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Japanese wholesale distributor of electrical materials, wiring devices and HVAC/plumbing equipment through the Denki Shizai network.
Japanese wholesale distributor of electrical materials, wiring devices and HVAC/plumbing equipment through the Denki Shizai network.
In one line: An electrical-supplies wholesaler akin to Wesco International.
Moat: narrow (distribution, scale). Dense nationwide branch network built over decades gives logistics/inventory-availability advantages to contractors.
Headquarters: Osaka, Japan · Founded: 1959 · Employees: 2,230
Size Inaba Denkisangyo (9934.T) is a Japan Industrials company (Wholesale Distributors) with a market value of $1.82B, the 512th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,542 on 6 Nov 2026.
Performance Over six months the shares fell 3.7%, against +3.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 14.6% over the last twelve months (peer median +6.3%); the operating margin is 7.9% (peer median 6.7%).
Valuation It trades at 0.4× enterprise value to sales against a peer median of 1.4× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.0 points above its cost of capital (6.5% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥454B | ¥417B | ¥384B | ¥345B | ¥317B |
| Revenue growth | — | +9% | +11% | +9% | — |
| Gross profit | ¥85.8B | ¥72.6B | ¥65.1B | ¥57.1B | ¥52.3B |
| EBITDA | n/a | ¥31.7B | ¥27.3B | ¥23.3B | ¥20.5B |
| Net income | ¥27.1B | ¥23.4B | ¥18.8B | ¥15.6B | ¥15.4B |
| Free cash flow | n/a | ¥22.1B | ¥22.2B | ¥13.7B | ¥1.31B |
| Capital expenditure | n/a | ¥6.09B | ¥2.66B | ¥1.96B | ¥1.79B |
| Total debt | ¥244M | ¥343M | ¥259M | ¥447M | ¥434M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Inaba Denkisangyo 9934.T | $1.82B | -4% | +15% | 8% | 0.4× | -11.9% |
| Yamazen 8051.T | $978M | +13% | +7% | 2% | 0.2× | -6.3% |
| WESCO International WCC | $14.2B | -18% | +14% | 6% | 0.8× | 10.4% |
| Yuasa 8074.T | $789M | -1% | +5% | 3% | 0.2× | -14.7% |
| Trusco Nakayama 9830.T | $958M | +6% | +10% | 7% | 0.6× | n/a |
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 | 9934.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.5% | +0.9% | 4th lowest of 21 |
| 6-month return | -3.7% | +3.6% | 9th lowest of 21 |
| Distance from 52-week high | -21.2% | -23.7% | 9th highest of 21 |
| Revenue growth (TTM) | +14.6% | +6.3% | 4th highest of 21 |
| Operating margin | 7.9% | 6.7% | 8th highest of 19 |
| EV / Sales | 0.4× | 1.4× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -11.9% | 6.6% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +8.5% | +7.6% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | -20.4 pp | -6.2 pp | 5th least demanding of 18 |
| ROIC minus cost of capital | +14.0 pp | +0.3 pp | 3rd highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Inaba Denkisangyo 9934.T | Japan | $1.82B | -4% | +15% | 8% | 0.4× | -11.9% | +8.5% |
| Happinet 7552.T | Japan | $1.82B | +133% | +19% | 3% | 0.6× | -4.1% | +11.1% |
| Tibet Huayu Mining 601020.SS | China | $1.83B | -48% | -22% | 23% | 9.4× | n/a | n/a |
| Pengxin International Mining 600490.SS | China | $1.85B | -32% | -20% | n/a | 2.1× | 6.6% | -17.2% |
| Jiangxi Tungsten Rare and Precious Equipment 600397.SS | China | $1.86B | -13% | -92% | n/a | 40.7× | n/a | n/a |
| Travis Perkins TPK.L | United Kingdom | $1.86B | +28% | 0% | 3% | 0.4× | 8.5% | +4.3% |
| AGTech 8279.HK | Hong Kong | $1.78B | +109% | +24% | 8% | 10.2× | -14.9% | +36.3% |
| Arteche Lantegi Elkartea ART.MC | Spain | $1.77B | -36% | +11% | 14% | 3.1× | 7.2% | +13.9% |
| ARE 5857.T | Japan | $1.89B | +1% | +38% | 7% | 0.8× | 2.0% | +29.4% |
| Dalrymple Bay Infrastructure DBI.AX | Australia | $1.92B | +6% | +11% | 29% | 5.5× | 7.8% | +104.8% |
| Anhui Xinhua Media 601801.SS | China | $1.72B | -3% | -16% | 4% | 0.3× | n/a | n/a |
| Norinco International Cooperation 000065.SZ | China | $1.72B | -23% | -21% | 9% | 1.0× | -5.1% | +1.1% |
| BIC Cameras 3048.T | Japan | $1.94B | +10% | +7% | 4% | 0.3× | -8.2% | +4.5% |
| Currys CURY.L | United Kingdom | $1.97B | +16% | +6% | 2% | 0.2× | 4.3% | -2.2% |
| Shanghai Xinhua Media 600825.SS | China | $2.03B | +118% | +1% | -1% | 8.4× | 44.5% | +2.3% |
| Distribution Solutions DSGR | United States | $1.62B | +27% | +6% | 4% | 1.2× | 15.5% | +41.3% |
| Hillman Solutions HLMN | United States | $1.62B | +6% | +6% | 6% | 1.6× | 17.9% | +2.6% |
| Xinjiang Zhongtai Chemical 002092.SZ | China | $1.57B | -41% | +7% | 3% | 1.4× | -4.2% | -19.5% |
| DXP Enterprises DXPE | United States | $2.18B | -10% | +11% | 9% | 1.3× | 6.6% | +14.9% |
| Electrolux Professional EPRO-B.ST | Sweden | $1.52B | +20% | -4% | 10% | 1.4× | 4.9% | +10.9% |
| ZheJiang Dong Ri 600113.SS | China | $1.48B | -46% | -1% | 16% | 13.1× | 38.5% | +7.6% |