Furuno Electric

Basic Information

Stock Code
6814
Industry
Electrical Equipment
Category Detail
Shipbuilding
Prefecture
Hyogo Prefecture
Establishment Year
May 1951
Listing Year
October 1982
Official Website
https://www.furuno.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Teika, Tri Chemical Laboratories, Japan Steel Works, Furukawa Electric, Japan Engine Corporation, Lotes, Sinfonia Technology, Shibaura Mechatronics, Terasaki Electric Industries, Nitchitsu, Musashi Seimitsu Industry, Tokyo Keiki

Overview

Furuno Electric is a leading Japanese marine electronics manufacturer founded in 1951, boasting global market share with world-first products such as fish finders.

Current Situation

Furuno Electric recorded consolidated sales of approximately ¥126.9 billion, operating profit of approximately ¥13.2 billion, and net profit of approximately ¥11.5 billion for the fiscal year ending February 2025. Its core marine electronics business holds a world market share of about 15%, with strengths in fisheries and shipping. In recent years, it has focused on acquiring the ETC on-board device business and developing healthcare equipment. It maintains market competitiveness through technological innovation and engages in sustainability initiatives such as reducing environmental impact and ocean monitoring systems. Leveraging a diverse customer base in Japan and overseas, it aims for further overseas expansion and product diversification in the medium to long term. In parallel with introducing the latest technologies, it is promoting management efficiency improvements, and stable growth is expected going forward. In 2024, its commercial fish finder was certified as an IEEE Milestone, strengthening its technological credibility.

Trivia

Interesting Facts

  • Fish finder is the product that succeeded in the world's first practical implementation
  • Company's fish finder certified as IEEE Milestone
  • Founded from an electrical shop in a port town
  • Japan's first Doppler sonar development company
  • Record of developing the world's first seabird finder
  • Acquired ETC on-board device business from Mitsubishi Heavy Industries in 2017
  • Partner agreement with B.LEAGUE professional basketball team
  • Contributing to industry digitalization through promotion of fishing boat DX systems
  • Manufactures marine-related measuring instruments across multiple categories
  • Long-established electronics manufacturer headquartered in Nishinomiya City

Hidden Connections

  • IEEE Milestone certification is an exceptional honor for a Japanese electronics manufacturer
  • Strengthening business development in ITS field in collaboration with Mitsubishi Heavy Industries Group
  • Collaborating with domestic navigation-related companies to co-create safe navigation technologies
  • Maintaining cooperative relationships with local universities and research institutions for ocean technology development
  • Founders' brothers featured in famous NHK 'Project X' episode
  • Furuno Electric's fish finder technology is a foundational technology supporting global fisheries
  • Diverse product deployments spanning from marine to healthcare fields
  • Experienced transition from former Osaka Securities Exchange to Tokyo Stock Exchange Prime Market

Future Outlook

Growth Drivers

  • Increasing demand for measuring equipment due to rising ocean environment conservation needs
  • Expansion of electronic equipment demand through DX promotion centered on fishing boats
  • Strengthening of global regulations for sustainable marine resource utilization
  • Growth markets such as ETC on-board devices due to advancement in ITS field
  • Growth of new products like ultrasonic equipment in healthcare field
  • Strengthening of system solutions utilizing cloud and IoT
  • Demand for high-function electronic equipment accompanying stricter ship safety and environmental regulations
  • Diversity management and strengthening of technical talent development
  • Growing demand for environmentally compatible products domestically and internationally
  • Demand for traffic-related systems accompanying smart city development

Strategic Goals

  • Grow marine electronic equipment to over 20% world share
  • Expand DX and ITS-related business sales to 30% of total
  • Achieve 60% sales ratio of environmentally considerate products
  • Expand earnings in medical and healthcare product fields
  • Acquire high ESG scores based on sustainability evaluations
  • Expand products and services utilizing IoT and AI technologies
  • Strengthen sales and service networks domestically and internationally
  • Deepen coexistence with local communities and social contribution activities
  • Achieve product energy savings and improved recycling rates
  • Promote global talent development and diverse work styles

Business Segments

Marine Electronic Equipment

Overview
Provides globally recognized marine electronic equipment, pursuing safety and efficiency.
Competitiveness
Approx. 15% world share in fish finders, highly reliable product lineup
Customers
  • Fishing companies
  • Shipping companies
  • Shipyards
  • Sea transport companies
  • Government ocean research institutes
  • Port authorities
  • Defense agencies
  • Ocean energy operators
  • Ship repair and maintenance companies
  • Ship owners' associations
Products
  • Fish finders
  • Radar systems
  • Sonar devices
  • Marine GPS
  • Autopilot equipment
  • Wireless communication devices
  • Speed logs
  • Current meters
  • Coastal monitoring systems
  • Weather observation systems

ITS Equipment and Traffic Systems

Overview
Provides high-function ITS products and services for advanced road traffic systems.
Competitiveness
Acquired domestic ETC on-board device manufacturing and sales business from Mitsubishi Heavy Industries
Customers
  • Road administrators
  • Public transportation
  • Transport companies
  • Local governments
  • Construction companies
Products
  • ETC on-board devices
  • Traffic sensor systems
  • Traffic information services
  • Vehicle basic information terminals

Medical and Healthcare Equipment

Overview
Provides innovative and high-precision testing equipment for the medical industry.
Competitiveness
High-precision measurement and reliability based on ultrasonic technology
Customers
  • Hospitals
  • Clinics
  • Health check centers
  • Nursing homes
  • Medical equipment dealers
Products
  • Ultrasonic bone density measurement devices
  • Biochemical automated analyzers

Ocean Survey and Environmental Monitoring

Overview
Contributes to safety and environmental conservation through ocean environment data collection.
Competitiveness
High-precision observation equipment and years of technological accumulation
Customers
  • Research institutions
  • Government agencies
  • Environmental consultants
  • Energy companies
  • Port authorities
Products
  • Current meters
  • Coastal monitoring systems
  • Weather observation systems
  • Ground displacement observation systems

System Integration

Overview
Implements system proposals and operational support tailored to customer needs.
Competitiveness
Consistent system construction linked with marine equipment
Customers
  • Ship owners
  • Fishery associations
  • Port authorities
  • Government agencies
  • Shipyards
Products
  • Navigation management systems
  • Fishing boat management DX systems
  • ITS integrated management platforms

Competitive Advantage

Strengths

  • World-first fish finder development track record
  • Approx. 15% world share in marine electronic equipment
  • Diverse product portfolio
  • High technological development capabilities
  • Sales and service networks spanning Japan and overseas
  • Long-standing industry trust
  • Advanced observation and measurement technologies
  • Extensive lineup of marine communication equipment
  • Acquisition of ETC on-board device business
  • Deployment of system solutions

Competitive Advantages

  • History of world-first and industry-first innovative product developments
  • Product lineup adaptable to diverse applications
  • Stable supply through global network
  • Possession of advanced sonar and radar technologies
  • Reliability from ISO and other quality certifications
  • High-technological R&D structure
  • Customer-close customization proposal capabilities
  • Enhanced competitiveness through transfer of ETC business from Mitsubishi Heavy Industries
  • Flexibility corresponding to multiple industries
  • Growth potential in healthcare field

Threats

  • Intensifying market competition leading to price wars
  • Risks from global political and economic fluctuations
  • Threats from technological innovations by emerging companies
  • Increased product adaptation costs due to stricter environmental regulations
  • Profit impacts from exchange rate fluctuations
  • Demand fluctuations in fisheries due to declining marine resources
  • Growing cybersecurity risks
  • Supply chain uncertainties from COVID-19, etc.
  • Delays in responding to rapid IT advancements
  • Challenges in securing engineers due to labor shortages

Innovations

2024: Fish Finder IEEE Milestone Certification

Overview
The world's first commercial fish finder receives recognition from an international academic society.
Impact
Enhances international credibility of corporate brand

2023: Expansion of Fishing Boat DX Systems

Overview
Strengthening promotion activities for digital transformation systems for fisheries.
Impact
Contributes to customer efficiency and revenue growth

2022: Advancement of ETC 2.0 On-Board Devices

Overview
Began manufacturing ETC 2.0 on-board devices equipped with the latest ITS technology.
Impact
Improves competitiveness in domestic market

2021: Development of New Ultrasonic Bone Density Measurement Device

Overview
Achieved higher precision in medical ultrasonic equipment and market expansion.
Impact
Expands share in medical field

2020: Development of Coastal Monitoring System

Overview
Introduced new system enabling ocean environment monitoring.
Impact
Contributes to environmental conservation projects

2024: Trial Operation of AI-Equipped Fishery Support System

Overview
Started verification tests for fishery efficiency system using AI technology.
Impact
Expected significant improvement in fishery productivity

2023: Development of Low-Power Consumption GPS Module

Overview
Achieved improved energy efficiency in satellite positioning systems.
Impact
Strengthens competitiveness in mobile device market

2022: Prototype of Next-Generation Communication Equipment

Overview
Began R&D on 5G-compatible communication equipment for ships.
Impact
Builds foundation for future high-speed communication market development

2021: Provision of IoT-Linked Ship Management System

Overview
Realized real-time management through cloud linkage.
Impact
Improves customer convenience and operational efficiency

2020: Launch of New Current Meter

Overview
Introduced product with higher precision current measurement than previous models.
Impact
Contributes to increased market share

Sustainability

  • Development and provision of ocean environment conservation technologies
  • Promotion of energy-saving products
  • Expansion of recyclable parts usage
  • Setting targets for reducing greenhouse gas emissions at business sites
  • Active participation in local environmental protection activities
  • Product development for safe navigation and reduced environmental impact
  • Strengthening regional collaboration through social contribution activities
  • Promotion of sustainable material procurement
  • Diversity promotion and workplace environment improvements
  • Compliance with environmental laws and voluntary environmental protection activities