Maxell

Basic Information

Stock Code
6810
Industry
Electrical Equipment
Category Detail
Information & Communication Equipment
Prefecture
Tokyo
Establishment Year
September 1960
Listing Year
March 2014
Official Website
https://www.maxell.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Nippon Densetsu, Iwaki Pump, Anritsu, Almedio

Overview

Maxell is an electrical equipment manufacturer founded in 1960, leading the Japanese market in batteries and magnetic tapes, with strengths in diversified industrial materials and beauty care devices.

Current Situation

Maxell recorded consolidated sales of approximately 145 billion yen in FY2020, but posted a net loss of about 10.4 billion yen. Its mainstay battery and recording media businesses continue to face tough conditions due to intensifying competition, though it maintains strengths in specific products like coin batteries. The company is advancing business restructuring through production efficiency improvements and absorption-type mergers of subsidiaries. It is also diversifying into beauty home appliances and health/medical fields, focusing on new product development and OEM expansion. It has been continuously certified as a Health Management Excellence Corporation, working to improve sustainability. After becoming independent from Hitachi, Ltd., it is pursuing management autonomy, with mid-to-long-term strategies centered on developing domestic and international customers and entering new business areas. In recent years, it has focused on technological innovations such as AI-based cognitive impairment detection technology and longer-life battery products to respond to the competitive environment. It is also expanding its customer base through diverse sales channels.

Trivia

Interesting Facts

  • Maxell's company name derives from 'maximum cell' meaning the highest performance dry battery
  • Commercialized Japan's first compact cassette tape in 1966
  • Has experience of full subsidiarization by Hitachi, Ltd. and re-independence
  • TV commercials for cassette tapes frequently used songs by famous artists
  • Known for iVDR media launch and video recording with BD recorders
  • Has long held market share in dry batteries and magnetic tapes
  • Successor to Nitto Denko's dry battery and magnetic tape business
  • Management highly evaluated as a continuous Health Management Excellence Corporation
  • Maintained steady performance in OEM business even after independence from Hitachi Group
  • First in Japan to commercialize silver oxide batteries and alkaline manganese dry batteries in battery field
  • Also deploys own brands in beauty device field
  • Strengthened corporate structure through absorption mergers of multiple subsidiaries
  • One of the companies supporting Japan's magnetic tape industry history
  • Enhancing resilience to market fluctuations through product diversification
  • Also contributes as sponsor to sports events and local activities

Hidden Connections

  • Had long-term capital and technological partnership with Hitachi, Ltd.
  • Once part of Hitachi Group, also handled OEM for Hitachi brand products
  • Holds Izumi Seiki Mfg. Co., Ltd. under its umbrella through joint investments with multiple related companies
  • Deepened relationship with competitor Sony's music label through tie-up commercials
  • Expanded business in collaboration with public institutions such as Japan Policy Finance Corporation
  • Positioned as an advanced company actively introducing AI technology in medical and health fields
  • Had connections with Hitachi Group, which has fish-related business for securing natural resources
  • Served as recipient of technological know-how transfer in battery and recording media fields in the industry

Future Outlook

Growth Drivers

  • Expansion of high-performance medical and health device market
  • Increasing demand for environmentally friendly and rechargeable batteries
  • Promotion of new product development using AI technology
  • Evolution of next-generation optical materials and component technologies
  • Increasing OEM demand domestically and internationally
  • Re-growth of beauty home appliance market
  • Strengthening of sustainable manufacturing processes
  • Brand strengthening in global markets
  • Promotion of diverse sales channel utilization
  • Expansion of industrial electronic component sales
  • Commercialization of new material technologies
  • Continued promotion of health management

Strategic Goals

  • Expand market share in coin and rechargeable batteries
  • Double sales in medical and health-related device fields
  • Create new businesses using AI and IoT technologies
  • Enter domestic top 3 in beauty device market
  • Reduce environmental impact and CO2 emissions by 50%
  • Maximize group synergies leveraging holding company structure
  • Achieve over 40% sales ratio from overseas markets
  • Maintain and strengthen Health Management Excellence Corporation certification
  • Achieve over 80% sustainable material procurement rate
  • Improve productivity through company-wide DX promotion

