Overview
Electric Appliances

inspec Inc.

Inspec Inc. is a research and development-oriented manufacturer specializing in the development, manufacturing, sales, and maintenance of automated optical inspection (AOI) equipment for printed circuit boards and semiconductor package substrates. The company serves high-growth markets including data center CPUs/GPUs and precision printed circuit boards used in smartphones and other digital devices. Inspec differentiates itself through proprietary technology and accumulated know-how, targeting global customers with best-in-class inspection solutions.

Market Cap
¥2.61B
US$16.6M
EV
¥3.67B
US$23.4M
Stock¥650▼-4.83%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
11.6
x
LTM EV/EBIT
16.5
x
LTM PER
11.9
x
LTM PBR
3.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-13.4%pt
10012345
Oct 23, 25 – Oct 23, 26StockTOPIX
1Feb 2, 26Post-earnings adjustment selling
2Jun 15, 26SilverCape Investments Limited filed large shareholding report
3Jun 30, 26SilverCape Investments Limited changed stake (5.01%→6.25%)
4Jul 2, 26SilverCape Investments Limited changed stake (6.25%→7.42%)
5Jul 9, 26SilverCape Investments Limited changed stake (7.42%→8.6%)
MC → EV Bridge
2.61BUS$16.6MMarket Cap1.38BUS$8.81M+ Debt0.32BUS$2.02M− Cash0.00BUS$0.00M− Inv. Sec.3.67BUS$23.4MEV
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Performance & Balance
Revenue 5Y (¥B)
1.76US$11.2M'22/42.29US$14.6M'23/41.67US$10.6M'24/42.24US$14.2M'25/42.48US$15.8M'26/4
EBITDA 5Y (¥B)
0.10US$0.66M'22/40.22US$1.42M'23/4-0.04-US$0.23M'24/40.23US$1.49M'25/40.21US$1.31M'26/4
Net Income 5Y (¥B)
0.16US$0.99M'22/40.08US$0.50M'23/4-0.35-US$2.25M'24/4-0.14-US$0.90M'25/40.08US$0.48M'26/4
Capital Structure
37%
63%
EquityD/E 1.68xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
0.70US$4.44M1.77US$11.3M'22/40.61US$3.85M2.20US$14.0M'23/40.74US$4.70M2.34US$14.9M'24/40.54US$3.44M1.67US$10.7M'25/40.51US$3.24M2.24US$14.3M'26/4
Shareholders
Top 10 hold 23.8%
1
Kenkichi OGATA
5.58%
2
Masafumi SUGAWARA
3.78%
3
Ryoko SHIOTANI
2.37%
4
Rakuten Securities, Inc. (Joint Account)
2.25%
5
Kiichi TAKAHASHI
2.22%
6
Akira KOBAYASHI
2.05%
7
Hideaki GOTO
1.74%
8
Jikei Co., Ltd.
1.30%
9
Akio TAKAHASHI
1.26%
10
Seiji OTANI
1.24%
Management
10 officers
Masafumi SUGAWARA
Representative Director, President and Representative Executive Officer
Apr 1974 Joined Morinaga Milk Industry Co., Ltd. Jan 1984 Established business of the Company May 1988 Incorporated the Company; Representative Director Jul 2008 Representative Director, President and Representative Executive Officer Jul 2012 Representative Director, President Jul 2020 Representative Director, President and Representative Executive Officer (current)
1954-03-03
Kiyoko TOMIOKA
Managing Director
Apr 1973 Joined Mitsubishi Electric Corporation Jan 1984 Joined the Company Jul 1997 Director of the Company Jul 2017 Director and Executive Officer, General Manager of Administration Division of the Company Jul 2022 Managing Director (current)
1954-10-23
Akihiko WATANABE
Director and Executive Officer, General Manager of Sales Department
Apr 1985 Joined Marubeni Machinery Co., Ltd. Jan 1999 Joined Adin Research Institute Co., Ltd. Mar 2003 Joined the Company, General Manager of Sales Department May 2016 Executive Officer, General Manager of Sales Division of the Company Jul 2022 Director and Executive Officer, General Manager of Sales Department (current)
1961-07-29
Ryota SUGAWARA
Director, General Manager of President's Office; Chairman and General Manager of Taiwan Yingshi Co., Ltd.
Apr 2006 Joined Tohoku Pioneer Corporation Apr 2012 Joined the Company May 2021 General Manager of President's Office and General Manager of DI Development Department of the Company Jul 2022 Director and General Manager of DI Development Department of the Company May 2024 Director of the Company; Chairman and General Manager of Taiwan Yingshi Co., Ltd. Dec 2025 Director, General Manager of President's Office of the Company; Chairman and General Manager of Taiwan Yingshi Co., Ltd. (current)
1980-05-09
Hideaki KOBAYASHI
Outside Director
Oct 1997 Joined Chuo Audit Corporation (now PwC Japan LLC) Apr 2003 Joined Jafco Co., Ltd. Dec 2007 Established H2R Consulting Co., Ltd.; Representative Director (current) Mar 2008 Assumed office as Audit & Supervisory Board Member, Sun First Co., Ltd. Mar 2014 Established Hideaki Kobayashi Tax Accountant Office; Head (current) Nov 2014 Established Eco no Wa General Incorporated Association; Representative Director (current) Jul 2017 Outside Director of the Company (current)
1973-01-02
Takaaki DOMON
Outside Director
Apr 1978 Joined Hitachi, Ltd. Apr 1981 Joined TDK Corporation Apr 2009 General Manager, Production Technology/Process and Device Development Department, TDK Corporation Apr 2010 Team Leader, Film Device Research and Development Team, RIKEN (concurrent) Apr 2013 Standing Director, Japan Institute of Electronics Packaging Mar 2016 Technical Adviser, TDK Corporation Apr 2017 Chief Advisor, Regional Support Department, The Akita Bank, Ltd. May 2017 Re-appointed Standing Director, Japan Institute of Electronics Packaging Apr 2018 Chief Advisor, Regional Future Strategy Department, The Akita Bank, Ltd. Apr 2019 Chairman, Electronic Components and Packaging Technology Committee, Japan Institute of Electronics Packaging Jul 2019 Outside Director of the Company (current) Jul 2020 Chief Advisor, Sales Support Department, Sales Division, The Akita Bank, Ltd. May 2021 Auditor, Japan Institute of Electronics Packaging Apr 2024 Chief Advisor, Sales Support Department, The Akita Bank, Ltd. Apr 2026 Chief Advisor, Corporate Consulting Department, The Akita Bank, Ltd. (current)
1956-02-28
Sanae SUYAMA
Outside Director
Apr 1979 Joined Yasuda Fire and Marine Insurance Co., Ltd. (now Sompo Japan Insurance Inc.) Apr 2008 General Manager, Medical Insurance Department, Sompo Japan Insurance Inc. Apr 2013 Executive Officer, General Manager of Customer Accident Support Department, Sompo Japan Insurance Inc. Apr 2016 Executive Officer, General Manager of Customer Communication Planning Department, Sompo Japan Insurance Inc. Mar 2017 Retired as Executive Officer, Sompo Japan Insurance Inc. Apr 2017 Representative Director and President, SOMPO Business Insurance Support Co., Ltd. Apr 2019 Representative Director and President, SOMPO Communications Co., Ltd. Jul 2021 Assumed office as Director, Akita Prefecture Jun 2023 Retired as Director, Akita Prefecture Jul 2024 Outside Director of the Company (current)
1957-03-05
Tsutomu GOTO
Full-time Audit & Supervisory Board Member
Nov 1989 Joined the Company May 2005 Manager, General Affairs Section, Administration Department of the Company May 2008 General Manager, Internal Audit Office of the Company May 2011 Chief, Accounting Section, Administration Department of the Company May 2015 Administration Department, Tera Co., Ltd. (now PASS Imaging Inc.); Chief, General Affairs Section, Administration Department of the Company May 2017 In charge of Internal Audit of the Company May 2020 Full-time Audit & Supervisory Board Member of the Company (current) Jul 2020
1958-02-21
Koji FUJITA
Outside Audit & Supervisory Board Member
Apr 1974 Joined The Akita Bank, Ltd. Jun 2009 Joined Akita JCB Card Co., Ltd.; Managing Director Jun 2012 Representative Director and President, Akita JCB Card Co., Ltd. Jun 2014 Representative Director and President, Akita Guarantee Service Co., Ltd. Jul 2016 Full-time Audit & Supervisory Board Member of the Company Jul 2020 Outside Audit & Supervisory Board Member of the Company (current)
1950-09-23
Motohiko SANO
Outside Audit & Supervisory Board Member
Apr 1978 Joined Inabata & Co., Ltd. Sep 1983 Managing Director, Sano Pharmaceutical Co., Ltd. Nov 1987 Representative Director, Sano Pharmaceutical Co., Ltd. Oct 1994 Representative Director, Sano Corporation Co., Ltd. (current) Nov 1999 Representative Director, Sano Pharmacy Co., Ltd. (current) Nov 2003 Representative Director, Sano Holdings Co., Ltd. (current) Jul 2008 Outside Audit & Supervisory Board Member of the Company (current)
1955-04-29
Large Shareholding Reports
Cantor Fitzgerald Europe
2026-08-25
37.02%
SilverCape Investments Limited
2026-07-22
8.60%→9.75%
SilverCape Investments Limited
2026-07-09
7.42%→8.60%
SilverCape Investments Limited
2026-07-02
6.25%→7.42%
SilverCape Investments Limited
2026-06-30
5.01%→6.25%
SilverCape Investments Limited
2026-06-15
5.01%
Masafumi SUGAWARA
2026-04-14
7.29%→4.79%
Annual report (as of 2026-04-30): 3.78%
Hayate Management Co., Ltd.
2026-04-14
9.42%→0.00%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-09-11
Q1 Earnings Flash
FY ending Apr 2027
EDINET
2026-08-25
Large Shareholding Report
EDINET
2026-08-05
Securities Registration Statement
EDINET
2026-07-22
Large Shareholding Report
EDINET
2026-07-17
Annual Securities Report
Period: May 2025 – Apr 2026
EDINET
2026-07-09
Large Shareholding Report
EDINET
2026-07-02
Large Shareholding Report
EDINET
2026-06-30
Large Shareholding Report
EDINET
2026-06-15
Large Shareholding Report
EDINET
2026-04-14
Large Shareholding Report
EDINET
2026-04-14
Large Shareholding Report
TDnet
2026-03-13
Q3 Earnings Flash
FY ending Apr 2026
EDINET
2025-12-12
Semi-Annual Securities Report
Period: May 2025 – Apr 2026
TDnet
2025-09-12
Q1 Earnings Flash
FY ending Apr 2026
EDINET
2025-07-23
Annual Securities Report
Period: May 2024 – Apr 2025
TDnet
2025-03-14
Q3 Earnings Flash
FY ending Apr 2025
EDINET
2024-12-13
Semi-Annual Securities Report
Period: May 2024 – Apr 2025
TDnet
2024-09-11
Q1 Earnings Flash
FY ending Apr 2025
EDINET
2024-07-30
Annual Securities Report
Period: May 2023 – Apr 2024
EDINET
2024-03-08
Quarterly Securities Report
Period: Nov 2023 – Jan 2024
EDINET
2023-12-08
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINET
2023-09-08
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-07-28
Annual Securities Report
Period: May 2022 – Apr 2023
EDINET
2023-03-10
Quarterly Securities Report
Period: Nov 2022 – Jan 2023
EDINET
2022-12-09
Quarterly Securities Report
EDINET
2022-09-09
Quarterly Securities Report
EDINET
2022-07-25
Annual Securities Report
EDINET
2022-03-07
Quarterly Securities Report
EDINET
2021-12-06
Quarterly Securities Report
EDINET
2021-09-06
Quarterly Securities Report
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