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Overview

Electric Appliances

YAMAICHI ELECTRONICS CO.,LTD.

Yamaichi Electronics is a manufacturer of semiconductor test sockets (burn-in and test sockets), electronic connectors, flexible printed circuit boards (YFLEX®), and optical multilayer thin-film filters. The company serves global semiconductor, electronics, and optical equipment markets through three segments: Test Solutions, Connector Solutions, and Optical-related business. Its competitive strengths lie in proprietary contact mechanism technology, fine precision processing, and high-speed transmission capabilities supporting advanced applications such as AI data centers, satellite communications, and biomedical instruments.

Activists: Nippon Active Value Fund PLC (NAVF) 3.51%

Market Cap

¥135B

US$858M

¥124B

US$787M

Stock¥7,310▼-6.04%

US$1 = ¥157.25 (2026-10-30)

LTM EV/EBITDA

7.3

LTM EV/EBIT

9.0

LTM PER

12.7

LTM PBR

2.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+41.4%pt

Nov 4, 25 – Oct 30, 26StockTOPIX

1Aug 5, 26Q1 earnings: operating profit +55.8% YoY, FY guidance raised (¥13.0bn→¥15.0bn), dividend hiked ¥150→¥168

2Aug 7, 26Q1 earnings beat (op. profit +55.8%) & dividend hike to ¥168, but guidance raise already priced in, triggering sell-the-news

3Oct 15, 26CoreWeave Shock triggers AI/semiconductor stock selloff

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

90%

EquityD/E 0.11xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 43.7%

as of 2026-03-31 · Source: Annual Securities Report

The Master Trust Bank of Japan, Ltd.

14.05%

Custody Bank of Japan, Ltd.

12.13%

STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)

3.44%

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

2.68%

STATE STREET BANK AND TRUST COMPANY 505025 (Standing Proxy: Mizuho Bank, Ltd.)

2.60%

Nippon Life Insurance Company

2.28%

JPMorgan Securities Japan Co., Ltd.

1.95%

YAMAICHI ELECTRONICS CO.,LTD. Employee Stock Ownership Association

1.80%

JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)

1.41%

Nomura Securities Co., Ltd.

1.31%

Management

10 officers

Junichi KAMEYA

Representative Director, President

Apr 1987 Joined the Company Oct 2007 Managing Director, Yamaichi Electronics (Shenzhen) Co., Ltd. Apr 2012 Executive Officer; General Manager, Production Division and Production Control Department Apr 2013 General Manager, Connector Solutions Business Division Jun 2013 Director; Senior Executive Officer Jun 2019 Managing Executive Officer Jun 2021 Representative Director, President (current)

1964-06-29

Takeshi TSUCHIYA

Director, Managing Executive Officer; General Manager, Production Division; General Manager, Production Engineering Department

Apr 1984 Joined the Company Feb 2004 Executive Officer Apr 2006 Managing Director, Yamaichi Electronics (Shenzhen) Co., Ltd. Apr 2008 Executive Officer; General Manager, Test Solutions Business Division Jun 2013 Director (current); Senior Executive Officer Jun 2016 In charge of Optical Business Jun 2018 Managing Executive Officer (current); in charge of Technology Management Department Jun 2019 In charge of Production Division Apr 2020 General Manager, Production Division (current) Apr 2025 General Manager, Production Engineering Department (current)

1961-06-01

Kazuhiro MATSUDA

Director, Managing Executive Officer; General Manager, Administration Division; Head of Future Business Group

Dec 1988 Joined the Company Apr 2009 General Manager, Overseas Sales Department, Sales Division, Business Management Headquarters Apr 2014 President, Yamaichi Electronics U.S.A., Inc. Apr 2015 Executive Officer Jun 2017 Director (current); Senior Executive Officer, General Manager, Administration Division (current) Jun 2021 General Manager, Business Management Department (currently Business Management Group) Jan 2022 General Manager, Information Systems Department Jun 2024 Managing Executive Officer (current) Nov 2025 Head of Future Business Group (current)

1964-04-11

Nobuhiro KISHIMURA

Director, Senior Executive Officer; General Manager, Test Solutions Business Division; in charge of Technology Management Department

Nov 1988 Joined the Company Feb 2004 General Manager, Second Sales Department Apr 2008 General Manager, West Japan Sales Department; General Manager, Test Solutions Planning and Special Products Department Apr 2011 General Manager, Test Solutions Business Promotion Department (currently Test Solutions Business Promotion Group) Apr 2013 General Manager, Test Solutions Sales Department Jun 2013 Deputy General Manager, Test Solutions Business Division Apr 2014 Executive Officer Jun 2018 Director (current); Senior Executive Officer (current); in charge of Production Division and Optical Business Jun 2019 General Manager, Test Solutions Business Division (current); in charge of Technology Management Department (current) Apr 2022 General Manager, Test Solutions Overseas Sales Department

1964-09-24

Yoichiro SAKUMA

Outside Director

Apr 1980 Joined Nitto Electric Industrial Co., Ltd. (currently Nitto Denko Corporation) Jun 2006 Executive Officer, Nitto Denko Corporation Jun 2010 Director, Executive Officer, Nitto Denko Corporation Jun 2013 Director, Managing Executive Officer, Nitto Denko Corporation Jan 2018 Advisor, Refine Holdings Co., Ltd. Jun 2018 Outside Director of the Company (current) Outside Director, Nitta Gelatin Inc. Oct 2018 Outside Director, Nitta Gelatin India Ltd. Feb 2019 Director, Refine Americas, Inc.

1955-09-04

Toshihisa YODA

Outside Director

Apr 1982 Joined Shinko Electric Industries Co., Ltd. Apr 2007 Executive Officer, Shinko Electric Industries Co., Ltd. Jun 2011 Director, Senior Executive Officer, Shinko Electric Industries Co., Ltd. Jun 2014 Director, Senior Managing Executive Officer, Shinko Electric Industries Co., Ltd. Jun 2018 Adviser, Shinko Electric Industries Co., Ltd. Jun 2020 Outside Director of the Company (current) Jun 2023 Outside Director, Almex Technologies Corporation (current)

1958-01-03

Suzue FUJIMORI

Outside Director

Apr 1992 Joined Matsushita Electric Industrial Co., Ltd. (currently Panasonic Corporation) Apr 2000 Admitted as attorney in the State of New York, U.S.A. Sep 2002 Joined McKinsey & Company, Inc. Japan Sep 2005 Joined Ocean Tomo, LLC (intellectual property consulting) Dec 2009 Joined Amster, Rothstein & Ebenstein LLP (law firm) Aug 2023 Joined Frontier Management Inc.; Senior Director May 2025 Joined YCP Japan Co., Ltd.; Director (current) Jun 2025 Outside Director of the Company (current)

1969-04-02

Eiji ICHIKAWA

Director

Mar 2003 Joined the Company Aug 2015 Deputy Managing Director, Yamaichi Electronics (Shenzhen) Co., Ltd. Apr 2017 General Manager, Quality Control Department Apr 2023 Executive Officer (current); General Manager, Quality Assurance Department Apr 2025 General Manager, Connector Solutions Business Division (current); General Manager, Connector Solutions Overseas Sales Department

Shinobu OKAMOTO

Director (Audit and Supervisory Committee Member)

Apr 1977 Joined Tokyo Regional Taxation Bureau, National Tax Agency Jul 1998 Deputy Section Chief, Income Tax Division, Taxation Department, National Tax Agency Jul 2009 Section Chief, Personnel Section 1, General Affairs Department, Tokyo Regional Taxation Bureau Jul 2012 Chief Inspector of Internal Audit, Secretariat of the Commissioner, National Tax Agency Jun 2013 General Manager, General Affairs Department, Nagoya Regional Taxation Bureau Jul 2014 Commissioner, Kumamoto Regional Taxation Bureau Oct 2015 Opened Okamoto Tax Accountant Office; Representative (current) May 2016 Outside Audit & Supervisory Board Member, United Super Markets Holdings, Inc. Jun 2016 Outside Director, Riken Green Co., Ltd. Jun 2019 Outside Audit & Supervisory Board Member of the Company Jun 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current) May 2024 Outside Director, United Super Markets Holdings, Inc. (current)

1954-06-18

Takako MURASE

Director (Audit and Supervisory Committee Member)

Apr 1997 Registered as attorney; joined Torikai, Tada and Moriyama Law Office (currently Torikai Sogo Law Office) Jan 2005 Partner, Torikai Sogo Law Office (current) Jun 2015 Outside Audit & Supervisory Board Member, Mos Food Services, Inc. Outside Audit & Supervisory Board Member, Nikko Co., Ltd. (current) Jun 2020 Outside Audit & Supervisory Board Member of the Company Jun 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1955-01-04

Large Shareholding Reports