Overview
Securities and Commodities Futures

Marusan Securities Co.,Ltd.

Marusan Securities Co., Ltd. is a Japan-based securities firm primarily engaged in investment and financial services centered on securities products. The company offers brokerage services including the purchase and sale of securities, underwriting and selling of securities, and other financial instruments transactions. As of April 2025, the company has also registered as an investment management and investment advisory/agency business under the Financial Instruments and Exchange Act.

Market Cap
¥78.0B
US$497M
EV
¥—B
Stock¥1,175▲+0.43%
US$1 = ¥156.80 (2026-10-23)
ROE
9.5%
* LTM NI / end-of-period equity
PBR
1.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+4.4%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
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Performance & Balance
Revenue 5Y (¥B)
18.7US$119M'22/314.9US$95.2M'23/318.6US$119M'24/318.8US$120M'25/321.7US$139M'26/3
EBITDA 5Y (¥B)
3.71US$23.7M'22/30.90US$5.72M'23/34.15US$26.4M'24/34.03US$25.7M'25/35.90US$37.6M'26/3
Net Income 5Y (¥B)
2.83US$18.0M'22/30.78US$4.96M'23/32.93US$18.7M'24/33.79US$24.2M'25/35.01US$32.0M'26/3
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
37.2US$237M2.75US$17.5M'22/341.9US$267M2.75US$17.5M'23/354.7US$349M2.70US$17.2M'24/345.0US$287M1.78US$11.4M'25/353.0US$338M0.90US$5.74M'26/3
Shareholders
Top 10 hold 31.2%
1
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
7.89%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
7.83%
3
Nagao Natural Environment Foundation
7.16%
4
Mitsubishi UFJ Trust and Banking Corporation (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
2.54%
5
Mizuho Bank, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
1.42%
6
Aiichiro NAGAO
1.36%
7
Custody Bank of Japan, Ltd. (Trust Account)
0.88%
8
STATE STREET BANK AND TRUST COMPANY 505025 (Standing Proxy: Mizuho Bank, Ltd.)
0.84%
9
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
0.70%
10
Marusan Securities Co.,Ltd. Employee Stock Ownership Association
0.61%
Management
11 officers
Minoru KIKUCHI
Representative Director, President
Apr 1986 Joined the Company Apr 2003 General Manager, Personnel Department Feb 2010 General Manager, Investment Trust Department Jun 2013 Executive Officer; General Manager, Investment Trust Department Apr 2015 Managing Executive Officer; General Manager, Investment Trust Department Jun 2017 Representative Director, Executive Vice President Aug 2017 Representative Director, Executive Vice President; General Manager, Sales Division May 2018 Representative Director, Executive Vice President Jun 2018 Representative Director, President (current)
1963-12-19
Makoto HATTORI
Representative Director, Senior Managing Director; General Manager, Sales Division; General Manager, Equity Division; General Manager, Financial Consultant Department No. 1; General Manager, Financial Consultant Department No. 2; General Manager, Financial Consultant Department No. 3; General Manager, Consultant Support Department
Apr 1990 Joined the Company Aug 2004 General Manager, Numata Branch Feb 2006 Responsible for Western Region, Sales Division Feb 2008 General Manager, Ikebukuro Branch Feb 2012 General Manager, Equity Department May 2014 General Manager, Equity Division; General Manager, Equity Department Jun 2014 Executive Officer; General Manager, Equity Division; General Manager, Equity Department and Equity Operations Department Feb 2018 Executive Officer; General Manager, Equity Division; General Manager, Equity Department, Equity Operations Department and Investment Information Department Apr 2018 Managing Executive Officer; General Manager, Equity Division; General Manager, Equity Department, Equity Operations Department and Investment Information Department Apr 2020 Senior Managing Executive Officer; Responsible for Sales Division; General Manager, Equity Division; General Manager, Equity Department, Equity Operations Department and Investment Information Department Jun 2020 Representative Director, Senior Managing Director; Responsible for Sales Division; General Manager, Equity Division; General Manager, Equity Department, Equity Operations Department and Investment Information Department Aug 2020 Representative Director, Senior Managing Director; Responsible for Sales Division; General Manager, Equity Division Aug 2021 Representative Director, Senior Managing Director; General Manager, Sales Division and Equity Division; General Manager, Sales Planning Department and Investment Consultation Department Aug 2023 Representative Director, Senior Managing Director; General Manager, Sales Division and Equity Division; General Manager, Sales Planning Department, Savings Securities Department and Investment Consultation Department Jul 2025 Representative Director, Senior Managing Director; General Manager, Sales Division and Equity Division; General Manager, Financial Consultant Departments No. 1, No. 2 and No. 3, and Consultant Support Department (current)
1966-10-16
Keiko UEHARA
Director
Apr 1982 Joined Daiwa Securities Co., Ltd. Oct 2005 General Manager, Direct Management Department, Daiwa Securities Co., Ltd. Oct 2007 General Manager, Education and Training Department, Daiwa Securities Co., Ltd. Apr 2009 Executive Officer, Responsible for Public Relations, Daiwa Securities Group Inc. Apr 2011 Senior Managing Director, Daiwa Business Center Co., Ltd. Jun 2018 Outside Director of the Company (current) Jun 2022 Outside Director, Tohoku Electric Power Co., Inc. (current)
1960-01-07
Hosaku HAMADA
Director
Apr 1974 Joined Sumitomo Corporation Jul 1999 General Manager, Business Planning Department, Sumitomo Corporation Apr 2000 General Manager, Corporate Planning Department, Sumitomo Corporation Apr 2002 General Manager, Corporate Finance Department, Sumitomo Corporation Apr 2003 Executive Officer; General Manager, Corporate Finance Department, Sumitomo Corporation Apr 2004 Executive Officer; General Manager, Financial Resources Group, Sumitomo Corporation Apr 2006 Managing Executive Officer; General Manager, Financial Resources Group, Sumitomo Corporation Apr 2009 Senior Managing Executive Officer, CFO; General Manager, Financial Resources Group, Sumitomo Corporation Jun 2009 Director, Senior Managing Executive Officer, CFO; General Manager, Financial Resources Group, Sumitomo Corporation Apr 2012 Director, Executive Vice President, CFO; General Manager, Financial Resources Group, Sumitomo Corporation Apr 2013 Director, Executive Vice President; General Manager, Europe, Middle East, Africa, CIS and Central Asia (based in London), Sumitomo Corporation Jun 2013 Executive Vice President; General Manager, Europe, Middle East, Africa, CIS and Central Asia; Chairman, Sumitomo Corporation Europe Holdings (based in London) Apr 2015 Special Advisor, Sumitomo Corporation Jun 2015 Outside Director, Daiwa Asset Management Co., Ltd. (currently Daiwa Asset Management Co., Ltd.) Jun 2023 Outside Director of the Company (current)
1951-07-05
Shinji AOKI
Director; Chief Internal Control Officer; General Manager, Supervisory Division
Apr 1999 Joined the Company Aug 2013 General Manager, Kitakyushu Branch Aug 2017 Responsible for Eastern Region, Sales Division Jun 2018 General Manager, Sales Division; Responsible for Eastern Region; General Manager, Sales Planning Department, Savings Securities Department and Investment Consultation Department Aug 2018 General Manager, Sales Division; General Manager, Sales Planning Department, Savings Securities Department and Investment Consultation Department Aug 2019 General Manager, Sales Division; General Manager, Sales Planning Department and Investment Consultation Department Aug 2021 Executive Officer; General Manager, Nagoya Branch; General Manager, Sales Department No. 2 Aug 2023 Executive Officer; General Manager, Nagoya Branch Feb 2025 Executive Officer; Deputy General Manager, Supervisory Division Jun 2025 Director, Executive Officer; Chief Internal Control Officer; General Manager, Supervisory Division (current)
1976-01-03
Kazuhiro SAITO
Director
Apr 1979 Joined Suntory Holdings Limited Sep 2005 Deputy General Manager, Food Business Division, Suntory Holdings Limited Apr 2009 Managing Director, Suntory Beverage & Food International Ltd.; Executive Officer, Suntory Holdings Limited Jan 2011 Vice President, Suntory (China) Holdings Co., Ltd.; General Manager, China Food Business Division Apr 2014 President, Suntory (China) Holdings Co., Ltd.; General Manager, China Beer and Huangjiu Business Division Mar 2015 Managing Executive Officer, Suntory Beverage & Food International Ltd. Apr 2015 Responsible for Corporate Planning Division; General Manager, Finance Division, Suntory Beverage & Food International Ltd. Apr 2016 Senior Advisor, Suntory Beverage & Food International Ltd.; CEO, Suntory Beverage & Food Asia Pte. Ltd. Mar 2019 Representative Director, President, Suntory Beverage & Food International Ltd. May 2025 Outside Director, J. Front Retailing Co., Ltd. (current) Jun 2025 Outside Director of the Company (current) Mar 2026 Outside Director, Kokuyo Co., Ltd. (current)
1956-10-31
Haruko OZEKI
Director
Apr 1985 Joined Nippon Kogaku K.K. (currently Nikon Corporation) Aug 1997 Legal Counsel, Nippon Coca-Cola Co., Ltd. Aug 2003 Legal Director, Amazon Japan K.K. (currently Amazon Japan G.K.) Jan 2008 Executive Officer, Head of Legal Department, Bristol-Myers K.K. (currently Bristol-Myers Squibb K.K.) Dec 2011 Managing Executive Officer, General Counsel, Siemens Japan K.K. (currently Siemens K.K. and Siemens Healthcare K.K.) Sep 2013 Managing Executive Officer, Head of Legal Division, Coca-Cola East Japan Co., Ltd. (currently Coca-Cola Bottlers Japan Inc.) Mar 2015 Director, Managing Executive Officer, Head of Legal Division, Coca-Cola East Japan Co., Ltd. Apr 2017 Managing Executive Officer, Head of Legal Division, Coca-Cola East Japan Co., Ltd.; Executive Officer, General Manager, Legal Administration Department, Coca-Cola Bottlers Japan Holdings Inc. (currently Coca-Cola Bottlers Japan Holdings Inc.) Feb 2019 Executive Officer, Head of Legal Division, Coca-Cola East Japan Co., Ltd. Jun 2021 Outside Director, Daio Paper Corporation Jun 2025 Outside Director of the Company (current)
1963-03-05
Noboru YAMAZAKI
Standing Audit & Supervisory Board Member
Apr 1977 Joined Kyowa Bank, Ltd. Oct 1981 Joined Promise Co., Ltd. Jun 2002 General Manager, Finance Department, Promise Co., Ltd. Apr 2004 Joined the Company as Counselor Jun 2004 Executive Officer; General Manager, Planning Department, Finance Department and Securities Management Department Feb 2008 Executive Officer; General Manager, Finance Department and Securities Management Department Apr 2011 Managing Executive Officer; General Manager, Finance Department and Securities Management Department Mar 2012 Managing Executive Officer; General Manager, Finance Department, Securities Management Department and Planning Department Jun 2012 Managing Executive Officer; General Manager, Finance Department and Securities Management Department Jun 2019 Standing Audit & Supervisory Board Member (current)
1954-07-14
Akio SHIMIZU
Standing Audit & Supervisory Board Member
Apr 1987 Joined Mitsubishi Trust and Banking Corporation (currently Mitsubishi UFJ Trust and Banking Corporation) Mar 2001 Manager, Funding Section, Singapore Branch, Mitsubishi UFJ Trust and Banking Corporation Apr 2005 Group Manager, Bond and Equity Investment Group, Securities Investment Department, Mitsubishi UFJ Trust and Banking Corporation Feb 2006 Group Manager, Strategic Trading Group, Funds and Foreign Exchange Department, Mitsubishi UFJ Trust and Banking Corporation Jul 2007 Group Manager, Foreign Exchange No. 1 Group, Funds and Foreign Exchange Department, Mitsubishi UFJ Trust and Banking Corporation Apr 2009 Deputy General Manager, Singapore Branch, Mitsubishi UFJ Trust and Banking Corporation Apr 2014 General Manager, International Administration Department, Mitsubishi UFJ Trust and Banking Corporation Feb 2016 Senior Manager, Internal Audit Department, Mitsubishi UFJ Trust and Banking Corporation Apr 2016 Deputy General Manager, Internal Audit Department, Mitsubishi UFJ Trust and Banking Corporation Apr 2020 Senior Manager, Internal Audit Department, Mitsubishi UFJ Trust and Banking Corporation Jun 2022 Standing Audit & Supervisory Board Member (Outside), the Company (current)
1964-12-08
Kazuhiro NEGISHI
Standing Audit & Supervisory Board Member
Apr 1990 Joined Nippon Life Insurance Company Mar 2000 Seconded to Nissay Asset Management Corporation Mar 2003 Manager, System Planning Office, System Development Department, Nissay Asset Management Corporation Mar 2004 Director, Investment Trust Risk Management Office, Investment Management Department, Nissay Asset Management Corporation Mar 2008 Senior Manager, Loan Management Group, Loan Administration Department, Nippon Life Insurance Company Mar 2010 Senior Manager, Loan Administration Department, Nippon Life Insurance Company Apr 2014 Seconded to Seiko Building Management Co., Ltd., Deputy General Manager, Information Systems Department Apr 2016 Deputy General Manager, General Administration Management Department, Seiko Building Management Co., Ltd. Mar 2017 Financial Examiner, Financial Audit Department, Nippon Life Insurance Company Jun 2022 Standing Audit & Supervisory Board Member (Outside), the Company (current)
1966-01-15
Taiji OTA
Audit & Supervisory Board Member
Apr 1981 Joined Sumitomo Bank, Ltd. Oct 1989 Joined Ota Showa Audit Corporation Feb 1991 Joined Mitsubishi Trust and Banking Corporation Aug 2006 Deputy General Manager, Corporate Planning Department, Mitsubishi UFJ Trust and Banking Corporation Jun 2009 General Manager, Global Markets Department, Mitsubishi UFJ Trust and Banking Corporation Dec 2011 Standing Audit & Supervisory Board Member, Toa Valve Engineering, Inc. Dec 2014 General Manager, Internal Audit Department, Toa Valve Engineering, Inc. Jun 2015 Standing Audit & Supervisory Board Member, Japan Master Trust Bank, Ltd. Nov 2016 Non-Standing Audit & Supervisory Board Member, M&U Investment Advisors Co., Ltd. Jun 2018 Standing Audit & Supervisory Board Member (Outside), the Company Jun 2022 Counselor, Finance Department, the Company Jun 2023 Audit & Supervisory Board Member (current)
1958-10-21
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-30
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-16
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-04-16
Amended Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-30
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-18
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-30
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-30
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-24
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
EDINETAmended
2023-10-18
Amended Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINETAmended
2021-12-03
Amended Annual Securities Report
Period: Apr 2016 – Mar 2017
EDINETAmended
2021-12-03
Amended Annual Securities Report
EDINETAmended
2021-12-03
Amended Annual Securities Report
EDINETAmended
2021-12-03
Amended Annual Securities Report
EDINETAmended
2021-12-03
Amended Annual Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-23
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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