Business Segments

Electronic Components Supply

Overview
Supplies diverse electronic components to major industries, providing high quality and reliability.
Competitiveness
Proprietary technological capabilities in high-performance batteries and advanced optical components
Customers
  • Home Appliance Manufacturers
  • Automotive Manufacturers
  • IT Companies
  • Industrial Machinery Manufacturers
  • Medical Equipment Manufacturers
  • Communication Equipment Manufacturers
Products
  • Coin Batteries
  • Lithium-Ion Battery Packs
  • Magnetic Cards
  • IC Cards
  • Optical Lenses
  • Electronic Films

Industrial Materials and Adhesives

Overview
Business supplying high-quality adhesives and materials to the manufacturing industry.
Competitiveness
Applied technology for fine particle materials and diverse adhesive product lineup
Customers
  • General Manufacturing
  • Electronic Component Manufacturers
  • Chemical Manufacturers
  • Automotive-Related Companies
  • Building Materials Manufacturers
Products
  • Adhesives
  • Heat-Resistant Tapes
  • Pressure-Sensitive Tapes
  • Industrial Films

OEM/ODM Business

Overview
Manufactures and provides products for client company brands via OEM.
Competitiveness
Long years of production technology and high-quality management system
Customers
  • Domestic and International Home Appliance Manufacturers
  • Video Equipment Manufacturers
  • Beauty Device Manufacturers
  • Information and Communication Equipment Manufacturers
Products
  • BD/DVD Recorders
  • Battery Products
  • Beauty Home Appliances
  • Video Recording Media

Health and Medical Equipment Related

Overview
Develops and supplies advanced products for the health and medical fields.
Competitiveness
Innovative health management solutions through AI technology introduction
Customers
  • Medical Institutions
  • Nursing Facilities
  • Fitness Companies
  • Health Management Services
Products
  • Cognitive Impairment Detection Devices
  • Medical Batteries
  • Health Monitor Devices
  • Rehabilitation Equipment

Beauty Device Business

Overview
Deploys high-performance beauty home appliances, including collaboration with Hitachi brand.
Competitiveness
Product development combining design and usability
Customers
  • Retail Chains
  • Beauty Salons
  • Home Appliance Retailers
  • Mail Order Businesses
Products
  • Electric Shavers
  • Hair Dryers
  • Face Care Devices
  • Beauty Devices

Video Equipment and Digital Device Components

Overview
Handles manufacturing and supply of parts for video and digital devices.
Competitiveness
Manufacturing technology for high-quality video application parts
Customers
  • Broadcasting Stations
  • Video Production Companies
  • Home Appliance Manufacturers
  • Information and Communication Companies
Products
  • Projector Parts
  • BD Recorder Parts
  • Video Recording Media
  • Optical Digital Cables

Automotive-Related Batteries

Overview
Provides environmentally friendly automotive batteries, contributing to the automotive industry.
Competitiveness
Battery technology balancing safety and high performance
Customers
  • Automotive Manufacturers
  • Automotive Parts Suppliers
  • Motorcycle Manufacturers
Products
  • Automotive Lithium-Ion Batteries
  • Nickel-Metal Hydride Batteries
  • Storage Battery Packs

Information and Communication Equipment Materials

Overview
Provides card products leveraging advanced identification technology.
Competitiveness
Development capabilities for highly reliable security cards
Customers
  • Telecom Carriers
  • IT Companies
  • Electronic Parts Trading Companies
Products
  • IC Cards
  • Magnetic Cards
  • Electronic Parts for Communication Devices

Industrial Electronic Materials

Overview
Conducts R&D and supply of special materials for industry.
Competitiveness
Fine particle material technology and applicability
Customers
  • Electronic Device Manufacturers
  • Manufacturing Industry
Products
  • Electronic Films
  • Functional Materials

Logistics Solutions

Overview
Deploys efficient logistics and sales support.
Competitiveness
Optimal logistics design capabilities based on long experience
Customers
  • Retail Industry
  • Manufacturing Industry
  • Distribution Companies
Products
  • Product Logistics Management Services
  • Sales Promotion Materials

