Overview
Electric Appliances

Obara Group Incorporated

Obara Group operates across three core segments: resistance welding equipment (primarily for automotive body welding), surface grinding/lapping equipment (for silicon wafers and oxide crystal substrates), and electrical equipment (distribution materials for the power industry). The welding equipment business serves global automotive manufacturers through a broad network of manufacturing and sales subsidiaries across Asia, the Americas, and Europe. The surface grinding segment, operated primarily through Speedfam subsidiaries, supplies precision lapping machines and consumable materials to the semiconductor and electronics industries.

Market Cap
¥95.3B
US$608M
EV
¥75.6B
US$482M
Stock¥6,610▼-0.90%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.3
x
LTM EV/EBIT
6.3
x
LTM PER
11.8
x
LTM PBR
1.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+33.5%pt
1001234
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 16, 26Q1 results: revenue +39.6% YoY, operating profit +52.2% YoY
2Mar 10, 26Zennor Asset Management new major shareholder filing (5.13%)
3Mar 23, 26Market-wide: BOJ policy change shock
4Aug 7, 26Q3 FY2026/09 earnings announced
MC → EV Bridge
95.3BUS$608MMarket Cap7.95BUS$50.7M+ Debt26.0BUS$166M− Cash1.81BUS$11.6M− Inv. Sec.0.15BUS$0.94M+ NCI75.6BUS$482MEV
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Performance & Balance
Revenue 5Y (¥B)
45.5US$290M'21/950.3US$321M'22/955.2US$352M'23/956.4US$360M'24/961.7US$393M'25/9
EBITDA 5Y (¥B)
8.53US$54.4M'21/99.82US$62.6M'22/910.4US$66.2M'23/910.6US$67.6M'24/911.5US$73.3M'25/9
Net Income 5Y (¥B)
5.99US$38.2M'21/96.20US$39.5M'22/97.21US$46.0M'23/96.72US$42.9M'24/96.76US$43.1M'25/9
Capital Structure
91%
EquityD/E 0.10xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
28.1US$179M0.80US$5.08M'21/938.0US$243M6.74US$43.0M'22/940.4US$257M2.03US$13.0M'23/943.8US$279M8.11US$51.7M'24/927.8US$177M8.00US$51.0M'25/9
Shareholders
Top 10 hold 72.4%
1
Makigome Kosan Co., Ltd.
25.69%
2
Koji OBARA
17.83%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.45%
4
CEPLUX- THE INDEPENDENT UCITS PLATFORM 2 (Standing Proxy: Citibank, N.A., Tokyo Branch)
4.84%
5
BNYMSANV RE BNYMIL RE WS ZENNOR JAPAN EQUITY INCOME FUND (Standing Proxy: MUFG Bank, Ltd.)
4.32%
6
Custody Bank of Japan, Ltd. (Trust Account)
2.89%
7
JP MORGAN CHASE BANK 385642 (Standing Proxy: Mizuho Bank, Ltd.)
2.11%
8
Noriko OBARA
2.11%
9
THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
1.64%
10
Fumiko YOSHIDA
1.51%
Management
9 officers
Koji OBARA
Representative Director, President
Jan 1994: Joined the Company Aug 2000: Director, SPEEDFAM Co., Ltd. Aug 2000: Director, SPEEDFAM, INC. (current) Aug 2001: Managing Director, SPEEDFAM Co., Ltd. Aug 2001: Director, Saku Seiki Co., Ltd. (now SPEEDFAM Nagano Co., Ltd.) (current) Oct 2004: Representative Director, Executive Vice President, SPEEDFAM Co., Ltd. Dec 2004: Director, the Company Jul 2011: Representative Director, the Company Oct 2011: Representative Director, President, the Company (current) Oct 2017: Representative Director, President, SPEEDFAM Co., Ltd. (current) Oct 2023: Representative Director, Executive Vice President, OBARA Co., Ltd. (current)
1968-05-01
Kenji KOBAYASHI
Director
Dec 1984: Joined SPEEDFAM Co., Ltd. May 1997: General Manager, Administration Department, SPEEDFAM Co., Ltd. Jun 2000: Director, SPEEDFAM Clean System Co., Ltd. (current) Jun 2000: Director, Saku Seiki Co., Ltd. (now SPEEDFAM Nagano Co., Ltd.) Aug 2000: Director, SPEEDFAM Co., Ltd. (current) Aug 2011: Director, the Company (current) Dec 2011: Director, OBARA KOREA CORP. (current) Oct 2012: Representative Director, President, SPEEDFAM Nagano Co., Ltd.
1962-09-11
Sota IWASAKI
Director
Mar 1997: Joined the Company Oct 2002: General Manager, Production Engineering Department, the Company Oct 2003: General Manager, International Department, the Company Aug 2005: Executive Vice President and Director, OBARA CORP. USA Apr 2007: President and Director, OBARA CORP. USA (current) President and Director, OBARA MEXICO, S. DE R. L. DE C. V. (current) Dec 2025: Director, the Company (current)
1959-01-10
Koji MAKINO
Director
Aug 1992: Registered as Certified Public Accountant Oct 2001: Registered as Certified Tax Accountant Jul 2003: Director, Dan Consulting Co., Ltd. Jan 2006: Established Koji Makino CPA Office Feb 2009: Representative Director, BE1 Comprehensive Accounting Office Co., Ltd. (current) Sep 2012: Outside Corporate Auditor, Digital Garage, Inc. Jun 2013: Outside Corporate Auditor, Inageya Co., Ltd. Dec 2015: Corporate Auditor, the Company Sep 2016: Outside Director (Audit and Supervisory Committee Member), Digital Garage, Inc. (current) Dec 2017: Director, the Company (current)
1966-10-07
Masako TAKAHASHI
Director
Apr 1999: Registered as Certified Public Accountant Feb 2002: Established Masako Takahashi CPA Office (current) Nov 2011: Registered as Certified Tax Accountant Dec 2017: Corporate Auditor, the Company Sep 2023: Corporate Auditor, enechain Co., Ltd. (current) Dec 2025: Director, the Company (current)
1969-01-13
Kiyoshi TAKAI
Full-time Corporate Auditor
Mar 1992: Joined the Company Oct 2004: General Manager, Accounting Department, the Company Oct 2013: General Manager, Administration Department, the Company Dec 2019: Corporate Auditor, the Company (current)
1960-04-19
Masashi SUYAMA
Corporate Auditor
Apr 1975: Joined Kao Soap Co., Ltd. (now Kao Corporation) May 2008: Corporate Auditor, Kao Customer Marketing Co., Ltd. Dec 2014: Corporate Auditor, the Company (current)
1952-01-17
Michio ONISHI
Corporate Auditor
Apr 1999: Registered as Certified Public Accountant Feb 2004: Registered as Certified Tax Accountant Sep 2006: Managing Partner, Mikasa Tax Accounting Corporation (current) Dec 2006: Corporate Auditor, the Company Dec 2015: Director, the Company Dec 2025: Corporate Auditor, the Company (current)
1972-01-25
Yuji SUZUKI
Corporate Auditor
Apr 1996: Registered as Certified Public Accountant Jul 2004: Partner, Chuo Audit Corporation Jul 2007: Partner, Shin Nihon & Co. (now EY Shinnihon LLC) Jul 2021: Managing Director, Head of Human Resources Development, EY Shinnihon LLC Jul 2023: Head of Fifth Business Division, EY Shinnihon LLC Jul 2025: Established Yuji Suzuki CPA Office (current) Dec 2025: Corporate Auditor, the Company (current)
1964-05-02
Large Shareholding Reports
Nomura Securities Co., Ltd.
2026-10-20
7.24%→7.15%
Zenner Asset Management LLP
2026-10-13
6.52%→7.53%
Nomura Securities Co., Ltd.
2026-10-02
6.92%→7.24%
T. Rowe Price Japan, Inc.
2026-08-07
7.78%→7.77%
T. Rowe Price Japan, Inc.
2026-06-22
7.87%→7.78%
Nomura Securities Co., Ltd.
2026-05-25
6.77%→6.78%
Nomura Securities Co., Ltd.
2026-05-18
6.69%→6.77%
Nomura Securities Co., Ltd.
2026-04-07
6.47%→6.57%
T. Rowe Price Japan, Inc.
2026-04-07
8.21%→7.87%
Nomura Securities Co., Ltd.
2026-03-23
6.48%→6.47%
Zenner Asset Management LLP
2026-03-12
5.13%→6.52%
Zennor Asset Management LLP
2026-03-09
5.13%
T. Rowe Price Japan, Inc.
2026-03-06
8.35%→8.21%
Nomura Securities Co., Ltd.
2026-03-06
6.30%→6.48%
Nomura Securities Co., Ltd.
2026-02-17
6.56%→6.30%
Nomura Securities Co., Ltd.
2025-11-06
6.56%→6.56%
Nomura Securities Co., Ltd.
2025-10-20
6.56%→6.56%
Nomura Securities Co., Ltd.
2025-09-22
6.56%→6.56%
Nomura Securities Co., Ltd.
2025-08-22
6.56%→6.56%
Nomura Securities Co., Ltd.
2025-08-06
4.85%→6.56%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-20
Large Shareholding Report
EDINET
2026-10-13
Large Shareholding Report
EDINET
2026-10-02
Large Shareholding Report
EDINET
2026-08-07
Large Shareholding Report
TDnet
2026-08-05
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-06-22
Large Shareholding Report
EDINET
2026-05-25
Large Shareholding Report
EDINET
2026-05-18
Large Shareholding Report
EDINET
2026-05-13
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINET
2026-05-12
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
EDINET
2026-03-12
Large Shareholding Report
EDINET
2026-03-09
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-02-17
Large Shareholding Report
TDnet
2026-02-13
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-22
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-11-06
Large Shareholding Report
EDINET
2025-10-20
Large Shareholding Report
EDINET
2025-09-22
Large Shareholding Report
EDINET
2025-08-22
Large Shareholding Report
EDINET
2025-08-06
Large Shareholding Report
TDnet
2025-08-05
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-13
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-13
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-20
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-13
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
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