4341
SEIRYO ELECTRIC CORPORATION
西菱電機株式会社
Communication Services · Telecom Services
Seiryo Electric Corporation operates in the information and communication technology sectors in Japan. It offers radio system and tracking management solutions comprising automatic vehicle monitoring, disaster prevention and administrative radio, airport vehicle positioning, cloud-based telemetry, IP radio, and golf irrigation management systems for local government and private sectors. The company also provides security and visual information solutions, such as closed-circuit television, digital signage, and intruder-monitoring security sensor systems; and tsunami alerting, river information, sluice gate control and management, road traffic and weather information, and sediment and weather condition notification systems, as well as road information systems for submergence. In addition, it offers radio communication equipment, as well as consulting, designing, and operation of systems. The company was incorporated in 1966 and is headquartered in Kita, Japan.
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⚠ TSE Capital Mandate
P / Book
0.53×
Overview
Filings & Signals
Ownership
Financials
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Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
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FY 2022
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FY 2021
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Net Sales
¥19.3B
¥18.5B
¥17.0B
¥17.2B
Cost of Sales
¥14.1B
¥13.6B
¥12.4B
¥12.3B
Gross Profit
¥5.2B
¥4.9B
¥4.6B
¥4.9B
SG&A
¥4.9B
¥4.7B
¥4.6B
¥4.6B
Operating Income
¥279M
¥195M
¥10M
¥276M
Non-Operating Income
¥13M
¥22M
¥12M
¥41M
Dividend Income
¥2M
¥2M
¥2M
¥1M
Non-Operating Expenses
¥16M
¥14M
¥8M
¥14M
Interest Expense
¥6M
¥2M
¥2M
¥0M
Ordinary Income
¥276M
¥203M
¥14M
¥303M
Pre-tax Income
¥177M
¥183M
¥49M
¥303M
Income Taxes
¥96M
¥-101M
¥376M
¥105M
Current Tax
¥120M
¥88M
¥22M
¥64M
Deferred Tax
¥-23M
¥-189M
¥353M
¥41M
Net Income (owners)
¥81M
¥284M
¥-326M
¥198M
Comprehensive Income
¥97M
¥319M
¥-315M
¥213M
EBITDA
¥433M
¥402M
¥181M
¥470M
EPS
¥23.22
¥81.45
¥-93.43
¥56.62
Shares Outstanding
3.5M
3.5M
3.5M
3.5M
Shares Issued (total)
3.5M
3.5M
3.5M
3.5M
Treasury Shares
0.0M
0.0M
0.0M
0.0M
Metric
FY 2024
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FY 2023
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FY 2022
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FY 2021
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Total Assets
¥12.1B
¥11.7B
¥10.7B
¥10.9B
Current Assets
¥10.5B
¥9.7B
¥8.7B
¥8.9B
Cash & Deposits
¥905M
¥1.1B
¥975M
¥1.3B
Trade Receivables
¥7.2B
¥5.6B
¥5.7B
¥5.1B
Non-Current Assets
¥1.6B
¥1.9B
¥1.9B
¥2.1B
PP&E
¥765M
¥801M
¥822M
¥938M
Intangible Assets
¥151M
¥166M
¥200M
¥205M
Investment Securities
¥118M
¥93M
¥54M
¥46M
Deferred Tax Assets
¥133M
¥117M
¥45M
¥302M
Total Liabilities
¥6.7B
¥6.2B
¥5.5B
¥5.4B
Current Liabilities
¥6.5B
¥6.0B
¥5.2B
¥5.2B
Accounts Payable
¥4.0B
¥3.2B
¥2.9B
¥3.5B
ST Debt
¥900M
¥1.0B
¥1.0B
¥200M
Taxes Payable
¥108M
¥110M
¥26M
¥52M
Non-Current Liabilities
¥250M
¥230M
¥267M
¥163M
Pension Obligations
¥19M
¥17M
—
—
Deferred Tax Liab.
—
—
¥105M
—
Total Equity
¥5.4B
¥5.5B
¥5.2B
¥5.6B
Capital Stock
¥523M
¥523M
¥523M
¥523M
Capital Surplus
¥498M
¥498M
¥498M
¥498M
Retained Earnings
¥4.4B
¥4.4B
¥4.1B
¥4.5B
Treasury Stock
¥-1M
¥-1M
¥-1M
¥-1M
AOCI
¥61M
¥44M
¥10M
¥-1M
Equity (owners)
¥5.4B
¥5.4B
¥5.1B
¥5.6B
Total Interest-Bearing Debt ⓘ
¥900M
¥1.0B
¥1.0B
¥200M
Net Cash ⓘ
¥5M
¥59M
¥-25M
¥1.1B
NCAV ⓘ
¥3.8B
¥3.5B
¥3.2B
¥3.5B
NCAV/Share
¥1,088
¥1,010
¥927
¥997
BV/Share
¥1,536
¥1,553
¥1,471
¥1,590
Metric
FY 2024
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FY 2023
EDINET ↗
FY 2022
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FY 2021
EDINET ↗
Operating CF
¥241M
¥130M
¥-805M
¥1.0B
Taxes Paid
¥-120M
¥9M
¥-43M
¥-88M
Interest Paid
¥-6M
¥-2M
¥-2M
¥0M
Interest Received
¥2M
¥2M
¥2M
¥1M
D&A
¥154M
¥207M
¥171M
¥194M
Investing CF
¥-153M
¥-43M
¥-205M
¥-168M
CapEx
¥101M
¥23M
¥112M
¥107M
Proceeds from Invest.
—
—
—
¥0M
Financing CF
¥-241M
¥-2M
¥707M
¥-520M
Dividends Paid
¥-139M
¥0M
¥-87M
¥-115M
Free Cash Flow
¥140M
¥107M
¥-917M
¥930M
Net Change in Cash
¥-153M
¥83M
¥-302M
¥348M
Metric
FY 2024
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FY 2023
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FY 2022
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FY 2021
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ROE
1.5%
5.4%
-6.1%
3.6%
ROA
0.7%
2.5%
-3.0%
1.8%
EPS
¥23.22
¥81.45
¥-93.43
¥56.62
DPS
¥23.00
¥40.00
¥10.00
¥25.00
BPS
¥1,553.59
¥1,565.58
¥1,474.35
¥1,589.49
FCF/Share
¥40
¥31
¥-262
¥266
NCAV/Share
¥1,088
¥1,010
¥927
¥997
Payout Ratio
99.1%
49.1%
—
44.2%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 3
Date Activist Stake Event Flag Demands Source
2026-02-18
CONCEPT CO.,LTD.
4.0%
+0.08%
correction
Passive
—
2026-02-12
CONCEPT CO.,LTD.
3.92%
change
Passive
—
2025-05-20
Mitsubishi Electric Corporation
20.06%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-14
14:00
Div Increase
¥111M ¥33.0/sh
+43%
Nishiroku Electric (code 4341, TSE Standard) announced a dividend increase for the fiscal year ending March 31, 2026. Th…
Summary
Nishiroku Electric (code 4341, TSE Standard) announced a dividend increase for the fiscal year ending March 31, 2026. The per-share dividend was raised by 3 yen from the prior forecast of 30 yen to 33 yen, representing a 10% increase versus the prior year's 23 yen (43.5% YoY increase). Total dividend amount is 111 million yen, with an effective date of June 26, 2026.
Deadline: 2026-06-26
YoY: +43%
Source (JP)
2026年3月31日を基準日とする剰余金の配当(従来予想に対し、3円増配)を行うことを決議しました。1株当たり33円00銭、配当金の総額111百万円
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
Mitsubishi Electric Corporation
三菱電機株式会社
812,000
23.21%
2
合同会社ニシオカ
800,000
22.87%
3
Employee Stock Ownership Plan
西菱電機従業員持株会
193,000
5.52%
4
株式会社コンセプト
180,000
5.15%
5
西岡 伸明
104,000
2.97%
6
海山 智
84,000
2.40%
7
西井 希伊
49,400
1.41%
8
Sumitomo Mitsui Banking Corporation
株式会社三井住友銀行
48,000
1.37%
9
MUFG Bank
株式会社三菱UFJ銀行
48,000
1.37%
10
アトム電子株式会社
43,900
1.25%
Domestic Nominees
0.0%
+0.0% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
67.5%
+0.2% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Mitsubishi Electric Corporation
三菱電機
23.21%
23.21%
23.21%
同会社ニシオカ
22.87%
22.87%
22.87%
Employee Stock Ownership Plan
西菱電機従業員持株会
5.22%
5.38%
5.52%
+0.14%
式会社コンセプト
5.15%
5.15%
5.15%
西岡 伸明
2.97%
2.97%
2.97%
海山 智
2.40%
2.40%
2.40%
西井 希伊
1.25%
1.37%
1.41%
+0.04%
MUFG Bank
式会社三菱UFJ銀行
1.95%
1.37%
1.37%
Sumitomo Mitsui Banking Corporation
三井住友銀行
1.37%
1.37%
1.37%
アトム電子
—
1.20%
1.25%
+0.05%
吉田 政功
last seen 2023
Exited Top 10
1.33%
—
—
Concentration (HHI)
ⓘ
1139
1139
1141
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved