Origin Company, Limited
6513・Standard Market・Electric Appliances
Electronics Business
Origin's core business manufacturing and selling power supply equipment for medical, semiconductor manufacturing equipment, and telecommunications applications
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales | ¥6,722 million (FY2026, ending March 2026) | ¥7,504 million (FY2025, ended March 2025) | ↓ |
| Segment Profit (Loss) | ¥(134) million (FY2026, ending March 2026) | ¥839 million (FY2025, ended March 2025) | ↓ |
| Segment Assets | ¥6,682 million (FY2026, ending March 2026) | ¥8,179 million (FY2025, ended March 2025) | ↓ |
| Depreciation and Amortization | ¥207 million (FY2026, ending March 2026) | ¥134 million (FY2025, ended March 2025) | ↑ |
| Increase in Property, Plant and Equipment and Intangible Assets | ¥214 million (FY2026, ending March 2026) | ¥1,124 million (FY2025, ended March 2025) | ↓ |
| Share of Total Net Sales | 25.0% (FY2026, ending March 2026) | 26.0% (FY2025, ended March 2025) | ↓ |
Business Details
The Electronics Business is a segment engaged in the manufacture and sale of power supply equipment, with Power Supplies for Medical Equipment, Power Supplies for Semiconductor Manufacturing Equipment, Power Supplies for Telecommunications, and Mobility-related Power Supplies as its main products. In addition to the Company itself, subsidiaries Saitama Origin Co., Ltd. and Origin Korea Co., Ltd., as well as affiliate Kitafuji Origin Co., Ltd., are involved in manufacturing. In FY2026 (ending March 2026), the segment accounted for 25.0% of total net sales; a combination of stalled EV adoption, restrained semiconductor capital expenditure, and declining demand for medical power supplies resulted in a 10.4% year-on-year decrease in revenue and a shift to a segment loss.
Recent Overview
A combination of stalled EV adoption, restrained semiconductor investment, and declining medical demand caused a shift from prior-period profit to a loss
In FY2026 (ending March 2026), the Electronics Business recorded net sales of ¥6,722 million (down 10.4% year on year) and a segment loss of ¥134 million (versus a segment profit of ¥839 million in the prior period), a marked deterioration. While replacement demand for Power Supplies for Telecommunications remained solid, this was offset by continued restraint in capital expenditure for Power Supplies for Semiconductor Manufacturing Equipment, declining demand for Power Supplies for Medical Equipment, and weak sales of the portable EV charge/discharge device "POCHA V2V." The increase in property, plant and equipment and intangible assets, which had been actively invested in during the prior period, shrank sharply from ¥1,124 million to ¥214 million, making the transition from an investment phase to a profit-recovery phase a key challenge.
Key Products
Growth Drivers
- Continued replacement demand for Power Supplies for Telecommunications (remained solid in FY2026, ending March 2026)
- Positioning of Power Supplies for Semiconductor Manufacturing Equipment as a medium- to long-term growth market (expected to benefit from a recovery in capital expenditure)
- Development of the EV market for Mobility-related Power Supplies (POCHA V2V) through subsidy utilization
- Emergence of production capacity expansion effects from the large-scale capital expenditure (¥1,124 million) undertaken in the prior period
Risks
- Risk of prolonged restraint in customer capital expenditure for Power Supplies for Semiconductor Manufacturing Equipment
- Risk of unmet demand for Mobility-related Power Supplies (POCHA V2V) due to stalled EV adoption (materialized in FY2026, ending March 2026)
- Risk of demand fluctuation for Power Supplies for Medical Equipment (demand decline occurred in FY2026, ending March 2026)
- Rising manufacturing costs and margin pressure due to persistently high raw material prices
- Risk of increased fixed cost burden from rising depreciation and amortization expenses (from ¥134 million to ¥207 million) associated with large-scale capital expenditure in the prior period
Last updated: June 25, 2026