Overview
Wholesale Trade

TRUSCO NAKAYAMA CORPORATION

TRUSCO NAKAYAMA is a leading wholesale distributor of industrial tools, hardware, and factory supply products in Japan, offering over 500,000 SKUs spanning cutting tools, hand tools, safety equipment, logistics/storage products, and office supplies under its proprietary 'TRUSCO' private brand. The company serves manufacturers, construction firms, home centers, and e-commerce retailers through dedicated sales channels including Factory Route, e-Business Route, Home Center Route, and Overseas Route. Its competitive strengths lie in its extensive product catalog (the 'Orange Book'), advanced DX-driven supply chain infrastructure, and expanding international presence in Thailand, Indonesia, the USA, Germany, Taiwan, Hong Kong, and beyond.

Market Cap
¥161B
US$1.03B
EV
¥195B
US$1.24B
Stock¥2,448▼-1.13%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.6
x
LTM EV/EBIT
8.3
x
LTM PER
9.9
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-21.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
161BUS$1.03BMarket Cap105BUS$670M+ Debt67.1BUS$428M− Cash4.12BUS$26.3M− Inv. Sec.195BUS$1.24BEV
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Performance & Balance
Revenue 5Y (¥B)
227US$1.45B'21/12246US$1.57B'22/12268US$1.71B'23/12295US$1.88B'24/12320US$2.04B'25/12
EBITDA 5Y (¥B)
20.0US$127M'21/1221.4US$136M'22/1224.7US$158M'23/1226.1US$166M'24/1228.4US$181M'25/12
Net Income 5Y (¥B)
11.6US$74.0M'21/1210.6US$67.8M'22/1212.3US$78.2M'23/1216.1US$103M'24/1215.9US$101M'25/12
Capital Structure
65%
35%
EquityD/E 0.54xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
44.4US$283M52.0US$332M'21/1242.5US$271M45.0US$287M'22/1245.8US$292M50.0US$319M'23/1244.0US$280M56.5US$360M'24/1250.6US$323M80.0US$510M'25/12
Shareholders
Top 10 hold 53.6%
1
NS Holdings Co., Ltd.
12.01%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
10.09%
3
Nakayama Visual Welfare Foundation (Public Interest Foundation)
6.60%
4
Custody Bank of Japan, Ltd. (Trust Account)
6.48%
5
Daido Shoji Co., Ltd.
5.23%
6
NR Holdings Co., Ltd.
3.58%
7
NF Holdings Co., Ltd.
3.03%
8
Heisei Jitsugyo Ltd.
2.73%
9
SG/UCITS V/INV (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.19%
10
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.62%
Management
9 officers
Tetsuya NAKAYAMA
Representative Director, President
Mar 1981 Joined the Company Oct 1984 Director Dec 1987 Managing Director Dec 1991 Representative Director, Senior Managing Director Dec 1994 Representative Director, President (current)
1958-12-24
Kazuo NAKAI
Director, General Manager of Merchandise Division
Apr 1993 Joined the Company Apr 2004 Branch Manager, HC Osaka Branch Jan 2017 Executive Officer, General Manager of Corporate Planning Department Jan 2019 Executive Officer, General Manager of Administration Division Mar 2019 Director, General Manager of Administration Division Oct 2020 Director, General Manager of Sales Division Oct 2020 Officer in charge of Trusco Nakayama Thailand Oct 2020 Officer in charge of Trusco Nakayama Indonesia Jan 2021 Director, General Manager of Sales Division, concurrently General Manager of Home Center Sales Department and Logistics Department Jan 2022 Director, General Manager of Sales Division Nov 2024 Director, General Manager of Merchandise Division (current) Officer in charge of Trusco Nakayama USA (current)
1969-07-07
Atsushi KAZUMI
Director, General Manager of Administration Division, concurrently General Manager of Digital Strategy Division and General Manager of Orange Book Division
Apr 1993 Joined the Company Apr 2006 Branch Manager, Osaka Branch Jan 2017 Executive Officer, Deputy Manager, e-Business Sales Department (Mail-order) Jan 2019 Executive Officer, Manager, Information Systems Department Mar 2019 Director, General Manager of Information Systems Division Oct 2020 Director, General Manager of Administration Division, concurrently General Manager of Digital Strategy Division and Manager, Digital Promotion Department Jan 2021 Director, General Manager of Administration Division, concurrently General Manager of Digital Strategy Division Apr 2024 Director, General Manager of Administration Division, concurrently General Manager of Digital Strategy Division and General Manager of Orange Book Division (current)
1970-09-10
Tatsuya NAKAYAMA
Director, General Manager of Logistics Division
Apr 2013 Joined the Company Jan 2018 Branch Manager, Mail-order Tokyo No.1 Branch Sep 2019 General Manager, Corporate Planning Department, concurrently General Manager, Accounting Department Dec 2021 Senior Executive Officer, General Manager of Merchandise Division Mar 2023 Director, General Manager of Merchandise Division Nov 2024 Director, General Manager of Logistics Division (current)
