7723
Aichi Clock Electric Co.
愛知時計電機株式会社
Precision Instruments
Aichi Tokei Denki Co., Ltd. engages in the provision of water and gas meters, and related equipment in Japan and internationally. The company offers liquid measurement products comprising electromagnetic water meters, residential water meters, portable and electronic water meters, capacitive electromagnetic flow sensors, compact electromagnetic flow sensors, flow sensors, microstream sensors, ovel gear flow sensors, instantaneous flow-rate/integrating flow volume flowmeters, small-size flow sensors, ultrasonic flow meters, and electromagnetic flow meters for agricultural applications. It also provides gas measurement products, such as ultrasonic flow meters for compressed air and nitrogen; ultrasonic flow meter for fuel gas; turbine gas meters for flow management; pressure-reducing valves; intelligent gas meters; digital manometers for town gas and LP gas; and systems. In addition, the company offers private-demand flow sensors and systems, including housing and building equipment and systems, instrumentations, precision machining and other parts. The company was formerly known as AICHI TOKEI MFG. CO., LTD. and changed its name to Aichi Tokei Denki Co., Ltd. in July 1912. Aichi Tokei Denki Co., Ltd. was founded in 1898 and is headquartered in Nagoya, Japan.
Price
¥2,880
Market Cap
¥44.3B
Ent. Value
¥35.8B
Net Cash
¥8.5B
Shares Out.
15.4M
P / E
9.2×
EV / EBIT
7.6×
P / Book
0.84×
P / NCAV
1.81×
Div. Yield
1.56%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥59.1B | ¥54.3B | ¥51.2B | ¥50.2B | ¥46.5B |
| Cost of Sales | ¥44.4B | ¥41.9B | ¥39.2B | ¥37.8B | ¥34.9B |
| Gross Profit | ¥14.7B | ¥12.4B | ¥12.0B | ¥12.3B | ¥11.6B |
| SG&A | ¥10.0B | ¥8.4B | ¥8.4B | ¥8.3B | ¥8.3B |
| Operating Income | ¥4.7B | ¥3.9B | ¥3.6B | ¥4.0B | ¥3.3B |
| Non-Operating Income | ¥581M | ¥880M | ¥710M | ¥716M | ¥627M |
| Dividend Income | — | ¥284M | ¥244M | ¥198M | ¥202M |
| Interest Income | — | ¥29M | ¥13M | ¥3M | ¥1M |
| Non-Operating Expenses | — | ¥56M | ¥63M | ¥42M | ¥100M |
| Interest Expense | — | ¥6M | ¥5M | ¥6M | ¥33M |
| Ordinary Income | ¥5.2B | ¥4.8B | ¥4.3B | ¥4.7B | ¥3.8B |
| Pre-tax Income | ¥6.5B | ¥4.8B | ¥4.3B | ¥4.8B | ¥3.8B |
| Income Taxes | ¥1.6B | ¥1.2B | ¥1.1B | ¥1.3B | ¥1.0B |
| Current Tax | — | ¥1.6B | ¥1.5B | ¥1.2B | ¥994M |
| Deferred Tax | — | ¥-405M | ¥-393M | ¥146M | ¥30M |
| Net Income (owners) | ¥4.8B | ¥3.5B | ¥3.2B | ¥3.5B | ¥2.8B |
| Comprehensive Income | — | ¥3.6B | ¥6.7B | ¥4.0B | ¥1.6B |
| EBITDA | ¥5.8B | ¥5.0B | ¥4.7B | ¥5.0B | ¥4.4B |
| EPS | ¥312.16 | ¥229.87 | ¥206.94 | ¥225.41 | ¥181.43 |
| Shares Outstanding | — | 15.4M | 15.4M | 15.3M | 15.3M |
| Shares Issued (total) | — | 15.4M | 15.4M | 15.4M | 15.4M |
| Treasury Shares | — | 0.0M | 0.1M | 0.1M | 0.1M |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥70.3B | ¥62.7B | ¥61.4B | ¥56.3B | ¥52.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥42.2B | ¥38.2B | ¥38.1B | ¥36.8B | ¥32.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥9.2B | ¥10.3B | ¥10.8B | ¥11.3B | ¥10.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | — | ¥10.0B | ¥10.2B | ¥10.5B | ¥9.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥28.1B | ¥24.5B | ¥23.3B | ¥19.5B | ¥19.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥10.4B | ¥9.1B | ¥8.3B | ¥7.9B | ¥8.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | — | ¥67M | ¥75M | ¥72M | ¥76M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥10.8B | ¥9.1B | ¥9.4B | ¥6.8B | ¥6.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | — | ¥570M | ¥155M | ¥1.2B | ¥1.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥17.7B | ¥15.9B | ¥17.2B | ¥17.9B | ¥17.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥13.6B | ¥11.3B | ¥12.3B | ¥12.1B | ¥10.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | — | ¥3.9B | ¥3.7B | ¥4.5B | ¥3.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥666M | ¥700M | ¥824M | ¥851M | ¥704M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | — | ¥975M | ¥1.0B | ¥972M | ¥806M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥4.1B | ¥4.7B | ¥5.0B | ¥5.8B | ¥6.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥34M | — | ¥34M | ¥34M | ¥27M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | — | ¥4.5B | ¥4.7B | ¥5.5B | ¥5.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥52.6B | ¥46.8B | ¥44.2B | ¥38.4B | ¥35.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | — | ¥3.2B | ¥3.2B | ¥3.2B | ¥3.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥322M | ¥311M | ¥311M | ¥311M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥40.3B | ¥36.8B | ¥34.3B | ¥32.1B | ¥29.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-59M | ¥-99M | ¥-198M | ¥-147M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥6.5B | ¥6.4B | ¥2.9B | ¥2.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥43.6B | ¥40.3B | ¥37.7B | ¥35.5B | ¥32.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥700M | ¥700M | ¥858M | ¥885M | ¥731M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥8.5B | ¥9.6B | ¥10.0B | ¥10.4B | ¥10.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥24.5B | ¥22.3B | ¥20.8B | ¥18.9B | ¥15.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥1,447 | ¥1,358 | ¥1,235 | ¥1,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥2,618 | ¥2,457 | ¥2,319 | ¥2,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥2.8B | ¥1.9B | ¥1.7B | ¥1.9B | ¥3.1B |
| Interest Paid | — | ¥-6M | ¥-5M | ¥-8M | ¥-37M |
| Interest Received | — | ¥314M | ¥257M | ¥202M | ¥203M |
| D&A | ¥1.1B | ¥1.0B | ¥1.1B | ¥1.0B | ¥1.1B |
| Investing CF | ¥-2.4B | ¥738M | ¥-1.1B | ¥-683M | ¥2.6B |
| CapEx | ¥2.0B | ¥1.6B | ¥1.2B | ¥791M | ¥588M |
| Purchase Investments | — | ¥-84M | ¥-8M | ¥-8M | ¥-57M |
| Proceeds from Invest. | — | ¥521M | ¥146M | ¥235M | ¥96M |
| Financing CF | ¥-1.6B | ¥-1.3B | ¥-1.2B | ¥-828M | ¥-5.9B |
| Dividends Paid | — | ¥-1.0B | ¥-994M | ¥-720M | ¥-667M |
| Share Buybacks | — | ¥0M | — | ¥-102M | — |
| LT Debt Repaid | — | — | ¥-27M | ¥-406M | ¥-5.0B |
| Free Cash Flow | ¥816M | ¥238M | ¥506M | ¥1.1B | ¥2.5B |
| Net Change in Cash | — | ¥1.4B | ¥-275M | ¥570M | ¥-33M |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 9.7% | 7.8% | 7.7% | 9.4% | 8.0% |
| ROA | 7.2% | 5.7% | 5.4% | 6.4% | 5.3% |
| EPS | ¥312.16 | ¥229.87 | ¥206.94 | ¥225.41 | ¥181.43 |
| DPS | ¥45.00 | ¥75.00 | ¥64.00 | ¥55.00 | ¥76.00 |
| BPS | ¥3,427.51 | ¥3,041.74 | ¥2,875.22 | ¥2,510.14 | ¥2,296.49 |
| FCF/Share | — | ¥15 | ¥33 | ¥71 | ¥165 |
| NCAV/Share | — | ¥1,447 | ¥1,358 | ¥1,235 | ¥1,037 |
| Payout Ratio | 14.4% | 32.6% | 30.9% | 24.4% | 41.9% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 4
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
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)
|
1,328 | 8.60% |
| 2 |
Nippon Life Insurance
日本生命保険相互会社
|
1,157 | 7.50% |
| 3 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
1,136 | 7.40% |
| 4 |
TOHO GAS CO.,LTD.
東邦瓦斯株式会社
|
691 | 4.50% |
| 5 | 愛知時計電機共栄会 | 620 | 4.00% |
| 6 |
Meiji Yasuda Life Insurance
明治安田生命保険相互会社
|
603 | 3.90% |
| 7 |
Mizuho Leasing Company, Limited
みずほリース株式会社
|
492 | 3.20% |
| 8 |
NIPPON SHARYO, LTD.
日本車輌製造株式会社
|
480 | 3.10% |
| 9 |
Employee Stock Ownership Plan
愛知時計電機社員持株会
|
477 | 3.10% |
| 10 | 御法川 法男 | 401 | 2.60% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
7.4%
+1.5% 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
40.5%
+0.5% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 47.9% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 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 | — | 7.90% | 8.60% +0.70% | |
| Nippon Life Insurance 日本生命保険 | 7.60% | 7.50% | 7.50% | |
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 5.50% | 5.90% | 7.40% +1.50% | |
| TOHO GAS CO.,LTD. 東邦瓦斯 | 4.50% | 4.50% | 4.50% | |
| 愛知時計電機共栄会 | 3.90% | 3.90% | 4.00% +0.10% | |
| Meiji Yasuda Life Insurance 明治安田生命保険 | 3.90% | 3.90% | 3.90% | |
| Mizuho Leasing Company, Limited みずほリース | 3.20% | 3.20% | 3.20% | |
| NIPPON SHARYO, LTD. 日本車輌製造 | — | 3.10% | 3.10% | |
| Employee Stock Ownership Plan 愛知時計電機社員持株会 | — | 3.00% | 3.10% +0.10% | |
| 御法川 法男 NEW ENTRY | 4.20% | — | 2.60% NEW | |
| MUFG Bank 式会社三菱UFJ銀行 last seen 2024 | Exited Top 10 | 4.00% | 3.00% | — |
| THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD‐SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENT A/C 8221‐563114 last seen 2023 | Exited Top 10 | 3.40% | — | — |
| みずほ銀行 last seen 2023 | Exited Top 10 | 3.70% | — | — |
| Concentration (HHI) ⓘ | 208 | 242 | 273 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥8,474M
+36% since 2023
Holdings
36
+2 new
6 exited
Trend
8 building
vs 2023
| Held Company | FY2025 ¥8,474M total | FY2023 ¥6,243M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
TOHO GAS CO.,LTD.
東邦瓦斯㈱
|
1,950 |
471,494
|
1,161 | 471,494 | M |
|
Mizuho Leasing Company, Limited
みずほリース㈱
|
813 |
+400.0%
↑
780,000
|
547 | 156,000 | M |
|
OKAYA&CO.,LTD.
岡谷鋼機㈱
|
739 |
+100.0%
↑
106,000
|
549 | 53,000 | M |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
662 |
163,500
|
307 | 163,500 | |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
435 |
216,780
|
183 | 216,780 | |
|
TOKYO GAS CO.,LTD.
東京瓦斯㈱
|
419 |
88,077
|
219 | 88,077 | |
|
Seibu Gas Holdings Co.
西部ガスホールディングス㈱
|
406 |
237,725
|
412 | 237,725 | M |
|
Sumitomo Realty & Development Co.,Ltd.
住友不動産㈱
|
358 |
64,100
|
191 | 64,100 | |
|
OKUMA Corporation
オークマ㈱
|
270 |
+100.0%
↑
79,270
|
234 | 39,635 | M |
|
SALA CORPORATION
㈱サーラコーポレーション
|
265 |
+4.5%
↑
306,804
|
220 | 293,482 | |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
246 |
+400.0%
↑
86,500
|
273 | 17,300 | |
|
ISHIZUKA GLASS CO.,LTD.
石塚硝子㈱
|
238 |
96,200
|
149 | 96,200 | M |
|
OSAKA GAS CO.,LTD.
大阪瓦斯㈱
|
180 |
53,449
|
116 | 53,449 | |
|
Hiroshima Gas Co.
広島ガス㈱
|
168 |
492,400
|
174 | 492,400 | M |
|
DAITO TRUST CONSTRUCTION CO.,LTD.
大東建託㈱
|
153 |
10,000
|
131 | 10,000 | |
|
MAEZAWA KYUSO INDUSTRIES CO.,LTD.
前澤給装工業㈱
|
143 |
112,000
|
107 | 112,000 | M |
|
The Bank of Nagoya, Ltd.
㈱名古屋銀行
|
131 |
16,699
|
52 | 16,699 | M |
|
NIPPON SHARYO, LTD.
日本車輌製造㈱
|
125 |
61,600
|
124 | 61,600 | M |
|
The Ogaki Kyoritsu Bank, Ltd.
㈱大垣共立銀行
|
116 |
48,962
|
87 | 48,962 | M |
|
Hokkaido Gas Co., Ltd.
北海道瓦斯㈱
|
116 |
+407.7%
↑
229,389
|
87 | 45,186 | |
| 静岡瓦斯㈱ | 113 |
100,000
|
114 | 100,000 | M |
|
K&O Energy Group Inc.
K&Oエナジーグループ㈱
|
92 |
30,904
|
65 | 30,904 | M |
|
HASHIMOTO SOGYO HOLDINGS CO.,LTD.
橋本総業ホールディングス㈱
|
79 |
66,308
|
74 | 66,308 | M |
|
OTAKE CORPORATION
㈱オータケ
|
56 |
31,000
|
50 | 31,000 | |
| 三井住友トラスト・グループ㈱ | 46 |
NEW
New
12,492
|
— | ||
|
AIR WATER INC.
エア・ウォーター㈱
|
38 |
+8.6%
↑
20,458
|
31 | 18,839 | |
|
Chugai Ro Co.,Ltd.
中外炉工業㈱
|
35 |
9,511
|
17 | 9,511 | M |
|
繝ッ繧キ繝ウ繝医Φ繝帙ユ繝ォ譬ェ蠑丈シ夂、セ
ワシントンホテル㈱
|
19 |
15,840
|
14 | 15,840 | |
|
YAMATO CORPORATION
㈱ヤマト
|
14 |
10,000
|
8 | 10,000 | |
|
Misonoza Co.
㈱御園座
|
13 |
8,000
|
14 | 8,000 | |
|
ITOCHU ENEX CO.,LTD.
伊藤忠エネクス㈱
|
11 |
7,000
|
7 | 7,000 | |
|
Chuo Seisakusho,Ltd.
㈱中央製作所
|
11 |
9,200
|
10 | 9,200 | M |
|
MISUMI CO., LTD.
㈱Misumi
|
5 |
NEW
New
3,388
|
— | ||
|
KAWASAKI SETSUBI KOGYO CO., LTD.
川崎設備工業㈱
|
5 |
6,000
|
3 | 6,000 | |
|
SUGIMOTO & CO.,LTD.
杉本商事㈱
|
2 |
+100.0%
↑
2,300
|
2 | 1,150 | |
|
DCM Holdings Co.,Ltd.
DCMホールディングス㈱
|
2 |
1,560
|
1 | 1,560 | |
|
Tokai Tokyo Financial Holdings, Inc.
東海東京フィナンシャル・ホールディングス㈱
|
— |
−100%
Exit
—
|
118 | 324,212 | M |
|
Aica Kogyo Company, Limited
アイカ工業㈱
|
— |
−100%
Exit
—
|
200 | 66,000 | |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
— |
−100%
Exit
—
|
83 | 15,781 | |
|
KEIYO GAS CO., LTD.
京葉瓦斯㈱
|
— |
−100%
Exit
—
|
71 | 30,000 | |
| 三井住友トラスト・ホールディングス㈱ | — |
−100%
Exit
—
|
28 | 6,246 | |
|
CREATE CORPORATION
クリエイト㈱
|
— |
−100%
Exit
—
|
10 | 13,622 | |
| Portfolio total | 8,474 | 6,243 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding