NF Holdings

Basic Information

Stock Code
6864
Industry
Electrical Equipment
Category Detail
Commercial & Industrial Machinery
Prefecture
Kanagawa Prefecture
Establishment Year
April 1959
Listing Year
April 1990
Official Website
https://www.nfhd.co.jp/jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Rigaku Holdings , Nihon Rad , HPC Systems , Anritsu , AKIBA , Yokogawa Electric , Azbil , Horiba , Hioki , JEOL , Shimadzu , Topcon , Riken Keiki

Overview

NF Holdings is an electrical equipment manufacturer established in 1959, with strengths in analog circuit technology, demonstrating a strong presence in the industry through high technological capabilities centered on industrial power supplies and electronic measuring instruments.

Current Situation

NF Holdings achieved consolidated sales of approximately ¥12 billion and net profit of approximately ¥950 million in the fiscal year ended March 2019, possessing a stable revenue base. Its main business is the development and manufacture of industrial AC/DC power supplies and electronic measuring instruments, earning high trust in industrial sectors both in Japan and overseas. Leveraging advanced analog circuit technology, it provides a diverse range of electronic equipment including custom products, differentiating itself from competitors. Even after transitioning to a holding company structure, it collaborates with group companies to promote business efficiency and diversification. It also focuses on environmentally friendly product development and quality management, establishing a framework to meet customer technical needs. Moving forward, it positions technological innovation in electronic equipment and expansion in the global market as growth engines, aiming for medium- to long-term profit growth. Improvements in logistics and services, as well as strengthening the business foundation through overseas bases, are progressing. Amid the increasing demand for high-performance electronic equipment driven by advancements in industrial sectors in the 2020s, it will pursue active investments.

Trivia

Interesting Facts

  • NF is named after Negative Feedback
  • Over 60 years of history accumulating analog circuit technology
  • Headquartered in Kohoku-ku, Yokohama, Kanagawa Prefecture
  • Transitioned to holding company structure in 2020
  • Has affiliate in Shanghai, China, advancing overseas expansion
  • Offers a wide lineup of electronic measuring instruments
  • Custom HIC design is one of the key pillars of business
  • Representative Japanese manufacturer specialized in analog technology
  • Belongs to manufacturing machinery sector as analyzed by Nikkei data
  • Competitors include Shimadzu, Yokogawa Electric, etc.

Hidden Connections

  • Optimized role allocation among related subsidiaries through holding company reorganization
  • Supported by Tokyo Small and Medium Enterprise Investment in terms of capital as one of major shareholders
  • Strong ties with Shanghai affiliate for China market expansion
  • Analog circuit technology utilized across multiple fields as foundational technology for industrial machinery
  • Actively participates in local business network in Kohoku-ku, Yokohama
  • Advancing corporate governance enhancements following holding company transition
  • Proprietary technologies built over years highly evaluated in transactions with foreign companies
  • Group affiliates enable seamless handling from product development to sales

Future Outlook

Growth Drivers

  • Expanding demand for high-precision measuring instruments in industries domestically and abroad
  • High value-added evolution of electronic power supplies with IoT and smart factory adoption
  • Strengthening product rollout in overseas markets, especially Asia
  • Increasing demand for custom industrial electronic equipment
  • Development of energy-efficient products in response to stricter environmental regulations

Strategic Goals

  • Expand global market sales ratio to over 30%
  • Increase custom product sales to 40% of total
  • Enrich lineup of energy-efficient and environmentally friendly products
  • Increase R&D investment to 10% of annual sales
  • Achieve organizational DX and significant production efficiency improvements

Business Segments

Industrial Electronic Equipment Development

Overview
Develops and provides high-performance power supplies and measuring instruments for industrial applications.
Competitiveness
Advanced analog circuit technology and custom response capabilities
Customers
  • Manufacturing companies
  • Electrical equipment manufacturers
  • Research institutions
  • Semiconductor-related companies
  • System integrators
  • Universities and engineering research institutes
Products
  • Industrial AC power supplies
  • Electronic measuring devices
  • Programmable power supplies
  • Custom HIC design
  • Function devices

Technical Consulting and Services

Overview
Provides technical consulting to support customer product development.
Competitiveness
Specialized expertise and extensive development track record
Customers
  • Electronic equipment development companies
  • Manufacturing technical departments
  • R&D centers
Products
  • Technical support services
  • System design support
  • Product evaluation services

Sales and Support via Overseas Bases

Overview
Expands product sales and technical support overseas, centered on China.
Competitiveness
Rapid response through collaboration with local subsidiaries
Customers
  • Overseas manufacturing companies
  • Local sales agents
  • Overseas research institutions
Products
  • Electronic measuring instruments
  • Power supplies
  • Technical support

Competitive Advantage

Strengths

  • Advanced analog circuit design technology
  • Strong capability to handle diverse custom products
  • Solid financial base
  • Broad customer base domestically and internationally
  • Group synergies with consolidated subsidiaries
  • High product quality and reliability
  • Expertise in niche industry sectors
  • Customer closeness through combined technology services
  • Wide lineup of electronic measuring instruments
  • Stable workforce and specialized personnel

Competitive Advantages

  • Unique technological strength centered on analog circuits provides competitive edge
  • Flexible product development system responsive to customer needs, such as custom HICs
  • Efficient management and resource allocation under holding company structure
  • Improved cost competitiveness through overseas bases
  • Stable transactions based on long-term customer relationships
  • Ability to apply products across diverse industrial sectors
  • Added value through combined technical consulting
  • Market trust gained via continuous product quality improvements
  • High integration of R&D and manufacturing facilities
  • Collaboration system with investment support for SMEs

Threats

  • Component supply risks due to semiconductor shortages
  • Market share erosion from competitors' technological innovations
  • Profit pressure from exchange rate fluctuations
  • Impact of global economic uncertainty
  • Intensified market competition from new entrants
  • Cost increases from stricter regulations
  • Delays in responding to rapid technological trend changes
  • Disruption to overseas operations from geopolitical risks
  • Declining demand from shrinking domestic manufacturing
  • Technology succession issues from talent outflow and hiring difficulties

Innovations

2023: Development of High-Performance Programmable Power Supply

Overview
Launched a programmable controlled power supply device with multifunctional capabilities for industrial use.
Impact
Drives adoption expansion across industries and sales growth

2022: Launch of New Region-Specific Electronic Measuring Instrument Model

Overview
Developed custom measuring instruments tailored to needs in specific industrial sectors.
Impact
Improved market share and customer satisfaction

2021: Expansion of Overseas Production Bases

Overview
Established new production lines at affiliate in Shanghai to enhance cost competitiveness.
Impact
Improved production efficiency and shortened lead times

2020: Transition to Holding Company Structure and Organizational Reform

Overview
Organizational restructuring aimed at efficient group management and business diversification.
Impact
Streamlined operations and flexible business investments

Sustainability

  • Promotion of energy-efficient product designs and reduction of environmental impact
  • Acquisition of ISO14001 environmental management system certification
  • Promotion of proper recycling of discarded electronic components
  • Strengthening of occupational health and safety activities
  • Collaboration with local communities on environmental conservation efforts