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Overview

Electric Power and Gas

KEIYO GAS CO.,LTD.

Keiyo Gas Co., Ltd. is a regional city gas utility supplying natural gas to approximately 900,000+ customers (combined with subsidiary Kyowa Gas, over 1 million customers) across six cities in Chiba Prefecture, including Ichikawa, Matsudo, Kamagaya, Urayasu, Funabashi, and Kashiwa. The company also operates electricity retail services primarily targeting its existing gas customers, as well as real estate leasing and gas appliance sales through its group companies. Its competitive strength lies in its established pipeline infrastructure and deep customer base in the densely populated eastern Tokyo metropolitan area.

Market Cap

US$247M

¥39.5B

US$55.4M

¥8.85B

StockUS$7.70(¥1,229)▼-0.73%

US$1 = ¥159.70 (2026-11-12)

LTM EV/EBITDA

0.6

LTM EV/EBIT

2.1

LTM PER

10.3

LTM PBR

0.4

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-10.1%pt

Nov 13, 25 – Nov 13, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (US$)

EBITDA 5Y (US$)

Net Income 5Y (US$)

Capital Structure

79%

21%

EquityD/E 0.27xDebt

Liquidity vs Debt 5Y (US$)▲ Net Cash

CashInv. Sec.Debt

Business Segments

2025/12 · US$ (¥B)

Energy

Revenue

US$683M(¥109B)

Segment profit

US$36.6M(¥5.84B)5.4%

Life Service

Revenue

US$41.8M(¥6.67B)

Segment profit

US$4.38M(¥0.70B)10.5%

Real estate

Revenue

US$13.6M(¥2.17B)

Segment profit

US$5.59M(¥0.89B)41.1%

Adjustments

Revenue

-US$1.67M(¥-0.27B)

Segment profit

-US$22.5M(¥-3.60B)

Shareholders

Top 10 hold 69.0%

as of 2026-06-30 · Source: Annual Securities Report

Nanyu Shoji Co., Ltd.

30.30%

Keihai Co., Ltd.

8.89%

Hikari Tsushin KK Investment Limited Partnership

6.50%

Keiyo Jusetsu Co., Ltd.

5.51%

Keiyo Gas Energy Solutions Co., Ltd.

3.98%

The Chiba Kogyo Bank,Ltd.

3.86%

Keiyo Gas Liquid Co., Ltd.

3.20%

Keiyo Urban Development Co., Ltd.

2.34%

UH Partners 2 Investment Limited Partnership

2.26%

KEIYO GAS CO.,LTD. Employee Stock Ownership Association

2.21%

Management

11 officers

Setsu KIKUCHI

Representative Director, Chairman

Nov 1976 Auditor, Nanyu Shoji Co., Ltd. Jan 1977 Auditor, Takahagi Tankō Co., Ltd. Jan 1997 Director and Executive Vice President, Takahagi Tankō Co., Ltd. Jan 2003 Representative Director and Executive Vice President, Nanyu Shoji Co., Ltd. Mar 2003 Director, Keiyo Gas Co., Ltd. Jun 2014 Representative Director and Vice Chairman, Powder Tech Co., Ltd. Jun 2016 Representative Director and Chairman, Powder Tech Co., Ltd. (current) Aug 2016 Representative Director and Executive Vice President, Keiyo Gas Co., Ltd. Sep 2016 Representative Director and President, Nanyu Shoji Co., Ltd. (current) Oct 2016 Representative Director and Chairman, Keiyo Gas Co., Ltd. (current)

1950-04-09

Takashi EGUCHI

Representative Director, President and Executive Officer

Apr 1983 Joined Keiyo Gas Co., Ltd. Apr 2010 General Manager, Accounting Department, Keiyo Gas Co., Ltd. Mar 2013 Director and General Manager, Accounting Department, Keiyo Gas Co., Ltd. Mar 2015 Managing Director, Keiyo Gas Co., Ltd. Mar 2019 Director and Managing Executive Officer, Keiyo Gas Co., Ltd. Mar 2023 Representative Director, President and Executive Officer, Keiyo Gas Co., Ltd. (current)

1961-03-06

Koichi KUNO

Director, Senior Managing Executive Officer

Apr 1989 Joined Keiyo Gas Co., Ltd. Mar 2017 General Manager, Customer Service Department, Keiyo Gas Co., Ltd. Mar 2020 Executive Officer and General Manager, Customer Service Department, Keiyo Gas Co., Ltd. Mar 2021 Executive Officer and General Manager, Planning Department, Keiyo Gas Co., Ltd. Mar 2022 Director and Managing Executive Officer, Keiyo Gas Co., Ltd. Mar 2026 Director and Senior Managing Executive Officer, Keiyo Gas Co., Ltd. (current)

