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Overview

Services

NAGAWA CO.,Ltd

Nagawa is a leading Japanese manufacturer and rental company specializing in unit houses (modular prefabricated structures), with operations spanning manufacturing, sales, and rental of unit houses under its well-known 'Super House' brand. The company also provides modular and system construction (module-base buildings) as well as sales and rental of construction machinery. Its vertically integrated model—covering production, direct sales, and rental—alongside a nationwide network of operating bases and advanced manufacturing facilities (including fully automated welding robots) represents its core competitive strengths.

Activists: Symphony Financial Partners (Singapore) Pte. Ltd. 13.83%

Market Cap

¥75.4B

US$480M

¥40.2B

US$256M

Stock¥4,865▲+0.62%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

4.3

LTM EV/EBIT

8.7

LTM PER

16.3

LTM PBR

1.1

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-45.0%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Jul 2, 26Symphony Financial Partners (Singapore) Pte. Ltd. changed stake (15.91%→14.87%)

MC → EV Bridge

AI Briefing

Nagawa manufactures, sells and rents unit houses under its 'Super House' brand, plus modular construction and construction machinery rental, with a vertically integrated nationwide platform. FY26/3 revenue ¥35.4B and OP ¥4.4B (12.4% margin), steady growth off FY25/3's ¥35.3B as automated welding robots (2024) bolster manufacturing scale. Net cash balance sheet (¥14.0B cash, no debt) against ¥74.8B market cap and concentrated founder-family ownership (Takahashi holdings ~19% combined) frame a closely-held, financially conservative profile.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

100%

EquityD/E 0.00xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 62.1%

as of 2026-03-31 · Source: Annual Securities Report

Osamu TAKAHASHI

12.96%

THE SFP VALUE REALIZATIONMASTER FUND LIMITED (Standing Proxy: Tachibana Securities Co., Ltd.)

12.32%

The Master Trust Bank of Japan, Ltd. (Trust Account)

9.16%

Manabu TAKAHASHI

6.45%

Kenji SUGAI

4.71%

North Pacific Bank,Ltd.

4.40%

MUFG Bank, Ltd.

3.93%

Etsuo TAKAHASHI

3.04%

N.T. Shokai Co., Ltd.

2.68%

JP MORGAN CHASE BANK (385642; Standing Proxy: Mizuho Bank, Ltd.)

2.47%

Management

11 officers

Osamu TAKAHASHI

Representative Director, Chairman

Apr 1985 Joined Fujitsu Limited Jan 1988 Joined the Company Apr 1995 Section Manager, Planning Office Apr 1998 Deputy General Manager, Manufacturing Division; Deputy General Manager, Planning Office Jun 1998 Director, General Manager, Planning Office Apr 1999 Director, General Manager, First Sales Division; in charge of Sales Development Department Jun 2001 Senior Managing Director, General Manager, First Sales Division; in charge of Sales Development Department Apr 2002 Senior Managing Director, General Manager, First Sales Division Mar 2004 Representative Director, President, Kenhan Co., Ltd. Jun 2004 Representative Director, President; in charge of Administration Division Jun 2008 Representative Director, President Jun 2012 Representative Director, President, PT. NAGAWA INDONESIA INTERNATIONAL Oct 2012 Representative Director, President, NAGAWA (THAILAND) Co., Ltd. Apr 2014 Director, PT. NAGAWA INDONESIA INTERNATIONAL; Director, NAGAWA (THAILAND) Co., Ltd. Apr 2016 Representative Director, President; General Manager, Administration Division Mar 2018 Director, NAGAWA OY CONSTRUCTION Co., Ltd. Apr 2023 Representative Director, Chairman (current)

1962-06-24

Arata HAMANO

Representative Director, President

Apr 1995 Joined Nagawa Kenhan Co., Ltd. (absorbed by the Company through merger and dissolved) Apr 2007 Joined the Company Apr 2011 General Manager, Nagoya Sales Office Apr 2013 General Manager, Sapporo Sales Office Apr 2017 Deputy General Manager, Sales Division Apr 2019 General Manager, Planning Office; General Manager, Overseas Business Promotion Office Jun 2019 Director, General Manager, Planning Office; General Manager, Overseas Business Promotion Office Jan 2021 Director, General Manager, Sales Division Apr 2023 Managing Director, General Manager, Sales Division Apr 2026 Representative Director, President (current)

1974-08-21

Ryo NIIMURA

Senior Managing Director, General Manager, Administration Division

Apr 1998 Joined the Company Apr 2009 Section Manager, Planning Office Apr 2011 Section Manager, Planning Office; Section Manager, Overseas Preparation Office Apr 2014 General Manager, Planning Office; General Manager, Overseas Business Promotion Office Jun 2015 Director, General Manager, Planning Office; General Manager, Overseas Business Promotion Office Mar 2018 Director, PT. NAGAWA INDONESIA INTERNATIONAL; Director, NAGAWA (THAILAND) Co., Ltd.; Director, NAGAWA OY CONSTRUCTION Co., Ltd. Apr 2018 Managing Director, General Manager, Administration Division; General Manager, Planning Office; General Manager, Overseas Business Promotion Office Apr 2019 Managing Director, General Manager, Administration Division; General Manager, Planning Office; General Manager, Accounting Department Jan 2021 Managing Director, General Manager, Administration Division; General Manager, Planning Office; General Manager, Accounting Department; General Manager, Overseas Business Promotion Office; in charge of System Development Office Apr 2022 Senior Managing Director, General Manager, Administration Division; General Manager, Planning Office; General Manager, Accounting Department; in charge of System Development Office; in charge of Safety and Crisis Management Office Apr 2023 Representative Director, President; General Manager, Administration Division Sep 2023 Representative Director, President Apr 2026 Senior Managing Director, General Manager, Administration Division (current)

1975-04-04

Kenji SUGAI

Managing Director, General Manager, Engineering Division

Apr 1987 Joined NOK Corporation Apr 1993 Joined the Company Apr 2003 General Manager, Saitama Sales Office Apr 2005 Deputy General Manager, Planning Office Jun 2005 Director, Deputy General Manager, Planning Office Jun 2006 Director, General Manager, Accounting Department Jun 2011 Managing Director, General Manager, Accounting Department Oct 2012 Managing Director, Deputy General Manager, Planning Office; General Manager, Overseas Preparation Office Apr 2014 Managing Director, in charge of Planning Office Apr 2015 Managing Director, Vice President, NAGAWA DO BRASIL INDÚSTRIA DE CONSTRUÇÕES MODULARES LTDA. Apr 2017 Managing Director, General Manager, Manufacturing Engineering Division Apr 2023 Managing Director, General Manager, Engineering Division (current)

1965-03-27

Maki MIZOGUCHI

Managing Director, General Manager, Manufacturing Division

Apr 1996 Joined the Company Apr 2003 General Manager, Toyama Sales Office Apr 2006 General Manager, Kanazawa Sales Office Apr 2008 General Manager, Nagoya Sales Office Apr 2011 Block Manager, Chubu Block Apr 2013 President, NAGAWA (THAILAND) Co., Ltd. Apr 2017 Block Manager, Kanto No. 1 Block Apr 2019 Executive Officer, General Manager, Sales Division Apr 2022 Executive Officer, Deputy General Manager, Manufacturing Engineering Division Apr 2023 Executive Officer, General Manager, Manufacturing Division Jun 2023 Director, General Manager, Manufacturing Division Apr 2026 Managing Director, General Manager, Manufacturing Division (current)

1972-09-01

Mikio KINOSE

Outside Director

May 1995 Registered with Tokyo Second Bar Association; joined Suzuki & Wada Law Office Apr 2001 Established Suzuki, Wada & Kinose Law Office Dec 2010 Representative Attorney, Suzuki Sogo Law Office Apr 2015 Board Member, Kanto Bar Association Federation Jun 2015 Director of the Company (current) Feb 2020 Representative Attorney, Mikio Kinose Law Office Jun 2024 Attorney, Kiooizaka Themis Sogo Law Office (current)

1960-12-18

Shuji INOOKA

Outside Director

Apr 1972 Joined Yokogawa Bridge Corp. (currently Yokogawa Bridge Holdings Corp.) Apr 2002 Director, Yokogawa System Building Co., Ltd. Jun 2008 Representative Director, President, Yokogawa System Building Co., Ltd. Jun 2016 Advisor, Yokogawa System Building Co., Ltd. Sep 2017 Retired as Advisor, Yokogawa System Building Co., Ltd. Jun 2018 Director of the Company (current)

1949-12-09

Junko TAKAHASHI

Outside Director

Apr 1974 Joined Tokyo Regional Taxation Bureau Jul 2010 Deputy Director, Meguro Tax Office Jul 2012 Chief Investigator, Tokyo Dispatched Investigator, National Tax Agency Jul 2015 Director, Koto-Nishi Tax Office Dec 2017 Representative, Junko Takahashi Tax Accountant Office (current) Jun 2020 Director of the Company (current)

1956-03-22

Manabu TAKAHASHI

Standing Audit & Supervisory Board Member

Mar 1990 Joined the Company Mar 2001 General Manager, Kutchan Sales Office Nov 2003 General Manager, Second Sales Division Jun 2004 Director, General Manager, Second Sales Division Apr 2007 Managing Director, Deputy General Manager, Sales Division Apr 2008 Managing Director, Hokkaido Branch Manager, Sales Division Apr 2010 Managing Director, General Manager, Planning Office Apr 2011 Managing Director, General Manager, Planning Office; General Manager, Overseas Preparation Office Oct 2012 Managing Director, General Manager, Accounting Department Apr 2019 Managing Director, General Manager, General Affairs Department Jun 2020 Senior Executive Officer, General Manager, General Affairs Department Jun 2021 Standing Audit & Supervisory Board Member (current)

1967-05-12

Takao TORIUMI

Outside Audit & Supervisory Board Member

Sep 1977 Joined Tiesteck Co., Ltd. Oct 1983 Joined Asahi Audit Corporation (currently Azsa LLC) as part-time staff Apr 1987 Certified Public Accountant and Certified Tax Accountant; Representative, Toriumi CPA Office (current) Jun 2003 Audit & Supervisory Board Member of the Company (current)

1952-10-11

Nobutaka MOTOHASHI

Outside Audit & Supervisory Board Member

Jun 1971 Joined Ikeda Shoichi Audit Office (currently EY ShinNihon LLC) Mar 1973 Registered as Certified Public Accountant Sep 1990 Appointed Representative Partner, Century Audit Corporation (currently EY ShinNihon LLC) Jun 2008 Left Shin Nihon Audit Corporation (currently EY ShinNihon LLC) Jul 2008 Certified Public Accountant and Certified Tax Accountant; Representative, Nobutaka Motohashi CPA Office (current) Jun 2012 Audit & Supervisory Board Member of the Company (current)

1948-12-16

Large Shareholding Reports