WAIDA MFG.CO.,LTD
6158・Standard Market・Machinery
Manufacture and Sale of Machine Tools (Single Segment)
Niche top manufacturer of specialized CNC grinding machines for mold and cutting tool applications
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year) | ¥6,659 million | ¥7,554 million | ↓ |
| Operating profit (full year) | ¥254 million | ¥709 million | ↓ |
| Ordinary profit (full year) | ¥355 million | ¥734 million | ↓ |
| Profit attributable to owners of parent (full year) | ¥275 million | ¥435 million | ↓ |
| Operating margin | 3.8% | 9.4% | ↓ |
| Equity ratio | 84.3% | 81.5% | ↑ |
| Operating cash flow (full year) | ¥742 million | ¥917 million | ↓ |
| Depreciation (full year) | ¥454 million | ¥411 million | ↑ |
| Cash and cash equivalents at end of period | ¥4,340 million | ¥4,472 million | ↓ |
| Net assets per share | ¥1,620.26 | ¥1,578.29 | ↑ |
Business Details
The Company Group is a single-segment company engaged in the development, manufacture, sale, and repair of CNC grinding machines, primarily serving the mold-related industry and the cutting tool-related industry. The Company specializes in the specialized technology of grinding hard and brittle materials such as tungsten carbide and ceramics, and has secured a high share in the niche markets of profile grinding machines, jig grinding machines, insert grinding machines, and other fields where there are only one to three competitors worldwide. Its customers span a wide range of industries, including electronic components, semiconductors, precision machinery, automobiles, and cutting tool manufacturing. Consolidated net sales for FY2026 (ending March 2026) were ¥6,659 million.
Recent Overview
Operating profit declined 64.1% year on year due to a sharp drop in cutting tool-related sales and increased overseas expansion expenses
In FY2026 (ending March 2026), net sales fell to ¥6,659 million (down 11.8% year on year), affected by continued cautious capital investment stances stemming from concerns over U.S. tariff measures and disruptions in maritime transport caused by the deterioration of the situation in Iran. By product category, mold-related grinding machines performed well, reaching ¥3,196 million (up 64.7% year on year) on increased sales to China and other parts of Asia, while cutting tool-related grinding machines declined sharply to ¥2,361 million (down 46.8% year on year). Combined with increased overseas expansion expenses, higher depreciation burden from capital investment, and a rising ratio of R&D expenses, operating profit came to ¥254 million (down 64.1% year on year). In addition, the establishment procedures for the Shanghai local subsidiary (Waida Machine Tool (Shanghai) Co., Ltd.) were completed, and it was newly added to the scope of consolidation. For FY2027 (ending March 2027), the Company forecasts net sales of ¥7,524 million and operating profit of ¥428 million.
Key Products
Growth Drivers
- Continued strong sales of mold-related grinding machines to China and other parts of Asia (up 64.7% year on year in FY2026 (ending March 2026)) and steady trend in orders for profile grinding machines in China
- Further strengthening of the China business through the full-scale commencement of operations at the Shanghai local subsidiary (Waida Machine Tool (Shanghai) Co., Ltd.)
- Expansion of sales in North America and Latin America through WAIDA AMERICA INC. (established January 2025)
- Strengthening of order-taking sales and service in Europe through the assignment of sales and after-sales service personnel to WAIDA Europe GmbH
- Market development through the launch of new products such as the digital profile grinding machine "SPG-XV" and participation in domestic and overseas exhibitions
- Expansion of the new product lineup through the launch of sales of the diamond insert edge grinding machine "DCG-G1" at the Taiwanese subsidiary Waida Precision Machinery Co., Ltd.
- Capturing export demand against the backdrop of expanding overseas demand in the machine tool industry (cumulative overseas demand in fiscal 2025 up 18.1% year on year)
Risks
- Risk of continued sluggish demand for cutting tool-related grinding machines (down 46.8% year on year in FY2026 (ending March 2026)) and dependence on specific customers (such as ISCAR LTD.)
- Curtailment of customers' capital investment due to the impact of U.S. tariff measures and uncertainty over the outlook for markets in Europe and the United States
- Impact on product sales and materials procurement from disruptions in maritime transport caused by the deterioration of the situation in Iran
- Pressure on profit (operating margin declining to 3.8%) due to increased depreciation burden from overseas expansion expenses and capital investment, and a rising ratio of R&D expenses
- High susceptibility to economic fluctuations and industry cycles due to concentration of customers in the mold and cutting tool-related industries
- Constraints on business expansion due to the inherently limited market size of the niche market
- Difficulty in securing skilled engineers amid the declining birthrate, aging population, and increased labor mobility
Last updated: June 23, 2026