TOKYO SEIMITSU CO.,LTD.
7729・Prime Market・Precision Instruments
Business
Tokyo Seimitsu Co., Ltd. (corporate brand: ACCRETECH) operates two segments: the "Semiconductor Production Equipment" business, which manufactures and sells processing and inspection equipment such as Wafer Probing Machines, Dicing Machines, and grinding equipment for semiconductor manufacturing processes, and the "Measuring Instruments" business, which manufactures and sells precision measuring instruments such as Coordinate Measuring Machines (CMM) and surface roughness measuring machines. The group is composed of the company along with 27 consolidated subsidiaries and 2 affiliated companies, and has built a global structure with sales and service subsidiaries across the Americas, Europe, and Asia. Major customers span the manufacturing industry broadly, including semiconductor manufacturers, electronic component manufacturers, automobile manufacturers, and machine parts manufacturers. Consolidated net sales for FY2026 (ending March 2026) reached ¥166,839 million, marking a new record high.
Business Model
The Group develops and manufactures Semiconductor Production Equipment and Measuring Instruments in-house, leveraging its long-cultivated precision measurement and precision processing technologies, and delivers them to customers through a global sales and service network. In addition to one-time revenue from equipment sales, the Group also has recurring revenue sources such as consumables supply, after-sales service, and contract evaluation services (charge/discharge testing). Overseas sales account for more than half of consolidated net sales, and a direct sales structure through local subsidiaries underpins the revenue base.
Company Strengths
Against a backdrop of expanding demand for generative AI and HPC, inquiries for probers for HBM applications and grinders for AI packaging processes remained firm. In FY2026 (ending March 2026), the Semiconductor Production Equipment segment posted net sales of ¥127,878 million (up 12.7% year on year) and operating profit of ¥28,404 million (up 16.8% year on year), both renewing their previous peaks, with increased shipments of high value-added probers contributing to margin improvement.
At the end of FY2026 (ending March 2026), the equity ratio stood at 76.3% (up 3.1 percentage points from the previous fiscal year-end), total net assets were ¥192,916 million, and cash and cash equivalents stood at ¥53,052 million. With a financial structure close to debt-free and continuous generation of operating cash flow of ¥25,012 million, the company has the financial independence to fund capital expenditure, R&D, and shareholder returns with its own funds.
The company leverages common core technologies—precision measurement technology and precision processing technology—across both segments to pursue mutual synergies. Annual R&D expenses of ¥12,037 million (FY2026, ending March 2026) were invested in continued improvement of products such as the Wafer Probing Machine, Wafer Dicing Machine, and Coordinate Measuring Machine (CMM), as well as the development of new models. The Measuring Instruments division also renewed its previous peaks in both orders received and net sales in FY2026 (ending March 2026).
ENVALITH's Perspective
Performance Trend
Revenue bottomed out at ¥134,680 million in FY2024 (ended March 2024), then increased for two consecutive fiscal years, reaching a record high of ¥166,839 million in FY2026 (ending March 2026). Operating profit also recovered to ¥33,738 million, approaching the FY2023 (ended March 2023) level of ¥34,494 million. On the other hand, net profit attributable to owners of the parent decreased to ¥24,739 million from ¥25,637 million in the prior period, and return on equity (ROE) declined from 15.5% to 13.5% (restated). As an external factor, expanding demand for generative AI and HPC is underpinning orders for Semiconductor Production Equipment, but currency fluctuations, US-China trade friction, and tightening export regulations remain downside risks. In terms of financial position, on a restated basis, total assets stood at ¥250,533 million, and the equity ratio remained healthy at 76.3%.
Growth Strategy
Targeting sales of ¥185,000 million in FY2028 (ending March 2028) through capturing generative AI demand and construction of the Nagoya plant
The company aims to capture increasing inquiries for inspection equipment for HBM and processing equipment for AI packaging processes, further expanding sales and orders in the Semiconductor Production Equipment segment. Segment assets for FY2026 (ending March 2026) stood at ¥190,102 million (restated), an increase from the previous period, with investment ongoing.
The Nagoya plant is under construction to respond to long-term growth in demand for processing equipment. Through expanded production capacity, the company aims to accelerate the pace of order backlog fulfillment and strengthen delivery-time competitiveness. Property, plant and equipment for FY2026 (ending March 2026) increased by ¥5,970 million year-on-year, confirming progress in capital expenditure.
In addition to replacement demand for automotive and machinery components, the company is promoting the acquisition of new demand for Secondary Battery Charge/Discharge Test Systems and X-ray CT Systems for NEVs, as well as in the aerospace and defense fields. It also aims to diversify service revenue by expanding contracted charge/discharge test evaluation services.
While capturing steady demand from China, which is advancing domestic production of various semiconductor devices and electronic components, the company is implementing countermeasures against risks from U.S.-China trade friction and tightening export regulations. Diversifying customers and regions to minimize the impact of changes in the regulatory environment on business performance remains a challenge.
Last updated: July 19, 2026