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Overview

Metal Products

NEPON Inc.

NEPON Inc. manufactures and sells thermal equipment and sanitary equipment, along with related installation work and after-sales services. Its thermal equipment segment covers agricultural and horticultural products such as greenhouse heaters (Hausu Kaonki), heat pumps (Dare demo Heatpon), hot water boilers, environmental control systems, and ICT cloud services for agriculture (Chabu-Dai), as well as general-purpose products including industrial warm-air heaters, boilers, and coin-operated shower units. Its sanitary equipment segment offers foam-flush and water-flush simplified toilets (Pearl Toilet, Prettyna), warm water toilet seats, and related civil engineering works.

Market Cap

¥—B

Stock¥704▼-1.40%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

—

LTM EV/EBIT

—

LTM PER

—

LTM PBR

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Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-84.3%pt

Oct 24, 25 – Sep 30, 26StockTOPIX

Stock data unavailable

Delisted from the Tokyo Stock Exchange on 2026-10-01; now listed only on FSE, which is not distributed via J-Quants (JPX). The chart runs to the last TSE trading day. Current stock price, market cap, and EV-based multiples are not available.

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

57%

43%

EquityD/E 0.76xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 54.8%

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

Haruhisa FUKUDA

12.61%

SATO SHO-JI CORPORATION

12.53%

Nepon Kyoei-kai

8.39%

Seiji SUMIDA

5.02%

Sumitomo Mitsui Banking Corporation

4.98%

Nikko Tsushin Co., Ltd.

2.56%

Aiko SUZUKI

2.49%

NEPON Inc. Employee Stock Ownership Association

2.43%

Tokyo Soft Co., Ltd.

2.35%

Akira NAI

1.45%

Management

8 officers

Haruhisa FUKUDA

Representative Director, President and CEO

Apr 1998 Joined Fuji Electric Co., Ltd. Mar 2000 Joined the Company Jun 2000 Director, Head of Technology Division Oct 2002 Senior Managing Director Jun 2006 Representative Director, President Jul 2006 Representative Director, President and Representative Executive Officer Jun 2023 Representative Director, President and CEO (current)

1971-07-09

Takeshi KAWAMOTO

Director, Vice President and COO, General Manager of Sales & Service Division

Apr 1992 Joined the Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Apr 2004 McKinsey & Company, Inc. Japan Jul 2008 Joined Tokyo Electron Limited Apr 2014 Director and General Manager of Corporate Strategy Division, Via Mechanics, Ltd. Dec 2014 Vice President and General Manager of Corporate Strategy Division, Via Mechanics, Ltd. Apr 2018 Director, AlixPartners Mar 2021 Partner, Boston Consulting Group Jul 2022 Managing Director and Partner, Boston Consulting Group Feb 2023 Advisor to the Company Jun 2023 Director, Vice President and COO, General Manager of IoT Business Division; Director, Vice President and COO, General Manager of Sales & Service Division (current) Apr 2024

1968-01-16

Kenjiro HORI

Director, General Manager of Administration Division

Apr 1991 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2017 Branch Manager, Nippori Branch, Sumitomo Mitsui Banking Corporation Apr 2022 Deputy General Manager, Market & Settlement Department, Sumitomo Mitsui Banking Corporation Jan 2023 Advisor to the Company Apr 2023 General Manager of Administration Division Jun 2023 Director, General Manager of Administration Division (current)

1968-02-02

Kyoichi TAN

Director, General Manager of Production Division

Apr 1985 Joined the Company Jul 2014 Executive Officer, Overseas Base Preparation Office Apr 2015 Executive Officer, General Manager of Overseas Business Division, and Representative Director, President of NEPON (Thailand) Co., Ltd. Apr 2022 Executive Officer, Division Manager of Production Division, and Representative Director, President of NEPON (Thailand) Co., Ltd. Nov 2022 Executive Officer, Division Manager of Production Division Apr 2024 General Manager of Production Division Jun 2024 Director, General Manager of Production Division (current)

1962-07-05

Ryuji YANAGIDA

Outside Director

Jun 2000 Joined Sato Shoji Co., Ltd. Apr 2011 Manager, Kanagawa Branch, Sato Shoji Co., Ltd. Jun 2015 Outside Director of the Company (current) Apr 2019 General Manager, Comprehensive Division, Sato Shoji Co., Ltd. Jun 2022 Executive Officer, Sato Shoji Co., Ltd. Apr 2024 Senior Executive Officer, Sato Shoji Co., Ltd. Apr 2025 Managing Executive Officer, Sato Shoji Co., Ltd. (current)

1969-12-02

Michiro BAN

Full-time Corporate Auditor

Apr 1989 Joined the Company Apr 2017 General Manager, Sales Promotion Department, Sales Division Apr 2018 General Manager, Sales Division Apr 2019 Deputy General Manager, Sales Division Apr 2022 Deputy General Manager, Service Center, Sales Division Apr 2023 Head of West Japan Group, Sales Division Apr 2024 Senior Expert, Sales Administration Department, Sales & Service Division Jun 2024 Full-time Corporate Auditor (current)

1965-02-12

Kohei OKAWA

Corporate Auditor

Apr 1987 Registered with Daiichi Tokyo Bar Association; joined Kajitani Law Office (now Kajitani Sogo Law Office) Apr 1994 Joined Okawa & Nagatomo Law Office (now Okawa Law Office) Jun 2012 Outside Corporate Auditor of the Company (current) Dec 2015 Outside Director (Audit and Supervisory Committee Member), e-Guardian Inc. (retired Dec 2023) Jan 2016 Representative, Okawa Law Office (current)

1960-09-14

Akihiro KAN

Corporate Auditor

Apr 1982 Joined the National Tax Agency Jul 2018 Director, Izumiotsu Tax Office Jul 2019 Chief, Consumption Tax Section, Second Taxation Department, Tokyo Regional Taxation Bureau Jul 2020 Chief, Taxation Coordination Section, First Taxation Department, Tokyo Regional Taxation Bureau Jul 2021 Chief, General Affairs Section, General Affairs Department, Tokyo Regional Taxation Bureau Jul 2022 Director, Taxation Department, Sapporo Regional Taxation Bureau Jul 2023 Director, Second Taxation Department, Tokyo Regional Taxation Bureau Aug 2024 Partner Certified Tax Accountant, Kagayaki Tax Accounting Corporation (current) Jun 2025 Outside Corporate Auditor of the Company (current)

1963-05-12

Large Shareholding Reports

Haruhisa FUKUDA

2026-02-20

12.12%→12.54%

Correction filing (name/detail fix only) — ratio carried over from the original filing

Annual report (as of 2026-03-31): 12.61%

Haruhisa FUKUDA

2026-02-19

12.12%→12.54%

Annual report (as of 2026-03-31): 12.61%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-06

Q1 Earnings Flash

FY ending Mar 2027

NEPON Inc.

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NEPON Inc.

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