ANRITSU CORPORATION
6754・Prime Market・Electric Appliances
Test and Measurement Business
Core business accounting for approximately 59% of Anritsu's revenue. Global leader in communications measuring instruments.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (FY2026 actual, ending March 2026) | ¥68,774 million | ¥70,109 million | ↓ |
| Operating profit (FY2026 actual, ending March 2026) | ¥10,782 million | ¥8,375 million | ↑ |
| Operating profit margin (FY2026 actual, ending March 2026) | 15.7% | 11.9% | ↑ |
| Segment assets (as of end of FY2026, ending March 2026) | ¥101,519 million | ¥96,877 million | ↑ |
| Depreciation and amortization (FY2026, ending March 2026) | ¥4,257 million | ¥4,314 million | ↓ |
| Capital expenditure (FY2026, ending March 2026) | ¥4,092 million | ¥3,066 million | ↑ |
| Revenue (FY2027 forecast, ending March 2027) | ¥85,000 million | ¥68,774 million | ↑ |
| Operating profit (FY2027 forecast, ending March 2027) | ¥16,500 million | ¥10,782 million | ↑ |
Business Details
Serving service providers, network equipment manufacturers, maintenance contractors, and other customers, this business develops, manufactures, and sells Digital Communications & IP Network Measuring Instruments, Optical Communications Measuring Instruments, Mobile Communications Measuring Instruments, RF/Microwave/Millimeter-wave General-purpose Measuring Instruments, and Service Assurance. Positioning data center speed-up demand driven by generative AI adoption as a key growth opportunity, the segment offers optical transceiver measurement for 800GE/1.6TE and products supporting next-generation communication standards.
Recent Overview
Despite a revenue decline, operating margin improved significantly on inventory reduction and cost control; order backlog surged.
In FY2026 (ending March 2026), customer investment was delayed in the first quarter due to the impact of US tariff policy, and the recovery in data center-related demand was insufficient to offset the first-quarter decline, resulting in revenue of ¥68,774 million (down 1.9% year on year). On the other hand, profitability improved significantly through continued inventory reduction and cost control, with operating profit rising to ¥10,782 million (up 28.7% year on year) and operating margin improving to 15.7% (up from 11.9% in the prior period). Orders received increased year on year, and the order backlog at period-end built up substantially to ¥27,471 million from ¥19,683 million at the prior period-end, which is expected to contribute to revenue in the next fiscal year.
Key Products
Growth Drivers
- Accelerating new data center construction and capacity expansion driven by generative AI adoption (expanding measurement demand for 800GE/1.6TE optical transceivers)
- Measurement demand from network equipment manufacturers accompanying progress in high-speed bus development such as PCIe (Gen6)
- Increasing activity in new submarine optical cable laying and all-optical network conversion
- Expanding utilization of 5G (development demand for new standards such as Automotive, Wi-Fi 7, NTN, and eRedCap)
- Stable measurement demand for high-performance, high-value-added smartphones driven by AI smartphone adoption
- Emerging demand for next-generation measuring instruments as 6G R&D advances in earnest (start of specification discussions at 3GPP)
- Profitability improvement through continued inventory reduction and cost control (operating margin recovered to 15.7%)
- Contribution to next fiscal year revenue from period-end order backlog of ¥27,471 million (up 39.6% from the prior period-end)
Risks
- Risk of delayed or curtailed customer investment due to US tariff policy (impact already materialized in the first quarter)
- Weak investment by telecom carriers in measuring instruments for base station construction and maintenance (lull in the 5G investment cycle)
- Demand fluctuation dependent on smartphone shipment volumes and chipset manufacturer trends
- Exchange rate fluctuation risk (high proportion of overseas revenue; assumed exchange rate of ¥150 to USD1)
- Intensifying price and technology competition with competitors
- Impact on economic activity and customer investment from geopolitical risks such as the Middle East situation (uncertainty from the second quarter onward)
Last updated: June 23, 2026