Overview
Electric Power and Gas

SHIZUOKA GAS CO.,LTD.

Shizuoka Gas is a regional gas utility headquartered in Shizuoka Prefecture, Japan, engaged primarily in the supply and sale of city gas (LNG-based) and LPG to residential, commercial, and industrial customers across Shizuoka and surrounding areas. The company also operates LPG sales, onsite energy services (cogeneration and heat supply), and electricity retail through its subsidiary Shizuoka Gas & Power Co., Ltd. Beyond domestic operations, the group conducts LNG trading via its Singapore front-office subsidiary and is developing energy business opportunities in India and Vietnam.

Market Cap
¥99.8B
US$637M
EV
¥65.0B
US$414M
Stock¥1,324▼-0.68%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.8
x
LTM EV/EBIT
4.5
x
LTM PER
10.1
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-5.1%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
99.8BUS$637MMarket Cap18.1BUS$115M+ Debt27.6BUS$176M− Cash31.3BUS$200M− Inv. Sec.6.04BUS$38.5M+ NCI65.0BUS$414MEV
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Performance & Balance
Revenue 5Y (¥B)
133US$848M'21/12207US$1.32B'22/12214US$1.36B'23/12202US$1.29B'24/12201US$1.28B'25/12
EBITDA 5Y (¥B)
13.5US$85.8M'21/1217.4US$111M'22/1227.7US$177M'23/1220.0US$128M'24/1223.5US$150M'25/12
Net Income 5Y (¥B)
4.12US$26.2M'21/125.98US$38.1M'22/1214.1US$90.0M'23/128.78US$56.0M'24/1210.0US$64.1M'25/12
Capital Structure
89%
EquityD/E 0.13xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
23.8US$152M5.12US$32.7M'21/1242.0US$268M12.4US$79.0M'22/1252.3US$333M17.3US$111M'23/1257.8US$368M18.9US$120M'24/1260.2US$384M18.0US$115M'25/12
Shareholders
Top 10 hold 58.9%
1
Suzuyo & Co., Ltd.
18.10%
2
Suzuyo Construction Co., Ltd.
14.06%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
8.17%
4
TOKYO GAS CO.,LTD.
6.63%
5
The Shizuoka Bank, Ltd.
3.55%
6
Chubu Electric Power Company,Incorporated
1.98%
7
TOKAI Holdings Corporation
1.81%
8
THE SHIMIZU BANK,LTD.
1.59%
9
Custody Bank of Japan, Ltd. (Trust Account)
1.51%
10
SHIZUOKA GAS CO.,LTD. Employee Stock Ownership Association
1.50%
Management
11 officers
Hiroyuki KISHIDA
Representative Director, Chairman of the Board
Apr 1981 Joined the Company Mar 2004 Group Leader, Corporate Planning Group Jan 2007 Manager, Business Planning, Corporate Planning Department Apr 2010 Manager, Planning and Promotion, Sales Coordination Department; concurrently Manager, Wide-Area Sales Jan 2011 Deputy General Manager, Eastern Branch Apr 2012 Executive Officer, General Manager, Corporate Planning Department Mar 2013 Representative Director, President, Minami Fuji Pipeline Co., Ltd. Jan 2014 Managing Executive Officer, in charge of Corporate Planning, Raw Materials and Integrated Energy Business Promotion Mar 2014 Director, Managing Executive Officer, in charge of Corporate Planning, Raw Materials and Integrated Energy Business Promotion Apr 2015 Director, Managing Executive Officer, General Manager, Living Business Division Jan 2016 Director, Senior Managing Executive Officer, General Manager, Living Business Division Jan 2018 Representative Director, President and Executive Officer, General Manager, Living Business Division Jan 2019 Representative Director, President and Executive Officer Jan 2024 Representative Director, Chairman of the Board (current)
1958-12-12
Naotake MATSUMOTO
Representative Director, President and Executive Officer
Apr 1993 Joined the Company Jan 2019 General Manager, Market Development Department, Living Business Division Jan 2020 General Manager, Energy Strategy Department Jan 2020 Representative Director, President, Shizuoka Gas & Power Co., Ltd. Jan 2021 Executive Officer; Deputy General Manager, Global Energy Division; General Manager, Power and Environment Business Department Jan 2022 Executive Officer, General Manager, Management Strategy Division; concurrently General Manager, Corporate Planning Department Jan 2022 Representative Director, President, Minami Fuji Pipeline Co., Ltd. Jan 2023 Managing Executive Officer, General Manager, Management Strategy Division Feb 2023 Managing Executive Officer, General Manager, Management Strategy Division; concurrently General Manager, Digital Innovation Department Jan 2024 President and Executive Officer; concurrently General Manager, Management Strategy Division Mar 2024 Representative Director, President and Executive Officer; concurrently General Manager, Management Strategy Division Jan 2025 Representative Director, President and Executive Officer (current)
