Overview
Electric Appliances

Kyosan Electric Manufacturing Co.,Ltd.

Kyosan Electric Mfg. Co., Ltd. is a specialized systems integrator focused on safety-critical infrastructure, operating across two core segments: Signal Systems and Power Electronics. The Signal Systems segment develops and supplies railway signaling systems, platform safety equipment, information display systems for public facilities, and road traffic control systems. The Power Electronics segment manufactures power conversion and supply equipment for railway signaling and industrial applications.

Market Cap
¥65.7B
US$419M
EV
¥72.8B
US$464M
Stock¥1,065▼-1.11%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.0
x
LTM EV/EBIT
11.7
x
LTM PER
10.5
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+78.1%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 4, 26Market: Japan stocks fell on renewed US tariff concerns
2Aug 10, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
65.7BUS$419MMarket Cap25.7BUS$164M+ Debt6.94BUS$44.2M− Cash11.7BUS$74.9M− Inv. Sec.72.8BUS$464MEV
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Performance & Balance
Revenue 5Y (¥B)
72.9US$465M'22/372.3US$461M'23/370.5US$450M'24/385.4US$544M'25/393.1US$594M'26/3
EBITDA 5Y (¥B)
4.90US$31.3M'22/34.12US$26.3M'23/34.36US$27.8M'24/38.04US$51.3M'25/36.38US$40.7M'26/3
Net Income 5Y (¥B)
11.9US$75.6M'22/32.07US$13.2M'23/33.43US$21.9M'24/34.78US$30.5M'25/35.04US$32.2M'26/3
Capital Structure
68%
32%
EquityD/E 0.47xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
23.0US$147M25.1US$160M'22/319.7US$125M27.3US$174M'23/323.4US$149M36.0US$230M'24/320.2US$129M33.7US$215M'25/319.4US$124M31.7US$202M'26/3
Shareholders
Top 10 hold 45.6%
1
Nippon Life Insurance Company
9.86%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.73%
3
Kyosan Electric Manufacturing Co.,Ltd. Employee Stock Ownership Association
5.93%
4
Custody Bank of Japan, Ltd. (Trust Account)
5.61%
5
Keio Corporation
5.09%
6
Central Japan Railway Company
3.18%
7
The Bank of Yokohama, Ltd.
2.25%
8
Meiji Yasuda Life Insurance Company
1.63%
9
DFA INTL SMALL CAP VALUE PORTFOLIO (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.26%
10
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.08%
Management
10 officers
Ryoji KUNISAWA
Representative Director, President and Executive Officer; in charge of Internal Audit Office and R&D Center
Apr 1984 Joined the Company Oct 2011 General Manager, 4th Engineering Department, Signaling Business Division Apr 2014 Executive Officer Apr 2019 Managing Executive Officer; General Manager, Signaling Business Division Jun 2019 Director Dec 2020 Representative Director, President, Kyosan System Co., Ltd. Apr 2022 Representative Director, President and Executive Officer of the Company (current)
1961-12-05
Tatsuya FUJII
Director, Managing Executive Officer; General Manager, Strategic Planning Headquarters; in charge of Corporate Planning & IR Department; General Manager, Transportation Equipment Division
Apr 1987 Joined the Company Jul 2009 General Manager, Personnel Department Apr 2012 General Manager, Personnel Department; General Manager, Facilities & Safety Management Department Apr 2015 Executive Officer; General Manager, Corporate Planning Department; General Manager, Facilities & Safety Management Department May 2021 Representative Director, President, Kyosan Seiki Co., Ltd. Apr 2022 Managing Executive Officer of the Company (current) Apr 2025 General Manager, Strategic Planning Headquarters (current) Jun 2025 Director (current) Jun 2026 General Manager, Transportation Equipment Division (current)
1963-10-30
Tsutomu KANNO
Full-time Corporate Auditor
Apr 1972 Joined the Company Apr 1996 General Manager, Sales Planning Department, Transportation Systems Division (now Transportation Equipment Division) Jun 2004 Executive Officer Apr 2015 Representative Director, President, Kyosan Seiki Co., Ltd. May 2019 Corporate Auditor, Kyosan Seiki Co., Ltd. Jun 2019 Full-time Corporate Auditor of the Company (current)
1949-12-02
Toru ONODERA
Corporate Auditor
May 1979 Joined the Company Oct 2000 General Manager, Administration Department, Semiconductor Equipment Division (now Power Electronics Division) Apr 2007 Executive Officer; General Manager, General Affairs Department Apr 2009 Executive Officer; General Manager, Personnel Department Apr 2012 Managing Executive Officer Jun 2012 Director Apr 2015 Senior Managing Executive Officer Jun 2018 Representative Director Apr 2025 Director Jun 2026 Corporate Auditor (current)
1955-06-28
Mihoko KITAMURA
Director; Chairperson of the Board of Directors
Oct 1997 Passed the National Bar Examination Apr 2000 Registered as attorney (Daini Tokyo Bar Association); joined Maritax Law Office Mar 2011 Registered as attorney in New York State Apr 2012 Conciliation Commissioner, Tokyo Summary Court (current) Jun 2014 Examiner, National Bar Examination (Administrative Law) Mar 2015 Attorney, Sakamoto, Teshima & Kitamura Law and Accounting Office (current) Jun 2019 Outside Director of the Company (current)
1971-06-03
Hiroyuki SASA
Director; Chairperson of the Nomination and Compensation Committee
Apr 1982 Joined Olympus Optical Co., Ltd. (now Olympus Corporation) Apr 2001 General Manager, Endoscope Business Planning Department, Olympus Corporation Apr 2005 General Manager, First Development Division, Olympus Medical Systems Corp. Jun 2007 Executive Officer, Olympus Corporation; Director, Olympus Medical Systems Corp. Apr 2012 Representative Director, President and Executive Officer, Olympus Corporation Apr 2019 Director, Olympus Corporation Jun 2020 Outside Director of the Company (current) Jun 2022 Outside Director, Kanematsu Corporation (current) Jun 2023 Outside Director, Amada Co., Ltd. (current) Nov 2025 Outside Director, Manny Co., Ltd. (current)
1955-09-14
Asako NAGAI
Director
May 2001 Joined Sony Corporation (now Sony Group Corporation) May 2012 Senior Manager, CSR Management, CSR Department, Sony Corporation Apr 2013 Senior Advisor, BSR (U.S. headquarters) Jul 2014 Representative Director, BSR Japan Co., Ltd. (current); Director, BSR (U.S. headquarters) Feb 2020 Managing Director, BSR (U.S. headquarters) (current) Jun 2024 Outside Director of the Company (current)
1969-03-04
Tetsuya NAKANO
Director
Apr 1986 Joined Ajinomoto Co., Inc. Jun 2015 Representative Director, President, Ajinomoto Philippines Corporation Jun 2017 Executive Officer; General Manager, Finance & Accounting Department, Ajinomoto Co., Inc. Jun 2019 Managing Executive Officer, Ajinomoto Co., Inc. Jun 2021 Senior Executive Officer, Ajinomoto Co., Inc. Jun 2024 Outside Director, Isuzu Motors Limited (current) Jun 2025 Outside Director of the Company (current)
1963-06-12
Fumio NISHIMURA
Corporate Auditor
May 2001 Joined The Tokyo-Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.); Branch Manager, Himonya Branch May 2010 Executive Advisor, Head Office, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (now MUFG Bank, Ltd.) Jun 2010 Managing Executive Officer, MST Insurance Service Co., Ltd. Jun 2013 Managing Director, Nippon Carbide Industries Co., Inc. Jun 2016 Representative Director, Senior Managing Executive Officer, Nippon Carbide Industries Co., Inc. Jun 2019 Outside Corporate Auditor of the Company (current); Outside Corporate Auditor, SMK Corporation (current)
1957-10-15
Yukino ENOMOTO
Corporate Auditor
Oct 1997 Passed the National Bar Examination Apr 2000 Registered as attorney (Yokohama Bar Association, now Kanagawa Bar Association); joined Yokohama Sogo Law Office Apr 2007 Partner Attorney, Yokohama Sogo Law Office (current) Jun 2019 Outside Corporate Auditor of the Company (current) Dec 2021 Outside Director, FIXERS Inc. (current) Jan 2025 Outside Director, Cyber Solutions Inc. (current)
1971-04-19
Large Shareholding Reports
Chairman Yoichi SATO, Kyosan Mizuho-kai
2026-01-23
6.09%→7.11%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2026-01-23
7.11%→8.11%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2026-01-23
8.11%→1.23%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2026-01-23
5.03%→6.09%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2026-01-23
5.03%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
7.06%→8.01%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
6.09%→7.06%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
6.09%→7.06%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
5.03%→6.09%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
7.06%→8.01%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
5.03%→6.09%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
8.01%→1.16%
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
5.03%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
8.01%→1.16%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Chairman Yoichi SATO, Kyosan Mizuho-kai
2025-12-12
5.03%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-23
Large Shareholding Report
EDINET
2026-01-23
Large Shareholding Report
EDINET
2026-01-23
Large Shareholding Report
EDINET
2026-01-23
Large Shareholding Report
EDINET
2026-01-23
Large Shareholding Report
EDINETAmended
2025-12-12
Change Report
EDINETAmended
2025-12-12
Change Report
EDINETAmended
2025-12-12
Change Report
EDINET
2025-12-12
Large Shareholding Report
EDINET
2025-12-12
Large Shareholding Report
EDINET
2025-12-12
Large Shareholding Report
EDINET
2025-12-12
Large Shareholding Report
EDINET
2025-12-12
Large Shareholding Report
EDINETAmended
2025-12-12
Change Report
EDINETAmended
2025-12-12
Change Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-06-25
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-12
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
2024-06-21
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
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
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