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Overview

Machinery

NPC Incorporated

NPC Incorporated is a Japanese FA equipment manufacturer specializing in solar cell manufacturing equipment, solar panel recycling systems, and industrial automation devices serving industries including solar energy, automotive, electronics, and waste processing. The company offers a full lifecycle suite of solar-related services encompassing panel inspection, reuse trading, and recycling, alongside a proprietary national maintenance network 'Solar Wellness.' Leveraging approximately 30 years of accumulated technologies—including vacuum, coating, bonding, and inspection technologies—NPC also provides next-generation perovskite solar cell inkjet coating equipment and operates an artificial-light plant factory producing leafy vegetables in Ehime Prefecture.

Activists: LIM Advisors Limited 7.00%

Market Cap

¥13.6B

US$86.3M

¥9.93B

US$63.2M

Stock¥647▼-1.67%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

9.3

LTM EV/EBIT

11.7

LTM PER

28.2

LTM PBR

1.3

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-30.6%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Jul 13, 26Q3 FY2026/08 earnings announced

2Sep 30, 26LIM Advisors Limited changed stake (6.0%→7.0%)

3Oct 8, 26Full-year FY2026/08 earnings announced

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

100%

EquityD/E 0.00xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 28.8%

as of 2026-02-28 · Source: Annual Securities Report

Masafumi ITO

6.26%

MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

4.93%

Custody Bank of Japan, Ltd. (Trust Account)

3.84%

STATE STREET BANK AND TRUST COMPANY 505050 (Standing Proxy: Mizuho Bank, Ltd.)

2.58%

THE BANK OF NEW YORK MELLON 140040 (Standing Proxy: Mizuho Bank, Ltd.)

2.36%

Shigeru YOSHIDA

2.25%

Rakuten Securities, Inc. (Joint Account)

2.20%

MUFG Bank, Ltd.

1.53%

BNP PARIBAS LUXEMBOURG/2S/JASDEC/ FIM/LUXEMBOURG FUNDS/UCITS ASSETS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

1.50%

Yoshio TONARI

1.35%

Management

8 officers

Masafumi ITO

Representative Director, President

Apr 1986 Joined Ito Man Co., Ltd. Jul 1992 Joined Nihon Polycello Kogyo Co., Ltd. Dec 1992 Joined the Company Sep 1993 Director, the Company Aug 1996 Director, NPC America Corporation (currently NPC America Automation Inc.) (current) Sep 1996 General Manager, Technology Department, Solar Cell Related Division, the Company Jan 2000 Representative Director, Mekuto Co., Ltd. Apr 2002 Director, Mekuto Co., Ltd. Jun 2002 Director, Nihon Vacuum System Co., Ltd. Sep 2005 Deputy General Manager, Solar Cell Related Division, the Company Jul 2008 General Manager, Solar Cell Related Division, the Company Nov 2011 Representative Director, President, the Company (current)

1962-10-13

Kazuo HIROSAWA

Senior Managing Director, General Manager, Administration Division

Apr 1985 Joined Itoman Engineering Co., Ltd. Sep 1992 Joined Nihon Polycello Kogyo Co., Ltd. Dec 1992 Joined the Company Sep 1995 General Manager, Technology Department, Packaging Related Division, the Company Apr 2006 General Manager, Packaging Related Division, the Company Sep 2007 General Manager, Administration Division, the Company Nov 2007 Director, the Company Apr 2008 General Manager, Accounting Department, the Company Jul 2009 General Manager, Matsuyama Administration Department, the Company Sep 2010 Audit & Supervisory Board Member, NPC China Co., Ltd. Aug 2012 General Manager, Accounting Department, the Company Apr 2013 General Manager, General Affairs Department, the Company Nov 2013 In charge of Information Disclosure, the Company (current) Oct 2014 General Manager, Sales Administration Department, the Company Jun 2016 General Manager, General Affairs Department, the Company Sep 2016 Senior Managing Director, the Company (current) Nov 2018 General Manager, Administration Division, the Company (current)

1962-01-24

Toshiyuki YANAI

Managing Director, General Manager, Business Division

Apr 1990 Joined Mazda Motor Corporation Aug 1992 Joined Asahi Giken Ltd. Nov 1997 Joined Techs Co., Ltd. Jan 2000 Joined Mekuto Co., Ltd. Sep 2005 Joined the Company; General Manager, Manufacturing Department, Solar Cell Related Division Jun 2006 General Manager, Development Department, Solar Cell Related Division, the Company Jul 2008 Deputy General Manager, Solar Cell Related Division, the Company Nov 2010 Director, the Company Dec 2011 Deputy General Manager, Solar Cell Business Division, the Company Sep 2016 Managing Director, the Company (current); General Manager, Solar Cell Business Division; Manager, Business Management Office; General Manager, Equipment-Related Business Department; General Manager, Environment-Related Business Department Sep 2017 General Manager, Business Division, the Company (current)

1972-02-12

Kenji TERADA

Director

Apr 1975 Joined IBM Japan, Ltd. Oct 2002 General Manager, Manufacturing Competency Program, Yamato Site, IBM Japan, Ltd. Jan 2005 Joined Mettler-Toledo K.K.; General Manager, Technical Services Business Division Oct 2005 Joined Komatsu Light Works Co., Ltd.; Plant Manager, Shiga No. 2 Plant Jan 2007 Joined IDEC Corporation; Executive Officer, General Manager, Production Division Apr 2010 General Manager (Special Assignment), Marketing Division, IDEC Corporation Apr 2012 General Manager, Brazil Market Development, Marketing Division, IDEC Corporation Oct 2012 Retired from IDEC Corporation Nov 2014 Director, the Company (current)

1952-10-09

Satoshi HIRAMACHI

Director

Apr 1980 Joined Sapporo Holdings Ltd. (formerly Sapporo Breweries Ltd.) Mar 2005 General Manager, Human Resources & General Affairs Department, Sapporo Holdings Ltd. Mar 2010 Group Executive Officer, Sapporo Holdings Ltd.; Representative Director, President, Sapporo Group Management Co., Ltd. Mar 2016 Advisor, Sapporo Holdings Ltd. Mar 2018 Retired as Advisor, Sapporo Holdings Ltd. Nov 2019 Director, the Company (current)

1956-03-16

Yasuhisa SERA

Full-time Audit & Supervisory Board Member

Apr 1978 Joined Kanebo Cosmetics Sales Co., Ltd. (currently Kanebo Cosmetics Inc.) Mar 2015 Full-time Audit & Supervisory Board Member, Satis Pharmaceutical Co., Ltd. Jan 2017 Joined the Company; General Affairs & Legal Group, General Affairs Department Nov 2017 Full-time Audit & Supervisory Board Member, the Company (current)

1956-01-11

Teruaki KAKIMOTO

Audit & Supervisory Board Member

Apr 1985 Joined Mitsui & Co., Ltd. Apr 1995 Registered as attorney-at-law Jan 1998 Opened Kakimoto Law Office (current) Sep 2001 Director, Hobe Co., Ltd. (current) Nov 2006 Audit & Supervisory Board Member, the Company (current)

1962-12-21

Hiroyuki SHINBO

Audit & Supervisory Board Member

Sep 1986 Joined Shinko Audit Corporation Apr 1992 Registered as Certified Public Accountant Jul 1995 Opened Hiroyuki Shinbo Certified Public Accountant Office (current) Dec 2001 Participated in establishing Chiyoda International Certified Public Accountants Joint Office as Partner Feb 2005 Registered as Certified Tax Accountant (registration cancelled Dec 2023) Nov 2014 Audit & Supervisory Board Member, the Company (current)

1959-04-29

Large Shareholding Reports

LIM Advisors Limited

2026-09-30

6.00%→7.00%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-07-23

7.21%→8.30%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-04-07

6.37%→7.21%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-03-23

5.14%→6.37%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-03-05

5.14%

LIM Advisors Limited

2025-10-17

6.00%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-10-07

Full-Year Earnings Flash

FY ending Aug 2026

NPC Incorporated

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