4971
MEC COMPANY LTD.
メック株式会社
Basic Materials · Specialty Chemicals
MEC Company Ltd. engages in the research and development, production, and sale of chemicals, equipment, and related materials for the production of printed circuit boards in Japan, Taiwan, Hong Kong, China, Thailand, and Europe. It offers various chemicals for electronic substrates, such as roughening type adhesion enhancement; rolled annealed copper roughening treatment; pre-lamination treatment of multilayer substrates and adhesion enhancement for high-frequency substrates; anisotropic etching and seed layer etching; copper surface treatment for CO2 laser direct drilling; degreasing, rust removal, and temporary anti-tarnish; other metal surface treatment; DFR pre-treatment; microetching; etch down; and various residue removal treatments. The company also provides AMALPHA, a metal surface treatment technology for direct metal and resin bonding. MEC Company Ltd. was incorporated in 1969 and is headquartered in Amagasaki, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥20.9B
¥18.2B
¥14.0B
¥16.3B
¥15.0B
Cost of Sales
¥8.0B
¥7.1B
¥5.7B
¥6.5B
¥5.7B
Gross Profit
¥13.0B
¥11.1B
¥8.3B
¥9.8B
¥9.3B
SG&A
¥7.2B
¥6.5B
¥5.8B
¥5.8B
¥5.4B
Operating Income
¥5.7B
¥4.6B
¥2.5B
¥4.0B
¥3.9B
Non-Operating Income
¥318M
¥123M
¥207M
¥253M
¥170M
Dividend Income
¥31M
¥15M
¥13M
¥14M
¥12M
Interest Income
¥30M
¥57M
¥53M
¥29M
¥29M
Non-Operating Expenses
¥14M
¥2M
¥17M
¥11M
¥6M
Interest Expense
¥6M
¥1M
¥1M
¥1M
¥1M
Ordinary Income
¥6.1B
¥4.7B
¥2.7B
¥4.2B
¥4.1B
Pre-tax Income
¥6.5B
¥4.7B
¥3.2B
¥4.2B
¥4.1B
Income Taxes
¥1.4B
¥2.4B
¥914M
¥1.2B
¥1.1B
Current Tax
¥2.1B
¥1.7B
¥719M
¥1.0B
¥1.2B
Deferred Tax
¥-679M
¥698M
¥195M
¥135M
¥-10M
Net Income (owners)
¥5.0B
¥2.3B
¥2.3B
¥3.1B
¥2.9B
Comprehensive Income
¥5.8B
¥3.0B
¥3.2B
¥3.2B
¥4.0B
EBITDA
¥6.6B
¥5.4B
¥3.3B
¥4.8B
¥4.7B
EPS
¥272.14
¥122.38
¥122.29
¥161.22
¥155.28
Shares Outstanding
18.4M
18.9M
18.9M
19.2M
19.2M
Shares Issued (total)
19.6M
20.1M
20.1M
20.1M
20.1M
Treasury Shares
1.2M
1.2M
1.2M
0.9M
0.9M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥36.4B
¥33.0B
¥28.7B
¥27.5B
¥25.3B
Current Assets
¥20.1B
¥19.7B
¥15.5B
¥16.0B
¥13.8B
Cash & Deposits
¥10.3B
¥11.5B
¥8.8B
¥9.4B
¥7.2B
Non-Current Assets
¥16.4B
¥13.4B
¥13.2B
¥11.5B
¥11.5B
PP&E
¥11.9B
¥9.9B
¥9.8B
¥9.0B
¥8.9B
Intangible Assets
¥142M
¥150M
¥160M
¥147M
¥147M
Investment Securities
¥2.2B
¥1.6B
¥1.9B
¥1.3B
¥1.3B
Deferred Tax Assets
¥10M
¥2M
¥11M
¥5M
¥9M
Total Liabilities
¥6.0B
¥6.1B
¥3.9B
¥4.2B
¥4.4B
Current Liabilities
¥4.6B
¥4.5B
¥2.9B
¥3.6B
¥3.8B
Accounts Payable
¥1.1B
¥984M
¥722M
¥817M
¥988M
Taxes Payable
¥1.4B
¥952M
¥181M
¥399M
¥749M
Non-Current Liabilities
¥1.3B
¥1.7B
¥1.0B
¥611M
¥585M
Pension Obligations
¥15M
¥7M
¥5M
¥2M
¥2M
Deferred Tax Liab.
¥1.0B
¥1.5B
¥854M
¥482M
¥478M
Total Equity
¥30.5B
¥26.9B
¥24.8B
¥23.3B
¥20.9B
Capital Stock
¥594M
¥594M
¥594M
¥594M
¥594M
Capital Surplus
¥446M
¥541M
¥541M
¥541M
¥541M
Retained Earnings
¥27.4B
¥24.2B
¥22.7B
¥21.3B
¥19.0B
Treasury Stock
¥-2.4B
¥-2.0B
¥-2.0B
¥-1.1B
¥-1.1B
AOCI
¥4.4B
¥3.6B
¥3.0B
¥2.0B
¥1.9B
Equity (owners)
¥26.1B
¥23.3B
¥21.8B
¥21.3B
¥19.0B
Net Cash ⓘ
¥10.3B
¥11.5B
¥8.8B
¥9.4B
¥7.2B
NCAV ⓘ
¥14.1B
¥13.5B
¥11.6B
¥11.8B
¥9.5B
NCAV/Share
¥768
¥716
¥614
¥616
¥494
BV/Share
¥1,420
¥1,232
¥1,155
¥1,110
¥990
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥4.0B
¥4.2B
¥1.9B
¥3.8B
¥3.0B
Interest Paid
¥-6M
¥-2M
¥-1M
¥-1M
¥-1M
Interest Received
¥61M
¥76M
¥64M
¥47M
¥38M
D&A
¥823M
¥816M
¥773M
¥760M
¥742M
Investing CF
¥-3.4B
¥52M
¥-1.4B
¥-939M
¥-1.1B
CapEx
¥2.7B
¥730M
¥1.9B
¥573M
¥667M
Purchase Investments
¥-12M
¥-46M
¥-144M
¥-274M
¥-37M
Proceeds from Invest.
—
—
¥1M
¥0M
—
Financing CF
¥-2.3B
¥-873M
¥-1.8B
¥-800M
¥-916M
Dividends Paid
¥-935M
¥-850M
¥-857M
¥-785M
¥-537M
Share Buybacks
¥-1.3B
—
¥-900M
¥-0M
¥-0M
Free Cash Flow
¥1.2B
¥3.5B
¥83M
¥3.2B
¥2.3B
Net Change in Cash
¥-1.5B
¥3.6B
¥-1.1B
¥2.2B
¥1.1B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
17.5%
8.9%
9.6%
13.8%
15.4%
ROA
14.5%
7.4%
8.2%
11.6%
11.7%
EPS
¥272.14
¥122.38
¥122.29
¥161.22
¥155.28
DPS
¥96.00
¥45.00
¥45.00
¥45.00
¥35.00
BPS
¥1,668.73
¥1,436.45
¥1,323.24
¥1,226.98
¥1,101.30
FCF/Share
¥68
¥184
¥4
¥169
¥122
NCAV/Share
¥768
¥716
¥614
¥616
¥494
Payout Ratio
35.3%
36.8%
36.8%
27.9%
22.5%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 24
Date Activist Stake Event Flag Demands Source
2026-01-22
SMBC Nikko Securities Inc.
3.74%
change
Passive
—
2025-12-05
Sumitomo Mitsui DS Asset Management Company, Limited
5.78%
initial_5pct
Passive
—
2025-12-03
Wellington Management Hong Kong Ltd
3.23%
-1.99%
change
Passive
—
2025-10-07
Wellington Management Hong Kong Ltd
5.22%
initial_5pct
Passive
—
2025-04-07
Capital Research and Management Company
4.51%
-3.49%
change
Passive
—
2025-03-07
Mizuho Bank, Ltd.
4.41%
-1.27%
change
Passive
—
2025-02-07
Capital Research and Management Company
8.0%
change
Passive
—
2025-01-20
Mitsubishi UFJ Financial Group Inc.
3.54%
-2.11%
change
Passive
—
2024-12-20
Capital Research and Management Company
8.0%
change
Passive
—
2024-12-16
Mitsubishi UFJ Financial Group Inc.
5.65%
initial_5pct
Passive
—
2024-09-20
Sumitomo Mitsui Trust Asset Management Co.,Ltd.
4.61%
-1.08%
change
Passive
—
2024-07-22
Capital Research and Management Company
8.0%
change
Passive
—
2024-06-07
Capital Research and Management Company
8.0%
change
Passive
—
2024-05-22
Mizuho Bank, Ltd.
5.68%
-0.96%
change
Passive
—
2024-05-08
Sumitomo Mitsui Trust Asset Management Co.,Ltd.
5.69%
+1.19%
initial_5pct
Passive
—
2024-01-19
Sumitomo Mitsui Trust Asset Management Co.,Ltd.
4.5%
-0.84%
change
Passive
—
2023-09-25
Mizuho Bank, Ltd.
6.64%
-1.13%
change
Passive
—
2023-08-22
Capital Research and Management Company
8.0%
+1.56%
change
Passive
—
2023-08-07
Capital Research and Management Company
6.44%
initial_5pct
Passive
—
2023-08-03
JPMorgan Asset Management (Japan) Limited
4.02%
-1.87%
change
Passive
—
2023-07-19
JPMorgan Asset Management (Japan) Limited
5.89%
-1.3%
change
Passive
—
2023-07-05
JPMorgan Asset Management (Japan) Limited
7.19%
change
Passive
—
2023-06-21
Sumitomo Mitsui Trust Asset Management Co.,Ltd.
5.34%
change
Passive
—
2023-06-07
Mizuho Bank, Ltd.
7.77%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
Shareholder
Shares (thou.)
% of Total
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
1,981
10.77%
2
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
1,758
9.56%
3
株式会社マエダホールディングス
1,199
6.52%
4
前田和夫
726
3.95%
5
GOLDMAN SACHS INTERNATIONAL
GOLDMAN SACHS INTERNATIONAL (常任代理人 ゴールドマン・サックス証券株式会社)
694
3.77%
6
Business Partner Stock Ownership Plan
メック取引先持株会
562
3.05%
7
前田耕作
555
3.01%
8
Nomura Trust & Banking
野村信託銀行株式会社(投信口)
457
2.48%
9
BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS (常任代理人 香港上海銀行東京支店)
445
2.41%
10
BNY Mellon (Nominee)
ゴールドマン・サックス証券株式会社 BNYM (常任代理人 株式会社三菱UFJ銀行)
360
1.95%
Domestic Nominees
20.3%
-8.4% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
1.9%
-6.2% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
25.2%
+1.4% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Japan Master Trust Bank
日本マスタートラスト信託銀行
12.30%
12.44%
10.77%
-1.67%
Japan Custody Bank
日本カストディ銀行
13.83%
16.28%
9.56%
-6.72%
式会社マエダホールディングス
6.34%
6.34%
6.52%
+0.18%
前田和夫
3.84%
3.84%
3.95%
+0.11%
Goldman Sachs
↑
—
2.83%
3.77%
+0.94%
Business Partner Stock Ownership Plan
メック取引先持株会
2.87%
2.91%
3.05%
+0.14%
前田耕作
2.93%
2.93%
3.01%
+0.08%
Nomura Trust & Banking
野村信託銀行株式会社(投信口)
2.64%
2.78%
2.48%
-0.30%
BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS
NEW ENTRY
—
—
—
2.41%
NEW
BNY Mellon
NEW ENTRY
—
—
—
1.95%
NEW
State Street
last seen 2024
Exited Top 10
8.14%
8.15%
—
Sumitomo Life Insurance
住友生命保険
last seen 2024
Exited Top 10
1.82%
2.13%
—
HSBC-FUND SERVICES CLIENTSA/C 006
last seen 2023
Exited Top 10
1.72%
—
—
Concentration (HHI)
ⓘ
494
578
314
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥1,660M
+28% since 2023
Holdings
7
+1 new
1 exited
Trend
3 building
vs 2023
Held Company
FY2025
¥1,660M total
FY2023
¥1,296M total
Book Val ¥M
Shares
Book Val ¥M
Shares
IBIDEN CO.,LTD.
イビデン㈱
806
+3.0%
↑
119,693
908
116,252
TAIYO HOLDINGS CO., LTD.
太陽ホールディングス㈱
577
+100.0%
↑
121,200
189
60,600
M
Meiko Electronics Co., Ltd.
㈱メイコー
107
10,000
42
10,000
JAPAN PURE CHEMICAL CO.,LTD.
日本高純度化学㈱
77
22,000
54
22,000
M
KYOSHA CO.,LTD.
㈱京写
48
NEW
New
162,000
—
TOPPAN Holdings Inc.
TOPPANホールディングス㈱
45
+2.1%
↑
9,702
37
9,501
KYOEI SANGYO CO.,LTD.
協栄産業㈱
—
—
KYOSHA CO.,LTD.
京写㈱
—
−100%
Exit
—
66
162,000
Portfolio total
1,660
1,296
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding