Shinagawa Refractories Co., Ltd. logo

Shinagawa Refractories Co., Ltd.

5351.T

JPXBasic MaterialsConstruction Materials

Latest quote

¥2,100

+¥33.00 · +1.60%

Aug 24, 3:30 PM JST

5351.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Established in Tokyo, Japan, in 1875, Shinagawa Refractories Co., Ltd. is a prominent manufacturer and supplier of a wide array of high-temperature resistant materials. Their extensive product catalog includes various shaped refractory bricks, such as basic, carbon-containing, fire clay, high alumina, silicon carbide, and silica varieties. They also offer monolithic refractories like castable and gunning compounds, precast forms, plastic and ramming mixtures, and refractory mortars. The company provides specialized functional products, including slide gate plate bricks, submerged entry nozzles, monoblock stoppers, ladle shrouds, Eddy current level meters, and mold powder designed for continuous casting processes. Beyond traditional refractories, Shinagawa also produces ceramic fiber in diverse formats such as modules, preformed shapes, insulating boards, sheets, and gaskets. Their advanced fine ceramics, encompassing high-precision large-sized parts made from materials like alumina, zirconia, silicon carbide, a-Sialon, and porous ceramics, are crucial for the liquid crystal and semiconductor manufacturing sectors. Additionally, their offerings extend to multifunctional absorbents, desiccants, inorganic heat-resistant paints, and adhesives, along with other related items. Complementing their manufacturing expertise, the company specializes in the design, installation, and ongoing maintenance of various industrial furnaces and kilns. These robust solutions serve critical industries globally, including steel, cement, glass, chemical, and waste disposal. Shinagawa Refractories maintains a significant international presence, exporting its specialized engineering and refractory products to approximately 50 nations.

Industry
Construction Materials
Sector
Basic Materials
Headquarters
JP
CEO
Hiroyuki Fujiwara
Listed since
Jan 1, 2001
Employees
9,089

Market position

Day range

Current ¥2,100

52-week range

Current ¥2,100

Open
¥2,082
Previous close
¥2,067
Volume
111.5K
1.04× average
Average volume
107.53K
Average daily volume
Market cap
95.83B JPY
Beta
0.54
Market reference 1
50-day average
¥1,995.08
+5.26% above average
200-day average
¥2,051.46
+2.37% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
115.74B JPY
P/E (TTM)
3.31×
P/B (TTM)
0.87×
P/S (TTM)
0.52×
EV / EBITDA
2.17×
Earnings yield
28.07%
Free cash flow yield
4.51%
Dividend yield
4.29%

Profitability & efficiency

Gross margin
22.95%
Operating margin
6.69%
Net margin
15.58%
Return on equity
24.38%
Return on assets
11.25%
Return on invested capital
4.52%

Financial health

Debt / equity
0.46×
Current ratio
1.76×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends26%19%11%3%Gross margin, FY2021: 22.17%Gross margin, FY2022: 21.94%Gross margin, FY2023: 22.91%Gross margin, FY2024: 24.39%Gross margin, FY2025: 24.19%Operating margin, FY2021: 9.12%Operating margin, FY2022: 8.68%Operating margin, FY2023: 9.63%Operating margin, FY2024: 9.20%Operating margin, FY2025: 7.66%Net margin, FY2021: 4.79%Net margin, FY2022: 6.65%Net margin, FY2023: 10.60%Net margin, FY2024: 6.79%Net margin, FY2025: 14.67%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 22.17%. Gross margin FY2022 21.94%. Gross margin FY2023 22.91%. Gross margin FY2024 24.39%. Gross margin FY2025 24.19%. Operating margin FY2021 9.12%. Operating margin FY2022 8.68%. Operating margin FY2023 9.63%. Operating margin FY2024 9.20%. Operating margin FY2025 7.66%. Net margin FY2021 4.79%. Net margin FY2022 6.65%. Net margin FY2023 10.60%. Net margin FY2024 6.79%. Net margin FY2025 14.67%.

