PowerX, Inc.
485A・Growth Market・Electric Appliances
PowerX, Inc.
485A・Growth Market・Electric Appliances
BESS Business
Core business centered on the manufacture and sale of large-scale stationary battery storage systems
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥17,102 million | ¥4,143 million | ↑ |
| Segment profit | ¥3,870 million | ¥855 million | ↑ |
| Segment assets | ¥11,298 million | ¥3,733 million | ↑ |
| Firm order backlog for stationary batteries | ¥36,893 million | ¥5,130 million | ↑ |
| Depreciation | ¥18 million | ¥3 million | ↑ |
Business Details
Manufactures and sells the large-scale stationary battery storage system "PowerX Mega Power" (2.7MWh) and the medium-scale stationary battery storage system "PowerX Cube" for grid-scale and industrial/commercial battery storage applications, and provides operational testing and maintenance services. Main customers include power generation companies, urban developers, real estate companies, and logistics companies. Products are manufactured at a partner factory in Tamano City, Okayama Prefecture (annual production capacity of 400 units / 1,096MWh), with the company providing an integrated offering through to remote monitoring and charge/discharge control optimization via its proprietary battery storage operation system "Power OS." This is the core segment, accounting for 88.6% of consolidated net sales in FY2025 (ending December 2025).
Recent Overview
Steady delivery of PowerX Mega Power drove net sales up 312.8% YoY and segment profit up 352.6% YoY
In the BESS Business for FY2025 (ending December 2025), deliveries of "PowerX Mega Power" progressed steadily, resulting in net sales of ¥17,102 million (up 312.8% YoY from ¥4,143 million) and segment profit of ¥3,870 million (up 352.6% YoY from ¥855 million). Order intake also accumulated steadily, centered on units scheduled for shipment in 2026, bringing the firm order backlog for stationary batteries to ¥36,893 million (up 622.7% YoY). Continued support for grid-scale battery storage under the 7th Strategic Energy Plan (targeting 40-50% renewable energy by 2040) and the FY2025 supplementary budget has served as a tailwind.
Key Products
Growth Drivers
- Rapid expansion in demand for grid-scale battery storage based on the 7th Strategic Energy Plan (targeting 40-50% renewable energy by 2040)
- Increased acquisition of subsidy-approved projects through continued support for grid-scale battery storage in the FY2025 (Reiwa 7) supplementary budget
- Steady progress in PowerX Mega Power deliveries and accumulation of orders centered on units scheduled for shipment in 2026 (order backlog of ¥36,893 million)
- Improved cost competitiveness through lower procurement costs for common components as production volume expands
- Addressing economic security needs and promoting the strength of domestic manufacturing infrastructure through the "Made in Japan" declaration
Risks
- Risk of rising raw material costs for battery modules (sourced from China) due to rising lithium prices and the abolition of China's VAT export rebate, increasing procurement costs
- Foreign exchange risk: dollar-denominated procurement is assumed at around ¥155, but recent volatility has been significant, potentially affecting short-term performance
- A sales structure weighted toward the second half of the fiscal year due to reliance on the subsidy system, with seasonal fluctuations in first-half/second-half performance arising from the timing of meeting subsidy eligibility requirements
- Production capacity constraints: expanding factories and equipment to stabilize supply amid a rapid surge in orders is a challenge
- Contract risk related to the order backlog: risk of cancellations or changes to price/quantity before firm orders are confirmed, and risk of revenue not being recognized even for signed contracts
Last updated: June 26, 2026