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Shindengen Electric Mfg Co Ltd
(6844)
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Rating:72Outperform
Price Target:
¥3,707.00
▲(10.33% Upside)
Action:Reiterated
Date:06/26/26
The score is driven primarily by attractive valuation (low P/E with a moderate dividend yield) and strong technical positioning (price above major moving averages with positive momentum). Offsetting these positives, financial performance is held back by weak and inconsistent cash conversion and historical earnings volatility, which increases execution risk despite the FY2026 rebound.
Positive Factors
Return to Profitability
A return to profitability in FY2026 with revenue growth restores internal funding capacity and signals operational recovery. Durable profits support reinvestment in product development, strengthen supplier/customer confidence, and provide a platform for rebuilding reserves and margins over the next 2–6 months.
Negative Factors
Weak Cash Generation
Inconsistent operating cash flow and mostly negative free cash flow limit the company’s ability to fund capex, pay sustained dividends, or rapidly de-lever. Even FY2026's modest free cash flow (~1.0B, ~15% of net income) implies profits are not reliably converting into durable liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Return to Profitability
A return to profitability in FY2026 with revenue growth restores internal funding capacity and signals operational recovery. Durable profits support reinvestment in product development, strengthen supplier/customer confidence, and provide a platform for rebuilding reserves and margins over the next 2–6 months.
Read all positive factors
Shindengen Electric Mfg Co Ltd (6844) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥33.29B
Dividend Yield3.1%
Average Volume (3M)45.43K
Price to Earnings (P/E)6.6
Beta (1Y)1.52
Revenue Growth7.29%
EPS GrowthN/A
CountryJP
Employees5,091
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)548.95
Shares Outstanding10,338,884
10 Day Avg. Volume48,200
30 Day Avg. Volume45,433
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.42
Price to Sales (P/S)0.27
P/FCF Ratio32.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)299.6
Revenue Forecast (FY)¥122.60B
Shindengen Electric Mfg Co Ltd Business Overview & Revenue Model
Company Description
Established in 1949 and headquartered in Tokyo, Japan, Shindengen Electric Manufacturing Co., Ltd. is a global producer and seller of semiconductors, electrical equipment, and power supply products. The company's reach extends across Japan, Indone...
How the Company Makes Money
Shindengen Electric Mfg. Co., Ltd. generates revenue primarily by designing, manufacturing, and selling power-electronics products to business customers (B2B). Key revenue streams include: (1) Sales of power semiconductor devices and modules: the ...
Shindengen Electric Mfg Co Ltd Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
67
Positive
Cash Flow
44
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 113.84B | 105.83B | 102.26B | 101.01B | 92.17B |
| Gross Profit | 17.67B | 14.35B | 15.05B | 17.79B | 18.64B |
| EBITDA | 12.86B | 4.00B | 7.32B | 10.04B | 12.62B |
| Net Income | 5.66B | -2.44B | -712.00M | 1.64B | 5.90B |
Balance Sheet | |||||
| Total Assets | 144.65B | 136.50B | 144.67B | 138.09B | 135.04B |
| Cash, Cash Equivalents and Short-Term Investments | 26.92B | 20.40B | 26.34B | 25.15B | 29.61B |
| Total Debt | 44.35B | 40.28B | 38.90B | 37.53B | 39.88B |
| Total Liabilities | 72.09B | 70.35B | 73.75B | 75.55B | 77.81B |
| Stockholders Equity | 72.56B | 66.14B | 70.92B | 62.54B | 57.23B |
Cash Flow | |||||
| Free Cash Flow | 958.00M | -6.80B | -2.24B | -2.18B | -796.00M |
| Operating Cash Flow | 6.32B | -2.18B | 2.21B | 2.74B | 8.29B |
| Investing Cash Flow | -2.12B | -4.53B | -1.78B | -4.09B | -7.91B |
| Financing Cash Flow | 1.90B | -186.00M | -252.00M | -3.55B | 1.27B |
Shindengen Electric Mfg Co Ltd Technical Analysis
Negative
3360.00
Price Trends
3559.30
Negative
3407.50
Negative
3388.54
Negative
Market Momentum
-61.65
Positive
41.39
Neutral
11.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6844, the sentiment is Negative. The current price of 3360 is below the 20-day moving average (MA) of 3448.50, below the 50-day MA of 3559.30, and below the 200-day MA of 3388.54, indicating a bearish trend. The MACD of -61.65 indicates Positive momentum. The RSI at 41.39 is Neutral, neither overbought nor oversold. The STOCH value of 11.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6844.
