Overview
Electric Appliances

ANRITSU CORPORATION

Anritsu Corporation develops, manufactures, and sells electronic measurement instruments, product quality assurance (PQA) systems for food and pharmaceutical industries, environmental measurement equipment, and electronic devices. Its test and measurement solutions span digital communications, IP networks, optical communications, mobile communications, and RF/microwave/millimeter-wave applications. The company also provides maintenance and after-sales services globally, complemented by a real estate leasing business.

Market Cap
¥348B
US$2.22B
EV
¥303B
US$1.93B
Stock¥2,717.5▼-4.50%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
12.6
x
LTM EV/EBIT
17.1
x
LTM PER
24.2
x
LTM PBR
2.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+24.8%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 3, 26Market-wide: Semiconductor recovery
MC → EV Bridge
348BUS$2.22BMarket Cap6.76BUS$43.1M+ Debt50.9BUS$325M− Cash0.25BUS$1.57M− Inv. Sec.303BUS$1.93BEV
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Performance & Balance
Revenue 5Y (¥B)
105US$672M'22/3111US$707M'23/3110US$701M'24/3113US$721M'25/3117US$749M'26/3
EBITDA 5Y (¥B)
21.6US$138M'22/317.4US$111M'23/314.9US$94.8M'24/317.8US$114M'25/320.8US$133M'26/3
Net Income 5Y (¥B)
12.8US$81.6M'22/39.27US$59.1M'23/37.68US$48.9M'24/39.26US$59.0M'25/311.7US$74.5M'26/3
Capital Structure
95%
EquityD/E 0.05xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
45.7US$291M4.17US$26.6M'22/336.8US$235M4.16US$26.5M'23/345.7US$291M7.10US$45.3M'24/350.1US$319M6.07US$38.7M'25/349.3US$315M6.75US$43.1M'26/3
Shareholders
Top 10 hold 41.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
16.30%
2
Custody Bank of Japan, Ltd. (Trust Account)
9.34%
3
NORTHERN TRUST CO.(AVFC) RE NON TREATY CLIENTS ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.81%
4
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.49%
5
STATE STREET BANK AND TRUST COMPANY 505025 (Standing Proxy: Mizuho Bank, Ltd.)
2.13%
6
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
1.82%
7
Sumitomo Life Insurance Company
1.80%
8
JUNIPER (Standing Proxy: MUFG Bank, Ltd.)
1.66%
9
Japan Custody Bank, Ltd. (Sumitomo Mitsui Trust Bank Retirement Benefit Trust Account)
1.56%
10
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.46%
Management
9 officers
Koichi HAMADA
Representative Director, President, Group CEO
Apr 1988 Joined Anritsu Corporation Apr 2004 General Manager, No. 1 Development Department, IP Network Business Division, Measurement Business Headquarters Apr 2011 Vice President, Anritsu Company (U.S.) Apr 2015 Executive Officer; General Manager, Measurement Business R&D Headquarters Apr 2016 Managing Executive Officer; Vice President, Measurement Business Group; General Manager, Measurement Business Headquarters Apr 2017 Senior Managing Executive Officer; President, Measurement Business Group Jun 2017 Director Apr 2018 Representative Director, President (Executive Officer) (current) Jun 2018 Representative Director (current) Apr 2019 Group CEO (current)
1964-08-17
Shunichi SUGITA
Director, Senior Managing Executive Officer, CFO
Apr 1986 Joined Anritsu Corporation Oct 2005 General Manager, Strategic Planning Department, Strategy & Marketing Division, Measurement Business Headquarters Apr 2006 General Manager, Business Strategy Department, Corporate Planning Office Apr 2009 General Manager, Team 4, Product Planning Center, Marketing Headquarters Apr 2010 General Manager, Corporate Planning Office Apr 2014 General Manager, Project Team 1, Product Marketing Department, Marketing Headquarters Apr 2017 General Manager, Service Infrastructure Solutions Business Division, Measurement Business Headquarters Apr 2019 President, Anritsu Engineering Corporation Apr 2020 Managing Officer; General Manager, Corporate Planning Office; Head of Business Strategy Apr 2022 Executive Officer Apr 2024 Managing Executive Officer, CFO (current) Jun 2024 Director (current) Apr 2026 Senior Managing Executive Officer (current)
