| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 149.12 | -67 |
| Intrinsic value (DCF) | 129.42 | -71 |
| Graham-Dodd Method | 71.61 | -84 |
| Graham Formula | n/a |
QD Laser, Inc. (6613.T) is a Japan-based technology company specializing in semiconductor laser solutions. Operating through its Laser Device Business and Laser Eyewear Business segments, the company develops and manufactures semiconductor lasers, epitaxial wafers, and innovative retinal scanning laser eyewear products like RETISSA display II and RETISSA medical devices. These products cater to diverse industries, including telecommunications, manufacturing, medicine, and consumer electronics. QD Laser's VISIRIUM technology and silicon photonics applications position it as a niche player in advanced laser-based solutions. The company also offers unique medical devices such as RETISSA ON HAND and RETISSA NEOVIEWER, leveraging laser retinal projection for eye health diagnostics. Founded in 2006 and headquartered in Kawasaki, Japan, QD Laser combines semiconductor expertise with medical innovation, though its financial performance remains challenged by net losses and negative operating cash flow.
QD Laser presents a high-risk, high-reward investment case due to its specialized technology in semiconductor lasers and retinal projection applications. While the company operates in high-growth sectors like silicon photonics and medical devices, its financials reveal persistent losses (net income of -¥642.6M in FY2024) and negative operating cash flow (-¥443.4M). The lack of dividends and a beta of 1.192 indicate volatility. However, its strong cash position (¥4.8B) and minimal debt (¥8.6M) provide some financial flexibility. Investors should weigh its technological niche against execution risks in commercialization and scalability.
QD Laser competes in the semiconductor laser and medical device markets with a focus on retinal projection technology. Its competitive advantage lies in proprietary VISIRIUM technology and specialized medical applications like RETISSA eyewear, which have limited direct competitors. However, the company faces challenges in scaling its niche products against broader semiconductor players with greater R&D budgets. In laser devices, it competes with established photonics firms, while in medical applications, it must contend with larger medtech companies. QD Laser's small market cap (¥10.9B) limits its ability to outspend rivals in marketing or production. Its dual focus on industrial lasers and medical devices creates diversification but may dilute resource allocation. The company's innovation pipeline (e.g., silicon photonics applications) could provide differentiation if successfully commercialized, but its financial losses raise questions about long-term sustainability without significant revenue growth or partnerships.