6736
SUNCORPORATION
サン電子株式会社
Electric Appliances
Sun Corporation engages in the global data intelligence, entertainment, information technology, and other businesses in Japan. It develops, manufactures, and sells mobile data transfer devices and mobile data solutions for law enforcement authorities. The company also offers IoT/M2M routers; Bacsoft IoT platform that enables remote monitoring and control of manufacturing and agricultural, and remote facilities; SunDMS, a device management service that enables centralized remote controls; and OKUDAKE-sensors. In addition, it provides AceReal, augmented reality business support solutions with smart glasses and software; and develops and distributes original gaming content, including the Shanghai Series, Ikki, and other casual games. Further, the company plans, develops, and manufactures amusement machines, including hardware to software to develop game machines. Sun Corporation was incorporated in 1971 and is headquartered in Nagoya, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥9.9B
¥10.8B
¥10.0B
¥37.4B
¥37.2B
Cost of Sales
¥7.1B
¥8.0B
¥7.1B
¥11.9B
¥10.9B
Gross Profit
¥2.8B
¥2.8B
¥3.0B
¥25.5B
¥26.3B
SG&A
¥2.8B
¥2.8B
¥2.7B
¥27.2B
¥25.0B
Operating Income
¥-15M
¥1M
¥313M
¥-1.7B
¥1.4B
Non-Operating Income
¥5.2B
¥794M
¥149M
¥15.9B
¥8.3B
Non-Operating Expenses
—
¥86M
¥4.6B
¥45M
¥25M
Interest Expense
—
¥24M
¥10M
¥15M
¥22M
Ordinary Income
¥5.1B
¥710M
¥-4.1B
¥14.2B
¥9.7B
Pre-tax Income
¥9.9B
¥17.9B
¥-4.1B
¥14.0B
¥9.7B
Income Taxes
¥272M
¥719M
¥-342M
¥460M
¥2.2B
Current Tax
—
¥1.7B
¥377M
¥115M
¥2.2B
Deferred Tax
—
¥-977M
¥-719M
¥345M
¥36M
Net Income (owners)
¥9.7B
¥17.2B
¥-3.8B
¥6.9B
¥2.8B
Minority Interest
—
—
—
¥6.6B
¥4.6B
Comprehensive Income
—
¥12.3B
¥3.5B
¥13.5B
¥8.4B
EBITDA
¥227M
¥327M
¥612M
¥-177M
¥2.5B
Goodwill Amort. (J-GAAP)
—
¥67M
¥52M
¥416M
¥203M
EPS
¥441.53
¥774.02
¥-169.82
¥292.82
¥117.77
Shares Outstanding
—
22.3M
22.2M
22.6M
23.9M
Shares Issued (total)
—
24.0M
24.0M
24.0M
24.0M
Treasury Shares
—
1.7M
1.8M
1.4M
0.1M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥53.7B
¥53.1B
¥46.8B
¥41.8B
¥82.1B
Current Assets
¥8.6B
¥16.7B
¥23.4B
¥23.8B
¥72.5B
Cash & Deposits
¥2.2B
¥2.1B
¥1.7B
¥3.1B
¥31.7B
Trade Receivables
—
¥1.7B
¥1.8B
¥2.5B
¥9.8B
Non-Current Assets
¥45.0B
¥36.4B
¥23.4B
¥17.9B
¥9.6B
PP&E
¥1.4B
¥1.4B
¥1.6B
¥1.6B
¥3.5B
Goodwill
—
¥478M
¥458M
¥540M
¥2.8B
Intangible Assets
—
¥684M
¥687M
¥775M
¥4.2B
Investment Securities
¥11.0B
¥10.8B
¥20.7B
¥11.6B
—
Deferred Tax Assets
—
¥572M
—
¥0M
¥1.1B
Total Liabilities
¥5.5B
¥5.5B
¥9.6B
¥6.7B
¥55.0B
Current Liabilities
¥5.3B
¥5.2B
¥4.9B
¥4.0B
¥39.0B
Accounts Payable
—
¥881M
¥2.0B
¥2.4B
¥2.4B
ST Debt
¥2.5B
¥2.3B
¥1.1B
¥205M
¥3.5B
Taxes Payable
—
¥3M
¥361M
¥3M
¥8.5B
Non-Current Liabilities
¥195M
¥279M
¥4.7B
¥2.7B
¥16.1B
Total LT Borrowings
¥139M
¥217M
¥257M
¥249M
¥249M
Pension Obligations
—
¥12M
¥11M
¥10M
¥51M
Deferred Tax Liab.
—
¥8M
¥4.4B
¥2.4B
¥326M
Total Equity
¥48.2B
¥47.6B
¥37.3B
¥35.0B
¥27.0B
Capital Stock
—
¥2.1B
¥2.1B
¥2.1B
¥2.1B
Capital Surplus
—
¥3.3B
¥3.3B
¥3.3B
¥15.9B
Retained Earnings
¥50.3B
¥41.8B
¥26.5B
¥30.8B
¥6.0B
Treasury Stock
—
¥-3.6B
¥-3.6B
¥-2.8B
¥-63M
AOCI
—
¥3.9B
¥8.8B
¥1.5B
¥512M
Equity (owners)
¥45.2B
¥43.6B
¥28.3B
¥33.4B
¥23.9B
Total Interest-Bearing Debt ⓘ
¥2.6B
¥2.5B
¥1.4B
¥454M
¥3.8B
Net Cash ⓘ
¥-350M
¥-397M
¥342M
¥2.7B
¥27.9B
NCAV ⓘ
¥3.1B
¥11.2B
¥13.9B
¥17.1B
¥17.4B
NCAV/Share
—
¥504
¥624
¥755
¥728
BV/Share
—
¥1,959
¥1,273
¥1,475
¥997
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.5B
¥-1.7B
¥2.5B
¥-13.5B
¥3.6B
Interest Paid
—
¥-24M
¥-10M
¥-15M
¥-22M
Interest Received
—
¥76M
¥113M
¥487M
¥135M
D&A
¥243M
¥258M
¥247M
¥1.1B
¥939M
Goodwill Amort.
—
¥67M
¥52M
¥416M
¥203M
Investing CF
¥6.7B
¥3.0B
¥-3.6B
¥-25.1B
¥4.0B
CapEx
¥86M
¥248M
¥119M
¥910M
¥684M
Purchase Investments
—
¥-3.1B
—
¥-6.8B
¥-1.2B
Financing CF
¥-8.1B
¥-829M
¥-385M
¥25.6B
¥-3.0B
Dividends Paid
—
¥-2.0B
¥-453M
¥-479M
¥-718M
Share Buybacks
—
¥-0M
¥-903M
¥-2.7B
¥-0M
LT Debt Repaid
—
¥-47M
¥-57M
¥-20M
¥-52M
Free Cash Flow
¥1.4B
¥-1.9B
¥2.4B
¥-14.4B
¥2.9B
Net Change in Cash
—
¥466M
¥-1.4B
¥-12.2B
¥6.3B
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
20.2%
40.7%
-10.2%
23.2%
14.5%
ROA
18.1%
34.5%
-8.5%
11.1%
3.4%
EPS
¥441.53
¥774.02
¥-169.82
¥292.82
¥117.77
DPS
¥0.00
¥100.00
¥40.00
¥20.00
¥40.00
BPS
¥2,236.91
¥2,135.24
¥1,670.86
¥1,542.39
¥1,018.23
FCF/Share
—
¥-86
¥107
¥-637
¥123
NCAV/Share
—
¥504
¥624
¥755
¥728
Payout Ratio
0.0%
12.9%
—
6.8%
34.0%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 8
Date Activist Stake Event Flag Demands Source
2026-05-13
TOKAI ENGNEERING
21.85%
change
Passive
—
2026-05-13
Oasis Management Company Ltd.
18.45%
-0.34%
change
✓ Activist
—
2026-05-08
ValueAct Capital Management, L.P.
12.08%
+2.19%
change
✓ Activist
—
2026-04-22
Hebara Holdco II, L.P.
17.66%
change
Passive
—
2026-04-16
ValueAct Capital Management, L.P.
9.89%
+2.02%
change
✓ Activist
—
2025-10-09
ValueAct Capital Management, L.P.
7.87%
initial_5pct
✓ Activist
—
2024-08-22
Hebara Holdco II, L.P.
17.66%
initial_5pct
Passive
—
2024-03-26
Oasis Management Company Ltd.
18.79%
change
✓ Activist
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 13
#
Shareholder
Shares (thou.)
% of Total
1
東海エンジニアリング株式会社
4,267,600
19.20%
2
Hebara Holdco II, L.P.(常任代理人 三田証券株式会社)
4,239,600
19.00%
3
OASIS INVESTMENTS II MASTER FUND LTD.
OASIS INVESTMENTS II MASTER FUND LTD.(常任代理人 シティバンク、エヌ・エイ東京支店)
2,031,672
9.10%
4
CGML PB CLIENTACCOUNT/COLLATERAL(常任代理人 シティバンク、エヌ・エイ東京支店)
1,365,271
6.10%
5
OASIS JAPAN STRATEGIC FUND LTD.
OASIS JAPAN STRATEGIC FUND LTD.(常任代理人 シティバンク、エヌ・エイ東京支店)
1,167,428
5.20%
6
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)
1,043,648
4.70%
7
FUJISHOJI CO.,LTD.
株式会社藤商事
940,000
4.20%
8
内海 倫江
680,000
3.10%
9
渡辺 恭江
530,000
2.40%
10
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)(常任代理人 野村證券株式会社)
371,164
1.70%
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
74.7%
+14.2% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
東海エンジニアリング
18.90%
19.20%
19.20%
Hebara Holdco II, L.P.
NEW ENTRY
—
—
—
19.00%
NEW
OASIS INVESTMENTS II MASTER FUND LTD.
3.00%
14.70%
9.10%
-5.60%
CGML PB CLIENTACCOUNT/COLLATERAL
NEW ENTRY
—
—
—
6.10%
NEW
OASIS JAPAN STRATEGIC FUND LTD.
—
5.60%
5.20%
-0.40%
Goldman Sachs
↑
5.60%
2.00%
4.70%
+2.70%
FUJISHOJI CO.,LTD.
式会社藤商事
4.10%
4.20%
4.20%
内海 倫江
3.00%
3.10%
3.10%
渡辺 恭江
3.00%
3.10%
2.40%
-0.70%
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)
NEW ENTRY
—
—
—
1.70%
NEW
Interactive Brokers
last seen 2024
Exited Top 10
3.70%
3.60%
—
CEPLUX- THE INDEPENDENT UCITS PLATFORM 2
last seen 2024
Exited Top 10
—
2.60%
—
BANK JULIUS BAER AND CO., LTD.
last seen 2024
Exited Top 10
—
2.40%
—
MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB
last seen 2023
Exited Top 10
3.30%
—
—
NOMURA CUSTODY NOMINEES LIMITED OMNIBUS-FULLY PAID (CASHPB)
last seen 2023
Exited Top 10
3.70%
—
—
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
last seen 2023
Exited Top 10
2.70%
—
—
Concentration (HHI)
ⓘ
478
682
935
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥1,059M
+137% since 2023
Holdings
13
+10 new
Trend
1 building
vs 2023
Held Company
FY2025
¥1,059M total
FY2023
¥447M total
Book Val ¥M
Shares
Book Val ¥M
Shares
FUJISHOJI CO.,LTD.
㈱藤商事
1,037
+214.9%
↑
915,800
440
290,800
M
The Ogaki Kyoritsu Bank, Ltd.
㈱大垣共立銀行
6
2,500
4
2,500
FUTABA CORPORATION
双葉電子工業㈱
5
NEW
New
10,000
—
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
5
1,157
2
1,157
AXELL CORPORATION
㈱アクセル
4
NEW
New
4,100
—
inspec Inc.
インスペック㈱
1
NEW
New
1,000
—
FFRI Security, Inc.
㈱FFRIセキュリティ
0
NEW
New
100
—
NAGOYA ELECTRIC WORKS CO.,LTD.
名古屋電機工業㈱
0
NEW
New
100
—
Morio Electric Co.
森尾電機㈱
0
NEW
New
100
—
DIGITAL HOLDINGS,INC.
㈱デジタルホールディングス
0
NEW
New
100
—
CELSYS,Inc.
㈱セルシス
0
NEW
New
100
—
FINDEX Inc.
㈱ファインデックス
0
NEW
New
100
—
KYOWA ELECTRONIC INSTRUMENTS CO.,LTD.
㈱共和電業
0
NEW
New
100
—
Portfolio total
1,059
447
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding