Overview
Metal Products

RS Technologies Co.,Ltd.

RS Technologies is a Japan-based semiconductor materials company specializing in silicon wafer reclamation, whereby used monitor wafers from semiconductor manufacturing processes are restored to near-new quality for reuse, offering chipmakers a cost-efficient alternative to purchasing new wafers. Beyond its core reclamation business, the company manufactures and sells prime silicon wafers through its Chinese joint ventures, and provides related services including oxide film deposition processing, semiconductor equipment/materials sales, and automotive camera module manufacturing. The company serves major global semiconductor manufacturers and foundries, operating across three key geographies—Japan, Taiwan, and China—and has also entered the renewable energy sector.

Market Cap
¥130B
US$826M
EV
¥108B
US$689M
Stock¥4,870▼-1.52%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.2
x
LTM EV/EBIT
1.8
x
LTM PER
13.4
x
LTM PBR
1.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+3.3%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Apr 30, 26Q3 cumulative earnings: Revenue +31.5% YoY, op. profit +14.4% YoY
2Aug 14, 26H1 operating profit +8.9% YoY, but Q2 growth decelerated sharply to just +0.1%
MC → EV Bridge
130BUS$826MMarket Cap14.9BUS$95.3M+ Debt97.3BUS$620M− Cash19.9BUS$127M− Inv. Sec.80.8BUS$516M+ NCI108BUS$689MEV
AI Briefing
Generating insights…
Performance & Balance
Revenue 5Y (¥B)
34.6US$221M'21/1249.9US$318M'22/1251.9US$331M'23/1259.2US$378M'24/1276.7US$489M'25/12
EBITDA 5Y (¥B)
9.82US$62.6M'21/1216.4US$105M'22/1215.7US$99.9M'23/1217.3US$110M'24/1219.8US$126M'25/12
Net Income 5Y (¥B)
3.30US$21.1M'21/127.74US$49.4M'22/127.70US$49.1M'23/129.45US$60.2M'24/129.30US$59.3M'25/12
Capital Structure
86%
EquityD/E 0.17xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
31.2US$199M9.41US$60.0M'21/1273.2US$467M9.37US$59.7M'22/1278.3US$499M6.66US$42.5M'23/1293.6US$597M12.3US$78.3M'24/12114US$730M23.4US$149M'25/12
Shareholders
Top 10 hold 65.1%
1
R.S. TECH HONG KONG LIMITED (Standing Proxy: Eigi HO)
35.80%
2
Eigi HO
7.70%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.80%
4
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
5.00%
5
Nasu Material Co., Ltd.
2.60%
6
Custody Bank of Japan, Ltd. (Trust Account)
1.80%
7
Masayuki SUZUKI
1.70%
8
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
1.60%
9
STATE STREET BANK AND TRUST COMPANY 505019 (Standing Proxy: Mizuho Bank, Ltd.)
1.60%
10
Kunio HONGO
1.50%
Management
8 officers
Eigi HO
Representative Director, President
Jan 1999 Established Eiki Shoji Co., Ltd. Sep 2006 Appointed Representative Director of Eiki Shoji Co., Ltd. Dec 2010 Appointed Representative Director, President of the Company (current) Dec 2015 Appointed Chairman, AILES Semiconductor Co., Ltd. (current) Jan 2018 Appointed Chairman, Beijing GRINM RS Semiconductor Technology Co., Ltd. (current) Aug 2018 Appointed Chairman, Shandong GRINM Semiconductor Materials Co., Ltd. (current) Jan 2019 Appointed Representative Director, DG Technologies Inc. May 2021 Appointed Chairman, GRINM Semiconductor Materials Co., Ltd. (current)
1970-10-13
Satoshi ENDO
Director, General Manager of Manufacturing Department
Apr 1991 Joined Rasa Industries, Ltd. Jan 2011 Joined the Company as General Manager of Manufacturing Department Apr 2017 Appointed Director, General Manager of Manufacturing Department of the Company (current) Jan 2018 Appointed Supervisor, Beijing GRINM RS Semiconductor Technology Co., Ltd. Mar 2022 Appointed Director, AILES Semiconductor Co., Ltd. (current) Mar 2022 Appointed Director, DG Technologies Inc. Jul 2023 Appointed Director, GRINM Semiconductor Materials Co., Ltd. (current) Jul 2023 Appointed Director, Beijing GRINM RS Semiconductor Technology Co., Ltd. (current) Aug 2023 Appointed Director, Shandong GRINM Semiconductor Materials Co., Ltd. (current) Feb 2026 Appointed President, DG Technologies Inc. (current)
1971-03-27
Kazuki OSAWA
Director
Sep 2006 Joined Eiki Shoji Co., Ltd. Nov 2012 Joined the Company as Sales Section Manager, Sales Department Apr 2017 Appointed Executive Officer of the Company Mar 2022 Appointed Senior Executive Officer of the Company Mar 2023 Appointed Director, General Manager of Sales Department of the Company Sep 2023 Appointed President, Union Electronics Solutions Co., Ltd. Feb 2025 Appointed Director of the Company (current) Feb 2025 Appointed President, LE System Co., Ltd. (current) Jun 2025 Appointed Chairman, Aisi Energy (Shandong) Co., Ltd. (current) Oct 2025 Appointed Chairman, Aisi Energy Technology (Panzhihua) Co., Ltd. (current)
1978-09-23
Kiyohide TOMATSU
Director, General Manager of Management Strategy Headquarters and General Manager of Corporate Management Headquarters
Apr 1998 Joined Kinsho Mataichi Co., Ltd. (now Mitsubishi Corporation RtM Japan Ltd.) Feb 2002 Joined Shinkawa Ltd. (now Yamaha Robotics Holdings Co., Ltd.) Jul 2020 Joined Kiraboshi Bank, Ltd. May 2023 Executive Officer of the Company Mar 2024 Appointed Director, General Manager of Management Strategy Headquarters and General Manager of Corporate Management Headquarters of the Company (current) Dec 2024 Appointed Chairman, AISUO Precision Components (Huizhou) Co., Ltd. (current)
1974-04-01
Taro IZAWA
Director, Audit and Supervisory Committee Member
Apr 1981 Joined Toppan Printing Co., Ltd. (now TOPPAN Holdings Inc.) Jun 2011 Appointed Director of Toppan Printing Co., Ltd. Jun 2013 Appointed Managing Director of Toppan Printing Co., Ltd. Jun 2019 Appointed Senior Advisor of Toppan Printing Co., Ltd. Jun 2021 Retired as Senior Advisor of Toppan Printing Co., Ltd. Mar 2024 Appointed Director of the Company Mar 2026 Appointed Director (Audit and Supervisory Committee Member) of the Company (current)
1957-01-12
Takaki NAKANO
Director
Apr 1978 Joined Nippon Steel Corporation (currently Nippon Steel Corporation) Apr 2004 Head of European Office, Nippon Steel Corporation Jun 2009 Advisor, Furukawa-Sky Aluminum Corp. (now UACJ Corporation) Jun 2010 Appointed Director, Furukawa-Sky Aluminum Corp. Jun 2012 Appointed Managing Director, Furukawa-Sky Aluminum Corp. Oct 2013 Appointed Director and Managing Executive Officer, UACJ Corporation Jul 2017 Appointed Representative Director and Senior Managing Executive Officer, UACJ Corporation Jun 2020 Retired as Director, UACJ Corporation Mar 2026 Appointed Director of the Company (current)
1955-05-11
Hiroyuki KANAMORI
Director, Audit and Supervisory Committee Member
Oct 1988 Joined Asahi Shinwa Audit Corporation (now Azsa LLC) Jul 2003 Opened Kanamori Certified Public Accountant Office, Head (current) Oct 2010 Appointed Representative, Minato Certified Public Accountants Joint Office (current) Mar 2013 Appointed Audit and Supervisory Board Member of the Company Jun 2015 Appointed Outside Director, Hakuten Co., Ltd. (current) Dec 2018 Appointed Outside Audit and Supervisory Board Member, Gakunan Holdings Co., Ltd. (current) Mar 2022 Appointed Director (Audit and Supervisory Committee Member) of the Company (current)
1962-04-24
Suihei ZHANG
Director, Audit and Supervisory Committee Member
May 2002 Passed Chinese National Judicial Examination May 2004 Registered as Chinese Lawyer Jan 2008 Appointed Partner, Zhong Lun Law Firm Sep 2010 Joined Nishimura & Asahi, Gaikokuho Kyodo Jigyo Mar 2011 Registered as Foreign Lawyer (Chinese Law) Jan 2013 Appointed Partner, Nishimura & Asahi, Gaikokuho Kyodo Jigyo (current) Mar 2023 Substitute Director (Audit and Supervisory Committee Member) of the Company Mar 2024 Appointed Director (Audit and Supervisory Committee Member) of the Company (current) Mar 2024 Appointed Independent Non-Executive Director, EPS Chuangjian Technology Group Co., Ltd. (current)
1977-05-24
Large Shareholding Reports
R.S. TECH HONG KONG LIMITED
2025-10-14
36.13%→35.90%
Nippon Value Investors Co., Ltd.
2025-09-16
5.26%→2.50%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-13
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-13
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-26
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-13
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-10-14
Large Shareholding Report
EDINET
2025-09-16
Large Shareholding Report
EDINET
2025-08-13
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-13
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-31
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-13
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINETAmended
2023-03-31
Amended Quarterly Securities Report
Period: Jul 2022 – Sep 2022
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-03-30
Annual Securities Report
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →