5214
Nippon Electric Glass Co., Ltd.
日本電気硝子株式会社
Technology · Electronic Components
Nippon Electric Glass Co., Ltd., together with its subsidiaries, manufactures and sells specialty glass products and glass glassmaking machinery in Japan and internationally. The company offers glass products for LCD/OLED displays and optoelectronics, chemical, and lighting; and ultra-thin glass, glass wafers for supporting semiconductors, glass substrates for probe cards, LTCC products, functional glass powders, cover glass for image sensors, and glass tubes for small electronic components. It also provides chopped strands for functional plastics reinforcement, wet chopped strands for building materials, roving for plastics reinforcement, chopped-strand mats for automobiles, and alkali-resistant glass fibers for cement reinforcement. In addition, the company offers glass tubing for pharmaceutical and medical use, radiation shielding glass, super heat-resistant glass-ceramics, fire-rated glass, glass blocks, and glass-ceramic building materials. Its products are used in televisions, displays, smartphones, automotive displays, electronic components, optical communication, buildings, civil engineering, fire-resistant glass, medical containers, and cooktop surfaces applications, as well as observation and operation windows in CT/angiography rooms. Further, the company provides solutions to healthcare, aerospace, semiconductor, infrastructure, glass engineering, automotive, information and communication, and housing equipment and building materials. Nippon Electric Glass Co., Ltd. was incorporated in 1944 and is headquartered in Otsu, Japan.
Price
¥6,532
Market Cap
¥491.4B
Ent. Value
¥458.1B
Net Cash
¥33.3B
Shares Out.
75.2M
P / E
17.1×
EV / EBIT
13.4×
P / Book
1.00×
P / NCAV
6.26×
Div. Yield
2.30%
Financials
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥311.4B | ¥299.2B | ¥280.0B | ¥324.6B | ¥292.0B |
| Cost of Sales | ¥231.4B | ¥244.9B | ¥246.8B | ¥239.1B | ¥209.8B |
| Gross Profit | ¥80.0B | ¥54.3B | ¥33.2B | ¥85.6B | ¥82.3B |
| SG&A | ¥45.9B | ¥48.2B | ¥43.6B | ¥59.4B | ¥49.5B |
| Operating Income | ¥34.1B | ¥6.1B | ¥-10.4B | ¥26.2B | ¥32.8B |
| Non-Operating Income | ¥6.9B | ¥10.1B | ¥6.8B | ¥11.6B | ¥14.6B |
| Dividend Income | ¥1.0B | ¥1.3B | ¥1.4B | ¥1.4B | ¥1.2B |
| Interest Income | ¥848M | ¥916M | ¥780M | ¥684M | ¥831M |
| Non-Operating Expenses | ¥3.3B | ¥3.8B | ¥5.9B | ¥3.8B | ¥2.4B |
| Interest Expense | ¥1.4B | ¥1.1B | ¥1.3B | ¥925M | ¥504M |
| Ordinary Income | ¥37.7B | ¥12.4B | ¥-9.5B | ¥34.1B | ¥45.0B |
| Pre-tax Income | ¥41.9B | ¥23.8B | ¥-28.6B | ¥39.5B | ¥39.1B |
| Income Taxes | ¥11.9B | ¥11.2B | ¥-2.3B | ¥11.0B | ¥10.9B |
| Current Tax | ¥13.6B | ¥10.1B | ¥3.2B | ¥8.1B | ¥12.2B |
| Deferred Tax | ¥-1.7B | ¥1.2B | ¥-5.5B | ¥2.9B | ¥-1.3B |
| Net Income (owners) | ¥29.6B | ¥12.1B | ¥-26.2B | ¥28.2B | ¥27.9B |
| Minority Interest | ¥442M | ¥454M | ¥-97M | ¥327M | ¥329M |
| Comprehensive Income | ¥39.4B | ¥36.5B | ¥-16.6B | ¥40.7B | ¥42.8B |
| EBITDA | ¥58.3B | ¥35.1B | ¥26.8B | ¥55.1B | ¥59.5B |
| EPS | ¥382.33 | ¥141.67 | ¥-282.90 | ¥302.76 | ¥290.98 |
| Shares Outstanding | 75.2M | 80.7M | 89.1M | 93.0M | 93.0M |
| Shares Issued (total) | 89.5M | 99.5M | 99.5M | 99.5M | 99.5M |
| Treasury Shares | 14.3M | 18.8M | 10.4M | 6.5M | 6.5M |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥701.4B | ¥695.2B | ¥703.9B | ¥747.9B | ¥698.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥283.8B | ¥285.5B | ¥253.1B | ¥271.7B | ¥264.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥120.7B | ¥124.0B | ¥75.4B | ¥107.2B | ¥135.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥61.9B | ¥58.7B | ¥58.2B | ¥52.4B | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥417.6B | ¥409.7B | ¥450.8B | ¥476.2B | ¥433.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥360.7B | ¥353.9B | ¥393.0B | ¥425.6B | ¥380.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥4.1B | ¥4.4B | ¥5.0B | ¥5.3B | ¥5.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥42.0B | ¥43.1B | ¥43.4B | ¥40.8B | ¥45.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥1.5B | ¥1.4B | ¥1.8B | ¥1.8B | ¥1.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥205.2B | ¥207.6B | ¥213.8B | ¥219.0B | ¥198.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥117.8B | ¥123.0B | ¥109.0B | ¥131.7B | ¥117.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥39.0B | ¥39.4B | ¥43.2B | ¥52.1B | ¥42.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥23.7B | ¥45.8B | ¥32.5B | ¥40.9B | ¥24.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥8.1B | ¥6.4B | ¥1.0B | ¥1.4B | ¥8.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥87.4B | ¥84.6B | ¥104.7B | ¥87.3B | ¥80.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥63.7B | ¥65.5B | ¥85.8B | ¥62.6B | ¥59.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥1.8B | ¥1.5B | ¥1.4B | ¥1.3B | ¥1.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥5.7B | ¥6.5B | ¥5.3B | ¥9.7B | ¥7.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥496.2B | ¥487.6B | ¥490.1B | ¥528.9B | ¥499.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥32.2B | ¥32.2B | ¥32.2B | ¥32.2B | ¥32.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥33.9B | ¥34.3B | ¥34.3B | ¥34.3B | ¥34.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥398.5B | ¥411.0B | ¥409.9B | ¥446.4B | ¥429.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-48.1B | ¥-60.0B | ¥-31.9B | ¥-20.1B | ¥-20.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥75.9B | ¥66.6B | ¥42.6B | ¥31.6B | ¥19.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥416.5B | ¥417.5B | ¥444.4B | ¥492.7B | ¥475.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥3.8B | ¥3.5B | ¥3.1B | ¥4.6B | ¥4.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥87.4B | ¥111.3B | ¥118.3B | ¥103.5B | ¥84.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥33.3B | ¥12.7B | ¥-42.9B | ¥3.6B | ¥50.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥78.6B | ¥77.9B | ¥39.3B | ¥52.7B | ¥66.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥1,044 | ¥965 | ¥441 | ¥566 | ¥711 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥5,536 | ¥5,172 | ¥4,985 | ¥5,296 | ¥5,113 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥52.0B | ¥52.2B | ¥-1.4B | ¥31.6B | ¥69.9B |
| Interest Paid | ¥-1.4B | ¥-1.0B | ¥-1.4B | ¥-787M | ¥-514M |
| Interest Received | ¥2.0B | ¥2.3B | ¥1.9B | ¥2.0B | ¥1.9B |
| D&A | ¥24.2B | ¥28.9B | ¥37.2B | ¥29.0B | ¥26.7B |
| Investing CF | ¥-10.4B | ¥42.6B | ¥-20.8B | ¥-57.2B | ¥-31.8B |
| Proceeds from Invest. | ¥6.9B | ¥10.7B | ¥4.5B | ¥1.8B | ¥2.9B |
| Financing CF | ¥-45.3B | ¥-48.8B | ¥-11.6B | ¥-5.9B | ¥-29.2B |
| Dividends Paid | ¥-10.6B | ¥-11.0B | ¥-11.2B | ¥-11.2B | ¥-9.7B |
| Share Buybacks | ¥-20.0B | ¥-28.1B | ¥-11.9B | — | ¥-10.0B |
| LT Debt Repaid | ¥-25.0B | ¥-9.0B | ¥-21.0B | ¥-6.0B | ¥-26.4B |
| Free Cash Flow | ¥52.0B | ¥52.2B | ¥-1.4B | ¥31.6B | ¥69.9B |
| Net Change in Cash | ¥-3.3B | ¥48.5B | ¥-31.6B | ¥-27.9B | ¥13.5B |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 6.1% | 2.5% | -5.2% | 5.5% | 5.8% |
| ROA | 4.2% | 1.7% | -3.6% | 3.9% | 4.0% |
| EPS | ¥382.33 | ¥141.67 | ¥-282.90 | ¥302.76 | ¥290.98 |
| DPS | ¥150.00 | ¥130.00 | ¥120.00 | ¥120.00 | ¥110.00 |
| BPS | ¥6,545.03 | ¥5,996.61 | ¥5,463.53 | ¥5,635.52 | ¥5,321.77 |
| FCF/Share | ¥692 | ¥647 | ¥-15 | ¥339 | ¥751 |
| NCAV/Share | ¥1,044 | ¥965 | ¥441 | ¥566 | ¥711 |
| Payout Ratio | 39.2% | 91.8% | — | 39.6% | 37.8% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 40
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
15,015 | 19.96% |
| 2 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
6,067 | 8.07% |
| 3 |
Nomura Trust & Banking
野村信託銀行株式会社(投信口)
|
1,853 | 2.46% |
| 4 |
THE SHIGA BANK,LTD.
株式会社滋賀銀行
|
1,617 | 2.15% |
| 5 |
Business Partner Stock Ownership Plan
日本電気硝子取引先持株会
|
1,391 | 1.85% |
| 6 |
Nipro Co., Ltd.
ニプロ株式会社
|
1,254 | 1.67% |
| 7 | DFA INTL SMALL CAP VALUE PORTFOLIO (常任代理人 シティバンク、エヌ・エイ東京支店) | 1,101 | 1.46% |
| 8 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行)
|
1,047 | 1.39% |
| 9 | THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND (常任代理人 シティバンク、エヌ・エイ東京支店) | 1,010 | 1.34% |
| 10 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行)
|
982 | 1.31% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
28.0%
+1.1% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
2.7%
+2.7% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
10.9%
-8.3% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 41.7% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 18.16% | 18.47% | 19.96% +1.49% | |
| Japan Custody Bank 日本カストディ銀行 | 9.73% | 8.48% | 8.07% -0.41% | |
| Nomura Trust & Banking 野村信託銀行株式会社(投信口) | — | 2.71% | 2.46% -0.25% | |
| THE SHIGA BANK,LTD. 式会社滋賀銀行 | 1.81% | 2.00% | 2.15% +0.15% | |
| Business Partner Stock Ownership Plan 日本電気硝子取引先持株会 ↑ | 1.48% | 1.68% | 1.85% +0.17% | |
| Nipro Co., Ltd. ニプロ | 5.21% | 5.75% | 1.67% -4.08% | |
| DFA INTL SMALL CAP VALUE PORTFOLIO NEW ENTRY | — | — | — | 1.46% NEW |
| State Street NEW ENTRY | — | — | — | 1.39% NEW |
| THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND NEW ENTRY | — | — | — | 1.34% NEW |
| JP Morgan NEW ENTRY | — | — | — | 1.31% NEW |
| 野村 絢 last seen 2024 | Exited Top 10 | 4.00% | 2.47% | — |
| JPモルガン証券 last seen 2024 | Exited Top 10 | 2.79% | 1.69% | — |
| Japan Securities Finance Co.,Ltd. 日本証券金融 last seen 2024 | Exited Top 10 | 1.42% | 1.63% | — |
| Employee Stock Ownership Plan 日本電気硝子従業員持株会 last seen 2024 | Exited Top 10 | — | 1.26% | — |
| BNY Mellon last seen 2023 | Exited Top 10 | 1.33% | — | — |
| 金 慶光 last seen 2023 | Exited Top 10 | 1.68% | — | — |
| Concentration (HHI) ⓘ | 487 | 473 | 488 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥35,975M
-6% since 2023
Holdings
20
+3 new
9 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥35,975M total | FY2023 ¥38,083M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Nipro Co., Ltd.
ニプロ㈱
|
15,088 |
-29.7%
↓
10,215,000
|
16,087 | 14,532,000 | M |
|
Shizuoka Financial Group, Inc.
㈱しずおかフィナンシャルグループ
|
3,205 |
1,318,000
|
1,575 | 1,318,000 | M |
|
NORITZ CORPORATION
㈱ノーリツ
|
2,233 |
1,119,000
|
1,691 | 1,119,000 | M |
|
Sumitomo Realty & Development Co.,Ltd.
住友不動産㈱
|
2,054 |
261,000
|
1,095 | 261,000 | M |
|
THE SHIGA BANK,LTD.
㈱滋賀銀行
|
1,779 |
247,000
|
864 | 247,000 | M |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
1,748 |
+200.9%
↑
346,000
|
795 | 115,000 | M |
|
SINFONIA TECHNOLOGY CO., LTD.
シンフォニアテクノロジー㈱
|
1,703 |
187,000
|
391 | 187,000 | M |
|
Kyoto Financial Group, Inc.
㈱京都フィナンシャルグループ
|
1,694 |
494,000
|
1,085 | 494,000 | M |
|
Mitsubishi Logistics Corporation
三菱倉庫㈱
|
1,649 |
+400.7%
↑
1,377,000
|
1,170 | 275,000 | M |
|
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱
|
1,367 |
NEW
New
286,000
|
— | M | |
|
OSAKA GAS CO.,LTD.
大阪瓦斯㈱
|
874 |
161,000
|
474 | 161,000 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
653 |
NEW
New
262,000
|
— | M | |
|
Inaba Denki Sangyo Co., Ltd.
因幡電機産業㈱
|
537 |
+100.0%
↑
210,000
|
358 | 105,000 | M |
|
The Kansai Electric Power Company, Incorporated
関西電力㈱
|
469 |
191,000
|
357 | 191,000 | M |
|
The Nanto Bank,Ltd.
㈱南都銀行
|
376 |
63,000
|
154 | 63,000 | M |
|
EIZO Corporation
EIZO㈱
|
287 |
NEW
New
128,000
|
— | M | |
|
IWATANI CORPORATION
岩谷産業㈱
|
259 |
+302.6%
↑
157,000
|
253 | 39,000 | M |
| 日新電機㈱ | — | — | M | ||
|
MS&AD Insurance Group Holdings, Inc.
MS&ADインシュアランスグループホールディングス㈱
|
— | — | M | ||
|
Nissha Co., Ltd.
NISSHA㈱
|
— | — | |||
|
AIR WATER INC.
エア・ウォーター㈱
|
— |
−100%
Exit
—
|
1,926 | 1,000,000 | M |
|
Sumitomo Corporation
住友商事㈱
|
— |
−100%
Exit
—
|
234 | 76,000 | M |
|
DAIKIN INDUSTRIES, LTD.
ダイキン工業㈱
|
— |
−100%
Exit
—
|
5,208 | 226,000 | M |
|
SCREEN Holdings Co., Ltd.
㈱SCREENホールディングス
|
— |
−100%
Exit
—
|
1,908 | 160,000 | M |
| 三井住友トラスト・ホールディングス㈱ | — |
−100%
Exit
—
|
774 | 286,000 | M |
|
DIC Corporation
DIC㈱
|
— |
−100%
Exit
—
|
659 | 238,000 | M |
|
nichicon corporation
ニチコン㈱
|
— |
−100%
Exit
—
|
392 | 302,000 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
— |
−100%
Exit
—
|
317 | 262,000 | M |
|
EIZO Corporation
EIZO㈱
|
— |
−100%
Exit
—
|
316 | 64,000 | M |
| Portfolio total | 35,975 | 38,083 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding