Electric Power & Gas · Fiscal year end Mar 31

TOKYO GAS CO.,LTD.

9531

東京瓦斯株式会社

FIGI BBG000BNDP429531.T9531 JPCorp. no. 6010401020516

Latest half-year results

First half · fiscal year to 2026-03 · filed 2025-11-14

For the first half of the fiscal year to 2026-03: Revenue ¥1.35 trillion (+10.3% YoY), Ordinary income ¥86.2 billion (+215.7% YoY), Net income ¥129.7 billion (+708.8% YoY).

	This period	Year on year
Revenue	¥1.3tn	+10.3%
Ordinary profit	¥86.2bn	+215.7%
Net profit to owners	¥129.7bn	+708.8%

From the securities report on EDINET, which states no forecast. History via /v1/companies/9531/earnings-releases.

Financials

Japan GAAP · consolidated · fiscal year to 2026-03-31

Revenue: ¥2.8tn
Net income: ¥226.9bn
ROE: 13.2%
Equity ratio: 44.1%
Dividend / share: ¥110
Employees: 16,001

Revenue · ¥tn

Net income · ¥bn

Fiscal year	Revenue	Net income	Total assets	Net assets	ROE	EPS	Operating CF
2026-03-31	¥2,834.7bn	¥226.9bn	¥3,892.3bn	¥1,796.6bn	13.2%	¥654.76	¥451.8bn
2025-03-31	¥2,636.8bn	¥74.2bn	¥3,855.1bn	¥1,801.5bn	4.3%	¥192.22	¥363.1bn
2024-03-31	¥2,662.4bn	¥165.5bn	¥3,897.6bn	¥1,758.8bn	10.2%	¥401.09	¥316.3bn
2023-03-31	¥3,289.6bn	¥280.9bn	¥3,581.4bn	¥1,589.3bn	20.0%	¥646.99	¥487.0bn
2022-03-31	¥2,154.9bn	¥95.7bn	¥3,187.6bn	¥1,281.2bn	7.9%	¥217.67	¥145.2bn

Indicators

Computed by us from filings · fiscal year to 2026-03-31

Metric	Value	Percentile among listed companies
ROE, %	13.2	72.7
Ordinary margin	0.0683	50
Equity ratio, %	44.1	32.9
Revenue growth	0.0751	61.1
Net income growth	2.0576	93.3
Operating cash flow / assets	0.1161	80.4

Policy-uncertainty measure0.44 Share of the report's text discussing policy-related uncertainty, by policy area. Proprietary text method.

Politics & geopolitics 1

Ownership activity 0 filer(s) stated they may make proposals in 365 days; 0 new 5% holder(s) in 180 days; net stake change 0.00pt in 90 days; 1.5% held by other listed companies.

Results wording balance: +0.08. Proprietary text method; it describes the wording only and does not interpret context.

Interest example: if all ¥1.2tn of reported debt repriced by 50 basis points, a year's interest would rise by ¥6.0bn, 1.3% of operating cash flow. Our arithmetic only, not a forecast: fixed-rate debt and hedges are ignored.

Via /v1/companies/9531/indicators. Descriptive figures, not a rating and not investment advice.

From other filings

As the company states them

Bond ratings stated in filings: R&I AA+ (2026-05-29, 第75回無担保社債). One bond's rating on that date, as the company stated it; it may have changed. The agencies' opinions, not ours. /v1/companies/9531/credit-ratings

Share buyback, report to —: ¥50.0bn acquired of a ¥50.0bn limit. /v1/companies/9531/buybacks

Internal control, 2026-06-23: see filing 上記の評価の結果、当連結会計年度末日時点において、当社の財務報告に係る内部統制は有効であると判断した。 Filing

Segments, votes and tender offers

Stated in EDINET filings

Segments: Energy Solution, Network, Global Business, Urban Development Business. /v1/companies/9531/segments

Latest voting result: 2026-06-26 · 取締役9名選任の件 · passed. /v1/companies/9531/voting

Ownership changes

All companies →

2026-06-05

Decrease−0.19pt

Nippon Life Insurance Company reduced holdings in TOKYO GAS CO.,LTD. (9531) to 6.27% from 6.46%.

