Overview
Transportation Equipment

HI-LEX CORPORATION

Hi-Lex Corporation is a global manufacturer and supplier of control cables and automotive components, serving the automotive (two-wheel and four-wheel), construction equipment, medical device, residential equipment, and marine sectors. Its core products include remote-control cables, window regulators, door modules, door latches, and power liftgates, along with proprietary production machinery. The company is pursuing a strategic transition from mechanical control to electronic control systems, leveraging its core cable and stranded-wire technologies to develop ECU-integrated, modularized solutions.

Market Cap
¥80.5B
US$513M
EV
¥12.6B
US$80.6M
Stock¥2,185▼-0.77%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
0.7
x
LTM EV/EBIT
NM
LTM PER
1.8
x
LTM PBR
0.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-47.6%pt
10012345
Oct 24, 25 – Oct 23, 26StockTOPIX
1Dec 16, 25Profit-taking after sharp rally
2Dec 19, 25Buyback after selling exhaustion
3Mar 3, 26Adjustment after investment securities gain booking
4Mar 23, 26Profit-taking after negative goodwill gain booking
5Jul 10, 26Board approved share buyback
MC → EV Bridge
80.5BUS$513MMarket Cap25.1BUS$160M+ Debt73.8BUS$471M− Cash39.1BUS$249M− Inv. Sec.20.0BUS$127M+ NCI12.6BUS$80.6MEV
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Performance & Balance
Revenue 5Y (¥B)
218US$1.39B'21/10256US$1.63B'22/10299US$1.90B'23/10308US$1.97B'24/10304US$1.94B'25/10
EBITDA 5Y (¥B)
9.15US$58.4M'21/104.58US$29.2M'22/1012.6US$80.4M'23/1010.6US$67.7M'24/1012.9US$82.0M'25/10
Net Income 5Y (¥B)
4.90US$31.2M'21/10-7.12-US$45.4M'22/10-2.99-US$19.1M'23/101.97US$12.6M'24/108.42US$53.7M'25/10
Capital Structure
90%
EquityD/E 0.12xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
94.7US$604M6.86US$43.7M'21/1086.8US$554M11.8US$75.0M'22/1096.3US$614M11.8US$75.1M'23/1095.8US$611M13.1US$83.5M'24/10101US$647M10.6US$67.3M'25/10
Shareholders
Top 10 hold 56.1%
1
Teraura Kosan Co., Ltd.
28.65%
2
CEPLUX- THE INDEPENDENT UCITS PLATFORM 2 (Standing Proxy: Citibank, N.A., Tokyo Branch)
4.66%
3
Teraura Scholarship Foundation (Public Interest Incorporated Foundation)
4.20%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.40%
5
Nippon Life Insurance Company
3.40%
6
NISHIKAWA RUBBER CO.,LTD.
2.79%
7
BNYM SA/NV BNYM IL W/S XENOA JAPAN EQUITY INCOME FUND (Standing Proxy: MUFG Bank, Ltd.)
2.58%
8
NORTHERN TRUST CO.(AVFC)RE UKUC UCITS CLIENTS NON LENDING 10PCT TREATY ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.20%
9
ALPHA CO.,LTD.
2.18%
10
MUFG Bank, Ltd.
1.99%
Management
7 officers
Taro TERAURA
Representative Director, President
Apr 2000 Joined Fuji P.S. Corporation Sep 2002 Joined the Company Jan 2012 Executive Officer of the Company Jan 2013 Managing Director of the Company; in charge of Quality Assurance Dec 2013 In charge of India (Chennai) Business Dec 2015 CEO of HI-LEX HUNGARY CABLE SYSTEM MANUFACTURING LLC and CEO of HI-LEX CZECH, S.R.O. (current) Jan 2018 Senior Managing Director of the Company Jun 2018 In charge of Global Sales Division and Europe Business Jan 2020 Representative Director, President of the Company (current)
1977-05-12
Koichi MATSUMOTO
Full-time Audit and Supervisory Board Member
Mar 1989 Joined the Company Jan 2020 Full-time Audit and Supervisory Board Member of the Company (current)
1966-11-08
Yasuko MASAKI
Director
Apr 1982 Registered as Attorney-at-Law, Kobe Bar Association (now Hyogo Bar Association) (current) Apr 2004 Professor, Graduate School of Law, Kwansei Gakuin University Jan 2008 Director of the Company (current) Apr 2008 President, Hyogo Bar Association Apr 2011 Director, Hyogo Office, Japan Legal Support Center (Houterasu) Apr 2013 Chairperson, Kinki Federation of Bar Associations Jun 2014 Non-Officer Auditor, Consumers' Co-operative Kobe (Coop Kobe) (current) Mar 2018 Outside Audit and Supervisory Board Member, NORITZ CORPORATION Apr 2018 Vice President, Japan Federation of Bar Associations Mar 2019 Outside Director (Audit and Supervisory Committee Member), NORITZ CORPORATION
1955-04-08
Hiromi YOSHIKAWA
Director
Apr 1976 Joined Otsuka Pharmaceutical Co., Ltd. Jul 2001 Director, Otsuka Pharmaceutical Co., Ltd. Jul 2007 Managing Director, Otsuka Pharmaceutical Co., Ltd. Apr 2009 Senior Managing Director, Otsuka Pharmaceutical Factory, Inc. Mar 2017 Advisor, Otsuka Pharmaceutical Factory, Inc. Sep 2017 Director, MNES, Inc. Nov 2018 Director and COO, MNES, Inc. Jan 2021 Director of the Company (current) Feb 2021 Advisor, CureApp, Inc. May 2021 Outside Director, CureApp, Inc. (current)
1953-05-13
Koichi OGATA
Director
Apr 1981 Joined Kanebo Foods Ltd. (now Kracie Co., Ltd.) Dec 2005 Joined Nitta Gelatin Inc. Jun 2012 Director, Nitta Gelatin Inc. Apr 2015 President and Representative Director, Nitta Gelatin Inc. Jan 2026 Director of the Company (scheduled to take office)
1957-07-08
Takashi UEDA
Audit and Supervisory Board Member
Apr 1981 Employed by Osaka Regional Taxation Bureau Jul 2018 Head of Ukyo Tax Office Aug 2019 Registered as Certified Tax Accountant (current) Jan 2022 Audit and Supervisory Board Member of the Company (current)
1958-06-05
Kenryo GOTO
Audit and Supervisory Board Member
Sep 1981 Joined Osaka Office of Asahi & Co. (now Azsa LLC) Mar 1984 Registered as Certified Public Accountant May 2005 Representative Member of Asahi & Co. (currently Partner) Jul 2010 Director of Asahi & Co.; Head of Third Business Division, Osaka Office Jul 2013 Managing Director of Asahi & Co. Jul 2015 Head of Osaka Office, Asahi & Co. Jul 2020 Opened Goto Kenryo Certified Public Accountant Office (current) Apr 2021 Auditor, Hyogo Medical University (current) Jun 2021 Outside Director (Audit and Supervisory Committee Member), Towa Pharmaceutical Co., Ltd. (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), West Japan Railway Company (current) Jan 2024 Audit and Supervisory Board Member of the Company (current)
1958-02-18
Large Shareholding Reports
Zenner Asset Management LLP
2026-03-17
6.29%→7.40%
Zenner Asset Management LLP
2025-10-20
5.16%→6.29%
Teraura Kosan Co., Ltd.
2025-09-17
25.95%→27.16%
Annual report (as of 2026-04-30): 28.65%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-09-04
Q3 Earnings Flash
FY ending Oct 2026
EDINET
2026-06-11
Semi-Annual Securities Report
Period: Nov 2025 – Oct 2026
EDINET
2026-03-17
Large Shareholding Report
TDnet
2026-03-06
Q1 Earnings Flash
FY ending Oct 2026
EDINET
2026-01-23
Annual Securities Report
Period: Nov 2024 – Oct 2025
EDINET
2025-10-20
Large Shareholding Report
EDINET
2025-09-17
Large Shareholding Report
TDnet
2025-09-05
Q3 Earnings Flash
FY ending Oct 2025
EDINET
2025-06-11
Semi-Annual Securities Report
Period: Nov 2024 – Oct 2025
TDnet
2025-03-07
Q1 Earnings Flash
FY ending Oct 2025
EDINET
2025-01-27
Annual Securities Report
Period: Nov 2023 – Oct 2024
EDINET
2024-06-12
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
EDINET
2024-03-13
Quarterly Securities Report
Period: Nov 2023 – Jan 2024
EDINET
2024-01-29
Annual Securities Report
Period: Nov 2022 – Oct 2023
EDINET
2023-09-11
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-09
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-03-10
Quarterly Securities Report
Period: Nov 2022 – Jan 2023
EDINET
2023-01-30
Annual Securities Report
Period: Nov 2021 – Oct 2022
EDINET
2022-09-12
Quarterly Securities Report
EDINET
2022-06-10
Quarterly Securities Report
EDINET
2022-03-11
Quarterly Securities Report
EDINET
2022-01-31
Annual Securities Report
EDINET
2021-09-10
Quarterly Securities Report
EDINET
2021-06-11
Quarterly Securities Report
EDINETAmended
2021-03-19
Amended Annual Securities Report
EDINET
2021-03-10
Quarterly Securities Report
EDINET
2021-01-25
Annual Securities Report
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