Industries›18 companies · latest full-year results
An industry focused on manufacturing products that require advanced technology and precise processing and assembly, such as watches, optical equipment, and measuring instruments.
The 18 precision instruments companies we cover had combined revenue of ¥5.8T (+1.3% year over year) and operating profit of ¥322.0B, an industry-wide operating margin of 5.5%.
Epson leads on revenue (¥1.4T, a 24.2% share), and the top three hold 54% of industry sales. 9 grew both revenue and operating profit; 2 saw both fall.
Riken Keiki has the highest operating margin (22.5%); average pay across the industry is ¥8.26M, highest at Hioki (¥10.3M).
Industry total
Precision Instruments · 18 companies
YoY compares companies with prior-year figures
StockShares are +37.2% over a year, ahead of the all-industry average (+14.9%) — #5 of 53 industries. Over the last month: −6.2%, −3.5pt against the market.Details
GuidanceCompany plans for FY2027 (18 companies combined): revenue +7.8%, operating profit +25.9%. Planned profit growth is above the all-industry plan (+13.0%).Details
Revisions10 raised and 0 cut this year's forecast. The biggest revision: Seiko (operating profit +28.9%).Details
Latest resultsYear to date through Q1, 9 companies combined: revenue +10.3%, operating profit +28.7% year over year. 2 are ahead of an even pace toward their full-year plan, 9 behind.Details
Disclosures3 TSE filings in the last 90 days (guidance revisions 2, buybacks 1).Details
Earnings dates16 companies report within 30 days, starting with Epson on Nov 5 and Nikon on Nov 5.Details
None
| Company | Op. profit (last FY) | This year's plan | Plan change | Revision | Progress (Q1 cumulative) |
|---|---|---|---|---|---|
| ¥49.6B | ¥101.0B | +104% | Up +17.4% | 20% |
| ¥49.9B | ¥50.0B | +0.3% | Unchanged | 19% |
| ¥-112.4B | ¥11.0B | - | Up +10.0% | -9% |
| ¥73.7B | ¥80.0B | +8.5% | Up +5.3% | 18% |
| ¥30.3B | ¥40.5B | +33.9% | Up +17.4% | 24% |
| ¥53.0B | ¥70.0B | +32.0% | Up +25.0% | 44% |
| ¥21.2B | ¥29.0B | +36.5% | Up +28.9% | 100% |
| ¥15.3B | ¥19.7B | +28.5% | Up +19.4% | 46% |
 | ¥26.0B | ¥26.5B | +1.9% | - | - |
 | ¥20.8B | ¥26.0B | +24.9% | Unchanged | 70% |
 | ¥13.4B | ¥14.0B | +4.6% | Unchanged | 43% |
 | ¥16.7B | ¥19.4B | +16.1% | Unchanged | 13% |
 | ¥16.6B | ¥18.5B | +11.2% | Unchanged | 42% |
 | ¥14.1B | ¥16.2B | +15.1% | Up +3.7% | 29% |
 | ¥9.2B | ¥7.0B | −24.0% | Unchanged | 9% |
Plans are each company's forecast for the current year from its earnings release. Plan change compares with last year's results; revisions compare the latest forecast with the first one given for the year. Progress is cumulative operating profit ÷ the full-year plan, against an even pace of 25% after Q1, 50% after Q2 and 75% after Q3 (a rough guide for seasonal businesses).
| Change | 1M | 3M | 1Y |
|---|---|---|---|
| Precision Instruments | −6.2% | −5.1% | +37.2% |
| All industries | −2.7% | −0.9% | +14.9% |
| vs. market | −3.5pt | −4.2pt | +22.3pt |
Rank among industries:3M #37/531Y #5/53
Industry returns are an equal-weighted (geometric) average of member companies. Prices are split-adjusted closes for reference, not real-time.
Totals for the 6 covered companies with full-year results for every year from FY2022 to FY2026. The set is fixed, so adding or removing coverage doesn't move the figures.
Average salary is the reporting entity's figure (often a holding company) from its annual securities report. Holding companies with fewer than 50 staff are excluded.
Nikon: FY2027 operating profit forecast raised 50% to ¥16.5bn
Noritsu Koki: Interim operating profit jumps 51% above forecast
Nakanishi: Completes ¥4 Billion Buyback, Buys 1.5% of Shares
| Company | Revenue | YoY | Operating profit | Margin | Share | Average salary | Average age | Employees |
|---|---|---|---|---|---|---|---|---|
| 1 | ¥1.4T | +3.7% | ¥49.6B | 3.5% | 24.2% | ¥7.94M | 43.2 | 12,792 |
| 2 | ¥1.1T | −3.6% | ¥49.9B | 4.6% | 18.6% | ¥8.21M | 46.3 | 3,922 |
| 3 | ¥677.2B | −5.3% | ¥-112.4B | -16.6% | 11.6% | ¥8.51M | 42.1 | 4,634 |
| 4 | ¥560.7B | +4.0% | ¥73.7B | 13.1% | 9.6% | ¥9.24M | 43.9 | 3,779 |
| 5 | ¥346.8B | +9.4% | ¥30.3B | 8.7% | 5.9% | ¥7.67M | 44.0 | 788 |
| 6 | ¥333.1B | +5.0% | ¥53.0B | 15.9% | 5.7% | ¥7.63M | 42.6 | 1,546 |
| 7 | ¥304.7B | +10.1% | ¥21.2B | 7.0% | 5.2% | ¥8.78M | 43.8 | 180 |
| 8 | ¥215.6B | +1.1% | ¥15.3B | 7.1% | 3.7% | ¥6.79M | 43.2 | 2,104 |
| 9 | ¥179.4B | −8.8% | ¥26.0B | 14.5% | 3.1% | ¥8.28M | 44.5 | 2,315 |
| 10 | ¥119.2B | +11.9% | ¥20.8B | 17.5% | 2.0% | - | 41.6 | 20 |
| 11 | ¥110.0B | −4.9% | ¥13.4B | 12.2% | 1.9% | ¥9.85M | 45.5 | 404 |
| 12 | ¥94.2B | +3.9% | ¥16.7B | 17.7% | 1.6% | ¥10.1M | 48.4 | 126 |
| 13 | ¥85.1B | −3.8% | ¥16.6B | 19.6% | 1.5% | ¥8.76M | 43.2 | 935 |
| 14 | ¥81.2B | +5.4% | ¥14.1B | 17.4% | 1.4% | ¥5.61M | 40.5 | 1,100 |
| 15 | ¥69.3B | +3.3% | ¥9.2B | 13.3% | 1.2% | - | - | - |
16 | ¥61.2B | +6.1% | ¥5.4B | 8.8% | 1.0% | ¥6.93M | 43.0 | 1,420 |
| 17 | ¥55.2B | +12.6% | ¥12.4B | 22.5% | 0.9% | ¥7.48M | 40.4 | 1,147 |
18 | ¥40.5B | +3.2% | ¥6.8B | 16.8% | 0.7% | ¥10.3M | 46.7 | 809 |
| Industry total / average | ¥5.8T | +1.3% | ¥322.0B | 5.5% | 100% | ¥8.26M | 43.7 | 38,021 |
Revenue and operating profit are from each company's latest full-year results. Green margins are at or above the industry margin. Financial institutions may not report operating profit.
Analytical and Measurement Instruments FY2026 Full Year: Horiba leads on margins
Tamron Q2 FY2026: Revenue up 3.8%, operating profit dips; raises FY sales target
Noritsu Koki: Interim operating profit jumps 51% above forecast
