Advanex Inc.
5998・Standard Market・Metal Products
Japan
Core segment for domestic precision spring manufacturing and sales. Driven by demand for medical and OA equipment applications.
| Period | Current | Previous | Change |
|---|---|---|---|
| Non-consolidated net sales | ¥10,506 million | ¥10,245 million | ↑ |
| Non-consolidated operating income | ¥255 million | ¥220 million | ↑ |
| Non-consolidated ordinary income | ¥462 million | ¥1,346 million | ↓ |
| Non-consolidated net income (restated) | ¥82 million | ¥587 million | ↓ |
| Non-consolidated total assets (restated) | ¥20,208 million | ¥17,838 million | ↑ |
| Non-consolidated net assets (restated) | ¥1,515 million | ¥1,489 million | ↑ |
| Non-consolidated equity ratio (restated) | 7.5% | 8.3% | ↓ |
| Net income per share (restated) | ¥19.96 | ¥142.87 | ↓ |
| Net assets per share (restated) | ¥366.96 | ¥360.64 | ↑ |
Business Details
Domestic segment centered on Advanex Inc. itself, including Advanex PLUS (sales of steelmaking raw materials and non-ferrous metals) and Bear Giken Co., Ltd. (processing and sales of wire-drawn and rolled products of special steel and non-ferrous metals). Main customers are automotive, medical, OA equipment, and aircraft manufacturers. In addition to Precision Spring Products, the segment also handles Insert Molded Products and other items. On a non-consolidated basis, net sales for FY2026 (ending March 2026) were ¥10,506 million, with operating income of ¥255 million.
Recent Overview
Following the restatement, non-consolidated net income was significantly revised downward from ¥196 million to ¥82 million.
Under the corrected financial results announcement dated June 2, 2026, non-consolidated results were significantly revised. The main cause was an increase in provision for doubtful accounts (pre-restatement ¥211 million → post-restatement ¥326 million), which revised non-consolidated income before income taxes from ¥123 million to ¥8 million, and net income from ¥196 million to ¥82 million. Non-consolidated total assets were also revised downward from ¥20,323 million to ¥20,208 million, and net assets from ¥1,629 million to ¥1,515 million. The equity ratio declined from 8.0% to 7.5%. Net sales, operating income, and ordinary income were not restated (net sales up 2.5%, operating income up 15.7%). Consolidated cash flows were also restated simultaneously, with operating CF, investing CF, and financing CF all revised, although the ending cash balance of ¥5,158 million remained unchanged.
Key Products
Growth Drivers
- Continued expansion of the medical-related business (steady growth in medical-related demand both domestically and globally)
- Favorable trends for OA equipment and precision equipment applications
- Improved profitability from price increase effects (successful pass-through of rising raw material and labor costs)
- Expansion of standard products such as Coil Thread for the aviation market
- Increase in order intake (continuation of an upward trend versus the prior period)
Risks
- Credit risk related to receivables from affiliated companies, as indicated by the large increase in provision for doubtful accounts (restated provision of ¥410 million, sharply up from ¥84 million in the prior period)
- Sluggish growth in automotive-related demand (impact of the rise of Chinese manufacturers and certification fraud issues)
- Impact on the global economy from US tariff policy and geopolitical risk
- Upward pressure on fixed costs from rising raw material costs, electricity costs, and labor costs
- Foreign exchange risk (erosion of yen-converted overseas sales amid yen appreciation)
- Increased depreciation burden associated with rising capital expenditure
- Concerns over financial soundness due to the decline in the equity ratio (7.5%)
Last updated: June 22, 2026