Overview
Services

NIKKEN KOGAKU CO.,LTD.

Nikken Kogaku operates two core business segments: a steel mold leasing business for the manufacture of wave-dissipating and foundation blocks (tetrapods and similar coastal protection units), and a product sales business covering concrete secondary products such as revetment blocks, connected natural stone products, and civil engineering sheet products for erosion prevention, scouring prevention, and waterproofing. The company serves civil engineering and coastal/river infrastructure markets primarily in Japan, supplying products through a network of partner manufacturing facilities. Its competitive strengths lie in its proprietary block and sheet technologies developed over 60 years, including brands such as Stella Sheet, Tairock, Grasp, and EVicon, covering a broad range of coastal, riverbank, and environmental protection applications.

Market Cap
¥3.00B
US$19.1M
EV
¥-0.61B
-US$3.90M
Stock¥1,644▼-0.06%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
7.6
x
LTM PBR
0.6
x
2026-08-25 closing price basis: ranked #95 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-7B).
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-14.2%pt
100
Oct 23, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
3.00BUS$19.1MMarket Cap0.18BUS$1.15M+ Debt2.54BUS$16.2M− Cash1.26BUS$8.02M− Inv. Sec.0.01BUS$0.06M+ NCI-0.61B-US$3.90MEV
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Performance & Balance
Revenue 5Y (¥B)
8.32US$53.0M'22/36.25US$39.8M'23/36.19US$39.4M'24/35.52US$35.1M'25/36.21US$39.5M'26/3
EBITDA 5Y (¥B)
1.05US$6.69M'22/30.59US$3.78M'23/30.48US$3.07M'24/30.48US$3.03M'25/30.52US$3.28M'26/3
Net Income 5Y (¥B)
0.66US$4.22M'22/30.28US$1.78M'23/30.28US$1.81M'24/30.28US$1.80M'25/30.28US$1.79M'26/3
Capital Structure
97%
EquityD/E 0.04xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
3.42US$21.8M0.73US$4.67M'22/33.66US$23.3M0.81US$5.15M'23/33.93US$25.0M0.51US$3.27M'24/33.72US$23.7M0.32US$2.06M'25/33.74US$23.8M0.18US$1.12M'26/3
Shareholders
Top 10 hold 54.2%
1
Giken Holdings Co.,Ltd.
16.78%
2
Erika KIKUCHI
6.06%
3
NAGAWA CO.,Ltd
5.92%
4
Hikari Tsushin KK Investment Limited Partnership (General Partner: Hikari Tsushin, Inc.)
5.37%
5
Trillion Investment Limited Partnership (General Partner: Fuel Co., Ltd.)
4.05%
6
Custody Bank of Japan, Ltd. (Trust Account)
3.88%
7
JDC CORPORATION
3.31%
8
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
3.10%
9
Masatoshi IMAI
2.99%
10
FREESIA MACROSS CORPORATION
2.77%
Management
10 officers
Yoji MINAGAWA
Representative Director, President
Apr 1983 Joined the Company Apr 2004 Executive Officer, General Manager of Finance and Accounting Division, the Company Jun 2009 Director, General Manager of Administration Division and General Manager of Human Resources Development Planning Office, the Company Dec 2010 Director, General Manager of Administration Division and General Manager of Business Division, the Company Apr 2014 Director, General Manager of Finance Division and General Manager of Business Management Division, the Company Jun 2015 Managing Director, the Company Apr 2016 Representative Director, President, the Company (current)
1956-10-04
Tsuyoshi UEDA
Managing Director
Apr 1984 Joined the Ministry of Construction Jul 2005 Section Chief, Development Division, Ports and Harbours Bureau, Ministry of Land, Infrastructure, Transport and Tourism (MLIT) Jul 2011 General Manager, River Division, Kyushu Regional Development Bureau, MLIT Jul 2013 General Manager, Construction Policy Department, Kinki Regional Development Bureau, MLIT Jul 2015 General Manager, Planning Department, Public Works Research Institute Oct 2017 Joined the Company Jun 2018 Managing Director, the Company (current)
1958-07-20
Kazuya AIDA
Director
Apr 1998 Joined the Company Apr 2010 Manager, Chubu Sales Office, the Company Apr 2013 Manager, Chubu Sales Office, East Japan Business Division, the Company Apr 2015 Deputy Manager, Section 1, National Land Conservation Business, Business Division, the Company Apr 2019 Manager, River and Sabo Section, Business Division, the Company Apr 2021 Deputy General Manager, Wave-Dissipating Block and Revetment Business Division, the Company Apr 2025 General Manager, Administration Division and General Manager, Wave-Dissipating Block and Revetment Business Division, the Company Jun 2025 Director, the Company (current)
1975-06-27
Masaya SAKATA
Director
Apr 2000 Joined the Company Apr 2010 Manager, Hokuriku Sales Office, the Company Apr 2014 Manager, Kanto Sales Office, East Japan Business Division, the Company Apr 2018 Manager, Kanto-Shinetsu Sales Office, the Company Apr 2022 Deputy General Manager, Product Sales Business Division, and Manager, Kanto-Shinetsu Sales Office, the Company Apr 2024 Deputy General Manager, Product Sales Business Division, the Company Apr 2025 General Manager, Product Sales Business Division, the Company Jun 2025 Director, the Company (current)
1976-06-26
Hirokazu NISHIMURA
Director
Apr 2001 Joined the Company Apr 2010 Deputy Manager, Technical Proposal Promotion Department, the Company Apr 2015 Head, Reconstruction Office, Tohoku Reconstruction Business Division, the Company Apr 2016 Section Manager 2, National Land Conservation Business, Business Division, the Company Apr 2018 Section Manager, Marine Business, Business Division, the Company Apr 2024 Deputy General Manager, Engineering Department, and Deputy Director, Carbon Neutral Promotion Office, the Company Apr 2025 General Manager, Engineering Department, and Director, Carbon Neutral Promotion Office, the Company Jun 2025 Director, the Company (current)
1977-06-17
Makoto KANAGI
Director
Apr 1977 Joined the Ministry of Construction Apr 1995 Office Director, Agano River Construction Office, Hokuriku Regional Construction Bureau, Ministry of Construction Apr 2006 Senior Researcher, River Basin Management, River Department, National Institute for Land and Infrastructure Management, MLIT Apr 2007 Director, CORINS/TECRIS Center, Japan Construction Information Center Foundation Aug 2009 Full-time Advisor, Nihon Kiso Gijutsu Co., Ltd. Apr 2019 Advisor, Nihon Shinko Co., Ltd. Jun 2019 Managing Director, Genba Gijutsu Doboku Sekko Kanri Gishikai (Site Technology Civil Engineering Construction Management Engineers Association) Jun 2021 Director, the Company (current)
1953-10-02
Tadashi DAIMON
Standing Corporate Auditor
Apr 1980 Joined the Company Apr 2004 Executive Officer, General Manager, Kanto Sales Division, the Company Apr 2013 Executive Officer, General Manager, Western Japan Business Division, the Company Apr 2015 Executive Officer, General Manager, Business Division, the Company Jun 2017 Director, in charge of Administration and Technology Divisions, the Company Jun 2025 Advisor, the Company Jun 2026 Corporate Auditor, the Company (current)
1957-05-22
Katsutoshi ENDO
Corporate Auditor
Jul 1999 Director, Kamata Tax Office Sep 2000 Opened Katsutoshi Endo Tax Accountant Office (current) Jun 2004 Corporate Auditor, the Company (current)
1942-06-05
Hiroyuki TAKAYASU
Corporate Auditor
Aug 1989 Registered as Certified Public Accountant Oct 1990 Joined Taiyo Audit Corporation (now Taiyo LLC) Mar 2001 Left Taiyo Audit Corporation Apr 2001 Opened Hiroyuki Takayasu Certified Public Accountant Office Aug 2004 Registered as Certified Tax Accountant Jun 2020 Corporate Auditor, the Company (current)
1959-01-24
Daichi TAKAGI
Director
Dec 2007 Joined Kansai Law and Patent Office (Attorney Corporation) Jan 2013 Partner Attorney, Kansai Law and Patent Office (Attorney Corporation) (current) Jun 2023 Director, the Company (current)
1980-03-02
Large Shareholding Reports
Koutsushin Co., Ltd.
2026-06-05
6.11%→7.27%
Giken Holdings Co., Ltd.
2026-02-17
7.10%→16.77%
Annual report (as of 2026-03-31): 16.78%
Koutsushin Co., Ltd.
2025-09-29
6.09%→6.11%
Koutsushin Co., Ltd.
2025-08-01
5.09%→6.09%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-05
Large Shareholding Report
EDINET
2026-02-17
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
EDINET
2025-09-29
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-01
Large Shareholding Report
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
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
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINETAmended
2022-12-26
Amended Annual Securities Report
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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