TAKACHIHO KOHEKI CO., LTD.
2676・Prime Market・Wholesale Trade
Business
Takachiho Koeki is an independent technology trading company founded in 1952, operating as an 11-company group comprising the company itself and 9 consolidated subsidiaries. In its core Business Security segment, the company provides an integrated offering—from consulting through design, installation, and maintenance—of merchandise surveillance systems, access control, surveillance cameras, advanced fire prevention systems, and cloud services (including MSP services), serving a broad customer base spanning retail, distribution, offices, data centers, and plants. In the Electromechanics segment, the company sells semiconductors and electronic components centered on analog ICs, as well as mechanical components such as slide rails and gas springs, to the industrial equipment, housing equipment, and North American markets. The company has subsidiaries in Southeast Asia, China, and the United States, and operates globally.
Business Model
The company procures advanced products through agency and partnership agreements with leading overseas manufacturers, sells them to domestic and international customers, and creates added value by providing an integrated offering that spans design, installation, maintenance, and outsourced cloud operations (MSP services). Subscription contracts for maintenance and cloud services form a recurring revenue base, while 300 service locations nationwide support customer touchpoints. The order backlog of ¥11,526 million (up 9.7% year on year) enhances visibility into next-period sales.
Company Strengths
Established a one-stop system covering consulting, system design, installation work, maintenance, and cloud operation outsourcing all within a single company. This system, supported by 300 service locations nationwide and 24-hour, 365-day service, enables continuous problem-solving support for customers and serves as a key differentiator from competitors.
In FY2026, the Business Security segment achieved strong growth, with net sales of ¥15,152 million (up 10.5% year on year) and operating income of ¥1,402 million (up 21.6% year on year). The order backlog reached ¥6,822 million (up 14.5% year on year), which is expected to contribute significantly to sales in the following period. Business solution products for data centers and offices led the growth, increasing 15.0% year on year.
Over its 74-year history since founding, the company has built relationships of trust with leading overseas manufacturers as an independent trading company unaffiliated with any capital group. It holds multiple agency and distribution agreements with leading manufacturers in the US, Europe, and Asia, achieving a broad product lineup spanning security, semiconductors, and mechanical components. Collaboration with startups also continues through the Silicon Valley Innovation Center (opened in 2021).
ENVALITH's Perspective
Performance Trend
Revenue rose for five consecutive fiscal years, from ¥20,785 million in FY2022 (ending March 2022) to ¥29,510 million in FY2026 (ending March 2026) (CAGR of approximately 9.2%). Growth moderated somewhat in FY2026 (ending March 2026), up 5.0% year on year. Operating profit of ¥2,098 million (up 0.9% year on year) and ordinary profit of ¥2,408 million (up 20.1% year on year) both marked record highs since listing. The substantial increase in ordinary profit was driven by an increase in non-operating income (from ¥124 million in the previous period to ¥325 million in the current period), including foreign exchange gains of ¥116 million and gains of ¥67 million from investment partnerships. On the other hand, due to a valuation loss on investment securities of ¥337 million, profit attributable to owners of parent came to ¥1,415 million (down 2.9% year on year), marking the first decline in profit in five fiscal years. The gross profit margin improved to 25.0% (from 24.6% in the previous period), but SG&A expenses increased from ¥4,830 million to ¥5,285 million, causing the operating profit margin to decline to 7.1% (from 7.4% in the previous period). As an external factor, yen depreciation affected both an increase in procurement costs (electromechanics) and an increase in yen-translated revenue (global merchandise, etc.).
Growth Strategy
Aiming for revenue of ¥35,000 million in FY2027 (ending March 2027) through concentrated investment focused on the two pillars of Business Security and Electromechanics
Focus on access control and surveillance camera systems, MSP services, and cyber/OT security for data centers and offices. Also promoting expanded sales of RFID systems for apparel and the launch of a crime-prevention cloud service. In FY2026 (ending March 2026), Business Security revenue reached ¥15,152 million (up 10.5% year on year), with order backlog of ¥6,822 million (up 14.5% year on year), showing steady expansion.
Strengthening sales to the industrial equipment sector leveraging strengths in power supplies, communications, and sensors, while expanding the solutions business. Continuing to expand sales channels in Southeast Asia and India, and ongoing sales of mechanical components for North American housing equipment such as kitchens. In FY2026 (ending March 2026), orders received expanded to ¥14,518 million (up 10.9% year on year), but challenges remain, with operating profit down 24.9% year on year due to increased procurement costs from yen depreciation and higher SG&A expenses.
Priority investments over three years in the Business Security field, the Electromechanics field, human resources, DX, and other areas. Aiming to improve capital profitability through the promotion of ROIC-focused management. In FY2026 (ending March 2026), growth investment is reflected in increased SG&A expenses (up ¥455 million year on year), with the materialization of investment effects expected from the next fiscal year onward.
In FY2026 (ending March 2026), a dividend payout ratio of 100% was implemented (annual dividend of ¥76.0, total dividends of ¥1,422 million). From FY2027 (ending March 2027) onward, a progressive dividend policy will be adopted, under which the current dividend amount will be increased or maintained. The forecast dividend for FY2027 (ending March 2027) is maintained at an annual ¥76.0 (forecast payout ratio of 86.0%).
Last updated: July 19, 2026