Tokyo Cosmos Electric Co., Ltd.
6772・Standard Market・Electric Appliances
Variable Resistors
A highly profitable segment engaged in variable resistors for industrial and consumer equipment
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (full-year actual) | ¥4,154 million | ¥4,085 million | ↑ |
| Segment profit (full-year actual) | ¥1,160 million | ¥1,133 million | ↑ |
| Segment profit margin (full-year actual) | 27.9% | 27.7% | ↑ |
| Segment assets (full-year end) | ¥3,036 million | ¥3,072 million | ↓ |
| Revenue (cumulative Q3) | ¥2,802 million | ¥3,149 million | ↓ |
Business Details
A segment that manufactures and sells variable resistors and semi-fixed resistors for industrial and consumer equipment applications. The Company handles sales, while consolidated subsidiaries (Shirakawa Cosmos Denki, Nakatsu Cosmos Denki, Aizu Cosmos Denki, and Guangzhou Toko Electronics Co., Ltd.) handle outsourced assembly. The segment also expands overseas through sales subsidiaries in Taiwan, the US, and China, with order recovery driven by demand increases and the resolution of inventory adjustments supporting the business. The segment profit margin remains at a high level of approximately 27.9%.
Recent Overview
Cumulative Q3 revenue declined 11.0% year-on-year to ¥2,802 million
For the nine months ended December 2025 (cumulative Q3 of FY2026 (ending March 2026)), revenue was ¥2,802 million (vs. ¥3,149 million in the same prior-year period, down 11.0% year-on-year), and segment profit was ¥835 million (vs. ¥927 million in the same prior-year period, down 9.9% year-on-year). The main cause was sluggish demand from domestic radio equipment manufacturers and Chinese power supply manufacturers. On the other hand, in the most recent full-year results (FY2025, ended March 2025), order recovery driven by demand increases and the resolution of inventory adjustments proved effective, achieving higher revenue and profit with revenue of ¥4,153 million (up 1.7% year-on-year) and segment profit of ¥1,160 million (up 2.4% year-on-year).
Key Products
Growth Drivers
- Order recovery driven by demand increases and resolution of inventory adjustments (FY2025 actual results)
- Stable demand from domestic and overseas industrial and consumer equipment manufacturers
- Utilization of the overseas sales network through sales subsidiaries in Taiwan, the US, and China
- Promotion of productivity and value-added enhancement measures based on the Second Medium-Term Management Plan
Risks
- Sluggish demand from domestic radio equipment manufacturers and Chinese power supply manufacturers (became apparent in cumulative Q3 of FY2026, ending March 2026)
- Impact on electronic component demand from the slowdown in the Chinese economy
- Cost increase pressure from surging raw material prices
- Risk of reduced overseas sales due to yen appreciation trends in foreign exchange
- Delayed full recovery of market conditions in the electronic components industry
Last updated: June 24, 2026