OPTORUN CO.,LTD.
6235・Prime Market・Machinery
Business
OPTORUN CO.,LTD. is a global company primarily engaged in the manufacture and sale of optical thin-film deposition equipment. It provides film deposition equipment for anti-reflective coatings, IR-cut filters, anti-fouling coatings, and other films for a wide range of end products, including smartphones, automotive cameras, optical communications, LEDs, and AR/VR. Its customers are optical thin-film deposition manufacturers and end-product manufacturers, and a distinguishing feature is that it offers total solutions encompassing not only equipment sales but also advice on deposition processes. The company has 8 consolidated subsidiaries and 2 affiliated companies, and operates global sites in Japan, China, Taiwan, Finland, the United States, Vietnam, and elsewhere. Its business consists of a single segment: the Film Deposition Equipment Business.
Business Model
The company receives orders from domestic and overseas customers, sells film deposition equipment produced at its manufacturing subsidiaries in China and Taiwan, and provides maintenance services and advice on film deposition processes. It has built a vertically integrated supply chain in which key components are procured from suppliers in Japan and supplied to the manufacturing subsidiaries. Leading indicators remained solid, with orders received for the fiscal year 2025 totaling ¥40,993 million (up 26.7% year on year) and order backlog totaling ¥31,290 million (up 29.5% year on year), reflecting a structure in which a high level of order backlog is accumulated relative to net sales.
Company Strengths
The company holds a product lineup supporting multiple deposition methods and applications, including the Optical Thin-Film Formation Equipment (OTFC Series) (IAD deposition), NSC-15 (sputtering), OWLS-1800 (sputtering for semiconductor optical applications), ALDER (ALD), and Ultra Multi-Layer Thin-Film Formation Equipment (SPOC-1100T) (ultra multi-layer thin films for optical communications). Its technological diversity, capable of addressing a wide range of end markets from smartphones to automotive, optical communications, and LEDs, is a key strength.
Orders received in FY2025 (ended March 2025) totaled ¥40,993 million (up 26.7% year on year), and the order backlog expanded significantly to ¥31,290 million (up 29.5% year on year). The order backlog, which substantially exceeds net sales of ¥33,861 million, functions as a leading indicator underpinning sales recognition in future periods, and forms the basis for the net sales outlook of ¥38,200 million (up 12.8% year on year) for FY2026 (ending March 2026).
Research and development expenses in FY2025 (ended March 2025) totaled ¥3,801 million (approximately 11.2% of net sales). The company conducts R&D activities across three domains—optical, semiconductor optical, and electronic devices—at sites in Japan (head office and Nanoresotikkusu), China (Optorun Technology Shanghai and Optorun Semiconductor Technology Shanghai), and Finland (Afly Solution Oy). Each site collaborates cross-functionally to develop high-value-added equipment.
ENVALITH's Perspective
Performance Trend
Over the past five fiscal years, revenue peaked at ¥36,807 million in FY2023, then remained at low levels of ¥32,406 million in FY2024 and ¥33,861 million in FY2025. Operating profit plunged from ¥9,752 million in FY2023 to ¥3,335 million in FY2025, with the profit margin deteriorating significantly. In Q1 of FY2026 (fiscal year ending December 2026), revenue was ¥6,968 million (down 11.8% year on year) and operating profit was ¥511 million (down 32.3% year on year), marking a weak start. As an external factor, the sharp rise in energy prices and geopolitical risk stemming from the situation in the Middle East are heightening uncertainty about the outlook. On the other hand, equipment for smartphone camera modules and for data center-related optical communications has remained strong, and since the decline in revenue is mainly attributable to a decrease in parts service and equipment modification projects, the underlying resilience of demand for equipment units themselves can be confirmed. The full-year forecast remains unchanged at revenue of ¥38,200 million and operating profit of ¥6,200 million, with performance expected to be concentrated in the second half.
Growth Strategy
Expansion into optical communications, semiconductor optics, and electronic devices, together with the establishment of a global operating structure
The Company aims to capture growing demand for optical-electronic convergence and silicon photonics-related equipment, driven by generative AI and data center demand. It has been noted that sales of equipment for data center-related optical communications remained strong in the first quarter of FY2026 (ending December 2026), functioning as a growth driver.
The Company is expanding sales of film deposition equipment for smartphone camera modules, driven by demand for enhanced camera functionality resulting from the spread of AI-equipped, foldable, and high-end models. Sales for smartphone camera modules in the optics field have also been confirmed to be strong in the first quarter of FY2026 (ending December 2026).
Actview Technology Co., Ltd., held by consolidated subsidiary Guangchi Technology (Shanghai) Co., Ltd., completed its listing on the Shanghai Stock Exchange (STAR Market) in the first quarter of 2026. Investment securities surged to ¥33,208 million, substantially strengthening the financial base. Meanwhile, an equity method investment loss of ¥201 million was also recorded, and the performance trends of affiliated companies continue to warrant attention.
Last updated: July 17, 2026