Coverage initiated on: 2021 08 18 Last update: 2026 02 18
8132
Sinanen HD
Company Name
Sinanen Holdings Co., Ltd.
Head Office
39 20, Higashi-Shinagawa 1 Chome, Shinagawa-ku, Tokyo 140 0002 Japan
Listed On
Tokyo Stock Exchange, Prime Market
Fiscal Year-End Mar
Established 1934 04 25
Exchange Listing 1963 01 04
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Research Coverage Report by Shared Research Inc.
Table of Contents
Executive summary 6
Business overview 6
Earnings trends 7
Strengths and weaknesses 8
Key financial data 9 |
Recent updates 10 |
Trends and outlook 12 |
Quarterly results 12
Cumulative Q3 FY03/26 results 13
Summary 13
Segment performance 13
Voluntary early retirement program 16
Sales of subsidiaries 16
FY03/26 forecast 17
FY03/26 company forecast 17
Initial company forecast and results 18
Medium-term earnings outlook 18
Third medium-term management plan 18
Vision 18
Growth strategies 18
Strengthening management foundation 19
Capital strategy 19
Financial targets 19
Non-financial targets 20
Business 22
Achievements (review as of May 2025 20
Business model 22
Business structure 22
Business by segment 23
Retail/Wholesale Energy & Related business B2C segment 23
Overview 23
LP gas business 23
Other B2C businesses 25
Earnings structure 26
Energy solutions business B2B segment) 28
Summary 28
Petroleum business 28
Electricity business 29
Other B2B businesses 31
Non-energy segment 31
Summary 31
Bicycle business 31
Bike sharing business 31
Environmental and recycling business 33
Antimicrobial business 33
Systems business 33
Comprehensive building maintenance business 33
Market and value chain 35 |
Investment track record 34
LP gas market 35
What is LP gas? 35
History of LP gas 35
Applications 35
Production 35
Source countries 36
Supply systems 36
Distribution 36
Laws governing LP gas 36
Domestic LP gas demand 36
LP gas demand by application 37
Industry structure 37
Petroleum products market 38
Kerosene 38
Peak demand during winter period 38
Distribution 38
Domestic kerosene demand 38
Structure of petroleum products industry and dwindling number of service stations 39
Structure of petroleum products demand in Japan 39
Electricity market 39
Electricity demand in Japan 39
Gradual liberalization of the electricity market in Japan 40
New electric power generation PPS sales volume and share 41
Electric vehicle EV market 41
Bike sharing market 43
Building maintenance service market 44
Home renovation market 45
Competitors 45
Wood chip market 45
Global peers 45
Japanese peers 47
Businesses mainly engaged in LP gas 47
Iwatani Corporation TSE Prime: 8088 47
Mitsuuroko Group Holdings TSE Standard: 8131 47
TOKAI Holdings TSE Prime: 3167 47
Nippon Gas TSE Prime: 8174 47
Businesses mainly engaged in petroleum products 48
Itochu Enex Co., Ltd. TSE Prime: 8133 48
San-Ai Obbli (formerly San-Ai Oil; TSE Prime: 8097 48
Strengths and weaknesses 48
Kamei Corporation TSE Prime: 8037 48
Strengths 48
Historical performance and financial statements 51
Weaknesses 49
Income statement 51
Balance sheet 52
Cash flow statement 53
Historical performance 54
1H FY03/26 results 54
Summary 54
Segment performance 54
Voluntary early retirement program 57
Q1 FY03/26 results 57
Summary 57
Segment performance 57
Full-year FY03/25 results 59
Summary 59
Segment performance 60
Cumulative Q3 FY03/25 results 62
Summary 62
Other information 66
Segment performance 62
History 66
Corporate governance and top management (as of June 25, 2025 67
Top management 67
Corporate governance 67
Dividend policy 68
Major shareholders (as of end-September 2025 68
Employees 68
News and topics 69