Controls / Instrumentation | HIGH | Weight: 18%
Thesis: Signed exclusive DPCS contract with Rolls-Royce SMR (Feb 2026) for global fleet control systems. CENTUM VP is the standard DCS platform for Japanese nuclear plants. Near-zero debt (D/E 0.05), 14.6% op margin, 19.2% ROIC — highest quality business in the group.
Risk: Nuclear I&C is a small share of total revenue — incremental impact. Stock +107% in 52 weeks.
Monitor: Watch Rolls-Royce SMR UK licensing progress. If approved, major revenue recognition catalyst.
| Segment | Revenue | Share | Description |
|---|---|---|---|
| Industrial Automation & Control | ¥500B | 85% | DCS, SCADA, nuclear I&C, process control |
| Measuring Instruments | ¥32B | 5% | Precision test & measurement |
| New Businesses | ¥56B | 10% | Life sciences, new energy |
| Evidence | Customer | Product | Detail |
|---|---|---|---|
| CONFIRMED | Rolls-Royce SMR | DPCS for global SMR fleet | Exclusive contract Feb 2, 2026 — UK + Czech Republic delivery |
| CONFIRMED | Saudi Aramco | CENTUM VP DCS + AI control agents | CPA since 2012. AI agents deployed at Fadhili Oct 2025 |
| CONFIRMED | Shell | Robotics + AI plant maintenance | Long-term agreement Jun 2025 |
| CONFIRMED | ADNOC | ICSS, ESD, fire & gas systems | AED 2.6B ($708M) framework agreement |
| PROBABLE | Japanese nuclear utilities | CENTUM VP DCS for reactor control | Standard platform for J-nuclear plants |
| Company | Ticker | PE | Fwd PE | ROE | OpM | FCF |
|---|---|---|---|---|---|---|
| IHI Corporation | 7013.T | 28.94 | 28.02 | 23.6% | 9.1% | +¥68B |
| Hitachi | 6501.T | 26.64 | 25.37 | N/A | 11.1% | +¥1,390B |
| Japan Steel Works | 5631.T | 35.28 | 34.31 | 10.5% | 8.4% | -¥19.7B |
| Yokogawa Electric | 6841.T | 24.82 | 20.73 | 12.2% | 14.6% | +¥88B |
| Fuji Electric | 6504.T | 19.62 | 17.13 | 11.8% | 10.3% | +¥51B |
| Kanadevia | 7004.T | 19.62 | 14.09 | 5.8% | 2.0% | -¥12.8B |
| Organo Corporation | 6368.T | 26.42 | 24.47 | 23.5% | 21.4% | +¥19B |
| Kurita Water Industries | 6370.T | 38.22 | 21.67 | 6.8% | 13.7% | +¥25B |
| Sumitomo Heavy Industries | 6302.T | 20.46 | 18.63 | 4.7% | 4.8% | +¥11B |
Generated by JPstock-agent | 2026-04-12 | Full Comparison | Supply Chain Map