SIIX Corp.
7613・Prime Market・Wholesale Trade
Business
Six Corporation was established in 1992 and is a global EMS group comprising 26 consolidated subsidiaries and 14 affiliated companies. It operates a five-region structure spanning Japan, Greater China, Southeast Asia, Europe, and the Americas, providing global procurement of materials such as electronic components, EMS (Electronics Manufacturing Services), and logistics services. Its main products cover a wide range of electronics, including automotive-related equipment (car multimedia, ECUs, in-vehicle cameras, etc.), industrial equipment, home appliances, and information equipment. Its main customers are major global companies, both Japanese and non-Japanese, with the Southeast Asia segment serving as the group's largest revenue pillar, generating net sales of ¥109,940 million. The company transitioned to the TSE Prime Market in 2022.
Business Model
The company undertakes clients' material procurement, manufacturing, and logistics needs on an integrated basis, leveraging a global procurement network and manufacturing sites in various regions to achieve both cost competitiveness and quality. Against net sales of ¥289,491 million, operating profit was ¥8,853 million (operating margin of 3.1%), reflecting a high-volume, low-margin business structure. Cost management through reductions in manufacturing expenses and transportation costs is the main driver of profit improvement, and in FY2025 (ending December 2025), operating profit increased 3.4% year on year even as sales declined.
Company Strengths
The company operates manufacturing and sales bases across five regions—Japan, Greater China, Southeast Asia, Europe, and the Americas—with 26 consolidated subsidiaries and 14 affiliated companies. Each region maintains an independent revenue base, such as the Southeast Asia segment's sales of ¥109,940 million and the Americas segment's ¥75,639 million, achieving both geopolitical risk diversification and BCP readiness simultaneously.
In FY2025 (ending December 2025), while sales declined across all segments, cost reductions in manufacturing expenses and other measures led to a 7.2% year-on-year increase in Southeast Asia segment profit (¥4,670 million), a 2.5% year-on-year increase in Americas segment profit (¥4,283 million), and a 2,765.5% year-on-year increase in Greater China segment profit (¥787 million). Operating profit rose 3.4% year on year to ¥8,853 million.
The equity ratio rose continuously from 38.8% in FY2021 (ending December 2021) to 49.7% in FY2025 (ending December 2025). The interest coverage ratio stood at 26.7 times (FY2025), and the ratio of cash flow to interest-bearing debt improved to 1.8 years. Operating cash flow increased year on year to ¥26,539 million, and cash and cash equivalents rose to ¥29,793 million.
ENVALITH's Perspective
Performance Trend
Revenue peaked at ¥309,768 million in FY2023 (ended December 2023), declined for two consecutive periods thereafter, and showed a recovery trend in Q1 FY2026 (ending March 2026), rising 2.0% year-on-year to ¥74,036 million. Operating profit reversed and improved to ¥8,853 million in FY2025 (ended December 2025), but softened temporarily in Q1 FY2026, down 5.4% year-on-year to ¥2,687 million. Ordinary profit increased 18.1% to ¥3,163 million, boosted by non-operating income such as gains on sale of fixed assets (¥823 million, versus ¥346 million in the same period of the previous year), and net income also improved, up 20.3% to ¥2,243 million. On the financial front, the equity ratio rose to 50.6%, and financial soundness improved through a reduction in short-term borrowings (from ¥14,602 million to ¥12,127 million). In terms of the external environment, strong AI-related demand in the United States and robust capital investment in Southeast Asia have served as tailwinds, while the downturn in China's real estate market, U.S. tariff policy, and rising packing and freight costs have acted as headwinds.
Growth Strategy
Advancing capture of CASE/IoT/DX demand, completion of European structural reforms, and expansion of the global customer base
Growth was driven primarily by increased shipments of materials for industrial equipment, with the Japan segment (up 12.6% year on year) and the Americas segment (up 16.1% year on year) leading the way. The company continues to capture robust capital investment in the U.S. driven by AI-related demand and to deepen relationships with major global companies.
Through cost structure reforms such as reductions in manufacturing expenses, the Europe segment turned profitable in Q1 FY2026, posting a profit of ¥109 million versus a loss of ¥195 million in the same period of the prior year. Shipments of materials for automotive-related equipment remained weak, down 14.7% year on year, leaving sales recovery and profit stabilization as the next challenges.
The company positions the demand for electrification and digitalization of automobiles and industrial equipment, driven by the progress of CASE, IoT, and DX, as a medium- to long-term growth opportunity, and is pursuing expanded transactions with major global companies regardless of whether they are Japanese or non-Japanese. Strengthening of EMS/ODM operations in Southeast Asia and robust investment in automation are supporting strong demand.
From Q1 FY2026, SEEK Electronics Corporation was integrated into the Japan segment, and the management classification was revised accordingly. The Japan segment's segment profit improved significantly, up 107.5% year on year to ¥421 million, with the strengthening of the domestic business foundation contributing to profitability.
Last updated: July 17, 2026