ADTEC PLASMA TECHNOLOGY CO.,LTD.
6668・Standard Market・Electric Appliances
Business
Adtec Plasma Technology Co., Ltd. is a specialist power supply manufacturer headquartered in Fukuyama City, Hiroshima Prefecture, founded in 1985 and listed in 2004. In its core Semiconductor & LCD-Related Business, the company designs, manufactures, and sells High-Frequency Power Supplies for Plasma, Matching Units, Measuring Instruments, and other equipment mounted on manufacturing equipment used in semiconductor and LCD substrate production processes. In addition to its domestic head office, the company operates subsidiaries in the United States, the United Kingdom, Vietnam, South Korea, Taiwan, and China, with global semiconductor manufacturing equipment makers as its main customers. As a second pillar, its subsidiary IDX Corporation handles the specialty power supply business, providing DC Power Supplies, Pulse Power Supplies, Microwave Power Supplies, and other products for the Research Institutions & University-Related Business. Consolidated net sales for FY2025 (ending August 2025) were ¥12,680 million.
Business Model
The company designs, manufactures, and sells High-Frequency Power Supplies for Plasma, Matching Units, Measuring Instruments, and other products to semiconductor and LCD manufacturing equipment makers, and generates revenue by providing Technical Services. Major customers include leading global equipment manufacturers such as ASM Front-End Manufacturing Singapore (12.7% of net sales) and Beijing E-Town Semiconductor Technology (13.2% of net sales). The company aims to reduce production costs and expand production capacity by internalizing sheet-metal processing at its Vietnamese subsidiary, while investing ¥769 million in R&D expenses to maintain product competitiveness.
Company Strengths
The company has established subsidiaries in six countries—the United States, the United Kingdom, Vietnam, South Korea, Taiwan, and China—and has built direct trading relationships with world-class semiconductor manufacturing equipment makers such as Applied Materials, ASM Front-End Manufacturing Singapore, and Beijing E-Town Semiconductor Technology. In FY2025 (ending August 2025), the top two customers alone accounted for approximately 25.9% of net sales.
In FY2025 (ending August 2025), the ordinary income margin on net sales stood at a high 15.0% (versus 14.3% in the previous fiscal year). The company achieved operating income of ¥1,808 million (up 21.8% year on year) and ordinary income of ¥1,897 million (up 17.7% year on year). Improved production utilization rates and in-house production effects at the Vietnamese subsidiary contributed to the margin improvement.
In FY2025 (ending August 2025), the group's total R&D expenses amounted to ¥769 million (¥711 million for the Semiconductor & LCD-Related Business and ¥57 million for the Research Institutions & University-Related Business). The company also conducts joint research with universities and other companies, and actively files for intellectual property rights such as patents. It has accumulated over 30 years of technical expertise since it began selling High-Frequency Power Supplies for Plasma in 1991.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years progressed as follows: FY2021 ¥8,003 million → FY2022 ¥12,337 million → FY2023 ¥12,498 million → FY2024 ¥11,298 million → FY2025 ¥12,680 million. For FY2026 (ending August 2026), the full-year forecast calls for revenue growth to ¥13,600 million (up 7.2% year on year), but cumulative Q3 revenue was ¥9,075 million, down 11.8% year on year. This was affected by the drop-off of a large-scale project in the Research Institutions & University-Related Business (IDX) that had been recorded in the same period the previous year. As an external factor, the order environment deteriorated rapidly in the second half of the previous fiscal year due to the impact of U.S. tariff policy, but orders recovered sharply from the second quarter onward as concerns over reciprocal tariffs eased and AI- and cloud-related investment continued. Cumulative Q3 orders received reached ¥13,698 million (up 53.4% year on year), and the order backlog reached ¥8,878 million (up 98.9% year on year), both of which have been building up, and an acceleration in revenue recognition is expected from Q4 onward.
Growth Strategy
Aim to shift toward a stable growth business structure through deepening plasma technology and strengthening the global production system
Through new product PR activities at domestic and overseas exhibitions, the company aims to stimulate customer interest and promote the acquisition of new product evaluation projects. To capture demand for high-performance semiconductors related to AI and cloud computing, the company is strengthening proposal-based sales activities targeting semiconductor manufacturing equipment makers for servers and data centers.
Enhancing production capacity and reducing costs through in-house sheet metal processing at the Vietnam subsidiary (ADTEC Plasma Technology Vietnam Co., Ltd.). Continuing to optimize the supply system by leveraging global sites (the United States, Europe, South Korea, Taiwan, China, and Vietnam).
Proceeding with the manufacturing of the large-scale power supply project for medical equipment received as an order in the previous fiscal year, while continuing efforts to acquire new large-scale projects in this field. In addition to stable revenue from power supplies and Maintenance Services for silicon pulling equipment, the company plans to build a new revenue base by strengthening sales for general industrial applications.
Last updated: July 17, 2026