Nasu Denki Tekko Co Ltd

Nasu Denki Tekko maintains a strong liquidity position, with cash and equivalents amounting to ¥8.86 billion, representing 20% of total assets. The company's liquidity FPT (free cash flow to total liabilities) is robust, with a current ratio of 2.18 and a debt-to-equity ratio of 0.23, indicating a conservative capital structure.

Profitability metrics show a return on equity (ROE) of 1.59% and a return on assets (ROA) of 0.97%, both below the industry median for construction materials firms. Operating income of ¥745 million and net income of ¥428 million reflect a gross margin of 21.57% and an operating margin of 11.68%, which are in line with the industry's average profitability.

The company's revenue is concentrated in Japan, with no disclosed international operations. Segment-wise, it operates as a single business unit focused on steel production and distribution. No material revenue concentration risks are identified in the latest financial disclosures.

Looking ahead, the company is projected to maintain stable revenue growth, with a year-over-year increase of 1.2% in the current fiscal year and a 0.8% increase in the following year. Capital expenditures are expected to remain in line with depreciation, supporting asset maintenance without significant expansion.

Risk factors include low liquidity and dilution risk, with no immediate filing-based flags detected. The company has not issued new shares in the past 12 months, and no dilutive events are currently scheduled. The conservative debt structure and strong cash position reduce financial risk exposure.

Recent filings and transcripts show no material changes in business strategy or operational performance. The company continues to focus on cost efficiency and supply chain optimization, with no significant new projects or partnerships disclosed in the latest investor communications.

Operating and net margins significantly exceed the construction materials cohort median, indicating superior profitability relative to peers.

Free cash flow surged 522.1% year-over-year in FY2025, demonstrating a dramatic improvement in cash generation capabilities.

Cash conversion ratio of 7.5 ranks as best-in-class within the construction materials cohort, highlighting exceptional efficiency.

Net income grew at a 15.2% CAGR over four years, outpacing the modest 1.5% revenue growth rate.

Long-term debt decreased to JPY 5.1 billion in FY2025, reflecting a consistent deleveraging trend over the past five years.

Revenue contracted 1.7% year-over-year in FY2025, indicating a lack of top-line growth momentum in the current period.

Return on assets of 0.97% remains low, indicating limited ability to generate profits from total asset base.

Revenue ¥6.68B, +5,0% YoY; Operating income +34,5% YoY.

• ▍Revenue ¥6.68B, +5,0% YoY
• ▍Operating income +34,5% YoY
• ▍Net income +38,5% YoY
• ▍Net margin 13.6%

Revenue ¥5.92B, +4,1% YoY; Operating income +77,3% YoY.

• ▍Revenue ¥5.92B, +4,1% YoY
• ▍Operating income +77,3% YoY
• ▍Net income +42,6% YoY
• ▍Net margin 11.5%

Revenue ¥5.14B, +14,6% YoY; Operating income −5,6% YoY.

• ▍Revenue ¥5.14B, +14,6% YoY
• ▍Operating income −5,6% YoY
• ▍Net income −14,4% YoY
• ▍Net margin 8.5%

Revenue ¥6.40B, +0,2% YoY; Operating income −9,6% YoY.

• ▍Revenue ¥6.40B, +0,2% YoY
• ▍Operating income −9,6% YoY
• ▍Net income −43,1% YoY
• ▍Net margin 3.8%

Revenue ¥6.36B; Operating income ¥810.4M.

• ▍Revenue ¥6.36B
• ▍Operating income ¥810.4M
• ▍Net margin 10.3%

Revenue ¥5.69B; Operating income ¥519.7M.

• ▍Revenue ¥5.69B
• ▍Operating income ¥519.7M
• ▍Net margin 8.4%

Revenue ¥4.49B; Operating income ¥464.3M.

• ▍Revenue ¥4.49B
• ▍Operating income ¥464.3M
• ▍Net margin 11.3%

Revenue ¥6.39B; Operating income ¥745.0M.

• ▍Revenue ¥6.39B
• ▍Operating income ¥745.0M
• ▍Net margin 6.7%

Revenue ¥22.94B, −1,7% YoY; Operating income −6,4% YoY.

• ▍Revenue ¥22.94B, −1,7% YoY
• ▍Operating income −6,4% YoY
• ▍Net income +1,9% YoY
• ▍Free cash flow +522,1% YoY
• ▍Net margin 8.2%

Revenue ¥23.33B, +5,8% YoY; Operating income −1,1% YoY.

• ▍Revenue ¥23.33B, +5,8% YoY
• ▍Operating income −1,1% YoY
• ▍Net income −0,3% YoY
• ▍Free cash flow +0,8% YoY
• ▍Net margin 7.9%

Revenue ¥22.06B, −3,9% YoY; Operating income −5,4% YoY.

• ▍Revenue ¥22.06B, −3,9% YoY
• ▍Operating income −5,4% YoY
• ▍Net income −27,9% YoY
• ▍Free cash flow −89,5% YoY
• ▍Net margin 8.4%

Revenue ¥22.96B, +6,3% YoY; Operating income +71,0% YoY.

• ▍Revenue ¥22.96B, +6,3% YoY
• ▍Operating income +71,0% YoY
• ▍Net income +140,6% YoY
• ▍Free cash flow +80,8% YoY
• ▍Net margin 11.2%