7744
Noritz Kouki Co., Ltd.
ノーリツ鋼機株式会社
Technology · Consumer Electronics
Noritsu Koki Co., Ltd., together with its subsidiaries, manufactures and sells audio equipment and peripheral products in Japan, China, the United States, Europe, Central and South America, the Middle East, Africa, and internationally. It offers DJ and club equipment, such as flat-top DJ CD players under the Pioneer DJ and AlphaTheta brands; and headphones and earbuds for sports, work, children, and gaming applications under the JLab brand. The company also provides pen nibs, cosmetics, and air freshener sticks; and metal parts for transportation and medical equipment. In addition, it offers personal technology products, such as web cameras and keyboards for remote working, as well as construction products and equipment, and related construction services. The company was founded in 1951 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥119.2B
¥106.5B
¥91.6B
¥73.5B
¥75.3B
Cost of Sales
¥59.5B
¥53.9B
¥50.5B
¥44.0B
¥38.4B
Gross Profit
¥59.7B
¥52.7B
¥41.1B
¥29.5B
¥36.9B
SG&A
—
¥32.9B
¥27.6B
¥22.4B
¥25.3B
Operating Income
¥20.8B
¥20.5B
¥14.5B
¥1.3B
¥10.7B
Non-Operating Income
—
¥1.0B
¥827M
¥6.8B
¥1.1B
Non-Operating Expenses
—
¥527M
¥560M
¥1.8B
¥1.7B
Interest Expense
—
¥384M
¥420M
¥1.4B
¥1.5B
Pre-tax Income
¥21.9B
¥20.4B
¥13.7B
¥3.9B
¥9.8B
Net Income (owners)
¥15.6B
¥16.1B
¥10.2B
¥101.5B
¥5.3B
Minority Interest
¥2M
¥9M
¥10M
¥157M
¥1.5B
Comprehensive Income
¥15.6B
¥22.3B
¥21.4B
¥88.6B
¥8.1B
EBITDA
¥26.7B
¥26.0B
¥19.7B
¥6.5B
¥16.8B
EPS
¥146.95
¥451.61
¥285.88
¥2,848.36
¥148.73
Shares Outstanding
107.4M
35.7M
35.7M
35.7M
35.6M
Shares Issued (total)
108.8M
36.2M
36.2M
36.2M
36.2M
Treasury Shares
1.4M
0.5M
0.5M
0.5M
0.6M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥301.8B
¥299.4B
¥279.5B
¥307.3B
¥264.3B
Current Assets
¥141.9B
¥135.1B
¥115.0B
¥128.5B
¥78.1B
Cash & Deposits
¥97.4B
¥92.9B
¥70.2B
¥96.4B
¥38.1B
Non-Current Assets
¥159.9B
¥164.2B
¥164.5B
¥178.7B
¥186.2B
PP&E
¥8.3B
¥7.5B
¥7.8B
¥7.3B
¥9.4B
Goodwill
¥50.3B
¥50.5B
¥49.3B
¥48.6B
¥66.7B
Intangible Assets
¥73.7B
¥76.6B
¥77.1B
¥78.3B
¥88.5B
Deferred Tax Assets
¥2.7B
¥1.6B
¥2.0B
¥1.6B
¥3.4B
Total Liabilities
¥73.2B
¥76.4B
¥73.6B
¥114.4B
¥137.4B
Current Liabilities
¥39.2B
¥37.8B
¥30.8B
¥67.1B
¥46.1B
ST Debt
¥14.5B
¥14.4B
¥15.2B
¥19.0B
¥21.9B
Non-Current Liabilities
¥34.0B
¥38.6B
¥42.9B
¥47.3B
¥91.3B
Total LT Borrowings
¥15.0B
¥19.4B
¥23.8B
¥29.1B
¥73.7B
Deferred Tax Liab.
¥15.3B
¥16.1B
¥15.8B
¥15.3B
¥8.7B
Total Equity
¥228.6B
¥223.0B
¥205.8B
¥192.9B
¥126.9B
Capital Surplus
¥36.9B
¥38.2B
¥38.3B
¥41.4B
¥41.4B
Retained Earnings
¥177.5B
¥172.8B
¥162.1B
¥157.8B
¥63.7B
Treasury Stock
¥-1.5B
¥-1.0B
¥-1.1B
¥-1.1B
¥-1.2B
AOCI
¥7.8B
¥5.3B
¥-1.1B
¥-12.6B
¥239M
Equity (owners)
¥228.5B
¥222.2B
¥205.4B
¥192.5B
¥111.2B
Minority Interests
¥116M
¥713M
¥469M
¥350M
¥15.7B
Total Interest-Bearing Debt ⓘ
¥29.4B
¥33.8B
¥39.0B
¥48.1B
¥95.6B
Net Cash ⓘ
¥68.0B
¥59.0B
¥31.2B
¥48.4B
¥-57.5B
NCAV ⓘ
¥68.7B
¥58.7B
¥41.3B
¥14.2B
¥-59.3B
NCAV/Share
¥640
¥1,645
¥1,159
¥397
¥-1,664
BV/Share
¥2,127
¥6,225
¥5,755
¥5,399
¥3,121
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥19.9B
¥32.6B
¥-31.6B
¥11.7B
¥3.9B
D&A
¥5.9B
¥5.5B
¥5.2B
¥5.3B
¥6.1B
Investing CF
¥-43M
¥38M
¥23.2B
¥93.4B
¥-40.5B
CapEx
¥1.9B
¥954M
¥1.3B
¥1.2B
¥966M
Financing CF
¥-15.9B
¥-11.8B
¥-18.9B
¥-47.6B
¥4.3B
Free Cash Flow
¥18.1B
¥31.6B
¥-32.9B
¥10.5B
¥2.9B
Net Change in Cash
¥4.5B
¥22.7B
¥-26.2B
¥58.3B
¥-31.5B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
6.9%
7.5%
5.1%
63.5%
4.2%
ROA
5.2%
5.6%
3.5%
35.5%
2.0%
EPS
¥146.95
¥451.61
¥285.88
¥2,848.36
¥148.73
DPS
¥147.00
¥181.00
¥115.00
¥152.00
¥198.00
FCF/Share
¥169
¥886
¥-922
¥295
¥83
NCAV/Share
¥640
¥1,645
¥1,159
¥397
¥-1,664
Payout Ratio
100.0%
40.1%
40.2%
5.3%
133.1%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 3
Date Activist Stake Event Flag Demands Source
2025-12-02
Nishimoto Kosan K.K.
47.46%
change
Passive
—
2025-04-04
Nishimoto Kosan Co., Ltd.
47.74%
initial_5pct
Passive
—
2024-03-19
THANK Planning Inc.
48.14%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 3
#
Shareholder
Shares (thou.)
% of Total
1
西本興産株式会社
44,982
41.88%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
10,383
9.66%
3
西本 佳代
6,005
5.59%
4
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
5,513
5.13%
5
岩切 隆吉
1,877
1.74%
6
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)
1,598
1.48%
7
JPモルガン証券株式会社
1,362
1.26%
8
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505025 (常任代理人 株式会社みずほ銀行決済営業部)
1,135
1.05%
9
GOVERNMENT OF NORWAY (常任代理人 シティバンク、エヌ・エイ東京支店)
1,100
1.02%
10
HSBC BANK PLC A/C M AND G (ACS) VALUE PARTNERS CHINA EQUITY FUND (常任代理人 香港上海銀行東京支店)
997
0.92%
Domestic Nominees
14.8%
+2.0% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
2.5%
+0.4% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
52.4%
-2.4% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
西本興産
NEW ENTRY
—
—
—
41.88%
NEW
日本マスタートラスト信託銀行
9.44%
9.16%
9.66%
+0.50%
西本 佳代
6.73%
5.60%
5.59%
-0.01%
日本カストディ銀行
3.81%
3.58%
5.13%
+1.55%
State Street
NEW ENTRY
—
—
—
2.53%
NEW
岩切 隆吉
NEW ENTRY
—
—
—
1.74%
NEW
JPモルガン証券
NEW ENTRY
—
—
—
1.26%
NEW
GOVERNMENT OF NORWAY
1.08%
1.42%
1.02%
-0.40%
HSBC BANK PLC A/C M AND G (ACS) VALUE PARTNERS CHINA EQUITY FUND
—
1.32%
0.92%
-0.40%
式会社サンクプランニング
last seen 2024
Exited Top 10
42.09%
43.19%
—
BNY Mellon
last seen 2024
Exited Top 10
2.27%
2.10%
—
UBS
last seen 2024
Exited Top 10
1.80%
1.72%
—
三井住友銀行
last seen 2024
Exited Top 10
1.51%
1.51%
—
Goldman Sachs
last seen 2023
Exited Top 10
1.79%
—
—
Concentration (HHI)
ⓘ
1936
2007
1918
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥13,888M
-25% since 2023
Holdings
3
+1 new
Trend
1 unwinding
vs 2023
Held Company
FY2025
¥13,888M total
FY2023
¥18,401M total
Book Val ¥M
Shares
Book Val ¥M
Shares
譬ェ蠑丈シ夂、セ�シェ�シュ�シ、�シ」
株式会社JMDC
11,860
-30.5%
↓
2,976,254
18,259
4,283,354
キッズウェル・ バイオ株式会社
1,922
NEW
New
9,471,832
—
NANO MRNA 株式会社
106
750,000
142
750,000
Portfolio total
13,888
18,401
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding