[Obayashi] Share Price & External Ratings — vs TOPIX, ESG Index Inclusion

Note: This article is a factual summary based on Obayashi Corporation’s published IR material (Investors’ Guide, June 2026 edition). It is not a recommendation to buy or sell any security. Figures are as of the publication of the source material. Investment decisions are your own responsibility.

The last two appendix pages of the Investors’ Guide 2026 shift from the income statement to the market’s view of Obayashi: an eleven-year share-price chart set against two benchmarks (p.40), and a page of marks recording the external ESG ratings and IR awards the company has received (p.41). Both pages are light on text and heavy on visuals, so this article stays close to what is actually printed on them rather than adding outside commentary.

Eleven years of share price and trading volume

The chart plots Obayashi’s share price and monthly trading volume from April 2015 through February 2026, alongside two benchmarks: TOPIX (the Tokyo Stock Price Index, a broad gauge of the Japanese equity market) and the TOPIX-17 Series Construction & Materials sub-index. For most of the 2015–2023 period shown, Obayashi’s share price moved in a roughly ¥800–1,500 range, tracking below the TOPIX line and above the TOPIX-17 construction sub-index for nearly the whole stretch. From around 2023 the share-price line rises sharply, and by the final data points on the chart in early 2026 it has moved above the TOPIX line as well, reaching its highest levels across the eleven-year window shown. Trading volume, plotted as bars against the right-hand axis, is visibly heavier at the start of the period (2015–2017) and again from around 2023 onward than in the years in between. The chart uses two separate vertical axes — share price in yen on the left, trading volume in thousands of shares on the right — so only the shape of each line and the bars over time is directly comparable, not their absolute values against one another.

External ratings: ESG indices and IR awards

The page organizes this recognition into two labeled panels — “External ESG Evaluations” and “External IR Evaluations” — plus a further “Other External Evaluations” panel pointing to still more recognition beyond what fits on the page. The marks are transcribed in full below.

Category	Rating / Index
FTSE	FTSE4Good
FTSE	FTSE Blossom Japan
FTSE	FTSE Blossom Japan Sector Relative Index
MSCI	MSCI Selection Indexes Constituents 2025
MSCI	2025 Constituent, MSCI Japan ESG Select Leaders Index
MSCI	2025 Constituent, MSCI Japan ESG Select Leaders Index (shown as a separate entry on the slide)
Climate / Carbon	S&P/JPX Carbon Efficient Index
Climate / Carbon	SBT (Science Based Targets) — Driving Ambitious Corporate Climate Action
Climate / Carbon	CDP Supplier Engagement Leader 2025
Climate / Carbon	CDP Climate Change A List 2025
Other	Dow Jones Best-in-Class Asia Pacific Index
Other	Sompo Sustainability Index 2026
Other	Eruboshi (3-star, the highest grade) certification mark under the Act on Promotion of Women’s Active Engagement and Advancement in the Workplace

The “External IR Evaluations” panel lists four awards:

• Nikko Investor Relations, “Best Corporate Website 2025” (overall category)
• Daiwa Investor Relations, “Internet IR Excellence Award 2025”
• Gomez IR Site Ranking, Silver Award (2025)
• Japan Investor Relations Association, 2025 “Kyokan!” (Empathy) IR Award

Rating and certification names above are transcribed from the marks shown on the slide.

What this means for investors

Neither page adds a new number to the ones already covered elsewhere in the guide — they contextualize figures detailed in other articles. The earnings growth behind the recent share-price strength is set out in our MTP2022 KPI article (EPS of ¥249.42 in FY2025, against a FY2026 forecast of ¥228.39), and the capital-return policy behind it — a DOE (dividend on equity) target of around 5% and the ¥100.0 billion share buyback program — is covered in our capital policy article. Read together with the ESG and IR recognition on this page, they describe a company whose market performance and external recognition are, per the guide, both on an improving trend.

This article is part of our complete breakdown of the Obayashi Investors’ Guide 2026. See the hub article for the full series.

Note: This article is a factual summary based on Obayashi Corporation’s published IR material (Investors’ Guide, June 2026 edition). It is not a recommendation to buy or sell any security. Figures are as of the publication of the source material. Investment decisions are your own responsibility.