TESEC Corporation
6337・Standard Market・Machinery
TESEC Corporation (Single Segment)
Operates the manufacture and sale of semiconductor test equipment (Handlers and Testers) as a single business
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥5,567 million | ¥5,892 million | ↓ |
| Operating profit | ¥301 million | ¥434 million (calculated from a 30.7% year-on-year decrease) | ↓ |
| Orders received | ¥5,462 million | ¥4,043 million (calculated from a 35.1% year-on-year increase) | ↑ |
| Order backlog | ¥2,556 million | ¥2,663 million (calculated from a 4.0% decrease from the previous fiscal year-end) | ↓ |
| Segment assets (total assets) | ¥15,896 million | ¥15,475 million (calculated from a ¥421 million increase from the previous fiscal year-end) | ↑ |
Business Details
TESEC is a semiconductor test equipment manufacturer whose core products are "Testers," which evaluate the electrical characteristics of semiconductors, and "Handlers," which automatically transport and sort devices. Centered on domestic manufacturing sites, the company operates sales subsidiaries in the US, Malaysia, China, and other regions, and has a global presence. Of total net sales of ¥5,567 million, overseas sales accounted for approximately 77%, with Malaysia, the Philippines, and China as the main shipping destinations. Parts, etc. form a stock-type revenue base underpinned by the number of Handlers in operation.
Recent Overview
Handler orders increased for the first time in four periods, while the Tester order backlog fell to its lowest level in six years
In the fiscal year under review (April 2025 to March 2026), Handler net sales rose sharply to ¥2,547 million (up 53.9% year on year) and orders received rose to ¥3,314 million (up 134.9% year on year), driven by the recovery in demand for MAP Handlers used in AI-related semiconductors. Meanwhile, due to the continuing adjustment in the EV market, Tester net sales were ¥1,974 million (down 34.8% year on year), and the order backlog reached its lowest level in six years. INFINEON TECHNOLOGIES (MALAYSIA) SDN BHD was disclosed as a major customer for the first time (net sales of ¥596 million, accounting for 10.7% of the total). Operating profit was ¥301 million (down 30.7% year on year), reflecting both lower sales and lower profit. Based on the medium-term plan "Enjoy2.1," the company introduced a J-ESOP and raised the incentive contribution rate for the employee stock ownership plan.
Key Products
Growth Drivers
- Recovery in demand for MAP Handlers driven by expanding data center investment for AI-related semiconductors (GPUs, ASICs, HBM)
- A sharp recovery in Handler orders received, up 134.9% year on year, driving a return to overall order growth for the first time in four periods
- Continued R&D investment in Testers based on medium- to long-term growth expectations for next-generation power semiconductor markets, including SiC
- Building up stock-type revenue from Parts, etc. in line with the expansion of the Handler installed base
- Securing supply capacity through enhanced production capacity and a strengthened materials procurement system under the medium-term plan "Enjoy2.1"
Risks
- Risk of prolonged weakness in demand for power semiconductor Testers due to a continued slowdown in EV demand
- Handlers have a high proportion of sales dependent on specific customers, leading to significant earnings volatility (sales to INFINEON accounted for 10.7% of net sales)
- Impact on demand and the supply chain from prolonged geopolitical tensions and US-China trade friction
- Risk of restrained semiconductor-related investment due to prolonged inventory adjustment in non-AI fields
- Intensifying competition with overseas manufacturers and industry restructuring trends in the Tester field
Last updated: June 23, 2026