After-Sales Service and Support

Overview
Comprehensive support system supporting long-term product use.
Competitiveness
Prompt response and high customer satisfaction
Customers
  • Corporate Customers
  • General Consumers
Products
  • Maintenance Services
  • Technical Support
  • Repair Services

Education and Awareness Activities

Overview
Contributes to technology education and product understanding promotion.
Competitiveness
Highly specialized instructors and curriculum
Customers
  • Educational Corporations
  • Corporate Training
  • Local Communities
Products
  • Technical Training
  • Product Safety Seminars

Competitive Advantage

Strengths

  • Proprietary fine particle material technology
  • High-performance coin battery development capabilities
  • Diversified business deployment
  • OEM production system strengths
  • Growth in health and medical device fields
  • Long history and reliability of the brand
  • High-quality recording media technology
  • Thick technological foundation from Hitachi Group era
  • Strong domestic customer base
  • Promotion of sustainable management
  • Active M&A and business restructuring
  • Utilization of diverse sales channels
  • Rapid development in response to customer needs
  • Solid financial base
  • Collaboration system with cutting-edge technologies

Competitive Advantages

  • Domestic top-class manufacturing technology and brand power in coin batteries
  • Differentiation in high-quality optical components and recording media products
  • Market launch of new cognitive impairment detection products using AI technology
  • Management flexibility and rapid decision-making achieved after independence from Hitachi Group
  • Diverse product lineup spanning multiple industries and strong OEM business
  • Proprietary development capabilities in functional materials market such as adhesives
  • Provision of durable industrial batteries for communications and medical fields
  • Customer-close customer support system
  • Improved reliability through certification as Environment and Health Management Excellence Corporation
  • R&D system promoting continuous improvement of products and services
  • Quality assurance system compliant with international standards
  • Ongoing efforts in production efficiency and cost reduction
  • Wide-area sales network through diverse sales channels
  • Accumulated trust from long-term partnership with Hitachi, Ltd.
  • Risk diversification and stable management through diversification

Threats

  • Shrinking dry battery and recording media markets
  • Low-price offensives from overseas competitors
  • Speed of technological innovation by new entrants
  • Decline in demand for physical media due to digitalization
  • Rising raw material prices and procurement risks
  • Impact of exchange rate fluctuations on profit margins
  • Increased manufacturing costs due to stricter environmental regulations
  • Risk of customer loss due to high OEM dependency
  • Risk of regulatory changes in health and medical device fields
  • Delays in R&D for emerging technologies
  • Intensifying competition with major home appliance manufacturers
  • Supply chain disruption risks

Innovations

2024: Development of Cognitive Impairment Detection AI Device

Overview
Commercialized cognitive impairment detection device using AI technology to analyze finger movements.
Impact
Market share expansion through new product deployment in medical field.

2023: Introduction of Long-Life Technology for Coin Batteries

Overview
Practicalized new electrode material extending usage time by 11%.
Impact
Enhanced competitiveness of main products and improved customer satisfaction.

2022: Development of New Medical Lithium Battery

Overview
Developed compact lithium battery with improved safety, specialized for medical device applications.
Impact
Contributes to expanded transactions with medical equipment manufacturers.

2021: Continuation of Health Management Excellence Corporation Certification

Overview
Promotes health management and supports corporate value improvement through continuous certification.
Impact
Improved employee motivation and corporate image.

2020: Launch of New Beauty Device Series

Overview
Announced new lineup of high-function beauty devices and hair care products.
Impact
Brand strengthening and sales increase in consumer market.

Sustainability

  • Acquired Health Management Excellence Corporation 'White 500' certification from 2020 to 2024
  • CO2 reduction through introduction of energy-saving production equipment
  • Active promotion of environmentally friendly material use
  • Strengthened waste recycling system and waste reduction
  • Implementation of environmental conservation activities in collaboration with local communities
  • Promotion of women's active roles and diversity management
  • Thorough safety and health management and workplace environment improvement
  • Maintenance of Environmental Management System ISO14001 certification
  • Formulation of sustainable procurement standards
  • Expansion of regional social contributions through CSR activities
  • Improvement of environmental awareness through in-house education
  • Packaging improvements for plastic reduction