Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Under Japanese GAAP)
May 14, 2026
Company name Shindengen Electric Manufacturing Co., Ltd Stock exchange listings: Tokyo Prime Securities code 6844 URL https://www.shindengen.co.jp/
Representative President Nobuyoshi Tanaka
Inquiries Officer, Division Manager, President's Office
Isao Matsubara Tel 048-483-5311
Date of general shareholders' meeting (as planned) June 26, 2026 Annual securities report filing date (as planned) June 24, 2026
Dividend payable date (as planned) June 29, 2026
Supplemental material of annual results Yes
Convening briefing of annual results Yes (for analysts and institutional investors)
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2026
113,836
7.6
3,848
-
4,577
-
5,655
-
March 31, 2025
105,830
3.5
128
(89.9)
(523)
-
(2,436)
-
Note: Comprehensive income
For the fiscal year ended March 31, 2026
7,613
Millions of yen
(－%)
For the fiscal year ended March 31, 2025
(3,444)
Millions of yen
(－%)
Basic earnings per share
Diluted earnings per share
Rate of return on equity
Ordinary profit to total assets ratio
Operating profit to net sales ratio
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2026
549.00
-
8.2
3.3
3.4
March 31, 2025
(236.15)
-
(3.6)
(0.4)
0.1
Reference: Investment profit (loss) on equity method
For the fiscal year ended March 31, 2026
105
Millions of yen
For the fiscal year ended March 31, 2025
99
Millions of yen
Consolidated financial position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2026
144,652
72,561
50.2
7,127.17
March 31, 2025
136,496
66,144
48.5
6,411.20
Reference: Owner's equity
As of March 31, 2026
72,561
Millions of yen
(3) Consolidated cash flows
As of March 31, 2025
66,144
Millions of yen
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and equivalents, end of period
Fiscal year ended
Millions of yen
Millions of yen
Millions of yen
Millions of yen
March 31, 2026
6,318
(2,117)
1,900
26,922
March 31, 2025
(2,179)
(4,528)
(186)
20,397
Cash dividends
Dividend per share
Total dividend paid
Payout ratio (consolidated)
Ratio of total amount of dividends to net
assets (consolidated)
First quarter
Second quarter
Third quarter
Year end
Annual
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Fiscal year ended March
31, 2025
-
0.00
-
65.00
65.00
670
-
1.0
Fiscal year ended March 31, 2026
-
0.00
-
100.00
100.00
1,018
18.2
1.5
Fiscal year ending March 31, 2027 (Forecast)
-
0.00
-
100.00
100.00
37.7
Consolidated financial forecast for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending September 30, 2026 | 59,200 | 9.1 | 1,300 | (43.9) | 1,300 | (47.3) | 900 | (63.0) | 88.40 |
Fiscal year ending March 31, 2027 | 121,200 | 6.5 | 4,000 | 3.9 | 3,900 | (14.8) | 2,700 | (52.3) | 265.20 |
Notes
Significant changes in the scope of consolidation during the period：None
Newly included: - companies (Company name) 、Excluded: - companies (Company name)
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations：None
Changes in accounting policies due to other reasons ：None
Changes in accounting estimates ：None
Restatement ：None
Number of issued shares (common shares)
① Number of issued and outstanding shares at the end of fiscal year (including treasury stock)
As of March 31, 2026 | 10,338,884shares | As of March 31, 2025 | 10,338,884shares |
② Number of treasury stock at the end of fiscal year
As of March 31, 2026 | 157,905shares | As of March 31, 2025 | 21,932shares |
③ Average number of shares
Fiscal year ended March 31, 2026 | 10,301,117shares | Fiscal year ended March 31, 2025 | 10,316,014shares |
Reference: (Yen amounts are rounded down to millions, unless otherwise noted.)
1. Non-consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
Non-consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2026
94,186
9.7
(323)
-
3,656
-
5,604
-
March 31, 2025
85,876
6.6
(5,178)
-
(3,337)
-
(3,333)
-
Basic earnings per share
Diluted earnings per share
Fiscal year ended
Yen
Yen
March 31, 2026
544.06
-
March 31, 2025
(323.14)
-
Non-consolidated financial position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2026
111,053
40,467
36.4
3,974.86
March 31, 2025
101,159
36,496
36.1
3,537.52
Reference: Owner's equity As of March 31, 2026 40,467 Millions of yen
As of March 31, 2025 36,496 Millions of yen
Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
The forward-looking statements, including the financial results forecast shown in this document, are based on information
currently available to the Company and on certain assumptions deemed to be reasonable by the Company. As such, they do not constitute guarantees by the Company of future performance. Actual performance and other results may also differ materially due to various factors.
(How to obtain a copy of the supplementary material on financial results and earnings results briefing materials)
The Company plans to hold a presentation of the financial results for securities analysts and institutional investors on May 20, 2026. The earnings results briefing materials distributed at the meeting will be posted promptly on the Company website after the meeting is held.
Consolidated financial statements Consolidated balance sheets
(Millions of yen) | ||
As of March 31, 2025 | As of March 31, 2026 | |
Assets | ||
Current assets | ||
Cash and deposits | 20,397 | 26,922 |
Notes and accounts receivable - trade | 18,949 | 20,203 |
Merchandise and finished goods | 12,039 | 11,933 |
Work in process | 6,306 | 6,120 |
Raw materials and supplies | 19,636 | 21,193 |
Other | 6,885 | 7,152 |
Allowance for doubtful accounts | (25) | (45) |
Total current assets | 84,189 | 93,480 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 16,175 | 16,515 |
Machinery, equipment and vehicles, net | 9,028 | 9,409 |
Land | 4,373 | 4,579 |
Leased assets, net | 514 | 465 |
Construction in progress | 2,724 | 2,827 |
Other, net | 2,334 | 2,608 |
Total property, plant and equipment | 35,150 | 36,406 |
Intangible assets | ||
Software | 506 | 538 |
Other | 41 | 84 |
Total intangible assets | 548 | 623 |
Investments and other assets | ||
Investment securities | 14,913 | 11,454 |
Deferred tax assets | 268 | 482 |
Retirement benefit asset | 500 | 1,096 |
Other | 969 | 1,153 |
Allowance for doubtful accounts | (45) | (44) |
Total investments and other assets | 16,607 | 14,141 |
Total non-current assets | 52,307 | 51,171 |
Total assets | 136,496 | 144,652 |
(Millions of yen) | ||
As of March 31, 2025 | As of March 31, 2026 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 13,844 | 14,005 |
Short-term borrowings | 9,260 | 11,896 |
Current portion of bonds payable | 525 | 400 |
Lease liabilities | 295 | 244 |
Income taxes payable | 215 | 435 |
Provision for bonuses | 803 | 1,183 |
Other | 5,977 | 4,707 |
Total current liabilities | 30,920 | 32,873 |
Non-current liabilities | ||
Bonds payable | 800 | 400 |
Long-term borrowings | 28,825 | 30,874 |
Lease liabilities | 576 | 541 |
Deferred tax liabilities | 2,785 | 2,727 |
Retirement benefit liability | 5,176 | 2,685 |
Provision for product warranties | 329 | 348 |
Asset retirement obligations | 892 | 1,593 |
Other | 46 | 46 |
Total non-current liabilities | 39,431 | 39,217 |
Total liabilities | 70,352 | 72,090 |
Net assets | ||
Shareholders' equity | ||
Share capital | 17,823 | 17,823 |
Capital surplus | 7,729 | 7,722 |
Retained earnings | 24,733 | 29,718 |
Treasury shares | (80) | (599) |
Total shareholders' equity | 50,205 | 54,664 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 4,098 | 3,662 |
Foreign currency translation adjustment | 5,072 | 5,033 |
Remeasurements of defined benefit plans | 6,767 | 9,200 |
Total accumulated other comprehensive income | 15,938 | 17,896 |
Total net assets | 66,144 | 72,561 |
Total liabilities and net assets | 136,496 | 144,652 |
Consolidated statements of income and consolidated statements of comprehensive income
Fiscal year ended March 31, 2025
(Millions of yen) Fiscal year ended
March 31, 2026
Net sales | 105,830 | 113,836 |
Cost of sales | 91,478 | 96,168 |
Gross profit | 14,352 | 17,668 |
Selling, general and administrative expenses | 14,223 | 13,820 |
Operating profit | 128 | 3,848 |
Non-operating income | ||
Interest income | 380 | 292 |
Dividend income | 639 | 652 |
Share of profit of entities accounted for using equity method | 99 | 105 |
Royalty income | 1 | 1 |
Foreign exchange gains | - | 487 |
Other | 162 | 246 |
Total non-operating income | 1,282 | 1,786 |
Non-operating expenses | ||
Interest expenses | 369 | 548 |
Foreign exchange losses | 1,177 | - |
Other | 387 | 508 |
Total non-operating expenses | 1,935 | 1,057 |
Ordinary profit (loss) | (523) | 4,577 |
Extraordinary income | ||
Gain on sale of investment securities | 182 | 2,461 |
Gain on sale of non-current assets | - | 399 |
Gain on bargain purchase | - | 123 |
Gain on liquidation of subsidiaries and associates | - | 121 |
Total extraordinary income | 182 | 3,106 |
Extraordinary losses | ||
Extra retirement payments | - | 689 |
Loss on sale of non-current assets | - | 266 |
Business restructuring expenses | 1,412 | - |
Total extraordinary losses | 1,412 | 955 |
Profit (loss) before income taxes | (1,754) | 6,727 |
Income taxes - current | 1,216 | 1,197 |
Income taxes - deferred | (535) | (124) |
Total income taxes | 681 | 1,072 |
Profit (loss) | (2,436) | 5,655 |
(Millions of yen)
Fiscal year ended March 31, 2025 | Fiscal year ended March 31, 2026 | |||
Profit attributable to | ||||
Profit (loss) attributable to owners of parent | (2,436) | 5,655 | ||
Other comprehensive income | ||||
Valuation difference on available-for-sale securities | (2,529) | (436) | ||
Foreign currency translation adjustment | 1,724 | (38) | ||
Remeasurements of defined benefit plans, net of tax | (204) | 2,432 | ||
Share of other comprehensive income of entities accounted for using equity method | 0 | 1 | ||
Total other comprehensive income | (1,008) | 1,958 | ||
Comprehensive income | (3,444) | 7,613 | ||
Comprehensive income attributable to | ||||
Comprehensive income attributable to owners of parent | (3,444) | 7,613 | ||
Comprehensive income attributable to non-controlling
interests － －
Consolidated statements of changes in equity Fiscal year ended March 31, 2025
(Millions of yen)
Shareholders' equity | Accumulated other comprehensive income | Total net assets | ||||||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholder s' equity | Valuation difference on available-for-sale securities | Foreign currency translation adjustment | Remeasure ments of defined benefit plans | Total accumulat ed other comprehe nsive income | ||
Balance at beginning of period | 17,823 | 7,732 | 28,510 | (95) | 53,970 | 6,627 | 3,347 | 6,971 | 16,946 | 70,917 |
Changes during period | ||||||||||
Dividends of surplus | (1,340) | (1,340) | (1,340) | |||||||
Profit attributable to owners of parent | (2,436) | (2,436) | (2,436) | |||||||
Purchase of treasury shares | (0) | (0) | (0) | |||||||
Disposal of treasury shares | (3) | 16 | 12 | 12 | ||||||
Net changes in items other than shareholders' equity | (2,528) | 1,724 | (204) | (1,008) | (1,008) | |||||
Total changes during period | - | (3) | (3,776) | 15 | (3,764) | (2,528) | 1,724 | (204) | (1,008) | (4,773) |
Balance at end of period | 17,823 | 7,729 | 24,733 | (80) | 50,205 | 4,098 | 5,072 | 6,767 | 15,938 | 66,144 |
Fiscal year ended March 31, 2026
(Millions of yen)
