Overview
Electric Power and Gas

HIROSHIMA GAS CO.,LTD.

Hiroshima Gas is a regional energy utility primarily engaged in the manufacture, supply, and sale of city gas (natural gas) across key municipalities in Hiroshima Prefecture, including Hiroshima, Fukuyama, Kure, and Onomichi. The company also operates an LPG distribution business serving areas outside its city gas supply zones, and has expanded into electricity retail, biomass power generation, and senior care services. LNG is imported via dedicated LNG vessels to the company's Hatsukaichi terminal, underpinning a vertically integrated supply chain from procurement to end-customer delivery.

Market Cap
¥27.6B
US$176M
EV
¥30.4B
US$194M
Stock¥401▼-0.99%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.4
x
LTM EV/EBIT
19.6
x
LTM PER
14.4
x
LTM PBR
0.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-12.3%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
27.6BUS$176MMarket Cap32.1BUS$205M+ Debt15.0BUS$95.5M− Cash17.6BUS$113M− Inv. Sec.3.34BUS$21.3M+ NCI30.4BUS$194MEV
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Performance & Balance
Revenue 5Y (¥B)
76.8US$490M'22/395.2US$607M'23/390.7US$578M'24/391.6US$584M'25/388.4US$564M'26/3
EBITDA 5Y (¥B)
10.6US$67.8M'22/314.3US$91.4M'23/310.5US$67.2M'24/38.81US$56.2M'25/3
Net Income 5Y (¥B)
3.66US$23.4M'22/35.22US$33.3M'23/32.33US$14.9M'24/31.69US$10.8M'25/32.11US$13.4M'26/3
Capital Structure
69%
31%
EquityD/E 0.45xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
34.4US$219M32.6US$208M'22/348.6US$310M44.1US$281M'23/342.2US$269M44.0US$281M'24/335.1US$224M44.8US$286M'25/335.6US$227M40.3US$257M'26/3
Shareholders
Top 10 hold 39.0%
1
IWATANI CORPORATION
11.06%
2
Meiji Yasuda Life Insurance Company
5.60%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
4.55%
4
The Hiroshima Bank, Ltd.
4.13%
5
Nippon Life Insurance Company
3.45%
6
Hiroshima Electric Railway Co.,Ltd.
2.70%
7
SAIBU GAS HOLDINGS CO.,LTD.
2.06%
8
Senda Kogyo Co., Ltd.
2.01%
9
Hiroshima Gas Employee Shareholding Association
1.88%
10
Mitsubishi UFJ Trust and Banking Corporation
1.60%
Management
16 officers
Kensuke MATSUFUJI
Representative Director, Chairman
Apr 1983 Joined the Company Jun 2007 General Manager, Secretarial Department Jun 2010 General Manager, Public Relations and Environment Department, Management Coordination Headquarters Jun 2011 Executive Officer, General Manager, Residential Energy Sales Department, Energy Business Division Jun 2013 Director, Executive Officer, General Manager, Accounting Department, Management Coordination Headquarters Jun 2015 Director, Managing Executive Officer, General Manager, Energy Business Division Jun 2017 Representative Director, President, President Executive Officer Apr 2024 Representative Director, Chairman (current) Nov 2025 Chairman, Hiroshima Chamber of Commerce and Industry (concurrent)
1959-11-27
Tomohiko NAKAGAWA
Representative Director, President, President Executive Officer
Apr 1987 Joined the Company Apr 2009 General Manager, Materials Department, Management Coordination Headquarters Jun 2013 Executive Officer, General Manager, Raw Materials Department, Management Coordination Headquarters Apr 2016 Executive Officer, General Manager, Raw Materials Department Jun 2016 Director, Executive Officer, General Manager, Production Business Division Apr 2019 Director, Managing Executive Officer, General Manager, Corporate Planning Department Apr 2023 Director, Managing Executive Officer Apr 2024 Representative Director, President, President Executive Officer (current)
1963-03-23
Kazunori TAMURA
Director, Managing Executive Officer, General Manager, Production Business Division
Apr 1985 Joined the Company Jun 2010 General Manager, Sales Planning Department, Energy Business Division Jun 2014 Executive Officer, Kure Branch Manager and Kumano Plant Manager, Energy Business Division Apr 2016 Executive Officer, General Manager, Supply Facilities Department, Pipeline Business Division Jun 2017 Director, Executive Officer, General Manager, Pipeline Business Division Apr 2019 Director, Executive Officer, General Manager, Production Business Division Oct 2019 Director, Executive Officer, General Manager, Production Business Division and General Manager, Engineering Department Apr 2020 Director, Managing Executive Officer, General Manager, Production Business Division Apr 2023 Director, Managing Executive Officer, General Manager, Production Business Division and General Manager, Materials Department Jun 2023 Director, Managing Executive Officer, General Manager, Production Business Division Jun 2025 Director, Managing Executive Officer Apr 2026 Director, Managing Executive Officer, General Manager, Production Business Division (current)
1962-08-12
Yasutaka OKITA
Director, Managing Executive Officer
Apr 1986 Joined the Company Apr 2016 Kure Branch Manager and Kumano Plant Manager, Energy Business Division Apr 2017 Executive Officer, Kure Branch Manager, Energy Business Division Apr 2018 Executive Officer, Deputy Division Head and General Manager, Sales Planning Department, Energy Business Division Apr 2020 Managing Executive Officer, Deputy Division Head and General Manager, Sales Planning Department, Energy Business Division Jul 2022 Managing Executive Officer, General Manager, General Affairs Department Jun 2023 Director, Managing Executive Officer, General Manager, General Affairs Department Aug 2025 Director, Managing Executive Officer (current)
1962-09-07
Tadashi YOSHIZAKI
Director, Managing Executive Officer, General Manager, Pipeline Business Division
Apr 1988 Joined the Company Apr 2014 General Manager, Commercial Energy Sales Department, Energy Business Division Apr 2018 Executive Officer, Kure Branch Manager, Energy Business Division Apr 2020 Executive Officer, General Manager, Industrial Energy Sales Department, Energy Business Division Apr 2021 Managing Executive Officer, General Manager, Industrial Energy Sales Department, Energy Business Division Jul 2022 Managing Executive Officer, Deputy Division Head and General Manager, Industrial Energy Sales Department, Energy Business Division Apr 2023 Managing Executive Officer, Deputy Division Head, Energy Business Division Jun 2023 Director, Managing Executive Officer, Division Head, Energy Business Division Apr 2025 Director, Managing Executive Officer, Head, Energy Business Headquarters Jun 2026 Director, Managing Executive Officer, General Manager, Pipeline Business Division (current) Jun 2026 Representative Director, President, Setouchi Pipeline Co., Ltd. (concurrent)
1965-01-09
Yoshiaki YAMAGUCHI
Director, Managing Executive Officer, Head, Energy Business Headquarters
Apr 1990 Joined the Company Jun 2017 General Manager, Residential Energy Sales Department, Energy Business Division Apr 2018 General Manager, Commercial Energy Sales Department, Energy Business Division Apr 2020 Onomichi Branch Manager, Energy Business Division Apr 2022 Executive Officer, General Manager, Sales Promotion Division, Hiroshima Gas Propane Co., Ltd. Jun 2022 Director, Executive Officer, General Manager, Sales Promotion Division, Hiroshima Gas Propane Co., Ltd. Apr 2023 Executive Officer, General Manager, Industrial Energy Sales Department, Energy Business Division, the Company Jun 2023 Executive Officer, Deputy Division Head and General Manager, Industrial Energy Sales Department, Energy Business Division Apr 2025 Managing Executive Officer, Kure Branch Manager, Gas Business Division, Energy Business Headquarters Jun 2026 Director, Managing Executive Officer, Head, Energy Business Headquarters (current)
1967-11-18
Koichi OZAKI
Director, Managing Executive Officer, General Manager, Corporate Planning Department
Apr 1990 Joined the Company Apr 2020 General Manager, Commercial Energy Sales Department, Energy Business Division Apr 2023 Executive Officer, Head of Sales, Hiroshima Gas Propane Co., Ltd. Jun 2023 Director, Executive Officer, Head of Sales, Hiroshima Gas Propane Co., Ltd. Apr 2025 Executive Officer, General Manager, Corporate Planning Department, the Company Apr 2026 Representative Director, President, Kaita Biomass Power Co., Ltd. (concurrent) Jun 2026 Director, Managing Executive Officer, General Manager, Corporate Planning Department (current)
1967-08-12
Hideyuki MIYAKE
Full-time Corporate Auditor
Apr 1990 Joined the Company Jun 2017 Onomichi Branch Manager, Energy Business Division Apr 2020 Executive Officer, General Manager, Human Resources Department Apr 2023 Executive Officer, Assistant to the President Jun 2023 Full-time Corporate Auditor (current) Mar 2025 Corporate Auditor, Hiroshima Gas Life Co., Ltd. (concurrent) Mar 2025 Corporate Auditor, Setouchi Pipeline Co., Ltd. (concurrent)
1966-12-12
Takashi UMETSU
Full-time Corporate Auditor
Apr 1992 Joined Development Bank of Japan Inc. (now Development Bank of Japan Inc.) Jul 2024 Joined the Company, Senior Manager, Corporate Planning Department Jun 2025 Full-time Corporate Auditor (current) Jun 2025 Corporate Auditor, Hiroshima Gas Mate Co., Ltd. (concurrent) Jun 2025 Corporate Auditor, B Smile Co., Ltd. (concurrent)
1967-09-29
Yutaka OZAKI
Director
May 1972 Joined Osaka Gas Co., Ltd. Apr 2008 Representative Director, President, Osaka Gas Co., Ltd. Jun 2009 Representative Director, President, President Executive Officer, Osaka Gas Co., Ltd. Apr 2015 Representative Director, Chairman, Osaka Gas Co., Ltd. Jan 2021 Director, Senior Advisor, Osaka Gas Co., Ltd. Jun 2021 Senior Advisor, Osaka Gas Co., Ltd. (current) Jun 2024 Director, the Company (current)
1950-03-11
Kaori MAEDA
Director
Apr 1982 Assistant Professor, Faculty of Engineering, Hiroshima University (Category II, Electrical Engineering) Apr 1990 Computer Technician, Radiation Effects Research Foundation Jun 1994 Assistant Professor, Department of Information Engineering, Faculty of Information Sciences, Hiroshima City University Jul 2000 Associate Professor, Information Processing Center, Hiroshima City University Apr 2007 Professor, Graduate School of Information Sciences, Hiroshima City University Apr 2020 Dean, Graduate School of Information Sciences and Dean, Faculty of Information Sciences, Hiroshima City University Apr 2023 Chief Digital Officer and Specially Appointed Professor, Hiroshima City University Apr 2024 Assistant to the President, Chief Digital Officer and Specially Appointed Professor, Hiroshima City University Jun 2024 Director, the Company (current) Apr 2025 President and Chancellor, Hiroshima City University (current)
1959-06-22
Yasuhiro KARII
Director
Mar 1983 Joined Hiroshima Electric Railway Co., Ltd. Jun 2024 Representative Director, President, Hiroshima Electric Railway Co., Ltd. (current) Jun 2026 Director, the Company (current)
1959-09-25
Toshio HETANI
Director
Apr 1983 Joined The Hiroshima Bank, Ltd. Jun 2018 Representative Director and President, The Hiroshima Bank, Ltd. Oct 2020 Representative Director, President, Hirogin Holdings, Inc. (current) Jun 2026 Director, the Company (current)
1960-05-01
Mitsuhiro TANIMOTO
Director
Mar 1974 Joined Iwatani Corporation Apr 2017 Representative Director, President, Executive Officer, Iwatani Corporation Apr 2019 Representative Director, President and Executive Officer, Iwatani Corporation Apr 2020 Director, Senior Advisor, Iwatani Corporation Jun 2020 Senior Advisor, Iwatani Corporation (current) Jun 2026 Director, the Company (current)
1951-09-11
Chikako AKITA
Corporate Auditor
Jun 1997 Registered as Attorney-at-law (current) Jun 2020 Corporate Auditor, the Company (current)
1966-07-30
Yukinori MICHINAGA
Corporate Auditor
Apr 1981 Joined Saibu Gas Co., Ltd. (now Saibu Gas Holdings Co., Ltd.) Apr 2019 Representative Director, President and Executive Officer, Saibu Gas Co., Ltd. Apr 2021 Representative Director, President and Executive Officer, Saibu Gas Co., Ltd. (name changed from Saibu Gas Spin-off Preparation Co., Ltd. effective Apr 1, 2021) Apr 2024 Representative Director, Chairman, Saibu Gas Co., Ltd. (current) Apr 2024 Representative Director, Chairman, Saibu Gas Holdings Co., Ltd. (current) Jun 2024 Corporate Auditor, the Company (current)
1957-11-01
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-20
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 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
2022-11-10
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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