Sumitomo Electric
5802.TMEDIUMScore: 51.9Wiring / HV Cables · Weight: 4%· Data as of 2026-05-17
Investment Thesis
Dominant Japanese wire harness supplier — EV content ~30% higher value than ICE due to HV shielding. FY2026 record OP ¥418.2B (+30.4%). Confirmed Toyota/Honda/Nissan OEM supply. Medium-term target OP ¥600B by FY2029. 4-for-1 stock split July 1 2026.
Risk
CAUTION — elevated valuation. Forward PE 29.7x on declining FY2027 NI (-13.4% due to Sumitomo Densetsu deconsolidation + US tariff headwinds). PB 2.4x above 80th percentile guardrail. OP still growing +1.6% — NI decline is partly one-time, but tariff risk is structural. Peak Earnings trap risk if OP misses in FY2027.
Monitoring Trigger
FY2027 Q1 OP trajectory (Jul 2026 results). Post-split price behavior. EV harness order intake. If FY2027 OP tracking <¥400B, EXIT. 4-for-1 split July 1 2026 — verify price adjustment.
Key Dates
Key Metrics
Business Segments
| Segment | Revenue | Share | Description |
|---|---|---|---|
| Automotive | ¥1,972B | 40% | Wire harness, HV cables for EV |
| Infocommunications | ¥740B | 15% | Fiber optic, telecom |
| Environment & Energy | ¥740B | 15% | Power cable, EV charging cable |
| Electronics | ¥740B | 15% | PCB, electronic wires |
| Industrial Materials | ¥740B | 15% | Metals, alloys |
Supply Chain Evidence
| Evidence | Customer | Product | Detail |
|---|---|---|---|
| confirmed | Toyota | Primary wire harness supplier | Long-standing OEM relationship |
| confirmed | Honda | Wire harness | Long-standing OEM |
| confirmed | Nissan | HV harness for Leaf/Ariya | EV-specific HV harness supply |
Primary IR Documentation
Values and insights cited from official company IR releases (earnings, 決算短信, MoUs, presentations).
Cites: Primary IR portal — financial reports, fact books, library
https://sumitomoelectric.com/ir
Cites: Full year earnings release
https://sumitomoelectric.com/sites/default/files/2026-05/download_documents/2025_allv.pdf
Cites: Wholly-owning Sumitomo Riko to accelerate CASE collaboration including integrated harness modules and EV battery products
https://sumitomoelectric.com/press/2025/10/prs065