NIX, INC.
4243・Standard Market・Chemicals
Business
Nix, Inc. was founded in 1949 and is headquartered in Yokohama City, Kanagawa Prefecture, as a specialty manufacturer of industrial plastic components. Its main products fall into three categories: Plastic Fasteners and Plastic Precision Components, Production Equipment Jigs (racks for electronic component mounting machines), and molds. Domestically, the company sells directly and through distributors to the office equipment, automotive, housing equipment, environmental sanitation, and production equipment industries. Overseas, it has built a global sales network through four consolidated subsidiaries—NIX OF AMERICA in the US, and companies in Hong Kong, China, and Thailand—along with one equity-method affiliate (Zhuhai Ligao Precision Technology Co., Ltd.). The company is listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
Centered on its proprietary in-house developed material "NIXAM®" (an engineering plastic imparted with heat resistance, wear resistance, electrical conductivity, and other properties), the company conducts everything from R&D to product design in an integrated manner at its R&D Center. It combines domestic production at the Tsukui Plant with location-optimized production at overseas subsidiaries and joint ventures, selling to customers across multiple industries both domestically and internationally through direct sales and distributors. Of the fiscal year's net sales of ¥4,403 million, Plastic Fasteners and Plastic Precision Components accounted for ¥3,206 million (72.8%).
Company Strengths
The company owns NIXAM®, its proprietary original material imparting heat resistance, wear resistance, conductivity, and other properties, which has been adopted by major manufacturers for plastic joint components in floor-heating water heaters and for sliding components used in high-temperature environments in office equipment. By enabling weight reduction and cost reduction through metal substitution, the company differentiates its offering as a high-value-added product.
The company operates four consolidated subsidiaries in the US, Hong Kong, China, and Thailand, along with one equity-method affiliate in Zhuhai, China. The Thailand base secured new orders during the current period, and the ongoing yen depreciation also had the effect of boosting the yen-denominated value of overseas sales. This diverse domestic and overseas sales network contributes to earnings stability.
The order backlog for Production Equipment Jigs (Racks) in the current period increased substantially to ¥127,984 thousand (182.5% year on year), serving as a leading indicator pointing to expectations of a recovery in demand from the semiconductor mounting industry. Sales of this item in the current period fell to ¥1,078,969 thousand, down to 88.2% year on year, but the buildup in the order backlog suggests a future recovery in sales.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years has remained flat within a range of ¥4,069 million to ¥4,517 million. In the interim period (cumulative) of FY2026 (ending September 2026), revenue stood at ¥2,268 million (up 2.1% year on year), continuing to show only modest growth. Operating profit, on the other hand, improved significantly to ¥180 million (up 41.1% year on year). In addition to a reduction in cost of sales (gross profit margin of 45.3%, versus 43.9% in the same period of the previous year), external factors such as foreign exchange gains from the continued depreciation of the yen (¥39 million) and an increase in interest and dividend income received (¥12 million) pushed up ordinary profit, which reached ¥237 million (up 56.7% year on year). Cash flow from operating activities also improved substantially to ¥347 million, up from ¥59 million in the same period of the previous year, further strengthening the company's financial base.
Growth Strategy
Aiming for an operating profit margin of 10% in FY2027 (ending September 2027) through the development of high-value-added products, strengthening of overseas bases, and IT adoption
Demand for products for the semiconductor mounting industry has increased, offsetting the decline in demand for OA equipment and housing equipment applications. In the first half of FY2026 (ending September 2026) as well, demand from this industry contributed to boosting sales and profit, and the company continues to expand its product lineup into this growth field.
The company continues to expand into the Asian market through its equity-method affiliate NIX THAILAND. This has contributed to equity in earnings of affiliates (¥0.5 million in the first half) and an increase in the foreign currency translation adjustment account (+¥76 million in the first half), helping to expand the overseas earnings base.
Through continuous reduction of cost of sales, the gross profit margin for the first half of FY2026 (ending September 2026) improved to 45.3% (43.9% in the same period of the previous year). Selling, general and administrative expenses were kept at ¥846 million, roughly in line with the same period of the previous year, and a cost structure in which sales increases translate directly into profit is being realized.
Last updated: July 17, 2026