Overview
Electric Appliances

SUNCORPORATION

Sun Corporation operates across four business segments: Global Data Intelligence (GDI), Entertainment, New IT, and Wellness. The GDI segment, anchored by its equity-method affiliate Cellebrite DI Ltd., develops and sells digital intelligence solutions and mobile data transfer equipment primarily for law enforcement and public safety clients worldwide. The Entertainment segment develops and sells gaming machine components and content distribution services, while the New IT segment provides M2M/IoT communication devices and B2B business support systems.

Market Cap
¥204B
US$1.30B
EV
¥193B
US$1.23B
Stock¥9,480▼-1.96%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
629.3
x
LTM EV/EBIT
2798.6
x
LTM PER
21.7
x
LTM PBR
4.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-25.0%pt
1001234
Oct 23, 25 – Oct 23, 26StockTOPIX
1Apr 16, 26ValueAct Capital Management, L.P. changed stake (7.87%→9.89%)
2May 8, 26ValueAct Capital Management, L.P. changed stake (9.89%→12.08%)
3May 13, 26Oasis Management Company Ltd. changed stake (18.79%→18.45%)
4Aug 12, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
204BUS$1.30BMarket Cap2.85BUS$18.2M+ Debt2.55BUS$16.2M− Cash11.3BUS$71.9M− Inv. Sec.193BUS$1.23BEV
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Performance & Balance
Revenue 5Y (¥B)
37.2US$237M'22/337.4US$238M'23/310.0US$64.0M'24/310.8US$69.0M'25/39.91US$63.1M'26/3
EBITDA 5Y (¥B)
2.30US$14.6M'22/3-0.59-US$3.78M'23/30.56US$3.56M'24/30.26US$1.65M'25/30.23US$1.45M'26/3
Net Income 5Y (¥B)
2.82US$17.9M'22/36.88US$43.8M'23/3-3.78-US$24.0M'24/317.2US$110M'25/39.66US$61.5M'26/3
Capital Structure
95%
EquityD/E 0.06xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
32.1US$205M3.79US$24.2M'22/314.8US$94.1M0.45US$2.89M'23/322.4US$143M1.39US$8.85M'24/312.9US$82.3M2.59US$16.5M'25/313.3US$84.5M2.63US$16.8M'26/3
Shareholders
Top 10 hold 78.5%
1
Tokai Engineering Co., Ltd.
19.80%
2
Hebara Holdco II, L.P. (Standing Proxy: Mita Securities Co., Ltd.)
19.70%
3
OASIS INVESTMENTS II MASTER FUND LTD. (Standing Proxy: Citibank, N.A., Tokyo Branch)
9.40%
4
STATE STREET BANK AND TRUST COMPANY 505010 (Mizuho Bank, Ltd.)
7.90%
5
OASIS JAPAN STRATEGIC FUND LTD. (Standing Proxy: Citibank, N.A., Tokyo Branch)
5.40%
6
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
5.20%
7
FUJISHOJI CO.,LTD.
3.40%
8
Michie UTSUMI
3.20%
9
CGML PB CLIENT ACCOUNT/COLLATERAL (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.60%
10
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.90%
Management
9 officers
Ryusuke UTSUMI
Representative Director, President
Mar 2008 Incubation Manager, Aichi Venture House, Chubu Management Information Association Jun 2009 Chief Manager, Industrial Support Department, Chubu Aerospace Technology Center Jun 2012 Joined the Company Oct 2018 General Manager, Internal Control Office, the Company Apr 2019 General Manager, Internal Audit Office, the Company Apr 2020 Director, the Company Apr 2020 Director, Cellebrite DI Ltd. Apr 2020 Director, Eedream Co., Ltd. (current) Jul 2020 Director, SUNTAC Corporation Feb 2021 Chairman, Cellebrite DI Ltd. Jun 2021 Representative Director, President, the Company (current) Aug 2021 Director, Cellebrite DI Ltd. (current) Feb 2023 Chairman, EKTech Holding Sdn. Bhd. (current) Jan 2025 Director, Sun Digital Health Inc. (current)
1965-10-08
Yoshiki KIMURA
Director
Oct 1972 Peat Marwick Mitchell & Co. (now KPMG) Sep 1978 George Takahashi & Co. Feb 1980 McKean Industry Sep 1984 Representative and Consultant, Systems Pro USA Oct 1989 Ota Showa Audit Corporation (now EY ShinNihon LLC) Nov 1994 General Manager, Internal Audit Office, Goodman Co., Ltd. Sep 1997 Managing Director, General Manager, Administration Division, Goodman Co., Ltd. Sep 2004 Managing Director, General Manager, Overseas Business Division and Administration Division, Goodman Co., Ltd. Sep 2006 Chairman, AVANTEC Vascular Corporation Dec 2006 Controller, LightLab Imaging, Inc. Sep 2008 Full-time Audit & Supervisory Board Member, Goodman Co., Ltd. Sep 2014 Audit & Supervisory Board Member, Greens Co., Ltd. Mar 2016 Director, Audit and Supervisory Committee Member, Greens Co., Ltd. Jul 2018 Consultant, the Company Jun 2019 Representative Director, President, the Company Jun 2021 Representative Director, Senior Managing Director, the Company Jan 2025 Director, Sun Digital Health Inc. (current) Jun 2026 Director, the Company (current)
1948-04-03
Jacob ZLICKA
Director
Sep 1994 Clerkship, Hamburger, Evron & Co. (Israel) Jan 1996 Attorney, Sadot & Co. (Israel) (Member of the Israel Bar Association since Nov 1995) Jul 1999 Tokyo Correspondent, Maariv Daily Newspaper (Israel) Nov 2002 Business Development Manager, Japan Israel Investment Corporation, Ltd. Jul 2004 Business Development Consultant, Zlicka Consulting Co., Ltd. (current) Jun 2007 OEM Sales Manager, Mentor Graphics Japan Co., Ltd. (acquired Valor Computerized Systems Japan) Jun 2012 Business Development Director, Screenovate Technologies Ltd. (Israel) Nov 2015 Representative Director and Country Manager, Incredible Build Japan K.K. Apr 2020 Outside Director, the Company Jul 2020 Director, the Company (current) Dec 2024 Director, MYWAVES TECHNOLOGIES LIMITED (current) Jan 2025 Representative Director, Sun Digital Health Inc. (current)
1966-10-04
Lisa HAMIT
Director
Aug 1998 Chief Executive Officer, Black Pearl Software Jul 2003 WW Strategy Lead, Artificial Intelligence & Analytics, IBM May 2010 Director, Business Strategy & Development, Cloud Services Division, Hewlett-Packard Sep 2011 Vice President, Community Cloud, Salesforce.com, Inc. Jun 2015 Vice President, IBM Watson Cloud Services Dec 2017 Global Vice President, Data & AI, Visa Inc. Feb 2019 Outside Director, Clear Channel Outdoor (current) Dec 2019 Senior Advisor, Brighton Park Capital (current) Mar 2020 Outside Director, Glassbox Jan 2022 Chairman of the Board, Intelsat (current) Jan 2023 Outside Director, QuSecure (current) Feb 2023 Outside Director, Auterion GS (current) Oct 2023 Outside Director, Solliance (current) Jan 2024 Board Advisor, Asignio (current) Feb 2024 Advisor, Mandatum Foundation (current) Jun 2024 Outside Director, the Company (current)
1962-11-13
Masato MANABE
Director
Apr 2015 Project Coordinator, Mitsui & Co., Ltd. (Tokyo) Aug 2019 Originator, Energy Solutions, Engie Australia and New Zealand (Melbourne) (seconded from Mitsui & Co., Ltd.) Jan 2023 Consultant, Private Equity Group, Bain & Company (Tokyo) Nov 2023 Vice President, Kaisen Fund, Copenhagen Infrastructure Partners (Tokyo) May 2024 Consultant, Bain & Company (Tokyo) Jan 2025 Investment Analyst, Oasis Management Company Ltd. (Hong Kong) (current) Jun 2026 Outside Director, the Company (current)
1989-07-16
Thomas HEGGE
Director
Jun 2007 Credit Suisse Securities (USA) Aug 2009 Private Equity Investor, Advent International Jun 2014 Master of Business Administration, Harvard Business School Sep 2014 Berylson Capital Partners Mar 2018 Managing Member, Great Plains Partners Sep 2021 Managing Director, True Wind Capital Management (current) Feb 2022 Director, Sterling Capital Brokers Co., Ltd. Jul 2023 Director, Open Lending Corporation (current) Jun 2026 Outside Director, the Company (current)
1984-12-11
Yasushi MUTO
Director, Audit and Supervisory Committee Member
Nov 1992 Joined the Company Mar 2010 General Manager, Product Division, the Company Oct 2013 Executive Officer, General Manager, Product Division, the Company Jul 2016 General Manager, Internal Control Office, the Company Oct 2018 General Manager, Internal Audit Office, the Company Apr 2019 General Manager, Product Division, the Company Apr 2020 Audit & Supervisory Board Member, Eedream Co., Ltd. (current) Jun 2020 Director, Audit and Supervisory Committee Member, the Company (current) Jan 2025 Audit & Supervisory Board Member, Sun Digital Health Inc. (current)
1963-05-05
Tomoyuki SHINKAI
Director, Audit and Supervisory Committee Member
Oct 1994 Joined Cosmos Audit Corporation Apr 1998 Registered Certified Public Accountant Nov 2003 Partner, Cosmos Audit Corporation Jun 2007 Representative Partner, Cosmos Audit Corporation Jul 2019 Chief Representative Partner, Cosmos Audit Corporation (current) Jun 2020 Outside Director, Audit and Supervisory Committee Member, Taiheiyo Kogyo Co., Ltd. (current) Jun 2022 Outside Director, Audit and Supervisory Committee Member, the Company (current)
1968-10-22
Takashi MATSUI
Director, Audit and Supervisory Committee Member
Dec 2008 Registered as Attorney-at-Law Dec 2008 Joined Kawakami & Hara Law Office (now Olympia Law Office) Jan 2012 Representative Partner, Matsui Law Office (now Misono Sogo Law Office, LPC) (current) Apr 2013 Committee Member, Nagoya Branch, Japan Intellectual Property Arbitration Center Sep 2015 Part-time Lecturer (Copyright Law), Nanzan University Law School Jan 2019 Lecturer, Patent Infringement Litigation Representation Training, Japan Patent Attorneys Association Nov 2019 Partner Business Operator Selection Committee Member, Okazaki City Regional Electricity Retail Business Apr 2020 Steering Committee Member, Head Office, Japan Intellectual Property Arbitration Center (current) Dec 2020 Outside Director, Audit and Supervisory Committee Member, Goodspeed Co., Ltd. Apr 2022 Member, Nagoya City Administrative Appeal Review Board (current) Jun 2022 Outside Director, Audit and Supervisory Committee Member, the Company (current) Jul 2025 Outside Director, Audit and Supervisory Committee Member, Kaburaya Group Co., Ltd. (current) Jul 2025 Member, Investigation Committee on Child Sexual Violence at Nagoya City Public Schools and Kindergartens Feb 2026 Member, Chubu Intellectual Property Strategy Headquarters, Chubu Bureau of Economy, Trade and Industry (current)
1976-11-01
Large Shareholding Reports
Tokai Engineering Co., Ltd.
2026-05-29
19.62%→17.78%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 19.80%
Tokai Engineering Co., Ltd.
2026-05-13
19.62%→17.78%
Annual report (as of 2026-03-31): 19.80%
Oasis Management Company Ltd.
2026-05-13
18.79%→18.45%
ValueAct Japan Master Fund, L.P.
2026-05-08
9.89%→12.08%
Hebara Holdco II, L.P.
2026-04-22
17.66%→17.66%
ValueAct Japan Master Fund, L.P.
2026-04-16
7.87%→9.89%
ValueAct Japan Master Fund, L.P.
2025-10-09
7.87%
Oasis Management Company Ltd.
2024-03-26
16.15%→18.79%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-05-29
Change Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-05-08
Large Shareholding Report
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-04-16
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-09
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-03-26
Large Shareholding Report
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-15
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
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