Overview
Electric Appliances

NICHICON CORPORATION

Nichicon Corporation operates two core business segments: the Capacitor Business and the NECST Business. The Capacitor Business manufactures and sells aluminum electrolytic capacitors, small lithium-ion secondary batteries, power electronics film capacitors, xEV film capacitors, and transformers. The NECST Business provides residential energy storage systems, V2H (Vehicle-to-Home) systems, EV/PHV rapid chargers, switching power supplies, functional modules, public and industrial energy storage systems, large-scale special power supplies, medical/academic accelerator power supplies, and pressure sensors.

Market Cap
¥143B
US$910M
EV
¥109B
US$694M
Stock¥2,124▼-3.06%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.5
x
LTM EV/EBIT
12.2
x
LTM PER
18.8
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+17.9%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 7, 26Convertible bond (CB) issuance announcement sparks dilution concerns, stock plunges
MC → EV Bridge
143BUS$910MMarket Cap24.5BUS$156M+ Debt27.6BUS$176M− Cash34.5BUS$220M− Inv. Sec.3.82BUS$24.4M+ NCI109BUS$694MEV
AI Briefing
Nichicon: capacitors plus NECST energy storage/V2H/EV charging play, global manufacturing footprint. FY26/3 revenue ¥170B, OP margin 3.8% - rebuilding after three years of margin erosion from 6.9% to 3.0%. Market cap ¥158B, EV ¥124B; no tender offer in play - standalone name with bank/trust-heavy shareholder base.
Performance & Balance
Revenue 5Y (¥B)
142US$907M'22/3185US$1.18B'23/3182US$1.16B'24/3176US$1.12B'25/3170US$1.08B'26/3
EBITDA 5Y (¥B)
12.5US$79.6M'22/320.2US$129M'23/315.9US$101M'24/313.7US$87.2M'25/314.5US$92.7M'26/3
Net Income 5Y (¥B)
7.90US$50.4M'22/37.81US$49.8M'23/38.25US$52.6M'24/35.88US$37.5M'25/36.31US$40.2M'26/3
Capital Structure
84%
EquityD/E 0.20xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
49.1US$313M25.6US$163M'22/352.9US$338M33.5US$213M'23/360.8US$388M23.6US$151M'24/352.2US$333M26.3US$167M'25/353.9US$344M25.1US$160M'26/3
Shareholders
Top 10 hold 51.0%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
13.10%
2
Custody Bank of Japan, Ltd. (Trust Account)
7.10%
3
NICHICON CORPORATION Business Partners' Stock Ownership Association
5.70%
4
The Bank of Kyoto, Ltd.
4.90%
5
Mizuho Bank, Ltd.
4.00%
6
Nippon Life Insurance Company
4.00%
7
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
3.50%
8
Sumitomo Mitsui Banking Corporation
3.30%
9
MUFG Bank, Ltd.
3.00%
10
NICHICON CORPORATION Employee Stock Ownership Association
2.40%
Management
12 officers
Ippei TAKEDA
Representative Director, Chairman and CEO
Mar 1963: Joined Nichicon Feb 1978: Representative Director, Nichicon (America) Corporation Jun 1983: Director, Nichicon Dec 1983: General Manager, International Division, Nichicon Jul 1995: General Manager, Ohno Plant, and in charge of overseas sales, Nichicon Jun 1997: Managing Director, Nichicon Jun 1998: Representative Director, President, Nichicon Jun 2003: Representative Director, President, Executive Officer, Nichicon Jun 2007: Representative Director, Chairman, Executive Officer, Nichicon Jun 2013: Representative Director, Chairman and CEO, Nichicon (current)
1941-01-11
Katsuhiko MORI
Representative Director, President and COO
Apr 1991: Joined Nichicon Jan 2003: Deputy General Manager, First Sales Department, Tokyo Branch, East Japan Sales Division, Nichicon Jan 2004: General Manager, Overseas Sales Division, Sales Division, Nichicon Feb 2004: General Manager, Nichicon (Taiwan) Company Limited Jun 2011: Chairman, Nichicon (Taiwan) Company Limited Jan 2014: Head of Greater China Sales, Nichicon; Chairman, Nichicon (Hong Kong) Limited Jul 2020: Executive Officer, Nichicon; General Manager, Capacitor Division, Nichicon Jun 2023: Representative Director, President and COO, Nichicon (current)
1968-01-06
Akihiro YANO
Director, Executive Managing Officer; General Manager, Administration Division and Sustainability Promotion Office
Apr 1980: Joined Pioneer Corporation Apr 2001: Director, Business Planning Division, Pioneer Europe N.V. May 2005: President and Representative Director, Pioneer Electronics Deutschland GmbH Dec 2009: Joined Nichicon; Deputy General Manager, Production Control Department, Production Division, Nichicon Oct 2010: Deputy General Manager, Planning Division, Nichicon May 2011: General Manager, Planning Division, Nichicon Jul 2011: Executive Officer, Nichicon Jun 2013: Director, Nichicon (current) Jul 2015: Executive Officer, Senior Managing Executive Officer, Nichicon Jul 2017: Senior Executive Officer, Senior Managing Executive Officer, Nichicon Feb 2022: General Manager, Sustainability Promotion Office, Nichicon (current) Jul 2023: Director, Executive Managing Officer, Nichicon (current) Jul 2025: General Manager, Administration Division, Nichicon (current)
1957-12-18
Kazumi MATSUSHIGE
Director
Apr 1981: Associate Professor, Research Institute for Applied Mechanics, Kyushu University May 1990: Professor, Faculty of Engineering, Kyushu University Apr 1993: Professor, Department of Electronic Science and Engineering, Graduate School of Engineering, Kyoto University Jul 1996: Director, Venture Business Laboratory, Kyoto University Apr 2001: Director, Research Center for Integrated Science and Technology, Kyoto University Apr 2004: Vice President (Industry-Academia Collaboration and Intellectual Property), Kyoto University Apr 2005: Director, Organization for Innovation and Collaboration, Kyoto University Apr 2012: Professor Emeritus, Kyoto University; Specially Appointed Professor, Ryukoku University Jun 2012: Outside Director, Nichicon (current) Apr 2013: President, Shikoku University and Shikoku University Junior College (current) Jun 2016: Outside Director, Awa Paper Manufacturing Co., Ltd.
1947-08-15
Kazuhiko KATO
Director
Apr 1975: Joined Ministry of Finance Jul 2007: Director-General, Tax Bureau, Ministry of Finance Jul 2009: Commissioner, National Tax Agency Jul 2010: Retired as Commissioner, National Tax Agency Jan 2011: Managing Director, Japan Securities Depository Center, Inc. Jun 2011: President and Representative Director, Japan Securities Depository Center, Inc. Jun 2013: Outside Director, Toyota Motor Corporation Mar 2014: Outside Director, Canon Inc. Jul 2015: Director and Representative Executive Officer, President, Japan Securities Depository Center, Inc. Jun 2019: Full-time Audit & Supervisory Board Member, Toyota Motor Corporation Jun 2023: Outside Director, Nichicon (current) Jun 2024: Outside Director (Audit and Supervisory Committee Member), Asahi Broadcasting Group Holdings Corporation (current); Outside Director, Chubu Electric Power Co., Inc. (current) Jun 2025: Director, Nichicon (current)
1952-07-21
Tomoko KURIMOTO
Director
Dec 2007: Registered as attorney, Osaka Bar Association; joined Kansai Law and Patent Office Jan 2014: Partner Attorney, Kansai Law and Patent Office (current) Jun 2023: Outside Director, Nichicon (current) Jun 2024: Outside Audit & Supervisory Board Member, Kinki Sharyo Co., Ltd. (current)
1981-02-06
Muneya TANIGUCHI
Director
Apr 1985: Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Jun 2011: Executive Officer; General Manager, Third Sales Department, First Sales Division, MUFG Bank, Ltd. May 2015: Managing Executive Officer, MUFG Bank, Ltd. Apr 2019: Senior Managing Executive Officer, MUFG Bank, Ltd. Jun 2019: Representative Director, Senior Managing Executive Officer, MUFG Bank, Ltd. Apr 2021: Representative Director, Deputy President, Executive Officer, MUFG Bank, Ltd. Apr 2022: Vice Chairman, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Apr 2025: Senior Advisor, Mitsubishi UFJ Financial Group, Inc. (MUFG) Securities Holdings Co., Ltd. (current) Jun 2025: Outside Director, Nichicon (current)
1962-06-06
Senkō IKENOBO
Director
Nov 1989: Designated as next Iemoto (headmaster) of the Ikenobo school of flower arrangement Jul 1995: Deputy Head Priest, Shiunzan Chohoji Temple (Rokkakudo) (current) Jan 2007: Vice President, Japan Ikebana Art Association (current) Apr 2012: Vice Chairman, Ikenobo Kadokai (current) Oct 2019: Director, Japan Association for the 2025 World Exposition Dec 2019: Director and Senior Advisor, Japan Association for the 2025 World Exposition Apr 2021: Vice Chairman, Kyoto Keizai Doyukai (current) Jun 2023: Outside Director, Asahi Broadcasting Group Holdings Corporation (current) Dec 2023: Vice President, Director and Senior Advisor, Japan Association for the 2025 World Exposition Jun 2025: Outside Director, Nichicon (current) Apr 2026: Vice President and Director, Japan Association for the 2025 World Exposition (current)
1965-09-20
Shigeo YOSHIDA
Full-time Audit & Supervisory Board Member
Apr 1982: Joined Nichicon Aug 1988: Manager, Nichicon (Singapore) Pte. Ltd. Jun 2003: Deputy General Manager, Overseas Sales Department, Sales Division, Nichicon Nov 2004: General Manager, Management Department, Power Supply Center, Nichicon Apr 2007: Managing Director, Nichicon (Hong Kong) Limited Nov 2008: Head of East Asia Sales, Nichicon Jun 2009: Director, Executive Officer, General Manager, Sales Division, Nichicon May 2011: General Manager, Production Division, Nichicon Jul 2011: Senior Managing Executive Officer, Nichicon Oct 2012: President and Representative Director, Nichicon Foil Corporation Jun 2013: Representative Director, President and COO, Nichicon Jun 2023: Special Advisor, Nichicon Jun 2024: Full-time Audit & Supervisory Board Member, Nichicon (current)
1959-09-07
Yoshiya UENO
Full-time Audit & Supervisory Board Member
Apr 1990: Joined Mitsui Trust Bank, Limited (now Sumitomo Mitsui Trust Bank, Limited) Jan 2001: Joined The Industrial Bank of Japan, Limited (now Mizuho Bank, Ltd.) Dec 2004: General Manager, Capital Markets Department, Mizuho Corporate Asia (Hong Kong) Limited Apr 2015: General Manager, Americas Office, Portfolio Management Department, Mizuho Bank, Ltd.; General Manager, Americas Office, Asset Management Department, Mizuho Bank, Ltd. May 2018: Joined Nichicon; General Manager, Capacitor Division, Nichicon Sep 2019: General Manager, Internal Audit Office, Nichicon Jun 2024: Full-time Audit & Supervisory Board Member, Nichicon (current)
1966-01-08
Yoshihiko NAKATANI
Full-time Outside Audit & Supervisory Board Member
Apr 1972: Joined Matsushita Electric Industrial Co., Ltd. (now Panasonic Holdings Corporation) Apr 1995: General Manager, Multimedia Promotion Office, Matsushita Electric Industrial Apr 1997: Vice President, Panasonic European Laboratories GmbH Sep 1999: Director, Overseas R&D Promotion Center, Matsushita Electric Industrial Oct 2004: Professor, COE Promotion Organization, Ritsumeikan University Apr 2008: Professor, Ritsumeikan Global Innovation Research Organization, Ritsumeikan University Apr 2009: Director, Research Division, Ritsumeikan University Apr 2012: Deputy Director, Industry-Government-Academia Collaboration Strategy Headquarters, Ritsumeikan University Jun 2018: Substitute Audit & Supervisory Board Member, Nichicon Apr 2020: Senior Researcher, Research Organization for Integrated Science and Technology, Ritsumeikan University Jun 2020: Full-time Outside Audit & Supervisory Board Member, Nichicon (current)
1946-10-07
Miki DEN'KAWA
Audit & Supervisory Board Member
Apr 1973: Joined The Yomiuri Shimbun Jun 2007: Executive Officer, General Manager, Production Bureau, Yomiuri Shimbun Tokyo Head Office Jun 2009: Director, Editorial Bureau Chief, Yomiuri Shimbun Jun 2011: Managing Director, Yomiuri Television Broadcasting Co., Ltd. Jun 2013: Director, Senior Managing Director, Yomiuri Television Jun 2014: Representative Director, Senior Managing Director, Yomiuri Television Jun 2016: Representative Director, President, Yomiuri Television Jun 2019: Representative Director, Chairman, Yomiuri Television Jun 2020: Chief Adviser, Yomiuri Television Jul 2022: Adviser, Nichicon Jun 2023: Outside Audit & Supervisory Board Member, Nichicon (current)
1949-07-18
Large Shareholding Reports
Mizuho Bank, Ltd.
2026-10-07
3.84%→3.81%
Annual report (as of 2026-03-31): 4.00%
Mizuho Bank, Ltd.
2026-07-23
3.84%→3.84%
Annual report (as of 2026-03-31): 4.00%
Nomura Asset Management Co., Ltd.
2026-06-22
3.07%
Wellington Management Company LLP
2026-04-03
3.94%→3.40%
Asset Management One Co., Ltd.
2025-12-05
2.83%→3.86%
Mizuho Bank, Ltd.
2025-08-22
3.45%→3.84%
Annual report (as of 2026-03-31): 4.00%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-07
Large Shareholding Report
TDnet
2026-08-05
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-22
Large Shareholding Report
EDINET
2026-04-03
Large Shareholding Report
TDnet
2026-02-06
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-05
Large Shareholding Report
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-08-22
Large Shareholding Report
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-06
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-07-31
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
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
2023-06-29
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
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-15
Quarterly Securities Report
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →