SUKEGAWA ELECTRIC CO., LTD.
7711・Standard Market・Precision Instruments
Energy-related
Core segment providing temperature control and testing & research equipment for nuclear power and nuclear fusion applications
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (H1 FY2026 (ending March 2026, interim)) | ¥1,902 million | ¥1,418 million (H1 FY2025, interim) | ↑ |
| Segment profit (operating profit) (H1 FY2026, interim) | ¥664 million | ¥456 million (H1 FY2025, interim) | ↑ |
| Orders received (H1 FY2026, interim) | ¥2,188 million | 92.2% year-on-year | ↓ |
| Order backlog (end of H1 FY2026, interim) | ¥3,841 million | 123.0% year-on-year | ↑ |
| Net sales (current fiscal year, full-year results) | ¥2,759 million | － | ↑ |
| Segment profit (current fiscal year, full-year results) | ¥830 million | － | ↑ |
Business Details
The segment's main products are testing & research equipment such as safety verification test equipment for research institutions, and temperature control equipment for nuclear power and thermal power plants. Major customers during the current interim period were the Japan Atomic Energy Agency's Nuclear Science Research Institute (13.4% of net sales) and the National Institutes for Quantum Science and Technology (11.7%). Demand for nuclear power plant restarts and nuclear-related products for research institutions are driving growth, making this the core segment, accounting for approximately 61% of consolidated net sales.
Recent Overview
Nuclear-related products expanded rapidly, with interim net sales up 34.1% year on year
In H1 FY2026 (ending March 2026) (October 2025 to March 2026), nuclear-related products for research institutions and products related to nuclear power plant restarts increased, resulting in net sales of ¥1,902 million (up 34.1% year on year) and segment profit of ¥664 million (up 45.6% year on year), achieving significant growth in both revenue and profit. The order backlog remained at a high level of ¥3,841 million (123.0% year on year), and is expected to contribute to sales in the second half and beyond. On the other hand, orders received in the current interim period declined slightly to ¥2,188 million (92.2% year on year).
Key Products
Growth Drivers
- Increasing demand for products related to nuclear power plant restarts and products for research institutions
- Expansion of orders for nuclear fusion-related products (molten metal loops, etc.) from research institutions
- Tailwind from the 7th Strategic Energy Plan (approved by the Cabinet in February 2025), which promotes maximum utilization of nuclear and renewable energy
- Continued demand related to testing & research for next-generation innovative reactors and nuclear fusion testing & research (expected to drive growth from 2026 onward)
- High order backlog (¥3,841 million) expected to contribute to sales in the second half and beyond
- Improved production efficiency through optimized staffing and multi-skilled workers
Risks
- Risk of demand fluctuation due to changes in nuclear policy or tightening of regulations
- Earnings volatility due to uneven timing of order receipt and sales recognition for large-scale projects for research institutions
- Risk of budget cuts in research and development related to nuclear fusion and next-generation innovative reactors
- Impact of rising energy prices and economic uncertainty due to heightened geopolitical risk
- Challenges in securing the production capacity and personnel needed to maintain a high order backlog
- Orders received in the current interim period declined to 92.2% year on year, requiring continued monitoring of medium- to long-term order trends
Last updated: December 15, 2025