Overview
Electric Power and Gas

SAIBU GAS HOLDINGS CO.,LTD.

Saibu Gas Holdings is a holding company for the Saibu Gas Group, which operates primarily in the supply, distribution, and sale of city gas (LNG-based) and LPG across the Kyushu region of Japan, including Fukuoka, Kitakyushu, Kumamoto, Nagasaki, and Sasebo. The group also engages in electricity and other energy businesses (including renewable energy power generation and district heating/cooling), real estate development and leasing, and ancillary services. Its competitive strength lies in its dominant regional gas infrastructure in Kyushu, its integrated LNG procurement and distribution network anchored by the Hibiki LNG terminal, and its diversified energy and real estate portfolio.

Market Cap
¥88.5B
US$564M
EV
¥244B
US$1.55B
Stock¥2,459▲+0.29%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.1
x
LTM EV/EBIT
21.4
x
LTM PER
10.1
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.3%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Dec 24, 25Earnings: FY2025 full-year guidance raise with higher dividend
MC → EV Bridge
88.5BUS$564MMarket Cap245BUS$1.56B+ Debt18.7BUS$119M− Cash79.0BUS$504M− Inv. Sec.7.87BUS$50.2M+ NCI244BUS$1.55BEV
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Performance & Balance
Revenue 5Y (¥B)
215US$1.37B'22/3266US$1.70B'23/3256US$1.63B'24/3254US$1.62B'25/3262US$1.67B'26/3
EBITDA 5Y (¥B)
21.3US$136M'22/331.2US$199M'23/330.1US$192M'24/328.8US$184M'25/328.2US$180M'26/3
Net Income 5Y (¥B)
0.50US$3.16M'22/313.2US$84.3M'23/36.16US$39.3M'24/36.36US$40.6M'25/37.15US$45.6M'26/3
Capital Structure
33%
67%
EquityD/E 2.00xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
65.2US$416M236US$1.51B'22/381.0US$516M229US$1.46B'23/383.2US$531M240US$1.53B'24/388.9US$567M269US$1.72B'25/395.6US$610M283US$1.81B'26/3
Shareholders
Top 10 hold 35.2%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.67%
2
The Nishi-Nippon City Bank, Ltd.
4.92%
3
The Bank of Fukuoka, Ltd.
4.89%
4
Nippon Life Insurance Company
4.79%
5
SG Kyoei-kai
3.46%
6
The Juhachi-Shinwa Bank, Ltd.
3.24%
7
Stock Ownership Association
2.44%
8
Sumitomo Mitsui Banking Corporation
2.43%
9
TOHO GAS CO.,LTD.
1.69%
10
KUBOTA CORPORATION
1.63%
Management
12 officers
Yukinori MICHINAGA
Representative Director, Chairman
Apr 1981 Joined the Company Apr 2008 General Manager, CIS Project Department, Living Energy Division, Energy Headquarters Apr 2014 Executive Officer, General Manager, Information and Communications Department Apr 2015 Managing Executive Officer, General Manager, General Affairs and Public Relations Department Apr 2016 Managing Executive Officer Jun 2016 [Position not specified in source] Apr 2019 [Position not specified in source] Apr 2024 [Position not specified in source] Director, Managing Executive Officer Representative Director, President, President and Executive Officer Representative Director, Chairman (current)
1957-11-01
Takuji KATO
Representative Director, President, President and Executive Officer
Apr 1985 Joined the Company Jul 2010 General Manager, Energy Planning Department, Energy Headquarters Apr 2018 Executive Officer, Deputy Head, Sales Division Apr 2020 Managing Executive Officer, General Manager, Sales Planning Department Apr 2021 [Position not specified in source] Jun 2021 [Position not specified in source] Apr 2024 Managing Executive Officer Director, Managing Executive Officer Representative Director, President, President and Executive Officer (current)
1962-12-06
Toshiyuki UENO
Representative Director, Executive Vice President, Executive Officer
Apr 1987 Joined the Company Apr 2013 Representative Director, President, Seisho Co., Ltd. Apr 2018 Riji (Officer), Representative Director, President, Seisho Co., Ltd. Apr 2019 [Position not specified in source] Apr 2021 [Position not specified in source] Apr 2022 [Position not specified in source] Apr 2023 [Position not specified in source] Apr 2024 [Position not specified in source] Apr 2025 [Position not specified in source] Jun 2025 Riji (Officer), General Manager, Corporate Living Development Department Executive Officer, General Manager, Sales Planning Department, Seibu Gas Co., Ltd. Managing Executive Officer, General Manager, Sales Planning Department, Seibu Gas Co., Ltd. Director, Managing Executive Officer, Deputy Head, Sales Division, Seibu Gas Co., Ltd. Director, Managing Executive Officer, Head, Sales Division, Seibu Gas Co., Ltd. Executive Vice President, Executive Officer, Representative Director (current)