1971-02-24
Takeyasu SUGIYAMA
Director, Managing Executive Officer, General Manager, Corporate Services Division
Apr 1989 Joined the Company Apr 2015 Group Leader, Living Design Group, Living Business Division Jan 2016 Executive Officer, General Manager, Living Design Department, Living Business Division Jan 2018 Representative Director, President, Shizuoka Gas Living Co., Ltd. Jan 2021 Executive Officer; Deputy General Manager, Sales Division; General Manager, Living Design Department Jan 2022 Managing Executive Officer, General Manager, Corporate Services Division; concurrently General Manager, Human Resources Department Jan 2025 Managing Executive Officer, General Manager, Corporate Services Division Mar 2025 Director, Managing Executive Officer, General Manager, Corporate Services Division (current)
1966-10-29
Katsunori NAKANISHI
Director
Apr 1976 Joined The Shizuoka Bank, Ltd. Dec 1998 Deputy General Manager, Human Resources Department; Manager, Human Resources Division, The Shizuoka Bank, Ltd. Apr 1999 Executive Officer, General Manager, Human Resources Department, The Shizuoka Bank, Ltd. Jun 1999 Executive Officer, General Manager, Management Administration Department, The Shizuoka Bank, Ltd. Jun 2001 Director, Executive Officer, General Manager, Corporate Planning Department, The Shizuoka Bank, Ltd. Jun 2003 Director, Managing Executive Officer, The Shizuoka Bank, Ltd. Apr 2005 Director, Managing Executive Officer; Deputy General Manager, Management Planning and Administration, The Shizuoka Bank, Ltd. Jun 2005 Representative Director, President, The Shizuoka Bank, Ltd. Mar 2017 Director of the Company (current) Jun 2017 Representative Director, Chairman of the Board, The Shizuoka Bank, Ltd.; Outside Director, Shizuoka Railway Co., Ltd. (current) Oct 2022 Director, Chairman of the Board, The Shizuoka Bank, Ltd.; Representative Director, Chairman of the Board, Shizuoka Financial Group, Inc. (current)
1953-06-15
Hajime HIRANO
Director
Apr 1979 Joined Mitsubishi Corporation Apr 2010 Executive Officer, General Manager, Oil Business Division, Mitsubishi Corporation Apr 2013 Executive Officer, Deputy General Manager, Natural Gas Business Division, Mitsubishi Corporation Apr 2014 Managing Executive Officer, General Manager, Natural Gas Business Division, Mitsubishi Corporation Apr 2015 Chief Operating Officer, Energy Business Group (Oil and Gas Exploration and Development; Natural Gas Business), Mitsubishi Corporation; concurrently General Manager, Natural Gas Business Division Apr 2016 Chief Executive Officer, Energy Business Group, Mitsubishi Corporation Apr 2018 Advisor, Mitsubishi Corporation Mar 2019 Director of the Company (current) Jun 2019 Full-time Audit & Supervisory Board Member, Mitsubishi Corporation Jun 2023 Advisor, Mitsubishi Corporation
1955-11-16
Koichi MARUNO
Director
Apr 1980 Joined Dai-ichi Life Insurance Company, Limited Apr 2008 Executive Officer; General Manager, Underwriting Division and Policy Services Department, Dai-ichi Life Insurance Company, Limited Apr 2009 Executive Officer, General Manager, Administrative Planning Department, Dai-ichi Life Insurance Company, Limited Jun 2012 Representative Director, Executive Vice President, Corporate Pension Business Services Co., Ltd. Apr 2014 Managing Executive Officer, Dai-ichi Life Insurance Company, Limited Mar 2015 Audit & Supervisory Board Member of the Company Apr 2016 Senior Managing Executive Officer, Dai-ichi Life Insurance Company, Limited Oct 2016 Director, Senior Managing Executive Officer, Dai-ichi Life Insurance Company, Limited; Senior Managing Executive Officer, Dai-ichi Life Holdings, Inc. Apr 2017 Representative Director, President, Dai-ichi Life Economic Research Institute Co., Ltd. Jun 2018 Outside Director (Audit and Supervisory Committee Member), Tsugami Corporation Jun 2020 Outside Director, Tsugami Corporation Mar 2023 Director of the Company (current)
1956-07-29
Rie HIRAKAWA
Director
Apr 1991 Joined Recruit Co., Ltd. Aug 1999 Representative Director, President, Travelgia Co., Ltd. Apr 2010 Principal, Ichigao Junior High School, Yokohama City Apr 2015 Principal, Nakagawa-Nishi Junior High School, Yokohama City Apr 2018 Superintendent of Education, Hiroshima Prefectural Board of Education Aug 2024 Representative Director, President, Academia Nexus Inc. (current) Oct 2024 Director, General Manager, Management Reform Headquarters, Kinran Gakuen Educational Corporation Mar 2025 Director of the Company (current) Apr 2025 Vice Chairman, Managing Director, Kinran Gakuen Educational Corporation (current)
1968-05-22
Mitsunobu KOSUGI
Standing Audit & Supervisory Board Member
Apr 1985 Joined the Company Jan 2014 Executive Officer, General Manager, Corporate Planning Department; concurrently Manager, Business Planning Mar 2014 Representative Director, President, Minami Fuji Pipeline Co., Ltd. Apr 2014 Executive Officer, General Manager, Corporate Planning Department Jan 2016 Managing Executive Officer, General Manager, Corporate Planning Department Mar 2016 Director, Managing Executive Officer, General Manager, Corporate Planning Department Jan 2017 Director, Managing Executive Officer, General Manager, Management Administration Department; concurrently General Manager, Business Strategy Department Mar 2017 Director, Managing Executive Officer, General Manager, Management Administration Department Jan 2020 Director, Managing Executive Officer, General Manager, General Affairs and Human Resources Department Jan 2022 Director, Managing Executive Officer; in charge of Management Strategy Division and Corporate Services Division; Assistant to the President Jan 2023 Director, Senior Managing Executive Officer; Assistant to the President; in charge of Management Strategy Division and Corporate Services Division Jan 2024 Director, Advisor Mar 2024 Standing Audit & Supervisory Board Member (current)
1961-11-28
Yoshiaki YATSU
Audit & Supervisory Board Member
Oct 1990 Joined Tohmatsu & Co. (currently Deloitte Touche Tohmatsu LLC) Jun 2005 Partner, Tohmatsu & Co. Oct 2018 Left Tohmatsu & Co. Nov 2018 Established Yatsu CPA Office (current) Mar 2019 Audit & Supervisory Board Member of the Company (current) Jun 2020 Outside Director, Elematec Corporation
1964-03-13
Hidefumi KOBAYASHI
Audit & Supervisory Board Member
Apr 1981 Joined The Nippon Kogyo Bank, Ltd. (currently Mizuho Bank, Ltd.) Apr 2010 Executive Officer, General Manager, Portfolio Management Department, Mizuho Corporate Bank, Ltd. Apr 2012 Managing Executive Officer, Mizuho Securities Co., Ltd. Apr 2013 Managing Executive Officer, Mizuho Financial Group, Inc.; concurrently Managing Executive Officer, Mizuho Securities Co., Ltd. Apr 2014 Managing Executive Officer, Mizuho Financial Group, Inc.; concurrently Managing Director and Managing Executive Officer, Mizuho Securities Co., Ltd. Jun 2017 Full-time Audit & Supervisory Board Member, DOWA Holdings Co., Ltd. Jun 2020 Outside Audit & Supervisory Board Member, Kyowa Sangyo Kaiun Co., Ltd. Mar 2021 Audit & Supervisory Board Member of the Company (current) Jul 2021 Outside Audit & Supervisory Board Member, Kamishima Chemical Industries Co., Ltd.
1957-09-27
Takahiro SHIBAGAKI
Audit & Supervisory Board Member
Apr 1987 Joined Dai-ichi Life Insurance Company, Limited Apr 2016 Executive Officer, General Manager, Financial Institutions Department, Dai-ichi Life Insurance Company, Limited Apr 2018 Representative Director, Executive Vice President, Dai-ichi Frontier Life Insurance Co., Ltd. Apr 2022 Senior Managing Executive Officer, Dai-ichi Life Holdings, Inc.; Senior Managing Executive Officer, Dai-ichi Life Insurance Company, Limited Jun 2022 Director (Full-time Audit and Supervisory Committee Member), Dai-ichi Life Holdings, Inc. (current); Audit & Supervisory Board Member, Dai-ichi Building Co., Ltd. (current) Mar 2023 Audit & Supervisory Board Member of the Company (current)
1965-02-25
Large Shareholding Reports
Tokyo Gas Co., Ltd.
2025-11-14
7.87%→6.86%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-06-30): 6.63%
Tokyo Gas Co., Ltd.
2025-11-14
7.87%→6.86%
Annual report (as of 2026-06-30): 6.63%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-07
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-05
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-11
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-25
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINETAmended
2025-11-14
Change Report
EDINET
2025-11-14
Large Shareholding Report
TDnet
2025-11-05
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-08
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-10
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 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
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-24
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-24
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-05-13
Quarterly Securities Report
EDINET
2021-03-29
Annual Securities Report
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