Overview
Electric Appliances

JAPAN ELECTRONIC MATERIALS CORPORATION

Japan Electronic Materials Corporation (JEM) is a leading developer, manufacturer, and seller of probe cards used in semiconductor wafer testing, offering cantilever-type (C-type) and advanced probe cards including vertical (V-type) and MEMS-based (M-type) product lines. The company serves global semiconductor manufacturers across memory and logic applications, with a product portfolio spanning the CE, VT, VS, VE, MC, ML, and MT series. JEM also manufactures electronic tube components such as cathodes and filaments, though semiconductor inspection parts represent the core business.

Market Cap
US$542M
¥86.6B
EV
US$420M
¥67.1B
StockUS$37.01(¥5,910)▲+0.51%
US$1 = ¥159.70 (2026-11-12)
LTM EV/EBITDA
5.5
x
LTM EV/EBIT
6.3
x
LTM PER
10.9
x
LTM PBR
1.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+39.2%pt
100123
Nov 13, 25 – Nov 13, 26StockTOPIX
1Mar 9, 26Oil surges to near $120 a barrel
2Apr 8, 26US-Iran two-week ceasefire deal
3Nov 10, 26Full-year guidance revised
MC → EV Bridge
US$542M¥86.6BMarket CapUS$43.0M¥6.87B+ DebtUS$164M¥26.2B− CashUS$0.76M¥0.12B− Inv. Sec.US$420M¥67.1BEV
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Performance & Balance
Revenue 5Y (US$)
US$148M¥23.6B'22/3US$130M¥20.8B'23/3US$109M¥17.5B'24/3US$149M¥23.8B'25/3US$184M¥29.4B'26/3
EBITDA 5Y (US$)
US$37.4M¥5.97B'22/3US$27.0M¥4.31B'23/3US$12.1M¥1.94B'24/3US$36.2M¥5.78B'25/3US$54.3M¥8.68B'26/3
Net Income 5Y (US$)
US$23.8M¥3.80B'22/3US$16.4M¥2.61B'23/3US$3.89M¥0.62B'24/3US$21.6M¥3.45B'25/3US$34.1M¥5.45B'26/3
Capital Structure
88%
EquityD/E 0.14xDebt
Liquidity vs Debt 5Y (US$)▲ Net Cash
CashInv. Sec.Debt
US$74.3M¥11.9BUS$32.5M¥5.19B'22/3US$80.4M¥12.8BUS$26.2M¥4.18B'23/3US$89.5M¥14.3BUS$35.4M¥5.66B'24/3US$76.5M¥12.2BUS$36.8M¥5.88B'25/3US$170M¥27.2BUS$47.2M¥7.54B'26/3
Business Segments
2026/03 · US$ (¥B)
99%
Semiconductor testing device related
Revenue
US$182M(¥29.1B)
Segment profit
US$57.2M(¥9.14B)31.4%
0.8%
Electron tube parts related
Revenue
US$1.40M(¥0.22B)
Segment profit
US$0.05M(¥0.01B)3.6%
Adjustments
Revenue
—
Segment profit
-US$11.9M(¥-1.90B)
No segment changes in the last 5 years
Shareholders
Top 10 hold 34.3%
1
The Master Trust Bank of Japan, Ltd.
10.99%
2
Custody Bank of Japan, Ltd.
4.01%
3
Kazumasa OKUBO
3.48%
4
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
3.20%
5
Okubo Kosan Ltd.
2.91%
6
MUFG Bank, Ltd.
2.11%
7
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
2.01%
8
HSBC HONG KONG-TREASURY SERVICES A/C ASIAN EQUITIES DERIVATIVES (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.00%
9
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.81%
10
JP JPMSE LUX RE UBS AG LONDON BRANCH EQ CO (Standing Proxy: MUFG Bank, Ltd.)
