Batteries industry map
Who earns the money in Batteries, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 21 companies · ¥4.07T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥4.07T
- Companies
- 21
- Avg. salary（parent only）
- ¥7.7M
- Industry weather
- Cloudy
YoY +7.2%
Avg. age 42.6
Operating income -2.9%
TDK[6762]
Energy Application Products
- Revenue
- ¥1.37T▲16.5%
- Operating income
- ¥246.7B▲5.2%
Margin 18.0%
Whole company: Revenue ¥2.5T · Net income ¥195.7B
Avg. salary ¥9.2M · 43.0（parent only）
GS Yuasa[6674]
Automotive Batteries + 4 more
- Revenue
- ¥959.1B▲4.3%
- Operating income
- ¥95.7B▲22.7%
Margin 10.0%
Whole company: Revenue ¥609B · Net income ¥41.9B
Avg. salary ¥10.9M · 52.1（parent only）
Panasonic Holdings[6752]
Energy
- Revenue
- ¥941B▲13.6%
- Operating income
- ¥69.8B▼41.9%
Margin 7.4%
Whole company: Revenue ¥8.05T · Net income ¥189.5B
Avg. salary ¥9.9M · 44.1（parent only）
Sumitomo Metal Mining[5713]
Materials
- Revenue
- ¥249.6B▼6.9%
- Operating income
- —
Whole company: Revenue ¥1.74T · Net income ¥176.3B
Avg. salary ¥8.1M · 40.8（parent only）
Dowa Holdings[5714]
Electronic materials
- Revenue
- ¥96.1B▼39.3%
- Operating income
- ¥1.14B▲266.1%
Margin 1.2%
Whole company: Revenue ¥745.4B · Net income ¥62.5B
Avg. salary ¥8.3M · 43.3（parent only）
nichicon[6996]
NECST
- Revenue
- ¥67B▼12.5%
- Operating income
- ¥1.86B▼49.0%
Margin 2.8%
Whole company: Revenue ¥169.7B · Net income ¥6.31B
Avg. salary ¥6.9M · 45.5（parent only）
NGK[5333]
Energy and Industry Business
- Revenue
- ¥65.3B▲13.4%
- Operating income
- -¥1.32B
Margin -2.0%
Whole company: Revenue ¥670.1B · Net income ¥59.9B
Avg. salary ¥9.2M · 40.7（parent only）
Kanto Denka Kogyo[4047]
Fine Chemicals Division
- Revenue
- ¥52.5B▲6.2%
- Operating income
- ¥4.9B▲22.6%
Margin 9.3%
Whole company: Revenue ¥65.4B · Net income ¥3.79B
Avg. salary ¥7.4M · 40.8（parent only）
FDK[6955]
Battery
- Revenue
- ¥48.2B▼1.5%
- Operating income
- ¥1.71B▲49.3%
Margin 3.5%
Whole company: Revenue ¥59.6B · Net income ¥745M
Avg. salary ¥6M · 47.2（parent only）
Teijin[3401]
Other
- Revenue
- ¥46B▼19.7%
- Operating income
- ¥4.56B▼35.6%
Margin 9.9%
Whole company: Revenue ¥873.2B · Net income -¥88B
Avg. salary ¥8.9M · 46.8（parent only）
Maxell[6810]
Energy
- Revenue
- ¥42.5B▲0.0%
- Operating income
- ¥2.06B▼13.5%
Margin 4.9%
Whole company: Revenue ¥129.4B · Net income ¥8.26B
Avg. salary ¥7.7M · 44.6（parent only）
Diamond Electric Holdings[6699]
Energy solutions
- Revenue
- ¥24.1B▼1.6%
- Operating income
- ¥2.29B▼18.8%
Margin 9.5%
Whole company: Revenue ¥96.8B · Net income ¥217M
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: DKS · Nippon Kodoshi · PowerX · Nippon Denko · grems · Central Glass · OSAKA Titanium technologies · Remixpoint · W-Scope
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | TDKEnergy Application Products | ¥1.37T | 33.6% | 18.0% | +9.2% | — |
| 2 | GS YuasaAutomotive Batteries + 4 more | ¥959.1B | 23.5% | 10.0% | — | -¥1.6B |
| 3 | Panasonic HoldingsEnergy | ¥941B | 23.1% | 7.4% | +7.3% | -¥71.7B |
| 4▲1 | Sumitomo Metal MiningMaterials | ¥249.6B | 6.1% | — | -0.4% | ¥16.2B |
| 5▲1 | Dowa HoldingsElectronic materials | ¥96.1B | 2.4% | 1.2% | -13.4% | -¥29.9B |
| 6▲1 | nichiconNECST | ¥67B | 1.6% | 2.8% | — | ¥1.06B |
| 7▲1 | NGKEnergy and Industry Business | ¥65.3B | 1.6% | -2.0% | -0.8% | ¥82.5B |
| 8▲2 | Kanto Denka KogyoFine Chemicals Division | ¥52.5B | 1.3% | 9.3% | +1.8% | -¥1.27B |
| 9▲2 | FDKBattery | ¥48.2B | 1.2% | 3.5% | +2.9% | -¥1.2B |
| 10▼1 | TeijinOther | ¥46B | 1.1% | 9.9% | — | ¥38.7B |
| 11▲1 | MaxellEnergy | ¥42.5B | 1.0% | 4.9% | +2.4% | ¥52M |
| 12▲1 | Diamond Electric HoldingsEnergy solutions | ¥24.1B | 0.6% | 9.5% | +2.4% | -¥2.77B |
| 13▲1 | DKSEnvironment and Energy | ¥23.3B | 0.6% | 13.5% | — | ¥6.34B |
| 14▲1 | Nippon Kodoshi | ¥18.6B | 0.5% | 19.0% | +0.8% | ¥3.61B |
| 15▲5 | PowerXBESS business + 1 more | ¥18.3B | 0.4% | 18.9% | +216.3% | ¥62M |
| 16▲1 | Nippon DenkoFunctional Division | ¥14.8B | 0.4% | 13.0% | +7.4% | ¥9.74B |
| 17▲1 | gremsEnergy Solutions Business | ¥14.7B | 0.4% | 34.3% | — | ¥3.13B |
| 18▼2 | Central GlassEnergy Materials Sales segment | ¥12.1B | 0.3% | -27.0% | — | ¥17.1B |
| 19 | OSAKA Titanium technologiesHigh-performance materials | ¥6.51B | 0.2% | 13.4% | +19.3% | -¥3.9B |
| 20▲1 | RemixpointElectricityStorageSolutionBusinessReportableSegmentMember | ¥2.39B | 0.1% | 23.4% | — | -¥13.5B |
| 21new | W-ScopeSeparator | ¥2.21B | 0.1% | — | — | -¥390M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- grems651421
- Nippon Kodoshi691219
- NGK711514
- DKS701812
- OSAKA Titanium technologies751312
- TDK692211
- Sumitomo Metal Mining8411
- GS Yuasa741610
- Kanto Denka Kogyo76168
- Nippon Denko8497
- Central Glass73207
- Maxell7519
- Dowa Holdings887
- nichicon8214
- Panasonic Holdings6826
- FDK8116
- Diamond Electric Holdings8414
- PowerX7331loss ¥4
- Teijin8127loss ¥8
- Remixpoint11318loss ¥31
- W-Scope21026loss ¥136
Ownership links
From the major-shareholder section of annual securities reports.
- 日本製鉄株式会社Outside
- AffiliateNippon Denko24.3%
- StakeOSAKA Titanium technologies4.9%
- 富士通株式会社Outside
- StakeFDK17.6%
- 株式会社神戸製鋼所Outside
- StakeOSAKA Titanium technologies8.2%
- 日本ゼオン株式会社Outside
- StakeKanto Denka Kogyo6.2%
- StakeMaxell3.6%
- 日本紙パルプ商事株式会社Outside
- StakeNippon Kodoshi4.9%
- 本田技研工業㈱Outside
- StakeGS Yuasa4.9%
- 株式会社四国銀行Outside
- StakeNippon Kodoshi4.8%
- トヨタ自動車株式会社Outside
- StakeSumitomo Metal Mining4.1%
- 日本瓦斯株式会社Outside
- StakePowerX3.1%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Batteries (by revenue)
All 22 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- TDK¥1.37T · 18.0%
- GS Yuasa¥959.1B · 10.0%
- Panasonic Holdings¥941B · 7.4%
- Murata Manufacturing¥697.2B · 1.4%
- Sumitomo Metal Mining¥249.6B
- Dowa Holdings¥96.1B · 1.2%
- nichicon¥67B · 2.8%
- NGK¥65.3B · -2.0%
- Kanto Denka Kogyo¥52.5B · 9.3%
- FDK¥48.2B · 3.5%
- Teijin¥46B · 9.9%
- Maxell¥42.5B · 4.9%
- Diamond Electric Holdings¥24.1B · 9.5%
- DKS¥23.3B · 13.5%
- Nippon Kodoshi¥18.6B · 19.0%
- PowerX¥18.3B · 18.9%
- Nippon Denko¥14.8B · 13.0%
- grems¥14.7B · 34.3%
- Central Glass¥12.1B · -27.0%
- OSAKA Titanium technologies¥6.51B · 13.4%
- Remixpoint¥2.39B · 23.4%
- W-Scope¥2.21B
Revenue · Op. margin
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