FUJI CORPORATION

株式会社ＦＵＪＩ

Industrials · Specialty Industrial Machinery

Fuji Corporation manufactures and sells electronic component mounting robots and machine tools in Japan. The company operates through Robot Solutions, Machine Tools, and Other segments. It offers SMT Equipment, machine tools, atmospheric pressure plasma unit, mobility support robot, and public stocker system products. The company was formerly known as Fuji Machine Mfg. Co., Ltd. and changed its name to Fuji Corporation in April 2018. Fuji Corporation was incorporated in 1948 and is headquartered in Chiryu, Japan.

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Price

¥7,938

Market Cap

¥704.9B

Ent. Value

—

Net Cash est

—

Shares Out.

88.8M

P / E

66.3×

EV / EBIT

—

P / Book

3.23×

P / NCAV

5.43×

Div. Yield

1.01%

Financials

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥127.4B	¥127.1B	¥153.3B	¥148.1B
Cost of Sales	¥80.8B	¥80.8B	¥92.7B	¥89.6B
Gross Profit	¥46.6B	¥46.2B	¥60.7B	¥58.5B
SG&A	¥32.9B	¥32.8B	¥33.5B	¥30.0B
Operating Income	¥13.8B	¥13.4B	¥27.1B	¥28.5B
Non-Operating Income	¥1.6B	¥1.6B	¥2.0B	¥1.6B
Dividend Income	¥535M	¥493M	¥569M	¥547M
Interest Income	¥696M	¥431M	¥196M	¥104M
Non-Operating Expenses	¥73M	¥62M	¥122M	¥149M
Interest Expense	¥20M	¥29M	¥6M	¥4M
Ordinary Income	¥15.3B	¥15.0B	¥29.0B	¥29.9B
Pre-tax Income	¥16.3B	¥15.0B	¥29.3B	¥30.1B
Income Taxes	¥5.4B	¥4.6B	¥8.9B	¥8.9B
Current Tax	¥5.0B	¥3.5B	¥8.7B	¥10.0B
Deferred Tax	¥394M	¥1.1B	¥135M	¥-1.1B
Net Income (owners)	¥10.9B	¥10.4B	¥20.5B	¥21.2B
Minority Interest	¥14M	¥-8M	¥-7M	¥11M
Comprehensive Income	¥6.5B	¥20.2B	¥23.5B	¥20.7B
EBITDA	¥24.1B	¥23.1B	¥36.9B	¥37.6B
Goodwill Amort. (J-GAAP)	¥1.2B	¥1.2B	¥1.2B	¥1.0B
EPS	¥119.64	¥110.59	¥212.05	¥219.70
Shares Outstanding	88.8M	92.6M	96.5M	96.4M
Shares Issued (total)	97.8M	97.8M	97.8M	97.8M
Treasury Shares	9.0M	5.2M	1.4M	1.4M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥244.3B	¥250.9B	¥254.2B	¥243.3B
Current Assets	¥155.4B	¥161.4B	¥176.8B	¥166.0B
Cash & Deposits	¥57.6B	¥61.8B	¥59.8B	¥59.5B
Trade Receivables	¥33.9B	¥31.0B	¥40.6B	¥37.2B
Non-Current Assets	¥88.9B	¥89.5B	¥77.4B	¥77.3B
PP&E	¥38.1B	¥33.7B	¥28.3B	¥26.3B
Goodwill	¥8.1B	¥9.4B	¥10.6B	¥11.6B
Intangible Assets	¥22.7B	¥23.6B	¥24.3B	¥25.8B
Investment Securities	¥21.0B	¥25.9B	¥19.8B	¥20.4B
Deferred Tax Assets	¥1.3B	¥1.0B	¥1.7B	¥2.0B
Total Liabilities	¥25.6B	¥22.7B	¥29.1B	¥34.5B
Current Liabilities	¥22.3B	¥18.4B	¥27.6B	¥33.0B
Accounts Payable	¥7.8B	¥6.1B	¥9.1B	¥12.5B
Taxes Payable	¥3.0B	¥589M	¥3.8B	¥6.0B
Non-Current Liabilities	¥3.4B	¥4.3B	¥1.5B	¥1.5B
Pension Obligations	¥422M	¥374M	¥348M	¥326M
Deferred Tax Liab.	¥2.7B	¥3.6B	¥970M	¥1.1B
Total Equity	¥218.7B	¥228.3B	¥225.1B	¥208.8B
Capital Stock	¥5.9B	¥5.9B	¥5.9B	¥5.9B
Capital Surplus	¥7.1B	¥7.1B	¥7.1B	¥7.1B
Retained Earnings	¥204.9B	¥201.3B	¥198.5B	¥185.3B
Treasury Stock	¥-19.7B	¥-11.0B	¥-1.6B	¥-1.7B
AOCI	¥20.4B	¥24.9B	¥15.1B	¥12.1B
Equity (owners)	¥198.1B	¥203.3B	¥209.9B	¥196.6B
Minority Interests	¥120M	¥114M	¥116M	¥117M