1.80%
Management
7 officers
Teruhisa SAKATA
Representative Director, President and Executive Officer
Apr 1986 Joined the Company Apr 2001 General Manager, Development Department II Apr 2009 General Manager, Technology Division Jul 2010 General Manager, Product Technology Division Jun 2013 Director, General Manager, Product Technology Division Apr 2014 Director, General Manager, Sales Division, and General Manager, L Product Division Chairman and Representative Director, JEM Taiwan Probe Corp. Jun 2017 Executive Officer, in charge of Second Product Division; General Manager, Second Product Division Sep 2017 Executive Officer, in charge of Second Product Division and MEMS Division; General Manager, MEMS Division and Second Product Division Jun 2019 Managing Executive Officer, in charge of MEMS Division; General Manager, MEMS Division Jun 2022 Managing Director, Managing Executive Officer, in charge of Quality Jun 2023 Representative Director, President and Executive Officer, in charge of Quality Jun 2024 Representative Director, President and Executive Officer (current)
1962-04-11
Yoshiyuki MIYAMOTO
Senior Managing Director, Senior Managing Executive Officer, General Manager, MEMS Division, in charge of MEMS Division
Apr 1980 Joined Hitachi, Ltd. Apr 2002 General Manager, Production Engineering Department, Naka Works, Hitachi, Ltd. Apr 2003 Joined Renesas Technology Corp.; General Manager, Production Engineering Department, Naka Works Apr 2005 General Manager, Manufacturing Department, Naka Works Oct 2007 Works Manager, Saijo Works Apr 2010 Joined Renesas Electronics Corporation; Works Manager, Saijo Works Apr 2012 Works Manager, Naka Works Apr 2014 Joined Renesas Semiconductor Manufacturing Co., Ltd.; Representative Director, President Sep 2020 Joined the Company; Chief Expert, MEMS Division Jun 2021 Executive Officer, General Manager, MEMS Division Jun 2022 Senior Executive Officer, General Manager, MEMS Division, in charge of MEMS Division Jun 2023 Managing Director, Managing Executive Officer, General Manager, MEMS Division, in charge of MEMS Division Jun 2025 Senior Managing Director, Senior Managing Executive Officer, General Manager, MEMS Division, in charge of MEMS Division (current)
1958-01-04
Keiichi RYU
Director, Senior Executive Officer, General Manager, Product Technology Division, in charge of Product Technology
Apr 1991 Joined Toshiba Corporation Jan 2006 Seconded to Toshiba America Electronic Components, Inc. Jun 2010 Toshiba Corporation, Memory Division, Memory Application Technology Department Jun 2015 General Manager, Memory Application Technology Department I, Memory Division, Toshiba Corporation Apr 2017 Transferred to Toshiba Memory Corporation (now Kioxia Corporation) Jun 2021 Joined the Company; Executive Officer, General Manager, Sales Division Feb 2022 Chairman and Representative Director, JEM EUROPE S.A.R.L. (current) Jun 2022 Director, JEM AMERICA CORP. (current); Chairman and Representative Director, JEM TAIWAN PROBE CORP.; Chairman and Representative Director, JEM Shanghai Co., Ltd.; President and Representative Director, JEMCO Co., Ltd.; Representative Director, ASIA Pte. Ltd. (current) Jun 2023 Senior Executive Officer, General Manager, Product Technology Division, in charge of Product Technology Jun 2025 Director, Senior Executive Officer, General Manager, Product Technology Division, in charge of Product Technology (current)
1969-03-12
Wataru MIYAJIMA
Director
Oct 2000 Passed the judicial scrivener examination Apr 2002 Joined Kanda Office of Judicial Scrivener and Land Surveyor Mar 2005 Joined Chuo Aoyama PwC Consulting Co., Ltd. Aug 2005 Registered as judicial scrivener; established independent practice Sep 2010 Passed the bar examination Dec 2011 Registered as attorney-at-law; joined Frontier Law Office Jan 2014 Representative Attorney, Frontier Law Office (current) Jun 2015 Outside Director, Universal Sound Design Inc. Sep 2015 Outside Audit & Supervisory Board Member, Wilplus Holdings Inc. Jun 2023 Director of the Company (current)
1974-09-05
Yasutaka ADACHI
Director, Audit and Supervisory Committee Member (Full-time)
Jan 1998 Joined the Company Jul 2004 Senior Manager, Accounting, the Company Apr 2008 Deputy General Manager, Administration Division Jan 2009 President and Director, JEM Shanghai Co., Ltd. Jun 2009 Director, General Manager, Administration Division Jun 2017 Managing Director, Managing Executive Officer, in charge of Administration (Compliance), General Manager, Administration Division Jun 2019 Senior Managing Director, Senior Managing Executive Officer, in charge of Administration (Compliance), General Manager, Administration Division Mar 2021 Outside Director (Audit and Supervisory Committee Member), Sanso Electric Co., Ltd. (current) Jun 2023 Director (Full-time Audit and Supervisory Committee Member) of the Company (current)
1951-09-17
Yukikazu HAMADA
Director, Audit and Supervisory Committee Member
Feb 1986 Registered as certified public tax accountant; established Hamada Tax Accounting Office Head, Hamada Tax Accounting Office (current) Jun 1996 Audit & Supervisory Board Member of the Company Jun 2004 Retired from the same position May 2007 Established Process Support Co., Ltd.; Representative Director, President (current) Jun 2009 Audit & Supervisory Board Member of the Company Jun 2017 Director (Audit and Supervisory Committee Member) of the Company (current)
1955-04-09
Erika CHIBASAKURA
Director, Audit and Supervisory Committee Member
Jun 1998 Joined Fitzpatrick, Cella, Harper & Scinto Feb 2001 Admitted to the New York State Bar Oct 2002 Joined Ropes & Gray LLP Jun 2010 Joined Dow Corning Toray Co., Ltd.; General Manager, Intellectual Property Department Jun 2018 Joined Dow Chemical Japan Ltd.; General Manager, Intellectual Property Department Jun 2023 Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2024 Outside Director, GSI Creos Corporation Jun 2026 Outside Director (Audit and Supervisory Committee Member), GSI Creos Corporation (current)
1961-07-02
Large Shareholding Reports
Effissimo Capital Management Pte. Ltd.
2026-11-13
9.91%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2026-09-24
4.49%→3.43%
Morgan Stanley & Co. International plc
2026-08-19
3.73%→2.64%
Mitsubishi UFJ Trust and Banking Corporation
2026-08-18
3.67%→2.90%
Morgan Stanley & Co. International plc
2026-08-06
3.69%→3.73%
Morgan Stanley & Co. International plc
2026-07-22
3.69%
Nomura Asset Management Co., Ltd.
2026-07-06
5.46%→5.30%
Nomura Asset Management Co., Ltd.
2026-06-22
5.96%→5.46%
Nomura Asset Management Co., Ltd.
2026-06-05
5.26%→5.96%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2026-06-04
4.49%
Nomura Asset Management Co., Ltd.
2026-05-19
5.48%→5.26%
Nomura Asset Management Co., Ltd.
2026-04-22
5.96%→5.48%
Nomura Asset Management Co., Ltd.
2026-04-03
6.76%→5.96%
Kana OKUBO
2026-04-01
—
Okubo Kosan Co., Ltd.
2026-03-25
3.37%→3.37%
Nomura Asset Management Co., Ltd.
2026-03-23
6.51%→6.76%
Kazumasa OKUBO
2026-03-13
4.04%→4.04%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-09-30): 3.48%
Kazumasa OKUBO
2026-03-12
4.04%→4.04%
Annual report (as of 2026-09-30): 3.48%
Nomura Asset Management Co., Ltd.
2026-03-06
9.35%→6.51%
Nomura Asset Management Co., Ltd.
2026-02-03
9.38%→9.35%
Nomura Asset Management Co., Ltd.
2026-01-21
9.09%→9.38%
Schroder Investment Management (Japan) Ltd.
2025-11-20
8.30%→2.72%
Nomura Asset Management Co., Ltd.
2025-11-20
8.07%→9.09%
Nomura Asset Management Co., Ltd.
2025-11-06
6.88%→8.07%
Schroder Investment Management (Japan) Ltd.
2025-11-06
9.40%→8.30%
Nomura Asset Management Co., Ltd.
2025-10-06
8.63%→6.88%
Mitsubishi UFJ Trust and Banking Corporation
2025-09-16
2.64%→3.67%
Nomura Asset Management Co., Ltd.
2025-09-09
10.00%→8.63%
Schroder Investment Management (Japan) Ltd.
2025-09-04
8.07%→9.40%
Nomura Asset Management Co., Ltd.
2025-08-19
9.85%→10.00%
Nomura Asset Management Co., Ltd.
2025-08-06
9.90%→9.85%
Nomura Asset Management Co., Ltd.
2025-08-05
9.91%→9.90%
Nomura Asset Management Co., Ltd.
2025-07-31
10.18%→9.91%
Nomura Asset Management Co., Ltd.
2025-07-29
9.87%→10.18%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-11-13
Large Shareholding Report
EDINET
2026-11-12
Semi-Annual Securities Report
Period: Apr 2026 – Mar 2027
TDnet
2026-11-10
業績予想の修正
FY ending Mar 2027
TDnet
2026-11-10
Q2 Earnings Flash
EDINET
2026-09-24
Large Shareholding Report
EDINET
2026-08-19
Large Shareholding Report
EDINET
2026-08-18
Large Shareholding Report
TDnet
2026-08-07
業績予想の修正
FY ending Mar 2027
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-08-06
Large Shareholding Report
EDINET
2026-07-22
Large Shareholding Report
EDINET
2026-07-06
Large Shareholding Report
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-22
Large Shareholding Report
EDINET
2026-06-05
Large Shareholding Report
EDINET
2026-06-04
Large Shareholding Report
EDINET
2026-05-19
Large Shareholding Report
TDnet
2026-05-14
Full-Year Earnings Flash
FY ending Mar 2026
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-04-03
Large Shareholding Report
EDINETAmended
2026-04-01
Change Report
EDINETAmended
2026-03-25
Change Report
EDINET
2026-03-23
Large Shareholding Report
EDINETAmended
2026-03-13
Change Report
EDINET
2026-03-12
Large Shareholding Report
EDINETAmended
2026-03-10
Amended Securities Registration Statement
EDINETAmended
2026-03-10
Amended Securities Registration Statement
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-02-25
Securities Registration Statement
TDnet
2026-02-25
Q3 Earnings Flash
FY ending Mar 2026
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