HODEN SEIMITSU KAKO KENKYUSHO CO.,LTD.
6469・Standard Market・Machinery
EDM & Surface Treatment
Core group segment handling precision processing for the aerospace and energy industries
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (Q1 cumulative, FY2027 (ending February 2027)) | ¥3,100 million | ¥2,444 million (Q1 cumulative, FY2026 (ending February 2026)) | ↑ |
| Segment operating profit (Q1 cumulative, FY2027 (ending February 2027)) | ¥706 million | ¥577 million (Q1 cumulative, FY2026 (ending February 2026)) | ↑ |
| Sales (full year, FY2026 (ending February 2026)) | ¥9,906 million | ¥8,635 million (full year, FY2025 (ending February 2025)) | ↑ |
| Segment operating profit (full year, FY2026 (ending February 2026)) | ¥2,025 million | ¥1,435 million (full year, FY2025 (ending February 2025)) | ↑ |
| Order intake (Q1 cumulative, FY2027 (ending February 2027)) | ¥3,595 million | ¥2,518 million (Q1 cumulative, FY2026 (ending February 2026)) | ↑ |
| Order intake (full year, FY2026 (ending February 2026)) | ¥11,354 million | — | ↑ |
Business Details
Combines electrical discharge machining (EDM) technology with surface treatment using U.S.-licensed technology, primarily engaged in contract machining of aircraft engine parts, industrial gas turbine parts, and defense equipment. Major customers are the Mitsubishi Heavy Industries group (37.3% of sales) and the Kawasaki Heavy Industries group. Also engaged in the manufacture and sale of heat- and corrosion-resistant coatings (Thermetal Coating, etc.) and the fully chrome-free anti-corrosion surface treatment agent "ZEC Coat." This is the largest segment, accounting for approximately 72% of group sales.
Recent Overview
Q1 sales rose sharply, up 26.9% year-on-year, driven by expanding demand in aerospace and energy
In Q1 of FY2027 (ending February 2027) (March–May 2026), sales reached ¥3,100 million (up 26.9% year on year) and segment operating profit reached ¥706 million (up 22.4% year on year). In addition to increased demand for aircraft engine parts and defense equipment, equipment for gas turbine parts that was capacity-expanded in the prior fiscal year began phased operation. In the aerospace-related business, profitability is improving through economies of scale. Order intake also expanded substantially to ¥3,595 million (up 42.8% year on year), and demand outlook remains solid.
Key Products
Growth Drivers
- Expansion of gas turbine parts orders driven by rising global electricity demand from AI adoption
- Increased demand for aircraft engine parts amid recovery in passenger and cargo demand
- Increased demand for defense equipment due to substantial expansion of defense buildup plans
- Strengthened supply capacity through phased operation of capacity-expansion equipment implemented in the prior fiscal year
- Improved profitability in the aerospace-related business through economies of scale
- Expanded order intake for the gas turbine business in Western markets (strengthened overseas expansion)
Risks
- Sales concentration among the top four customer groups (Mitsubishi Heavy Industries group alone accounts for 37.3% of sales)
- Risk from policy changes affecting aircraft demand and defense budgets
- Risk of fluctuation in gas turbine demand due to shifts in energy policy
- Risk of rising fixed costs and lower utilization rates associated with production capacity expansion
- Technology continuity risk in the surface treatment business, which depends on U.S.-licensed technology
- Risk of impairment losses on fixed assets (given the segment's numerous business sites)
Last updated: May 25, 2026