Net Cash ⓘ	¥57.6B	¥61.8B	¥59.8B	¥59.5B
NCAV ⓘ	¥129.8B	¥138.8B	¥147.7B	¥131.5B
NCAV/Share	¥1,462	¥1,498	¥1,531	¥1,363
BV/Share	¥2,231	¥2,195	¥2,175	¥2,038

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥23.4B	¥30.2B	¥13.0B	¥15.7B
Interest Paid	¥-20M	¥-29M	¥-6M	¥-4M
Interest Received	¥1.2B	¥926M	¥660M	¥652M
D&A	¥9.1B	¥8.4B	¥8.6B	¥8.0B
Goodwill Amort.	¥1.2B	¥1.2B	¥1.2B	¥1.0B
Investing CF	¥-11.4B	¥-12.4B	¥-5.8B	¥-11.6B
Purchase Investments	¥-2.0B	¥-2.2B	¥-2.2B	¥-525M
Proceeds from Invest.	¥3.2B	¥446M	¥2.1B	¥3.3B
Financing CF	¥-16.2B	¥-17.1B	¥-8.0B	¥-6.5B
Dividends Paid	¥-7.4B	¥-7.6B	¥-7.2B	¥-6.3B
Share Buybacks	¥-8.7B	¥-9.4B	—	—
Free Cash Flow	¥23.4B	¥30.2B	¥13.0B	¥15.7B
Net Change in Cash	¥-4.5B	¥2.5B	¥444M	¥-850M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	4.9%	4.6%	9.4%	10.5%
ROA	4.4%	4.1%	8.2%	8.7%
EPS	¥119.64	¥110.59	¥212.05	¥219.70
DPS	¥80.00	¥80.00	¥80.00	¥70.00
BPS	¥2,461.37	¥2,463.67	¥2,332.15	¥2,163.55
FCF/Share	¥264	¥326	¥135	¥163
NCAV/Share	¥1,462	¥1,498	¥1,531	¥1,363
Payout Ratio	66.9%	72.3%	37.7%	31.9%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 3

Date	Activist	Stake	Event	Flag	Demands
2025-12-19	Nomura Securities Co.,Ltd.	6.27% +1.24%	change	Passive	—
2025-07-04	Nomura Securities Co.,Ltd.	5.03%	initial_5pct	Passive	—
2024-07-29	Mitsubishi UFJ Financial Group Inc.	5.51%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-14 15:30	Div Increase	¥4.4B ¥50.0/sh +25%	FUJI announced a special loss of ¥9.691 billion related to impairment of goodwill and intangible assets at subsidiary Fa…
Summary FUJI announced a special loss of ¥9.691 billion related to impairment of goodwill and intangible assets at subsidiary FastfordTechnology Co., Ltd., driven by delayed project revenue recognition and reduced confidence in acquisition-time earnings capacity due to semiconductor market volatility. Despite the ¥8.666 billion shortfall in net income versus guidance, the company increased its period-end dividend by ¥10 per share from ¥40 to ¥50, bringing total annual dividend to ¥90 per share versus ¥80 prior year, reflecting a 12.5% year-over-year increase and adherence to a 50% dividend payout policy. Deadline: 2026-06-29 YoY: +25% Source (JP) 2026年３月期の期末配当におきまして、普通配当を前回予想の１株当たり40円から10円増配の50円に修正いたします。これにより、年間配当金は１株当たり90円（前期は80円）となります。特別損失の計上、通期連結業績予想と実績値との差異及び剰余金の配当に関するお知らせ TDnet PDF

#	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)	13,708	15.43%
2	Japan Custody Bank 株式会社日本カストディ銀行(信託口)	5,296	5.96%
3	STATE STREET BANK AND TRUST COMPANY ＳＴＡＴＥＳＴＲＥＥＴＢＡＮＫＡＮＤＴＲＵＳＴＣＯＭＰＡＮＹ５０５００１常任代理人株式会社みずほ銀行	4,861	5.47%
4	FUJI Business Partner Stock Ownership Plan ＦＵＪＩ取引先持株会	3,198	3.60%
5	Daido Life Insurance Co. 大同生命保険株式会社常任代理人株式会社日本カストディ銀行	2,506	2.82%
6	MUFG Bank 株式会社三菱ＵＦＪ銀行	2,288	2.57%
7	ＳＴＡＴＥＳＴＲＥＥＴＢＡＮＫＡＮＤＴＲＵＳＴＣＯＭＰＡＮＹ５０５１０３常任代理人株式会社みずほ銀行	1,850	2.08%
8	The Bank of Nagoya, Ltd. 株式会社名古屋銀行	1,554	1.75%
9	ＢＮＹＭＡＳＡＧＴ／ＣＬＴＳＮＯＮＴＲＥＡＴＹＪＡＳＤＥＣ常任代理人株式会社三菱ＵＦＪ銀行	1,259	1.41%
10	ＪＰモルガン証券株式会社	1,223	1.37%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

24.2%

-0.2% 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

18.2%

+1.5% 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		14.04%	14.41%	15.43% +1.02%
Japan Custody Bank 日本カストディ銀行		8.65%	9.97%	8.78% -1.19%
STATE STREET BANK AND TRUST COMPANY みずほ銀行		4.80%	6.91%	7.55% +0.64%
FUJI Business Partner Stock Ownership Plan ＦＵＪＩ取引先持株会		3.25%	3.34%	3.60% +0.26%
MUFG Bank 式会社三菱ＵＦＪ銀行		2.37%	2.47%	2.57% +0.10%
The Bank of Nagoya, Ltd. 式会社名古屋銀行		1.61%	1.67%	1.75% +0.08%
ＢＮＹＭＡＳＡＧＴ／ＣＬＴＳＮＯＮＴＲＥＡＴＹＪＡＳＤＥＣ常任代理人株式会社三菱ＵＦＪ銀行 NEW ENTRY		1.51%	—	1.41% NEW
ＪＰモルガン証券 NEW ENTRY	—	—	—	1.37% NEW
SSBTC CLIENT OMNIBUS ACCOUNT ＳＳＢＴＣＣＬＩＥＮＴＯＭＮＩＢＵＳＡＣＣＯＵＮＴ常任代理人香港上海銀行東京支店 last seen 2024	Exited Top 10	1.90%	2.35%	—
Concentration (HHI) ⓘ		320	380	399

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥17,868M +1% since 2023

Holdings 27 +1 new 4 exited

Trend 1 unwinding vs 2023

Held Company	FY2025 ¥17,868M total		FY2023 ¥17,765M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Sumitomo Realty & Development Co.,Ltd. 住友不動産㈱	2,844	508,500	1,516	508,500	M
YASKAWA Electric Corporation ㈱安川電機	2,420	649,000	3,744	649,000	M
Makita Corporation ㈱マキタ	1,914	388,800	1,275	388,800	M
㈱Ｔ＆Ｄホールディングス	1,670	-62.5% ↓ 526,300	2,302	1,403,400	M
EIZO Corporation ＥＩＺＯ㈱	1,583	+100.0% ↑ 759,800	1,555	379,900	M
Alconix Co., Ltd. アルコニックス㈱	1,466	948,000	1,290	948,000	M
Asahi Intech Co., Ltd. 朝日インテック㈱	1,032	429,200	997	429,200	M
CKD Corporation ＣＫＤ㈱	846	419,100	901	419,100	M
The Bank of Nagoya, Ltd. ㈱名古屋銀行	824	104,820	330	104,820	M
THE ZENITAKA CORPORATION ㈱錢高組	575	149,000	443	149,000	M
Sintokogio,Ltd. 新東工業㈱	509	612,500	510	612,500	M
TACHIBANA ELETECH CO.,LTD. ㈱立花エレテック	464	193,116	384	193,116	M
㈱あいちフィナンシャルグループ	423	NEW New 148,166	—		M
MEIKO CONSTRUCTION CO.,LTD. 名工建設㈱	379	293,000	333	293,000	M
TYK CORPORATION 東京窯業㈱	201	415,000	129	415,000	M
SANYO DENKI CO.,LTD. 山洋電気㈱	196	21,000	129	21,000	M
OKAYA&CO.,LTD. 岡谷鋼機㈱	174	+100.0% ↑ 25,000	129	12,500	M
NAGOYA ELECTRIC WORKS CO.,LTD. 名古屋電機工業㈱	113	50,000	78	50,000	M
㈱三菱ＵＦＪフィナンシャルグループ	87	43,630	36	43,630	M
The Ogaki Kyoritsu Bank, Ltd. ㈱大垣共立銀行	83	35,300	63	35,300	M
KOA CORPORATION ＫＯＡ㈱	33	36,000	66	36,000	M
sun-wa technos corporation サンワテクノス㈱	28	13,200	25	13,200	M
NIPPON THOMPSON CO., LTD. 日本トムソン㈱	4	10,000	5	10,000	M
INFRONEER Holdings Inc. インフロニア・ホールディングス㈱	—		—		M
nichicon corporation ニチコン㈱	—		—		M
The Chukyo Bank, Limited ㈱中京銀行（注）３	—		—		M
㈱愛知銀行（注）３	—		—		M
Chubu Steel Plate Co.,Ltd. 中部鋼鈑㈱	—	−100% Exit —	827	350,000	M
HAMAI CO.,LTD 浜井産業㈱	—	−100% Exit —	319	320,900	M
㈱あいちフィナンシャルグループ（注）３	—	−100% Exit —	318	148,166	M
㈱みずほフィナンシャルグループ	—	−100% Exit —	61	32,684	M
Portfolio total	17,868		17,765

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding