Company Overview

1. Company Overview

Established in 1962, Hihist Co., Ltd.'s main business is advanced parts processing technology. Its business is mainly focused on three areas: direct drive equipment, precision parts processing, and unit products. However, the company currently relies mainly on OEM supply of special parts for research and development or racing vehicles, so its performance is less prone to abrupt changes. In the future, the company aims to expand into new fields by utilizing its high-level parts processing technology.

2. History

The company was founded in 1962 in Kawasaki by its founder, Kusuya Ozaki, who graduated from Keio University with a degree in humanities. Recognizing the importance of manufacturing in Japan's future, he established the company to engage in various parts processing. In 1964, he began research and development of linear ball bushes, and in 1965, he succeeded in developing an oil-containing sintered alloy solid retainer that was unprecedented in its field, marking the start of production of groundbreaking linear ball bushings. In 1968, the company signed an OEM supply contract for linear ball bushes with NSK Corporation (6471), and began selling them under the NSK brand. Thereafter, it developed the angular way in 1980 for use in direct guidance mechanisms for machine tools and industrial machinery, and in 1987, it developed positioning stages and parallel mechanism structures for position determination stages, obtaining numerous patents.

In 1990, the company established the Akita Plant in the Toyoiwa Industrial Park, Akita City, as it began trading with THK in linear ball bushes. In 1997, it obtained a patent for a spherical bearing, and began selling the product in 1999. Furthermore, in 1999, it developed a circular arc crawler guide that is ideal for high-rigidity linear bearings for press machines and molds, and began selling it. Its stock was listed in 2004, marking a handover of the presidency to the current representative director and president, Hirotaka Ozaki, from 2005. In 2010, it expanded its lineup with two products for its cylindrical linear bearings: a spinning bearing and a miniature ball screw spline. It also announced a series of 12 limited-stroke ball spline small-diameter linear bearings.

In 2013, the company began selling the UTB (Utility Track Ball) series for consumer linear ball bushes, and in 2014, its technology was adopted for Megabass Co., Ltd., a leading manufacturer of fishing lures, in its new movable weight system LBO (Linear Bearing Oscillator). In 2016, it expanded its lineup by adding slim, long, and long-slim types to its UTB series.

The company went public by registering with the Japan Securities Dealers Association in 2004, and is now listed on the Tokyo Stock Exchange's Standard Market following the consolidation of stock exchanges.

The company's name comes from Hephaistos (HEPHAISTOS), a distinctive personality god who appears as the god of blacksmiths, artisans, and fire in Greek mythology. The company was named Hihist Seiko Corporation with the desire to continue to burn with a passion for excellence in steel and fine mechanics by embodying his value as a god who creates value. It changed its name to Hihist Corporation (HEPHAIST Co., Ltd.) on July 1, 2020 to further expand its business areas (M&A strategy) and increase recognition and brand appeal for its corporate brand Hihist.

(Written by FISCO guest analyst Noboru Terashima)