1961-07-29
Takeshi SHIMA
Director, Senior Managing Executive Officer; General Manager, Measurement Business; President, Telecom Measurement Company
Apr 1988 Joined Anritsu Corporation Apr 2009 General Manager, APAC Team, Sales Promotion Department, Marketing Headquarters Apr 2012 General Manager, Wireless Device Manufacturing Solutions Department, Marketing Headquarters Apr 2014 General Manager, Project Team 3, Product Marketing Department, Marketing Headquarters Apr 2016 General Manager, Global Business Development Department, Measurement Business Headquarters Apr 2017 Executive Officer; General Manager, Global Sales Headquarters; Head, Global Sales Center Oct 2017 General Manager, Asia & Oceania Sales Headquarters Apr 2019 President, Anritsu Americas Sales Company (U.S.) Jun 2019 Director, Anritsu Corporation (current) Apr 2020 Managing Executive Officer; President, Telecom Measurement Company (current); General Manager, Global Business Development Department, same company Feb 2021 Chairman, Anritsu A/S (Denmark) (current) Apr 2026 Senior Managing Executive Officer (current); General Manager, Measurement Business (current)
1964-05-25
Yoshiyuki AMANO
Director, Audit and Supervisory Committee Member
Apr 1986 Joined Anritsu Corporation Apr 2008 General Manager, Global Audit Office Apr 2011 Representative Director, President, Anritsu Pro Associe Co., Ltd. (merged into Anritsu Corporation in Apr 2020) Apr 2012 General Manager, Overseas Sales Department, Sales Division, Anritsu Industrial Solutions Co., Ltd. (now Anritsu Infivis Co., Ltd.) Apr 2014 Head, Overseas Sales Group, Overseas Business Division, same company Apr 2018 Executive Officer; Head of APAC Sales; General Manager, Asia & Oceania Sales Headquarters, Anritsu Corporation Apr 2020 General Manager, Global Sales Center; President, Anritsu Americas Sales Company (U.S.) Apr 2022 Managing Officer; Management Audit Office, Anritsu Corporation Jun 2025 Director, Audit and Supervisory Committee Member (current)
1963-04-28
Nozomi UEDA
Director
Apr 1999 Registered as attorney-at-law; joined Tokyo Themis Law Office (now Kioizaka Themis Sogo Law Office) Mar 2013 Partner, Kioizaka Themis Patent Law Office (now Kioizaka Themis Sogo Law Office) (current) Jun 2019 Outside Audit & Supervisory Board Member, MIXI, Inc. (current) Jun 2021 Outside Director (Audit and Supervisory Committee Member), Anritsu Corporation Jun 2023 Outside Director, Anritsu Corporation (current) Jun 2025 Outside Audit & Supervisory Board Member, Toba Yoko Co., Ltd. (current)
1974-02-19
Keiko HIRAYAMA
Director
Apr 1996 Joined NTT Mobile Communications Network Inc. (now NTT DOCOMO, INC.) Feb 2005 Joined Amazon Japan K.K. (now Amazon Japan G.K.) May 2007 Joined Google K.K. (now Google G.K.) Feb 2015 Head of Brand Marketing and Head of Search Marketing, Google K.K. May 2018 Joined Uber Technologies, Inc.; Head of Marketing, Japan Sep 2018 Japan Lead, Women of Uber Mar 2021 Joined Walt Disney Japan, Ltd.; Director, Marketing & Franchise Development Sep 2021 Director, Marketing & Franchise Development; Japan Lead, Women BERG Jan 2023 Joined SJ Mobile Lab Japan Co., Ltd. (now Habitto Inc.); CMO and Head of Communications Jan 2024 Founder and Representative Director, Blue Blossom Inc. (current) Mar 2024 Advisor, Orient Corporation May 2024 Outside Director, Tokyo Kobetsu Shido Gakuin Co., Ltd. Mar 2025 Outside Director, Poppins Co., Ltd. (current) Jun 2025 Outside Director, Orient Corporation (current) Jun 2026 Outside Director, Anritsu Corporation (current)
1973-04-16
Junichi AOYAGI
Director, Audit and Supervisory Committee Member
Oct 1986 Joined Sanwa Totsumatsu Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC) Mar 1990 Registered as Certified Public Accountant Jul 1997 Manager, Japan Desk, Deloitte & Touche, Netherlands (seconded) Sep 2001 Tokyo Office, Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Apr 2004 Examination Division, Secretariat, Certified Public Accountants and Auditing Oversight Board, Financial Services Agency Jul 2006 Partner, Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Aug 2020 Retired from Tohmatsu & Co. Sep 2020 Opened Junichi Aoyagi CPA Office; Representative (current) Jun 2021 Outside Director, Audit and Supervisory Committee Member, Anritsu Corporation (current)
1963-05-11
Hidetoshi SAIGO
Director, Audit and Supervisory Committee Member
Apr 1977 Joined Nippon Telegraph and Telephone Public Corporation (now NTT, Inc.) Jul 1998 General Manager, IPNW Service Department, BU Division, NTT Communications Corporation (now NTT DOCOMO BUSINESS, Inc.) Jul 2004 Director; General Manager, BBIP Business Division, NTT Communications Corporation Jul 2007 Executive Officer; EVP, Information & Communications Group, Oki Electric Industry Co., Ltd. Apr 2010 Managing Executive Officer; General Manager, Telecommunications Systems Business Headquarters, Oki Electric Industry Apr 2011 Representative Director, President, OKI Networks Co., Ltd. Apr 2015 Adviser, Oki Electric Industry Co., Ltd. Aug 2017 Retired from Oki Electric Industry Co., Ltd. Jun 2023 Outside Director, Audit and Supervisory Committee Member, Anritsu Corporation (current)
1952-09-03
Akio KOBAYASHI
Director, Audit and Supervisory Committee Member
Sep 1987 Joined Aoyama Audit Corporation Oct 1991 Registered as Certified Public Accountant Dec 1993 Seconded to Price Waterhouse Singapore Office Jul 1999 Partner, Aoyama Audit Corporation Sep 2006 Managing Partner, Arata Audit Corporation (now PwC Japan LLC) Jun 2024 Retired from PwC Japan LLC Jul 2024 Opened Akio Kobayashi CPA Office; Representative (current); Outside Director, Audit and Supervisory Committee Member, Toho Titanium Co., Ltd. May 2025 Outside Audit & Supervisory Board Member, AEON Financial Service Co., Ltd. (current) Jun 2025 Outside Director, Audit and Supervisory Committee Member, Anritsu Corporation (current)
1963-10-02
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-09-25
3.77%→3.67%
Amova Asset Management Co., Ltd.
2026-06-04
4.08%→3.04%
Amova Asset Management Co., Ltd.
2026-05-11
5.38%→4.08%
Nomura Asset Management Co., Ltd.
2026-05-07
4.86%→5.20%
Amova Asset Management Co., Ltd.
2026-04-16
6.36%→5.38%
BlackRock Japan Co., Ltd.
2025-11-18
1.80%
Amova Asset Management Co., Ltd.
2025-09-05
6.57%→6.36%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-25
Large Shareholding Report
TDnet
2026-07-30
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-04
Large Shareholding Report
EDINET
2026-05-11
Large Shareholding Report
EDINET
2026-05-07
Large Shareholding Report
EDINET
2026-04-16
Large Shareholding Report
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-18
Large Shareholding Report
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-05
Large Shareholding Report
TDnet
2025-07-30
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-30
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-06-26
Amended Securities Registration Statement
EDINETAmended
2024-06-25
Amended Securities Registration Statement
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-06-06
Amended Securities Registration Statement
EDINET
2024-05-30
Securities Registration Statement
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINETAmended
2023-08-31
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-08-04
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-04
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
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