AXELL Corporation designs, manufactures, and sells semiconductor ICs and printed circuit boards with embedded semiconductor ICs in Japan. It is also involved in the research, development, and sale of elemental technologies related to graphics, sound, and machine learning; information securities; and block chain. In addition, the company offers various informational services using the internet; develops and sells software; and designs, manufactures, and sells applied equipment, as well as engages in the secondhand articles trading and other businesses. AXELL Corporation was incorporated in 1996 and is based in Tokyo, Japan.
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Financials
Ownership
Capital Allocation Signals 1
Material Events
Income Statement
Balance Sheet
Cash Flow
Ratios & Growth
Metric
FY 2025
TDnet
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Net Sales
ยฅ14.7B
ยฅ15.2B
ยฅ17.6B
ยฅ14.5B
ยฅ10.7B
ยฅ9.0B
Cost of Sales
ยฅ9.9B
ยฅ10.9B
ยฅ12.0B
ยฅ9.9B
ยฅ7.2B
ยฅ5.9B
Gross Profit
ยฅ4.7B
ยฅ4.4B
ยฅ5.6B
ยฅ4.5B
ยฅ3.5B
ยฅ3.1B
SG&A
ยฅ3.0B
ยฅ2.9B
ยฅ3.2B
ยฅ2.9B
ยฅ2.7B
ยฅ2.6B
Operating Income
ยฅ1.7B
ยฅ1.5B
ยฅ2.4B
ยฅ1.6B
ยฅ839M
ยฅ536M
Non-Operating Income
ยฅ133M
ยฅ116M
ยฅ33M
ยฅ202M
ยฅ164M
ยฅ170M
Dividend Income
โ
ยฅ54M
ยฅ20M
ยฅ8M
ยฅ7M
ยฅ5M
Interest Income
โ
ยฅ3M
ยฅ1M
ยฅ0M
ยฅ0M
ยฅ0M
Non-Operating Expenses
โ
ยฅ34M
ยฅ10M
ยฅ4M
ยฅ1M
ยฅ1M
Ordinary Income
ยฅ1.8B
ยฅ1.5B
ยฅ2.4B
ยฅ1.8B
ยฅ1.0B
ยฅ705M
Pre-tax Income
ยฅ1.8B
ยฅ1.4B
ยฅ2.4B
ยฅ1.7B
ยฅ1.0B
ยฅ699M
Income Taxes
ยฅ531M
ยฅ418M
ยฅ662M
ยฅ359M
ยฅ130M
ยฅ30M
Current Tax
โ
ยฅ430M
ยฅ749M
ยฅ327M
ยฅ155M
ยฅ77M
Deferred Tax
โ
ยฅ-11M
ยฅ-87M
ยฅ31M
ยฅ-24M
ยฅ-47M
Net Income (owners)
ยฅ1.2B
ยฅ978M
ยฅ1.8B
ยฅ1.4B
ยฅ865M
ยฅ670M
Minority Interest
โ
ยฅ6M
ยฅ12M
ยฅ28M
ยฅ3M
ยฅ-1M
Comprehensive Income
โ
ยฅ971M
ยฅ1.9B
ยฅ1.4B
ยฅ822M
ยฅ763M
EBITDA
ยฅ1.8B
ยฅ1.6B
ยฅ2.5B
ยฅ1.7B
ยฅ883M
ยฅ595M
Goodwill Amort. (J-GAAP)
โ
ยฅ5M
ยฅ10M
ยฅ11M
ยฅ11M
ยฅ11M
EPS
ยฅ113.71
ยฅ89.37
ยฅ162.38
ยฅ124.75
ยฅ80.05
ยฅ60.63
Shares Outstanding
โ
11.0M
10.9M
10.9M
10.8M
10.8M
Shares Issued (total)
โ
11.2M
11.2M
11.2M
11.2M
11.2M
Treasury Shares
โ
0.2M
0.3M
0.3M
0.4M
0.4M
Metric
FY 2025
TDnet
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Total Assets
ยฅ16.1B
ยฅ15.0B
ยฅ15.6B
ยฅ13.9B
ยฅ12.3B
ยฅ11.1B
Current Assets
ยฅ12.8B
ยฅ12.4B
ยฅ13.6B
ยฅ12.8B
ยฅ11.0B
ยฅ10.0B
Cash & Deposits
ยฅ4.2B
ยฅ5.0B
ยฅ8.3B
ยฅ9.5B
ยฅ9.1B
ยฅ7.9B
Trade Receivables
โ
โ
โ
โ
โ
ยฅ924M
Non-Current Assets
ยฅ3.3B
ยฅ2.6B
ยฅ2.0B
ยฅ1.1B
ยฅ1.3B
ยฅ1.1B
PP&E
ยฅ186M
ยฅ191M
ยฅ174M
ยฅ133M
ยฅ105M
ยฅ96M
Goodwill
โ
โ
ยฅ5M
ยฅ17M
ยฅ29M
ยฅ41M
Intangible Assets
โ
ยฅ29M
ยฅ38M
ยฅ43M
ยฅ53M
ยฅ56M
Investment Securities
ยฅ2.8B
ยฅ2.2B
ยฅ1.6B
ยฅ763M
ยฅ834M
ยฅ783M
Deferred Tax Assets
โ
ยฅ67M
ยฅ56M
ยฅ28M
ยฅ85M
ยฅ40M
Total Liabilities
ยฅ2.4B
ยฅ2.0B
ยฅ2.7B
ยฅ2.2B
ยฅ1.6B
ยฅ1.1B
Current Liabilities
ยฅ2.3B
ยฅ2.0B
ยฅ2.6B
ยฅ2.1B
ยฅ1.6B
ยฅ1.0B
ST Debt
โ
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
Taxes Payable
โ
ยฅ76M
ยฅ616M
ยฅ276M
ยฅ136M
ยฅ48M
Non-Current Liabilities
ยฅ42M
ยฅ42M
ยฅ41M
ยฅ42M
ยฅ39M
ยฅ39M
Total LT Borrowings
โ
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
Total Equity
ยฅ13.7B
ยฅ13.0B
ยฅ12.9B
ยฅ11.7B
ยฅ10.6B
ยฅ10.1B
Capital Stock
โ
ยฅ1.0B
ยฅ1.0B
ยฅ1.0B
ยฅ1.0B
ยฅ1.0B
Capital Surplus
โ
ยฅ987M
ยฅ969M
ยฅ896M
ยฅ882M
ยฅ871M
Retained Earnings
ยฅ11.5B
ยฅ10.7B
ยฅ10.6B
ยฅ9.7B
ยฅ8.8B
ยฅ8.2B
Treasury Stock
โ
ยฅ-195M
ยฅ-217M
ยฅ-258M
ยฅ-301M
ยฅ-326M
AOCI
โ
ยฅ343M
ยฅ357M
ยฅ222M
ยฅ166M
ยฅ213M
Equity (owners)
ยฅ13.1B
ยฅ12.5B
ยฅ12.4B
ยฅ11.4B
ยฅ10.4B
ยฅ9.8B
Minority Interests
โ
ยฅ108M
ยฅ101M
ยฅ77M
ยฅ49M
ยฅ23M
Total Interest-Bearing Debt โ
โ
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
Net Cash โ
ยฅ4.2B
ยฅ5.0B
ยฅ8.3B
ยฅ9.5B
ยฅ9.1B
ยฅ7.9B
NCAV โ
ยฅ10.4B
ยฅ10.4B
ยฅ10.9B
ยฅ10.6B
ยฅ9.4B
ยฅ8.9B
NCAV/Share
โ
ยฅ947
ยฅ997
ยฅ975
ยฅ865
ยฅ827
BV/Share
โ
ยฅ1,143
ยฅ1,134
ยฅ1,044
ยฅ959
ยฅ909
Metric
FY 2025
TDnet
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Operating CF
ยฅ223M
ยฅ-1.6B
ยฅ653M
ยฅ1.9B
ยฅ1.6B
ยฅ379M
Taxes Paid
โ
ยฅ-964M
ยฅ-415M
ยฅ-194M
ยฅ-72M
ยฅ-136M
Interest Received
โ
ยฅ56M
ยฅ21M
ยฅ8M
ยฅ7M
ยฅ5M
D&A
ยฅ95M
ยฅ94M
ยฅ73M
ยฅ42M
ยฅ33M
ยฅ48M
Goodwill Amort.
โ
ยฅ5M
ยฅ10M
ยฅ11M
ยฅ11M
ยฅ11M
Investing CF
ยฅ-498M
ยฅ-766M
ยฅ-811M
ยฅ135M
ยฅ-157M
ยฅ22M
CapEx
ยฅ85M
ยฅ101M
ยฅ108M
ยฅ86M
ยฅ14M
ยฅ10M
Purchase Investments
โ
ยฅ-717M
ยฅ-752M
ยฅ-32M
ยฅ-137M
ยฅ-56M
Proceeds from Invest.
โ
ยฅ24M
โ
โ
โ
โ
Financing CF
ยฅ-714M
ยฅ-873M
ยฅ-755M
ยฅ-408M
ยฅ-308M
ยฅ-560M
Dividends Paid
โ
ยฅ-884M
ยฅ-848M
ยฅ-432M
ยฅ-334M
ยฅ-234M
Share Buybacks
โ
โ
โ
โ
โ
ยฅ-326M
Free Cash Flow
ยฅ138M
ยฅ-1.7B
ยฅ545M
ยฅ1.8B
ยฅ1.6B
ยฅ369M
Net Change in Cash
โ
ยฅ-3.2B
ยฅ-893M
ยฅ1.6B
ยฅ1.2B
ยฅ-158M
Metric
FY 2025
TDnet
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Return on Equity (ROE) โ
9.2%
7.6%
14.4%
12.1%
8.4%
6.7%
Return on Assets (ROA) โ
7.9%
6.4%
12.0%
10.3%
7.4%
6.0%
Gross Margin โ
32.1%
28.8%
31.9%
31.4%
33.0%
34.3%
Operating Margin โ
11.4%
9.6%
13.8%
11.2%
7.9%
6.0%
Net Margin โ
8.4%
6.4%
10.1%
9.3%
8.1%
7.4%
Current Ratio โ
5.49x
6.26x
5.15x
5.97x
6.86x
9.79x
Quick Ratio โ
5.49x
6.26x
5.15x
5.97x
6.86x
9.79x
Revenue / Share โ
โ
ยฅ1,390
ยฅ1,607
ยฅ1,330
ยฅ985
ยฅ833
BV/Share โ
โ
ยฅ1,143
ยฅ1,134
ยฅ1,044
ยฅ959
ยฅ909
NCAV/Share โ
โ
ยฅ947
ยฅ997
ยฅ975
ยฅ865
ยฅ827
EPS โ
ยฅ113.71
ยฅ89.37
ยฅ162.38
ยฅ124.75
ยฅ80.05
ยฅ60.63
DPS โ
ยฅ0.00
ยฅ45.00
ยฅ81.00
ยฅ78.00
ยฅ40.00
ยฅ31.00
Payout Ratio โ
0.0%
50.4%
49.9%
62.5%
50.0%
51.1%
FCF/Share โ
โ
ยฅ-152.86
ยฅ49.84
ยฅ165.30
ยฅ148.50
ยฅ34.17
Market Valuation
Avg daily close price for calendar year ร most recently reported EPS / DPS
Metric
CY2023
CY2024
CY2025
Avg P/E โ
12.7ร
EPS from 2023-03
8.8ร
EPS from 2024-03
12.1ร
EPS from 2025-03
Avg Div Yield โ
4.94%
DPS from 2023-03
5.69%
DPS from 2024-03
4.18%
DPS from 2025-03
Avg Daily Close
ยฅ1,578
ยฅ1,423
ยฅ1,078
Growth Rates (CAGR)
Metric
3yr CAGR (FY2022โ2025)
5yr CAGR (FY2020โ2025)
Stock Price
-6.6%
โ
Sales
+0.4%
+10.2%
FCF/Share
โ
โ
EPS
-3.0%
+13.4%
DPS
-100.0%
-100.0%
BV/Share
+6.0%
โ
NCAV/Share
+3.1%
โ
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-11
15:30
Div Increase
ยฅ613M ยฅ57.0/sh
+27%
Accel Corporation announced a dividend increase for fiscal year ending March 31, 2026, raising the dividend per share toโฆ
Summary
Accel Corporation announced a dividend increase for fiscal year ending March 31, 2026, raising the dividend per share to ยฅ57 from ยฅ49 (prior forecast), representing a ยฅ8 increase. The total dividend amount is ยฅ613 million with an effective date of June 19, 2026, maintaining the company's 50% payout ratio policy based on consolidated earnings.
Deadline: 2026-06-19YoY: +27%
Source (JP)
2026ๅนด๏ผๆๆใฎๆๆซ้
ๅฝใซใคใใพใใฆใฏใๅๅไบๆณใใ8ๅๅข้
ใจใชใ๏ผๆ ชๅฝใใ57ๅใจใใใฆใใใ ใใพใใ้ฃ็ต้
ๅฝๆงๅใฏ50.1๏ผ
ใจใชใใพใใ
ๅฐไฝ้ใฎ้
ๅฝ๏ผๅข้
๏ผใซ้ขใใใ็ฅใใ
TDnet PDF
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 4
Large Shareholder Reports 3
#
Shareholder
Shares (thou.)
% of Total
1
Japan Master Trust Bank
ๆฅๆฌใในใฟใผใใฉในใไฟก่จ้่กๆ ชๅผไผ็คพ ๏ผไฟก่จๅฃ๏ผ
1,215,800
2
็ทๅฑ้ปๆฐๆ ชๅผไผ็คพ
969,000
3
ๅธๅ ๆพๅฝฆ
495,800
4
CELSYS,Inc.
ๆ ชๅผไผ็คพใปใซใทใน
464,800
5
ๆพๆตฆ ไธๆ
421,880
6
NORTHERN TRUST CO. (AVFC) RE IEDP AIF CLIENTS NON TREATY ACCOUNT
NORTHERN TRUST CO. (AVFC) RE IEDP AIF CLIENTS NON TREATY ACCOUNT (ๅธธไปปไปฃ็ไบบ ้ฆๆธฏไธๆตท้่กๆฑไบฌๆฏๅบ)
368,000
7
Custody Bank of Japan, Ltd. (Trust Account)
ๆ ชๅผไผ็คพๆฅๆฌใซในใใใฃ้่ก๏ผไฟก่จๅฃ๏ผ
313,100
8
Abal Data Co., Ltd.
ๆ ชๅผไผ็คพใขใใผใซใใผใฟ
260,000
9
ๆฅๆฌใจใณใฟใผใใฉใคใบๆ ชๅผไผ็คพ
227,500
10
ไฝใ
ๆจ ๅฅฝ็พ
207,200
Domestic Nominees
13.9%
+6.1% vs 2024
Trust bank custodians โ GPIF, pensions, investment trusts
Foreign Custodians
3.4%
-1.9% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
27.7%
-0.9% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2022
2023
2024
2025
Japan Master Trust Bank
ๆฅๆฌใในใฟใผใใฉในใไฟก่จ้่ก
8.71%
5.09%
7.78%
11.08%
+3.30%
็ทๅฑ้ปๆฐ
7.84%
7.80%
8.86%
8.83%
-0.03%
ๅธๅ ๆพๅฝฆ
5.50%
5.47%
4.89%
4.52%
-0.37%
CELSYS,Inc.
ๅผไผ็คพใปใซใทใน
โ
โ
4.25%
4.23%
-0.02%
ๆพๆตฆ ไธๆ
3.74%
3.79%
3.81%
3.84%
+0.03%
NORTHERN TRUST CO. (AVFC) RE IEDP AIF CLIENTS NON TREATY ACCOUNT
Northern Trust
โ
3.38%
3.36%
3.35%
-0.01%
Custody Bank of Japan, Ltd. (Trust Account)
NEW ENTRY
ๆฅๆฌใซในใใใฃ้่ก
โ
2.80%
โ
2.85%
NEW
Abal Data Co., Ltd.
ๅผไผ็คพใขใใผใซใใผใฟ
2.40%
2.38%
2.37%
2.37%
ๆฅๆฌใจใณใฟใผใใฉใคใบ
NEW ENTRY
โ
โ
โ
โ
2.07%
NEW
ไฝใ
ๆจ ๅฅฝ็พ
1.91%
1.90%
1.89%
1.88%
-0.01%
JPMorgan Securities Japan Co., Ltd.
JPใขใซใฌใณ่จผๅธ
last seen 2024
Exited Top 10
โ
1.72%
2.55%
โ
STATE STREET BANK AND TRUST COMPANY FOR STATE STREET BANK LUXEMBOURG SCA ON BEHALF OF ITS CLIENTS: DB POOLING-FCP
State Street
last seen 2024
Exited Top 10
โ
โ
1.91%
โ
ไฝใ
ๆจ ๆๅญ
last seen 2022
Exited Top 10
1.91%
โ
โ
โ
ๆด็ฐ ้ซๅนธ
last seen 2023
Exited Top 10
5.95%
5.92%
โ
โ
MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB
last seen 2022
Exited Top 10
3.39%
โ
โ
โ
ๆฃฎๅฑ ๅๅ
last seen 2022
Exited Top 10
3.06%
โ
โ
โ
Concentration (HHI)
โ
251
198
226
287
4 fiscal years ยท top-10 holders per year ยท >2,500 HHI = high concentration ยท entity-resolved
โ CSV
Portfolio Book Value
ยฅ1,577M
Holdings
4
Held Company
FY2025
ยฅ1,577M total
Book Val ยฅM
Shares
1,264
1,081,000
M
179
80,000
M
93
103,700
M
41
6,000
M
Portfolio total 1,577
Book value in ยฅM ยท โ reduced ยท โ increased vs prior year ยท M = mutual holding
ยท Only one fiscal year available
โ CSV
Date Shareholder Stake Event Flag Demands Source
2024-03-04
MIDORIYA ELECTRIC CO,LTD
8.64%
correction
Passive
โ
2024-03-01
MIDORIYA ELECTRIC CO,LTD
8.64%
change
Passive
โ
2024-02-28
Takayuki Shibata
1.61%
change
Passive
โ
Date
Category
Summary
Amount
2026-02-06
๐ค Management Change
CEO
Representative Director and President Akihiro Saito resigned from his position on February 3, 2026, as decided at the board of directors meeting on the same date. At the time of resignation, Saito held 58,650 shares in the company.
โ
โบ
Summary
Representative Director and President Akihiro Saito resigned from his position on February 3, 2026, as decided at the board of directors meeting on the same date. At the time of resignation, Saito held 58,650 shares in the company.
2026ๅนด๏ผๆ๏ผๆฅ้ๅฌใฎๅฝ็คพๅ็ท ๅฝนไผใซใใใฆใไปฃ่กจๅ็ท ๅฝนใฎ็ฐๅใซใคใใฆๆฑบๅฎใใใใพใใใๆฐๅ๏ผๆ่คใๆญๅฎใ่ทๅ๏ผ็ฐๅๅ๏ผ๏ผไปฃ่กจๅ็ท ๅฝน็คพ้ทใ่พไปปๆฅ๏ผ2026ๅนด๏ผๆ๏ผๆฅ
โ