ISHII HYOKI.CO.,LTD.
6336・Standard Market・Machinery
Electronic Equipment & Parts Manufacturing Equipment
Capturing AI-related packaging substrate demand, this high-profitability segment is a core earnings pillar of the group
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Q1 cumulative, FY2027 (ending January 2027)) | ¥1,273 million | ¥919 million (Q1 cumulative, FY2026 (ending January 2026)) | ↑ |
| Operating Profit (Q1 cumulative, FY2027 (ending January 2027)) | ¥279 million | ¥87 million (Q1 cumulative, FY2026 (ending January 2026)) | ↑ |
| Operating Margin (Q1 cumulative, FY2027 (ending January 2027)) | 21.9% | 9.5% (Q1 cumulative, FY2026 (ending January 2026)) | ↑ |
| Net Sales YoY | +38.5% | — | ↑ |
| Operating Profit YoY | +217.2% | — | ↑ |
| Printed Circuit Board-Related Business Net Sales (Q1) | ¥1,009 million | ¥702 million (same period previous year) | ↑ |
| LCD-Related Business Net Sales (Q1) | ¥189 million | ¥135 million (same period previous year) | ↑ |
Business Details
Manufactures and sells printed circuit board manufacturing equipment (polishing machines, surface treatment equipment, copper plating lines, etc.) and Inkjet Coaters. Major customers are printed circuit board manufacturers (for AI-related packaging substrates) and LCD panel manufacturers. The business is operated by the company itself along with ISHII HYOKI (SUZHOU) CO., LTD. and CAP Co., Ltd. In addition to equipment sales, the segment is building up stock-type revenue from production consumables, making it a core earnings pillar of the group with high operating margins.
Recent Overview
Surging AI-related demand drove Q1 net sales up 38.5% and operating profit up more than threefold
In Q1 of FY2027 (ending March 2027) (February–April 2026), sales of related equipment and production consumables increased due to growing demand for AI-related packaging substrates, with sales of plating equipment for high-functionality materials also contributing. Net sales reached ¥1,273 million (up 38.5% year-on-year) and operating profit reached ¥279 million (up 217.2% year-on-year), a substantial increase in profit. In the LCD-related field, although new demand for manufacturing equipment remained limited, sales of production consumables increased as customers' factory utilization rates rose.
Key Products
Growth Drivers
- Expanding demand for printed circuit board manufacturing equipment driven by increased capital investment in AI-related packaging substrates
- Expanded sales of high-value-added products such as plating equipment for high-functionality materials
- Increased sales of production consumables in the printed circuit board and LCD-related fields (accumulation of stock-type revenue)
- Horizontal expansion of inkjet coating technology into markets other than LCD (such as fields aimed at reducing environmental impact)
- Geographic diversification of the LCD-related business through approaches to markets outside China
Risks
- Risk of declining sales of LCD panel manufacturing equipment due to a long-term contraction in LCD panel demand
- Risk of continued stagnation in capital investment in printed circuit board equipment for consumer devices (smartphones, PCs)
- Risk of deteriorating export profitability due to unstable exchange rates (impact of a stronger Chinese yuan and weaker yen)
- Risk of changes in customers' capital investment plans due to shifts in U.S. trade policy
- Risk of rising energy prices and restricted raw material supply due to escalating tensions in the Middle East
Last updated: April 23, 2026