GoAI
Get started
Fuluhashi EPO Corporation logo

Fuluhashi EPO Corporation

9221.T

JPXIndustrialsWaste Management

Open in GoAI

Latest quote

¥1,150

+¥17.00 · +1.50%

Aug 24, 3:30 PM JST

9221.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Fuluhashi EPO Corporation, based in Nagoya, Japan, primarily focuses on the revalorization and processing of timber waste within the country. The company's diverse activities include distributing reclaimed wood chips, recycling construction site by-products, and fabricating and supplying wooden pallets. Furthermore, it participates in renewable energy generation through biomass power and provides management and support services for unoccupied residential properties. Established in 1947, the firm was known as FULUHASHI CORPORATION until it adopted its current name, Fuluhashi EPO Corporation, in April 2008.

Industry
Waste Management
Sector
Industrials
Headquarters
JP
CEO
Naohiko Yamaguchi
Listed since
Apr 21, 2022
Employees
487

Market position

Day range

Current ¥1,150

52-week range

Current ¥1,150

Open
¥1,138
Previous close
¥1,133
Volume
76.9K
2.49× average
Average volume
30.92K
Average daily volume
Market cap
13.33B JPY
Beta
0.54
Market reference 1
50-day average
¥1,189.7
-3.34% below average
200-day average
¥1,238.73
-7.16% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
18.27B JPY
P/E (TTM)
15.18×
P/B (TTM)
2.15×
P/S (TTM)
1.32×
EV / EBITDA
9.47×
Earnings yield
6.16%
Free cash flow yield
-3.60%
Dividend yield
2.61%

Profitability & efficiency

Gross margin
43.77%
Operating margin
11.54%
Net margin
8.72%
Return on equity
14.34%
Return on assets
6.42%
Return on invested capital
6.69%

Financial health

Debt / equity
0.86×
Current ratio
0.55×
Altman Z-score
2.11
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends50%33%16%-1%Gross margin, FY2021: 43.94%Gross margin, FY2022: 44.24%Gross margin, FY2023: 46.00%Gross margin, FY2024: 45.77%Gross margin, FY2025: 44.27%Operating margin, FY2021: 10.20%Operating margin, FY2022: 10.39%Operating margin, FY2023: 11.88%Operating margin, FY2024: 12.28%Operating margin, FY2025: 11.74%Net margin, FY2021: 7.38%Net margin, FY2022: 9.21%Net margin, FY2023: 3.01%Net margin, FY2024: 11.01%Net margin, FY2025: 8.90%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 43.94%. Gross margin FY2022 44.24%. Gross margin FY2023 46.00%. Gross margin FY2024 45.77%. Gross margin FY2025 44.27%. Operating margin FY2021 10.20%. Operating margin FY2022 10.39%. Operating margin FY2023 11.88%. Operating margin FY2024 12.28%. Operating margin FY2025 11.74%. Net margin FY2021 7.38%. Net margin FY2022 9.21%. Net margin FY2023 3.01%. Net margin FY2024 11.01%. Net margin FY2025 8.90%.

Income trends

Revenue

10.01B JPY+6.65%

Operating income

1.17B JPY+1.91%

Net income

890.7M JPY-13.80%
Income trends across reported periods10.98B JPY7.08B JPY3.19B JPY−711.21M JPYRevenue, FY2021: 7.72B JPYRevenue, FY2022: 8.08B JPYRevenue, FY2023: 8.75B JPYRevenue, FY2024: 9.38B JPYRevenue, FY2025: 10.01B JPYOperating income, FY2021: 787.43M JPYOperating income, FY2022: 839.03M JPYOperating income, FY2023: 1.04B JPYOperating income, FY2024: 1.15B JPYOperating income, FY2025: 1.17B JPYNet income, FY2021: 569.71M JPYNet income, FY2022: 743.72M JPYNet income, FY2023: 263.27M JPYNet income, FY2024: 1.03B JPYNet income, FY2025: 890.7M JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 7.72B JPY. Revenue FY2022 8.08B JPY. Revenue FY2023 8.75B JPY. Revenue FY2024 9.38B JPY. Revenue FY2025 10.01B JPY. Operating income FY2021 787.43M JPY. Operating income FY2022 839.03M JPY. Operating income FY2023 1.04B JPY. Operating income FY2024 1.15B JPY. Operating income FY2025 1.17B JPY. Net income FY2021 569.71M JPY. Net income FY2022 743.72M JPY. Net income FY2023 263.27M JPY. Net income FY2024 1.03B JPY. Net income FY2025 890.7M JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue10.01B JPY9.38B JPY8.75B JPY8.08B JPY7.72B JPY
Cost of goods sold5.58B JPY5.09B JPY4.73B JPY4.5B JPY4.33B JPY
Gross profit4.43B JPY4.3B JPY4.03B JPY3.57B JPY3.39B JPY
Research and development—28.49M JPY36.93M JPY32.1M JPY38.68M JPY
Selling, general, and administrative3.26B JPY3.11B JPY2.95B JPY2.7B JPY2.56B JPY
Operating expenses3.26B JPY3.14B JPY2.99B JPY2.73B JPY2.6B JPY
Interest income912K JPY453K JPY168K JPY88K JPY100K JPY
Interest expense63.12M JPY42.99M JPY37.53M JPY43.45M JPY48.46M JPY
Depreciation and amortization754.89M JPY609.71M JPY549.04M JPY498.38M JPY463.9M JPY
Operating income1.17B JPY1.15B JPY1.04B JPY839.03M JPY787.43M JPY
Net income890.7M JPY1.03B JPY263.27M JPY743.72M JPY569.71M JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
13.97

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates31.6325.2918.9412.6Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 13, 2024: actual 13.91, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 13, 2025: actual 19.74, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 13, 2025: actual 30.32, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 12, 2025: actual 15.05, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 12, 2025: actual 16.76, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 12, 2026: actual 18.67, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 13, 2026: actual 26.39, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 12, 2026: actual 13.97, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates2.69B2.51B2.33B2.15BQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 13, 2024: actual 2.25B JPY, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 13, 2025: actual 2.4B JPY, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 13, 2025: actual 2.51B JPY, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 12, 2025: actual 2.5B JPY, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 12, 2025: actual 2.38B JPY, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 12, 2026: actual 2.55B JPY, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 13, 2026: actual 2.59B JPY, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 12, 2026: actual 2.56B JPY, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥29.00

2025 complete year+46.1% since 2021

2026 partial: ¥15.00

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 29, 2026

¥16.00

Semi-Annual

Record Sep 30, 2026 · Payment Sep 29, 2026

DividendUpcoming

Ex-dividend Mar 30, 2027

¥16.00

Semi-Annual

Record Mar 31, 2027 · Payment Mar 30, 2027

Dividend

Ex-dividend Mar 30, 2026

¥15.00

Semi-Annual

Record Mar 31, 2026 · Payment Jun 9, 2026

Dividend

Ex-dividend Sep 29, 2025

¥15.00

Semi-Annual

Record Sep 30, 2025 · Payment Dec 2, 2025

Dividend

Ex-dividend Mar 28, 2025

¥14.00

Semi-Annual

Record Mar 31, 2025 · Payment Jun 10, 2025

Dividend

Ex-dividend Sep 27, 2024

¥14.00

Semi-Annual

Record Sep 30, 2024 · Payment Dec 3, 2024

9221.T peers

Hitachi, Ltd. logo

6501.T

Hitachi, Ltd.

¥5,255

+1.14%

Recruit Holdings Co., Ltd. logo

6098.T

Recruit Holdings Co., Ltd.

¥16,330

+2.70%

Mitsubishi Corporation logo

8058.T

Mitsubishi Corporation

¥4,782

-0.25%

ITOCHU Corporation logo

8001.T

ITOCHU Corporation

¥2,125.5

+2.19%

Mitsui & Co., Ltd. logo

8031.T

Mitsui & Co., Ltd.

¥4,951

+1.06%

Mitsubishi Heavy Industries, Ltd. logo

7011.T

Mitsubishi Heavy Industries, Ltd.

¥3,959

+0.69%

Continue in GoAI

Research 9221.T

research.disclaimer