6912
KIKUSUI HOLDINGS CORPORATION
菊水ホールディングス株式会社
Electric Appliances
Kikusui Holdings Corporation engages in the manufacture and sale of electrical measuring instruments and power supply equipment in Japan and internationally. It is involved in the research and development, sales, and repair of electrical measuring instruments; and logistics operations, product assembly, wiring, and other manufacturing operations, as well as import and export businesses. Kikusui Holdings Corporation was incorporated in 1951 and is headquartered in Yokohama, Japan.
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Overview
Filings & Signals
Ownership
Financials
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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
¥14.7B
¥13.4B
¥12.5B
¥12.1B
¥10.1B
Cost of Sales
¥7.2B
¥6.5B
¥5.8B
¥6.2B
¥5.0B
Gross Profit
¥7.5B
¥7.0B
¥6.7B
¥5.9B
¥5.0B
SG&A
¥5.3B
¥5.0B
¥4.8B
¥4.4B
¥4.0B
Operating Income
¥2.1B
¥2.0B
¥1.9B
¥1.5B
¥1.0B
Non-Operating Income
¥174M
¥145M
¥129M
¥126M
¥83M
Dividend Income
—
¥123M
¥109M
¥100M
¥61M
Interest Income
—
¥4M
¥2M
¥3M
¥3M
Non-Operating Expenses
—
¥20M
¥63M
¥129M
¥29M
Interest Expense
—
¥5M
¥4M
¥3M
¥3M
Ordinary Income
¥2.3B
¥2.1B
¥1.9B
¥1.5B
¥1.1B
Pre-tax Income
¥2.3B
¥2.1B
¥1.9B
¥1.5B
¥1.1B
Income Taxes
¥661M
¥682M
¥619M
¥472M
¥379M
Current Tax
—
¥762M
¥466M
¥611M
¥452M
Deferred Tax
—
¥-80M
¥153M
¥-139M
¥-73M
Net Income (owners)
¥1.6B
¥1.4B
¥1.3B
¥1.1B
¥709M
Comprehensive Income
—
¥1.1B
¥1.6B
¥1.4B
¥1.1B
EBITDA
¥2.4B
¥2.3B
¥2.1B
¥1.8B
¥1.3B
EPS
¥193.38
¥173.41
¥155.38
¥128.36
¥85.13
Shares Outstanding
—
8.3M
8.3M
8.4M
8.3M
Shares Issued (total)
—
9.9M
9.9M
9.9M
9.9M
Treasury Shares
—
1.6M
1.6M
1.5M
1.6M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥19.1B
¥17.5B
¥16.1B
¥15.5B
¥13.5B
Current Assets
¥12.2B
¥11.6B
¥9.9B
¥9.5B
¥8.2B
Cash & Deposits
¥5.9B
¥4.7B
¥3.2B
¥2.7B
¥3.0B
Trade Receivables
—
¥2.4B
¥2.3B
¥1.8B
¥1.6B
Non-Current Assets
¥6.9B
¥5.9B
¥6.2B
¥6.0B
¥5.3B
PP&E
¥2.5B
¥2.3B
¥2.3B
¥2.3B
¥2.4B
Intangible Assets
—
¥55M
¥66M
¥80M
¥99M
Investment Securities
¥2.5B
¥2.1B
¥2.6B
¥2.3B
¥1.9B
Deferred Tax Assets
—
¥329M
¥236M
¥381M
¥7M
Total Liabilities
¥3.4B
¥3.4B
¥2.8B
¥3.4B
¥2.5B
Current Liabilities
¥2.4B
¥2.5B
¥1.9B
¥2.5B
¥2.0B
Accounts Payable
—
¥950M
¥584M
¥1.0B
¥910M
Taxes Payable
—
¥529M
¥211M
¥380M
¥354M
Non-Current Liabilities
¥1.0B
¥856M
¥957M
¥917M
¥574M
Pension Obligations
—
¥13M
¥30M
¥109M
¥138M
Deferred Tax Liab.
—
¥478M
¥571M
¥453M
¥90M
Total Equity
¥15.7B
¥14.1B
¥13.3B
¥12.1B
¥10.9B
Capital Stock
—
¥2.2B
¥2.2B
¥2.2B
¥2.2B
Capital Surplus
—
¥2.8B
¥2.8B
¥2.8B
¥2.8B
Retained Earnings
¥9.8B
¥8.6B
¥7.6B
¥6.6B
¥5.7B
Treasury Stock
—
¥-877M
¥-887M
¥-760M
¥-775M
AOCI
—
¥1.3B
¥1.6B
¥1.3B
¥959M
Equity (owners)
¥14.0B
¥12.8B
¥11.7B
¥10.8B
¥10.0B
Net Cash ⓘ
¥5.9B
¥4.7B
¥3.2B
¥2.7B
¥3.0B
NCAV ⓘ
¥8.8B
¥8.2B
¥7.1B
¥6.1B
¥5.7B
NCAV/Share
—
¥987
¥856
¥726
¥678
BV/Share
—
¥1,536
¥1,409
¥1,292
¥1,194
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥2.3B
¥2.1B
¥1.2B
¥38M
¥64M
Interest Paid
—
¥-4M
¥-3M
¥-3M
¥-3M
Interest Received
—
¥131M
¥114M
¥108M
¥67M
D&A
¥277M
¥282M
¥277M
¥260M
¥269M
Investing CF
¥-909M
¥-211M
¥-265M
¥-62M
¥-119M
CapEx
¥407M
¥233M
¥272M
¥144M
¥136M
Purchase Investments
—
¥-11M
¥-10M
¥-59M
¥-8M
Financing CF
¥-446M
¥-392M
¥-461M
¥-255M
¥-170M
Dividends Paid
—
¥-387M
¥-318M
¥-250M
¥-166M
Share Buybacks
—
—
¥-139M
—
¥-0M
Free Cash Flow
¥1.9B
¥1.9B
¥960M
¥-107M
¥-73M
Net Change in Cash
—
¥1.5B
¥539M
¥-263M
¥-179M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
10.8%
10.5%
10.3%
9.3%
6.8%
ROA
8.8%
8.6%
8.2%
7.4%
5.3%
EPS
¥193.38
¥173.41
¥155.38
¥128.36
¥85.13
DPS
¥0.00
¥53.00
¥47.00
¥38.00
¥30.00
BPS
¥1,884.58
¥1,692.37
¥1,602.42
¥1,442.74
¥1,309.19
FCF/Share
—
¥230
¥116
¥-13
¥-9
NCAV/Share
—
¥987
¥856
¥726
¥678
Payout Ratio
0.0%
30.6%
30.2%
29.6%
35.2%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 3
Date Activist Stake Event Flag Demands Source
2026-01-13
Tetsurou Fujita
11.03%
+1.44%
change
Passive
—
2024-11-15
Tetsurou Fujita
9.59%
correction
Passive
—
2024-11-14
Tetsurou Fujita
9.59%
change
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-15
17:00
Div Increase
¥69.0/sh
+30%
Kikusuiホールディングス KIKUSUI HD, code 6912) reported FY2026 March results exceeding guidance with sales of ¥14,687M (+8.8% vs…
Summary
Kikusuiホールディングス KIKUSUI HD, code 6912) reported FY2026 March results exceeding guidance with sales of ¥14,687M (+8.8% vs forecast) and net income of ¥1,609M (+11.0%). The company increased its ordinary dividend by ¥6 per share from ¥53 to ¥59, plus a ¥10 commemorative dividend, for total annual DPS of ¥69 (+30.2% YoY vs prior year's ¥53).
YoY: +30%
Source (JP)
2026年3月期の普通配当につきましては、上記の方針に基づき1株につき53円から6円増配の59円に修正いたします。その結果、記念配当10円と合わせて期末配当を69円といたします。
通期業績予想値と実績値との差異及び配当予想の修正(増配)に関するお知らせ
TDnet PDF
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 9
#
Shareholder
Shares (thou.)
% of Total
1
Business Partner Stock Ownership Plan
菊水取引先持株会
955
11.50%
2
株式会社ケーティーエム
909
10.94%
3
Employee Stock Ownership Plan
菊水従業員持株会
367
4.42%
4
Mizuho Bank
株式会社みずほ銀行
360
4.33%
5
小 林 寛 子
346
4.17%
6
Nippon Life Insurance
日本生命保険相互会社
301
3.62%
7
アジア電子工業株式会社
290
3.49%
8
ケル株式会社
220
2.66%
9
MUFG Bank
株式会社三菱UFJ銀行
214
2.58%
10
橋 本 幸 雄
188
2.26%
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
50.0%
+0.3% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Business Partner Stock Ownership Plan
菊水取引先持株会
10.60%
11.03%
11.50%
+0.47%
式会社ケーティーエム
10.90%
10.97%
10.94%
-0.03%
Employee Stock Ownership Plan
菊水従業員持株会
—
4.49%
4.42%
-0.07%
Mizuho Bank
みずほ銀行
4.30%
4.34%
4.33%
-0.01%
小 林 寛 子
4.10%
4.18%
4.17%
-0.01%
Nippon Life Insurance
日本生命保険
3.60%
3.63%
3.62%
-0.01%
アジア電子工業
3.50%
3.50%
3.49%
-0.01%
ケル
2.60%
2.65%
2.66%
+0.01%
MUFG Bank
三菱UFJ銀行
—
2.59%
2.58%
-0.01%
橋 本 幸 雄
2.20%
2.27%
2.26%
-0.01%
菊水電子工業従業員持株会
last seen 2023
Exited Top 10
4.50%
—
—
式会社三菱UFJ銀行
last seen 2023
Exited Top 10
2.60%
—
—
Concentration (HHI)
ⓘ
330
343
352
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥1,132M
+17% since 2023
Holdings
9
+3 new
3 exited
Trend
2 building
vs 2023
Held Company
FY2025
¥1,132M total
FY2023
¥965M total
Book Val ¥M
Shares
Book Val ¥M
Shares
NIHON DENKEI CO.,LTD.
日本電計㈱
514
+1.9%
↑
280,225
525
274,904
M
㈱三菱UFJ フィナンシャル・ グループ
174
NEW
New
86,500
—
Espec Co., Ltd.
エスペック㈱
125
+9.1%
↑
52,537
98
48,151
nishikawa keisoku co.,ltd.
西川計測㈱
125
15,000
83
15,000
M
IC Co., Ltd.
㈱IC
93
NEW
New
100,000
—
M
EBRAINS,INC.
エブレン㈱
69
30,000
77
30,000
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
19
4,680
9
4,680
NKK SWITCHES.CO.,LTD.
NKKスイッチズ㈱
12
NEW
New
2,700
—
M
TOYO SECURITIES CO., LTD.
東洋証券㈱
—
—
IC Co., Ltd.
㈱IC
—
−100%
Exit
—
85
100,000
M
㈱三菱UFJ フィナンシャル・ グループ
—
−100%
Exit
—
73
86,500
NKK SWITCHES.CO.,LTD.
NKKスイッチズ㈱
—
−100%
Exit
—
15
2,700
M
Portfolio total
1,132
965
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding