| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 1875.11 | -1 |
| Intrinsic value (DCF) | 549.20 | -71 |
| Graham-Dodd Method | 1860.95 | -2 |
| Graham Formula | 2670.48 | 41 |
Kikusui Holdings Corporation (6912.T) is a leading Japanese manufacturer of electronic measuring instruments, industrial power supplies, and software solutions. Founded in 1951 and headquartered in Yokohama, the company specializes in DC/AC power supplies, electronic loads, safety test equipment, EMC testers, battery analyzers, and custom control systems. Kikusui serves diverse industries, including electronics manufacturing, energy, and automotive, with a strong presence in Japan and international markets. The company also offers maintenance, calibration, and firmware update services, ensuring long-term customer support. As part of the Industrials sector, Kikusui plays a critical role in precision testing and power supply solutions, catering to the growing demand for reliable electronic measurement tools in industrial automation and R&D. With a market cap of ¥10.86 billion, Kikusui combines technological expertise with a stable financial position, making it a key player in the Electrical Equipment & Parts industry.
Kikusui Holdings presents a stable investment opportunity with moderate growth potential in the niche electronic measurement and power supply market. The company's strong profitability (net income of ¥1.3 billion) and low debt (¥10.37 million) indicate financial health, while its low beta (0.452) suggests lower volatility compared to the broader market. However, its revenue of ¥12.49 billion reflects a relatively small scale in a competitive global industry. The dividend yield (based on ¥47 per share) may appeal to income-focused investors, but growth prospects depend on international expansion and technological innovation. Risks include exposure to cyclical industrial demand and competition from larger multinational players.
Kikusui Holdings holds a specialized position in electronic measurement instruments and industrial power supplies, differentiating itself through precision engineering and a broad product portfolio. Its competitive advantage lies in its deep expertise in Japan's high-quality manufacturing ecosystem, serving domestic industrial and R&D clients with reliable, customized solutions. However, the company faces intense competition from global giants with greater R&D budgets and distribution networks. Kikusui's focus on niche applications—such as fuel cell impedance meters and battery testers—provides some insulation from mass-market competition. Its vertically integrated services, including calibration and software updates, enhance customer retention. While the company has a strong reputation in Japan, its international presence remains limited compared to Western competitors, constraining growth potential. The ability to innovate in emerging areas like EV battery testing and renewable energy systems will be critical for long-term competitiveness.