Overview
Wholesale Trade

MANSEI CORPORATION

Bansei Denki is an authorized comprehensive sales agent for Mitsubishi Electric, operating as a technology trading company across three core segments: (1) Electrical Equipment & Industrial Systems (motors, inverters, PLCs, robots, production line control systems), (2) Electronic Devices & IT/Communications Equipment (semiconductors, power devices, LCD panels, servers, EMS), and (3) Facility Equipment (package air conditioners, elevators, escalators, solar power systems, and related installation/maintenance services). The company serves a broad range of industries including manufacturing, logistics, public infrastructure, commercial buildings, and residential facilities, providing end-to-end solutions from product sales to system design, construction, and after-sales maintenance.

Market Cap
¥11.1B
US$70.9M
EV
¥1.80B
US$11.5M
Stock¥6,850▼-2.14%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
1.0
x
LTM EV/EBIT
1.1
x
LTM PER
9.7
x
LTM PBR
0.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+20.0%pt
1001
Oct 27, 25 – Oct 23, 26StockTOPIX
1Oct 31, 25Rise on Q2 earnings announcement
MC → EV Bridge
11.1BUS$70.9MMarket Cap0.31BUS$1.99M+ Debt7.49BUS$47.8M− Cash2.14BUS$13.6M− Inv. Sec.1.80BUS$11.5MEV
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Performance & Balance
Revenue 5Y (¥B)
18.7US$119M'22/323.1US$147M'23/326.2US$167M'24/324.4US$156M'25/327.0US$172M'26/3
EBITDA 5Y (¥B)
0.71US$4.52M'22/31.26US$8.06M'23/31.65US$10.5M'24/31.30US$8.31M'25/31.72US$11.0M'26/3
Net Income 5Y (¥B)
0.40US$2.52M'22/30.60US$3.82M'23/31.07US$6.83M'24/30.87US$5.57M'25/31.11US$7.10M'26/3
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
8.46US$54.0M0.30US$1.91M'22/36.80US$43.3M0.30US$1.91M'23/39.03US$57.6M0.30US$1.91M'24/38.45US$53.9M0.31US$1.98M'25/310.2US$64.8M0.31US$1.99M'26/3
Shareholders
Top 10 hold 53.8%
1
Mitsubishi Electric Corporation
21.56%
2
Nikko Sangyo Co., Ltd.
9.24%
3
Sansei Technos Co.,Ltd.
3.70%
4
Masahiro URABE
3.51%
5
MUFG Bank, Ltd.
3.39%
6
TOYO DENKI SEIZO K.K.(TOYO ELECTRIC MFG.CO.,LTD.)
3.08%
7
Hiroaki URABE
2.52%
8
MANSEI CORPORATION Employee Stock Ownership Association
2.49%
9
Tomoko URABE
2.34%
10
Hikari Tsushin Inc. Investment Business Limited Liability Partnership
1.98%
Management
11 officers
Masahiro URABE
Representative Director, President and Tokyo Branch Manager
Apr 1992 Joined Mitsubishi Electric Corporation Mar 1999 Joined the Company Apr 2001 General Manager, Electrical Equipment Division Jun 2001 Director, General Manager, Electrical Equipment Division Apr 2003 Director, General Manager, Facilities Division Jun 2003 Senior Managing Director, General Manager, Facilities Division Apr 2005 Senior Managing Director Jun 2005 Director, Vice President (Representative Director) Apr 2007 Director, Vice President and Tokyo Branch Manager (Representative Director) Apr 2009 Director, President (Representative Director) May 2025 Director, President (Representative Director) and Tokyo Branch Manager (current)
1969-10-10
Toru HIRAI
Managing Director, General Manager of Administration Division, General Manager of Corporate Planning Department, General Manager of General Affairs Department and General Manager of Operations Department
Apr 1988 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Jun 2008 Fushimi Branch Manager, MUFG Bank, Ltd. May 2013 Nakano-Ekimae Branch Manager, MUFG Bank, Ltd. May 2015 Deputy Manager, East Japan Area, Corporate Business Department, MUFG Bank, Ltd. May 2017 Deputy Manager, West Japan Area, Corporate Business Department, MUFG Bank, Ltd. Jun 2018 Deputy General Manager, Administration Division and General Manager, General Affairs Department, the Company Apr 2019 General Manager, Administration Division, General Manager, Corporate Planning Department and General Manager, General Affairs Department, the Company Jun 2019 Director, General Manager, Administration Division, General Manager, Corporate Planning Department and General Manager, General Affairs Department; Representative Director, Nihonhara Solar Energy Co., Ltd. Apr 2023 Director, General Manager, Administration Division, General Manager, Corporate Planning Department, General Manager, General Affairs Department and General Manager, Operations Department; Representative Director, Nihonhara Solar Energy Co., Ltd. Jun 2023 Managing Director, General Manager, Administration Division, General Manager, Corporate Planning Department, General Manager, General Affairs Department and General Manager, Operations Department; Representative Director, Nihonhara Solar Energy Co., Ltd. (current)
1965-05-11
Hiroo KOJIMA
Managing Director, General Manager of Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and in charge of Wakayama Branch
Apr 1989 Joined the Company Oct 2008 General Manager, Industrial Systems First Department Apr 2018 Deputy General Manager, Industrial Systems Division, General Manager, Industrial Systems First Department and General Manager, Electrical Equipment Department Oct 2018 Deputy General Manager, Industrial Systems Division, General Manager, Industrial Systems Second Department and General Manager, Electrical Equipment Department Apr 2019 General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and General Manager, Industrial Systems Second Department Jun 2019 Director, General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and General Manager, Industrial Systems Second Department Apr 2021 Director, General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and Executive Director, Manse Electric Trading (Shanghai) Co., Ltd. Jun 2023 Managing Director, General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and Executive Director, Manse Electric Trading (Shanghai) Co., Ltd. Apr 2024 Managing Director, General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department, General Manager, Industrial Systems Second Department and Executive Director, Manse Electric Trading (Shanghai) Co., Ltd. Apr 2026 Managing Director, General Manager, Industrial Systems Division, Kobe Branch Manager, in charge of Systems Engineering Department and in charge of Wakayama Branch (current)
1966-08-19
Naoki KAGAWA
Managing Director, General Manager of Facilities Division
Nov 1985 Joined the Company Apr 2003 General Manager, Facilities Second Department Apr 2018 Deputy General Manager, Facilities Division, General Manager, Facilities First Department and General Manager, Facilities Third Department Apr 2019 General Manager, Facilities Division, General Manager, Facilities First Department and General Manager, Facilities Third Department Jun 2019 Director, General Manager, Facilities Division, General Manager, Facilities First Department and General Manager, Facilities Third Department Apr 2023 Director, General Manager, Facilities Division, Tokyo Branch Manager, General Manager, Facilities First Department and General Manager, Facilities Third Department Oct 2023 Director, General Manager, Facilities Division, Tokyo Branch Manager and General Manager, Facilities Third Department Oct 2024 Director, General Manager, Facilities Division and Tokyo Branch Manager Apr 2025 Managing Director, General Manager, Facilities Division and Tokyo Branch Manager May 2025 Managing Director, General Manager, Facilities Division (current)
1962-09-05
Masanobu HANADA
Director, General Manager of Electronic Devices Division and General Manager of Electronic Devices Third Department
Apr 1991 Joined Mitsubishi Electric Corporation Apr 2017 Business Strategy Department Manager, Semiconductor & Device First Business Division, Head Office, Mitsubishi Electric Corporation Apr 2022 Deputy Division Head, Semiconductor & Device First Business Division, Head Office, Mitsubishi Electric Corporation Apr 2023 General Manager, Electronic Devices Division, General Manager, Electronic Technology Department, General Manager, Electronic Devices Third Department and Chairman, Manse Electric (H.K.) Co., Ltd., the Company Jun 2023 Director, General Manager, Electronic Devices Division, General Manager, Electronic Technology Department, General Manager, Electronic Devices Third Department and Chairman, Manse Electric (H.K.) Co., Ltd., the Company Oct 2024 Director, General Manager, Electronic Devices Division, General Manager, Electronic Devices Third Department and Chairman, Manse Electric (H.K.) Co., Ltd., the Company Apr 2026 Director, General Manager, Electronic Devices Division, General Manager, Electronic Devices Third Department, Chairman, Manse Electric (H.K.) Co., Ltd. and Executive Director, Manse Electric Trading (Shanghai) Co., Ltd. (current)
1965-10-20
Takashi YAMAUCHI
Director, General Manager of FA Equipment Division and Wakayama Branch Manager
Apr 1992 Joined Mitsubishi Electric Corporation Dec 2019 FA System Department Manager, Chugoku Branch, Mitsubishi Electric Corporation Apr 2022 Deputy General Manager, FA Equipment Division and General Manager, Power Distribution & Control Department, the Company Apr 2023 General Manager, FA Equipment Division and General Manager, Power Distribution & Control Department, the Company Jun 2023 Director, General Manager, FA Equipment Division and General Manager, Power Distribution & Control Department, the Company Oct 2023 Director, General Manager, FA Equipment Division, the Company Apr 2026 Director, General Manager, FA Equipment Division and Wakayama Branch Manager, the Company (current)
1967-04-13
Kazuhide URATA
Director
Apr 1983 Registered with Osaka Bar Association; joined Kansai Law & Patent Office Jan 1988 Partner Attorney, Kansai Law & Patent Office (now a law corporation) (current) Jun 2015 Audit & Supervisory Board Member, Yotai Co., Ltd. Jun 2018 Director, the Company (current)
1953-07-06
Morio KIMURA
Director
Apr 1993 Joined Mitsubishi Electric Corporation Apr 2020 FA System Department Manager, Kanetsu Branch, Mitsubishi Electric Corporation Apr 2022 Machinery Sales Department II Manager, Head Office, Mitsubishi Electric Corporation Apr 2024 Machinery Planning Department Manager, Head Office, Mitsubishi Electric Corporation Apr 2026 Deputy Branch Manager, Kansai Branch and General Manager, Equipment Department I, Mitsubishi Electric Corporation (current) Jun 2026 Director, the Company (current)
1970-09-12
Tetsuya KOBAYASHI
Standing Corporate Auditor
Jan 1992 Joined the Company Oct 2005 Accounting Section Manager Jun 2024 Standing Corporate Auditor (current)
1965-10-26
Takashi TANIMA
Corporate Auditor
Apr 1992 Joined Asahi Shinwa Audit Corporation (now Azsa LLC) Apr 1995 Registered as Certified Public Accountant Feb 2006 Outside Corporate Auditor, Operation Factory Co., Ltd. (current) Jun 2006 Corporate Auditor, the Company (current) Aug 2010 Director, Head of Strategic Management Office, J-Com Holdings Co., Ltd. (now Like Co., Ltd.) Apr 2011 Head, Takashi Tanima Certified Public Accountant Office (current) Jun 2011 Representative Director, Copuls Co., Ltd. (current) Sep 2013 Corporate Auditor, Comens Holdings Co., Ltd. (current) Dec 2013 Director, Accerea Co., Ltd. Nov 2021 General Manager, Corporate Planning Office, Accerea Co., Ltd. (current)
1969-05-11
Tatsuyuki YAMAGATA
Corporate Auditor
Apr 1993 Joined Mitsubishi Electric Corporation Oct 2020 General Manager, Transportation Planning Department, Head Office, Mitsubishi Electric Corporation Apr 2024 Deputy General Manager, Public Relations Department, Head Office, Mitsubishi Electric Corporation Apr 2026 Deputy General Manager, Business Planning Department, Head Office and Director, Agency Control Center, Mitsubishi Electric Corporation (current) Jun 2026 Corporate Auditor, the Company (current)
1970-02-01
Large Shareholding Reports
Nikko Sangyo Co., Ltd.
2026-06-10
6.52%→9.17%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 9.24%
Nikko Sangyo Co., Ltd.
2026-05-29
6.52%→9.17%
Annual report (as of 2026-03-31): 9.24%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-04
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-29
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-06-10
Change Report
EDINET
2026-05-29
Large Shareholding Report
TDnet
2026-02-03
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-30
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-04
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-30
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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