Overview
Textiles and Apparels

ONWARD HOLDINGS CO.,LTD.

Onward Holdings is a leading Japanese apparel group engaged in the planning, manufacturing, and sales of men's and women's clothing and other textile products under a broad portfolio of domestic and international brands. Beyond core apparel, the Group operates in cosmetics, ballet and dance goods (Chacott), wellness and resort facilities, pet fashion, and catalog gift businesses. The Group reports operations in two segments—Domestic and Overseas—with key domestic subsidiaries including Onward Kashiyama and WEGO, and overseas operations spanning China, Hong Kong, the UK, and the USA.

Market Cap
¥105B
US$667M
EV
¥133B
US$847M
Stock¥767▲+2.54%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.5
x
LTM EV/EBIT
11.1
x
LTM PER
9.6
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-8.0%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 26, 26Disappointing earnings results
2Oct 9, 26Q2 FY2027/02 earnings announced
MC → EV Bridge
105BUS$667MMarket Cap50.4BUS$322M+ Debt10.3BUS$65.7M− Cash11.8BUS$75.4M− Inv. Sec.133BUS$847MEV
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Performance & Balance
Revenue 5Y (¥B)
168US$1.07B'22/2176US$1.12B'23/2190US$1.21B'24/2208US$1.33B'25/2237US$1.51B'26/2
EBITDA 5Y (¥B)
3.53US$22.5M'22/29.58US$61.1M'23/215.2US$97.2M'24/214.5US$92.5M'25/216.1US$103M'26/2
Net Income 5Y (¥B)
8.57US$54.6M'22/23.06US$19.5M'23/26.61US$42.2M'24/28.52US$54.3M'25/210.1US$64.4M'26/2
Capital Structure
66%
34%
EquityD/E 0.52xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
29.3US$187M39.7US$253M'22/230.2US$193M32.0US$204M'23/230.7US$196M41.9US$268M'24/227.3US$174M52.1US$332M'25/233.2US$211M49.2US$314M'26/2
Shareholders
Top 10 hold 37.3%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
12.09%
2
Kashiyama Scholarship Foundation
6.39%
3
Custody Bank of Japan, Ltd. (Trust Account)
3.88%
4
ONWARD HOLDINGS CO.,LTD. Business Partners' Stock Ownership Association
3.83%
5
Nippon Life Insurance Company
3.42%
6
Anniversaire Holdings Co., Ltd.
1.96%
7
Morgan Stanley MUFG Securities Co., Ltd.
1.52%
8
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.49%
9
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
1.44%
10
Isetan Mitsukoshi Ltd.
1.31%
Management
10 officers
Michinobu HOGEN
Representative Director, President
May 2006 Joined Onward Holdings Co., Ltd. Mar 2007 Executive Officer, Onward Holdings Co., Ltd. Sep 2007 Executive Officer, Onward Kashiyama Co., Ltd. Mar 2011 Managing Executive Officer, Onward Holdings Co., Ltd.; Managing Executive Officer, Onward Kashiyama Co., Ltd. May 2014 Director, Onward Holdings Co., Ltd.; Director and Managing Executive Officer, Onward Kashiyama Co., Ltd. Sep 2014 Director and Senior Managing Executive Officer, Onward Kashiyama Co., Ltd. Mar 2015 Representative Director, President, Onward Holdings Co., Ltd. (current) Nov 2019 Representative Director, President, Onward Digital Lab Co., Ltd. Sep 2021 Director, Onward Kashiyama Co., Ltd. Mar 2022 Representative Director, President and Executive Officer, Onward Kashiyama Co., Ltd. (current)
1965-09-13
Daisuke IKEDA
Managing Director, in charge of Human Resources and General Affairs
Apr 1991 Joined Onward Holdings Co., Ltd. Mar 2018 Executive Officer, in charge of Corporate Planning and Legal Affairs, Onward Holdings Co., Ltd. Mar 2020 Executive Officer, in charge of Corporate Planning, Secretariat, Public Relations, Human Resources and General Affairs, Onward Holdings Co., Ltd. May 2020 Director, in charge of Corporate Planning, Human Resources and General Affairs, Onward Holdings Co., Ltd. Mar 2021 Director, in charge of Corporate Planning, Human Resources, General Affairs and Sustainable Management, Onward Holdings Co., Ltd. Sep 2021 Director, Onward Kashiyama Co., Ltd. Mar 2022 Director, in charge of Corporate Planning, Human Resources and General Affairs, Onward Holdings Co., Ltd.; Director and Managing Executive Officer, Onward Kashiyama Co., Ltd. (current) Mar 2023 Managing Director, in charge of Human Resources and General Affairs, Onward Holdings Co., Ltd. (current)
1968-03-22
Takehiro HIGUCHI
Managing Director, in charge of Marketing and Product
Apr 1990 Joined Onward Holdings Co., Ltd. Mar 2013 Executive Officer, Onward Kashiyama Co., Ltd. Sep 2016 Executive Officer, in charge of Marketing and Advertising, Onward Holdings Co., Ltd. Mar 2019 Managing Executive Officer, Onward Kashiyama Co., Ltd. Mar 2020 Managing Executive Officer, in charge of Advertising and Marketing, Onward Holdings Co., Ltd. Mar 2021 Managing Executive Officer, in charge of Planning, Production, Advertising and Marketing, Onward Holdings Co., Ltd.; Director and Managing Executive Officer, Onward Kashiyama Co., Ltd. (current) Mar 2024 Managing Executive Officer, in charge of Marketing, Technology and Product, Onward Holdings Co., Ltd. May 2025 Managing Director, in charge of Marketing and Product, Onward Holdings Co., Ltd. (current)
1965-10-27
Shohei YOSHIDA
Director, in charge of Finance, Accounting and IR; General Manager, Strategic Planning Office
Apr 2001 Joined Actee 21 Co., Ltd. Mar 2015 General Manager, Management Division, Onward Global Fashion Co., Ltd. Mar 2017 General Manager, Accounting and IR Department, Onward Holdings Co., Ltd. Mar 2020 Head, Accounting Shared Services Division, Onward Holdings Co., Ltd. Mar 2024 Executive Officer, General Manager, Finance, Accounting and IR Office, Onward Holdings Co., Ltd.; Executive Officer, Onward Kashiyama Co., Ltd. May 2024 Director, in charge of Finance, Accounting and IR, Onward Holdings Co., Ltd.; Director and Executive Officer, Onward Kashiyama Co., Ltd. (current) Oct 2024 Director, in charge of Finance, Accounting and IR, and General Manager, Strategic Planning Office, Onward Holdings Co., Ltd. (current)
1977-03-29
Hirofumi NISHIMORI
Full-time Audit & Supervisory Board Member
Apr 1991 Joined Onward Holdings Co., Ltd. Mar 2015 General Manager, E-Business Division, Onward Kashiyama Co., Ltd. Jun 2020 Omnichannel Manager and General Manager, President's Office, Onward Holdings Co., Ltd. Mar 2022 Representative Director, President, Onward Digital Lab Co., Ltd. Mar 2023 Executive Officer, General Manager, Secretariat and Public Relations Office, and General Manager, Sustainable Management Promotion Office, Onward Holdings Co., Ltd.; Executive Officer and General Manager, Sustainable Management Group, Onward Kashiyama Co., Ltd. May 2026 Audit & Supervisory Board Member, Onward Holdings Co., Ltd. (current) Audit & Supervisory Board Member, Onward Kashiyama Co., Ltd. (current)
1967-05-30
Akira KAWAMOTO
Director
Apr 1981 Joined the Ministry of International Trade and Industry (now the Ministry of Economy, Trade and Industry) Aug 1995 Organisation for Economic Co-operation and Development (OECD), Paris Jan 2001 Director, Electricity Market Development Division, Electricity and Gas Market Policy Department, Agency for Natural Resources and Energy Jul 2009 Councillor, Secretariat of the Minister, Economic and Industrial Policy Bureau, Ministry of Economy, Trade and Industry Oct 2012 Senior Partner, Asparagus Group Co., Ltd. Apr 2013 Professor, Faculty of Economics, Keio University (current) Mar 2014 Outside Director (Audit and Supervisory Committee Member), Future Corporation (current) May 2018 Director (Non-Executive), Onward Holdings Co., Ltd. (current) Jan 2023 Founding Partner, Asparagus Group Co., Ltd. Jul 2023 Vice Chairman and Founding Partner, Asparagus Group Co., Ltd. (current)
1958-08-19
Yoshie KOMURO
Director
Apr 1999 Joined Shiseido Company, Limited Jul 2006 Representative Director, President, Work-Life Balance Co., Ltd. (current) Apr 2008 Member, Subcommittee on Harmonization, Coordination and Evaluation of Work and Life, Cabinet Office Oct 2009 Visiting Professor, Kanazawa Institute of Technology Graduate School (current) Apr 2013 Member, Council for Children and Child-Rearing, Cabinet Office Sep 2014 Private Sector Member, Council on Competitiveness Feb 2015 Member, Central Council for Education, Ministry of Education, Culture, Sports, Science and Technology Jun 2017 Outside Director, Kampo Life Insurance Co., Ltd. May 2019 Director (Non-Executive), Onward Holdings Co., Ltd. (current) Apr 2020 Outside Director, Red Fox Co., Ltd. Sep 2020 Member, Expert Panel on Accelerating Work Style Reform, Ministry of the Environment Nov 2020 Outside Director, ClipLine Co., Ltd. (current) Dec 2020 Outside Director, Pacific Consultants Co., Ltd. Jun 2022 Outside Director, LITALICO Inc. (current) Jan 2023 Board Member, Japan Women's University (current) May 2023 Member, Committee on Inter-Shift Interval Requirements, Ministry of Health, Labour and Welfare (current) Apr 2025 Member, Children and Families Council, Children and Families Agency (current)
1975-04-16
Nobuyoshi ONOGI
Full-time Audit & Supervisory Board Member
Apr 1992 Joined Onward Marine Co., Ltd. Mar 2018 General Manager, Management Division, Onward Resort & Golf Co., Ltd. Sep 2019 General Manager, Internal Audit Office, Onward Holdings Co., Ltd. May 2022 Audit & Supervisory Board Member, Onward Holdings Co., Ltd. (current) Audit & Supervisory Board Member, Onward Kashiyama Co., Ltd. (current)
1964-05-10
Tatsu UMETSU
Audit & Supervisory Board Member
Apr 1991 Registered as attorney-at-law (Second Tokyo Bar Association); joined Anderson Mori & Tomotsune, formerly Anderson Mori & Co. Jan 2000 Partner, Anderson Mori & Tomotsune Gaikokuho Kyodo Jigyo Horitsu Jimusho (formerly Anderson Mori & Co.) Sep 2017 Director, LGBTQ and Allies Lawyers' Network (LLAN) (current) May 2020 Audit & Supervisory Board Member (Non-Executive), Onward Holdings Co., Ltd. (current) Apr 2023 Managing Partner, Anderson Mori & Tomotsune Gaikokuho Kyodo Jigyo Horitsu Jimusho (current)
1965-04-07
Mitsuyo KUSANO
Audit & Supervisory Board Member
Apr 1989 Joined Nippon Hoso Kyokai (NHK) Jul 1997 Representative Director, Kusano Jimusho Co., Ltd. (current) Apr 2019 Member, Social Infrastructure Development Council, Ministry of Land, Infrastructure, Transport and Tourism Jun 2019 Vice President, Japan Sports Association Apr 2020 Director, Forum for Humanities and Society, General Incorporated Association (current) May 2020 Audit & Supervisory Board Member (Non-Executive), Onward Holdings Co., Ltd. (current) Jun 2023 Auditor, Japan Sports Association; Director, Japan Tennis Association (current) Jun 2024 Trustee, Japan AED Foundation (current) Auditor (Non-Executive), Gifu Shinkin Bank (current)
1967-02-04
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-14
Semi-Annual Securities Report
Period: Mar 2026 – Feb 2027
TDnet
2026-10-08
Q2 Earnings Flash
FY ending Feb 2027
TDnet
2026-07-09
Q1 Earnings Flash
FY ending Feb 2027
EDINET
2026-05-27
Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2026-01-08
Q3 Earnings Flash
FY ending Feb 2026
EDINET
2025-10-14
Semi-Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2025-07-03
Q1 Earnings Flash
FY ending Feb 2026
EDINET
2025-05-23
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-09
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-11
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
TDnet
2024-07-04
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-05-24
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-12
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-13
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-26
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-13
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINETAmended
2023-01-13
Amended Quarterly Securities Report
Period: Sep 2021 – Nov 2021
EDINET
2022-10-14
Quarterly Securities Report
EDINET
2022-07-14
Quarterly Securities Report
EDINET
2022-05-27
Annual Securities Report
EDINET
2022-01-14
Quarterly Securities Report
EDINET
2021-10-14
Quarterly Securities Report
EDINET
2021-07-14
Quarterly Securities Report
EDINET
2021-05-28
Annual Securities Report
EDINET
2021-01-14
Quarterly Securities Report
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