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Maker of automotive clutches and torque converters, a key supplier for manual and hybrid transmissions.
Maker of automotive clutches and torque converters, a key supplier for manual and hybrid transmissions.
Sells clutches and torque converters to carmakers under programmes tied to specific transmission designs, so volumes follow those vehicles' production, and also supplies replacement parts. Electric vehicles need neither part, so the shift toward them is the long-term pressure.
In one line: A specialized Japanese clutch-systems supplier.
Moat: narrow (customer qualification, process know-how). Long-standing OEM design-in relationships in a specialized driveline-component niche.
Headquarters: Neyagawa, Japan · Founded: 1940 · Employees: 10,970
Size Exedy (7278.T) is a Japan Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.14B, the 682nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,050 on 6 Nov 2026.
Performance Over six months the shares fell 17.4%, against -6.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +10.2%); the operating margin is 7.4% (peer median 6.3%).
Valuation It trades at 11.3× forward earnings against a peer median of 14.6× (6th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points above its cost of capital (6.7% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥305B | ¥304B | ¥310B | ¥308B | ¥286B |
| Revenue growth | — | -2% | 0% | +8% | — |
| Gross profit | ¥64.8B | ¥60.9B | ¥57.7B | ¥51.7B | ¥42.6B |
| EBITDA | ¥36.5B | ¥37.4B | ¥37.3B | ¥35.7B | ¥31.8B |
| Net income | ¥12.2B | ¥13.7B | ¥12.7B | -¥10.0B | ¥4.59B |
| Free cash flow | ¥31.8B | ¥33.4B | ¥23.9B | ¥28.7B | ¥15.3B |
| Capital expenditure | ¥8.15B | ¥8.35B | ¥8.04B | ¥9.48B | ¥12.4B |
| Total debt | ¥72.2B | ¥56.7B | ¥58.0B | ¥31.5B | ¥35.0B |
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 |
|---|---|---|---|---|---|---|
| Exedy 7278.T | $1.14B | -17% | 0% | 7% | 11.3× | -6.9% |
| Aisin 7259.T | $9.78B | -14% | +6% | 4% | 10.0× | -0.3% |
| F.C.C.Co 7296.T | $1.20B | +20% | +10% | 8% | 9.0× | -7.1% |
| Valeo FR.PA | $3.00B | -15% | -2% | 4% | 7.3× | -8.2% |
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 | 7278.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | -2.5% | 6th lowest of 21 |
| 6-month return | -17.4% | -6.9% | 8th lowest of 20 |
| Distance from 52-week high | -19.7% | -30.6% | 7th highest of 21 |
| Revenue growth (TTM) | +0.2% | +10.2% | 6th lowest of 20 |
| Operating margin | 7.4% | 6.3% | 9th highest of 21 |
| Forward P/E | 11.3× | 14.6× | 6th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -6.9% | 6.2% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +6.0% | +11.2% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -12.9 pp | -11.1 pp | 4th least demanding of 12 |
| ROIC minus cost of capital | +0.9 pp | -0.5 pp | 9th highest of 20 |
| EV / EBITDA | 5.1× | 8.6× | 2nd cheapest of 11 |
| Net debt / EBITDA | -0.2× | 1.8× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Exedy 7278.T | Japan | $1.14B | -17% | 0% | 7% | 11.3× | -6.9% | +6.0% |
| Guangzhou Ruili Kormee Automotive Electronic 001285.SZ | China | $1.14B | -22% | +21% | 14% | 17.4× | n/a | n/a |
| KYB 7242.T | Japan | $1.15B | +10% | +11% | 6% | 9.6× | -0.4% | +8.0% |
| Wuxi Zhenhua Auto Parts 605319.SS | China | $1.16B | -18% | +13% | 20% | 14.6× | -4.7% | +16.0% |
| Kuangda Technology 002516.SZ | China | $1.16B | -13% | +3% | 12% | n/a | 9.3% | +9.0% |
| Hl Mando 204320.KS | South Korea | $1.13B | -43% | +2% | 3% | 9.6× | -19.9% | +11.2% |
| Saf-holland SFQ.DE | Germany | $1.11B | +9% | 0% | 8% | 13.2× | 0.9% | +12.6% |
| JOST Werke JST.DE | Germany | $1.11B | +5% | +32% | 7% | 10.8× | 3.0% | +14.1% |
| Zhejiang EV-Tech 301607.SZ | China | $1.18B | -7% | +60% | 6% | 20.3× | 24.2% | +35.3% |
| Fuxin Dare Automotive Parts 300473.SZ | China | $1.10B | +28% | +21% | 5% | 33.5× | 20.8% | +10.0% |
| Zhejiang Wanliyang 002434.SZ | China | $1.19B | -13% | -30% | -10% | 15.5× | n/a | n/a |
| F.C.C.Co 7296.T | Japan | $1.20B | +20% | +10% | 8% | 9.0× | -7.1% | +12.3% |
| Sichuan Chengfei Integration Technology 002190.SZ | China | $1.20B | -24% | +9% | -1% | n/a | n/a | n/a |
| ARB ARB.AX | Australia | $1.08B | +1% | -4% | 16% | 17.0× | 15.7% | +2.4% |
| NASN Intelligent Tech (Zhejiang) 2261.HK | Hong Kong | $1.21B | n/a | +57% | -12% | n/a | n/a | n/a |
| Dauch DCH | United States | $1.07B | -32% | +41% | 3% | 5.5× | n/a | n/a |
| Ruifeng Power 2025.HK | Hong Kong | $1.22B | +29% | +4% | 1% | n/a | n/a | n/a |
| Xiangyang Automobile Bearing 000678.SZ | China | $1.22B | +53% | -3% | -3% | n/a | n/a | n/a |
| SKF India (Industrial) SKFINDUS.NS | India | $1.23B | +9% | n/a | 11% | 33.3× | 36.9% | n/a |
| JBM Auto JBMA.NS | India | $1.24B | -21% | +16% | 9% | n/a | n/a | n/a |
| Zotye Automobile 000980.SZ | China | $1.05B | -35% | -33% | -93% | n/a | 37.5% | -17.1% |