Shareholders' equity | Accumulated other comprehensive income | Total net assets | ||||||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholder s' equity | Valuation difference on available-for-sale securities | Foreign currency translation adjustment | Remeasure ments of defined benefit plans | Total accumulat ed other comprehe nsive income | ||
Balance at beginning of period | 17,823 | 7,729 | 24,733 | (80) | 50,205 | 4,098 | 5,072 | 6,767 | 15,938 | 66,144 |
Changes during period | ||||||||||
Dividends of surplus | (670) | (670) | (670) | |||||||
Profit attributable to owners of parent | 5,655 | 5,655 | 5,655 | |||||||
Purchase of treasury shares | (535) | (535) | (535) | |||||||
Disposal of treasury shares | (6) | 16 | 9 | 9 | ||||||
Net changes in items other than shareholders' equity | (435) | (38) | 2,432 | 1,958 | 1,958 | |||||
Total changes during period | - | (6) | 4,984 | (518) | 4,459 | (435) | (38) | 2,432 | 1,958 | 6,417 |
Balance at end of period | 17,823 | 7,722 | 29,718 | (599) | 54,664 | 3,662 | 5,033 | 9,200 | 17,896 | 72,561 |
Consolidated statements of cash flows
(Millions of yen) | ||
Fiscal year ended March 31, 2025 | Fiscal year ended March 31, 2026 | |
Cash flows from operating activities | ||
Profit (loss) before income taxes | (1,754) | 6,727 |
Depreciation | 5,379 | 5,584 |
Loss (gain) on sale of investment securities | (182) | (2,461) |
Loss (gain) on sale of property, plant and equipment | - | (133) |
Gain on bargain purchase | - | (123) |
Gain on liquidation of an affiliate | - | (121) |
Business restructuring expenses | 1,412 | - |
Increase (decrease) in provision for bonuses | (36) | 320 |
Increase (decrease) in provision for product warranties | (877) | 18 |
Increase (decrease) in retirement benefit liability | (407) | (884) |
Interest and dividend income | (1,019) | (944) |
Interest expenses | 369 | 548 |
Decrease (increase) in trade receivables | (284) | (924) |
Decrease (increase) in inventories | 1,227 | 1,097 |
Increase (decrease) in trade payables | (3,543) | (486) |
Decrease (increase) in consumption taxes refund receivable | (611) | 173 |
Increase (decrease) in accrued consumption taxes | 13 | - |
Decrease (increase) in accounts receivable - other | 109 | 26 |
Other, net | (758) | (1,213) |
Subtotal | (963) | 7,203 |
Interest and dividends received | 1,026 | 952 |
Interest paid | (370) | (556) |
Income taxes paid | (1,528) | (1,280) |
Payments of Business restructuring expenses | (343) | - |
Net cash provided by (used in) operating activities | (2,179) | 6,318 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (4,624) | (5,360) |
Proceeds from sale of property, plant and equipment | 37 | 536 |
Purchase of intangible assets | (136) | (259) |
Proceeds from sale of investment securities | 184 | 5,440 |
Purchase of shares of subsidiaries resulting in change in scope of consolidation | - | (2,271) |
Other, net | 10 | (203) |
Net cash provided by (used in) investing activities | (4,528) | (2,117) |
Cash flows from financing activities | ||
Proceeds from long-term borrowings | 10,000 | 16,000 |
Repayments of long-term borrowings | (7,495) | (12,026) |
Redemption of bonds | (1,027) | (526) |
Purchase of treasury shares | (0) | (535) |
Repayments of lease liabilities | (322) | (341) |
Dividends paid | (1,340) | (670) |
Net cash provided by (used in) financing activities | (186) | 1,900 |
Effect of exchange rate change on cash and cash equivalents | 951 | 423 |
Net increase (decrease) in cash and cash equivalents | (5,942) | 6,524 |
Cash and cash equivalents at beginning of period | 26,340 | 20,397 |
Cash and cash equivalents at end of period | 20,397 | 26,922 |
None
(Notes to the Consolidated Statements of Income and Comprehensive Income) (Business restructuring expenses)
In the previous consolidated fiscal year, as a result of the structural reform of the devices business, we recorded a severance payment of 629 million yen, a loss on revaluation of inventory of 200 million yen, an impairment loss of 184 million yen, a loss on disposal of fixed assets of 98 million yen, and other expenses of 300 million yen.
