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