6947
ZUKEN INC.
株式会社図研
Electric Appliances
Zuken Inc., a software company, provides advanced design solutions for the creation and management of printed circuit board (PCB) designs, electrical and fluid systems, and 3D cabinet and wire harness layouts in Japan. It offers CR-8000, an advanced PCB design software; E3.series, a design and manufacturing process for electrical and fluid planning, cable planning, and wire harness and cabinet layout; GENESYS, an integrated model-based systems engineering software toolset that covers various domains of systems engineering, such as requirements, behavior, architecture, and verification and validation; DS-2, a data management platform for PCB and electrical/fluid engineering; eCADSTAR, an internet connected PCB design platform; and CADSTAR, a desktop PCB design software. The company also provides consulting services. The company was formerly known as Zukei Shori Gijutsu Kenkyusho Inc. and changed its name to Zuken Inc. in June 1985. Zuken Inc. was incorporated in 1976 and is headquartered in Yokohama, Japan.
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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
¥40.7B
¥38.5B
¥35.1B
¥31.5B
Cost of Sales
¥12.8B
¥12.3B
¥11.1B
¥9.7B
Gross Profit
¥27.9B
¥26.1B
¥23.9B
¥21.8B
SG&A
¥22.5B
¥21.3B
¥19.5B
¥17.9B
Operating Income
¥5.4B
¥4.8B
¥4.4B
¥3.9B
Non-Operating Income
¥809M
¥657M
¥459M
¥279M
Dividend Income
¥43M
¥38M
¥33M
¥79M
Interest Income
¥140M
¥67M
¥22M
¥10M
Non-Operating Expenses
¥265M
¥14M
¥151M
¥6M
Interest Expense
¥4M
¥5M
¥2M
¥3M
Ordinary Income
¥5.9B
¥5.4B
¥4.7B
¥4.2B
Pre-tax Income
¥7.4B
¥5.5B
¥4.6B
¥6.1B
Income Taxes
¥2.2B
¥1.5B
¥1.3B
¥3.1B
Current Tax
¥2.2B
¥1.5B
¥1.4B
¥3.1B
Deferred Tax
¥-50M
¥23M
¥-100M
¥5M
Net Income (owners)
¥5.2B
¥3.9B
¥3.2B
¥3.0B
Minority Interest
¥22M
¥102M
¥109M
¥41M
Comprehensive Income
¥4.8B
¥4.8B
¥3.7B
¥541M
EBITDA
¥6.3B
¥5.7B
¥5.2B
¥4.8B
Goodwill Amort. (J-GAAP)
¥55M
¥53M
¥48M
¥180M
EPS
¥236.99
¥171.37
¥137.48
¥129.16
Shares Outstanding
21.7M
22.2M
23.2M
23.2M
Shares Issued (total)
22.2M
22.2M
23.3M
23.3M
Treasury Shares
0.6M
—
0.0M
0.0M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥63.3B
¥63.9B
¥62.5B
¥59.1B
Current Assets
¥48.5B
¥48.9B
¥48.0B
¥45.3B
Cash & Deposits
¥28.2B
¥28.4B
¥28.5B
¥27.2B
Trade Receivables
¥7.0B
¥6.9B
¥6.5B
¥5.6B
Non-Current Assets
¥14.8B
¥15.0B
¥14.5B
¥13.8B
PP&E
¥6.1B
¥6.2B
¥6.3B
¥6.2B
Goodwill
¥55M
¥110M
¥148M
¥185M
Intangible Assets
¥821M
¥935M
¥1.0B
¥929M
Investment Securities
¥3.4B
¥3.9B
¥3.2B
¥3.1B
Deferred Tax Assets
¥1.0B
¥859M
¥1.0B
¥996M
Total Liabilities
¥23.3B
¥22.9B
¥21.1B
¥20.5B
Current Liabilities
¥19.4B
¥18.8B
¥16.9B
¥16.5B
Taxes Payable
¥1.5B
¥818M
¥826M
¥2.6B
Non-Current Liabilities
¥3.9B
¥4.1B
¥4.2B
¥4.0B
Pension Obligations
¥3.7B
¥3.8B
¥4.0B
¥3.8B
Total Equity
¥39.9B
¥41.0B
¥41.4B
¥38.6B
Capital Stock
¥10.1B
¥10.1B
¥10.1B
¥10.1B
Capital Surplus
¥7.6B
¥8.7B
¥8.7B
¥8.7B
Retained Earnings
¥22.2B
¥18.8B
¥20.1B
¥17.9B
Treasury Stock
¥-2.5B
¥-0M
¥-20M
¥-19M
AOCI
¥2.5B
¥2.9B
¥2.0B
¥1.6B
Equity (owners)
¥37.5B
¥37.6B
¥38.9B
¥36.6B
Minority Interests
—
¥562M
¥472M
¥378M
Net Cash ⓘ
¥28.2B
¥28.4B
¥28.5B
¥27.2B
NCAV ⓘ
¥25.2B
¥26.0B
¥26.9B
¥24.8B
NCAV/Share
¥1,162
¥1,170
¥1,155
¥1,065
BV/Share
¥1,730
¥1,689
¥1,671
¥1,575
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥4.9B
¥4.9B
¥2.9B
¥1.2B
Interest Paid
¥-4M
¥-5M
¥-2M
¥-3M
Interest Received
¥415M
¥291M
¥163M
¥129M
D&A
¥830M
¥850M
¥732M
¥706M
Goodwill Amort.
¥55M
¥53M
¥48M
¥180M
Investing CF
¥1.1B
¥-1.6B
¥-747M
¥4.7B
CapEx
¥283M
¥330M
¥458M
¥302M
Proceeds from Invest.
¥1.5B
—
—
¥5.8B
Financing CF
¥-6.0B
¥-5.2B
¥-1.0B
¥-766M
Dividends Paid
¥-1.8B
¥-1.1B
¥-953M
¥-721M
Share Buybacks
¥-2.5B
¥-4.0B
¥-0M
¥-2M
Free Cash Flow
¥4.6B
¥4.6B
¥2.4B
¥946M
Net Change in Cash
¥-72M
¥-1.1B
¥1.5B
¥5.5B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
13.0%
9.5%
8.1%
7.8%
ROA
8.2%
6.1%
5.3%
5.1%
EPS
¥236.99
¥171.37
¥137.48
¥129.16
DPS
¥100.00
¥55.00
¥45.00
¥37.00
BPS
¥1,843.79
¥1,818.20
¥1,758.56
¥1,644.76
FCF/Share
¥211
¥205
¥104
¥41
NCAV/Share
¥1,162
¥1,170
¥1,155
¥1,065
Payout Ratio
42.2%
32.1%
32.7%
28.6%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 4
Date Activist Stake Event Flag Demands Source
2025-10-07
Artisan Investments GP LLC
8.11%
+1.38%
change
Passive
—
2025-05-20
Artisan Investments GP LLC
6.73%
+1.05%
change
Passive
—
2025-03-05
Artisan Investments GP LLC
5.68%
initial_5pct
Passive
—
2023-12-18
Kaneko Makoto Holdings, Inc.
24.27%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 5
#
Shareholder
Shares (thou.)
% of Total
1
MASATO KANEKO HOLDINGS CO.
金子真人ホールディングス株式会社
2,840
13.10%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社
2,277
10.51%
3
金子 真人
2,226
10.27%
4
Japan Custody Bank
株式会社日本カストディ銀行
1,375
6.34%
5
Nippon Life Insurance
日本生命保険相互会社
723
3.33%
6
和田 扶佐夫
660
3.04%
7
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505103 (常任代理人 株式会社みずほ銀行 決済営業部)
646
2.98%
8
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行 決済営業部)
636
2.93%
9
BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC) (常任代理人 株式会社三菱UFJ銀行)
613
2.82%
10
金子 みね子
580
2.67%
Domestic Nominees
16.9%
+0.9% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
5.9%
-7.8% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
35.2%
+3.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
MASATO KANEKO HOLDINGS CO.
金子真人ホールディングス
13.93%
12.76%
13.10%
+0.34%
Japan Master Trust Bank
日本マスタートラスト信託銀行
11.27%
10.29%
10.51%
+0.22%
金子 真人
10.02%
10.00%
10.27%
+0.27%
Japan Custody Bank
日本カストディ銀行
5.61%
5.67%
6.34%
+0.67%
State Street
9.97%
11.04%
5.91%
-5.13%
Nippon Life Insurance
日本生命保険
3.11%
3.25%
3.33%
+0.08%
和田 扶佐夫
2.97%
2.96%
3.04%
+0.08%
BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC)
NEW ENTRY
—
—
—
2.82%
NEW
金子 みね子
2.49%
2.60%
2.67%
+0.07%
JP Morgan
last seen 2024
Exited Top 10
2.68%
2.64%
—
Concentration (HHI)
ⓘ
584
556
498
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥3,121M
+6% since 2023
Holdings
5
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥3,121M total
FY2023
¥2,941M total
Book Val ¥M
Shares
Book Val ¥M
Shares
Fortinet,Inc.
2,159
-40.0%
↓
150,000
2,219
250,000
EIZO Corporation
EIZO㈱
558
+100.0%
↑
267,600
548
133,800
M
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
327
162,600
138
162,600
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
51
+200.0%
↑
13,500
24
4,500
㈱コンコルディア・フィナンシャルグループ
26
27,000
13
27,000
Portfolio total
3,121
2,941
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding