KYOSHA CO., LTD.
6837・Standard Market・Electric Appliances
Japan
Core segment responsible for domestic Printed Wiring Boards and Mounting-related businesses
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (including intersegment transactions) | ¥10,672 million | ¥10,155 million | ↑ |
| Net sales to external customers | ¥9,935 million | ¥9,465 million | ↑ |
| Operating income (segment loss) | -¥39 million | -¥218 million | ↑ |
| Depreciation and amortization | ¥397 million | ¥295 million | ↓ |
Business Details
The domestic segment operated by Kyosha Co., Ltd. and Sanwa Electronics Co., Ltd. It consists of the core Printed Wiring Boards business (Single-sided & Double-sided Printed Wiring Boards, Metal Substrates, Molds & Circuit Design) and the Mounting-related business, which handles electronic component mounting jigs and mounting transport jigs. Products are sold to a wide range of customers, including automotive-related, home appliance, office equipment, industrial equipment, aircraft, and communications equipment sectors. The launch of new mass production of high value-added Metal Substrates is positioned as a pillar of domestic growth.
Recent Overview
Higher sales driven by new orders for Metal Substrates and automotive use; operating loss significantly narrowed
In the Japan segment for FY2026 (ending March 2026), net sales to external customers increased to ¥9,935 million (up ¥470 million year on year), driven by increased orders for Metal Substrates used in home appliances such as LED lighting and electronic components, as well as new orders won in the automotive-related field. On the other hand, although increased costs associated with the launch of new mass production of Metal Substrates and rising raw material and manufacturing expenses pressured profits, continued efforts in sales price optimization and cost improvement significantly narrowed the operating loss from ¥218 million in the prior period to ¥39 million. In the Mounting-related business, while orders for AI servers increased, orders for industrial equipment decreased, resulting in a decline from the same period of the previous year.
Key Products
Growth Drivers
- Increased orders for Metal Substrates used in home appliances such as LED lighting and electronic components
- Winning of new orders in the automotive-related field
- Future earnings contribution from the domestic launch of new mass production of high value-added Metal Substrates
- Expansion of orders for the Mounting-related business for AI servers
- Improved profitability through continued efforts in sales price optimization
Risks
- Decline in orders in core fields due to continued weak production by automakers
- Profit pressure from increased costs associated with the launch of new mass production of Metal Substrates
- Sharp rises in raw materials and manufacturing expenses (persistently high energy prices)
- Sluggish orders in the Mounting-related business for industrial equipment
- Risk of demand fluctuation due to deterioration of the external environment, including US tariff policy and China's economic slowdown
Last updated: June 25, 2026