Kawagishi Bridge Works Co Ltd (5921:TYO) (KGBGF:OTC)

Recent Share Price: ¥2,500

Accounting: Japanese Accounting Standards

Fiscal Year: Sept 30th

Market Cap: ¥7.5 billion ($68 million)

Kawagishi Bridge Works Co., Ltd. is a Japanese industrial focused on the design, manufacturing, and site construction of steel frames for steel structures. In addition to the site construction work in eastern Japan, the Company is also involved in the manufacture and sale of precast concrete (PC) products.

The company operates 5 plants for Steel Frame and 1 plant for Precast Concrete.

Segment Revenue20172018
Steel Frame¥18,72395.6%¥24,24294.2%
Precast Concrete¥8644.4%¥1,5045.8%
Backlog20172018
Steel Frame¥17,06491.2%¥15,39497.9%
Precast Concrete¥1,6408.8%¥3372.1%

Recent History

2017

Announced Reverse 1-to-5 stock split effective March 28.

Insider Ownership

Executive Shareholders
NameEquities%
Ryuichi Kawagishi (Chairman)82,4002.75%
Hideo Kanamoto (President)3,5000.11%

At fiscal year-end, investments in passive stocks (17) totaled ¥906 billion.

In addition to stock holdings, the company reports that it owns rental property with a fair market value (calculated by the Company based on the property tax valuation) of ¥1.2 billion.

At ¥2.1 billion, this represents approximately 30% of the current market cap. Although company makes no claim for liquidaion, the passive holdings provide sizable financial safety.

Financials

Disclosure: We own shares in Kawagishi Bridge Works Co Ltd (5921:TYO)

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2 thoughts on “Kawagishi Bridge Works Co Ltd (5921:TYO) (KGBGF:OTC)

  1. Good company (in a relative poor sector) at a cheap price. Interesting!
    As always there are not so many news about this kind of companies (at least in English). Do you find a reason about the price movement from 2500 yen in early 2017 up to 5000 and now back at 2500? The Earnings don’t reflect these changes.

    Like

    • Thanks for following up on my next post. I don’t have specific reasons as to the fluctuations in stock price; I could speculate but that just may fool me into thinking it’s the reality!​

      Like

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