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Nippon Avionics (6946) · FactIncreasing sales concentration in NEC CorporationLatest Governance (2026-06-19): "Other"

Ownership and sales concentration in NEC Corporation

First written in FY2016. 9 of 24 entries say "Restated". Latest entry: 2026-06-19.

24entries
11years
1from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseRestatedFY2016 – FY2019OtherFY2021-Q2 – 2026-06-192016: 220162017: 220172018: 220182019: 220192020: 320202021: 220212022: 320222023: 220232024: 220242025: 220252026: 22026
Same theme, other companies
Sales to NEC Corporation account for 11.9% of total revenueA theme 5 companies write about · 5 as a headwind · 0 as a tailwind

2 other companies' latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-06-19OtherGovernance

    「NAJ ホールディングス株式会社 was established primarily to acquire and hold shares of the Company and conducts no business activities other than holding shares of the Company.」

    As of 31 March 2026, NAJ Holdings held 52.83% of the voting rights, confirming that the parent held a majority stake and that the relationship was centered on share ownership.
  2. FY2026Increasing sales concentration in NEC CorporationAnnual report

    「NEC Corporation 6,687 33.2 10,082 34.5」

    Sales to NEC Corporation increased from ¥6,687 million, or 33.2% of consolidated sales, to ¥10,082 million, or 34.5%, indicating greater sales concentration among major customers. NAJホールディングス held 52.61% of the voting rights, and the control structure under the parent company remained in place.
  3. FY2026-H1Completion of partial sale of shares held by the parent companyAnnual report

    「NAJホールディングス株式会社 14th Floor, Meiji Yasuda Life Building, 2-1-1 Marunouchi, Chiyoda-ku, Tokyo 7,779 52.61」

    NAJホールディングス held 7,779 thousand shares, representing 52.61% of the shares issued excluding treasury shares. Although this was down from 54.47% in the previous fiscal year, the parent company continued to hold a majority stake.
  4. FY2025Increasing sales concentration in NEC CorporationAnnual report

    「NEC Corporation 5,221 28.9 6,687 33.2」

    Sales to NEC Corporation increased from ¥5,221 million, or 28.9% of consolidated sales, to ¥6,687 million, or 33.2%, indicating greater sales concentration among major customers independently of the ownership structure.
  5. FY2025-H1Completion of partial sale of shares held by the parent companyAnnual report

    「NAJホールディングス株式会社 14th Floor, Meiji Yasuda Life Building, 2-1-1 Marunouchi, Chiyoda-ku, Tokyo 1,676 54.47」

    NAJホールディングス held 1,676 thousand shares, representing 54.47% of the shares issued excluding treasury shares. Although this was down from its 58.05% voting rights ownership ratio in the previous fiscal year, the parent company continued to hold a majority stake.
  6. FY2024Parent company's tender of shares into the issuer's tender offerAnnual report

    「NAJホールディングス株式会社, our parent company, owns 1,938 thousand of our shares, representing 58.05% of the voting rights.」

    NAJホールディングス held 58.05% of the voting rights, and the control structure under the parent company remained in place. Subsequently, the parent company tendered 261,400 of its common shares into the issuer's tender offer for treasury shares, resulting in a partial change in the ownership structure.
  7. FY2024-Q2Change in ownership ratio following conversion of preferred sharesAnnual report

    「NAJホールディングス株式会社 14th Floor, Meiji Yasuda Life Building, 2-1-1 Marunouchi, Chiyoda-ku, Tokyo 1,938 58.04」

    As of 30 September 2023, NAJホールディングス held 1,938 thousand shares, representing 58.04% of the total shares issued. The ownership structure and ownership ratio changed following the conversion of the Class 2 preferred shares into common shares and their subsequent cancellation.
  8. FY2023Change in ownership ratio following conversion of preferred sharesAnnual report

    「NAJホールディングス株式会社, our parent company, owns 2,236 thousand of our shares, representing 55.74% of the voting rights.」

    NAJホールディングス held 2,236 thousand shares and 55.74% of the voting rights, maintaining the control structure under the parent company. The ownership ratio based on common shares changed following the conversion of the Class 1 preferred shares into common shares and their subsequent cancellation.
  9. FY2023-Q2RestatedAnnual report

    「NAJホールディングス株式会社 15th Floor, Meiji Yasuda Life Building, 2-1-1 Marunouchi, Chiyoda-ku, Tokyo 2,658 65.33」

    As of 30 September 2022, NAJホールディングス held 2,658 thousand shares, including common and preferred shares, representing 65.33% of the total shares issued. Its voting rights ownership ratio was 50.08%, and the control structure under the parent company remained in place.
  10. FY2023-Q1RestatedAnnual report

    「In addition, all of the Class 1 and Class 2 preferred shares, which had been wholly owned by NEC Corporation, were transferred from NEC Corporation to NAJホールディングス株式会社, our parent company, on 13 May 2022.」

    The ownership structure was reconfirmed, with all of the Class 1 and Class 2 preferred shares having been transferred from NEC to NAJホールディングス.
  11. FY2022Transfer of preferred share ownershipAnnual report

    「NAJホールディングス株式会社, our parent company, acquired all of the Class 1 and Class 2 preferred shares from NEC Corporation on 13 May 2022. The shares had previously been wholly owned by NEC Corporation.」

    All of the Class 1 and Class 2 preferred shares held by NEC were transferred to NAJホールディングス on 13 May 2022, in addition to the control structure for the common shares.
  12. FY2022-Q2RestatedAnnual report

    「NAJホールディングス株式会社 15th Floor, Meiji Yasuda Seimei Building, 2-1-1 Marunouchi, Chiyoda-ku, Tokyo 1,415 34.78 NEC Corporation 5-7-1 Shiba, Minato-ku, Tokyo 1,243 30.55」

    The ownership structure showed NAJホールディングス holding 1,415 thousand shares and NEC Corporation holding 1,243 thousand shares. NAJホールディングス held 50.07% on a voting-rights basis.
  13. FY2022-Q1Acquisition and cancellation of preferred shares held by NECAnnual report

    「On 11 June 2021, pursuant to Article 11-20 of our Articles of Incorporation, we acquired 1,000,000 Class 2 preferred shares from NEC Corporation and cancelled them on the same date.」

    The company acquired and cancelled 1 million Class 2 preferred shares from NEC. The partial reduction in NEC's shareholding further changed the ownership structure involving the parent company and principal related party.
  14. FY2021-Q2Partial reduction in NEC's shareholdingAnnual report

    「NEC Corporation 5-7-1 Shiba, Minato-ku, Tokyo 2,243 44.27」

    NEC held 2,243 thousand shares, representing 44.27% of shares issued. NAJホールディングス held 50.26% on a voting-rights basis, so control by the parent company continued, while NEC's shareholding declined from the previous fiscal year following the acquisition request and cancellation of preferred shares.
  15. FY2020ReframedAnnual report

    「Our parent company, NAJホールディングス株式会社, owns 1,415 thousand shares in our company, representing 50.25% of the voting rights, and conducts activities to control and manage our business operations.」

    The parent company and ownership concentration structure changed from NEC to NAJホールディングス. NEC held 2,300 thousand common shares, representing 44.89% of shares issued.
  16. FY2020-Q3ReframedAnnual report

    「As a result, the tender offeror is expected to acquire all 1,415,100 common shares tendered as of 31 January 2020, the start date for settlement of the tender offer, and our parent company is scheduled to change from NEC Corporation to the tender offeror.」

    The ownership structure was scheduled to change from one in which NEC held the common shares to one in which NAJホールディングス acquired the 1,415,100 tendered shares and became the parent company.
  17. FY2020-Q1ReframedAnnual report

    「The tender offeror reportedly entered into a tender offer agreement with our parent company, NEC, under which NEC would tender all of its 1,415,100 common shares in our company, representing 50.11% ownership, out of its holdings of 1,415,100 common shares, 800,000 Class 1 preferred shares and 1,500,000 Class 2 preferred shares.」

    As of the end of the quarter, NEC held 50.11% of the common shares, but an agreement was announced under which it would tender all of those common shares in the tender offer, indicating that ownership concentration was scheduled to change to NAJホールディングス. NEC was scheduled to continue holding its preferred shares.
  18. FY2019RestatedAnnual report

    「NEC Corporation held 50.26% of the voting rights, and sales to NEC Corporation during the current consolidated fiscal year were ¥5,076 million, representing 29.1% of consolidated revenue.」

    The concentration in the parent company and principal customer continued, with NEC Corporation holding 50.26% of the voting rights and sales to it of ¥5,076 million, or 29.1% of consolidated revenue.
  19. FY2019-Q2RestatedAnnual report

    「NEC Corporation; 5-7-1 Shiba, Minato-ku, Tokyo; 3,715; 72.50」

    NEC Corporation held 3,715 thousand shares, representing 72.50% of total shares issued, and its voting interest was also 50.26%. The concentration of ownership in the parent company and principal customer continued.
  20. FY2018RestatedAnnual report

    「NEC Corporation held 50.26% of the voting rights, and sales to NEC Corporation during the current consolidated fiscal year were ¥5,560 million, representing 29.7% of consolidated revenue.」

    The filing noted the concentration of ownership and sales, with NEC Corporation holding 50.26% of the voting rights and sales to it of ¥5,560 million, or 29.7% of consolidated revenue.
  21. FY2018-Q2RestatedAnnual report

    「NEC Corporation; 5-7-1 Shiba, Minato-ku, Tokyo; 16,451; 53.76」

    The filing stated that NEC Corporation held 16,451 thousand shares, representing 53.76% of total shares issued, indicating continued concentration of ownership in the parent company and principal customer.
  22. FY2017RestatedAnnual report

    「NEC Corporation held 50.25% of the voting rights, and sales to NEC Corporation during the current consolidated fiscal year were ¥4,787 million, representing 22.3% of consolidated revenue.」

    The filing noted the concentration in the parent company and principal customer, with NEC Corporation holding 50.25% of the voting rights and sales to it of ¥4,787 million, or 22.3% of consolidated revenue.
  23. FY2017-Q2RestatedAnnual report

    「NEC Corporation; 5-7-1 Shiba, Minato-ku, Tokyo; 16,451; 53.76」

    NEC Corporation held 16,451 thousand shares, representing 53.76% of total shares issued. Its voting interest was 50.25%, indicating continued concentration in the parent company and principal customer.
  24. FY2016First statedAnnual report

    「NEC Corporation; percentage of voting rights held: 50.24」

    NEC Corporation held 50.24% of the voting rights. Sales to NEC Corporation in the current year were ¥6,863 million, representing 29.9% of consolidated revenue.
Moved together

"Uncertain Outlook Due to Economic Slowdown in Japan and Overseas and the UK's Withdrawal from the EU" moved the same way as this thread, in the same document, in 2 of its 24 moves.

2222★1234
  1. ★This thread
  2. 1Uncertain Outlook Due to Economic Slowdown in Japan and Overseas and the UK's Withdrawal from the EU2×
  3. 2Restraint on Capital Investment by Private-Sector Customers2×
  4. 3Capturing demand for bonding equipment for small electronic components and expanding exports2×
  5. 4Liquidity Risk for Trade Payables and Borrowings2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

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Nippon Avionics's next results are scheduled for 2026-10-30. Read the earnings preview It last moved in the Governance of 2026-06-19: "Other".
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Ownership and sales concentration in NEC Corporation | Nippon Avionics Co.,Ltd. (6946) | Komori