Kokusai Electric Corp
F:69B
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Kokusai Electric Corp
F:69B
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Kokusai Electric Corp
Kokusai Electric makes semiconductor manufacturing equipment, especially tools used to heat, coat, and treat silicon wafers during chip production. Its machines help chipmakers build the thin layers and structures that go into memory chips and logic chips. In simple terms, the company sells the equipment that chip factories need to make chips, not the chips themselves. Its main customers are semiconductor manufacturers and memory makers that buy this equipment for their fabs. Kokusai earns money by selling the tools themselves and by providing parts, maintenance, upgrades, and technical support after installation. Because these machines are expensive and tightly linked to the customer’s production process, the business depends on long relationships with chipmakers and on winning repeat orders when factories expand or refresh their lines. What makes Kokusai’s role distinctive is that it sits in a very specialized part of the chip supply chain. Its equipment has to work with extreme precision and reliability, so customers care a lot about process quality and support. That gives the company a focused position as a supplier of critical manufacturing steps rather than a broad industrial equipment maker.
Kokusai Electric makes semiconductor manufacturing equipment, especially tools used to heat, coat, and treat silicon wafers during chip production. Its machines help chipmakers build the thin layers and structures that go into memory chips and logic chips. In simple terms, the company sells the equipment that chip factories need to make chips, not the chips themselves.
Its main customers are semiconductor manufacturers and memory makers that buy this equipment for their fabs. Kokusai earns money by selling the tools themselves and by providing parts, maintenance, upgrades, and technical support after installation. Because these machines are expensive and tightly linked to the customer’s production process, the business depends on long relationships with chipmakers and on winning repeat orders when factories expand or refresh their lines.
What makes Kokusai’s role distinctive is that it sits in a very specialized part of the chip supply chain. Its equipment has to work with extreme precision and reliability, so customers care a lot about process quality and support. That gives the company a focused position as a supplier of critical manufacturing steps rather than a broad industrial equipment maker.
Results: Kokusai Electric said both revenue and profit fell year on year in fiscal 2026, but the fourth quarter and full-year results both came in above the company’s revised forecast.
Bookings: Bookings were strong, with about JPY 104 billion in the fourth quarter and JPY 264 billion for the full year, about JPY 30 billion above plan.
Dividend: The company raised the year-end dividend by JPY 1 to JPY 19, bringing the annual dividend to JPY 37.
Outlook: For fiscal 2027, management guided to revenue up 19%, adjusted operating profit up 27%, and adjusted net income up 26%.
AI tailwind: Management said stronger-than-expected AI-related investment lifted its calendar 2026 WFE market growth view to 15% from 10% plus alpha.
Capital returns: Kokusai Electric ended the year in a net cash position of JPY 6.6 billion and announced a share buyback of up to JPY 5.3 billion.
