Overview
Precision Instruments

Nihon Seimitsu Co.,Ltd.

Nihon Seimitsu is a Japanese manufacturer primarily engaged in the production and sale of watch bands and bezels, where it holds the largest domestic market share in Japan. The company also operates in eyeglass frames through its subsidiary Murai Co., Ltd., and in fishing tackle components and static electricity eliminators. Manufacturing is conducted through overseas subsidiaries in Vietnam and Cambodia to achieve cost competitiveness, while planning, development, and sales functions are centrally managed from its headquarters in Kawaguchi, Saitama.

Market Cap
¥5.68B
US$36.2M
EV
¥7.42B
US$47.3M
Stock¥237▲+1.28%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
10.4
x
LTM EV/EBIT
14.4
x
LTM PER
9.1
x
LTM PBR
2.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+136.3%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
5.68BUS$36.2MMarket Cap2.80BUS$17.9M+ Debt1.02BUS$6.51M− Cash0.04BUS$0.28M− Inv. Sec.7.42BUS$47.3MEV
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Performance & Balance
Revenue 5Y (¥B)
5.74US$36.6M'22/36.90US$44.0M'23/36.73US$42.9M'24/37.16US$45.7M'25/37.90US$50.4M'26/3
EBITDA 5Y (¥B)
0.24US$1.56M'22/30.38US$2.40M'23/30.44US$2.84M'24/30.48US$3.07M'25/30.57US$3.65M'26/3
Net Income 5Y (¥B)
-0.13-US$0.82M'22/30.18US$1.12M'23/30.39US$2.49M'24/3-0.02-US$0.13M'25/30.35US$2.23M'26/3
Capital Structure
45%
55%
EquityD/E 1.23xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
0.51US$3.27M3.26US$20.8M'22/30.63US$4.02M3.18US$20.3M'23/30.99US$6.34M3.10US$19.7M'24/30.90US$5.76M2.97US$18.9M'25/30.97US$6.21M2.70US$17.2M'26/3
Shareholders
Top 10 hold 51.3%
1
Jienco Co., Ltd. (Standing Proxy: Yuji NAGAKI)
21.12%
2
Kyuro Holdings Co., Ltd. (Standing Proxy: Citibank, N.A., Tokyo Branch)
10.54%
3
Kyung-hun KWON
8.10%
4
Kyu Capital Partners Co., Ltd. (Standing Proxy: Leading Securities Co., Ltd.)
4.67%
5
Eisuke MIYAZATO
2.94%
6
Hideo ITO
1.25%
7
JPMorgan Securities Japan Co., Ltd.
1.06%
8
Shigeki OIE
0.93%
9
Morgan Stanley MUFG Securities Co., Ltd.
0.35%
10
Reio SAITO
0.33%
Management
10 officers
Hideo ITO
Representative Director, President
Apr 1975 Joined Tonan Metal Industry Co., Ltd. May 1995 Joined Manse Industry Co., Ltd., Sales Section Manager Apr 1997 General Manager, Sales Department, Manse Industry Co., Ltd. Aug 2001 Joined the Company Aug 2003 General Manager, Second Group Sales Department, the Company Jul 2007 Senior Executive Officer, the Company Dec 2008 Managing Executive Officer, the Company Jun 2009 Director, Managing Executive Officer, the Company Jun 2018 Representative Director, President, the Company (current) Representative Director, Murai Co., Ltd. (current)
1957-03-09
Keiji SHIRASAKA
Director
Apr 1972 Joined Manse Industry Co., Ltd. Apr 1999 General Manager, Technology Department, Unified Headquarters, Manse Industry Co., Ltd. Jul 2001 Joined the Company Aug 2001 General Manager, Development Department No. 2, the Company Jul 2007 Senior Executive Officer, the Company Jun 2009 Director, Senior Executive Officer, the Company (current) Sep 2012 Representative Director, President, Murai Co., Ltd.
1948-10-27
Kyung-hun KWON
Director
Mar 2001 Chairman, Jeonbuk Science College (current) Mar 2004 Honorary Consul of the Republic of Latvia in Korea (current) Jun 2009 Director, the Company (current)
1968-02-18
Hyung-seok KIM
Director
Dec 2000 Team Leader, Jeonbuk Science College Jun 2019 Director, the Company (current) Mar 2025 Dean, International Education Institute, Jeonbuk Science College (current)
1972-01-19
Jin-yong LEE
Director
Jul 2005 Representative Director, Intercon Service Co., Ltd. (current) May 2012 Director, Love and Culture Sharing Foundation (current) Jun 2018 Director, the Company (current)
1968-12-24
Wook KWON
Director
Apr 1996 Head of Planning Office, Hong-il Foundation Jun 2011 Director, the Company Jul 2014 Member, Jeollanam-do Provincial Council May 2023 Director, Munhwa Broadcasting Corporation (MBC) (current) Jun 2023 Director, the Company (current)
1966-10-03
Ki-hwan KWON
Director
Mar 2025 S&P Global Inc. (current) Jun 2025 Director, the Company (current)
1999-10-12
Yutaka MORIYA
Full-time Audit & Supervisory Board Member
Apr 1976 Joined Manse Industry Co., Ltd. Mar 1984 Joined Kowa Engineering Co., Ltd., Quality Technology Section Manager Apr 1994 Joined the Company Jul 1996 Manager, NISSEY VIETNAM CO.,LTD. Jan 2001 Leader, Eyewear Business Division, the Company Jun 2009 Executive Officer, General Affairs Department General Manager, the Company Jun 2018 Full-time Audit & Supervisory Board Member, the Company (current)
1953-01-27
Kazuhiko SATO
Audit & Supervisory Board Member
Apr 1977 Joined Tanaka Accounting Office Jul 1982 Opened Sato Accounting Office (current) Jun 1999 Audit & Supervisory Board Member, the Company (current)
1952-12-16
Chul-min KIM
Audit & Supervisory Board Member
Oct 2004 Registered as attorney-at-law; joined City-Yuwa Partners, Tokyo Bar Association Jan 2014 Partner, City-Yuwa Partners Jun 2017 Audit & Supervisory Board Member, the Company (current)
1978-08-01
Large Shareholding Reports
KWON KYOUNGHOON
2026-09-29
5.94%→4.83%
KWON KYOUNGHOON
2026-09-15
5.94%→4.95%
KWON KYOUNGHOON
2026-09-07
6.93%→5.94%
Correction filing (name/detail fix only) — ratio carried over from the original filing
KWON KYOUNGHOON
2026-09-03
6.93%→5.94%
KWON KYOUNGHOON
2026-08-24
8.10%→8.03%
KWON KYOUNGHOON
2026-08-24
8.03%→6.93%
KWON KYOUNGHOON
2026-03-16
8.10%
Correction filing (name/detail fix only) — ratio carried over from the original filing
KWON KYOUNGHOON
2026-03-13
8.10%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-09-29
Change Report
EDINET
2026-09-15
Large Shareholding Report
EDINETAmended
2026-09-07
Change Report
EDINET
2026-09-03
Large Shareholding Report
EDINETAmended
2026-08-24
Change Report
EDINET
2026-08-24
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-03-16
Change Report
EDINET
2026-03-13
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
EDINET
2026-01-30
Securities Registration Statement
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
EDINET
2025-06-19
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-10
Q3 Earnings Flash
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
EDINET
2024-06-21
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
2023-06-23
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
2022-08-05
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
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