S100Y8LWFiler profile Original filing (PDF, Japanese)
2026-05-22

Increase+0.48pt

Nippon Life Insurance Company raised holdings in TOKYO GAS CO.,LTD. (9531) to 6.46% from 5.98%.

S100Y59EFiler profile Original filing (PDF, Japanese)
2026-05-07

Increase+1.50pt

BlackRock Japan Co., Ltd. raised holdings in TOKYO GAS CO.,LTD. (9531) to 8.26% from 6.76%.

S100Y231Filer profile Original filing (PDF, Japanese)
2026-03-23

Decrease−1.06pt

Nippon Life Insurance Company reduced holdings in TOKYO GAS CO.,LTD. (9531) to 5.98% from 7.04%.

S100XRTIFiler profile Original filing (PDF, Japanese)
2026-01-22

Decrease−1.42pt

Nippon Life Insurance Company reduced holdings in TOKYO GAS CO.,LTD. (9531) to 7.04% from 8.46%.

S100XGE3Filer profile Original filing (PDF, Japanese)
2025-10-03

Decrease−1.06pt

BlackRock Japan Co., Ltd. reduced holdings in TOKYO GAS CO.,LTD. (9531) to 6.76% from 7.82%.

S100WT1DFiler profile Original filing (PDF, Japanese)
2025-09-19

Below 5%−0.26pt

Sumitomo Mitsui Trust Asset Management Co.,Ltd. cut holdings in TOKYO GAS CO.,LTD. (9531) to 4.75% from 5.01%, below the 5% threshold.

S100WP7KFiler profile Original filing (PDF, Japanese)
2025-08-07

Increase+1.26pt

Nippon Life Insurance Company raised holdings in TOKYO GAS CO.,LTD. (9531) to 8.46% from 7.20%.

S100WGWSFiler profile Original filing (PDF, Japanese)
2025-04-14

Below 5%−0.12pt

Elliott Investment Management L.P. cut holdings in TOKYO GAS CO.,LTD. (9531) to 4.91% from 5.03%, below the 5% threshold.

S100VLSIFiler profile Original filing (PDF, Japanese)
2024-11-19

Stated it may make proposals

Elliott Investment Management L.P. states it may make proposals to the management of TOKYO GAS CO.,LTD. (9531) (first filing).

S100UMDQFiler profile Original filing (PDF, Japanese)

Trades by 5% holders

From the 60-day trade tables in 5% reports

Holder	Period	Net shares	Net % of shares	Avg. filed price	Range
Elliott Investment Management L.P.	2024-09-20 – 2025-02-10	+7,078,400	+1.80pt	¥3,330	¥3,330–3,330

Net shares and the average are our calculations. Prices are filed prices as stated by the filer, mostly for off-market trades; they are not market prices. Stock lending, custody transfers and option exercises are excluded from net shares. Every row via /v1/companies/9531/trades.

5% filings

Large shareholding reports on 9531

Filed	Filer	Stake	Change	Stated purpose
2026-06-05	Nippon Life Insurance Company	6.27%	−0.19pt	pure investment
2026-05-22	Nippon Life Insurance Company	6.46%	+0.48pt	pure investment
2026-05-07	BlackRock Japan Co., Ltd.	8.26%	+1.50pt	pure investment
2026-03-23	Nippon Life Insurance Company	5.98%	−1.06pt	pure investment
2026-01-22	Nippon Life Insurance Company	7.04%	−1.42pt	pure investment
2025-10-03	BlackRock Japan Co., Ltd.	6.76%	−1.06pt	pure investment
2025-09-19	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	4.75%	−0.26pt	—
2025-08-07	Nippon Life Insurance Company	8.46%	+1.26pt	pure investment
2025-04-14	Elliott Investment Management L.P.	4.91%	−0.12pt	may make proposals
2024-11-19	Elliott Investment Management L.P.	5.03%	—	may make proposals

Cross-shareholdings

From the annual report's status of shareholdings

Listed strategic holdings: 19 issues
Book value: ¥48.5bn
Sold in the year: ¥8.9bn 14 issues
Bought in the year: — — issues
Mutual, both reports: 13
Held by listed cos.: 27

Holds	Book value	Shares vs. prior year	Mutual
RENOVA,Inc. 9519	¥9,953m	0.0%	no
Sumitomo Realty & Development Co.,Ltd. 8830	¥8,810m	+100.0%	both reports
SHIZUOKA GAS CO., LTD. 9543	¥7,545m	-16.7%	both reports
第一生命ホールディングス㈱	¥4,081m	+300.0%	stated
HOKKAIDO GAS CO., LTD. 9534	¥3,723m	0.0%	both reports
KIKKOMAN CORPORATION 2801	¥3,551m	-25.0%	both reports
Japan Airport Terminal Co.,Ltd. 9706	¥2,995m	0.0%	no
RINNAI CORPORATION 5947	¥2,583m	-40.0%	both reports
KYOWANISSEI CO.,LTD. 1981	¥1,284m	0.0%	both reports
Sumitomo Forestry Co.,Ltd. 1911	¥1,033m	+200.0%	both reports

Held by: THE ZENITAKA CORPORATION 1811, SHIZUOKA GAS CO., LTD. 9543, OKAYA&CO.,LTD. 7485, OKAYA&CO.,LTD. 7485, RINNAI CORPORATION 5947, Sumitomo Realty & Development Co.,Ltd. 8830, NORITZ CORPORATION 5943, NIPPON CHUTETSUKAN K.K. 5612, MIURA CO.,LTD. 6005, KYOWANISSEI CO.,LTD. 1981, MS&AD Insurance Group Holdings, Inc. 8725, HIROSHIMA GAS CO.,LTD. 9535 and 17 more

Purposes, all holdings and mutual flags via /v1/companies/9531/cross-holdings. Share changes include stock splits.

Major shareholders

As of fiscal year end 2026-03-31

Shareholder	Shares	Ratio
日本マスタートラスト信託銀行株式会社（信託口）	51,534,000	15.44%
日本生命保険相互会社	22,153,000	6.64%
株式会社日本カストディ銀行（信託口）	15,805,000	4.74%
みずほ信託銀行株式会社　退職給付信託　第一生命保険口再信託受託者　株式会社日本カストディ銀行	7,098,000	2.13%
東京瓦斯グループ従業員持株会	6,747,000	2.02%
STATE STREET BANK AND TRUST COMPANY 505001	6,657,000	2.00%
第一生命保険株式会社	4,869,000	1.46%
JP MORGAN CHASE BANK 385781	4,767,000	1.43%
GOVERNMENT OF NORWAY	4,600,000	1.38%
STATE STREET BANK AND TRUST COMPANY 505103	4,518,000	1.35%

U.S. funds holding 9531

SEC Form N-PORT, reports to 2026-07-31

275 U.S. funds held 34,322,839 shares worth $1.33bn.

Fund	Shares	Value	% of fund	As of
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND VANGUARD STAR FUNDS	4,741,954	$183.1m	0.028%	2026-07-31
VANGUARD DEVELOPED MARKETS INDEX FUND VANGUARD TAX-MANAGED FUNDS	3,126,778	$118.4m	0.037%	2026-06-30
iShares Core MSCI EAFE ETF iShares Trust	2,231,100	$86.1m	0.045%	2026-07-31
Fidelity SAI International Low Volatility Index Fund Fidelity Salem Street Trust	1,586,000	$61.2m	0.773%	2026-07-31
iShares MSCI Japan ETF iShares, Inc.	1,282,300	$51.3m	0.241%	2026-05-31

Up to 25 funds per stock via the API.

Get this as JSON

GET /v1/companies/9531
GET /v1/companies/9531/financials
GET /v1/companies/9531/details
GET /v1/companies/9531/segments
GET /v1/companies/9531/voting
GET /v1/companies/9531/tender-offers
GET /v1/companies/9531/indicators
GET /v1/companies/9531/earnings-releases
GET /v1/events?ticker=9531
GET /v1/companies/9531/trades         
GET /v1/companies/9531/cross-holdings 
GET /v1/companies/9531/brief

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