Overview
Services

HORAI Co.,Ltd.

Hourai Co., Ltd. is a diversified Japanese company operating across four core segments: insurance agency services (non-life and life insurance), real estate leasing and brokerage centered on company-owned buildings in Tokyo, the Senbonmatsu Ranch (integrated dairy farming, dairy product manufacturing/sales, and tourist/restaurant facilities in Tochigi Prefecture), and golf course operations (Hourai Country Club and Nishi-Nasuno Country Club). The company leverages its long-established land holdings in the Nishi-Nasuno area of Tochigi Prefecture as a key asset underpinning its ranch and golf businesses. Its diversified revenue base spans recurring income from insurance commissions and property leasing alongside leisure and agricultural operations.

Market Cap
¥8.80B
US$56.1M
EV
¥8.96B
US$57.1M
Stock¥2,099▼-1.55%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.4
x
LTM EV/EBIT
12.5
x
LTM PER
15.5
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-11.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
8.80BUS$56.1MMarket Cap2.97BUS$19.0M+ Debt1.95BUS$12.4M− Cash0.86BUS$5.51M− Inv. Sec.8.96BUS$57.1MEV
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Performance & Balance
Revenue 5Y (¥B)
4.85US$30.9M'21/94.94US$31.5M'22/95.19US$33.1M'23/95.48US$34.9M'24/96.11US$39.0M'25/9
EBITDA 5Y (¥B)
0.53US$3.35M'21/90.76US$4.87M'22/90.87US$5.53M'23/90.95US$6.06M'24/91.07US$6.81M'25/9
Net Income 5Y (¥B)
0.21US$1.36M'21/90.47US$3.00M'22/90.51US$3.27M'23/90.31US$1.96M'24/90.50US$3.17M'25/9
Capital Structure
77%
23%
EquityD/E 0.29xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
4.51US$28.7M3.10US$19.8M'21/94.27US$27.2M2.95US$18.8M'22/94.20US$26.8M2.81US$17.9M'23/93.14US$20.0M3.19US$20.3M'24/92.80US$17.9M3.04US$19.4M'25/9
Shareholders
Top 10 hold 57.3%
1
Muromachi Building Service Co., Ltd.
12.74%
2
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED - HONG KONG PRIVATE BANKING DIVISION CLIENT A/C 8028-394841 (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
7.25%
3
Teikoku Soko Co., Ltd.
7.16%
4
Muromachi Shokusan Co., Ltd.
7.09%
5
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793 (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
5.49%
6
Sumitomo Mitsui Banking Corporation
4.96%
7
NIPPON PARKING DEVELOPMENT Co.,Ltd.
4.96%
8
HORAI Co.,Ltd. Employee Stock Ownership Association
2.77%
9
Masao YOSHIMOTO
2.47%
10
Snowball Capital Co., Ltd.
2.38%
Management
11 officers
Toshiyuki TERAMOTO
Representative Director, Chairman and Executive Officer
Apr 1981 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); later Director and Senior Managing Executive Officer Jun 2015 Director, Sumitomo Mitsui Financial Group, Inc. Jun 2019 Joined the Company; Executive Vice President and Executive Officer Dec 2019 Representative Director, President and Executive Officer Mar 2024 Outside Director (Audit and Supervisory Committee Member), Toagosei Co., Ltd. (current) Oct 2024 Representative Director, Chairman and Executive Officer, CEO Jun 2025 Outside Director (Audit and Supervisory Committee Member), Asax Co., Ltd. (current) Oct 2025 Representative Director, Chairman and Executive Officer Dec 2025 Representative Director, Chairman (current)
1958-09-15
Naoki ONO
Representative Director, President and Executive Officer, CEO
Apr 1984 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); later Director and Senior Managing Executive Officer Apr 2017 Senior Managing Executive Officer, Sumitomo Mitsui Financial Group, Inc. Apr 2019 President and Representative Director, CEDYNA Corporation (now Mitsui Sumitomo Card Company, Limited) Jul 2020 President and Representative Director, SMBC Finance Service Co., Ltd. (now Mitsui Sumitomo Card Company, Limited) Apr 2024 Joined the Company; Executive Vice President and Executive Officer Oct 2024 President and Executive Officer, COO; in charge of Golf Business Division and General Manager, Golf Business Division Dec 2024 Representative Director, President and Executive Officer, COO; in charge of Golf Business Division and General Manager, Golf Business Division Oct 2025 Representative Director, President and Executive Officer, CEO (current)
1961-12-26
Tetsuya HAGIO
Director, Senior Managing Executive Officer, CFO and CIO; General Manager, General Planning Department; in charge of Finance Planning Department, IT Division, Public Relations Department and Real Estate Business Division
Apr 1985 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); Senior Manager, Corporate Information Department Apr 2012 Joined the Company; Senior Manager, Operations Department, Insurance Business Division Aug 2012 General Manager, Operations Department, Insurance Business Division; General Manager, Sales Administration Department, Tokyo Insurance Department Oct 2014 General Manager, General Planning Department Dec 2014 Executive Officer, General Manager, General Planning Department Dec 2015 Director and Executive Officer, General Manager, General Planning Department and Head of Systems Office Dec 2017 Managing Director and Managing Executive Officer, General Manager, General Planning Department Dec 2018 Director and Managing Executive Officer, General Manager, General Planning Department; in charge of Finance Planning Department and Systems Office Apr 2020 Director and Managing Executive Officer; in charge of Real Estate Business Division in addition to the above Oct 2022 Director and Senior Managing Executive Officer, General Manager, General Planning Department; in charge of Finance Planning, IT and Real Estate Business Divisions Oct 2024 Director and Senior Managing Executive Officer, CFO and CIO, General Manager, General Planning Department; in charge of Finance Planning, IT Division, Public Relations Department and Real Estate Business Division (current)
1962-02-19
Teiichi MORIKAWA
Director, Senior Managing Executive Officer; Director, Senbonmatsu Office; General Manager, Senbonmatsu Ranch Division; in charge of Golf Business Division
Apr 1987 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); Assistant to the Audit Committee, Sumitomo Mitsui Financial Group, Inc. Apr 2021 Joined the Company; Assistant to the President Jul 2021 Executive Assistant to the President (special assignment) Dec 2021 Executive Officer, Executive Assistant to the President (special assignment) Oct 2022 Managing Executive Officer, General Manager, Human Resources Department; in charge of General Affairs Department and special assignment Dec 2022 Director and Managing Executive Officer, General Manager, Human Resources Department; in charge of General Affairs Department and special assignment Oct 2023 Director and Senior Managing Executive Officer, Director, Senbonmatsu Office; in charge of Senbonmatsu Ranch Division and Golf Business Division Oct 2024 Director and Senior Managing Executive Officer, Director, Senbonmatsu Office; General Manager, Senbonmatsu Ranch Division; Deputy in charge of Golf Business Division Oct 2025 Director and Senior Managing Executive Officer, Director, Senbonmatsu Office; General Manager, Senbonmatsu Ranch Division; in charge of Golf Business Division (current)
1963-10-10
Masaki OSHIMA
Director, Managing Executive Officer, CRO; General Manager, Human Resources Department; in charge of General Affairs Department
Apr 1989 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); Branch Manager, Mitadori Area Branch May 2017 Joined the Company; Deputy General Manager, General Affairs Department Jul 2017 General Manager, General Affairs Department Dec 2017 Executive Officer, General Manager, General Affairs Department Oct 2023 Executive Officer, General Manager, General Affairs and Human Resources Departments; special assignment Nov 2023 Executive Officer, General Manager, Human Resources Department; in charge of General Affairs Department and special assignment Dec 2023 Director and Executive Officer, General Manager, Human Resources Department; in charge of General Affairs Department and special assignment Oct 2024 Director and Managing Executive Officer, CRO, General Manager, Human Resources Department, General Manager, Work Style Challenge Office; in charge of General Affairs Department (current)
1964-06-25
Masanori SHIBATA
Director
Apr 1997 Registered with Tokyo Bar Association; joined Komon Chuo Law Office Apr 2006 Partner, Komon Chuo Law Office (current) Mar 2007 Delegate, Japan Federation of Bar Associations Apr 2007 Councillor, Tokyo Bar Association Dec 2015 Director of the Company (current)
1970-10-20
Takaaki MUTO
Director
Jun 1979 Joined Mitsukoshi, Ltd. (now Isetan Mitsukoshi Ltd.) After serving as Managing Executive Officer and General Manager, Risk Management Office, Isetan Mitsukoshi Holdings Ltd. Jun 2018 Director and Managing Executive Officer, CACO, Isetan Mitsukoshi Holdings Ltd. Apr 2019 Director and Managing Executive Officer, CAO, Isetan Mitsukoshi Holdings Ltd. Dec 2020 Director of the Company (current)
1956-11-28
Akiko AME
Director
Apr 1980 Joined Japan Airlines Co., Ltd. Dec 2002 Cabin Services Department (cabin crew management) Dec 2005 Advertising Department (ground management) Mar 2009 Cabin Quality Planning Department (cabin crew management) Jan 2015 Professor, Department of Business Design, Faculty of Global Business, Showa Women's University (current) Dec 2024 Director of the Company (current)
1960-03-22
Yoshio MORIJIRI
Full-time Audit & Supervisory Board Member
Apr 1983 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); later Executive Officer, General Manager, East Japan First Corporate Sales Division Jun 2015 President and Representative Director, Human Inventory Co., Ltd. (now SMBC Human Career Co., Ltd.) Jun 2019 President and Representative Director, Muromachi Building Service Co., Ltd. Jun 2023 Chairman and Representative Director, Muromachi Building Service Co., Ltd. Jun 2024 Outside Director, Nippon Coke & Engineering Co., Ltd. (current) Oct 2024 Joined the Company; Assistant to the President Dec 2024 Audit & Supervisory Board Member (current)
1960-11-06
Makoto KUNIYOSHI
Audit & Supervisory Board Member
Apr 1979 Joined The Mitsui Bank, Limited (now Sumitomo Mitsui Banking Corporation); later Executive Officer, General Manager, East Japan Second Corporate Sales Division Jun 2008 Representative Director and Senior Managing Director, SMBC Consulting Co., Ltd. Jun 2011 Director and Managing Executive Officer, Tsugami Corporation Apr 2017 President (Representative Director), Japan American Football Association Jun 2017 Director and Vice President, SMBC Finance Service Co., Ltd. (now Mitsui Sumitomo Card Company, Limited) Dec 2019 Audit & Supervisory Board Member of the Company (current)
1956-12-06
Masaharu KUBO
Audit & Supervisory Board Member
Apr 1980 Joined Mitsui Petrochemical Industries, Ltd. (now Mitsui Chemicals, Inc.); later Director, General Manager, Legal Affairs Department Apr 2010 Executive Officer, General Manager, General Affairs Department, Mitsui Chemicals, Inc. Jun 2013 Director and Managing Executive Officer, Mitsui Chemicals, Inc. Apr 2016 Representative Director and Senior Managing Executive Officer, CFO, Mitsui Chemicals, Inc. Apr 2017 Representative Director and Executive Vice President, Executive Officer, CFO, Mitsui Chemicals, Inc. Jun 2020 Full-time Audit & Supervisory Board Member, Mitsui Chemicals, Inc. Dec 2023 Audit & Supervisory Board Member of the Company (current)
1957-02-09
Large Shareholding Reports
Nippon Parking Development Co., Ltd.
2026-10-14
5.00%
Annual report (as of 2026-03-31): 4.96%
Disclosures
Executive Change
2026-09-29
Primary Source Filings
EDINET
2026-10-14
Large Shareholding Report
TDnet
2026-09-29
Executive Change
TDnet
2026-07-30
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-05-01
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
TDnet
2026-01-29
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-16
Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-07-30
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-01
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-01-30
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-23
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-01
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-01
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-22
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-01
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-01
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-01
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-23
Annual Securities Report
EDINET
2022-08-01
Quarterly Securities Report
EDINET
2022-05-02
Quarterly Securities Report
EDINET
2022-02-01
Quarterly Securities Report
EDINET
2021-12-17
Annual Securities Report
EDINET
2021-08-02
Quarterly Securities Report
EDINET
2021-05-06
Quarterly Securities Report
EDINET
2021-02-01
Quarterly Securities Report
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