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Shinagawa Refractories Co., Ltd. (5351.T)

JPY2,040.00 +27.00 (+1.34%)
JP JPX Basic Materials Construction Materials
Address Shin-Otemachi Building 100-0004
Tokyo, JP
CEO Hiroyuki Fujiwara
IPO 2001-01-01
ISIN JP3353200003

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Description

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.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
JPY2,040.00 +27.00 (+1.34%)
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Volume Profile
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Liquidity & share structure
Average Volume
93.3K
Beta
0.53
Float Shares
21.54M
Free Float %
47.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.37% -1.40% -6.23% -21.31% +1.39% -10.89% +15.87% +90.56% +157.53% +372.14% +407.49%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2,040.00
DCF (Unlevered) 6,385.85 +213.0%
DCF (Levered) 4,063.94 +99.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM)
Rating 2024-11 Change
Strong Buy 0 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.76
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
A+
Overall Score
5 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Construction Materials: +2.8%
    +23.4% Q1'26: +22.4% (vs Q1'25)
  • EPS growth Construction Materials: +14.1%
    +166.4% Q1'26: -311.1% (vs Q1'25)
  • FCF margin FCF growth · Construction Materials: +32.9%
    -6.6% Q1'26: +0.0% (vs Q1'25)
  • EBIT margin Construction Materials: +9.5%
    +7.7% Q1'26: +9.8% (vs Q1'25)
  • ROIC Construction Materials: +5.1%
    +6.2% Q1'26: +14.0% (vs Q1'25)
  • Share dilution Construction Materials: +0.0%
    +0.1% Q1'26: 0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Construction Materials: 0.56×
    2.00× Q1'26: 1.61× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.57) × ERP
WACC = 66% × Ke + 34% × Kd (4.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 6,367.06 Current price: 2,040.00
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2024
actual
Mar 2025
actual
Mar 2026
1 Rev. Ana.
1 EPS Ana.
Revenue
144.18B
est: 146.00B (-1.3%)
144.07B
est: 144.70B (-0.4%)
145.20B
145.20B – 145.20B
+0.3% YoY
EBITDA
26.64B
est: 31.47B (-15.4%)
20.25B
est: 22.22B (-8.9%)
22.30B
22.30B – 22.30B
+0.3% YoY
EBIT
22.83B
est: 25.80B (-11.5%)
15.57B
est: 11.31B (+37.7%)
11.35B
11.35B – 11.35B
+0.3% YoY
Net Income
15.28B
est: 15.60B (-2.1%)
9.78B
est: 10.54B (-7.2%)
10.64B
10.64B – 10.64B
+1.0% YoY
SGA
17.64B
est: 19.06B (-7.4%)
21.87B
est: 20.33B (+7.6%)
20.40B
20.40B – 20.40B
+0.3% YoY
EPS
328.44
est: 342.20 (-4.0%)
214.47
est: 231.00 (-7.2%)
233.30
233.30 – 233.30
+1.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-18 A+ 5/5 5/5 5/5 5/5 2/5 4/5 4/5
2026-05-15 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-05-14 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-05-13 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-05-12 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-05-11 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-05-08 A+ 5/5 4/5 5/5 5/5 2/5 4/5 5/5
2026-05-07 A+ 5/5 4/5 5/5 5/5 2/5 4/5 5/5
2026-05-01 S- 5/5 4/5 5/5 5/5 2/5 5/5 5/5
2026-04-30 S- 5/5 4/5 5/5 5/5 2/5 5/5 5/5
2026-04-28 A+ 5/5 4/5 5/5 5/5 2/5 5/5 4/5
2026-04-27 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-04-24 A+ 4/5 4/5 5/5 5/5 2/5 4/5 4/5
2026-04-23 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5
2026-04-22 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5
2026-04-21 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5
2026-04-20 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5
2026-04-17 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5
2026-04-16 A 4/5 4/5 5/5 5/5 1/5 4/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.05B
OE per share TTM
44.14
Owner's Yield
2.38%
Maintenance CapEx ratio
3.93%
Maint CapEx / Avg PPE
27.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 55 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Militia Long/Short Equity ETF ORR 0.36% 496.0K 14.19%
2 WisdomTree Japan SmallCap Dividend Fund DFJ 0.12% 448.9K 0.58%
3 State Street SPDR S&P International Small Cap ETF GWX 0.05% 400.1K 0.40%
4 WisdomTree International SmallCap Dividend Fund DLS 0.04% 408.5K 0.58%
5 WisdomTree International High Dividend Fund DTH 0.04% 228.8K 0.58%
6 WisdomTree Dynamic International SmallCap Equity ETF DDLS 0.03% 145.7K 0.48%
7 WisdomTree Japan Equity UCITS ETF DXJ.L 0.03% 274.9K 0.48%
8 WisdomTree Japan Equity UCITS ETF - CHF Hedged Acc DXJD.SW 0.03% 339.4K 0.45%
9 WisdomTree Japan Equity UCITS ETF - EUR Hedged Acc DXJF.MI 0.03% 313.2K 0.45%
10 WisdomTree Japan Equity UCITS ETF - GBP Hedged DXJP.L 0.03% 367.7K 0.45%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
4.03M
Shares Outstanding
45.63M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Heiki Miki Managing Executive Officer & Representative Director male
Hiroyuki Fujiwara President, Chief Executive Officer & Director male
Masanori Ogata Senior Managing Executive Officer, GM of Refractories Business Division & Director male
Toshihiko Kaneshige Head of the Thermal Insulation Materials Sector of the Group & Director male
Yoshio Fukuzaki Managing Executive Officer & Representative Director male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits