NEW COSMOS ELECTRIC CO.,LTD.
6824・Standard Market・Electric Appliances
Business
New Cosmos Electric was founded in 1960 and handles everything in-house from Gas Sensor research and development and manufacturing to product development, sales, and Maintenance Service for alarms and detectors. The business consists of the single Gas Alarm Business (Single Segment), covering three categories: Residential Gas Alarms (59.0% of sales), Industrial Fixed Gas Detection Alarms (23.3%), and Commercial Portable Gas Detectors (14.3%). Domestically, the company supplies products to city gas and LPG providers as well as the electric power, chemical, and semiconductor industries, while overseas it promotes global expansion with subsidiaries and sales offices in North America, Europe, and Asia. In FY2026 (ending March 2026), the overseas sales ratio reached 51.8%, giving the company a business foundation both domestically and internationally.
Business Model
The company conducts research, development, and manufacturing of its core MEMS Gas Sensor technology in-house (including at Figaro Engineering), differentiating itself from competitors by installing internally manufactured components into its products. Manufacturing is handled by Izumi Electric (domestic) and subsidiaries in China and Europe, while sales are conducted through the domestic sales network and overseas local subsidiaries and distributor networks. In addition to product sales, Maintenance Service provided by New Cosmos Electric Service and overseas subsidiaries serves as a continuous source of revenue.
Company Strengths
The group, including Figaro Engineering, completes research and development and manufacturing of MEMS gas sensors internally. R&D expenses for FY2026 (ending March 2026) totaled ¥3,034 million (6.1% of net sales). The company continues to expand its unique lineup, including carbonyl sulfide sensors for semiconductor plants and hydrogen sensors, with Sensor technology forming the core of product differentiation.
The company has established subsidiaries and offices in North America (New Cosmos USA), Europe (New Cosmos-BIE B.V.), and China, South Korea, Taiwan, and Thailand. In FY2026 (ending March 2026), North American sales increased 77.8% year on year to ¥15,944 million, and the overseas sales ratio reached 51.8% (up 5.6 percentage points year on year), indicating that years of investment are now entering a phase of monetization.
At the end of FY2026 (ending March 2026), the equity ratio stood at 72.7% (up 1.9 percentage points from the previous fiscal year-end), with net assets of ¥57,443 million. Against outstanding borrowings of ¥4,020 million, the company held cash and cash equivalents of ¥20,245 million, indicating ample effective liquidity on hand. This stable financial base supports proactive research and development and capital investment.
ENVALITH's Perspective
Performance Trend
Revenue increased for five consecutive fiscal years, from ¥34,336 million in FY2022 (ending March 2022) to ¥50,091 million in FY2026 (ending March 2026). Operating profit temporarily declined to ¥4,086 million in FY2024 (ending March 2024), then recovered sharply to ¥5,155 million in FY2025 (ending March 2025) and ¥7,351 million in FY2026 (ending March 2026), reaching a new record high. The operating margin improved from 10.6% in FY2024 (ending March 2024) to 14.7% in FY2026 (ending March 2026). As an external factor, mandatory alarm installation regulations in North America drove rapid expansion in Residential Gas Alarms (up 36.2% year on year). Operating cash flow was robust at ¥5,959 million (up 21.9% year on year). A key point of attention going forward is that FY2027 (ending March 2027) is projected to see a shift to a profit decline, with operating profit forecast at ¥6,000 million (down 18.4% year on year) due to increased upfront investment.
Growth Strategy
Concurrent monetization of North American regulatory demand and construction of a market foundation for the European hydrogen and carbon-neutral markets
Sales of battery-powered methane alarms and Gas Sensors for North America continue to expand, driven by regulations such as the New York City ordinance. North American sales for FY2026 (ending March 2026) surged to ¥15,944 million (up 77.8% year on year), delivering results as the core initiative of the "deployment" phase of the Medium-Term Management Plan.
Developed a residential battery-powered hydrogen alarm, which was adopted for SGN's (UK) green hydrogen project. The company is advancing product deployment in the carbon-neutral market centered on Europe, building a market foundation as a future revenue source.
Promoting the development of battery-powered LP gas alarms to pursue new market development both domestically and internationally. In addition to the existing product lineup for city gas and methane, the company aims to diversify its revenue base by expanding its product lineup into the LP gas market.
Completed development of a residential battery-powered gas alarm equipped with LoRaWAN network functionality for North America. The company aims to raise unit prices and differentiate from competitors by expanding its lineup of high-value-added products equipped with IoT and network functions.
Jointly developed the AR laser gas visualization device "Laser Gas Visualizer" with ENEOS Globe, Tokyo Gas Engineering Solutions, and NeoRealX. Also renewed the explosion-proof fan-equipped wear "AIR FLOW PRO" and the inspection device "Xai STATION Ⅱ," and sales related to Commercial Portable Gas Detectors expanded to ¥7,145 million (up 11.6% year on year).
Last updated: July 19, 2026