Overview
Metal Products

NASU DENKI-TEKKO CO.,LTD.

Nasu Denki-Tekko designs, manufactures, and sells infrastructure equipment across two core segments: Power & Communications Infrastructure (transmission towers, steel pipe poles, overhead and underground line materials, communication towers and antenna mounts) and Traffic Infrastructure (road information boards, ETC gantries, toll booth structures, tunnel lighting/ventilation equipment, and railway system materials). The company also provides maintenance services including tower painting, component replacement, deterioration diagnostics, and surface treatment such as its proprietary zinc-aluminum alloy hot-dip plating (ToughZ10). Its products underpin Japan's electric power grid, telecommunications networks, and road/traffic systems, with the company positioned as an integrated manufacturer and service provider across the infrastructure lifecycle.

Market Cap
¥23.3B
US$149M
EV
¥8.50B
US$54.2M
Stock¥20,000▲+0.50%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
1.7
x
LTM EV/EBIT
2.3
x
LTM PER
8.8
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.7%pt
100123
Oct 23, 25 – Oct 23, 26StockTOPIX
1Apr 8, 26Nippon Active Value Fund PLC (NAVF) changed stake (2.51%→3.43%)
2Jun 11, 26Nippon Active Value Fund PLC (NAVF) changed stake (7.25%→7.84%)
3Aug 17, 26Nippon Active Value Fund PLC (NAVF) changed stake (3.78%→4.58%)
MC → EV Bridge
23.3BUS$149MMarket Cap3.97BUS$25.3M+ Debt8.54BUS$54.5M− Cash10.6BUS$67.7M− Inv. Sec.0.36BUS$2.32M+ NCI8.50BUS$54.2MEV
AI Briefing
Nasu Denki-Tekko manufactures critical infrastructure equipment for Japan's power grid, telecom, and traffic/road sectors, including transmission towers and ETC gantries. FY26/3 revenue ¥23.7B with OP margin expanding to 13.3%, steady growth with activist/financial holders (Nippon Active Value Fund 7.46%, SMBC 4.29%) atop the register. No tender offer in public data; trades at EV ¥8.5B versus ¥4.9B LTM EBITDA, reflecting a net-cash balance sheet against ¥34.1B equity.
Performance & Balance
Revenue 5Y (¥B)
23.0US$146M'22/322.1US$141M'23/323.3US$149M'24/322.9US$146M'25/323.7US$151M'26/3
EBITDA 5Y (¥B)
3.99US$25.4M'22/33.45US$22.0M'23/33.80US$24.3M'24/34.24US$27.1M'25/34.59US$29.3M'26/3
Net Income 5Y (¥B)
2.62US$16.7M'22/31.86US$11.8M'23/31.85US$11.8M'24/31.89US$12.0M'25/32.48US$15.8M'26/3
Capital Structure
90%
EquityD/E 0.12xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
10.9US$69.5M6.46US$41.2M'22/310.7US$68.4M5.78US$36.8M'23/312.8US$81.5M5.92US$37.7M'24/312.7US$81.1M4.82US$30.8M'25/317.2US$110M4.13US$26.3M'26/3
Shareholders
Top 10 hold 40.1%
1
NIPPON ACTIVE VALUE FUND PLC (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
7.46%
2
KFC Ltd
5.75%
3
Mikio NASU
4.66%
4
Sumitomo Mitsui Banking Corporation
4.29%
5
NAVF SELECT LLC (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.53%
6
Mizuho Trust & Banking Co., Ltd.
3.50%
7
TOMOE CORPORATION
3.03%
8
SANYO DENKI CO.,LTD.
2.71%
9
MM&KENZAI Corporation
2.63%
10
Meiji Yasuda Life Insurance Company
2.57%
Management
6 officers
Tomoharu SUZUKI
Representative Director, President
Apr 1984: Joined the Company Jun 2003: Executive Officer, General Manager, Electric Power and Telecommunications Sales Department Jun 2007: Director, General Manager, Electric Power and Telecommunications Sales Department Jun 2011: Director, General Manager, Electric Power and Telecommunications Sales Department; General Manager, Overseas Department Apr 2013: Director, General Manager, Electric Power and Telecommunications Sales Department; General Manager, Overseas Department; General Manager, Okinawa Branch Apr 2017: Managing Director, in charge of Sales Division; General Manager, Sales Management Office; General Manager, Overseas Department; General Manager, Okinawa Branch May 2017 (current): Representative Director, President, Nasu Denzai Sangyo Co., Ltd. Apr 2019: Managing Director, in charge of Sales Division; General Manager, Overseas Department; General Manager, Okinawa Branch May 2019 (current): Representative Director, President, Tohoku Nasu Denki Co., Ltd. May 2019 (current): Representative Director, President, Hokkaido Nasu Denki Co., Ltd. Jun 2019 (current): Representative Director, President of the Company, in charge of Sales May 2022 (current): Representative Director, President, Nasu Denki Shoji Co., Ltd.
1962-01-03
Yukio OKUMA
Managing Director
Apr 1986: Joined the Company Apr 2010: General Manager, Intellectual Property Management Office Apr 2011: General Manager, Information Systems Department Jun 2017: Executive Officer, General Manager, Information Systems Department Mar 2020: Representative Director, Aizu Insulator Co., Ltd. Apr 2022: Executive Officer, General Manager, Yachiyo Plant May 2022: Representative Director, President, Nasu Kasei Co., Ltd. Jun 2022: Director, in charge of Production; General Manager, Yachiyo Plant Jun 2024: Director, in charge of Production; General Manager, Yachiyo Plant; in charge of Information Systems Department Jun 2025 (current): Managing Director, in charge of Administration and Production
