[4.5-Year Shareholder Cross-Trading Verification] How I Consistently Earned ¥30,000 in Appliance Discounts with Nojima (7419)—Overcoming Two Stock Splits
In the series of shareholder cross-trading stocks I have introduced so far, I covered Yamada HD (9831) as an electronics retailer.
This time, I will cover its rival stock, Nojima Corporation (Securities Code: 7419). It is an electronics retailer based in Kanagawa Prefecture with operations centered in the Tokyo metropolitan area, and it is a stock with a shareholder benefit program that has a different appeal from Yamada HD.
I have conducted 6 cross-trades over 4.5 years with this stock, and I currently hold 300 shares (post-split) for the long term. I will explain the actual trading data, the stock price growth following two stock splits, and the major revision to the shareholder benefit program starting in 2026.
1. About Nojima: A Rapidly Growing Electronics Retailer from Kanagawa
Nojima is an electronics retailer headquartered in Sagamihara City, Kanagawa Prefecture. Although it is a long-established company founded in 1959, it has recently garnered attention as a growth company that balances tradition and innovation through the strengthening of its mobile phone sales business, digitalization, and the operation of the e-commerce site 'Nojima Online'.
Nojima's Strengths
Metropolitan Dominant Strategy: Concentrated store openings in the Kanto region (Kanagawa, Tokyo, Chiba, Saitama)
Mobile Phone Sales: Operating specialty stores for Docomo, au, SoftBank, and Rakuten Mobile carriers
Digital Strategy: Nojima Online and manufacturer direct sales systems
High Capital Efficiency: High levels of ROE and ROIC within the electronics retail industry
Steady Business Growth: Sales and profits have been on an upward trend throughout the 2020s
In particular, the 1-for-3 stock split in October 2025 was a measure to create an environment where individual investors could participate more easily as the stock price had risen.
2. Nojima's Shareholder Benefit Program: Easy-to-Use Appliance Discount Coupons
Nojima's shareholder benefits are simple and practical electronics retailer discount coupons.
When holding 100 shares (Old system: up to September 2025 rights)
Shareholder Benefit Discount Coupon (10% discount, up to ¥1,000 discount): Received twice a year (end of March and end of September)
Can be used once per day per coupon at Nojima stores and Nojima Online
'Electronic ticketing' starting from the end of September 2025
Changing from paper tickets to electronic tickets usable on smartphones
Aiming to reduce environmental impact, improve convenience, and prevent unauthorized use
Significant changes to the shareholder benefit program starting from the end of March 2026
Requirement of holding at least 300 shares (after stock split)
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Full-scale introduction of a long-term holding incentive program:
Under 2 years: Shareholder discount coupons (up to ¥200,000 equivalent per year)
2 years or more: Nojima points (up to ¥100,000 equivalent per year)
5 years or more: Kanagawa Prefecture specialty product catalog gift (up to ¥40,000 equivalent per year)
This "long-term holding incentive" is the most significant feature of the current Nojima shareholder benefits. By holding for 5 years or more, you are even provided with a catalog gift featuring specialty products from Kanagawa Prefecture, an unusual benefit for an electronics retailer.
3. My 4.5-Year, 6-Time Cross-Trading Trajectory
I began my cross-trading at Nojima in parallel with Yamada HD. It is a strategy of using shareholder cross-trading selectively between two electronics retailers.
Cross-Trading History
Rights Determination Cross Share Count Price Total Transaction Value Remarks
End of Sept 2021 100 shares ¥2,856 ¥285,600 Cross start
End of March 2022 100 shares ¥2,392 ¥239,200
End of Sept 2022 100 shares ¥2,764 ¥276,400Just before 1:2 split
End of Sept 2023 500 shares ¥1,307 ¥653,500 After split, share count increased
End of March 2024 1,000 shares ¥1,691 ¥1,691,000 Further share count increase
End of Sept 2025 1,000 shares ¥4,060 ¥4,060,000Just before 1:3 split
What is noteworthy is that I have experienced two stock splits (1:2 → 1:3, cumulative 1:6) in 4.5 years. And that I have expanded my cross-trading share count 10-fold from 100 shares to 1,000 shares.
This is the result of an active strategy where, as Nojima's stock price grew, I also increased my cross-trading share count to receive more benefits.
Stock Price Trend (Effective Unit Price After Split Adjustment)
Period Nominal Unit Price Effective Unit Price After Split
Sept 2021 ¥2,856¥476
Sept 2022 ¥2,764 ¥461 (effective)
Sept 2023 ¥1,307 (after 1:2 split)¥436
March 2024 ¥1,691 ¥564
Sept 2025 ¥4,060 (just before 1:3 split)¥1,353
The effective unit price grew from ¥476 to ¥1,353, approximately 2.8 times—Nojima is a stock that has shown remarkable growth even within the electronics retail industry.
4. Cash Flow: "Nearly Zero Cost" Reproduced
This is the core of this article. Let's look at the cash flow over 4.5 years.
Rights Period Cash Dividend (Received) Credit Payment Remarks
Sept 21 Term Interim ¥1,913 -¥2,400
March 22 Term Year-end ¥2,072 -¥2,600
Sept 22 Term Interim ¥2,072 -¥2,600
Sept 23 Term Interim ¥5,977 -¥7,500 Cross share count to 500
March 24 Term Year-end ¥14,344 -¥18,000 Cross share count to 1,000
Sept 25 Term Interim ¥18,328 -¥23,000Total ¥44,706 -¥56,100
Here, the "nearly offset by tax refunds" structure familiar to this series is reproduced again.
¥44,706 - ¥56,100 + ¥11,396 (estimated tax refund) = +¥2
It is almost perfectly zero. Even if dividends increase or credit interest payments rise, the fact that 20.315% of that is refunded the following January means that the cash balance stays within the margin of error—this is the classic pattern of shareholder cross-trading.
True Total Balance
Item Amount Physical Dividend (4.5-year total) +¥44,706 Credit Interest Payment (4.5-year total) -¥56,100 Tax Refund (estimated) +¥11,396 Cash Balance +¥2Shareholder Discount Coupons 30 sheets (@¥1,000) +¥30,000 Net Total Balance +¥30,002
In other words, I acquired ¥30,000 worth of home appliance discount coupons at almost zero cost over 4.5 years. As a home appliance retailer perk, this is a solid return, on par with Yamada HD (+¥40,000).
5. Tips for "Using Up" Nojima Shareholder Perks
I used up all 30 discount coupons I acquired. I will share some tips for maximizing the use of home appliance retailer perks.
① Use the "1 coupon = ¥1,000 discount" effectively Since each coupon provides up to a ¥1,000 discount, you can receive the full discount on purchases of ¥10,000 or more. If you buy a small item for ¥3,000, the discount is limited to ¥300, so the trick is to use them on items with a substantial price.
② Take advantage of the one-per-day limit Since you can only use one per day, if you are using multiple coupons at once as a family, you need to split your shopping days. In our household, we plan our usage to match when we need to buy appliances.
③ Use as a "rebate" at Nojima Online While it is an "instant discount" in-store, it becomes a "point rebate" online. Since it becomes capital for your next purchase, you end up getting equivalent economic value.
④ Can be used in combination with point cards It can be used in combination with the Nojima Mobile Member point card. Since store visit points and purchase points are applied on top of the shareholder discount, the effective return rate increases even further.
⑤ "Combined techniques" for high-priced appliance purchases When buying large appliances like refrigerators, washing machines, or TVs, you can maximize your discount by splitting the purchase over a period where you can use multiple coupons separately.
6. Major Revision from 2026: "Chapter 2" of Nojima Shareholder Perks
From the end of March 2026, Nojima's shareholder perks will be reborn in a completely new form.
Main Changes
Increase in minimum share requirement: 100 shares → 300 shares (post-split) as the minimum requirement
Full-scale introduction of a long-term holding incentive system: Perk benefits increase in stages based on the holding period
I currently hold 300 shares (post-split) = 100 shares (pre-split) long-term, so I am eligible for the new system.
Expected return under the new system (300 shares, under 2 years)
Shareholder discount coupons: Up to ¥200,000 worth annually (in reality, only within the usable range)
For realistic utilization, it is about ¥10,000 to ¥15,000 per year
After 2 years of holding
Added to ¥5,000 worth of Nojima points per year
After 5 years of holding
Kanagawa Prefecture specialty catalog gift worth ¥5,000 per year
*As a company headquartered in Sagamihara City, Kanagawa Prefecture, Nojima's local specialty gift benefit also holds high cultural value
In other words, “the longer you hold, the richer you become”—a system design that is attractive to long-term investors.
7. Nojima × Yamada HD: Comparison of Home Appliance Retailer Benefits
Here, I will create a comparison table with Yamada HD.
Item 9831 Yamada HD7419 NojimaBenefit Details Shopping Discount Coupon (¥500 coupon) Discount Coupon (10%, max ¥1,000) Max value per coupon ¥500¥1,000Usage Limit % of purchase amount, 1 per day Long-term holding requirement NoneFull implementation from 2026My actual balance +¥40,000+¥30,002Stock splits None Twice (cumulative 1:6)
Both companies are excellent stocks where sufficient returns can be obtained through cross-trading, but their characteristics are contrasting:
Yamada: Focus on simplicity and continuity (unconditional, nationwide chain)
Nojima: Focus on growth and future potential (stock splits, long-term holding incentives)
I use a strategy of using both companies, and when purchasing large home appliances several times a year, I use them selectively according to my needs at that time.
8. Points to Note: Pitfalls of Nojima Benefit Cross-Trading
Nojima's benefits look perfect, but there are some points to note.
① Need to adapt to system changes from 2026 onwards From the end of March 2026, 300 shares or more will be required (after the split). Investors who only hold 100 shares will be forced to choose between additional purchases or giving up the benefits. I originally hold 300 shares (after the split), so it is not a problem, but those who are entering now should be careful.
② Adaptation to electronic ticketing Electronic ticketing from the end of September 2025. The barrier has been raised for those who are not accustomed to smartphone app operations. Registration procedures for Nojima's official app/site are required.
③ Usage limit of 1 per day When buying large home appliances in bulk as a family, ingenuity is required to use up the benefits efficiently.
④ Stock price fluctuation risk (impact immediately after split) Immediately after the 1:3 split in October 2025, there is a possibility that the stock price will temporarily fluctuate wildly due to changes in the supply-demand balance. Be cautious when determining the price for cross-trading.
⑤ Few stores for residents in Kansai and other regions Since Nojima stores are concentrated in the Tokyo metropolitan area, they are difficult for residents in Kansai and other regions to use. Utilizing Nojima Online is a realistic option.
9. The "True Value" of Long-Term Nojima Holdings
Finally, here are three reasons why I hold Nojima for the long term.
① A steadily growing company While the home electronics retail industry as a whole is shrinking, Nojima's sales and profits are both on an upward trend. They are adopting strategies for structural growth, such as mobile phone sales, shifting to e-commerce, and strengthening direct-from-manufacturer sales.
② "Individual investor welcome" stance through two stock splits They carried out stock splits in succession in 2022 and 2025. This is a management statement that they welcome individual investors and want to expand their shareholder base. The enhancement of the shareholder perk system is one part of that trend.
③ The connection with Kanagawa Prefecture is a cultural value Their management policy, deeply tied to Kanagawa Prefecture where their headquarters is located, has a cultural value that goes beyond just being a "profitable company." The perk that allows you to choose local specialty products from a catalog gift is a symbol of that.
Conclusion: The Evolution from "Hedging to Long-Term Holding"
My investment life at Nojima truly embodies the "evolution from hedging to long-term holding."
2021–2025: A net gain of +¥30,002 from 6 shareholder perk hedging trades
From October 2025: Transitioning to long-term holding of 300 shares following the stock split
From 2028: Preferential Nojima points after 2 years of holding
From 2031: Preferential Kanagawa Prefecture specialty catalog gift after 5 years of holding
"Efficiently hedge in the short term, and hold for preferential treatment in the long term"—this is my strategy for maximizing the use of the Nojima stock.
For those who want to seriously utilize home electronics retail shareholder perks, those who feel the appeal of the connection with Kanagawa Prefecture, and those interested in long-term holding preferential systems, 7419 Nojima is a stock I highly recommend considering.
📚 Introduction to the Series
This note is part of a series themed around "Verifying Shareholder Perk and Dividend Strategies with Actual Transaction Data".
🛒 Perks to Use for Shopping (Retail)
9831 Yamada HD: Earned ¥40,000 in appliance discount coupons through 4 years of hedging
7419 Nojima: This article
7532 Pan Pacific (Don Quijote): Earned ¥16,000 in majica points through 8 consecutive hedges
🚆 Perks that Color Your Travels and Commutes
9041 Kintetsu Group HD: Traveling through Kansai with complimentary tickets, effectively +¥60,001
📱 Perks to Save on Communication Costs
4755 Rakuten Group: Using 30GB/month of mobile data for free, worth ¥36,000 per year
🍔 Perks to Enjoy Dining (Restaurant Sector)
2702 McDonald's Holdings Japan: Obtaining ¥105,000 worth of meal vouchers through a semi-cross strategy
3197 Skylark Holdings: The story of dividend resumption after COVID-19, obtaining ¥85,000 worth of meal vouchers
💰 High-Dividend ETF & Stock Series
2865 NASDAQ-100 Covered Call ETF: Cumulative distributions of ¥367,647
2868 S&P 500 Covered Call ETF: Cumulative distributions of ¥179,555
2866 US Preferred Securities ETF: Cumulative distributions of ¥85,076
1489 Nikkei 225 High Dividend Yield 50 ETF: Cumulative ¥33,074 from quarterly distributions
8316 Sumitomo Mitsui Financial Group: Stable shareholder returns with 6 consecutive years of dividend increases
*This article is based on personal investment results and impressions, and does not recommend the purchase of specific stocks or trading methods. Shareholder benefit programs are subject to change. Margin trading involves risks. Please make investment decisions at your own discretion and responsibility.