Segment InformationYear ended March 31, 2026(April 1, 2025 to March 31, 2026)
Reporting segment overview
The Company's reportable operating segments are components of an entity for which separate financial information is available and evaluated regularly by the board of directors in determining the allocation of management resources and in assessing performance.
The Shindengen Group formulates comprehensive domestic and overseas strategies for the products that its business divisions provide.
The Shindengen Group' business is organized into three reportable segments-Power Device Business, Power Unit Business and Power Systems & Solutions Business -which form the base of its business divisions. The
Power Device Business manufactures diodes, thyristors, power MOSFETs, power ICs and power modules. The Power Unit Business manufactures electronics components for motorcycles and automobiles, along with
general purpose sine wave inverters and EV chargers. The Power Systems & Solutions Business manufactures power supplies for telecommunication equipment.
Method of measuring reporting segment sales, profit (loss), assets, liabilities, and other items
The accounting policies for the reported business segments are consistent with those described in "Significant Matters that Form the Basis for Preparing Consolidated Financial Statements." Segment profit is based on operating profit. Intersegment sales or transfers are primarily based on market prices or manufacturing costs.
Fiscal year ended March 31, 2026 (April 1, 2025 to March 31, 2026)-
Net sales, profit (loss), identifiable assets/liabilities and other items by reporting segments
(Millions of yen)
Reportable segments
Other
Total
Adjustments
Per consolidated
financial statements
Power Devices business
Power Unit business
Power systems & Solutions
business
Reportable segments
Sales
Revenues from external customers
33,490
72,806
7,410
113,707
129
113,836
-
113,836
Transactions with
other segments
10,520
-
-
10,520
-
10,520
(10,520)
-
Net sales
44,010
72,806
7,410
124,228
129
124,357
(10,520)
113,836
Operating profit (loss)
2,533
3,847
1,209
7,590
(14)
7,575
(3,727)
3,848
Assets
53,497
58,709
5,709
117,916
423
118,340
26,311
144,652
Other items
Depreciation
2,986
2,416
181
5,584
-
5,584
-
5,584
Increase in property,
plant and equipment and intangible assets
1,886
3,373
153
5,413
-
5,413
357
5,771
Notes: 1. The "Other" category includes activities not included in the reporting segments, such as solenoids.
Details of adjustments are below:
¥ (3,727) million posted under "Adjustments" includes "Corporate expenses" that have not been allocated to each
reporting segment. "Corporate expenses" are primarily general and administrative expenses that cannot be attributed to any reporting segment.
Segment assets totaling ¥26,311 million posted under "Adjustments" comprise corporate assets of ¥ 26,284 million not allocated to each reporting segment and other adjustments of ¥ 27 million.
The increases in property, plant and equipment and intangible assets amounting to ¥ 357 million posted under "Adjustments" primarily comprises corporate assets not attributable to each reporting segment.
Segment profit is adjusted to the operating profit stated on the consolidated statements of income and consolidated statements of comprehensive income
Changes in reporting segments, etc.
From the current consolidated fiscal year, in accordance with the organizational reforms implemented on April 1, 2025, the
reporting segment has been renamed from the existing "Electronic device Business", "Car electronics Business" and "Energy systems & solutions Business" to "Power device Business", "Power unit Business" and " Power systems & solutions Business", and some product management categories have also been changed. In line with this change, we have transferred our EV charging infrastructure product line from the "Power systems & solutions Business" to the "Power unit Business".
(Information on gain on bargain purchase by reportable segment)
Fiscal year ended March 31, 2026 (April 1, 2025 to March 31, 2026)
In the Power Device business, on January 5, 2026, the Company acquired shares of a newly established company that succeeded the power device business of Kyocera Corporation through a company split. Accordingly, a gain on bargain purchase was recorded in the current consolidated fiscal year. The amount of gain on bargain purchase recognized from this event was 123 million yen. Since gain on bargain purchase is classified as extraordinary income, it is not included in the segment profit mentioned above.
-