Overview
Construction

NIHON DENGI CO.,LTD.

Nippon Denki Co., Ltd. designs, constructs, and maintains automatic control systems for building automation (BA) and factory automation (FA), serving non-residential facilities such as office buildings, hospitals, research institutes, and commercial complexes. The company operates two core segments: the Air Conditioning Instrumentation segment, which covers HVAC automatic control system installation and control equipment sales (including control panels, sensors, and thermostats), and the Industrial Systems segment, which handles instrumentation and automation works for factories and conveyor lines—particularly food and pharmaceutical manufacturers—along with production management system sales through its consolidated subsidiary Jupiter Advance Systems Co., Ltd. The company holds a Minister of Land, Infrastructure, Transport and Tourism license as both a specified and general contractor under the Construction Business Act, and has established a broad domestic branch network spanning Tokyo, Osaka, Nagoya, and other major regions.

Market Cap
¥127B
US$808M
EV
¥90.9B
US$579M
Stock¥1,989▼-2.16%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.1
x
LTM EV/EBIT
7.4
x
LTM PER
14.4
x
LTM PBR
2.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+33.2%pt
1001234
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jan 28, 26Quarterly earnings guidance downward revision
2Mar 4, 26Market-wide: Yen strengthening
3Jul 24, 26Q1 FY2027/03 earnings announced
4Sep 29, 26Secondary offering announced by Mizuho Bank et al. (3.85M sh + 578K OA shares), triggering supply-demand concerns
MC → EV Bridge
127BUS$808MMarket Cap0.55BUS$3.49M+ Debt7.72BUS$49.2M− Cash28.7BUS$183M− Inv. Sec.90.9BUS$579MEV
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Performance & Balance
Revenue 5Y (¥B)
31.7US$202M'22/334.3US$219M'23/338.9US$248M'24/343.1US$275M'25/346.4US$296M'26/3
EBITDA 5Y (¥B)
4.44US$28.3M'22/34.87US$31.1M'23/36.64US$42.3M'24/39.55US$60.9M'25/312.3US$78.3M'26/3
Net Income 5Y (¥B)
3.03US$19.3M'22/33.17US$20.2M'23/34.67US$29.8M'24/36.41US$40.9M'25/38.44US$53.8M'26/3
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
14.3US$90.9M0.31US$2.00M'22/317.1US$109M0.34US$2.19M'23/319.2US$123M0.66US$4.20M'24/323.2US$148M0.64US$4.11M'25/328.3US$180M0.55US$3.49M'26/3
Shareholders
Top 10 hold 41.6%
1
NIHON DENGI CO.,LTD. Employee Stock Ownership Association
8.29%
2
Ryosuke SHIMADA
6.56%
3
Kenji NAGATA
4.97%
4
Mizuho Bank, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
4.28%
5
Azbil Corporation
4.07%
6
Shoko SHIMADA
3.05%
7
Junko SHIMADA
3.05%
8
Custody Bank, Ltd. (Trust Account)
2.91%
9
BBH FOR FIDELITY LOW-PRICED STOCK FUND (Standing Proxy: MUFG Bank, Ltd.)
2.27%
10
Shunichi NAGATA
2.12%
Management
7 officers
Ryosuke SHIMADA
Representative Director, President
Apr 1991 Joined Nissho Iwai Corporation May 2002 Seconded to Nissho Iwai American Corporation Sep 2006 Joined the Company as Full-time Advisor Jun 2007 Managing Director of the Company Jun 2009 Representative Director of the Company (current) Jun 2020 President of the Company (current)
1968-08-24
Isao OKAZAKI
Director, Senior Executive Officer, Head of Business Division
Apr 1989 Joined the Company Apr 2020 Executive Officer of the Company, General Manager of Tokyo Head Office of the Company Apr 2025 Head of Business Division of the Company (current) Jun 2025 Director of the Company (current) Senior Executive Officer of the Company (current)
1965-10-04
Yoshiaki KOBAYASHI
Director, Senior Executive Officer, Head of Corporate Planning and Administration Division, concurrently General Manager of Corporate Planning Department and Principal of Denki Academy
Apr 1992 Joined Fuji Bank, Ltd. Apr 2015 General Manager of Aizu Branch, Mizuho Bank, Ltd. Apr 2018 General Manager of Senju Branch, the Bank May 2021 General Manager of First Credit Examination Department and Senior Staff Officer attached to First Credit Examination Department, the Bank Apr 2024 Senior Staff Officer attached to Human Resources Strategy Promotion Department, the Bank Jun 2024 Joined the Company as Full-time Advisor Director of the Company (current) Executive Officer of the Company Head of Corporate Planning and Administration Division of the Company (current) Jun 2025 Senior Executive Officer of the Company (current) Apr 2026 General Manager of Corporate Planning Department of the Company (current) Principal of Denki Academy of the Company (current)
1969-09-07
Katsuhiro MATSUURA
Director, Senior Executive Officer, Head of Technology Division
Apr 1984 Joined Toshiba Engineering Corporation Jul 2000 Joined the Company Jul 2012 General Manager of Engineering Department, Business Division of the Company Apr 2022 Executive Officer of the Company, Deputy Head of Business Division of the Company Apr 2025 Head of Technology Division of the Company (current) Jun 2025 Director of the Company (current) Senior Executive Officer of the Company (current)
1962-02-08
Kazuji KAWAMURA
Director (Audit and Supervisory Committee Member)
Apr 1985 Joined Fuji Bank, Ltd. Jul 2013 General Manager of International Corporate Banking Department, Mizuho Bank, Ltd. Apr 2016 Deputy Head of Human Resources and General Affairs Division, Dai-ichi Kogyo Seiyaku Co., Ltd. Jun 2018 Director, the same company Apr 2022 Managing Director in charge of Sales and Tokyo Head Office, the same company Apr 2023 Director, the same company Jun 2023 Full-time Audit & Supervisory Board Member, the same company Jun 2024 Director (Audit and Supervisory Committee Member) of the Company (current)
1961-12-02
Fumiko KISHIMOTO
Director (Audit and Supervisory Committee Member)
Apr 2000 Registered as attorney (Tokyo Bar Association); joined Azusa Sogo Law Office (current) Jun 2019 Director (Audit and Supervisory Committee Member) of the Company (current) Mar 2024 Outside Director, Iseki & Co., Ltd. (current)
1973-09-23
Michihiro KUDO
Director (Audit and Supervisory Committee Member)
Oct 1984 Joined Chuo Kaikei Audit Corporation Mar 1991 Registered as Certified Public Accountant Jul 1993 Opened Kudo Certified Public Accountant Office (current) Apr 2016 Vice President, Saitama Chapter, Japanese Institute of Certified Public Accountants Jul 2017 Member, Saitama City Audit Committee (current) Jun 2022 Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2025 President, Saitama Chapter, Japanese Institute of Certified Public Accountants (current)
1960-05-03
Large Shareholding Reports
Mizuho Trust & Banking Co., Ltd.
2026-10-22
0.98%→0.94%
Ryosuke SHIMADA
2026-10-07
6.35%→5.68%
Annual report (as of 2026-03-31): 6.56%
Fidelity Management & Research Company LLC
2026-06-22
6.29%→5.28%
Fidelity Management & Research Company LLC
2026-06-18
7.31%→6.22%
Fidelity Management & Research Company LLC
2026-06-18
6.73%→6.29%
FMR LLC
2026-06-18
—
Fidelity Management & Research Company LLC
2026-06-18
5.93%→7.31%
Fidelity Management & Research Company LLC
2026-06-18
6.22%→6.73%
Fidelity Management & Research Company LLC
2026-06-10
5.56%→5.93%
FMR LLC
2026-03-23
9.25%→9.45%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-22
Large Shareholding Report
EDINET
2026-10-07
Large Shareholding Report
TDnet
2026-07-24
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-22
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINETAmended
2026-06-18
Change Report
EDINET
2026-06-18
Large Shareholding Report
EDINET
2026-06-10
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
TDnet
2026-01-28
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-25
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-29
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-25
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Apr 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
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