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Japan's oldest electronics maker, now focused on ATMs, printers and telecom/embedded systems for banks and enterprises.
Japan's oldest electronics maker, now focused on ATMs, printers and telecom/embedded systems for banks and enterprises.
Sells ATMs and bank terminals mainly to Japanese banks and retailers and then earns again from maintenance and software on the installed machines. Printers, sold through a separate subsidiary, and telecom equipment are the other main lines.
In one line: A smaller, diversified NCR Voyix with a telecom-equipment history.
Moat: narrow (installed base, customer qualification). Long-standing bank/telecom relationships in Japan support recurring service revenue.
Headquarters: Tokyo, Japan · Founded: 1881 · Employees: 11,925
Size OKI Electric Industry (6703.T) is a Japan Information Technology company (Electronic Equipment/Instruments) with a market value of $1.24B, the 643rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,263 on 6 Nov 2026.
Performance Over six months the shares fell 32.4%, against -14.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue fell 3.8% over the last twelve months (peer median +4.5%); the operating margin is 4.3% (peer median 7.5%).
Valuation It trades at 11.3× forward earnings against a peer median of 29.1× (2nd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.6 points below its cost of capital (11.6% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥423B | ¥422B | ¥452B | ¥422B | ¥369B |
| Revenue growth | — | -7% | +7% | +14% | — |
| Gross profit | ¥104B | ¥105B | ¥113B | ¥105B | ¥86.2B |
| EBITDA | ¥34.1B | ¥34.4B | ¥33.6B | ¥32.9B | ¥14.7B |
| Net income | ¥25.6B | ¥21.5B | ¥12.5B | ¥25.6B | -¥2.80B |
| Free cash flow | ¥22.2B | ¥12.4B | ¥28.8B | ¥12.5B | -¥13.6B |
| Capital expenditure | ¥24.7B | ¥20.8B | ¥24.7B | ¥18.0B | ¥17.9B |
| Total debt | ¥87.8B | ¥99.7B | ¥106B | ¥118B | ¥129B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| OKI Electric Industry 6703.T | $1.24B | -32% | -4% | 4% | 11.3× | 10.1% |
| Nec 6701.T | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% |
| Fujitsu 6702.T | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% |
| NCR Voyix VYX | $1.35B | +17% | -5% | 7% | 9.9× | n/a |
| Glory 6457.T | $1.53B | +16% | -8% | 9% | 12.2× | -8.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6703.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.8% | -5.2% | 4th lowest of 21 |
| 6-month return | -32.4% | -14.6% | 4th lowest of 20 |
| Distance from 52-week high | -43.0% | -40.1% | 10th lowest of 21 |
| Revenue growth (TTM) | -3.8% | +4.5% | 4th lowest of 21 |
| Operating margin | 4.3% | 7.5% | 7th lowest of 21 |
| Forward P/E | 11.3× | 29.1× | 2nd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 10.1% | 2.6% | 4th most demanding of 8 |
| Growth delivered (Del g) | +1.4% | +9.2% | lowest of 8 |
| Hurdle (Req g minus delivered) | +8.7 pp | -7.3 pp | 4th most demanding of 8 |
| ROIC minus cost of capital | -5.6 pp | -1.5 pp | 7th lowest of 21 |
| EV / EBITDA | 7.0× | 40.5× | 2nd cheapest of 6 |
| Net debt / EBITDA | 1.3× | -1.3× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OKI Electric Industry 6703.T | Japan | $1.24B | -32% | -4% | 4% | 11.3× | 10.1% | +1.4% |
| GVS S.p.A GVS.MI | Italy | $1.24B | +35% | -1% | 12% | 20.7× | 14.3% | +3.2% |
| Hunan Zhongke Electric 300035.SZ | China | $1.22B | -42% | +46% | 5% | 20.6× | n/a | n/a |
| Shandong Chunguang Technology 301531.SZ | China | $1.29B | n/a | +7% | 12% | n/a | 58.9% | +4.4% |
| Henan Thinker Automatic Equipment 603508.SS | China | $1.18B | -20% | -1% | 39% | 9.1× | -3.9% | +12.6% |
| Wuhan East Lake High Technology 600133.SS | China | $1.17B | -18% | -3% | 8% | n/a | n/a | n/a |
| Kinpo Electronics 2312.TW | Taiwan | $1.16B | -8% | -7% | 3% | n/a | n/a | n/a |
| Ventec International 6672.TW | Taiwan | $1.15B | +110% | +20% | 13% | 30.6× | n/a | n/a |
| Guangdong High Dream Intellectualized Machinery 300720.SZ | China | $1.38B | -25% | +8% | 6% | n/a | n/a | n/a |
| Shenzhen Clou Electronics 002121.SZ | China | $1.11B | -36% | +40% | -5% | 29.5× | n/a | n/a |
| Shanghai Liangxin Electrical Co 002706.SZ | China | $1.42B | -26% | +6% | 3% | 30.5× | n/a | n/a |
| Gl Tech 300480.SZ | China | $1.44B | -28% | +43% | 13% | 57.6× | n/a | n/a |
| Uni-Trend Technology (China) 688628.SS | China | $1.07B | -34% | +33% | 15% | 29.1× | n/a | n/a |
| Chongqing Chuanyi Automation 603100.SS | China | $1.44B | -4% | +3% | 7% | 14.5× | 2.6% | +9.9% |
| Kinco Automation Shanghai 688160.SS | China | $1.45B | -2% | +46% | 9% | 90.3× | n/a | n/a |
| Zhejiang Dali Technology 002214.SZ | China | $1.45B | -15% | +1% | -68% | n/a | n/a | n/a |
| Henan Yicheng New Energy 300080.SZ | China | $1.05B | -17% | -13% | -21% | n/a | n/a | n/a |
| Asia Optical 3019.TW | Taiwan | $1.04B | -14% | +13% | 10% | 16.2× | 0.1% | +10.9% |
| Amano 6436.T | Japan | $1.50B | -4% | +1% | 11% | 13.7× | -7.6% | +9.2% |
| Hangzhou Kelin Electric 688611.SS | China | $1.51B | +4% | -58% | -32% | 48.1× | n/a | n/a |
| TAIFLEX Scientific 8039.TW | Taiwan | $1.51B | +36% | +3% | 6% | n/a | 28.3% | +3.9% |