Overview
Electric Appliances

INNOTECH CORPORATION

INNOTECH Corporation develops and sells semiconductor test systems (Test Solution segment), distributes Cadence EDA software and provides LSI design/development services through subsidiaries (Semiconductor Design segment), and offers embedded CPU boards, box computers, model-based development support, and noise analysis services (System & Service segment). The company serves semiconductor memory manufacturers, automotive electronics, and digital consumer electronics markets domestically and internationally. Its competitive strengths lie in proprietary test equipment, long-standing EDA partnerships, and a broad portfolio of engineering capabilities spanning hardware design, embedded software, and AI-based image processing systems.

Market Cap
¥39.5B
US$252M
EV
¥37.8B
US$241M
Stock¥3,280▼-2.53%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.5
x
LTM EV/EBIT
8.3
x
LTM PER
7.7
x
LTM PBR
1.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+65.7%pt
10012345
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 24, 25Q2 results: H1 operating profit +26.6% YoY confirmed
2Feb 10, 26Q3 results: Recurring profit 2.2x YoY, OPM 2.9%→8.5% surge
3Mar 5, 26FY guidance raised: Operating profit ¥30B (+58.9% YoY) & div hike
4Mar 9, 26Market-wide: US recession fears global selloff & yen strength
5Mar 23, 26Market-wide: Trump additional tariff concerns global selloff
MC → EV Bridge
39.5BUS$252MMarket Cap6.91BUS$44.0M+ Debt7.40BUS$47.2M− Cash1.95BUS$12.4M− Inv. Sec.0.72BUS$4.58M+ NCI37.8BUS$241MEV
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Performance & Balance
Revenue 5Y (¥B)
37.2US$237M'22/338.6US$246M'23/341.4US$264M'24/342.0US$268M'25/346.7US$298M'26/3
EBITDA 5Y (¥B)
3.64US$23.2M'22/33.52US$22.4M'23/33.76US$24.0M'24/33.20US$20.4M'25/34.40US$28.1M'26/3
Net Income 5Y (¥B)
2.19US$14.0M'22/31.67US$10.6M'23/31.48US$9.42M'24/31.20US$7.65M'25/34.11US$26.2M'26/3
Capital Structure
79%
21%
EquityD/E 0.27xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
8.44US$53.8M8.60US$54.9M'22/38.33US$53.1M6.94US$44.3M'23/310.4US$66.0M11.4US$72.8M'24/39.18US$58.5M9.64US$61.5M'25/310.5US$67.0M4.89US$31.2M'26/3
Shareholders
Top 10 hold 34.5%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
13.65%
2
Castlewilder Unlimited Company (Standing Proxy: Citibank, N.A., Tokyo Branch)
3.72%
3
Mizuho Bank, Ltd.
3.43%
4
Custody Bank of Japan, Ltd. (Trust Account)
3.26%
5
INNOTECH CORPORATION Employee Stock Ownership Association
2.41%
6
DFA INTL SMALL CAP VALUE PORTFOLIO (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.33%
7
Makoto SUMIDA
1.64%
8
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB; Standing Proxy: Nomura Securities Co., Ltd.)
1.43%
9
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
1.42%
10
Yoriko TAKEUCHI
1.21%
Management
5 officers
Nobuyuki OTSUKA
Representative Director, President and Executive Officer
Apr 1982 Joined Humo Laboratory Co., Ltd. Feb 1987 Joined Marubeni Hi-Tech Corporation (current: Marubeni Information Systems Co., Ltd.) Apr 1991 Joined the Company Oct 2006 General Manager, Test Technology Department, Solution Business Division, the Company Apr 2009 General Manager, Test Solutions Division, the Company Jun 2012 Director, General Manager, Test Solutions Division, the Company Apr 2016 Director, in charge of Test Solutions Division, the Company Jun 2017 Director, STAr Technologies, Inc. (current) Nov 2018 Senior Managing Director, in charge of Test Solutions Division, the Company Apr 2019 Representative Director, Senior Managing Director, the Company Apr 2021 Representative Director, President, the Company Jun 2021 Director, INNOTECH FRONTIER, Inc. (current) Jun 2023 Representative Director, President and Executive Officer, the Company (current)
1962-12-22
Yoshinori TANAHASHI
Representative Director, Senior Managing Executive Officer
Apr 1990 Joined Nomura Research Institute, Ltd. Jun 1997 Transferred to Nomura Securities Co., Ltd. May 1999 Joined Merrill Lynch Japan Securities Co., Ltd., Tokyo Branch (current: BofA Securities Japan Co., Ltd.) Jan 2001 Vice President, Investment Banking Division, Merrill Lynch Japan Securities Co., Ltd. Aug 2003 Joined SKY Perfect Communications Inc. (current: SKY Perfect JSAT Corporation) Nov 2004 General Manager, Corporate Planning Office, SKY Perfect Communications Inc. Apr 2009 General Manager, Administration Division, SKY Perfect Communications Inc. Aug 2010 Joined the Company; General Manager, Finance and Accounting Department, Administration Division, the Company Apr 2011 General Manager, Administration Division, the Company Jun 2013 Director, General Manager, Administration Division, the Company Feb 2015 Director, INNOTECH FRONTIER, Inc. (current) Apr 2021 Representative Director, Senior Managing Director, the Company May 2023 Director, STAr Technologies, Inc. (current) Jun 2023 Representative Director, Senior Managing Executive Officer, the Company (current)
