| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | 2692.59 | -27 |
| Graham Formula | 1383.11 | -63 |
Mimasu Semiconductor Industry Co., Ltd. (8155.T) is a key player in Japan's semiconductor materials and equipment sector, specializing in the processing and sales of prime and recycled wafers. Founded in 1963 and headquartered in Takasaki, Japan, the company provides a diverse range of semiconductor-related products, including measuring instruments, testing machines, and precision equipment. Additionally, Mimasu develops and sells in-house products, manufacturing systems, and semiconductor production equipment, including pure water and wastewater treatment plants. Operating in the high-growth semiconductor industry, Mimasu serves critical supply chain needs for chip manufacturers, positioning itself as a vital contributor to Japan's technology ecosystem. With a market cap of ¥118.5 billion, the company combines niche expertise in semiconductor materials with a diversified portfolio of precision equipment, making it a resilient player in the global semiconductor value chain.
Mimasu Semiconductor Industry presents a stable investment opportunity within Japan's semiconductor sector, supported by consistent revenue (¥89.1 billion) and net income (¥7.1 billion) in FY 2024. The company maintains a strong balance sheet with ¥20.5 billion in cash and minimal debt (¥1.0 billion), reflecting financial discipline. However, its modest beta (0.871) suggests lower volatility but also limited growth upside compared to larger semiconductor firms. Capital expenditures (-¥23.1 billion) indicate reinvestment in operations, though investors should monitor competitive pressures from global wafer suppliers. The dividend payout (¥239 million) adds income appeal, but long-term attractiveness hinges on Japan's semiconductor industry growth and Mimasu's ability to scale its niche offerings.
Mimasu Semiconductor Industry operates in a competitive niche, focusing on wafer processing and semiconductor equipment within Japan. Its competitive advantage lies in its specialized expertise in prime and recycled wafers, a segment less dominated by global giants. The company’s vertical integration—offering everything from materials to manufacturing systems—provides added value to regional clients. However, its market positioning is constrained by its relatively small scale compared to multinational competitors like Shin-Etsu Chemical or SUMCO, which dominate wafer production globally. Mimasu’s strength in precision equipment and wastewater systems differentiates it, but reliance on Japan’s semiconductor ecosystem limits international exposure. The company’s financial stability (positive operating cash flow of ¥18.6 billion) supports R&D and niche market penetration, yet it lacks the economies of scale to compete on cost with larger rivals. Strategic partnerships or technological breakthroughs in wafer recycling could enhance its competitive edge.