Overview
Electric Appliances

MEIDENSHA CORPORATION

Meidensha Corporation is a comprehensive heavy electrical equipment manufacturer providing power infrastructure products and systems—including generators, transformers, switchgear, and hydroelectric facilities—to electric utilities and industrial customers. The company also supplies social infrastructure systems such as railway traction systems, water infrastructure, and uninterruptible power supplies to government agencies and private enterprises, alongside industrial electronics and mobility components including EV drive systems, motors, inverters, and automotive testing equipment. Its field engineering segment offers maintenance, inspection, and lifecycle management services for electrical facilities, underpinned by over 120 years of engineering expertise.

Market Cap
¥448B
US$2.86B
EV
¥404B
US$2.58B
Stock¥9,870▼-0.40%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.4
x
LTM EV/EBIT
12.7
x
LTM PER
15.9
x
LTM PBR
2.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+27.8%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 31, 25Q3 results: sales +7% YoY, net profit +63%, cautious full-year guidance kept
2Aug 3, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
448BUS$2.86BMarket Cap38.9BUS$248M+ Debt47.0BUS$300M− Cash39.2BUS$250M− Inv. Sec.3.61BUS$23.0M+ NCI404BUS$2.58BEV
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Performance & Balance
Revenue 5Y (¥B)
255US$1.63B'22/3273US$1.74B'23/3288US$1.84B'24/3301US$1.92B'25/3326US$2.08B'26/3
EBITDA 5Y (¥B)
21.4US$136M'22/318.9US$121M'23/323.0US$147M'24/332.0US$204M'25/338.3US$244M'26/3
Net Income 5Y (¥B)
6.73US$42.9M'22/37.13US$45.5M'23/311.2US$71.5M'24/318.5US$118M'25/323.6US$151M'26/3
Capital Structure
82%
EquityD/E 0.22xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
31.2US$199M48.5US$309M'22/331.6US$202M50.5US$322M'23/345.5US$290M54.7US$349M'24/354.2US$346M44.6US$284M'25/368.8US$438M44.4US$283M'26/3
Shareholders
Top 10 hold 41.5%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
12.15%
2
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
5.16%
3
Custody Bank of Japan, Ltd. (Trust Account)
4.90%
4
Sumitomo Electric Industries,Ltd.
4.80%
5
Sumitomo Mitsui Banking Corporation
3.97%
6
Sumitomo Mitsui Trust Bank, Limited
2.42%
7
MEIDENSHA CORPORATION Employee Stock Ownership Association
2.37%
8
Sumitomo Life Insurance Company
2.34%
9
BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.76%
10
HSBC-FUND SERVICES HSBC - 006 MF EFM (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.65%
Management
11 officers
Takeshi MIIDA
Director and Executive Officer, Chairman
Apr 1978: Joined Meidensha Corporation Apr 2008: Executive Officer; General Manager, Corporate Planning Group; General Manager, Corporate Planning Department Apr 2011: Managing Executive Officer; General Manager, Corporate Planning Group; General Manager, Corporate Planning Department Apr 2012: Senior Managing Executive Officer; General Manager, Corporate Planning Group Jun 2012: Director, Senior Managing Executive Officer; General Manager, Corporate Planning Group Apr 2015: Representative Director, Deputy President Jun 2018: Representative Director, President Dec 2018: Member, Nomination and Remuneration Committee (current) Jun 2022: Representative Director, Executive Officer, President Jun 2023: Representative Director, Executive Officer, Chairman Jun 2024: Outside Director, Nitto Boseki Co., Ltd. (current) Jun 2026: Director, Executive Officer, Chairman (current)
1955-08-16
Akio INOUE
Representative Director, Executive Officer, President
Apr 1987: Joined Meidensha Corporation Apr 2014: General Manager, Corporate Planning Group; General Manager, Corporate Planning Department Apr 2015: Executive Officer; General Manager, Corporate Planning Group; General Manager, Corporate Planning Department Apr 2018: Executive Officer; General Manager, Accounting and Finance Group Apr 2020: Managing Executive Officer; General Manager, Accounting and Finance Headquarters Apr 2022: Senior Managing Executive Officer; General Manager, Accounting and Finance Headquarters Jun 2023: Representative Director, Executive Officer, President (current) Member, Nomination and Remuneration Committee (current)
1964-09-13
Masahiko SUZUKI
Representative Director, Executive Officer, Deputy President
Apr 1985: Joined Meidensha Corporation Apr 2015: General Manager, Technology Department, Dynamic Measurement and Transport Systems Business Division Apr 2017: Executive Officer; General Manager, Dynamic Measurement and Transport Systems Business Division Apr 2018: Executive Officer; General Manager, Power Measurement Systems Business Division Apr 2019: Managing Executive Officer; General Manager, R&D Headquarters Apr 2022: Senior Managing Executive Officer; General Manager, Industrial Electronics and Mobility Group Apr 2024: Executive Officer, Deputy President; General Manager, Industrial Electronics and Mobility Group Jun 2024: Representative Director, Executive Officer, Deputy President; General Manager, Industrial Electronics and Mobility Group Apr 2026: Representative Director, Executive Officer, Deputy President (current)
1962-05-20
Hiroji ADACHI
Outside Director
Apr 2008: Executive Officer, Nippon Oil Corporation (now ENEOS Holdings, Inc.) Jun 2012: Managing Executive Officer, JX Holdings, Inc. (now ENEOS Holdings, Inc.) Jun 2014: Outside Director, Toho Titanium Co., Ltd. Jun 2015: Director, Managing Executive Officer, JX Holdings, Inc. (now ENEOS Holdings, Inc.) Jun 2015: Outside Director, INPEX Corporation Jun 2015: Outside Director, Maruun Co., Ltd. Apr 2020: Director, Managing Executive Officer, Chief Digital Officer, ENEOS Holdings, Inc. Jun 2020: Director, Deputy President Executive Officer, Chief Digital Officer, ENEOS Holdings, Inc.; Director, Deputy President Executive Officer, Chief Digital Officer and Assistant to the President, ENEOS Corporation Jun 2021: Officer, ENEOS Holdings, Inc. Jun 2022: Outside Director, Meidensha Corporation (current) Jun 2025: Member, Nomination and Remuneration Committee Jun 2026: Chairman, Nomination and Remuneration Committee (current)
1956-09-01
Manabu KINOSHITA
Outside Director
Apr 2006: General Manager, Retail and Service Solutions Business Division, Enterprise Solutions Business Unit, NEC Corporation Apr 2008: Executive Officer, NEC Corporation Apr 2010: Senior Managing Executive Officer, NEC Corporation Jun 2010: Director, NEC Corporation Apr 2016: Executive Vice President, Executive Officer, NEC Corporation Apr 2018: Senior Officer, NEC Corporation Jun 2020: Outside Director, Sumitomo Metal Mining Co., Ltd. (current) Jun 2020: Outside Director, Alfresa Holdings Corporation (current) Jun 2023: Outside Director, Meidensha Corporation (current) Member, Nomination and Remuneration Committee (current)
1954-05-17
Kumiko SHIRAI
Outside Director
Apr 2004: Representative Director, President, Nihon Unisys Learning Co., Ltd. Apr 2005: Vice Chairman, Japan Project Management Association (NPO) (current) Apr 2006: General Manager, Human Resources Development Department, Nihon Unisys, Ltd. (now BIPROGY Inc.) Apr 2007: General Manager, NET Center, Research Institute, Nihon Unisys, Ltd. Apr 2009: General Manager, Technology Division, Nihon Unisys, Ltd. Apr 2014: Auditor, International P2M Society (current) Apr 2016: General Manager, Organization Development Department, Nihon Unisys, Ltd. (now BIPROGY Inc.) Apr 2017: Executive Officer, Nihon Unisys, Ltd.; Officer in charge of Business Division; CRMO, CISO, CPO Apr 2019: Executive Officer, Nihon Unisys, Ltd.; Officer in charge of Human Resources Division; General Manager, Human Resources Department Apr 2022: Officer in charge of Global Business Division; General Manager, Global Business Division, Nihon Unisys, Ltd. Apr 2023: Managing Executive Officer, CISO, CPO, Uniadex, Ltd. Apr 2023: Director, Vice President, International P2M Society (current) Jun 2024: Outside Director, Meidensha Corporation (current) Jun 2025: Outside Director, Kurimoto, Ltd. (current)
1962-12-17
Seiji KATO
Director (Full-time Audit and Supervisory Committee Member)
Apr 1988: Joined Meidensha Corporation Jan 2013: General Manager, General Affairs and Legal Department, Human Resources and General Affairs Group Apr 2014: General Manager, Management Audit Department Apr 2016: General Manager, Legal Department, Human Resources and General Affairs Group Apr 2018: Manager, Audit and Supervisory Board Office Jun 2018: Standing Audit and Supervisory Board Member Jun 2020: Senior Officer; General Manager, Audit and Supervisory Committee Support Department Apr 2021: Executive Officer; General Manager, Audit and Supervisory Committee Support Department Apr 2024: Executive Officer; Manager, Audit and Supervisory Committee Support Department Jun 2024: Director (Full-time Audit and Supervisory Committee Member) (current)
1962-11-03
Toshiya NISHINO
Outside Director (Audit and Supervisory Committee Member)
Jun 2005: General Manager, Asset Finance Department, Sumitomo Trust & Banking Co., Ltd. (now Sumitomo Mitsui Trust Bank, Limited) Jun 2006: General Manager, Human Resources Department, Sumitomo Trust & Banking Co., Ltd. May 2009: General Manager, Tokyo Business Department No. 4, Sumitomo Trust & Banking Co., Ltd. Apr 2011: Executive Officer; General Manager, Kyoto Branch, Sumitomo Trust & Banking Co., Ltd. Apr 2014: Managing Executive Officer, Sumitomo Trust & Banking Co., Ltd. Apr 2017: Senior Managing Executive Officer, Sumitomo Mitsui Trust Bank, Limited Apr 2019: President and Director, Sumitomo Mitsui Trust Guarantee Co., Ltd. Apr 2020: President and Director, Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. Apr 2024: Chief Executive Advisor, Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. Jun 2024: Outside Director (Audit and Supervisory Committee Member), Meidensha Corporation (current)
1960-11-06
Takashi KURODA
Outside Director (Audit and Supervisory Committee Member)
Apr 2009: Executive Officer; General Manager, Chubu Division, Mitsui Sumitomo Insurance Company, Limited Apr 2011: Managing Executive Officer; General Manager, Tokyo Corporate Division No. 1, Mitsui Sumitomo Insurance Company, Limited Apr 2014: Senior Managing Executive Officer; General Manager, Tokyo Corporate Division No. 1, Mitsui Sumitomo Insurance Company, Limited Apr 2015: Director, Senior Managing Executive Officer; General Manager, Claims Support Division, Mitsui Sumitomo Insurance Company, Limited Jun 2018: Director, Executive Vice President Executive Officer, Mitsui Sumitomo Insurance Company, Limited Director, Executive Officer, MS&AD Insurance Group Holdings, Inc. Apr 2020: Director, MS&AD Insurance Group Holdings, Inc.; President and Representative Director, Mitsui Sumitomo Insurance Agency Service Co., Ltd. Jun 2021: Outside Audit and Supervisory Board Member, Mitsui Sumitomo Aioi Life Insurance Company, Limited Jun 2022: Outside Director (Audit and Supervisory Committee Member), Meidensha Corporation (current) Jun 2026: Member, Nomination and Remuneration Committee (current)
1956-03-18
Kumiko NAKATSU
Outside Director (Audit and Supervisory Committee Member)
Apr 1995: Joined National Life Finance Corporation (now Japan Finance Corporation) Apr 2011: General Manager, Third Sales Division, dentsu eMarketing One Inc. (now dentsu digital Inc.) Oct 2013: Executive Officer; General Manager, Third Sales Division, dentsu eMarketing One Inc. Jul 2016: Executive Officer, dentsu digital Inc. Jan 2021: Senior Managing Executive Officer, dentsu digital Inc.; Executive Officer, dentsu Japan Mar 2024: Executive Officer; Deputy General Manager, Digital Agency Business Division, trans cosmos inc. Jun 2025: Managing Executive Officer; Deputy Head, CX Business Division; Deputy General Manager, Digital Agency Business Division, trans cosmos inc. Oct 2025: Managing Executive Officer; Deputy Head, CX Business Division; in charge of Digital Agency Business Division, trans cosmos inc. Apr 2026: Managing Executive Officer; Deputy Head, CX Business Division; in charge of Digital Agency Business Division; Deputy General Manager, Digital Produce Business Division, trans cosmos inc. Jun 2026: Outside Director (Audit and Supervisory Committee Member), Meidensha Corporation (current)
1972-06-21
Megumi YOSHIDA
Outside Director (Audit and Supervisory Committee Member)
Dec 2004: Joined Azusa Audit LLC Feb 2013: Principal, Megumi Yoshida Certified Public Accountant Office (current) Dec 2015: Outside Audit and Supervisory Board Member, Hashiras Co., Ltd. Jun 2021: Outside Director, Tokyo Metropolitan Sewerage Service Co., Ltd. (current) Jun 2025: Outside Director, P.C.A. Corporation (current) Jun 2026: Outside Director (Audit and Supervisory Committee Member), Meidensha Corporation (current)
1976-10-01
Large Shareholding Reports
Capital Research and Management Company
2026-07-07
5.52%
Sumitomo Electric Industries, Ltd.
2026-02-19
6.61%→5.57%
Annual report (as of 2026-03-31): 4.80%
Sumitomo Mitsui Trust Bank, Limited
2025-09-19
2.42%→2.42%
Annual report (as of 2026-03-31): 2.42%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-13
Amended Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-07-07
Large Shareholding Report
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-02-19
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-10
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-07
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-08
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-08
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-08
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-09
Quarterly Securities Report
EDINET
2022-08-05
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-09
Quarterly Securities Report
EDINET
2021-11-09
Quarterly Securities Report
EDINET
2021-08-05
Quarterly Securities Report
EDINET
2021-06-24
Annual Securities Report
EDINET
2021-02-05
Quarterly Securities Report
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