Maxell, Ltd.
6810・Prime Market・Electric Appliances
Energy
Battery and Energy business segment centered on primary batteries as its growth axis
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales | ¥42,458 million | ¥42,453 million | — |
| Operating Profit | ¥2,065 million | ¥2,388 million | ↓ |
| Segment Assets | ¥42,514 million | – (prior-period comparison figure not disclosed in this document) | ↑ |
| Depreciation and Amortization | ¥1,550 million | – (prior-period segment figure not disclosed in this document) | — |
| Increase in Property, Plant and Equipment and Intangible Assets | ¥8,021 million | – (prior-period segment figure not disclosed in this document) | ↑ |
Business Details
This segment manufactures and sells primary batteries such as heat-resistant coin-type and cylindrical lithium batteries, as well as secondary batteries such as coin-type lithium secondary batteries and All-Solid-State Batteries. Primary batteries for medical device and infrastructure applications are positioned as key growth areas, with analog core technologies (mixing/dispersion, precision coating, and high-precision molding) serving as the source of competitive advantage. During the fiscal year under review, although revenue declined due to the discontinuation of production of prismatic lithium-ion batteries, overall sales remained roughly flat thanks to strong sales of primary batteries. Note that the Chinese subsidiary Wuxi Maxell Energy Co., Ltd. was excluded from the scope of consolidation during the fiscal year due to a transfer of equity interests.
Recent Overview
Despite strong primary battery sales, operating profit declined 13.5% due to rising raw material costs and increased development expenses
In the Energy segment for FY2026 (ending March 2026), although revenue declined due to the discontinuation of production of prismatic lithium-ion batteries, strong sales of primary batteries for medical device and infrastructure applications kept net sales roughly flat, up ¥5 million year on year to ¥42,458 million. Operating profit, on the other hand, decreased 13.5% (down ¥323 million) to ¥2,065 million due to rising costs of certain raw materials and increased development expenses for All-Solid-State Batteries. In addition, the company transferred all of its equity interests in its Chinese subsidiary Wuxi Maxell Energy Co., Ltd., excluding it from the scope of consolidation. For FY2027 (ending March 2027), the company plans a substantial recovery, forecasting net sales of ¥53,000 million (up 24.8% year on year) and operating profit of ¥3,100 million (up 50.1% year on year).
Key Products
Growth Drivers
- Expanding demand for medical device primary batteries (including for CGM devices) and building increased production capacity
- Maintaining and expanding the world's top share in heat-resistant coin-type lithium batteries for in-vehicle tire pressure sensing (TPMS) applications
- Addressing market expansion for cylindrical lithium batteries for smart meters (gas and water)
- Contribution to new business through the start of mass-production deliveries of All-Solid-State Batteries for industrial equipment applications and expansion of use cases
- Portfolio reform and improved earnings structure following the discontinuation of production of prismatic lithium-ion batteries
Risks
- Profit pressure from rising costs of certain raw materials and the time lag in passing costs through to selling prices
- Short-term impact on profit from increased development expenses for All-Solid-State Batteries
- Impact on demand for in-vehicle primary batteries and heat-resistant CR batteries from a slowdown in automotive market growth
- Slowdown in the global market due to US tariff measures and geopolitical risk
- Risk of delays in the ramp-up of mass production of All-Solid-State Batteries
Last updated: June 24, 2026