[Summary]
We extracted stocks related to semiconductor equipment, inspection, mounting boards, and related infrastructure from the financial results disclosed on May 13, 2026, and organized five companies whose sales, operating income, and net income were all positive compared to the previous year.
The five companies listed this time include not only equipment and inspection stocks linked to the semiconductor cycle itself, but also peripheral areas close to AI servers, advanced packages, and semiconductor factory investment. In the May 13th financial results, even among semiconductor-related companies, companies in the ``inspection'', ``substrate'', and ``factory infrastructure'' industries showed notable increases in sales and profits.
Selection conditions
The target was companies that had financial results files as of May 13th and could be confirmed to have a business relationship related to semiconductors.
- Target date: 2026-05-13
- Target areas: semiconductor equipment, semiconductor inspection, electronic substrates, semiconductor factory infrastructure
- Conditions: Sales, operating income, and net income all increased compared to the previous year
- Exclusion: stocks with decreasing sales or operating profits, stocks with decreasing net profits
Semiconductor-related 5 companies with increased sales and profits
| Company name | Code | Fiscal year end | Main position | Sales | Operating income | Net income | Operating profit margin |
|---|---|---|---|---|---|---|---|
| [Micronics Japan | 6871](/securities/6871/quarterly/2026-05-13-6871-2026Q1.html) | 1Q of December 2026 | Semiconductor inspection parts | 20.945 billion yen (+48.3%) | 5.647 billion yen (+97.6%) | 4.392 billion yen (+162.5%) | 27.0% |
| [Yamaichi Denki | 6941](/securities/6941/quarterly/2026-05-13-6941-2026Q4.html) | Full year ending March 2026 | Inspection sockets and connectors | 52.698 billion yen (+16.3%) | 11.556 billion yen (+40.5%) | 9.073 billion yen (+73.1%) | 21.9% |
| [Meiko | 6787](/securities/6787/quarterly/2026-05-13-6787-2026Q4.html) | Full year ending March 2026 | High-density electronic substrates | 240.574 billion yen (+16.3%) | 24.572 billion yen (+28.8%) | 19.782 billion yen (+32.5%) | 10.2% |
| [Organo | 6368](/securities/6368/quarterly/2026-05-13-6368-2026Q4.html) | Full year ending March 2026 | Ultrapure water and water treatment equipment | 177.654 billion yen (+8.8%) | 37.648 billion yen (+21.0%) | 28.400 billion yen (+17.6%) | 21.2% |
| [Shibaura Mechatronics | 6590](/securities/6590/quarterly/2026-05-13-6590-2026Q4.html) | Full year ending March 2026 | Semiconductor manufacturing equipment | 88.039 billion yen (+8.8%) | 15.262 billion yen (+8.0%) | 11.173 billion yen (+8.2%) | 17.3% |
*Operating profit margin is estimated from sales and operating income.
1. The strongest area is related to inspection.
Of the five companies, the ones with the most noticeable growth are Nippon Micronics and Yamaichi Denki.
As of 1Q, Micronics Japan's sales increased by 48.3%, operating income increased by 97.6%, and net income increased by 162.5%. The operating profit margin is estimated to be high at 27.0%, and the strong demand for inspection parts is directly linked to profits.
Yamaichi Denki also saw a 40.5% increase in operating profit and a 73.1% increase in net profit against a 16.3% increase in sales. The operating profit margin was 21.9%, indicating high profitability in the inspection socket and connector area.
In the semiconductor market, the inspection process becomes more important for high-performance products for AI, vehicles, and data centers. As a result, there are times when it is easier to see improvement in performance in areas related to inspection parts and testing before finished product manufacturers.
2. Meiko is a brand that watches the trend of AI servers and high-density boards
Meiko had sales of 240.574 billion yen, operating income of 24.572 billion yen, and net income of 19.782 billion yen. The sales growth rate was 16.3% and the operating profit growth rate was 28.8%, indicating a good balance between scale and growth.
Although the company is not a semiconductor manufacturing equipment company, it is in a position close to the investment cycle for AI servers, automobiles, industrial equipment, etc. through demand for electronic boards. Meiko has a large presence in these financial results, not only in terms of shipments of semiconductors themselves, but also in terms of demand for peripheral circuits and mounting boards.
3. Organo is the beneficiary of “semiconductor factory investment”
Organo is not a semiconductor manufacturing equipment manufacturer. However, as it is responsible for the ultrapure water and water treatment equipment essential to semiconductor factories, it is strongly tied to the investment cycle for factory construction and expansion.
In the latest financial results, sales increased by 8.8%, operating income increased by 21.0%, and net income increased by 17.6%. The operating profit margin is also high at 21.2%, and the demand for semiconductor factory infrastructure is reflected in profitability.
As the demand for AI semiconductors grows, investment targets will expand beyond chips to include factories, electricity, water treatment, clean rooms, and inspection processes. In that sense, I would like to evaluate organo as ``core infrastructure outside semiconductors.''
4. Shibaura Mechatronics' equipment-related profits are steadily increasing
Shibaura Mechatronics' sales increased by 8.8%, operating income increased by 8.0%, and net income increased by 8.2%. Although the growth rate is not as high as that of Nippon Micronics and Yamaichi Denki, sales and profits are steadily increasing as a semiconductor manufacturing equipment-related company.
The operating profit margin is 17.3%, which is a sufficiently high level for an equipment brand. Going forward, we would like to confirm order backlog, memory investment, advanced package investment, and customer capital investment timing.
Candidates to be rejected: Tokyo Seimitsu, SCREEN, KOKUSAI
Under these conditions, Tokyo Seimitsu, SCREEN Holdings, and KOKUSAI ELECTRIC were excluded from the top five companies.
The reason is simple: in this article, we set the condition that ``sales, operating income, and net income are all positive compared to the previous year.''
- Tokyo Seimitsu: Sales and operating income increased, but net income decreased
- SCREEN Holdings: Sales, operating income, and net income all decreased
- KOKUSAI ELECTRIC: Sales, operating income, and net income all decreased
Even major companies in the semiconductor equipment industry may not be able to increase sales or profits due to the timing of their fiscal year-end, which is affected by orders, acceptance inspections, and product mix. Therefore, when it comes to semiconductor themes, it is necessary to look at not only the strength of the stock name, but also whether the numbers for the current period are actually growing.
This conclusion
In the semiconductor-related financial results on May 13, large equipment manufacturers were not the only players. On the contrary, stocks that were able to confirm increases in sales and profits in peripheral areas such as inspection parts, circuit boards, and factory infrastructure stood out.
The five companies are categorized as follows:
- High growth type: Nippon Micronics
- High profit/inspection related type: Yamaichi Denki
- Substrate/mounting demand type: Meiko
- Factory infrastructure type: Organo
- Solid equipment growth type: Shibaura Mechatronics
When looking at the semiconductor cycle, we want to look beyond equipment manufacturers to include inspection, circuit boards, water treatment, and factory equipment. These financial results show that the benefits of AI and cutting-edge semiconductor investments are spreading beyond manufacturing equipment.
Source
This article was created based on the financial results of each company disclosed on May 13, 2026.
- Nippon Micronics: `Summary of financial results for the first quarter of the fiscal year ending December 2026 [Japanese standards] (consolidated)`
- Yamaichi Denki: `Summary of financial results for the fiscal year ending March 2026 [Japanese standards] (consolidated)`
- Meiko: `Summary of financial results for the fiscal year ending March 2026 [Japanese standards] (consolidated)`
- Organo: `Summary of financial results for the fiscal year ending March 2026 [Japanese standards] (consolidated)`
- Shibaura Mechatronics: `Summary of financial results for the fiscal year ending March 2026 [Japanese GAAP] (consolidated)`