1967-12-05
Kimito NAKAE
Director (Audit and Supervisory Committee Member)
Apr 1976 Joined the Ministry of Finance (current: Ministry of Finance) Jul 1981 Director, Hitachi Tax Office, National Tax Agency May 1990 Consul, Consulate-General of Japan in New York Jul 1993 Director, Public Relations Office, Secretariat, Minister's Secretariat, Ministry of Finance Jul 1994 Deputy Director, Budget Bureau (Coordination), Ministry of Finance May 1995 Secretary to the Chief Cabinet Secretary, Cabinet Secretariat Jul 1997 Budget Examiner, Budget Bureau (in charge of Foreign Affairs, Trade and Industry, and Economic Cooperation), Ministry of Finance Jul 1998 Director, Accounting Division, Accounting Department, Defense Agency Jul 2000 Director, General Affairs Division, Inspection Bureau, Financial Services Agency Jul 2001 Director, General Affairs and Inspection Division, Secretariat of the Securities and Exchange Surveillance Commission, Financial Services Agency Jul 2002 Director, General Affairs Division, Planning and Coordination Bureau, Financial Services Agency Jul 2003 Deputy Commissioner, Planning and Coordination Bureau (in charge of Inspection Bureau), Financial Services Agency Jul 2004 Deputy Commissioner, Planning and Coordination Bureau (in charge of Planning), Financial Services Agency Aug 2005 Senior Deputy Commissioner, Planning and Coordination Bureau, Financial Services Agency Jul 2007 Director-General, Equipment Bureau, Ministry of Defense Aug 2009 Vice Minister of Defense Feb 2012 Advisor, Ministry of Defense Jun 2012 Special Advisor, The Central Labour Finance Association Feb 2013 Auditor, Tokyo Foundation for Policy Research (current: The Tokyo Foundation) Jun 2014 Chairman, The Central Labour Finance Association; Chairman, National Association of Labour Credit Unions Jun 2021 Outside Director, the Company Jul 2022 Outside Audit & Supervisory Board Member, Daiwa Securities Co., Ltd. Jun 2023 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jul 2024 Representative Director, President, Japan Aircraft Industry Promotion Co., Ltd. (current)
1953-06-30
Fumino HIROSE
Director (Audit and Supervisory Committee Member)
Apr 1989 Joined Nikkan Sports Newspaper Co., Ltd. (current: Nikkan Sports Holdings Inc.) Apr 2000 Registered as attorney-at-law; joined Abe, Iikubo & Katayama Apr 2004 Partner, Abe, Iikubo & Katayama (current) Oct 2006 Studied at University of International Business and Economics, Beijing, China Apr 2008 Posted to Embassy of Japan in China (First Secretary) Sep 2014 Outside Audit & Supervisory Board Member, Joyful Honda Co., Ltd. Jun 2016 Outside Audit & Supervisory Board Member, Nippon Suisan Kaisha, Ltd. (current: Nissui Corporation) May 2018 Managing Director, All Japan Baseball Association (current) Sep 2019 Auditor, Japan Asia Community Cultural Cooperation Organization (current) Jun 2020 Auditor, Japan Basketball Association (current) Jun 2021 Outside Director, the Company Jun 2023 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2024 Outside Director, Nihon Concrete Industry Co., Ltd. (current) Jun 2025 Outside Director, ASTI Corporation (current)
1967-03-08
Fumi KURIYAMA
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Daiwa Securities Co., Ltd. Sep 1990 Joined CS First Boston Securities (current: UBS Securities Japan Co., Ltd.) Mar 1995 Joined BZW Securities (current: Barclays Securities Japan Limited) Mar 1996 Joined Goldman Sachs Securities Co., Ltd. Apr 1998 Joined Merrill Lynch Japan Securities Co., Ltd. (current: BofA Securities Japan Co., Ltd.) Aug 2010 Joined AllianceBernstein Japan Ltd. Aug 2012 Joined Frontier Management Inc. Oct 2023 Joined KPMG FAS Co., Ltd. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1961-08-09
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-09
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-10
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-08-01
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-24
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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