SERENDIP HOLDINGS Co.,Ltd.
7318・Growth Market・Transportation Equipment
Manufacturing Business
Core segment driving the modernization of management at mid-sized and small manufacturers brought under the group through M&A
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year, FY2025 ended March 2025) | ¥23,430 million | ¥18,523 million | ↑ |
| Segment profit (full year, FY2025 ended March 2025) | ¥702 million | ¥484 million | ↑ |
| Segment assets (as of end of FY2025 ended March 2025) | ¥27,617 million | ¥18,734 million | ↑ |
| Depreciation and amortization (full year, FY2025 ended March 2025) | ¥1,120 million | ¥1,226 million | ↓ |
| Net sales (cumulative 3Q, FY2026 ending March 2026) | ¥33,824 million | ¥14,344 million | ↑ |
Business Details
A segment that consolidates a group of manufacturing B2B companies (automotive interior and exterior parts, precision parts, FA equipment, prototypes, beauty equipment) that joined the group through business succession-type M&A. Major customers include Toyota Motor Corporation, Aisin Corporation, Toyota Boshoku, and other major automakers. This core business, which accounts for approximately 93% of the group's total sales, restores and enhances corporate value through the "modernization of management" via Professional Executive Dispatch and PMI. It has established a global supply system with production bases in North America and Asia.
Recent Overview
Cumulative 3Q net sales surged 135.8% year-on-year following the M&A of the Sutec Kariya Group
During the nine months ended December 2025 (cumulative Q3 of FY2026 ending March 2026), the company acquired shares of the Sutec Kariya Group (8 companies), making it a subsidiary, and incorporated it into the consolidated statement of income from the third quarter. As a result, segment net sales rose sharply to ¥33,824 million (up 135.8% year on year) and segment profit rose to ¥1,555 million (up 231.1% year on year). Note that ¥296 million in share acquisition-related expenses was recorded in this segment. In addition, effective January 1, 2026, the company carried out an organizational restructuring in which Serendip SPC No.1 (Serendip Automotive) became an intermediate holding company integrating Mitsuiya Kogyo and Excel.
Key Products
Growth Drivers
- Non-continuous growth through business succession-type M&A (Sutec Kariya Group (8 companies) joined the group in Q3 of FY2026 ending March 2026)
- Stable order base supported by automakers maintaining high levels of domestic production (major customers: Toyota Motor Corporation, Aisin Corporation, Toyota Boshoku)
- Promotion of "management modernization" through Professional Executive Dispatch and PMI (improving back-office productivity, utilizing IT on the manufacturing floor, eliminating waste, unevenness, and overburden)
- Expansion of sales channels for prototype production and steady progress in order intake through intra-group synergies
- Acceleration of the roll-up M&A strategy through the integration of Mitsuiya Kogyo and Excel under Serendip Automotive (formerly SPC No.1) as an intermediate holding company
Risks
- Downside risk to automobile exports and domestic production due to the impact of U.S. trade policy (tariffs)
- Delay in order confirmation in FA Equipment Manufacturing due to slower-than-expected recovery in capital expenditure by major customers
- Risk of increased interest-bearing debt and deteriorating financial condition (capital adequacy ratio of 21.0%) due to LBO financing associated with M&A execution
- Risk of changes in demand structure for existing products due to the automotive industry's response to CASE (electrification, autonomous driving)
- Risk of market contraction in the beauty tech market due to bankruptcies and reorganizations among major salons
Last updated: June 24, 2026