Shindengen Electric Mfg Co Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥33.29B | 6.60 | ― | 1.95% | 7.29% | ― | |
68 Neutral | ¥6.09T | 25.95 | ― | 1.20% | 21.98% | 57.54% | |
65 Neutral | ¥15.19T | 56.63 | 8.95% | 0.78% | 10.31% | 24.82% | |
63 Neutral | ¥41.68B | 19.12 | ― | 4.53% | 9.71% | 23.67% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | ¥201.85B | 26.34 | ― | 2.18% | 0.36% | 45.02% | |
45 Neutral | ¥88.49B | 21.96 | 4.16% | ― | 15.81% | ― |
* Technology Sector Average
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Shindengen Electric Mfg Co Ltd Corporate Events
Honda Cuts Stake in Shindengen, Loses Largest Shareholder Status
Aug 7, 2026
Shindengen Electric Manufacturing announced that Honda Motor Co., Ltd. has reduced its stake in the company via off-the-counter trading on the Tokyo Stock Exchange. Honda sold 390,200 shares, cutting its voting rights ratio from 11.7% to 7.9%, whi...
Shindengen’s First-Quarter Profit Falls Despite Higher Sales on Cost Pressures
Aug 7, 2026
Shindengen Electric Mfg Co Ltd reported a 7.7% year-on-year rise in first-quarter FY2026 net sales to 29,287 million yen, supported by solid demand for motorcycle applications in its Power Unit business and contributions from a business acquired i...
Shindengen Sales Rise but Profits Slide as Margin Pressures Mount
Aug 7, 2026
Shindengen Electric reported consolidated net sales of ¥29.29 billion for the quarter ended June 30, 2026, a 7.7% year-on-year increase, but operating profit fell 35.4% to ¥939 million and profit attributable to owners of parent dropped ...
Shindengen Completes Treasury Stock Disposal for Restricted Stock Compensation
Jul 24, 2026
Shindengen Electric Manufacturing Co., Ltd. has completed the payment procedures for the disposal of treasury stock used as restricted stock compensation, following a resolution by its Board of Directors on 26 June 2026. The move reflects the comp...
Shindengen to Dispose Treasury Stock for Restricted Share Compensation
Jun 26, 2026
Shindengen Electric Manufacturing will dispose of 8,733 shares of treasury stock on July 24, 2026, under its restricted stock compensation plan, allocating 5,625 shares to four internal directors and 3,108 shares to nine officers at a disposal val...
Shindengen Swings to Profit on Higher Sales and Power Device Reforms
May 14, 2026
Shindengen Electric Mfg Co Ltd reported a 7.6% year-on-year rise in net sales to ¥113.8 billion for FY2025, with operating profit surging to ¥3.85 billion and operating margin improving to 3.4% as all segments remained resilient. The tur...
Shindengen Electric Swings to Profit but Flags Profit Slowdown Despite Higher Sales
May 14, 2026
Shindengen Electric reported a sharp turnaround for the fiscal year ended March 31, 2026, with consolidated net sales rising 7.6% to ¥113.8 billion and profit attributable to owners of the parent swinging from a ¥2.4 billion loss to a &#...
Shindengen Electric Swings Back to Profit on Power Device Reforms
May 14, 2026
Shindengen Electric Mfg Co Ltd reported a strong rebound in earnings for fiscal 2025, as net sales rose 7.6% to ¥113.8 billion and all business segments remained resilient. The company’s operating profit surged to ¥3.8 billion, wit...
Shindengen Swings to Profit, Lifts Dividend After Strong FY2026
May 14, 2026
Shindengen Electric Manufacturing reported a sharp turnaround for the fiscal year ended March 31, 2026, with consolidated net sales rising 7.6% to ¥113.8 billion and profit attributable to owners of the parent swinging to ¥5.7 billion fr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.