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Elematec Research Memo (8): Agree with the TOB from Toyoda Gosei, recommend applying.
■ Elematech <2715> long-term growth strategy 3. As previously mentioned regarding the TOB by Toyota Tsusho, its parent company, Toyota Tsusho announced a public tender offer (TOB) for the company's stocks on October 29, 2024, and the company itself also announced on the same date that it "supports this TOB and recommends participation." Following the announcement of the completion of the TOB by Toyota Tsusho on December 12, 2024, the company will go through a series of procedures to become a wholly-owned subsidiary of Toyota Tsusho.
Elematec Research Memo (7): Currently developing a mid-term Global Strategy. In addition to deepening focus on key markets, management is promoting operations with an awareness of capital costs.
■ Elema Tech <2715>'s Medium to Long-Term Growth Strategy 1. Mid-term Management Strategy "Elema Tech Pro Plus" Basic Policy The company has announced its mid-term management strategy "Elema Tech Pro Plus" (from FY March 2024 to FY March 2026), following "Elema Tech NEXT," which was promoted until March 2023, and the following is an overview. (1) External Environment and Challenges The company identifies trends in the external environment as "geopolitical risks and volatility of domestic and overseas markets" and "customer needs.
Eramatec Research Memo (5): Cash on hand 34.4 billion yen, with a parent company ownership interest ratio of 61.0%, indicating a stable financial base.
■ The trends in the performance of ElemaTech <2715> 4. Financial Situation As of the end of the second quarter of the fiscal year ending March 2025, current Assets amounted to 105,448 million yen (a decrease of 2,571 million yen compared to the end of the previous period), primarily due to a decrease in cash and cash equivalents of 7,719 million yen, an increase in accounts receivable and QITABANKUAI of 4,228 million yen, and an increase in inventories of 605 million yen. Non-current Assets amounted to 8,852 million yen (a decrease of 341 million yen), mainly due to a decrease in tangible fixed assets of 158 million yen, and intangible Assets.
Erematech Research Memo (4): The profit from business activities for the second quarter of the fiscal year ending March 2025 saw a slight decrease compared to the same period last year.
■ The performance trends of Elematec <2715> 1. Overview of the performance in the second quarter of the fiscal year ending March 2025 The performance for the second quarter of the fiscal year ending March 2025 reported sales revenue of 98,360 million yen (a 3.7% decrease compared to the same period last year), operating profit related to business activities of 4,996 million yen (a 0.8% decrease), pre-tax interim profit of 4,433 million yen (a 4.3% decrease), and interim profit attributable to owners of the parent company of 3,068 million yen (a 7.2% decrease). By market segment, Automotive saw an increase in revenue.
Elematec Research Memo (3): Achieving stable growth by leveraging numerous products and trading partners. Promoting high value-added Business.
■ Company Overview of Elecom S.A. <2715> 2. Features and Strengths (1) Abundant Product Range and Solid Customer Base One of the notable features of the company is its numerous trade partners and product offerings. The number of suppliers amounts to approximately 7,000 (manufacturers), while it conducts transactions of various products, mainly electronic materials and Electronic Components, with about 6,000 sales partners (users). Although individual suppliers and sales partners are not disclosed, the top 10 sales partners account for about 40% of the revenue (202
ElemaTech Research Memo (2): An electronics trading company specializing in electronic materials with 73 locations both domestically and internationally.
■ Company Overview of Elema Tech <2715> 1. History and Business Contents (1) History Among the two predecessor companies, Takachiho Electric was established in Tokyo in 1947, and Onishi Electric was established in Kyoto in 1958. Both companies started with the handling of insulating materials and, in line with the subsequent flow of technological development, expanded their product offerings to include electronic materials for electronics products, thus expanding their business as an independent technical trading company. The two companies merged in 2009 (with Takachiho Electric as the surviving company) and,