TAMAGAWA HOLDINGS CO.,LTD.
6838・Standard Market・Electric Appliances
Electronic & Communication Equipment Business
Core business centered on high-frequency technology, focused on the government/public sector, 5G, and semiconductor markets
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Cumulative First Half, FY2026 (ending March 2026)) | ¥3,449 million | ¥2,255 million | ↑ |
| Segment Profit (Operating Profit) (Cumulative First Half, FY2026 (ending March 2026)) | ¥900 million | ¥313 million | ↑ |
| Order Backlog (Cumulative First Half, FY2026 (ending March 2026)) | ¥3,881 million | — | ↑ |
| Revenue (Prior Full Fiscal Year) | ¥5,029 million | — | — |
| Segment Profit (Prior Full Fiscal Year) | ¥574 million | — | — |
Business Details
The group's flagship segment, engaged in the manufacture and sale of radio equipment, measuring instruments, information equipment, and industrial equipment. Sales to government and public sector clients account for more than half of revenue, and the segment also handles 5G communication infrastructure sharing-related equipment and FA/measurement equipment (Semiconductor Reliability Test Equipment). The new Vietnam plant (operational from October 2025) is being leveraged to achieve both low cost and high quality through mass production. Major customers include NEC Corporation (23.8% of revenue) and Toshiba Corporation (15.3% of revenue).
Recent Overview
First-half revenue up 53% and segment profit up 187%, showing rapid expansion
In the first half of FY2026 (ending March 2026) (November 2025 to April 2026), the segment achieved revenue of ¥3,449 million (up 53.0% year on year) and segment profit of ¥900 million (up 187.3% year on year). Contributing factors included the transition of core social infrastructure products to the mass-production phase, large orders in mobile infrastructure, and the smooth ramp-up of the new Vietnam plant. The company has also purchased land for the construction of a second plant near its headquarters, further advancing its response to localized, on-site mass production.
Key Products
Growth Drivers
- Rapid demand expansion and increased large-scale project orders in the government/public sector-related market, driven by increased national budgets
- Expanded scale benefits from the transition of core social infrastructure products to the mass-production phase
- Steady growth in sales of related equipment driven by expanded use of infrastructure sharing by telecom carriers
- Increased production capacity and the achievement of both low cost and high quality through the new Vietnam plant (operational from October 2025)
- Increased demand for Semiconductor Reliability Test Equipment driven by expanded national policy investment in the semiconductor industry
- Establishment of a localized, on-site mass-production system and improved supply stability through the acquisition of land for a second plant
Risks
- Extended parts procurement lead times and increased inventory due to the global lengthening of delivery times for semiconductors and non-ferrous metal materials
- Risk of profit pressure from persistently high material costs, energy costs, and logistics costs
- Risk of delays in establishing production capacity due to difficulty securing technical personnel (design and production staff)
- Risk of curtailed capital investment by customer companies due to the impact of US trade policy
- Ensuring production capacity and supply stability to keep pace with order growth (risk of disruptions in materials supply)
Last updated: January 28, 2026