IKEGAMI TSUSHINKI CO., LTD.

池上通信機株式会社

Electric Appliances

Ikegami Tsushinki Co., Ltd. engages in the provision of broadcast equipment in Japan and internationally. The company offers broadcast equipment, including camera systems, digital cameras, HDTV camera systems, camera control units, base station, fiber camera adaptors, OLED and LCD viewfinders, system expanders, control panels, command converters, and mounting plate for studio/control room system, relay/broadcasting system/news gathering equipment, R2 remote production system, and helicopter tv system; medical equipment, such as output and medical grade cameras, LCD monitors, and digital video recorders; inspection equipment, including tablet inspection and printing system, medicine inspection equipment, tablet inspection machine, plane and single sheet visual inspection equipment for checking surface of films, panels, and metal foils; and security camera systems. Ikegami Tsushinki Co., Ltd. was formerly known as Ikegami Tsushinki Seisakusho and changed its name to Ikegami Tsushinki Co., Ltd. in 1951. Ikegami Tsushinki Co., Ltd. was founded in 1946 and is based in Tokyo, Japan.

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Price

¥645

Market Cap

¥4.1B

Ent. Value

¥9.2B

Net Debt

−¥5.1B

Shares Out.

6.4M

P / E

17.5×

EV / EBIT

36.2×

⚠ TSE Capital Mandate

P / Book

0.30×

P / NCAV

0.49×

Div. Yield

1.86%

Financials

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥20.7B	¥21.6B	¥22.1B	¥18.5B
Cost of Sales	¥14.8B	¥14.9B	¥17.7B	¥13.4B
Gross Profit	¥5.9B	¥6.7B	¥4.4B	¥5.1B
SG&A	¥5.7B	¥5.9B	¥5.4B	¥4.8B
Operating Income	¥254M	¥794M	¥-997M	¥255M
Non-Operating Income	¥146M	¥179M	¥82M	¥91M
Dividend Income	¥7M	¥6M	¥6M	¥5M
Interest Income	¥21M	¥2M	¥0M	¥0M
Non-Operating Expenses	¥109M	¥71M	¥84M	¥52M
Interest Expense	¥102M	¥68M	¥60M	¥47M
Ordinary Income	¥290M	¥902M	¥-1.0B	¥293M
Pre-tax Income	¥291M	¥901M	¥-1.0B	¥268M
Income Taxes	¥55M	¥221M	¥49M	¥89M
Current Tax	¥32M	¥234M	¥71M	¥67M
Deferred Tax	¥22M	¥-12M	¥-21M	¥22M
Net Income (owners)	¥235M	¥679M	¥-1.1B	¥178M
Comprehensive Income	¥157M	¥1.0B	¥-939M	¥312M
EBITDA	¥760M	¥1.3B	¥-455M	¥809M
EPS	¥36.82	¥106.15	¥-167.96	¥27.98
Shares Outstanding	6.4M	6.4M	6.4M	6.4M
Shares Issued (total)	7.3M	7.3M	7.3M	7.3M
Treasury Shares	0.9M	0.9M	0.9M	0.9M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥28.8B	¥30.6B	¥29.0B	¥27.4B
Current Assets	¥23.5B	¥25.3B	¥24.0B	¥22.4B
Cash & Deposits	¥4.2B	¥6.8B	¥4.5B	¥5.7B
Trade Receivables	¥6.5B	¥5.6B	¥8.5B	¥6.6B
Non-Current Assets	¥5.3B	¥5.3B	¥5.0B	¥5.0B
PP&E	¥4.4B	¥4.2B	¥4.2B	¥4.2B
Intangible Assets	¥171M	¥102M	¥99M	¥118M
Investment Securities	¥403M	¥487M	¥364M	¥376M
Deferred Tax Assets	¥31M	¥42M	¥38M	¥24M
Total Liabilities	¥15.2B	¥16.9B	¥16.2B	¥13.7B
Current Liabilities	¥11.0B	¥12.4B	¥11.6B	¥8.6B
Accounts Payable	¥1.2B	¥1.9B	¥2.3B	¥1.6B
ST Debt	¥5.8B	¥4.0B	¥3.8B	¥3.0B
Taxes Payable	¥41M	¥255M	¥114M	¥73M
Non-Current Liabilities	¥4.2B	¥4.5B	¥4.6B	¥5.1B
Total LT Borrowings	¥3.4B	¥3.6B	¥3.7B	¥4.0B
Pension Obligations	¥343M	¥391M	¥419M	¥463M
Deferred Tax Liab.	¥48M	¥60M	¥32M	¥43M
Total Equity	¥13.7B	¥13.7B	¥12.7B	¥13.7B
Capital Stock	¥7.0B	¥7.0B	¥7.0B	¥7.0B
Capital Surplus	¥4.5B	¥4.5B	¥4.5B	¥4.5B
Retained Earnings	¥3.6B	¥3.5B	¥2.9B	¥4.1B
Treasury Stock	¥-897M	¥-903M	¥-909M	¥-915M
AOCI	¥-493M	¥-415M	¥-772M	¥-907M
Equity (owners)	¥14.2B	¥14.1B	¥13.5B	¥14.6B

Total Interest-Bearing Debt ⓘ	¥9.3B	¥7.6B	¥7.5B	¥7.1B
Net Cash ⓘ	¥-5.1B	¥-832M	¥-3.1B	¥-1.4B
NCAV ⓘ	¥8.4B	¥8.4B	¥7.7B	¥8.7B
NCAV/Share	¥1,304	¥1,306	¥1,207	¥1,358
BV/Share	¥2,208	¥2,202	¥2,107	¥2,287

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥-3.5B	¥3.0B	¥-1.2B	¥-1.6B
Interest Paid	¥-102M	¥-67M	¥-60M	¥-47M
Interest Received	¥19M	¥9M	¥7M	¥5M
D&A	¥506M	¥516M	¥542M	¥554M
Investing CF	¥-527M	¥-778M	¥-335M	¥-985M
CapEx	¥322M	¥277M	¥303M	¥952M
Purchase Investments	¥-1M	¥-1M	¥0M	¥0M
Financing CF	¥1.1B	¥-246M	¥272M	¥2.1B
Dividends Paid	¥-193M	¥-62M	¥-65M	¥-96M
Share Buybacks	¥0M	¥0M	¥0M	¥0M
LT Debt Repaid	¥-1.6B	¥-1.4B	¥-1.2B	¥-882M
Free Cash Flow	¥-3.8B	¥2.7B	¥-1.5B	¥-2.6B
Net Change in Cash	¥-2.9B	¥2.0B	¥-1.2B	¥-471M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	1.7%	5.1%	-8.1%	1.3%
ROA	0.8%	2.3%	-3.8%	0.6%
EPS	¥36.82	¥106.15	¥-167.96	¥27.98
DPS	¥12.00	¥30.00	¥10.00	¥10.00
BPS	¥2,130.75	¥2,137.26	¥1,986.53	¥2,144.67
FCF/Share	¥-600	¥418	¥-233	¥-402
NCAV/Share	¥1,304	¥1,306	¥1,207	¥1,358
Payout Ratio	32.6%	28.3%	—	35.7%

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-14 15:30	Div Increase	¥96M ¥15.0/sh +25%	Ikeura TSUSHINKI Kiki (6771) announced a dividend of ¥15.00 per share for fiscal year ending March 31, 2026, with a reco…
Summary Ikeura TSUSHINKI Kiki (6771) announced a dividend of ¥15.00 per share for fiscal year ending March 31, 2026, with a record date of March 31, 2026 and effective date of June 5, 2026. This represents a 25% increase from the prior year's dividend of ¥12.00 per share, reflecting the company's commitment to stable profit distribution while maintaining internal reserves for future business expansion. Deadline: 2026-06-05 YoY: +25% Source (JP) 1株当たり配当金 15円00銭、配当総額 96百万円。2026年3月期の配当につきましては、期初の予想のとおり、1株当たり15円とさせていただきます。剰余金の配当に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	Employee Stock Ownership Plan 池上通信機従業員持株会	239	3.73%
2	Business Partner Stock Ownership Plan 池上通信機取引先持株会	191	2.99%
3	豊嶋唯充	169	2.64%
4	合同会社センス	120	1.88%
5	松下彰利	101	1.58%
6	本間常夫	99	1.56%
7	菅佐原道夫	90	1.40%
8	豊嶋精密工業株式会社	86	1.35%
9	島根良明	85	1.33%
10	PERSHING SECURITIES LTD CLIENT SAFE CUSTODY ASSET ACCOUNT（常任代理人シティバンク、エヌ・エイ東京支店）	83	1.31%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

0.0%

-4.4% 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

19.8%

+2.3% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
Employee Stock Ownership Plan 池上通信機従業員持株会		3.04%	3.31%	3.73% +0.42%
Business Partner Stock Ownership Plan 池上通信機取引先持株会		2.48%	2.71%	2.99% +0.28%
豊嶋唯充		—	2.64%	2.64%
同会社センス NEW ENTRY	—	—	—	1.88% NEW
松下彰利		—	1.42%	1.58% +0.16%
本間常夫 NEW ENTRY	—	—	—	1.56% NEW
菅佐原道夫		—	1.41%	1.40% -0.01%
豊嶋精密工業		—	1.69%	1.35% -0.34%
島根良明		—	1.33%	1.33%
PERSHING SECURITIES LTD CLIENT SAFE CUSTODY ASSET ACCOUNT NEW ENTRY	—	—	—	1.31% NEW
Japan Master Trust Bank 日本マスタートラスト信託銀行 last seen 2024	Exited Top 10	8.03%	4.42%	—
SBI SECURITIES Co., Ltd. 式会社ＳＢＩ証券 last seen 2024	Exited Top 10	—	1.88%	—
DKK Co.,Ltd. 電気興業 last seen 2024	Exited Top 10	1.10%	1.10%	—
菅佐原道夫 last seen 2023	Exited Top 10	1.41%	—	—
日本カストディ銀行 last seen 2023	Exited Top 10	1.68%	—	—
豊嶋利夫 last seen 2023	Exited Top 10	5.29%	—	—
遠藤四郎 last seen 2023	Exited Top 10	2.34%	—	—
富士フイルムホールディングス last seen 2023	Exited Top 10	1.05%	—	—
島根良明 last seen 2023	Exited Top 10	1.33%	—	—
Concentration (HHI) ⓘ		122	58	46

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

Portfolio Book Value ¥360M +12% since 2023

Holdings 5

Trend 3 building vs 2023

Held Company	FY2025 ¥360M total		FY2023 ¥321M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
富士フイルムホールディングス㈱	233	+200.0% ↑ 82,200	183	27,400	M
Keisei Electric Railway Co. 京成電鉄㈱	59	+209.5% ↑ 44,109	58	14,253
DKK Co.,Ltd. 電気興業㈱	57	32,200	71	32,200	M
East Japan Railway Company 東日本旅客鉄道㈱	8	+200.0% ↑ 3,000	7	1,000
CHUBU-NIPPON BROADCASTING Co.,LTD. 中部日本放送㈱	3	5,500	2	5,500
Portfolio total	360		321

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