Overview
Glass and Ceramics Products

NICHIHA CORPORATION

Nichiha Corporation is a leading manufacturer of exterior wall materials in Japan, specializing in fiber cement (ceramic) siding products for both residential and commercial buildings, with a dominant domestic market share of approximately 59.5% in the ceramic siding segment as of FY2024. The company offers a lineup of over 800 exterior wall material variants and operates across the full value chain including manufacturing, processing, and construction services. Beyond its core exterior materials business, Nichiha also engages in fiber board production, exterior construction services, and urethane insulation panel manufacturing through its group subsidiaries.

Market Cap
¥94.2B
US$601M
EV
¥76.6B
US$488M
Stock¥2,836▼-0.94%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.0
x
LTM EV/EBIT
7.6
x
LTM PER
22.5
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-20.4%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 10, 25H1 net profit +34.9% YoY beat drives rally
2Aug 3, 26Q1 FY2027/03 earnings announced; Board approved share buyback
MC → EV Bridge
94.2BUS$601MMarket Cap15.9BUS$102M+ Debt22.1BUS$141M− Cash11.5BUS$73.2M− Inv. Sec.76.6BUS$488MEV
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Performance & Balance
Revenue 5Y (¥B)
129US$820M'22/3138US$881M'23/3143US$911M'24/3148US$947M'25/3144US$917M'26/3
EBITDA 5Y (¥B)
17.4US$111M'22/315.1US$96.3M'23/315.6US$99.2M'24/312.4US$79.1M'25/314.7US$93.8M'26/3
Net Income 5Y (¥B)
10.1US$64.7M'22/39.04US$57.6M'23/38.07US$51.4M'24/32.71US$17.3M'25/32.49US$15.9M'26/3
Capital Structure
88%
EquityD/E 0.13xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
50.4US$321M15.5US$98.8M'22/339.6US$253M15.5US$98.7M'23/337.8US$241M15.1US$96.6M'24/336.7US$234M16.2US$103M'25/336.6US$234M15.9US$101M'26/3
Shareholders
Top 10 hold 52.9%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.77%
2
GINSEN CO.,LTD.
7.88%
3
Sumitomo Forestry Co.,Ltd.
7.75%
4
Custody Bank of Japan, Ltd. (Trust Account)
6.88%
5
Sumitomo Mitsui Banking Corporation
4.81%
6
SMB Building Materials Co., Ltd.
3.89%
7
Sumitomo Life Insurance Company
2.88%
8
ITOCHU KENZAI CORPORATION
2.50%
9
Sumitomo Mitsui Trust Bank, Limited
2.28%
10
THE BANK OF NEW YORK MELLON 140044 (Standing Proxy: Mizuho Bank, Ltd.)
2.28%
Management
13 officers
Narimitsu YOSHIOKA
Representative Director, President and Executive Officer; Overall Management, Internal Audit
Apr 1986 Joined Sumitomo Bank, Ltd. Apr 2018 Managing Executive Officer, Sumitomo Mitsui Financial Group, Inc. and Managing Executive Officer, Head of East Asia Division, Sumitomo Mitsui Banking Corporation May 2020 Advisor to the Company Jun 2020 Director and Executive Vice President, Executive Officer Jun 2021 Representative Director, President and Executive Officer (current)
1963-09-14
Kazushi TONOI
Director, Senior Managing Executive Officer; in charge of Corporate Planning, Finance, Environment Office and Logistics Department; CLO; General Manager, Finance Department
Apr 1986 Joined Sumitomo Bank, Ltd. Apr 2014 General Manager, Corporate Sales Department No. 10, Head Office, Sumitomo Mitsui Banking Corporation Apr 2015 Advisor to the Company Oct 2015 Managing Executive Officer Jun 2016 Director, Managing Executive Officer Apr 2018 Director, Senior Managing Executive Officer (current)
1963-11-07
Kazuhiro KAWACHI
Director, Managing Executive Officer; General Manager, Production Division; in charge of Systems Division and Safety Promotion Office
Apr 1987 Joined the Company Apr 2010 General Manager, Iwaki Plant Apr 2013 Executive Officer Apr 2014 Senior Executive Officer Jun 2015 Director, Senior Executive Officer Jun 2017 Director, Managing Executive Officer Apr 2020 Representative Director, NICHIHA MATEX Corporation Jun 2020 Managing Executive Officer Jun 2021 Representative Director, Takahagi NICHIHA Corporation (current) Apr 2024 General Manager, Production Division Jun 2025 Director, Managing Executive Officer (current)
1964-05-19
Soji OKA
Director, Managing Executive Officer; General Manager, Technology Division; in charge of Research and Development Department
Apr 1992 Joined Nippon Cement Co., Ltd. Apr 2010 General Manager, Manufacturing Department, MMC Business Division, Nihon Ceratec Co., Ltd. Apr 2014 General Manager, MMC Business Division and Manufacturing Department, Nippon Fine Ceramics Co., Ltd. Jan 2019 Deputy General Manager, Technology Division, the Company Oct 2019 Executive Officer Oct 2020 Senior Executive Officer Jun 2023 Director, Senior Executive Officer Apr 2024 Director, Managing Executive Officer (current)
1968-01-27
Mayoha FUJITA
Full-time Audit & Supervisory Board Member
Apr 1982 Joined Sumitomo Trust and Banking Co., Ltd. May 2008 General Manager, Investment and Sales Promotion Department, same company Apr 2011 Executive Officer and General Manager, Investment and Sales Promotion Department, same company Apr 2012 Executive Officer and General Manager, Fukuoka Branch, Mitsui Sumitomo Trust Bank, Limited Apr 2014 Chairman and Representative Director, SBI Sumishin Net Bank, Ltd. Apr 2020 Audit & Supervisory Board Member, Mitsui Sumitomo Trust Panasonic Finance Co., Ltd. Jul 2023 Executive Staff, the Company Jun 2024 Full-time Audit & Supervisory Board Member (current)
1959-08-08
Kikuhiro SHINODA
Full-time Audit & Supervisory Board Member
Apr 1985 Joined the Company Apr 2012 General Manager, Finance Department Apr 2012 Executive Officer Jun 2025 Full-time Audit & Supervisory Board Member (current)
1961-09-12
Teruo KAWASHIMA
Director
Apr 1982 Joined Sumitomo Light Metal Industries, Ltd. Apr 2007 General Manager, Accounting Department, same company Apr 2013 Deputy General Manager, Administration Division, Executive Officer, same company Oct 2013 Executive Officer, UACJ Corporation Apr 2019 Managing Executive Officer, same company Jun 2019 Director, Managing Executive Officer, same company Apr 2022 Director and Executive Vice President, Executive Officer, same company Jun 2025 Executive Advisor, same company (current) Visiting Professor, Kyoto University Graduate School of Management (current) Jun 2026 Director, the Company (current)
1959-12-21
Hiroaki NISHI
Director
Oct 1983 Joined Tohmatsu Aoki & Co. (later Tohmatsu & Co.) Mar 1987 Registered as Certified Public Accountant Jun 1998 Partner, Tohmatsu & Co. Jul 2012 Partner, Deloitte Tohmatsu Financial Advisory Co., Ltd. Apr 2015 Partner, Deloitte Tohmatsu LLC Jun 2020 Established Hiroaki Nishi CPA Office, Director (current) Jun 2020 Audit & Supervisory Board Member, the Company Jun 2021 Registered as Certified Tax Accountant Jun 2021 Director, the Company (current)
1960-08-08
Kazuko OTANI
Director
Apr 1987 Joined Nihon Joho Service Co., Ltd. Apr 1996 General Manager, Legal Department, Japan Research Institute, Ltd. May 2016 Executive Officer, General Manager, Legal Department, same company Jun 2023 Director, the Company (current) Jun 2024 Outside Director, Asia Pile Holdings Corporation (current) Apr 2026 Executive Officer, Japan Research Institute, Ltd. (current)
1964-01-09
Emi NOGE
Director
Apr 1995 Appointed Public Prosecutor Mar 2006 Registered as Attorney at Law (Dai-Ichi Tokyo Bar Association) Mar 2006 Joined Fuji Partners Law Office Apr 2008 Partner Attorney, Fuji Partners Law Office (current) Apr 2012 Mediation Committee Member, Tokyo Labour Bureau Apr 2017 Conciliation Commissioner, Tokyo Summary Court (current) Jun 2018 Outside Audit & Supervisory Board Member, Suruga Bank Ltd. Jun 2019 Outside Director (Audit and Supervisory Committee Member), same bank Jun 2022 Auditor, The Japanese Circulation Society (current) Jun 2024 Director, the Company (current)
1970-01-17
Katsumi SUGIURA
Audit & Supervisory Board Member
Apr 1976 Joined Nagoya National Tax Bureau Jul 2007 Director, Hirosa Tax Office, Hiroshima National Tax Bureau Jul 2008 Director, Nagoya Higashi Tax Office, Nagoya National Tax Bureau Jul 2011 Director, Tsu Tax Office, same bureau Jul 2013 Director, Examination Department, same bureau Sep 2014 Registered as Certified Tax Accountant; established Katsumi Sugiura Tax Accountant Office, Director (current) Apr 2015 Visiting Professor, Nagoya University of Economics Graduate School Jun 2015 Outside Audit & Supervisory Board Member, KVK Corporation (current) Jun 2016 Audit & Supervisory Board Member, the Company (current)
1954-02-24
Kenji SASAKI
Audit & Supervisory Board Member
Sep 1983 Joined Ota Tetsuzo Certified Public Accountants Office Mar 1988 Registered as Certified Public Accountant May 2000 Partner, Ota Showa & Co. Jun 2006 Senior Partner, Shin Nihon & Co. Jul 2018 Established Kenji Sasaki CPA Office, Director (current) Jun 2019 Outside Audit & Supervisory Board Member, Kimura Kiko Co., Ltd.; Audit & Supervisory Board Member, the Company (current) Jun 2020 Representative Partner, dep.FAS Jun 2021 Outside Audit & Supervisory Board Member, OB System Co., Ltd. (current) Jun 2023 Outside Director, Kimura Kiko Co., Ltd. Feb 2025 Director, Sasaki International Administrative Scrivener Office (current)
1955-09-14
Kishiko IWAMOTO
Audit & Supervisory Board Member
Oct 1983 Joined Chuo Accounting Office Mar 1987 Registered as Certified Public Accountant Jul 1992 Registered as Certified Tax Accountant Aug 2007 Joined Tohmatsu & Co. Oct 2011 Established Iwamoto CPA Office, Director (current) Apr 2012 Joined Nexus Audit Corporation Apr 2012 Audit Committee Member, Kawanishi City, Hyogo Prefecture Jun 2021 Audit & Supervisory Board Member, the Company (current) Jul 2021 Representative Partner, Nexus Audit Corporation (current)
1957-08-27
Large Shareholding Reports
Sumitomo Mitsui Banking Corporation
2026-04-22
4.63%→4.63%
Annual report (as of 2026-03-31): 4.81%
Sumitomo Mitsui Banking Corporation
2026-03-06
4.28%→4.63%
Annual report (as of 2026-03-31): 4.81%
Sumitomo Mitsui Banking Corporation
2025-11-21
4.28%→4.28%
Annual report (as of 2026-03-31): 4.81%
Sumitomo Mitsui Trust Bank, Limited
2025-10-21
2.03%
Annual report (as of 2026-03-31): 2.28%
Sumitomo Mitsui Trust Bank, Limited
2025-09-19
2.03%→2.03%
Annual report (as of 2026-03-31): 2.28%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-21
Large Shareholding Report
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-21
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
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
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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