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Industry map/Automotive & Machinery

Electrical Equipment industry map

Who earns the money in Electrical Equipment, and who keeps it. When a company spans several industries, only the relevant segment is counted.

FY2025 · 61 companies · ¥13.4T

Industry map

Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.

Industry size (revenue)
¥13.4T

YoY +14.0%

Companies
61
Avg. salary（parent only）
¥6.9M

Avg. age 43.4

Industry weather
Sunny

Operating income +40.4%

Hitachi[6501]

Energy + 1 more

#1
Revenue
¥4.52T▲21.2%
Operating income
¥524.1B▲51.1%

Margin 11.6%

Whole company: Revenue ¥10.6T · Net income ¥802.4B

Avg. salary ¥9.9M · 42.2（parent only）

Mitsubishi Heavy Industries[7011]

Energy Systems

#2
Revenue
¥2.05T▲13.9%
Operating income
—

Whole company: Revenue ¥4.97T · Net income ¥332.1B

Avg. salary ¥10.7M · 42.3（parent only）

Mitsubishi Electric[6503]

Infrastructure

#3
Revenue
¥1.45T▲19.8%
Operating income
¥154.7B▲72.9%

Margin 10.7%

Whole company: Revenue ¥5.89T · Net income ¥407.8B

Avg. salary ¥9.1M · 40.5（parent only）

Sumitomo Electric Industries[5802]

Environment and Energy

#4
Revenue
¥1.14T▲9.0%
Operating income
¥90.6B▲15.1%

Margin 7.9%

Whole company: Revenue ¥5.11T · Net income ¥369.5B

Avg. salary ¥9M · 43.2（parent only）

Meidensha[6508]

Power infrastrucuture business + 3 more

#8▲
Revenue
¥319.2B▲8.5%
Operating income
¥29.4B▲33.0%

Margin 9.2%

Whole company: Revenue ¥326.2B · Net income ¥23.6B

Avg. salary ¥8.1M · 43.6（parent only）

  • Sumitomo Electric Industries owns 4.8%

Fuji Electric[6504]

Industry + 1 more

#5
Revenue
¥849.6B▲14.1%
Operating income
¥103.9B▲47.9%

Margin 12.2%

Whole company: Revenue ¥1.23T · Net income ¥98B

Avg. salary ¥8.4M · 44.9（parent only）

Kawasaki Heavy Industries[7012]

Energy Solution and Marine + 1 more

#6
Revenue
¥669.8B▲8.0%
Operating income
—

Whole company: Revenue ¥2.31T · Net income ¥108.2B

Avg. salary ¥9.1M · 41.7（parent only）

IHI[7013]

Resources, Energy and Environment

#7▲
Revenue
¥373.5B▼8.5%
Operating income
¥5.96B▼63.1%

Margin 1.6%

Whole company: Revenue ¥1.64T · Net income ¥161B

Avg. salary ¥10M · 42.4（parent only）

Sumitomo Heavy Industries[6302]

Energy and Lifeline

#9▲
Revenue
¥177.6B▼2.4%
Operating income
¥12.1B▲220.8%

Margin 6.8%

Whole company: Revenue ¥1.07T · Net income ¥30.9B

Avg. salary ¥8.6M · 43.5（parent only）

Swcc[5805]

Energy and Infrastructure operations

#10▲
Revenue
¥131.9B▲2.4%
Operating income
¥20.4B▲21.9%

Margin 15.5%

Whole company: Revenue ¥277.7B · Net income ¥18.8B

Avg. salary ¥7.2M · 44.7（parent only）

Daihen[6622]

Energy Management

#11▲
Revenue
¥128.2B▲6.1%
Operating income
¥14.2B▲23.4%

Margin 11.0%

Whole company: Revenue ¥237.7B · Net income ¥14.1B

Avg. salary ¥9.7M · 44.0（parent only）

Nitto Kogyo[6651]

Electrical and telecommunications infrastructure-related manufacturing, construction and service business

#12▲
Revenue
¥119.9B▲4.9%
Operating income
¥11.3B▲10.3%

Margin 9.4%

Whole company: Revenue ¥195.8B · Net income ¥11.5B

Avg. salary ¥7.2M · 40.1（parent only）

※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.

Other companies: Nippon Signal · Abalance · Takaoka Toko · Osaki Electric · Nabtesco · Kyosan Electric Manufacturing · Kanadevia · nichicon · Terasaki Electric · Nippon Sharyo · The Japan Steel Works · Toyo Denki Seizo K.K.(TOYO Electric MFG. ) · YASKAWA Electric · Aichi Electric · THE Kinki Sharyo · Kawaden · Togami Electric Mfg. · Daido Signal · Sinfonia Technology · Diamond Electric Holdings · Lecip Holdings · Sanyo Denki · Seiko Electric · Sansha Electric Manufacturing · Nasu Denki-Tekko · Iwabuchi · Takamisawa Cybernetics Company · Sanoyas Holdings · Daihatsu Infinearth MFG. · Shizuki Electric Company · Seiwa Electric MFG. · Morio Denki · Kimura Chemical Plants · Toyo Electric · Shindengen Electric Manufacturing · Origin · Otani Kogyo · Obara Group · Tokyo Keiki · Sukegawa Electric …+9

The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).

Switch years to see how the map shifts

Who earns the money

Area = revenue from businesses in this industry. Color = operating margin.

LossHigh margin(middle = 0% margin)

Who makes a profit

Across = revenue (log scale), up = operating margin, bubble size = operating income.

Ranking and momentum

RankCompany (business)RevenueShareOp. marginCAGRFCF*
1HitachiEnergy + 1 more¥4.52T33.8%11.6%+12.6%¥1.17T
2Mitsubishi Heavy IndustriesEnergy Systems¥2.05T15.3%—+5.7%¥761.6B
3Mitsubishi ElectricInfrastructure¥1.45T10.8%10.7%+11.6%¥333.6B
4Sumitomo Electric IndustriesEnvironment and Energy¥1.14T8.5%7.9%+9.0%¥203B
5Fuji ElectricIndustry + 1 more¥849.6B6.3%12.2%—¥39.5B
6Kawasaki Heavy IndustriesEnergy Solution and Marine + 1 more¥669.8B5.0%—+12.1%¥22.3B
7▲1IHIResources, Energy and Environment¥373.5B2.8%1.6%+2.2%—
8▲1MeidenshaPower infrastrucuture business + 3 more¥319.2B2.4%9.2%+7.2%¥2.26B
9▲1Sumitomo Heavy IndustriesEnergy and Lifeline¥177.6B1.3%6.8%-3.5%¥11.3B
10▲1SwccEnergy and Infrastructure operations¥131.9B1.0%15.5%+5.4%¥9.2B
11▲1DaihenEnergy Management¥128.2B1.0%11.1%—-¥8.22B
12▲1Nitto KogyoElectrical and telecommunications infrastructure-related manufacturing, construction and service business¥119.9B0.9%9.4%+11.5%¥12.6B
13▲1Nippon SignalTraffic and transportation infrastructure division + 1 more¥114.1B0.9%13.8%+7.6%¥1.58B
14▲8AbalanceSolar panel manufacturing business¥111.8B0.8%12.5%-44.1%¥3.36B
15Takaoka TokoElectric Equipment + 2 more¥109.4B0.8%13.4%+5.4%¥4.74B
16Osaki ElectricSmart meters and solutions in Japan + 1 more¥100.6B0.8%6.4%+7.6%¥3.44B
17NabtescoTransport Solutions¥100.5B0.8%13.5%+10.4%¥16.8B
18Kyosan Electric ManufacturingRailway Signaling Systems and Traffic Management Systems business + 1 more¥93.1B0.7%10.3%+6.3%¥2.41B
19▲1Kanadeviaelement¥69.2B0.5%-3.6%+14.8%-¥13.6B
20▼1nichiconNECST¥67B0.5%2.8%—¥1.06B
21Terasaki ElectricJapan + 2 more¥62.9B0.5%11.9%+13.5%-¥1.51B
22▲2Nippon SharyoRailway Rolling Stock¥48.6B0.4%9.4%+0.3%¥4.46B
23The Japan Steel WorksSteel and Engineering Products¥45.8B0.3%19.4%+3.4%-¥40.6B
24▲3Toyo Denki Seizo K.K.(TOYO Electric MFG. )Transportation + 2 more¥40.5B0.3%13.8%+6.0%¥25M
25YASKAWA ElectricSystem Engineering¥38.7B0.3%12.9%-7.2%¥5.93B
26Aichi ElectricElectric power apparatus¥38B0.3%15.1%+7.5%¥1.04B
27▲1THE Kinki SharyoRolling stock business¥36.3B0.3%0.8%-1.5%¥13.8B
28▲4Kawaden¥26.5B0.2%15.5%+9.7%¥4.07B
29▲4Togami Electric Mfg.Industrial electrical power distribution equipment business¥25.6B0.2%18.6%+8.1%¥1.53B
30▲4Daido SignalRailway signal related + 1 more¥25.3B0.2%14.8%+3.8%¥424.5M
31▼2Sinfonia TechnologyPower electronics machine¥25.1B0.2%13.1%+4.5%¥5.47B
32▼1Diamond Electric HoldingsEnergy solutions¥24.1B0.2%9.5%+2.4%-¥2.77B
33▼3Lecip HoldingsTransport Equipment Operations + 1 more¥23.9B0.2%5.6%—¥3.03B
34▲1Sanyo DenkiElectronics Company¥23.2B0.2%4.9%—¥7.97B
35▲1Seiko ElectricEnvironmental energy and control systems business unit + 1 more¥21.2B0.2%9.3%+3.6%¥2.11B
36▲1Sansha Electric ManufacturingPower Supply¥20.3B0.2%10.0%+8.0%¥2.11B
37▲1Nasu Denki-TekkoElectric and communication infrastructure related¥19.6B0.1%15.7%+0.9%¥2.3B
38▲2Iwabuchi¥13.5B0.1%10.8%+7.1%¥1.24B
39Takamisawa Cybernetics Company¥12.9B0.1%4.8%+6.8%¥127.1M
40▲1Sanoyas HoldingsConstruction business¥12.5B0.1%14.1%+14.9%¥2.06B
41▲1Daihatsu Infinearth MFG.Products for land engines¥11.5B0.1%15.3%+3.2%-¥2.48B
42▲2Shizuki Electric CompanyPower Equipment¥10.2B0.1%30.3%+14.0%¥3.27B
43Seiwa Electric MFG.InformationSystem¥9.53B0.1%13.8%-6.1%¥1.69B
44▲1Morio DenkiElectrical Equipment Manufacturing and Sales Businesses¥8.49B0.1%10.6%+0.4%-¥181.1M
45▲3Kimura Chemical PlantsEnergy and environment engineering¥8.4B0.1%19.2%+15.3%¥1.51B
46Toyo ElectricDomestic control device related + 1 more¥8.05B0.1%5.4%+3.6%¥740.7M
47▲2Shindengen Electric ManufacturingPower systems business¥7.41B0.1%16.3%—¥699M
48▼1OriginElectronics Business¥6.72B0.1%-2.0%-0.4%-¥1.7B
49▲1Otani KogyoThe electricity and communication sector¥4.85B0.0%13.6%+4.4%-¥719.9M
50newObara GroupElectrical Component¥4.75B0.0%7.5%—¥1.51B

Showing the top 50. See all 61 in the list below

* 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).

Ownership links

From the major-shareholder section of annual securities reports.

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. Showing up to 24 shareholder cards.

Compare the leaders side by side

All companies in Electrical Equipment (by revenue)

All 62 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.

  1. Hitachi¥4.52T · 11.6%
  2. Mitsubishi Heavy Industries¥2.05T
  3. Mitsubishi Electric¥1.45T · 10.7%
  4. Sumitomo Electric Industries¥1.14T · 7.9%
  5. Fuji Electric¥849.6B · 12.2%
  6. Kawasaki Heavy Industries¥669.8B
  7. Nidec¥573.9B · 12.3%
  8. IHI¥373.5B · 1.6%
  9. Meidensha¥319.2B · 9.2%
  10. Sumitomo Heavy Industries¥177.6B · 6.8%
  11. Swcc¥131.9B · 15.5%
  12. Daihen¥128.2B · 11.1%
  13. Nitto Kogyo¥119.9B · 9.4%
  14. Nippon Signal¥114.1B · 13.8%
  15. Abalance¥111.8B · 12.5%
  16. Takaoka Toko¥109.4B · 13.4%
  17. Osaki Electric¥100.6B · 6.4%
  18. Nabtesco¥100.5B · 13.5%
  19. Kyosan Electric Manufacturing¥93.1B · 10.3%
  20. Kanadevia¥69.2B · -3.6%
  21. nichicon¥67B · 2.8%
  22. Terasaki Electric¥62.9B · 11.9%
  23. Nippon Sharyo¥48.6B · 9.4%
  24. The Japan Steel Works¥45.8B · 19.4%
  25. Toyo Denki Seizo K.K.(TOYO Electric MFG. )¥40.5B · 16.5%
  26. YASKAWA Electric¥38.7B · 12.9%
  27. Aichi Electric¥38B · 15.1%
  28. THE Kinki Sharyo¥36.3B · 0.8%
  29. Kawaden¥26.5B · 15.5%
  30. Togami Electric Mfg.¥25.6B · 18.6%
  31. Daido Signal¥25.3B · 14.8%
  32. Sinfonia Technology¥25.1B · 13.1%
  33. Diamond Electric Holdings¥24.1B · 9.5%
  34. Lecip Holdings¥23.9B · 5.6%
  35. Sanyo Denki¥23.2B · 4.9%
  36. Seiko Electric¥21.2B · 9.3%
  37. Sansha Electric Manufacturing¥20.3B · 10.0%
  38. Nasu Denki-Tekko¥19.6B · 15.7%
  39. Iwabuchi¥13.5B · 10.8%
  40. Takamisawa Cybernetics Company¥12.9B · 4.8%
  41. Sanoyas Holdings¥12.5B · 14.1%
  42. Daihatsu Infinearth MFG.¥11.5B · 15.3%
  43. Shizuki Electric Company¥10.2B · 30.3%
  44. Seiwa Electric MFG.¥9.53B · 13.8%
  45. Morio Denki¥8.49B · 10.6%
  46. Kimura Chemical Plants¥8.4B · 19.2%
  47. Toyo Electric¥8.05B · 5.4%
  48. Shindengen Electric Manufacturing¥7.41B · 16.3%
  49. Origin¥6.72B · -2.0%
  50. Otani Kogyo¥4.85B · 13.6%
  51. Obara Group¥4.75B · 7.5%
  52. Tokyo Keiki¥4.25B · 16.1%
  53. Sukegawa Electric¥2.76B · 30.1%
  54. Finesinter¥2.38B · 27.1%
  55. Chuo Seisakusho¥1.51B · 26.8%
  56. Adtec Plasma Technology¥1.35B · 2.7%
  57. Consec¥951.9M · 7.1%
  58. Sanyo Engineering & Construction¥572M · -10.3%
  59. Chugokukogyo¥536M · 4.5%
  60. Daikokuya Holdings¥340.6M · 37.3%
  61. Earth Infinity¥87.4M · 35.1%
  62. Danto Holdings¥17M · -870.6%

Revenue · Op. margin

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