1963-05-24
Shogo MORITA
Director, Senior Managing Executive Officer
Apr 1988 Joined the Company Apr 2020 [Position not specified in source] Apr 2021 [Position not specified in source] Apr 2022 [Position not specified in source] Apr 2023 [Position not specified in source] Apr 2024 [Position not specified in source] Jun 2024 [Position not specified in source] Apr 2026 Riji (Officer), General Manager, Corporate Planning Department Riji (Officer), General Manager, Corporate Planning Department, Seibu Gas Co., Ltd. Executive Officer, General Manager, Corporate Planning Department, Seibu Gas Co., Ltd. Managing Executive Officer, General Manager, Corporate Strategy Department, Seibu Gas Co., Ltd. Managing Executive Officer, Director Director, Senior Managing Executive Officer (current)
1965-02-24
Jun MITARAI
Director, Managing Executive Officer
Apr 1987 Joined the Company Apr 2019 Riji (Officer), General Manager, Secretarial Department Apr 2022 Executive Officer, General Manager, Public Relations Department Jun 2023 [Position not specified in source] Jun 2025 Director, Audit and Supervisory Committee Member Director, Managing Executive Officer (current)
1963-12-03
Harushige OGOSHI
Director, Managing Executive Officer
Apr 1988 Joined Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Jul 2018 Deputy Director-General, Cabinet Office; Deputy Director, Cabinet Office Nuclear Disaster Victims Livelihood Support Team; Director, Cabinet Office Field Office for Decommissioning and Contaminated Water Measures, Nuclear Disaster Management Headquarters Nov 2021 Retired from Ministry of Economy, Trade and Industry Mar 2022 Joined Seibu Gas Co., Ltd. as General Manager, International Energy Business Division Apr 2023 [Position not specified in source] Apr 2024 [Position not specified in source] Apr 2025 [Position not specified in source] Apr 2026 [Position not specified in source] Jun 2026 Riji (Officer), General Manager, LNG Business Division, Seibu Gas Co., Ltd. Executive Officer, General Manager, Base Engineering Department, Energy Supply and Demand Headquarters, Seibu Gas Co., Ltd. Managing Executive Officer, General Manager, Base Engineering Department, Energy Supply and Demand Headquarters, Seibu Gas Co., Ltd. Managing Executive Officer, Director (current)
1964-11-13
Yoshinari NUMANO
Full-time Audit and Supervisory Committee Member (Director)
Apr 1986 Joined the Company Apr 2016 Riji (Officer), General Manager, General Affairs and Public Relations Department Apr 2019 Executive Officer, General Manager, General Affairs and Public Relations Department Apr 2021 [Position not specified in source] Apr 2023 [Position not specified in source] Jun 2023 [Position not specified in source] Jun 2025 Representative Director, President, Seibu Gas Nagasaki Co., Ltd. Managing Executive Officer Director, Managing Executive Officer Director, Audit and Supervisory Committee Member (current)
1962-07-01
Masahide ARIYOSHI
Full-time Audit and Supervisory Committee Member (Director)
Apr 1987 Joined the Company Apr 2020 [Position not specified in source] Apr 2021 [Position not specified in source] Apr 2022 [Position not specified in source] Apr 2023 [Position not specified in source] Jun 2025 Riji (Officer), General Manager, Electric Power Business Planning Department Riji (Officer), General Manager, Electric Power Business Planning Department, Seibu Gas Co., Ltd. Executive Officer, General Manager, Electric Power Business Planning Department, Seibu Gas Co., Ltd. Executive Officer, General Manager, Facilities and Technology Department, Supply Division, Seibu Gas Co., Ltd. Director, Audit and Supervisory Committee Member (current)
1965-01-31
Kiyohiro TAKADA
Director, Audit and Supervisory Committee Member
Apr 1978 [Details not specified in source] Jun 2003 Joined The Nishi-Nippon Mutual Bank (now The Nishi-Nippon City Bank, Ltd.) Jun 2003 Head, Management Policy Office, the Bank Oct 2004 Head, Integrated Management Office and General Manager, Secretarial Department, the Bank Apr 2005 Manager, Hakozaki Branch, the Bank Jun 2006 [Position not specified in source] Jun 2007 [Position not specified in source] Jun 2010 [Position not specified in source] Jun 2011 [Position not specified in source] Jun 2012 [Position not specified in source] Jun 2015 [Position not specified in source] Jun 2016 Executive Officer, General Manager, Secretarial Department, the Bank Oct 2016 Director, the Bank Jun 2023 Managing Director, the Bank Jun 2024 Director, Managing Executive Officer, the Bank Director, Senior Managing Executive Officer, the Bank Director, Pietro Co., Ltd. (current) Representative Director, Deputy President, The Nishi-Nippon City Bank, Ltd. Director, Executive Officer, Nishi-Nippon Financial Holdings, Inc. Representative Director, President, Kyushu Sogo Credit Co., Ltd. (current) Director, Audit and Supervisory Committee Member, the Company (current)
1954-01-05
Hisashi GOTO
Director, Audit and Supervisory Committee Member
Apr 1985 Joined The Bank of Fukuoka, Ltd. Apr 2012 General Manager, Corporate Planning Department, the Bank Apr 2015 Executive Officer, General Manager, Sales Promotion Department, the Bank Oct 2016 [Position not specified in source] Apr 2017 [Position not specified in source] Apr 2019 [Position not specified in source] Apr 2020 [Position not specified in source] Apr 2021 [Position not specified in source] Apr 2022 [Position not specified in source] Jun 2024 Executive Officer, General Manager, Sales Strategy Department and General Manager, FC Promotion Department, the Bank Managing Executive Officer, the Bank Executive Officer, Fukuoka Financial Group, Inc. Director, Managing Executive Officer, the Bank Director, Senior Managing Executive Officer, the Bank Non-Executive Director, The Kumamoto Bank, Ltd. Director, Executive Officer, Fukuoka Financial Group, Inc. Representative Director, President, Fukuoka Financial Group, Inc. (current) Representative Director, President, The Bank of Fukuoka, Ltd. (current) Director, Audit and Supervisory Committee Member, the Company (current)
1962-02-03
Kaori NISHIMURA
Director, Audit and Supervisory Committee Member
Apr 1992 Joined Kyushu Asahi Broadcasting Co., Ltd. Apr 2014 Correspondent, Seoul Bureau, ANN (TV Asahi Network) Apr 2018 Commentator, News Division, Kyushu Asahi Broadcasting Co., Ltd. Jul 2021 Deputy General Manager, News and Information Division, and General Manager, News and Information Center, Kyushu Asahi Broadcasting Co., Ltd. Jul 2023 General Manager, Regional Production Division, Kyushu Asahi Broadcasting Co., Ltd. (current) Jun 2026 Director, Audit and Supervisory Committee Member, the Company (current)
1969-01-15
Naoko NAKAMURA
Director, Audit and Supervisory Committee Member
Dec 2007 Joined Shin Nihon & Co. (now EY ShinNihon LLC) Sep 2011 Registered as Certified Public Accountant Aug 2023 Established Naoko Nakamura CPA Office (current) Director, Co-THINK Inc. Apr 2024 Representative Director, Co-THINK Inc. (current) Established Naoko Nakamura Certified Tax Accountant Office (current) Apr 2025 Visiting Lecturer, Cyber University (current) Dec 2025 Supervisory Officer, JR Kyushu Private REIT Investment Corporation (current) Jun 2026 Director, Audit and Supervisory Committee Member, the Company (current)
1984-08-16
Large Shareholding Reports
SMBC Nikko Securities Inc.
2026-03-23
2.95%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-03-23
Large Shareholding Report
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
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-06-26
Amended Quarterly Securities Report
Period: Jul 2023 – Sep 2023
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
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
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
2022-08-12
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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