6919
KEL CORPORATION
ケル株式会社
Electric Appliances
KEL Corporation engages in the manufacture and sale of industrial connectors in Japan. It offers board to board, board to cable, and on-board power connectors for use in camera/video related, FA equipment, automobile, medical/healthcare, infrastructure/railway, and amusement related applications, as well as provide rack products. The company is also engaged in research and development, production, quality control, and sales activities. Its products have applications in automotive, imaging, medical, and gaming equipment. KEL Corporation was incorporated in 1962 and is based in Tama, Japan.
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⚠ TSE Capital Mandate
P / Book
0.67×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥11.9B
¥12.2B
¥14.5B
¥12.8B
Cost of Sales
¥8.9B
¥9.0B
¥9.9B
¥8.6B
Gross Profit
¥2.9B
¥3.3B
¥4.6B
¥4.2B
SG&A
¥2.3B
¥2.2B
¥2.2B
¥2.0B
Operating Income
¥597M
¥1.1B
¥2.4B
¥2.1B
Non-Operating Income
¥65M
¥176M
¥153M
¥54M
Dividend Income
¥46M
¥44M
¥25M
¥24M
Interest Income
¥8M
¥8M
¥3M
¥2M
Non-Operating Expenses
¥76M
¥3M
¥17M
¥26M
Interest Expense
¥4M
¥2M
¥2M
¥2M
Ordinary Income
¥586M
¥1.3B
¥2.5B
¥2.1B
Pre-tax Income
¥583M
¥1.3B
¥2.5B
¥2.1B
Income Taxes
¥181M
¥415M
¥804M
¥679M
Current Tax
¥207M
¥414M
¥801M
¥714M
Deferred Tax
¥-25M
¥1M
¥2M
¥-35M
Net Income (owners)
¥402M
¥852M
¥1.7B
¥1.5B
Comprehensive Income
¥463M
¥1.1B
¥1.9B
¥1.7B
EBITDA
¥1.6B
¥2.1B
¥3.3B
¥3.0B
EPS
¥55.23
¥117.30
¥237.51
¥200.29
Shares Outstanding
7.3M
7.3M
7.3M
7.3M
Shares Issued (total)
7.7M
7.7M
7.7M
7.7M
Treasury Shares
0.5M
0.5M
0.5M
0.5M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥18.6B
¥18.9B
¥19.7B
¥18.4B
Current Assets
¥11.5B
¥12.0B
¥13.3B
¥12.3B
Cash & Deposits
¥4.9B
¥5.3B
¥5.1B
¥5.2B
Trade Receivables
¥2.9B
¥2.8B
¥3.4B
¥2.8B
Non-Current Assets
¥7.1B
¥6.9B
¥6.4B
¥6.1B
PP&E
¥4.5B
¥4.4B
¥4.2B
¥4.1B
Intangible Assets
¥189M
¥193M
¥149M
¥107M
Investment Securities
¥1.2B
¥1.3B
¥1.0B
¥848M
Deferred Tax Assets
—
—
¥10M
¥78M
Total Liabilities
¥3.4B
¥3.5B
¥4.6B
¥4.5B
Current Liabilities
¥2.9B
¥3.0B
¥4.1B
¥4.0B
Accounts Payable
¥752M
¥609M
¥810M
¥787M
ST Debt
¥450M
¥450M
¥450M
¥450M
Taxes Payable
¥28M
¥31M
¥449M
¥558M
Non-Current Liabilities
¥505M
¥556M
¥490M
¥493M
Pension Obligations
¥433M
¥495M
¥487M
¥490M
Deferred Tax Liab.
¥53M
¥59M
—
—
Total Equity
¥15.2B
¥15.4B
¥15.0B
¥13.9B
Capital Stock
¥1.6B
¥1.6B
¥1.6B
¥1.6B
Capital Surplus
¥1.4B
¥1.4B
¥1.4B
¥1.4B
Retained Earnings
¥11.5B
¥11.8B
¥11.6B
¥10.7B
Treasury Stock
¥-244M
¥-247M
¥-247M
¥-247M
AOCI
¥883M
¥821M
¥583M
¥388M
Equity (owners)
¥14.3B
¥14.6B
¥14.5B
¥13.5B
Total Interest-Bearing Debt ⓘ
¥450M
¥450M
¥450M
¥450M
Net Cash ⓘ
¥4.4B
¥4.9B
¥4.7B
¥4.8B
NCAV ⓘ
¥8.2B
¥8.5B
¥8.7B
¥7.7B
NCAV/Share
¥1,122
¥1,168
¥1,192
¥1,065
BV/Share
¥1,972
¥2,005
¥1,990
¥1,853
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.2B
¥2.3B
¥1.7B
¥1.6B
Interest Paid
¥-4M
¥-2M
¥-2M
¥-2M
Interest Received
¥54M
¥51M
¥28M
¥27M
D&A
¥955M
¥1.0B
¥943M
¥862M
Investing CF
¥-1.1B
¥-1.5B
¥-1.1B
¥-603M
CapEx
¥922M
¥1.3B
¥937M
¥720M
Purchase Investments
—
—
¥-100M
—
Proceeds from Invest.
—
—
¥100M
—
Financing CF
¥-641M
¥-740M
¥-733M
¥-313M
Dividends Paid
¥-639M
¥-740M
¥-733M
¥-313M
Free Cash Flow
¥235M
¥1.0B
¥733M
¥863M
Net Change in Cash
¥-538M
¥213M
¥-86M
¥790M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
2.6%
5.6%
11.9%
11.0%
ROA
2.1%
4.4%
9.1%
7.9%
EPS
¥55.23
¥117.30
¥237.51
¥200.29
DPS
¥80.00
¥95.00
¥95.00
¥81.00
BPS
¥2,093.88
¥2,118.02
¥2,069.89
¥1,906.57
FCF/Share
¥32
¥140
¥101
¥119
NCAV/Share
¥1,122
¥1,168
¥1,192
¥1,065
Payout Ratio
144.8%
81.0%
40.0%
40.4%
No filings or capital allocation signals recorded for this company.
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 4
#
Shareholder
Shares (thou.)
% of Total
1
KIKUSUI HOLDINGS CORPORATION
菊水ホールディングス株式会社
512
7.05%
2
Nippon Life Insurance
日本生命保険相互会社 (常任代理人 日本マスター トラスト信託銀行株式会社)
291
4.01%
3
MUFG Bank
株式会社三菱UFJ銀行
291
4.01%
4
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793 (常任代理人 香港上海銀行東京支店)
278
3.83%
5
橋本幸雄
230
3.16%
6
アジア電子工業株式会社
181
2.50%
7
Employee Stock Ownership Plan
ケル社員持株会
154
2.12%
8
ASGJapan株式会社
137
1.88%
9
萩原慶子
122
1.68%
10
山崎万希子
119
1.64%
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
31.9%
-1.2% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
KIKUSUI HOLDINGS CORPORATION
菊水ホールディングス
7.05%
7.05%
7.05%
MUFG Bank
式会社三菱UFJ銀行
4.01%
4.01%
4.01%
Nippon Life Insurance
日本生命保険
4.01%
4.01%
4.01%
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793
—
3.81%
3.83%
+0.02%
橋本幸雄
3.17%
3.17%
3.16%
-0.01%
アジア電子工業
2.50%
2.50%
2.50%
Employee Stock Ownership Plan
ケル社員持株会
2.33%
2.26%
2.12%
-0.14%
ASGJapan
NEW ENTRY
—
—
—
1.88%
NEW
萩原慶子
1.68%
1.68%
1.68%
山崎万希子
1.64%
1.64%
1.64%
芹澤圭二
last seen 2024
Exited Top 10
2.99%
2.99%
—
BANK JULIUS BAER SINGAPORE INDIVIDUAL PORTFOLIO NO.SG06922000-02
last seen 2023
Exited Top 10
2.00%
—
—
Concentration (HHI)
ⓘ
122
132
126
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥708M
+31% since 2023
Holdings
4
+1 new
1 exited
Trend
Stable
vs 2023
Held Company
FY2025
¥708M total
FY2023
¥542M total
Book Val ¥M
Shares
Book Val ¥M
Shares
sun-wa technos corporation
サンワテクノス㈱
415
195,200
379
195,200
M
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
227
113,000
96
113,000
M
Ryoyo Ryosan Holdings, Inc.
リョーサン菱洋ホールディングス㈱
51
NEW
New
20,856
—
M
KYOEI SANGYO CO.,LTD.
協栄産業㈱
16
6,700
15
6,700
M
Ryosan Co., Ltd.
㈱リョーサン
—
−100%
Exit
—
52
15,800
M
Portfolio total
708
542
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding