June 2026
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Largest Computer Hardware Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Tokyo Electron, Hitachi, Advantest, Murata Manufacturing and Mitsubishi.
 | Tokyo Electron is a major supplier of semiconductor fabrication tools. It operates primarily in the etching, deposition, and cleaning segments, which involve adding and removing materials to and from semiconductor wafers. Customers include leading-edge logic, foundry, and memory chipmakers such as Samsung Electronics, Intel, TSMC, and SK Hynix. | $398 | +128% | $181B | $178B | 11.7x | 37.5x | ||
| Hitachi Ltd is engaged in diverse businesses spanning industries, energy, IT, and real estate. The company operates through four business segments. The Connective Industries segment covers elevators, escalators, home appliances, air conditioning, semiconductor manufacturing equipment, medical analyzers, industrial and distribution solutions, water and environmental solutions, and industrial equipment. The Digital Systems & Services segment offers system integration, consulting, cloud services, IT products, software, and ATMs. The Green Energy & Mobility segment focuses on power grids, renewable energy, nuclear power, and railway systems. The Others include real estate management, sales, and leasing. It generates the majority of its revenue from the Green Energy & Mobility segment. | $32 | +22% | $146B | $142B | 2.3x | 15.7x | ||
| Founded in 1954 and headquartered in Tokyo, Advantest specializes in semiconductor test systems and is a well-known leader in automated test equipment, or ATE. Advantest also has a high market share in test systems for nonmemory semiconductors, including application processors for mobile phones. The company is also involved in peripheral businesses, such as semiconductor device transport equipment. Following its acquisition of Verigy in July 2011, Advantest holds a market share of over 50% in the ATE market. | $176 | +163% | $128B | $126B | 25.8x | 78.2x | ||
| Murata Manufacturing produces passive components for electronic devices. Passive components are necessary for all electronic circuits, used to enable wireless communication, store electricity and handle electric flow, remove electromagnetic noise from circuits, and so on. Thus, passive components are imperative for electronic circuits. For instance, one high-end smartphone contains more than 1,000 passive components. Murata Manufacturing is the world's leading supplier of passive components, such as MLCC and SAW filters. | $62 | +357% | $113B | $109B | 10.0x | 36.1x | ||
| Mitsubishi Corp. is Japan’s largest general trading house, or sogo shosha, a type of conglomerate unique to Japan. Its core role is that of a trading intermediary in a variety of industrial sectors, including resources businesses like energy and metals as well as non-resources businesses, both industrial ones like automotive and non-industrial ones like food, healthcare, and retail. In addition to acting as a trading intermediary (including midstream processing functions to convert inputs into final products), Mitsubishi also participates in upstream production businesses and downstream distribution businesses. | $31 | +68% | $112B | $137B | 1.2x | 10.8x | ||
| Mitsubishi Electric is a leading Japanese diversified industrial manufacturer, specializing in factory automation systems, power and energy systems, infrastructure solutions, automotive equipment, electronic devices, and home appliances. Founded in 1921 and headquartered in Tokyo, the company operates globally with a strong presence in Asia, Europe, and North America. Known for its technological expertise and high reliability, Mitsubishi Electric plays a vital role in sectors ranging from smart manufacturing and transportation to energy management and defense. The company emphasizes sustainability, innovation, and long-term growth through its focus on electrification, automation, and digitalization. | $37 | +90% | $76B | $73B | 2.1x | 17.5x | ||
| Founded in 1935, TDK has its origin in magnetic materials, being the first company to commercialize ferrite in the world, and it used to be known as one of the major cassette-tape manufacturers. TDK is now the only external supplier for magnetic recording heads for hard disk drives, and the company intends to expand its magnetic sensor business for handsets and automobiles by leveraging its expertise. It is also one of the global top suppliers of passive components for autos and polymer rechargeable batteries for smartphones. The company acquired InvenSense in 2017, making it third largest MEMS sensor company in the world. | $25 | +131% | $47B | $44B | 3.2x | 15.9x | ||
| NEC Corp is engaged in IT services, networks, social infrastructure, and solutions. The company operates through three segments: IT Services, Social Infrastructure, and Others. The IT Services segment provides system integration, consulting, maintenance, outsourcing, cloud services, system equipment, and software services. The Social Infrastructure segment offers network infrastructure, including core networks, mobile base stations, optical transmission systems, and marine systems, along with telecom software, OSS/BSS solutions, aerospace and defense system integration, and maintenance. The Others segment covers the development, manufacturing, and sales of system equipment. It generates the majority of its revenue from the IT Services segment. | $26 | -1% | $35B | $34B | 1.6x | 13.1x | ||
| Lasertec Corp is a Japan-based company mainly engaged in the design, manufacture, and sale of inspection and measurement equipment. The company focuses on providing optical inspection systems and related technologies. The company’s main products include semiconductor-related equipment such as photomasks and wafer inspection or measurement systems, SiC wafer inspection equipment for the energy and environment sector, FPD photomask inspection systems, and hybrid laser microscopes. | $267 | +119% | $24B | $24B | 14.0x | 27.5x | ||
| Canon Inc designs, manufactures, and distributes an extensive range of consumer and electronic products, including copiers, cameras, lenses, and inkjet printers. The company operates five business segments: printing, imaging, medical, industrial, and others. It generates maximum revenue from the printing segment. Printing Business Unit includes Office multifunction devices (MFDs), Document solutions, Laser multifunction printers (MFPs), Laser printers, Inkjet printers, Image scanners, Calculators, Digital continuous feed presses, Digital sheet-fed presses, and Large format printers. | $28 | +5% | $24B | $27B | 0.9x | 6.0x | ||
| SECOM Co Ltd is a provider of security services and surveillance systems. The company operates seven business segments. BPO ICT segment provides information security, disaster response, data center, and EPO services. Disaster Prevention supplies fire alarms, extinguishing systems, and other equipment for offices, plants, tunnels, cultural properties, ships, and homes. Geospatial Information Services offers mapping and related services to governments in Japan and abroad. Insurance designs products reflecting risk reduction and specialized health coverage. Medical Services covers home care, nursing, senior residences, medical records, and equipment sales. Security Services delivers centralized systems for safety and monitoring. Others include real estate leasing and construction support. | $40 | +22% | $16B | $13B | 1.7x | 8.1x | ||
| Screen Holdings Co Ltd is a Japan-based company engaged in the manufacture and sale of semiconductors, electronic equipment, and components. The company operates through five segments. The Semiconductor Manufacturing Equipment Business (SPE) segment develops, manufactures, sells, and services semiconductor equipment. The Display Manufacturing Equipment and Film Deposition Equipment Business segment handles display and film deposition equipment. The Printed circuit board related equipment business segment provides printed circuit board-related equipment and services, and the Graphic Arts Equipment Business segment covers printing-related equipment. The Others segment includes life sciences equipment, software development, and printed materials production. | $84 | +14% | $16B | $15B | 3.7x | 15.3x | ||
| Fuji Electric Co Ltd is a Japanese electrical equipment manufacturer and distributor. The company operates through four segments. The Energy segment covers geothermal, hydro, thermal, fuel cells, photovoltaic, wind power, substation equipment, storage systems, UPS, and control equipment. The Food Distribution segment provides vending machines, store equipment, and money-handling systems. The Industry segment includes inverters, FA components, sensors, FA systems, nuclear power systems, railway and ship systems, electrical works, air conditioning, and ICT equipment. The Semiconductor segment focuses on industrial and automotive power semiconductors, while Others includes financial services, real estate, insurance, travel, and printing services. | $93 | +123% | $14B | $14B | 2.0x | 11.4x | ||
| Minebea Mitsumi Inc is an electronic components company. The company operates through four segments. The Access Solutions segment handles automotive parts such as key sets, door latches, and handles, as well as industrial equipment parts. The Motor Lighting & Sensing segment offers small motors, electronic devices, optical components, sensing devices, and specialized equipment. The Precision Technologies segment focuses on ultra-precision machined parts, including bearings, pivot assemblies, and aircraft screws. The Semiconductor & Electronics segment provides semiconductor devices, optical devices, mechanical components, power supply components, and smart products. It generates the majority of its revenue from the Semiconductor & Electronics segment. | $31 | +133% | $12B | $14B | 1.5x | 13.4x | ||
| Kokusai Electric Corp is engaged in the semiconductor manufacturing equipment business. The company operates as a single business segment focused on the development, manufacture, and supply of semiconductor production equipment used in the fabrication of electronic components. The main products include batch film deposition equipment, treatment equipment for film quality improvement, units for measuring instruments and cleaning equipment, and others. | $53 | +143% | $12B | $12B | 8.3x | 30.4x | ||
| Otsuka is Japan’s leading one-stop provider of IT solutions and office supplies, primarily targeting small and midsize enterprises. The System Integration business sells and integrates everything from PCs and servers to the proprietary “Smile” ERP system. This is complemented by the Service & Support business, featuring the “Tanomail” office-supply mail-order service and “Tayoreru” maintenance contracts. Operating through a dense nationwide network, Otsuka functions as the outsourced IT department for companies that lack one, providing a single, trusted point of contact for all technology and office needs. | $19 | +1% | $7B | $5B | 0.6x | 8.7x | ||
| Seiko Epson Corp is a Japan-based electronics manufacturer of printers and imaging equipment. The company operates through three segments. The Manufacturing-related and Wearables segment includes industrial robots, small injection molding machines, watches, watch movements, crystal devices, semiconductors, metal powders, surface treatment, and PCs. The Printing Solutions segment covers office and home inkjet printers, serial impact dot matrix printers, page printers, color image scanners, dry office paper machines, commercial and industrial inkjet printers, POS system products, rubber printers, and related consumables. The Visual Communication segment focuses on LCD projectors, smart glasses, and related products. It generates the majority of revenue from the Printing Solutions segment. | $19 | +57% | $6B | $6B | 0.7x | 5.9x | ||
| Brother Industries Ltd is a Japan-based company mainly engaged in producing and selling office equipment, printing solutions, and related supplies. The company operates through seven segments. The Domino segment covers industrial printing equipment, while the Machinery segment handles machine tools, industrial sewing machines, and garment printers. The Network and Content segment involves karaoke equipment and IT systems, and the Nissei segment produces reducers and gears. The Others segment includes new construction and renovation of buildings, and investment in information systems. The Personal and Home segment makes household sewing machines, and Printing and Solutions focuses on telecommunications and printing equipment. It generates majority revenue from Printing & Solutions segment. | $24 | +52% | $6B | $5B | 0.8x | 5.7x | ||
| Ricoh Co Ltd is engaged in the manufacture and sale of office automation equipment, electronic devices, and photographic instruments. Digital Products segment manufactures multifunction printers, printing machines, scanners, fax machines, network equipment, auto ID systems, electrical units, and related consumables. Digital Services segment covers sales of printers, PCs, servers, network equipment, software, support, solutions, and document-related services. Graphic Communications segment provides production printers, imaging systems, industrial printers, inkjet heads, and consumables. Industrial Solutions segment offers thermal paper, media, optical components, and precision parts. Others segment includes digital cameras, 360-degree cameras, environmental & healthcare-related businesses. | $9 | +10% | $5B | $7B | 0.4x | 13.0x | ||
| RORZE Corp is engaged in development, design, manufacturing, and sales of automation system for semiconductor/FPD production. Its semiconductor automation product generates more revenue. It also has products like Atmospheric robot, vacuum water robot, Mask handling system, control device. | $28 | +114% | $5B | $4B | 5.5x | 20.5x | ||
| Tokyo Seimitsu Co Ltd is engaged in the manufacture and sale of semiconductor manufacturing equipment and measuring instruments. The group has two reportable segments: Semiconductor Manufacturing Equipment and Measuring Instruments. The Semiconductor Manufacturing Equipment segment produces wafer probing machines, wafer dicing machines, polish grinders, wafer manufacturing machines, CMP equipment, and precision cutting blades. The Measuring Instruments segment manufactures 3D coordinate measuring machines, roundness and cylindrical shape measuring machines, surface roughness and contour shape measuring machines, and various automatic measuring, sorting, and assembly machines. It generates the majority of its revenue from the Semiconductor Manufacturing Equipment segment. | $115 | +89% | $5B | $4B | 4.7x | 17.8x | ||
| Canon Marketing Japan Inc is engaged in the sale of imaging and IT solutions across diverse customer segments, with four reportable segments: Consumer, Enterprise, Area, and Professional. The Consumer segment offers digital cameras, inkjet printers, and related products to individual customers. The Enterprise segment provides Canon input/output devices and IT solutions for large and mid-sized companies, mainly through Canon IT Solutions Inc. The Area segment caters to small and medium-sized businesses nationwide via Canon System & Support Inc. The Professional segment delivers specialized solutions in production printing, semiconductor manufacturing, and healthcare IT through companies like Canon Production Printing Systems Inc and Canon ITS Medical Inc. | $22 | -33% | $5B | $4B | 0.9x | 8.0x | ||
| Micronics Japan Co Ltd is a Japanese company which is engaged in manufacturing of semiconductor and related products. It mainly produces probe cards for testing the electrical properties of wafers, testing equipment and test sockets for property testing after packaging, and a wafer prober, which is used for evaluation and analysis of devices. The company also offers products such as array probers, which are used for testing the electrical properties of flat panel displays (FDP), automated optical inspection equipment used for the display inspection of panels, and probe units that send electrical signals to test panels. Its product portfolio includes probe cards, package probe, semiconductor test equipment, automated optical inspection equipment, probe units, and FDP prober products. | $92 | +169% | $4B | $4B | 7.7x | 24.4x | ||
| Konica Minolta Inc is a Japanese equipment and material manufacturer. The company operates through four segments. The Digital Workplace business covers the development, manufacture, and sale of multifunction printers, related consumables, and IT services and solutions. The Image Solutions business includes medical diagnostic imaging systems, network cameras, and video-related equipment, along with related services and solutions. The Industry business encompasses measuring instruments, functional films for displays, industrial inkjet heads, and professional lenses. The Professional Print business involves digital printing systems and consumables for commercial and industrial markets, as well as printing services and solutions. It generates the majority of revenue Digital workplace segment. | $4 | +34% | $2B | $4B | 0.5x | 42.4x | ||
| Daiwabo Holdings Co Ltd engages in the information technology infrastructure distribution business in Japan and internationally. The company operates through two segments: IT Infrastructure Distribution Business and Industrial Machinery Business. The IT Infrastructure Distribution segment handles the sale of computer equipment and peripherals, while the Industrial Machinery segment manufactures and sells mechanical and casting products for production equipment. It generates the majority of its revenue from the IT Infrastructure Distribution Business segment. | $22 | +34% | $2B | $2B | 0.2x | 7.3x | ||
| Kaga Electronics Co Ltd is a Japan based company engages in the sales of electronic components, electronic devices and other. It operates through following segments: Electronic Components, Information Equipment, Software and Other. The firm generates majority revenue from the Electronic Components. | $31 | +81% | $1B | $1B | 0.4x | 7.9x | ||
| Noritsu Koki Co Ltd is a Japan-based company, engaged in the healthcare, drug discovery, senior life, agribusiness food, manufacturing, and other operations. In the manufacturing business, the company manufactures marking pen tip made of felt and synthetic fiber as the main product. In the healthcare business, it offers a range of medical services. In the drug discovery business, the company conducts research and development on biopharmaceuticals and regenerative medicine. The other operations of the company involves the business development and investment research, digital area business and insurance business. | $12 | +29% | $1B | $1B | 1.8x | 8.1x | ||
| Toshiba Tec Corp is a Japan-based company that designs, manufactures, and distributes office equipment and machinery. Its product lineup is organized in four segments--retail solutions, which includes point-of-sale systems, self-checkout machines, kiosks and displays; printing solutions, which includes desktop, mobile, barcode, and multifunction printers; inkjet solutions, which includes high resolution inkjet printers; and original design manufacturer solutions, which include print heads, power supplies, barcodes, knives, cutters, display units, and other modules. The firm has operations in the Americas, Europe, Middle East and Africa, and Asia-Pacific regions. | $20 | +11% | $1B | $1B | 0.3x | 2.9x | ||
| Japan Aviation Electronics Industry Ltd is a Japan-based company that manufactures and distributes electronic components and equipment. The firm's operations are organized in four segments: the Connector segment, which sells connectors for use in infrastructure, transportation, and mobile device applications; the Interface Solution segment, which sells touch panels, touch controls, and monitors; the Aviation Equipment segment, which includes navigation equipment and motion sensor solutions; and Others, which includes the sale of other products and the transportation business. | $15 | -4% | $1B | $1B | 0.7x | 4.4x | ||
| Canon Electronics Inc is a Japanese company engaged in the development, production, and sales of precision machines and instruments, electric and electronic machines and instruments; information devices; software for computers and communications devices. The company mainly manufactures various scanners such as document scanners, network scanner, and check scanner. | $23 | +42% | $934M | $567M | - | - | ||
| Hosiden Corp is a Japanese electronic parts and equipment manufacturer. The company offers its product through four segments, Electromechanical Components, Acoustic Components, Display Components, and Allied Equipment and Others. Its product portfolio includes connector, switch, acoustic parts, and touch panel that are also used in various electronic devices. It derives the majority of its revenues from its Electromechanical Components segment which mainly includes electrical parts. | $18 | -- | $870M | $444M | 0.3x | 4.0x | ||
| EIZO Corp is a Japanese computer display solutions provider. The company along with its subsidiaries develops and manufactures display products and other solutions for businesses, healthcare solutions, graphics, air traffic control, and maritime. Its product portfolio includes a variety of display monitors such as professional liquid crystal display, color management, home entertainment, medical, and industrial. Its product application is in various industries which include aviation, security, healthcare, and home entertainment. Most of its revenues are generated through the sale of visual display systems. | $16 | -- | $652M | $563M | 1.1x | 10.2x | ||
| Riso Kagaku Corp is a Japan-based manufacturer of printer-duplicators, printers, and printing products. The firm developed oil-based pigment ink, Orphis Ink, which is used by the firm's printers. The ink has a stable composition and high water resistance, making it suitable for high-speed printing. Riso has three manufacturing facilities in Japan and a worldwide distribution network. More than half of the firm's revenue is generated in Japan, with the rest coming from countries in the Americas, Europe, and Asia. | $6 | -12% | $387M | $327M | 0.7x | 5.6x | ||
| Kuroda Group Co Ltd is engaged in Manufacturing and sales of oriented film printing plates for liquid crystal displays, automation equipment, plastic injection molds, parts for HDD, electrical facilities materials and power materials, and aluminium die-cast products, design and contract development of printed circuit boards, sales of electronic parts and electrical materials to the electronics and automotive industries. | $7 | +11% | $279M | $340M | 0.4x | 6.1x | ||
| OIZUMI Corp is a Japan-based company engaged in the manufacturing and sale of equipment related to gaming machines. The company offers various products such as pachislot machines, preparatory devices, supply, WICA series, medal supply collect products and other related devices serving food and beverage industries. Additionally, it is also involved in leasing and management of real estate. | $2 | -4% | $44M | $109M | 0.9x | 9.0x | ||
| Neonode Inc provides optical sensing solutions for contactless touch, and gesture sensing and also provides software solutions for machine perception that feature machine learning algorithms to detect and track persons and objects in video streams from cameras and other types of imagers. It markets and sells its solutions to customers in many different markets and segments including, office equipment, automotive, industrial automation, medical, military, and avionics. The company geographically operates in the United States, Japan, South Korea, Germany, Sweden, China, and other regions. A majority of its revenue is generated from Japan. | $2 | -93% | $31M | $8M | 3.9x | 1.1x | ||
| RVH Inc provides medical imaging software and solutions, including monitor system enhancement equipment, calibration sensors, medical imaging graphic boards. The company segment includes System Development, Renewable Energy, Asset management related business, and Others. | $0 | -- | $8M | $5M | 0.6x | (4.3x) | ||
| Median | $25 | +38% | $5B | $5B | 1.3x | 10.5x |
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