Overview
Wholesale Trade

Takachiho Co.,Ltd.

Takachiho is a Japan-based souvenir wholesale and retail company primarily serving tourist destinations, JR stations, highway service areas, and hotel accommodations across Japan. The company operates six business segments: souvenir wholesale, souvenir retail (through directly managed stores including the 'Shunsui' brand shops), souvenir food manufacturing (primarily cookies), hot spring bath facilities ('Mamejima Yuttari-en' in Nagano), real estate rental (Shopping Town Aozora in Nagano), and outdoor/fishing goods retail. Its competitive strength lies in its regional network of subsidiaries and long-standing relationships with tourism industry clients across multiple prefectures.

Market Cap
¥2.56B
US$16.3M
EV
¥2.23B
US$14.2M
Stock¥3,655▲+1.67%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.3
x
LTM EV/EBIT
5.3
x
LTM PER
9.0
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-27.9%pt
100
Oct 23, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
2.56BUS$16.3MMarket Cap1.05BUS$6.71M+ Debt1.02BUS$6.54M− Cash0.36BUS$2.27M− Inv. Sec.2.23BUS$14.2MEV
AI Briefing
Nagano-based souvenir wholesaler/retailer (Shunsui shops) spanning JR stations, highway stops and tourist sites, with side bets in hot springs, real estate and outdoor goods. FY26/3 revenue ¥9.7B, OP ¥0.5B (5.0% margin) — steady top-line growth since FY23/3 but margins flat; EV/EBITDA fwd ~3.7x on thin ¥0.6B EBITDA base. Fragmented, financial-sponsor-heavy cap table (JAIC funds, Governance Partners) alongside founder-CEO Kubota's 6.75% stake points to latent consolidation/governance overhang rather than a clean growth story.
Performance & Balance
Revenue 5Y (¥B)
5.25US$33.5M'22/37.33US$46.8M'23/38.02US$51.1M'24/38.54US$54.4M'25/39.69US$61.8M'26/3
EBITDA 5Y (¥B)
-0.11-US$0.68M'22/30.42US$2.70M'23/30.52US$3.34M'24/30.52US$3.32M'25/30.58US$3.67M'26/3
Net Income 5Y (¥B)
-0.15-US$0.98M'22/30.46US$2.93M'23/30.42US$2.70M'24/30.31US$1.96M'25/30.33US$2.09M'26/3
Capital Structure
71%
29%
EquityD/E 0.40xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.78US$4.96M1.85US$11.8M'22/30.96US$6.14M1.67US$10.6M'23/30.89US$5.67M1.30US$8.32M'24/30.98US$6.28M0.97US$6.21M'25/31.21US$7.75M0.73US$4.63M'26/3
Shareholders
Top 10 hold 48.4%
1
JAIC Specialty Fund Investment Limited Partnership
8.57%
2
Kazuomi KUBOTA
6.75%
3
Governance Partners Investment Limited Partnership
5.87%
4
JAIC Partners Fund Investment Limited Partnership
4.57%
5
Hachijuni Nagano Bank,Ltd.
4.44%
6
Ueno Investment Co., Ltd.
4.28%
7
Satoshi MIYAO
3.78%
8
Yuko KUBOTA
3.53%
9
Nagano Shinkin Bank
3.43%
10
Masazumi TOKORO
3.14%
Management
8 officers
Kazuomi KUBOTA
Representative Director, President, General Manager of Corporate Planning Headquarters
Apr 2008 Joined the Company Jan 2015 Manager, Management Planning Section Apr 2016 General Manager, Marketing Department Jun 2016 Director, General Manager, Marketing Department Jan 2017 Representative Director, President (current) Jun 2025 General Manager, Corporate Planning Headquarters (current)
1982-07-05
Satoshi MIYAO
Senior Managing Director, General Manager of Sales Headquarters, General Manager of Manufacturing Department
Apr 1996 Joined the Company Apr 2010 Manager, Sales Promotion Group Apr 2013 Group Leader, Sales Strategy Office Jan 2015 General Manager, Marketing Department and General Manager, Manufacturing Department Apr 2016 General Manager, Sales Headquarters and General Manager, Manufacturing Department Jun 2016 Director, Deputy General Manager, Sales Headquarters and General Manager, Manufacturing Department Jan 2017 Managing Director, General Manager, Sales Headquarters, General Manager, Marketing Department and General Manager, Manufacturing Department Jun 2024 General Manager, Sales Promotion Department and General Manager, Life & Leisure Department Jun 2025 Senior Managing Director, General Manager, Sales Headquarters, General Manager, Sales Promotion Department and General Manager, Manufacturing Department (current) Jan 2026 General Manager, Sales Headquarters and General Manager, Manufacturing Department (current)
1973-12-26
Chihiro TERAJIMA
Director, General Manager of Administration Headquarters, General Manager of General Affairs Department
Apr 1991 Joined The Hachijuni Bank, Ltd. Feb 2012 Group Leader, Loan Department, the same bank Jun 2016 Branch Manager, Fujimi Branch, the same bank Jun 2018 Deputy General Manager, Loan Department, the same bank Feb 2020 Branch Manager, Nozawa Branch, the same bank Feb 2022 General Manager, Corporate Planning Department, the Company Oct 2022 Executive Officer, General Manager, Corporate Planning Department, the Company Feb 2023 Executive Officer, Deputy General Manager, Administration Headquarters and General Manager, Corporate Planning Department, the Company Jun 2023 Director, the Company (current) Jun 2023 General Manager, Administration Headquarters and General Manager, General Affairs Department (current)
1966-07-29
Yoshiyoshi YUHARA
Outside Director
Apr 1978 Joined The Hachijuni Bank, Ltd. Feb 2000 Branch Manager, Amogiri Branch, the same bank Sep 2005 Branch Manager, Iwamurata Branch, the same bank Feb 2008 Branch Manager, Takada Branch, the same bank May 2009 Group Leader, Planning Department, the same bank Oct 2009 Attached to Human Resources Department, the same bank Jun 2010 Retired from The Hachijuni Bank, Ltd. Jun 2010 Managing Director, Hachijuni Culture Foundation Jun 2019 Retired from the foundation Jun 2020 Outside Director, the Company (current)
1955-08-12
Akiko YAMADA
Outside Director
Apr 1991 Joined Kanto-Shinetsu Regional Taxation Bureau Jul 1991 Assigned to Corporate Taxation Division, Kasukabe Tax Office; subsequently engaged in corporate taxation work at various tax offices Dec 2016 Retired from Ueda Tax Office Apr 2017 Registered as Certified Tax Accountant; joined Onishi Tax Accountant Office Jun 2018 Established Tsubaki Tax Accounting Corporation; Representative Partner (current) Jun 2023 Outside Director, the Company (current)
1968-09-15
Masazumi TOKORO
Full-time Audit & Supervisory Board Member
Jan 1990 Joined the Company Jun 1997 Manager, Planning and Promotion Group, Distribution Business Division Apr 2001 Manager, Corporate Planning Department Apr 2003 Manager, Business Development Department Apr 2016 Deputy General Manager, General Affairs Department Jan 2017 General Manager, Corporate Planning Department and Group Leader, Internal Audit Group Jun 2020 Full-time Audit & Supervisory Board Member (current)
1964-04-24
Ryo TAKIZAWA
Outside Audit & Supervisory Board Member
Apr 1977 Joined The Hachijuni Bank, Ltd. Jun 2000 Branch Manager, Minowa Branch, the same bank Feb 2002 General Manager, Matsumoto Sales Department No. 1, the same bank Jun 2003 General Manager, Financial Markets Department, the same bank Jun 2006 Executive Officer, Branch Manager, Ina Branch, the same bank Jun 2009 Executive Officer, General Manager, Internal Audit Department, the same bank Jun 2010 Full-time Audit & Supervisory Board Member, the same bank Jun 2014 Retired as Full-time Audit & Supervisory Board Member, the same bank Jun 2014 Full-time Audit & Supervisory Board Member, Nagano Asahi Broadcasting Co., Ltd. Jun 2020 Non-full-time Advisor, the same company Jun 2020 Non-full-time Audit & Supervisory Board Member, Nikkoku Seifun Co., Ltd. (current) Jun 2020 Outside Audit & Supervisory Board Member, the Company (current) Jun 2021 Retired as Non-full-time Advisor, Nagano Asahi Broadcasting Co., Ltd.
1955-02-15
Yukihiko MIYAZAWA
Outside Audit & Supervisory Board Member
Apr 1988 Joined Nagano Shinkin Bank Feb 2009 Branch Manager, Furusato Branch, the same bank Aug 2016 Branch Manager, Suzaka Branch, the same bank Jun 2018 Executive Officer, Branch Manager, Suzaka Branch, the same bank Jun 2021 Full-time Executive Director, General Manager, Head Office Sales Department, the same bank Jul 2021 Full-time Executive Director, General Manager, Business Promotion Department, the same bank (current) Jun 2024 Outside Audit & Supervisory Board Member, the Company (current)
1965-01-05
Large Shareholding Reports
Japan Asia Investment Co., Ltd.
2025-03-26
2.89%→9.76%
Governance Partners Co., Ltd.
2025-02-14
12.11%→9.22%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Governance Partners Co., Ltd.
2025-02-12
12.11%→9.22%
Governance Partners Co., Ltd.
2024-07-11
11.09%→12.11%
Governance Partners Co., Ltd.
2024-07-11
9.76%→11.09%
Governance Partners Co., Ltd.
2024-07-04
11.09%→12.11%
Governance Partners Inc.
2024-06-06
9.76%→11.09%
Governance Partners Inc.
2024-05-28
8.18%→9.76%
Governance Partners Inc.
2024-05-21
6.39%→8.18%
Governance Partners Inc.
2024-05-14
5.36%→6.39%
Governance Partners Inc.
2024-05-08
5.36%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-12
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-13
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-03-26
Large Shareholding Report
EDINET
2025-03-04
Securities Registration Statement
EDINETAmended
2025-02-14
Change Report
EDINET
2025-02-12
Large Shareholding Report
TDnet
2025-02-12
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-13
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-07-11
Change Report
EDINET
2024-07-11
Large Shareholding Report
EDINET
2024-07-04
Large Shareholding Report
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-06
Large Shareholding Report
EDINET
2024-05-28
Large Shareholding Report
EDINET
2024-05-21
Large Shareholding Report
EDINET
2024-05-14
Large Shareholding Report
EDINET
2024-05-08
Large Shareholding Report
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
2023-08-14
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
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
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