1967-03-10

Noboru OISHI

Director, Senior Managing Executive Officer

Apr 1987 Joined Keiyo Gas Co., Ltd. Apr 2013 General Manager, Customer Service Department, Keiyo Gas Co., Ltd. Mar 2019 Executive Officer and General Manager, Energy Development Department, Keiyo Gas Co., Ltd. Mar 2020 Director, Executive Officer, Deputy General Manager of Sales Division and General Manager, Energy Development Department, Keiyo Gas Co., Ltd. Mar 2022 Retired from Keiyo Gas Co., Ltd. Mar 2022 Director and Executive Vice President, Keiyo Gas Liquid Co., Ltd. Dec 2022 Representative Director and President, Keiyo Gas Liquid Co., Ltd. Mar 2024 Director and Managing Executive Officer, Keiyo Gas Co., Ltd. Mar 2026 Director and Senior Managing Executive Officer, Keiyo Gas Co., Ltd. (current)

1964-05-24

Kazuki MIURA

Director, Managing Executive Officer

Apr 1990 Joined Keiyo Gas Co., Ltd. Apr 2018 General Manager, General Affairs Department, Keiyo Gas Co., Ltd. Mar 2020 Executive Officer and General Manager, General Affairs Department, Keiyo Gas Co., Ltd. Mar 2024 Director and Managing Executive Officer, Keiyo Gas Co., Ltd. (current)

1968-03-16

Wataru MAEKAWA

Director

May 1980 Registered as Attorney-at-Law (First Tokyo Bar Association) Jan 1998 Opened Maekawa Law Office, Managing Attorney Apr 2004 Vice President, First Tokyo Bar Association Mar 2015 Director, Keiyo Gas Co., Ltd. (current) Apr 2020 Opened Maekawa Ito Law Office, Managing Attorney May 2022 Outside Audit & Supervisory Board Member, Adastria Co., Ltd. Feb 2024 Managing Attorney, Maekawa Law Office Aug 2025 Attorney-at-Law, Phi Law Office (current)

1950-02-10

Takao MORI

Director

Mar 1991 Registered as Certified Public Accountant Jul 2001 Opened Certified Public Accountant Takao Mori Office, Principal (current) May 2003 Registered as Certified Tax Accountant Sep 2013 Partner, Seinan Audit Corporation Jun 2015 Outside Director, Aisei Pharmacy Co., Ltd. Mar 2016 Director, Keiyo Gas Co., Ltd. (current) Jan 2018 Representative Partner, Seinan Audit Corporation Jun 2021 Outside Director, Powder Tech Co., Ltd. (current) Oct 2023 Representative Partner, Fujimi Audit Corporation (current)

1958-09-25

Yosuke UENO

Full-time Audit & Supervisory Board Member

Apr 1988 Joined Keiyo Gas Co., Ltd. Apr 2015 General Manager, Accounting Department, Keiyo Gas Co., Ltd. Mar 2019 Executive Officer and General Manager, Accounting Department, Keiyo Gas Co., Ltd. Mar 2023 Full-time Audit & Supervisory Board Member, Keiyo Gas Co., Ltd. (current)

1965-07-28

Koichi INAGAKI

Full-time Audit & Supervisory Board Member

Apr 1991 Joined Keiyo Gas Co., Ltd. Oct 2018 General Manager, Living Sales Department, Keiyo Gas Co., Ltd. Mar 2022 Executive Officer and General Manager, Living Sales Department, Keiyo Gas Co., Ltd. Mar 2025 Full-time Audit & Supervisory Board Member, Keiyo Gas Co., Ltd. (current)

1965-06-04

Toshio KAGAMI

Audit & Supervisory Board Member

Jun 1995 Representative Director and President, Oriental Land Co., Ltd. Jun 1996 Representative Director and President, Mihama Resort Hotels Co., Ltd. (now Mirial Resort Hotels Co., Ltd.) Mar 2004 Audit & Supervisory Board Member, Keiyo Gas Co., Ltd. (current) Jun 2005 Representative Director and Chairman, concurrently CEO, Oriental Land Co., Ltd. Apr 2009 Representative Director and Chairman, Mirial Resort Hotels Co., Ltd. Jun 2014 Outside Audit & Supervisory Board Member, TV Tokyo Holdings Corporation Jun 2018 Director, Mirial Resort Hotels Co., Ltd. (current) Jun 2023 Representative Director and Chairman of the Board, Oriental Land Co., Ltd. (current)

1936-01-05

Shunichi AOYAGI

Audit & Supervisory Board Member

Jun 2009 Representative Director, President and CEO, The Chiba Kogyo Bank, Ltd. Mar 2010 Audit & Supervisory Board Member, Keiyo Gas Co., Ltd. (current) Apr 2019 Representative Director and Chairman, The Chiba Kogyo Bank, Ltd. Jun 2023 Director and Chairman, The Chiba Kogyo Bank, Ltd. (current)

1955-07-12

Large Shareholding Reports

Koutsushin Co., Ltd.

2026-10-15

7.47%→7.65%

Koutsushin Co., Ltd.

2025-09-29

7.47%→7.47%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-10-30

業績予想の修正

KEIYO GAS CO.,LTD.

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KEIYO GAS CO.,LTD.

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