Overview
Electric Appliances

Shirai Electronics Industrial Co.,Ltd.

Shirai Electronics Industry is primarily engaged in the design, manufacture, and sale of printed wiring boards (PWBs), including double-sided and multilayer rigid boards, aluminum-base substrates, copper pin insertion boards (S-MIT), and transparent film substrates (SPET series), serving markets such as automotive electronics, industrial equipment, home appliances, and communications. The company also develops and sells the 'VISPER' series of automated optical inspection (AOI) machines for bare-board PWB quality control, which are recognized both domestically and internationally. Leveraging a global sales network spanning China (Hong Kong, Zhuhai, Shanghai, Shenzhen), Thailand, India, and previously Mexico, the company supports Japanese manufacturers' overseas production with local procurement capabilities.

Market Cap
¥7.95B
US$50.7M
EV
¥9.04B
US$57.7M
Stock¥530▼-2.39%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.3
x
LTM EV/EBIT
4.8
x
LTM PER
8.3
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-41.7%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 20, 26FY3/27 upward revision (op. profit ¥850M→¥1.8B), dividend hike (¥20→¥28)
2Oct 21, 26FY operating profit upgrade (¥850M→¥1.8B), dividend hike (¥20→¥28), SPET business exit
MC → EV Bridge
7.95BUS$50.7MMarket Cap2.95BUS$18.8M+ Debt1.44BUS$9.20M− Cash0.56BUS$3.58M− Inv. Sec.0.15BUS$0.93M+ NCI9.04BUS$57.7MEV
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Performance & Balance
Revenue 5Y (¥B)
29.4US$187M'22/332.9US$210M'23/328.8US$184M'24/329.3US$187M'25/329.1US$186M'26/3
EBITDA 5Y (¥B)
2.64US$16.8M'22/33.94US$25.1M'23/33.36US$21.4M'24/33.50US$22.3M'25/32.92US$18.6M'26/3
Net Income 5Y (¥B)
1.33US$8.46M'22/32.06US$13.2M'23/31.49US$9.48M'24/32.08US$13.2M'25/31.31US$8.35M'26/3
Capital Structure
79%
21%
EquityD/E 0.27xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
2.95US$18.8M10.4US$66.3M'22/31.93US$12.3M7.68US$49.0M'23/32.69US$17.2M5.41US$34.5M'24/31.54US$9.83M2.89US$18.4M'25/31.39US$8.85M2.04US$13.0M'26/3
Shareholders
Top 10 hold 28.4%
1
Shirai Shoji Co., Ltd.
13.51%
2
Resona Bank, Limited
2.72%
3
Haruo SHIRAI
2.52%
4
Shirai Electronics Industrial Co.,Ltd. Employee Stock Ownership Association
2.34%
5
Daiwa Securities Co. Ltd.
1.87%
6
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
1.56%
7
NORTHERN TRUST CO.(AVFC)RE U.S. TAX EXEMPTED PENSION FUNDS SEC LENDING (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.20%
8
Fukoku Mutual Life Insurance Company
0.96%
9
Takayuki TACHINOU
0.91%
10
TAMURA CORPORATION
0.81%
Management
7 officers
Manabu GOTO
Representative Director, President
Dec 2008 Joined Ernst & Young ShinNihon LLC Feb 2016 Registered as Certified Public Accountant Feb 2018 Joined the Company Jun 2020 Executive Officer, in charge of Domestic Structural Reform and Management Administration Jun 2021 Director, in charge of Management Structural Reform and Management Administration Apr 2022 Director, CFO, in charge of Management Administration Mar 2024 Representative Director, President (current) Important concurrent positions: Chairman, Shirai Electronics Technology (Hong Kong) Co., Ltd. Director, Shirai Electronics Technology (Zhuhai) Co., Ltd. Representative, SHIRAI ELECTRONICS TRADING (INDIA) PVT. LTD.
1979-02-11
Tetsuya ISHIZUMI
Senior Managing Director
Apr 1991 Joined the Company Apr 2012 Seconded to Shirai Electronics Trading (Shenzhen) Co., Ltd. Apr 2014 General Manager, Shirai Electronics Trading (Shenzhen) Co., Ltd. Jul 2020 Executive Officer, in charge of Sales Oct 2023 Senior Managing Director, Shirai Logistics Service Co., Ltd. Mar 2024 Executive Officer, in charge of Sales Jun 2024 Director, in charge of Sales Jun 2026 Senior Managing Director, in charge of Sales (current) Important concurrent positions: Chairman, Shirai Electronics Trading (Shenzhen) Co., Ltd. Chairman, Shirai Electronics Trading (Shanghai) Co., Ltd. Representative, Shirai Electronics Trading (Thailand) Co., Ltd.
1966-08-31
Shin MIYAZAKI
Managing Director
Aug 1990 Joined the Company Apr 2005 Factory Manager, Mikami Plant, and General Manager, Production Control Department Dec 2012 Seconded to Shirai Electronics Trading (Shenzhen) Co., Ltd., Division Head Apr 2016 Division Head, Production Division Jun 2018 Director, in charge of Domestic Production, and Division Head, PCB Production Division Jul 2020 Managing Director, in charge of Domestic PCB Business Jun 2023 Executive Officer, in charge of Domestic PCB Business Jun 2024 Managing Director, in charge of PCB Manufacturing Jun 2025 Managing Director, in charge of PCB Manufacturing and Solutions (current) Important concurrent position: Chairman, Shirai Electronics Technology (Zhuhai) Co., Ltd.
1960-03-07
Toru SANO
Director (Audit and Supervisory Committee Member)
Oct 1987 Joined Nissin Circuit Co., Ltd. (merged into the Company in Apr 1990) Apr 2011 Seconded to Shirai Electronics Technology (Zhuhai) Co., Ltd., Section Manager Apr 2014 Deputy General Manager, Technology Department Apr 2019 Seconded to Shirai Electronics Technology (Zhuhai) Co., Ltd., General Manager Feb 2022 General Manager, Technology Department Jun 2025 Director (Audit and Supervisory Committee Member) (current)
1963-07-01
Daisuke WAKE
Director (Audit and Supervisory Committee Member)
Oct 1998 Joined Chuo Audit Corporation Jan 2005 Opened Wake Certified Public Accountant Office, Office Head (current) Jun 2012 Outside Audit & Supervisory Board Member, TOWA Corporation Jun 2016 Outside Director (Audit and Supervisory Committee Member), TOWA Corporation (current) Jun 2019 Outside Audit & Supervisory Board Member, IACE Travel Co., Ltd. (current) Mar 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Important concurrent positions: Office Head, Wake Certified Public Accountant Office Outside Director (Audit and Supervisory Committee Member), TOWA Corporation Outside Audit & Supervisory Board Member, IACE Travel Co., Ltd.
1968-08-02
Kumiko SHIMIZU
Director (Audit and Supervisory Committee Member)
Jun 2004 Joined Sogo Shingaku Seminar Co., Ltd. Mar 2014 Registered as Attorney-at-Law Jun 2014 Opened Shimizu Law Office Oct 2018 Representative Attorney, Shimizu Law Office LPC (current) Jun 2023 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Important concurrent position: Representative Attorney, Shimizu Law Office LPC
1977-10-23
Akihiko UCHINO
Director (Audit and Supervisory Committee Member)
Apr 1988 Joined Kyocera Corporation May 2001 Joined Prudential Asset Management Japan May 2004 Joined Mitsubishi Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Jan 2024 Seconded to Morgan Stanley MUFG Securities Co., Ltd. Oct 2024 Established Lantena LLC, Designated Member (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1964-08-19
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-06
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-20
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-12-26
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-06-24
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-21
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: Jul 2023 – Sep 2023
EDINETAmended
2023-09-29
Amended Quarterly Securities Report
Period: Apr 2022 – Jun 2022
EDINETAmended
2023-09-29
Amended Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINETAmended
2023-09-29
Amended Quarterly Securities Report
Period: Oct 2021 – Dec 2022
EDINETAmended
2023-09-29
Amended Quarterly Securities Report
Period: Jul 2022 – Sep 2022
EDINET
2023-09-29
Securities Registration Statement
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2021 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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