Overview
Wholesale Trade

Sangetsu Corporation

Sangetsu Corporation is Japan's leading interior materials distributor, offering a comprehensive portfolio of wallcoverings, flooring, fabrics (curtains and upholstery), ceramic tiles, rugs, and related interior products for both residential and commercial applications. The company serves customers from design and procurement through to installation, covering new construction, renovation, and remodeling projects across housing and non-housing sectors. Its competitive strengths lie in its extensive product lineup, nationwide showroom and distribution network, and growing international presence across the U.S., Southeast Asia, China, and Hong Kong.

Market Cap
¥188B
US$1.20B
EV
¥160B
US$1.02B
Stock¥3,190▲+0.31%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.3
x
LTM EV/EBIT
7.7
x
LTM PER
11.3
x
LTM PBR
1.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-18.2%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
188BUS$1.20BMarket Cap14.3BUS$91.3M+ Debt31.8BUS$202M− Cash11.3BUS$72.2M− Inv. Sec.0.72BUS$4.59M+ NCI160BUS$1.02BEV
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Performance & Balance
Revenue 5Y (¥B)
149US$953M'22/3176US$1.12B'23/3190US$1.21B'24/3200US$1.28B'25/3206US$1.32B'26/3
EBITDA 5Y (¥B)
11.6US$74.1M'22/323.9US$152M'23/322.3US$142M'24/321.4US$136M'25/323.7US$151M'26/3
Net Income 5Y (¥B)
0.28US$1.76M'22/314.0US$89.3M'23/314.3US$91.1M'24/312.6US$80.0M'25/314.6US$93.4M'26/3
Capital Structure
89%
EquityD/E 0.12xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
27.0US$172M10.1US$64.4M'22/331.0US$198M10.5US$66.7M'23/333.2US$212M7.48US$47.7M'24/341.9US$267M12.8US$81.5M'25/346.2US$294M14.5US$92.7M'26/3
Shareholders
Top 10 hold 39.8%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.94%
2
Custody Bank of Japan, Ltd. (Trust Account)
5.29%
3
Yoshio HIBI
2.90%
4
Masae MIWA
2.89%
5
Sangetsu Kyoei-kai
2.86%
6
Tozo HIBI
2.82%
7
The Ogaki Kyoritsu Bank,Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
2.44%
8
Custody Bank of Japan, Ltd. (Money Trust Taxable Account)
1.99%
9
Mayumi HIBI
1.97%
10
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
1.71%
Management
7 officers
Yasumasa KONDO
Representative Director, President and Executive Officer; General Manager, Overseas Business Division
Apr 1986 Joined Mitsubishi Corporation Apr 2010 Seconded to Mitsubishi Corporation Plastics Ltd.; Executive Officer Apr 2013 General Manager, Synthetic Resins Department and Vinyl Chloride Department, Mitsubishi Corporation Apr 2016 Business Investment in Chemicals Group, Mitsubishi Corporation Apr 2017 Managing Executive Officer, Chuo Kagaku Co., Ltd. Apr 2018 Representative Director, President and Executive Officer, Chuo Kagaku Co., Ltd. Dec 2022 Joined the Company as Executive Officer in charge of President's Office Apr 2023 Executive Officer in charge of Administration and Cybersecurity Jun 2023 Director, Executive Officer in charge of Administration and Cybersecurity Jul 2023 Director, Managing Executive Officer; General Manager, Corporate Division; in charge of Space Planning Division and Cybersecurity Apr 2024 Representative Director, President and Executive Officer Jul 2024 Representative Director, President and Executive Officer; General Manager, Business Division Apr 2025 Representative Director, President and Executive Officer Apr 2026 Representative Director, President and Executive Officer; General Manager, Overseas Business Division (current)
1963-12-22
Yutaka MATSUO
Director, Managing Executive Officer; General Manager, Business Division; in charge of Exterior Business and Corporate Strategy
Apr 1990 Joined the Company Apr 2018 General Manager, Hokkaido-Kitakanto Branch Apr 2020 General Manager, Kansai Branch Jul 2023 Executive Officer; Business Unit Manager, West Japan Business Unit, Business Division; General Manager, Kansai Branch Apr 2024 Executive Officer; General Manager, Logistics Division Apr 2025 Executive Officer; General Manager, Business Division; in charge of Exterior Business and Comprehensive Space Business Jun 2025 Director, Executive Officer; General Manager, Business Division; in charge of Exterior Business and Comprehensive Space Business Apr 2026 Director, Managing Executive Officer; General Manager, Business Division; in charge of Exterior Business and Corporate Strategy (current)
1966-09-10
Michiyo HAMADA
Director (Audit and Supervisory Committee Member)
Apr 1985 Professor, Faculty of Law, Nagoya University Apr 1999 Professor, Graduate School of Law, Nagoya University Apr 2008 Dean, Nagoya University Law School Apr 2009 Professor Emeritus, Nagoya University (current) Apr 2009 Member, Japan Fair Trade Commission Jun 2014 Outside Audit & Supervisory Board Member, Metropolitan Expressway Company Limited Jun 2014 Outside Audit & Supervisory Board Member, Toho Gas Co., Ltd. Jun 2015 Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2016 Outside Director, Aisin Corporation Jun 2020 Outside Director, Toho Gas Co., Ltd. (scheduled to retire Jun 2026)
1947-11-25
Kenichi UDAGAWA
Director (Audit and Supervisory Committee Member)
Jun 2004 Director, Tosoh Corporation Jun 2008 Managing Director, Tosoh Corporation Jun 2009 Representative Director, President, Tosoh Corporation Mar 2016 Director, Advisor, Tosoh Corporation Jun 2016 Outside Director, The Yamaguchi Bank, Ltd. Jun 2018 Honorary Advisor, Tosoh Corporation Jun 2019 Director (Audit and Supervisory Committee Member) of the Company (current)
1949-04-05
Osamu TERADA
Director (Audit and Supervisory Committee Member)
Jun 2005 Executive Officer, Shimizu Corporation Jun 2010 Managing Executive Officer, Shimizu Corporation Apr 2013 Senior Managing Executive Officer, Shimizu Corporation Jun 2014 Representative Director, Executive Vice President, Shimizu Corporation Jun 2020 Senior Advisor, Shimizu Corporation Jun 2021 Director (Audit and Supervisory Committee Member) of the Company (current)
1953-04-07
Aki OGANE
Director (Audit and Supervisory Committee Member)
Apr 1987 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2010 Seconded to Daiwa Net Bank Preparation Co., Ltd.; General Manager, Internal Audit Department Apr 2011 Director, Daiwa Next Bank, Ltd. Mar 2012 Retired as Director, Daiwa Next Bank, Ltd. Mar 2012 Senior Examiner, Audit Department, Sumitomo Mitsui Banking Corporation Mar 2019 Retired from Sumitomo Mitsui Banking Corporation Sep 2021 Director, OMA Co., Ltd. Jun 2023 Retired as Director, OMA Co., Ltd. Jun 2024 Director (Audit and Supervisory Committee Member) of the Company (current)
1963-05-23
Yosuke MINE
Director (Full-time Audit and Supervisory Committee Member)
Apr 1984 Joined the Company Jul 2014 General Manager, Chugoku-Shikoku Branch Apr 2016 Executive Officer; General Manager, Chugoku-Shikoku Branch Apr 2017 Executive Officer; Deputy General Manager, Logistics Division Apr 2019 Executive Officer; General Manager, Logistics Division Jul 2023 Managing Executive Officer; General Manager, Logistics Division Apr 2024 Managing Executive Officer in charge of Logistics Division Jun 2024 Director (Full-time Audit and Supervisory Committee Member) of the Company (current)
1959-12-10
Large Shareholding Reports
Silchester International Investors LLP
2022-11-18
6.05%→4.96%
Silchester International Investors LLP
2022-11-09
7.16%→6.05%
Silchester International Investors LLP
2022-10-11
8.22%→7.16%
Silchester International Investors LLP
2022-08-26
9.26%→8.22%
Silchester International Investors LLP
2022-07-11
10.32%→9.26%
Silchester International Investors LLP
2022-06-23
11.36%→10.32%
Silchester International Investors LLP
2022-03-24
12.38%→11.36%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-06-16
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2026-06-16
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
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-17
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
TDnet
2025-02-07
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
TDnet
2024-08-02
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-19
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-21
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-18
Large Shareholding Report
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-11-09
Large Shareholding Report
EDINET
2022-10-11
Large Shareholding Report
EDINET
2022-08-26
Large Shareholding Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-07-11
Large Shareholding Report
EDINET
2022-06-23
Large Shareholding Report
EDINET
2022-06-22
Annual Securities Report
EDINET
2022-03-24
Large Shareholding Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
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