Mikuni
Basic Information
- Stock Code
- 7247
- Industry
- Transportation Equipment
- Category Detail
- Auto Parts
- Prefecture
- Tokyo
- Establishment Year
- October 1948
- Listing Year
- October 1961
- Official Website
- https://www.mikuni.co.jp/
- TSE Information
- TSE Information
- Yahoo! Finance
- Yahoo! Finance
- Other Companies
- ES, Riken NPR, TPR, Nittan, Denso, Tokyo Radiator Manufacturing, Tirado, Univance, Muro Corporation, Aisan Industry, Meiwa Industrial, Fujioze X, Ohashi Technica
Overview
Mikuni is a Japanese transportation equipment manufacturer founded in 1948. It plans and manufactures fuel injection parts for four-wheeled and two-wheeled vehicles along with a variety of related products, deploying them both in Japan and overseas as a long-established company.
Current Situation
In the fiscal year ended March 2022, Mikuni achieved consolidated net sales of approximately 80.7 billion yen and operating profit of approximately 3.3 billion yen. It has strengths in fuel injection-related parts and maintains a stable market share in the four-wheeled and two-wheeled vehicle markets. It also operates in the aerospace and welfare equipment sectors, working on business diversification. The company invests heavily in research and development, promoting technological innovation centered on its R&D base in Odawara, and is expanding into overseas markets. Although it transitioned from the Prime Market to the Standard Market, it maintains solid management. Moving forward, it plans to focus on EV parts and environmentally friendly technologies to achieve sustainable growth. While competing with major automotive parts manufacturers, it leverages its strengths as an independent company to meet diverse customer needs. It is also actively expanding its business in welfare vehicle modifications and fulfilling its social responsibilities. With a stable financial foundation, it continues to invest in new fields.
Trivia
Interesting Facts
- Has a history of acquiring manufacturing rights for Amal and Gallery carburetors in 1932.
- Rare case where a former president of its Chinese subsidiary was sentenced to prison for trade secret infringement.
- Promotes Auto Box device for welfare vehicle modifications using wheelchair models.
- Deploys fuel combustion heaters (Eberspächer products) across all regions in Japan.
- Entering aircraft parts field, also developing for small unmanned aircraft such as drones.
- Opened Paris branch in 2019 to strengthen European market development.
- High market share not only in four-wheeled vehicles but also in fuel injection parts for two-wheeled vehicles.
- Independent manufacturer consistently focusing on fuel injection technology since its founding.
- Transitioned to Tokyo Stock Exchange Standard Market in October 2023.
- Conducted product displays using actual disabled models at the International Welfare Equipment Exhibition.
Hidden Connections
- Established a joint venture for importing and selling German Eberspächer products in Japan.
- Has built long-term trust relationships with domestic two-wheeled and four-wheeled manufacturers.
- Collaborates with disability support models for promotion of welfare vehicle-related products.
- Multiple banks are major shareholders, strengthening its financial foundation.
- Aerospace-related business serves as a foundation for entering the emerging drone market.
- Holds patented technology for proprietary design parts such as intake modules.
- Collaborates with related stock names like Univance as product supply destinations.
- Implements efficient technology deployment in R&D and production through collaboration between major domestic bases.
Future Outlook
Growth Drivers
- Demand for new technologies in fuel-related for EV and hybrid vehicles
- Expansion of aerospace parts market and drone demand
- Market growth in welfare and nursing care products
- Acceleration of investments in environmentally friendly products
- Global market business expansion strategy
- Expansion of applications for advanced electronic control technology
- Demand for energy-saving products due to government environmental regulations
- New product development in small and medium-sized machinery fields
- Enhanced cost competitiveness through production efficiency improvements
- Expanded utilization of diverse sales channels
- Increased demand for welfare equipment due to aging society
- Improved business efficiency through digitalization
Strategic Goals
- High-performance enhancement and environmental adaptation of fuel injection-related products
- Doubling sales in the aerospace field
- Achieving top domestic share in welfare vehicle-related business
- Achieving carbon neutrality in manufacturing processes
- Establishment and sales expansion of new EV-related businesses
- Strengthening global sales network
- Building continuous investment system for cutting-edge technologies
- Coexistence with local communities and promotion of sustainable CSR
- Promoting employee diversity and strengthening talent development
- Product and service innovation through digital technology
Business Segments
Parts Supply to Automobile Manufacturers
- Overview
- Supplies fuel injection-related parts and engine auxiliary equipment to four-wheeled and two-wheeled automobile manufacturers.
- Competitiveness
- Technical flexibility and high-quality manufacturing unique to independent companies
- Customers
-
- Domestic Four-Wheeled Vehicle Manufacturers
- Domestic Two-Wheeled Vehicle Manufacturers
- Overseas Automobile Manufacturers
- Automotive Parts Trading Companies
- Products
-
- Fuel Injection Systems
- Intake Modules
- Vacuum Pumps
- Electronic Control Devices
- Fuel Pumps
Aerospace Industry Parts
- Overview
- Advanced business field involving development and manufacturing of parts for aerospace equipment.
- Competitiveness
- High-precision manufacturing technology and aircraft parts certification
- Customers
-
- Aircraft Manufacturers
- Aircraft Engine Suppliers
- Drone Development Companies
- Defense-Related Companies
- Products
-
- Aircraft Fuel Control Parts
- Aircraft Materials
- Accessories
Welfare Vehicle Modifications and Support Equipment
- Overview
- Provides vehicle modifications for people with disabilities and welfare support products.
- Competitiveness
- Customization capabilities from a user perspective
- Customers
-
- Welfare Vehicle Sales Companies
- Nursing Care Facilities
- Disability-Related Organizations
- Government Welfare Departments
- Products
-
- Vehicle Modification Kits
- Manual Driving Devices (Auto Box, etc.)
- Welfare Support Equipment
Industrial Machinery and Greens-Related Machinery
- Overview
- Deploys industrial machinery such as lawn mowers necessary for greens maintenance.
- Competitiveness
- Machinery design technology compatible with a wide range of industrial applications
- Customers
-
- Landscaping Companies
- Golf Course Management Companies
- Public Greens Managers
- Industrial Machinery Sales Companies
- Products
-
- Lawn Mowers
- Turf Maintenance Machinery
- Related Industrial Parts
Products for Environmental and Living Equipment
- Overview
- Develops and sells products in the health and environmental equipment field.
- Competitiveness
- Rapid response to diversifying market needs
- Customers
-
- Home Appliance Manufacturers
- Health Equipment Sales Companies
- Home Goods Specialty Stores
- EC Operators
- Products
-
- Portable Humidifiers
- Combustion Heaters
- Environmental Control Equipment
Competitive Advantage
Strengths
- High technical flexibility as an independent company
- Diversity of four-wheeled and two-wheeled product lines
- Strong customer base built over a long history
- Advanced technology in the aerospace field
- Social contributions through welfare-related business
- Solid financial foundation
- Well-equipped domestic main factories and research institutes
- Advanced precision manufacturing technology
- Diverse sales channels
- Stable management structure
Competitive Advantages
- Flexible response to customer needs unique to independent companies
- High reliability and quality of fuel injection-related products
- Product lineup strong in both two-wheeled and four-wheeled fields
- Global business deployment and market development capabilities
- Technological superiority in aerospace parts
- Customization capabilities and social recognition in welfare vehicles
- High technological accumulation and R&D capabilities
- Risk diversification through diverse product lineup
- Strong technical partnerships with partner companies
- Stable long-term customer relationships
Threats
- Decline in demand for fuel parts due to EV shift in the automotive industry
- Intensifying price competition with major automotive parts manufacturers
- Uncertainty in global economic conditions
- Rising pressure from material prices and logistics costs
- Risk of delayed rapid response to technological innovations
- Intensifying competition from new entrants
- Increased product compliance costs due to stricter regulations
- Rise of emerging country manufacturers
- Profit volatility risk from exchange rate fluctuations
- Supply chain disruption risks
Innovations
2023: Contract for Suzuki EV Development-Related Operations
- Overview
- Contracted part of Suzuki's electric vehicle development, accelerating shift from fuel injection to EV parts development.
- Impact
- Business expansion into EV field and creation of new markets
2022: Establishment of Mikuni Aerospace
- Overview
- Established a new company to strengthen research and development of high-precision parts for aerospace.
- Impact
- Improvement in technology and market expansion in aircraft parts field
2021: Advanced Electronically Controlled Fuel Injection System
- Overview
- Introduced AI control technology into electronically controlled fuel injection systems to promote efficiency.
- Impact
- Contributes to improved fuel efficiency and reduced emissions
2020: Enhanced Functionality of Welfare Vehicle Dedicated Modification Devices
- Overview
- Developed and commercialized technologies to improve operability and safety of Auto Box.
- Impact
- Improved user satisfaction and strengthened competitiveness in welfare field
Sustainability
- Efforts to reduce energy consumption in manufacturing processes
- Active adoption of environmentally friendly materials
- Promotion of recycled parts utilization
- Strengthening of occupational safety and health and promotion of health management
- Participation in local environmental conservation activities
- Development of energy-saving and resource-saving products
- Reduction of environmental impact through electric vehicle-related products