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Stock Analysis & ValuationOi Electric Co., Ltd. (6822.T)

Professional Stock Screener
Previous Close
¥3,910.00
Sector Valuation Confidence Level
Low
Valuation methodValue, ¥Upside, %
Artificial intelligence (AI)5866.4650
Intrinsic value (DCF)1067.19-73
Graham-Dodd Method9384.34140
Graham Formula9115.52133

Strategic Investment Analysis

Company Overview

Oi Electric Co., Ltd. (6822.T) is a Japanese technology company specializing in information and communication equipment for social infrastructure. Headquartered in Yokohama, the company provides a range of products including optical transport network systems, media converters, and electronic measuring instruments. Oi Electric also offers software solutions, construction and maintenance services for communication networks, and operates in ancillary businesses like restaurants and building management. Founded in 1950, the company plays a critical role in Japan's telecommunications and infrastructure sectors. With a market capitalization of approximately ¥3.5 billion, Oi Electric serves as a niche player in the communication equipment industry, focusing on high-precision measurement and transmission technologies. Its diversified operations, including temporary staffing and facility management, provide additional revenue streams. Investors looking for exposure to Japan's tech-driven infrastructure sector may find Oi Electric an intriguing option due to its specialized product portfolio and long-standing industry presence.

Investment Summary

Oi Electric Co., Ltd. presents a mixed investment profile. The company operates in a stable niche within Japan's communication equipment sector, supported by consistent demand for infrastructure-related technologies. With a revenue of ¥28.1 billion and net income of ¥759.5 million in FY2024, it demonstrates modest profitability. However, its high total debt (¥6.58 billion) relative to cash reserves (¥2.88 billion) raises liquidity concerns. The negative beta (-0.202) suggests low correlation with broader market movements, potentially offering defensive characteristics. The dividend yield, based on a ¥100 per share payout, may appeal to income-focused investors, but the company's growth prospects appear limited given its small market cap and narrow focus. Investors should weigh its specialized market position against financial leverage and sector competition.

Competitive Analysis

Oi Electric Co., Ltd. competes in Japan's communication equipment market with a focus on optical networks and precision measurement tools. Its competitive advantage lies in deep technical expertise and long-term relationships within Japan's infrastructure sector. The company's optical transport network systems cater to specialized needs, differentiating it from broader telecom equipment providers. However, its small scale (¥3.5B market cap) limits R&D spending compared to global giants, potentially hindering innovation in fast-evolving fields like 5G. Oi Electric's diversification into services (construction, staffing) provides stability but dilutes tech focus. While its negative beta indicates resilience to market swings, this may also reflect limited growth expectations. The company's real strength is its entrenched position in Japan's niche infrastructure markets, but it faces pressure from both domestic tech firms and multinationals offering integrated solutions. Its ability to maintain margins (2.7% net margin in FY2024) amidst pricing competition will be crucial for future competitiveness.

Major Competitors

  • NEC Corporation (6701.T): NEC is a Japanese tech giant with ¥3.1 trillion market cap, offering end-to-end IT and network solutions. Its scale and R&D budget dwarf Oi Electric's, particularly in 5G and AI-driven infrastructure. However, NEC's broad focus may leave niche optical measurement markets open for Oi. NEC's global reach also exposes it to geopolitical risks absent from Oi's domestic model.
  • Nippon Telegraph and Telephone Corporation (9432.T): NTT (¥16.8T market cap) dominates Japan's telecom infrastructure. Its vertical integration threatens Oi's equipment sales, but NTT often partners with specialists like Oi for custom solutions. Oi's advantage lies in agile customization for smaller projects, whereas NTT focuses on large-scale deployments. NTT's financial strength allows undercutting on pricing.
  • TDK Corporation (6762.T): TDK (¥2.5T market cap) competes in electronic components and sensors. While broader than Oi, overlapping areas like measurement devices create competition. TDK's global supply chain offers cost advantages, but Oi's Japan-centric service network provides faster response times for domestic clients. TDK's stronger balance sheet supports more aggressive innovation.
  • Tokyo Electron Device Limited (8035.T): This ¥142B cap firm specializes in semiconductors and electronic devices. Its focus on cutting-edge components contrasts with Oi's infrastructure hardware, but both serve Japan's tech infrastructure needs. Tokyo Electron's growth trajectory in advanced electronics may draw investor attention away from traditional players like Oi.
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