AVAL DATA CORPORATION
6918・Standard Market・Electric Appliances
Contract-Manufactured Products
Core segment responsible for contract development, manufacturing, and sales of semiconductor manufacturing equipment, industrial control equipment, and measuring instruments
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥5,714 million (FY2026, ending March 2026) | ¥7,161 million (FY2025, ended March 2025) | ↓ |
| Segment operating profit | ¥597 million (FY2026, ending March 2026) | ¥1,131 million (FY2025, ended March 2025) | ↓ |
| Segment operating margin | 10.5% (FY2026, ending March 2026) | 15.8% (FY2025, ended March 2025) | ↓ |
| Depreciation and amortization | ¥80 million (FY2026, ending March 2026) | ¥86 million (FY2025, ended March 2025) | ↓ |
| Net sales to major customer (Tokyo Electron Miyagi Limited) | ¥1,938 million (FY2026, ending March 2026) | ¥2,125 million (FY2025, ended March 2025) | ↓ |
| Net sales to major customer (Tokyo Electron Technology Solutions Limited) | ¥1,841 million (FY2026, ending March 2026) | ¥3,148 million (FY2025, ended March 2025) | ↓ |
| Net sales to major customer (Nikon Corporation) | ¥939 million (FY2026, ending March 2026) | — (not disclosed as a major customer in the prior period) | — |
Business Details
Consists of three product categories: control units for semiconductor manufacturing equipment (Semiconductor Manufacturing Equipment Related), customized control units for various industrial equipment and social infrastructure applications (Industrial Control Equipment), and controllers for measuring instruments and control units for communication equipment (Measuring Instruments). Major customers are Tokyo Electron Miyagi Limited (net sales of ¥1,938 million) and Tokyo Electron Technology Solutions Limited (net sales of ¥1,841 million). The company contributes to enhancing the added value of customers' equipment through proposal-based contract development leveraging its Proprietary Products technology.
Recent Overview
Continued inventory adjustments related to semiconductor manufacturing equipment led to a significant decline in both net sales and profit
In the Contract-Manufactured Products segment for FY2026 (ending March 2026), net sales fell significantly to ¥5,714 million (down 20.2% year on year) and segment operating profit declined to ¥597 million (down 47.2% year on year), representing substantial decreases in both revenue and profit. The primary factor was the decline in the mainstay Semiconductor Manufacturing Equipment Related category to ¥4,144 million (down 28.1% year on year). On the other hand, Industrial Control Equipment (¥1,061 million, up 4.5% year on year) and Measuring Instruments (¥507 million, up 33.1% year on year) saw increased sales. Combined net sales to the two Tokyo Electron group companies fell significantly to ¥3,780 million from ¥5,273 million in the prior period, while Nikon Corporation (¥939 million) was newly disclosed as a major customer.
Key Products
Growth Drivers
- Sustained high level of demand for semiconductor manufacturing equipment related to generative AI and HBM applications, raising expectations for a recovery in orders for HBM-related equipment
- Recovery trend in demand for manufacturing equipment across the semiconductor manufacturing equipment industry as a whole, with medium- to long-term demand expansion anticipated
- Demand recovery in the Industrial Control Equipment and Measuring Instruments categories (up 4.5% and 33.1% year on year, respectively, in FY2026)
- Strengthened capability to address potential customer needs through active research and development at a new site dedicated to R&D
- Enhanced added value and development of new customers through proposal-based contract development leveraging Proprietary Products technology
- Emergence of Nikon Corporation as a new major customer (¥939 million), advancing diversification of the customer base
Risks
- Risk of sharp demand fluctuations specific to the semiconductor manufacturing equipment industry (prolonged inventory adjustments)
- Risk of sales concentration in the Tokyo Electron group (the two group companies together accounted for 66.1% of net sales in FY2026, ending March 2026)
- Slowing growth in demand for equipment destined for China and continuation of restrained capital expenditure trends in the FA field
- Risk of stagnation in the industrial equipment market due to the impact of US trade policy
- Risk that the gradual pace of recovery in semiconductor demand for PCs and smartphones will delay a full-fledged recovery in equipment demand
Last updated: June 24, 2026