Outside of Electric Cable
Japanese electrical wire manufacturers have performed strongly, with Fujikura emerging as the clear leader. Its dominance is well supported by a robust sales network catering to U.S. IT companies, particularly through its advanced optical wiring components. Given the surge in data center construction, demand for high-performance electric wiring remains strong.
The “Big Three” of Japan’s electric wire industry—Furukawa Electric, Sumitomo Electric Industries, and Fujikura—have appreciated between 65% and 220% year-to-date. In contrast, SWCC’s stock has underperformed despite record profits due to weak performance in its Chinese operations and limited exposure to high-growth optical wiring segments.
HVAC and General Construction: Emerging AI/Data Center Beneficiaries?
This earnings season has highlighted strong performance from general and HVAC construction companies—particularly the two bottom-ranked firms in the table. Their momentum reflects a growing recognition of temperature control as a critical operational factor for data centers.
This led me to consider Inabadenki, a company with dual exposure to both electric wiring and HVAC infrastructure. Notably, Inaba maintains a longstanding partnership with Fujikura. Given this positioning, Inaba may be an underappreciated beneficiary of the AI and data center buildout cycle.
Their hybrid footprint—spanning wiring components and thermal management—aligns well with the infrastructure demands of hyperscale environments. If AI workloads continue to drive power density and cooling complexity, firms like Inaba could see upside from both direct product demand and strategic partnerships.
My note to my clients details their defendable business model. If you’re interested in learning more about Inaba and its growth potential, I’d like to invite you to experience my service—completely free of charge. I am confident that once you discover the value, convenience, and quality I offer, you’ll be glad you gave me a try.
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