02-09
Quarterly Securities Report
EDINETAmended
2021-12-15
Amended Securities Registration Statement
EDINET
2021-12-10
Securities Registration Statement
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