1985-08-04
Risa OTA
Director
Apr 2001 Joined Nestlé Japan Ltd. Dec 2011 Joined Dynamic Tool Co., Ltd. Joined Dynex Co., Ltd. Mar 2021 Representative Director, Dynex Co., Ltd. (current) Aug 2022 Representative Director, Dynamic Tool Co., Ltd. (current) Mar 2025 Outside Director of the Company (current)
1977-05-09
Kiyonori KUMOTO
Full-time Audit and Supervisory Board Member
Nov 1986 Joined the Company Dec 1996 Manager, Fukui Sales Office Apr 2004 Manager, Chiba Sales Office Apr 2008 Branch Manager, Okayama Branch Apr 2011 General Manager, Factory Sales Department (East) Apr 2013 General Manager, Overseas Department Sep 2019 General Manager, Factory Sales Department, concurrently General Manager, Logistics Department (East) Jan 2022 General Manager, Factory Sales Department (East) Mar 2024 Full-time Audit and Supervisory Board Member (current)
1962-02-09
Yorito WADA
Part-time Audit and Supervisory Board Member
Apr 1978 Joined Tohmatsu Aoki Audit Corporation Aug 1981 Registered as Certified Public Accountant Jun 1996 Partner, Audit Corporation Tohmatsu Jun 2019 Part-time Audit and Supervisory Board Member, NIPPON SHOKUBAI CO., LTD. Apr 2020 Part-time Audit and Supervisory Board Member, Sekisui House, Ltd. (current) Mar 2023 Part-time Audit and Supervisory Board Member of the Company (current)
1955-10-23
Ken HINONO
Part-time Audit and Supervisory Board Member
Oct 2003 Joined Audit Corporation Tohmatsu Jul 2007 Registered as Certified Public Accountant Aug 2007 Representative Director, Action Learning Co., Ltd. (current) Aug 2007 Representative, Hinono CPA Office (current) Dec 2019 Representative Partner, Hinono Accounting Tax Accountant Corporation (current) Mar 2023 Part-time Audit and Supervisory Board Member of the Company (current)
1979-08-23
Masataka NASHIDA
Director
Jan 1972 Joined Kintetsu Buffaloes Jan 2000 Manager, Osaka Kintetsu Buffaloes Jan 2008 Manager, Hokkaido Nippon-Ham Fighters Oct 2012 Fielders' General Coach, Japan National Team, 2013 World Baseball Classic Jan 2016 Manager, Tohoku Rakuten Golden Eagles Mar 2026 Outside Director of the Company (scheduled) Currently baseball commentator and critic
1953-08-04
Large Shareholding Reports
Mizuho Securities Co., Ltd.
2026-10-22
5.10%→5.10%
Nakayama Vision Welfare Foundation
2026-09-24
6.59%→6.59%
Annual report (as of 2026-06-30): 6.60%
Mizuho Securities Co., Ltd.
2026-07-23
5.10%→5.10%
Mizuho Securities Co., Ltd.
2026-07-07
5.12%→5.10%
Daido Shoji Co., Ltd.
2026-07-02
5.23%→5.23%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-06-30): 5.23%
Daido Shoji Co., Ltd.
2026-06-29
5.23%→5.23%
Annual report (as of 2026-06-30): 5.23%
Nakayama Vision Welfare Foundation
2026-06-29
6.59%→6.59%
Annual report (as of 2026-06-30): 6.60%
Mizuho Securities Co., Ltd.
2026-05-12
5.15%→5.12%
Mizuho Securities Co., Ltd.
2026-04-22
5.15%→5.15%
Mizuho Securities Co., Ltd.
2026-04-07
5.12%→5.15%
Nakayama Vision Welfare Foundation
2026-03-30
6.59%→6.59%
Annual report (as of 2026-06-30): 6.60%
Mizuho Securities Co., Ltd.
2026-03-06
5.14%→5.12%
Mizuho Securities Co., Ltd.
2026-01-22
5.15%→5.14%
Mizuho Securities Co., Ltd.
2026-01-09
5.11%→5.15%
Nakayama Vision Welfare Foundation
2026-01-06
6.59%→6.59%
Annual report (as of 2026-06-30): 6.60%
Nakayama Vision Welfare Foundation
2025-09-29
6.59%→6.59%
Annual report (as of 2026-06-30): 6.60%
Mizuho Securities Co., Ltd.
2025-08-07
5.11%→5.11%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-22
Large Shareholding Report
EDINET
2026-09-24
Large Shareholding Report
EDINET
2026-08-10
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-07
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-07-07
Large Shareholding Report
EDINETAmended
2026-07-02
Change Report
EDINET
2026-06-29
Large Shareholding Report
EDINET
2026-06-29
Large Shareholding Report
EDINET
2026-05-12
Large Shareholding Report
TDnet
2026-04-30
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-03-30
Large Shareholding Report
EDINET
2026-03-18
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-01-22
Large Shareholding Report
EDINET
2026-01-09
Large Shareholding Report
EDINET
2026-01-06
Large Shareholding Report
EDINETAmended
2025-11-19
Amended Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-10-31
Q3 Earnings Flash
EDINET
2025-09-29
Large Shareholding Report
EDINET
2025-08-13
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-08-07
Large Shareholding Report
TDnet
2025-04-30
Q1 Earnings Flash
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-13
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-10
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
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