Income trends

Revenue

177.74B JPY+23.37%

Operating income

13.61B JPY+2.65%

Net income

26.07B JPY+166.64%
Income trends across reported periods194.98B JPY126.01B JPY57.04B JPY−11.94B JPYRevenue, FY2021: 110.78B JPYRevenue, FY2022: 124.96B JPYRevenue, FY2023: 144.18B JPYRevenue, FY2024: 144.07B JPYRevenue, FY2025: 177.74B JPYOperating income, FY2021: 10.11B JPYOperating income, FY2022: 10.84B JPYOperating income, FY2023: 13.89B JPYOperating income, FY2024: 13.26B JPYOperating income, FY2025: 13.61B JPYNet income, FY2021: 5.31B JPYNet income, FY2022: 8.31B JPYNet income, FY2023: 15.28B JPYNet income, FY2024: 9.78B JPYNet income, FY2025: 26.07B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 110.78B JPY. Revenue FY2022 124.96B JPY. Revenue FY2023 144.18B JPY. Revenue FY2024 144.07B JPY. Revenue FY2025 177.74B JPY. Operating income FY2021 10.11B JPY. Operating income FY2022 10.84B JPY. Operating income FY2023 13.89B JPY. Operating income FY2024 13.26B JPY. Operating income FY2025 13.61B JPY. Net income FY2021 5.31B JPY. Net income FY2022 8.31B JPY. Net income FY2023 15.28B JPY. Net income FY2024 9.78B JPY. Net income FY2025 26.07B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue177.74B JPY144.07B JPY144.18B JPY124.96B JPY110.78B JPY
Cost of goods sold134.75B JPY108.93B JPY111.14B JPY97.55B JPY86.23B JPY
Gross profit42.99B JPY35.14B JPY33.03B JPY27.41B JPY24.56B JPY
Research and development1.55B JPY1.38B JPY1.24B JPY
Selling, general, and administrative29.38B JPY21.87B JPY17.64B JPY16.57B JPY14.45B JPY
Operating expenses29.38B JPY21.89B JPY19.15B JPY16.57B JPY14.45B JPY
Interest income680M JPY372M JPY165M JPY35M JPY29M JPY
Interest expense1.34B JPY732M JPY219M JPY174M JPY95M JPY
Depreciation and amortization8.52B JPY4.67B JPY3.81B JPY2.93B JPY2.68B JPY
Operating income13.61B JPY13.26B JPY13.89B JPY10.84B JPY10.11B JPY
Net income26.07B JPY9.78B JPY15.28B JPY8.31B JPY5.31B JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
102.55

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates613.9363.38112.85-137.67Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 7, 2024: actual 43.79, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 6, 2025: actual 66.08, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 15, 2025: actual 40.65, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 8, 2025: actual 38.54, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 11, 2025: actual 56.68, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 5, 2026: actual 562.07, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 15, 2026: actual -85.84, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 10, 2026: actual 102.55, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates50.13B44.23B38.33B32.43BQ4 '24MissQ1 '25BeatQ2 '25BeatQ3 '25No estimateQ4 '25No estimateQ1 '26No estimateQ2 '26No estimateQ3 '26No estimate
Q4 2024, reported Nov 7, 2024: actual 34.36B JPY, estimate 36.05B JPY, surprise -4.67%, Miss. Q1 2025, reported Feb 6, 2025: actual 36.86B JPY, estimate 36.17B JPY, surprise +1.93%, Beat. Q2 2025, reported May 15, 2025: actual 38.98B JPY, estimate 36.67B JPY, surprise +6.31%, Beat. Q3 2025, reported Aug 8, 2025: actual 38.27B JPY, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 11, 2025: actual 43.58B JPY, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 5, 2026: actual 48.2B JPY, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 15, 2026: actual 47.69B JPY, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 10, 2026: actual 46.59B JPY, estimate —, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Stock split

Effective Sep 28, 2023

5:1

Stock split

Effective Sep 27, 2017

1:10

5351.T peers

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