SAWAFUJI ELECTRIC CO.,LTD.
6901・Standard Market・Electric Appliances
Electrical Equipment Business
Sawafuji Electric's core segment focused on electrical equipment for commercial vehicles
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Net Sales | ¥15,062 million | ¥14,880 million | ↑ |
| Segment Profit | ¥1,430 million | ¥1,436 million | ↓ |
| Share of Consolidated Net Sales | 60.2% | 63.0% | ↓ |
Business Details
A business mainly engaged in the development, manufacturing, and sale of starters for diesel trucks and buses, alternators, HV/EV motors, ECUs (Electronic Control Units), and other products. The main customer is Hino Motors. While sales to major domestic customers declined, sales were maintained due to increased sales from the start of new OEM production of electrical equipment and increased recovery of development costs for electrification products, among other factors. This is the largest segment, accounting for approximately 60% of consolidated net sales.
Recent Overview
Net sales increased on new OEM production and increased recovery of electrification development costs, but profit declined slightly due to worsened productivity
In FY2026 (ending March 2026), net sales for the Electrical Equipment Business were ¥15,062 million (up 1.2% year on year). Although sales to major domestic customers (Hino Motors, etc.) declined, net sales increased due to the start of new OEM production of electrical equipment, increased recovery of development costs for electrification products, and the effect of passing on rising procurement costs to sales prices, among other factors. On the other hand, segment profit was ¥1,430 million (down 0.4% year on year), a slight decrease, as worsened productivity weighed on profit. The segment's share of consolidated net sales declined from 63.0% to 60.2%.
Key Products
Growth Drivers
- Capturing new demand and increasing recovery of development costs through the start of production of electrification products such as motors and battery packs for commercial electric vehicles (HV/EV)
- Increased sales from securing new OEM production contracts (new OEM production began in FY2026)
- Maintaining profitability by passing on rising procurement costs to sales prices
- Expansion of products supporting commercial vehicle electrification under the medium- to long-term management plan "Challenge 2030"
Risks
- High dependence on the production and sales trends of major customers (Hino Motors, etc.)
- Sluggish automobile market in Southeast Asia and delays in the timing of the shift to electrification of commercial vehicles
- Rising procurement costs due to soaring raw material prices and yen depreciation
- Profit pressure from worsened productivity (became apparent in FY2026)
- Risk of planned delisting and changes to the management structure following the completion of the tender offer by ARTS-4 Co., Ltd.
Last updated: June 19, 2025