Overview
Electric Appliances

KOKUSAI ELECTRIC CORPORATION

KOKUSAI ELECTRIC is a dedicated semiconductor manufacturing equipment maker focused on thin-film deposition (LP-CVD, batch ALD) and treatment (plasma, anneal) processes used in the front-end wafer fabrication process. The company holds the #1 global revenue share in batch ALD tools and in the Plasma Gate Modification Tools market, serving leading semiconductor device manufacturers worldwide. Its proprietary batch ALD technology—combining high-quality film formation with high throughput—represents a core competitive advantage in addressing the growing complexity of 3D device structures.

Market Cap
¥1,593B
US$10.2B
EV
¥1,587B
US$10.1B
Stock¥6,822▲+0.35%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
25.3
x
LTM EV/EBIT
33.0
x
LTM PER
45.7
x
LTM PBR
7.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+18.6%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 15, 26CoreWeave Shock: US CPI beat + bond price crash triggered SOX -4.3%, semiconductor-wide selloff
MC → EV Bridge
1,593BUS$10.2BMarket Cap50.4BUS$321M+ Debt57.0BUS$363M− Cash0.00BUS$0.00M− Inv. Sec.1,587BUS$10.1BEV
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Performance & Balance
Revenue 5Y (¥B)
181US$1.15B'24/3239US$1.52B'25/3235US$1.50B'26/3
EBITDA 5Y (¥B)
41.7US$266M'24/363.9US$408M'25/356.1US$358M'26/3
Net Income 5Y (¥B)
22.4US$143M'24/336.0US$230M'25/330.1US$192M'26/3
Capital Structure
82%
18%
EquityD/E 0.22xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
92.6US$591M85.5US$545M'24/344.8US$285M60.2US$384M'25/356.5US$361M49.9US$318M'26/3
Shareholders
Top 10 hold 58.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
13.23%
2
KKR HKE INVESTMENT L.P. (Standing Proxy: MUFG Bank, Ltd.)
10.57%
3
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
9.99%
4
BNYM AS AGT/CLTS 10 PERCENT (Standing Proxy: MUFG Bank, Ltd.)
5.18%
5
Qatar Holding LLC
4.93%
6
Custody Bank of Japan, Ltd. (Trust Account)
4.85%
7
THE CHASE MANHATTAN BANK, N.A. LONDON SECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
2.94%
8
JPMSPLC CLIENT ASSETS SK JPY (Standing Proxy: Citibank, N.A.)
2.61%
9
JPMorgan Securities Japan Co., Ltd.
2.09%
10
GIC PRIVATE LIMITED-C (Standing Proxy: MUFG Bank, Ltd.)
1.98%
Management
8 officers
Kazunori TSUKADA
Representative Director, President and Executive Officer
Apr 1986 Joined Kokusai Electric Co., Ltd. (now Kokusai Electric Corporation) Apr 2007 Manager, Asia Sales Department, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. (now Kokusai Electric Corporation) Apr 2013 Deputy General Manager, Sales Division, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2014 General Manager, Sales Division, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2014 Chairman, Hitachi Kokusai Electric (Shanghai) Co., Ltd. (now Keyi Semiconductor Equipment (Shanghai) Co., Ltd.) Jun 2018 Director, General Manager, Sales Division, Kokusai Electric Corporation (spun off from Hitachi Kokusai Electric Inc.) Apr 2019 Executive Officer, General Manager, Sales Division, Kokusai Electric Corporation Apr 2020 Executive Officer (Sales, IT), Kokusai Electric Corporation Apr 2021 Executive Officer (China Business Strategy), Kokusai Electric Corporation Apr 2021 Chairman and General Manager, Keyi Semiconductor Equipment (Shanghai) Co., Ltd. Apr 2022 Managing Executive Officer (China Business Strategy), Kokusai Electric Corporation May 2022 Chairman, Keyi Semiconductor Equipment (Shanghai) Co., Ltd. Apr 2023 Managing Executive Officer (Corporate Planning, Public Relations and IR, Sustainability, China Business Strategy), Kokusai Electric Corporation Apr 2024 Senior Managing Executive Officer (Corporate Planning, Export Control, Legal, Intellectual Property, Public Relations and IR, Sustainability), Kokusai Electric Corporation Jun 2024 Director, Senior Managing Executive Officer (Corporate Planning, Export Control, Legal, Intellectual Property, Public Relations and IR, Sustainability), Kokusai Electric Corporation Apr 2025 Representative Director, President and Executive Officer (overall execution of business; Corporate Planning, Public Relations and IR), Kokusai Electric Corporation Apr 2026 Representative Director, President and Executive Officer, Kokusai Electric Corporation (current)
1965-12-06
Hidehiro YANAGAWA
Director, Senior Managing Executive Officer
Apr 1988 Joined Kokusai Electric Co., Ltd. (now Kokusai Electric Corporation) Apr 2008 Manager, Vertical Diffusion Equipment Design Department, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2009 Senior Manager, Vertical Film Deposition Equipment Design Department, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2011 Manager, Vertical Diffusion Equipment Design Department, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2013 Manager, Quality Assurance Department, Toyama Plant, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. Apr 2015 Group Member, Toyama Plant, Electronic Machinery Business Unit, Hitachi Kokusai Electric Inc. (seconded to Kook Je Electric Korea Co., Ltd.) Apr 2017 Director, General Manager, Mass Production Design Division, Hitachi Kokusai Electric Inc. Apr 2018 Executive Officer, General Manager, Production Division, General Manager, Mass Production Design Division, and Head of Toyama Plant, Hitachi Kokusai Electric Inc. Jun 2018 Executive Officer, General Manager, Production Division, General Manager, Mass Production Design Division, and Head of Toyama Plant, Kokusai Electric Corporation (spun off from Hitachi Kokusai Electric Inc.) Oct 2019 Executive Officer, General Manager, Mass Production Design Division, and Head of Toyama Plant, Kokusai Electric Corporation Apr 2020 Executive Officer, Head of Toyama Plant (Product Development, Production and Quality Assurance), Kokusai Electric Corporation Apr 2021 Managing Executive Officer, General Manager, Business Strategy Division (Business Strategy, Marketing Strategy, Sales, Service, IT), Kokusai Electric Corporation Apr 2021 Chairman, Kokusai Electric Asia Pacific Co., Ltd. Apr 2022 Managing Executive Officer (Business Strategy, Marketing Strategy, Public Relations and IR, Sales, DX and IT), Kokusai Electric Corporation Apr 2022 Board Director, Chairman and CEO, Kokusai Semiconductor Equipment Corporation Apr 2023 Senior Managing Executive Officer (Business Development, Sales Management, DX and IT, Information Security), Kokusai Electric Corporation Jun 2024 Director, Senior Managing Executive Officer (Business Development, Sales Management, DX and IT, Information Security), Kokusai Electric Corporation Apr 2025 Director, Senior Managing Executive Officer (Business Development; overall DX, IT and Information Security), Kokusai Electric Corporation Apr 2026 Director, Senior Managing Executive Officer (Value Creation Process Innovation; overall Sales and Account Management), Kokusai Electric Corporation (current)
1965-03-02
Masaaki TSURUTA
Director
Apr 1979 Joined Sony Corporation Apr 1998 General Manager, Sony Corporation Apr 2000 Division Head, Sony Corporation Oct 2000 Deputy President, Sony Corporation Jul 2004 Executive Officer, Sony Corporation Apr 2010 EVP and CTO, Sony Computer Entertainment Inc. (now Sony Interactive Entertainment Inc.) Jan 2013 Representative Director, Samsung Japan Corporation Jun 2013 Director, Tomen Devices Corporation Jan 2018 Advisor, Samsung Japan Corporation Jan 2019 Representative Director and President, Future Domain Inc. (current) Jun 2021 Outside Director, Kokusai Electric Corporation (current)
1956-12-20
Mami SASAKI
Director
Apr 1983 Joined Fuji Bank, Ltd. (now Mizuho Bank, Ltd.) Mar 1985 Joined Morgan Stanley Japan Limited (now Morgan Stanley MUFG Securities Co., Ltd.) Jan 1991 Vice President, Morgan Stanley Japan Limited Dec 2000 Managing Director, Morgan Stanley Japan Limited Apr 2004 Managing Director, Credit Suisse First Boston Securities Co. Jun 2015 Outside Director, Daito Trust Construction Co., Ltd. Oct 2018 Outside Director (Audit and Supervisory Committee Member), Sumitomo Mitsui Trust Asset Management Co., Ltd. Jun 2025 Outside Director, Japan Bank for International Cooperation (current) Jun 2025 Outside Director, Kokusai Electric Corporation (current)
1961-02-17
Yuji KAMIYA
Director (Audit and Supervisory Committee Member)
Apr 1981 Joined Hitachi, Ltd. Jun 2007 General Manager, Accounting Department, Power and Electric Systems Business Division, Hitachi, Ltd. Apr 2009 General Head, Finance Division, Electric Systems Group, Hitachi, Ltd. Apr 2011 Head, Finance Division, Transportation Systems Division, and Head, Finance Division, Social and Industrial Systems Division, Hitachi, Ltd. Apr 2012 Deputy Head, Information and Control Systems Business Division, Infrastructure Systems Company, Hitachi, Ltd. Apr 2013 Head, Infrastructure Solutions Finance Division, Infrastructure Systems Company, Hitachi, Ltd. Apr 2014 Joined Hitachi Kokusai Electric Inc. (now Kokusai Electric Corporation); Director, General Manager, Accounting Division Jun 2015 Executive Officer, General Manager, Accounting Division, Hitachi Kokusai Electric Inc. Jun 2018 Director, Senior Managing Executive Officer, General Manager, Administration Division, Kokusai Electric Corporation (spun off from Hitachi Kokusai Electric Inc.) Apr 2021 Director, Senior Managing Executive Officer (Administration: Export Control, Legal, Intellectual Property, Accounting and Finance, Human Resources and General Affairs; Ethics and Compliance; Information Security), Kokusai Electric Corporation Apr 2022 Director, Senior Managing Executive Officer (Overall Accounting and Finance, Export Control, Legal, Intellectual Property, Human Resources and General Affairs, Ethics and Compliance, Information Security), Kokusai Electric Corporation Apr 2023 Director, Senior Managing Executive Officer (Overall Accounting and Finance, Export Control, Legal, Intellectual Property, Human Resources and General Affairs, Ethics and Compliance), Kokusai Electric Corporation Apr 2024 Director, Kokusai Electric Corporation Jun 2024 Director (Audit and Supervisory Committee Member), Kokusai Electric Corporation (current)
1957-09-12
Hitoshi KUMAGAI
Director (Audit and Supervisory Committee Member)
Oct 1993 Joined Kato Accounting Office (now SK Tokyo Audit Corporation) and Kato Certified Public Accountant Office Dec 1997 Joined KPMG Peat Marwick LLP (now KPMG LLP), New York Office Apr 1998 Registered as Certified Public Accountant Oct 2002 Joined KPMG FAS Co., Ltd., Transaction Services Division Oct 2006 Representative Director, Integrate Advisory Co., Ltd. (now Trustees FAS Co., Ltd.) (current) Jun 2007 Registered as Certified Tax Accountant Mar 2010 Representative Director, Boundary Publishing Co., Ltd. (current) May 2010 Outside Audit & Supervisory Board Member, Akasaka Kakiyama Co., Ltd. Jun 2012 Auditor, Automobile Recycling Promotion Center (public interest foundation) Jun 2012 Outside Audit & Supervisory Board Member, Verite Co., Ltd. Jun 2014 Independent Director, Chairman of Compensation Committee, Audit Committee Member, Accordia Golf Trust Management Pte. Ltd. Jun 2016 Independent Outside Director, Mitsubishi Chemical Corporation (formerly Nippon Gosei Kagaku Kogyo Co., Ltd.) Apr 2018 Part-time Lecturer, Faculty of Science and Engineering, Hosei University (current) Jun 2018 Outside Audit & Supervisory Board Member, Selm Co., Ltd. Jan 2021 Outside Audit & Supervisory Board Member, Kokusai Electric Corporation Jun 2021 Outside Director (Audit and Supervisory Committee Member), Kokusai Electric Corporation (current)
1969-04-22
Noriko SAKAI
Director (Audit and Supervisory Committee Member)
Apr 1997 Registered as Attorney-at-Law Apr 1997 Joined Nagashima Ohno & Tsunematsu Jan 2003 Worked at New York Office, Paul, Hastings, Janofsky & Walker LLP (now Paul Hastings LLP) Jun 2003 Registered as Attorney in the State of California Sep 2003 Joined Taiyo Law Office (now Paul Hastings Gaikokuho Joint Enterprise) Dec 2005 Joined Omelveny & Myers Gaikokuho Joint Enterprise Feb 2008 Partner, Omelveny & Myers Gaikokuho Joint Enterprise Jan 2011 Partner, TMI Associates Jan 2013 Participated in establishment of Marunouchi International Law Office Jan 2017 Partner, Hirakawa International Law Office (current) Mar 2021 Outside Director, Kokusai Electric Corporation Jun 2025 Outside Director (Audit and Supervisory Committee Member), Kokusai Electric Corporation (current) Sep 2025 Outside Director (Audit and Supervisory Committee Member), OPEN UP Group Inc. (current)
1969-06-02
Chizu SEKINE
Director (Audit and Supervisory Committee Member)
Apr 1989 Joined Sumitomo Chemical Co., Ltd. Apr 2013 Executive Officer, Research Director, Advanced Materials Research Laboratory, Sumitomo Chemical Co., Ltd. Apr 2019 Vice President and Director, Sumika Technology Information Center Co., Ltd. Jun 2020 Representative Director and President, Sumika Technology Information Center Co., Ltd. Jun 2024 Outside Director, Kokusai Electric Corporation (current) Jul 2024 Outside Director, R-Biogen Inc. (current) Mar 2025 Outside Director, SBS Holdings, Inc. (current) Jun 2025 Outside Director, Chori Co., Ltd. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), Kokusai Electric Corporation (current)
1963-08-11
Large Shareholding Reports
Amova Asset Management Co., Ltd.
2026-10-21
3.50%→3.47%
Nomura Asset Management Co., Ltd.
2026-10-07
7.26%
Amova Asset Management Co., Ltd.
2026-10-06
3.50%
Capital Research and Management Company
2026-07-15
11.33%→10.17%
KKR HKE Investment L.P.
2026-05-25
10.37%→0.00%
Capital Research and Management Company
2026-04-01
10.28%→11.33%
Applied Materials Europe B.V.
2026-02-06
10.02%→4.98%
Baillie Gifford & Co
2025-11-21
3.29%→1.60%
Capital Research and Management Company
2025-11-13
8.34%→10.28%
Applied Materials Europe B.V.
2025-10-16
15.00%→10.02%
Capital Research and Management Company
2025-08-07
8.34%→8.34%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-10-06
Large Shareholding Report
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-15
Large Shareholding Report
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-25
Large Shareholding Report
EDINETAmended
2026-05-20
Amended Securities Registration Statement
EDINET
2026-05-13
中期経営計画
FY ending Mar 2026
EDINET
2026-05-13
Securities Registration Statement
EDINET
2026-04-01
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-02-06
Large Shareholding Report
EDINET
2025-11-21
Large Shareholding Report
EDINET
2025-11-13
Large Shareholding Report
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-16
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-07
Large Shareholding Report
EDINETAmended
2025-07-14
Amended Securities Registration Statement
EDINETAmended
2025-06-30
Amended Securities Registration Statement
EDINETAmended
2025-06-26
Amended Securities Registration Statement
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-05-21
Securities Registration Statement
EDINET
2025-05-21
Securities Registration Statement
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-05-31
Amended Securities Registration Statement
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