Trucks & Buses industry map

Who earns the money in Trucks & Buses, and who keeps it. When a company spans several industries, only the relevant segment is counted.

FY2025 · 10 companies · ¥3.9T

Industry map

Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.

Industry size (revenue): ¥3.9T
Companies: 10
Avg. salary（parent only）: ¥7.5M
Industry weather: Cloudy

Ownership (major shareholders, % held)TopreAlliances (from the filing's material contracts)

Isuzu Motors[7202]

Automobile

Revenue: ¥3.28T▲7.2%
Operating income: ¥189.9B▼12.1%

Whole company: Revenue ¥3.48T · Net income ¥134.9B

Avg. salary ¥8.4M · 40.1（parent only）

Nippon Light Metal Holdings Company[5703]

Fabricated products and others

Revenue: ¥177.7B▲3.1%
Operating income: ¥5.96B▲87.9%

Whole company: Revenue ¥585.5B · Net income ¥15.6B

Avg. salary ¥9.6M · 50.5（parent only）

Kyokuto Kaihatsu Kogyo[7226]

Specially-equipped vehicle

Revenue: ¥135.2B▲13.9%
Operating income: ¥6.3B▲34.7%

Whole company: Revenue ¥161.3B · Net income ¥3.69B

Avg. salary ¥7.1M · 42.3（parent only）

Topre owns 1.6%

ShinMaywa Industries[7224]

Special purpose trucks

Revenue: ¥117.6B▲8.7%
Operating income: ¥6.17B▲25.9%

Whole company: Revenue ¥285B · Net income ¥11.5B

Avg. salary ¥7.8M · 44.0（parent only）

Morita Holdings[6455]

Ambulance + 1 more

Revenue: ¥85.2B▲8.1%
Operating income: ¥9.42B▲19.8%

Whole company: Revenue ¥116.6B · Net income ¥9.46B

Avg. salary ¥8.2M · 44.6（parent only）

Topre[5975]

Constant Temperature Logistics Businesses

Revenue: ¥65.9B▲12.8%
Operating income: ¥9.77B▲24.2%

Whole company: Revenue ¥378.8B · Net income ¥18.6B

Avg. salary ¥7.2M · 39.4（parent only）

Nippon Sharyo[7102]

Transportation Equipment and Steel Structure

Revenue: ¥21.8B▼1.5%
Operating income: ¥3.15B▲74.7%

Whole company: Revenue ¥100B · Net income ¥11.7B

Avg. salary ¥7M · 40.3（parent only）

Kanematsu Engineering[6402]

Revenue: ¥14.1B▲6.0%
Operating income: ¥1.34B▲40.6%

Avg. salary ¥7.9M · 39.5（parent only）

Katakura Industries[3001]

Machinery business

Revenue: ¥7.82B▲27.2%
Operating income: ¥771M▲776.1%

Whole company: Revenue ¥40.7B · Net income ¥5.76B

Avg. salary ¥6.9M · 40.6（parent only）

YAMATO Mobility & Mfg.[7886]

Electric Vehicle (EV)

#10

Revenue: ¥27.5M▲292.9%
Operating income: -¥440.2M

Whole company: Revenue ¥9.73B · Net income -¥827.2M

Avg. salary ¥5.5M · 47.3（parent only）

※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.

The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).

Switch years to see how the map shifts

Who earns the money

Area = revenue from businesses in this industry. Color = operating margin.

LossHigh margin(middle = 0% margin)

Who makes a profit

Across = revenue (log scale), up = operating margin, bubble size = operating income.

Ranking and momentum

Rank	Company (business)	Revenue	Share	Op. margin	CAGR	FCF*
1	Isuzu MotorsAutomobile	¥3.28T	84.0%	5.8%	—	¥31.2B
2	Nippon Light Metal Holdings CompanyFabricated products and others	¥177.7B	4.6%	3.4%	+3.7%	¥3.65B
3	Kyokuto Kaihatsu KogyoSpecially-equipped vehicle	¥135.2B	3.5%	4.7%	+8.2%	-¥10.8B
4	ShinMaywa IndustriesSpecial purpose trucks	¥117.6B	3.0%	5.2%	+4.9%	¥14.1B
5	Morita HoldingsAmbulance + 1 more	¥85.2B	2.2%	11.1%	+9.6%	¥3.31B
6	TopreConstant Temperature Logistics Businesses	¥65.9B	1.7%	14.8%	+10.8%	¥5.2B
7	Nippon SharyoTransportation Equipment and Steel Structure	¥21.8B	0.6%	14.4%	+12.1%	¥4.46B
8	Kanematsu Engineering	¥14.1B	0.4%	9.5%	+4.4%	¥649M
9	Katakura IndustriesMachinery business	¥7.82B	0.2%	9.9%	+2.2%	¥5.7B
10	YAMATO Mobility & Mfg.Electric Vehicle (EV)	¥27.5M	0.0%	-1600.7%	—	-¥731.1M

* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.

How they make money differently

Where each company's ¥100 of sales goes, and how much it keeps (company-wide).

Cost of sales
SG&A
Operating profit

Katakura Industries
64
22
14
Morita Holdings
71
16
13
Nippon Sharyo
80
8
12
Kanematsu Engineering
73
17
10
Topre
88
7
Isuzu Motors
81
13
ShinMaywa Industries
83
11
Kyokuto Kaihatsu Kogyo
82
13
Nippon Light Metal Holdings Company
83
13
YAMATO Mobility & Mfg.
88
17
loss ¥5

Ownership links

From the major-shareholder section of annual securities reports.

東海旅客鉄道㈱Outside
- SubsidiaryNippon Sharyo50.9%
三菱商事株式会社Outside
- StakeIsuzu Motors9.2%
三井物産株式会社Outside
- StakeKatakura Industries6.9%
トヨタ自動車株式会社Outside
- StakeIsuzu Motors5.7%
エア・ウォーター株式会社Outside
- StakeMorita Holdings4.2%
大成建設株式会社Outside
- StakeKatakura Industries3.5%
株式会社四国銀行Outside
- StakeKanematsu Engineering3.1%

The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.

Compare the leaders side by side

All companies in Trucks & Buses (by revenue)

All 10 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.

Isuzu Motors¥3.28T · 5.8%
Nippon Light Metal Holdings Company¥177.7B · 3.4%
Kyokuto Kaihatsu Kogyo¥135.2B · 4.7%
ShinMaywa Industries¥117.6B · 5.2%
Morita Holdings¥85.2B · 11.1%
Topre¥65.9B · 14.8%
Nippon Sharyo¥21.8B · 14.4%
Kanematsu Engineering¥14.1B · 9.5%
Katakura Industries¥7.82B · 9.9%
YAMATO Mobility & Mfg.¥27.5M · -1600.7%

Revenue · Op. margin

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