1963-06-27
Yukio SHIMIZU
Director, General Manager, Information Systems Department; General Manager, Electric Power and Telecommunications Sales Department
Apr 1988: Joined the Company Apr 2017: General Manager, Electric Power and Telecommunications Sales Department Apr 2018: Executive Officer, General Manager, Electric Power and Telecommunications Sales Department Apr 2022: Executive Officer, General Manager, Electric Power and Telecommunications Sales Department; General Manager, Public Sales Department Apr 2023: Senior Executive Officer, General Manager, Electric Power and Telecommunications Sales Department Jun 2024: Director, General Manager, Electric Power and Telecommunications Sales Department; in charge of Technology Development Department May 2025 (current): Representative Director, President, Nasu Kasei Co., Ltd. Apr 2026 (current): Director, General Manager, Information Systems Department; General Manager, Electric Power and Telecommunications Sales Department; in charge of Technology Development Department
1966-03-24
Masayuki NISHIOKA
Director (Audit and Supervisory Committee Member) (Full-time)
Apr 1980: Joined the Company Jun 2003: Executive Officer, General Manager, Public Sales Department Jun 2007: Director, General Manager, Public Sales Department Apr 2012: Managing Director, in charge of Sales Division Jun 2017: Senior Managing Director, in charge of Administration Division Jun 2024 (current): Director (Audit and Supervisory Committee Member)
1958-01-10
Kazuo KUROTAKI
Director (Audit and Supervisory Committee Member)
Apr 1998: Joined Chuo Audit Corporation Apr 2002: Registered as Certified Public Accountant Sep 2003: Joined Chuo Sogo Business Consulting Co., Ltd. Sep 2007 (current): Opened Kazuo Kurotaki Certified Public Accountant Office Nov 2007: Registered as Certified Tax Accountant Jun 2014: Outside Audit & Supervisory Board Member, the Company Jun 2015 (current): Director (Audit and Supervisory Committee Member)
1972-01-08
Shimako NAKAZATO
Director (Audit and Supervisory Committee Member)
Dec 2008: Registered as Attorney-at-Law Jan 2009: Joined ITJ Law Office (Legal Professional Corporation) Jun 2011: Left ITJ Law Office (Legal Professional Corporation) Jun 2011: Joined Adire Law Office (Legal Professional Corporation) Sep 2013: Left Adire Law Office (Legal Professional Corporation) Oct 2013 (current): Entered Nuclear Damage Compensation Dispute Resolution Center (Nuclear Damage Compensation Dispute Settlement Mediation Office, Research and Development Bureau, Ministry of Education, Culture, Sports, Science and Technology) May 2024 (current): Joined Nishi-Shimbashi Law Office Jun 2024 (current): Director (Audit and Supervisory Committee Member)
1980-05-31
Large Shareholding Reports
NIPPON ACTIVE VALUE FUND PLC
2026-08-17
7.84%→8.03%
NIPPON ACTIVE VALUE FUND PLC
2026-07-31
7.25%→7.84%
NIPPON ACTIVE VALUE FUND PLC
2026-06-11
7.25%→7.84%
NIPPON ACTIVE VALUE FUND PLC
2026-04-08
7.25%→7.25%
K.F.C. Co., Ltd.
2026-01-26
5.01%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 5.75%
K.F.C. Co., Ltd.
2025-12-12
5.01%
Annual report (as of 2026-03-31): 5.75%
Sumitomo Mitsui Banking Corporation
2025-09-22
4.17%
Annual report (as of 2026-03-31): 4.29%
NIPPON ACTIVE VALUE FUND PLC
2025-07-22
6.78%→7.25%
NIPPON ACTIVE VALUE FUND PLC
2025-01-10
6.51%→6.78%
NIPPON ACTIVE VALUE FUND PLC
2024-12-20
6.25%→6.51%
NIPPON ACTIVE VALUE FUND PLC
2024-10-07
5.68%→6.25%
NIPPON ACTIVE VALUE FUND PLC
2024-08-13
4.71%→5.68%
NIPPON ACTIVE VALUE FUND PLC
2024-05-23
4.71%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-17
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-31
Change Report
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-11
Large Shareholding Report
EDINET
2026-04-08
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINETAmended
2026-01-26
Change Report
EDINET
2025-12-12
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-22
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-07-22
Large Shareholding Report
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2025-01-10
Large Shareholding Report
EDINET
2024-12-20
Large Shareholding Report
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2024-10-07
Large Shareholding Report
EDINET
2024-08-13
Large Shareholding Report
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-05-23
Large Shareholding Report
EDINET
2024-02-14
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
2023-06-29
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
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