MAX CO.,LTD.
6454・Prime Market・Machinery
Office Equipment
Segment manufacturing and selling office machinery and stationery-related products domestically and internationally; fell into declining revenue and profit in FY2026 (ending March 2026)
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue | ¥21,438 million | ¥21,878 million | ↓ |
| Segment Profit | ¥3,587 million | ¥4,477 million | ↓ |
| Segment Profit Margin | 16.7% | 20.5% | ↓ |
| Segment Assets | ¥17,938 million | ¥17,790 million | ↑ |
| Depreciation | ¥695 million | ¥689 million | ↑ |
Business Details
Manufactures and sells office machinery and stationery-related products including staplers, time recorders, character display devices (Beepop, Letatwin), and auto staplers. Comprises three businesses: Domestic Office Business, Overseas Office Business, and Auto Stapler Business. Primarily targets corporate customers domestically and internationally, with manufacturing also utilizing overseas bases in Thailand, China, and Malaysia. In FY2026 (ending March 2026), segment profit margin declined significantly to 16.7% from 20.5% in the prior period, falling below the company-wide average (17.6%).
Recent Overview
Stagnant orders in the Auto Stapler Business due to U.S. tariff measures weighed on results, leading to a significant profit decline of 2.0% revenue decrease and 19.9% profit decrease
In FY2026 (ending March 2026), the Office Equipment segment posted revenue of ¥21,438 million (down 2.0% year on year), segment profit of ¥3,587 million (down 19.9% year on year), and segment profit margin of 16.7% (down 3.8 points year on year), a significant deterioration. The main cause was the Auto Stapler Business (revenue down 8.0% year on year), where sluggish market conditions due to U.S. tariff measures and stagnant customer orders had an impact. Meanwhile, the Overseas Office Business secured revenue growth of +7.4% year on year, driven by increased sales of character display devices resulting from greater trade show participation in Europe. The Domestic Office Business posted a revenue decrease of 2.5% year on year due to weak trends in stationery-related products and office machinery.
Key Products
Growth Drivers
- Securing prospective deals and expanding sales of character display devices (Beepop) through increased trade show participation focused on Europe in the Overseas Office Business
- Promoting demand development in the domestic market through proposal activities for uses such as labels compliant with chemical substance regulations for character display devices
- Continuation of solid sales trends for stationery-related products in the Overseas Office Business
Risks
- Risk of continued sluggish market conditions and stagnant orders in the Auto Stapler Business due to the ongoing impact of U.S. tariff measures
- Risk of continued weak sales trends for domestic stationery-related products and office machinery
- Recovery of profitability is a challenge, as the segment profit margin has declined to 16.7%, below the company-wide average (17.6%)
- Foreign exchange risk (given the high ratio of overseas manufacturing bases and overseas sales, impact on revenue and profit when the yen appreciates)
Last updated: June 23, 2026