# Lasertec corporation: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第64期(2025/07/01－2026/06/30) (S100Z32V)
> Page: https://vizora.meequs.com/en/company/lasertec
> Retrieved: 2026-09-30T20:30:39.436Z

## Company

Lasertec, founded in 1960, is a company in Semiconductor Equipment listed on TSE Prime. It has 1,335 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Lasertec Corporation |
| Ticker | 6920 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6920.T) |
| Listing | TSE Prime |
| Head office | 神奈川県横浜市港北区新横浜二丁目10番地1 |
| Representative (per filing) | 代表取締役社長執行役員 仙洞田 哲也 |
| Founded | Jul 1960 |
| Share capital | ¥931M |
| Employees (consolidated) | 1,335 |
| Average salary (parent only) | ¥18.8M |
| Fiscal year end | June |
| Corporate number | 1020001022180 |
| EDINET | E01991 |
| Industries (Vizora) | Semiconductor Equipment |

> Profile source: annual securities report (S100Z32V, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Equipment (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 95.8 | 36 |
| Profitability | 98.8 | 41 |
| Cash conversion | 14.1 | 39 |
| Efficiency | 54.9 | 41 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- Lasertec brought in ¥230.5B in revenue.
- Out of every ¥100 of sales, about ¥46 is left as operating profit.
- Revenue changed -8.3% from the prior year, operating profit -14.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥230485000000 → ¥77485000000
- Net income → operating cash flow: ¥77485000000 → ¥48540000000（difference ¥-28945000000）
- Main uses of operating cash flow: CapEx ¥1791000000 / dividends ¥31131000000 / buybacks ¥12003000000
- Change in cash: ¥5416000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥230.5B |  |
| Operating income | ¥105.3B | Margin 45.7% |
| Net income | ¥77.5B | Margin 33.6% |
| Free cash flow | ¥46.7B |  |
| Employees (consolidated) | 1,335 |  |
| EPS | ¥755.93 |  |
| Diluted EPS | ¥755.29 |  |
| Book value per share | ¥2499.99 |  |
| Equity ratio | 73.3% |  |
| Shares outstanding | 94,286,400 |  |
| Treasury shares | 4,655,700 |  |
| Shareholders | 60,000 |  |
| Average salary (parent only) | ¥18.8M | Filing company only |
| Cash ratio | 27.2% | Cash ÷ revenue 39.7% |
| Vs. industry median margin | +31.2 pp | Semiconductor Equipment |
| ROE | 34.4% | Derived from disclosed figures |
| ROA | 23.3% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 2.6× its level five years ago
- FY2026, operating income keeps 46 per ¥100 of revenue
- FY2026, parent-company salary changed +30% over five years

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥70248325000 | ¥230485000000 | +228.1% |
| Operating income | ¥26074064000 | ¥105259000000 | +303.7% |
| Operating margin | 37.1% | 45.7% | +8.6 pp |
| Employees | 529 people | 1,335 people | +152.4% |
| Cash and equivalents | ¥27849000000 | ¥91503000000 | +228.6% |

### Change in segment revenue mix

Span: FY ending Jun 2021 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Jun 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 230,485 | 100.0% | S100Z32V |
| Cost of revenue | 94,005 | 40.8% | S100Z32V |
| Gross profit | 136,479 | 59.2% | S100Z32V |
| SG&A | 31,220 | 13.5% | S100Z32V |
| Operating income | 105,259 | 45.7% | S100Z32V |
| Ordinary income | 107,895 | 46.8% | S100Z32V |
| Pretax income | 107,895 | 46.8% | S100Z32V |
| Income tax | 30,409 | 13.2% | S100Z32V |
| Net income | 77,485 | 33.6% | S100Z32V |
| Net income attributable to owners | 77,485 | 33.6% | S100Z32V |

## Per ¥100 of revenue（FY ending Jun 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 41 |
| SG&A | 13 |
| Operating income | 46 |
| (Ref.) Net income | 34 |

### Margin funnel

Gross margin 59.2% → Operating margin 45.7% → Net margin 33.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -8.3%; Core profit growth: -14.3%
Operating leverage (core profit growth ÷ revenue growth): 1.71×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2025 → FY ending Jun 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 251,477 | 230,485 | -20,992 | -8.3% |
| Gross profit | 148,256 | 136,479 | -11,777 | -7.9% |
| Operating income | 122,843 | 105,259 | -17,584 | -14.3% |
| Net income attributable to owners | 84,652 | 77,485 | -7,167 | -8.5% |
| Operating cash flow | 77,874 | 48,540 | -29,334 | -37.7% |
| Free cash flow | 75,551 | 46,749 | -28,802 | -38.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 42,573 | 15,063 | 35.4% | 10,824 | 16,487 | 14,688 | S100MI7Y |
| FY ending Jun 2021 | 70,248 | 26,074 | 37.1% | 19,250 | 10,489 | 6,850 | S100P96S |
| FY ending Jun 2022 | 90,378 | 32,492 | 36.0% | 24,850 | -3,464 | -8,827 | S100RWZQ |
| FY ending Jun 2023 | 152,832 | 62,287 | 40.8% | 46,164 | 40,548 | 20,003 | S100UFKD |
| FY ending Jun 2024 | 213,506 | 81,375 | 38.1% | 59,076 | 33,317 | 29,785 | S100WQ7F |
| FY ending Jun 2025 | 251,477 | 122,843 | 48.8% | 84,652 | 77,874 | 75,551 | S100Z32V |
| FY ending Jun 2026 | 230,485 | 105,259 | 45.7% | 77,485 | 48,540 | 46,749 | S100Z32V |

## People and productivity（FY ending Jun 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥172.6M |
| Operating income per employee (consolidated) | ¥78.8M |
| Net income per employee (consolidated) | ¥58M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 662 | 859 | 1,017 | 1,163 | 1,335 |
| Average salary (parent company) | ¥14.5M | ¥15.8M | ¥16.4M | ¥16.8M | ¥18.8M |
| Average age (parent company) | 40.9 years | 40.3 years | 39.9 years | 40.1 years | 40.1 years |
| Average tenure (parent company) | 9.2 years | 8.6 years | 8.3 years | 8.3 years | 8.7 years |

Year over year: Employees (consolidated) +14.8% · Revenue (consolidated) -8.3%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 48,540 | 21.1% | S100Z32V |
| Capital expenditure | 1,791 | 0.8% | S100Z32V |
| Free cash flow | 46,749 | 20.3% | 算出 |
| Investing cash flow | -1,883 | -0.8% | S100Z32V |
| Financing cash flow | -43,181 | -18.7% | S100Z32V |
| Dividends paid | 31,131 | 13.5% | S100Z32V |
| Share buyback | 12,003 | 5.2% | S100Z32V |
| Change in cash | 5,416 | 2.3% | S100Z32V |
| Cash and equivalents | 91,503 | 39.7% | S100Z32V |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 23,420 | 29,773 | 38,152 | 86,087 | 91,503 | S100UFKD, S100WQ7F, S100Z32V |
| Total assets | 178,629 | 271,574 | 271,288 | 329,601 | 336,650 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Net assets | 72,747 | 109,142 | 151,315 | 209,900 | 246,850 | S100UFKD, S100WQ7F, S100Z32V |
| Share capital | 931 | 931 | 931 | 931 | 931 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Property, plant and equipment | 8,912 | 28,424 | 28,168 | 30,285 | 29,255 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Intangible assets excluding goodwill | 5,956 | 6,164 | 4,245 | 2,451 | 1,251 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Investment securities | 949 | 1,625 | 1,320 | 1,007 | 1,538 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Current assets | 161,031 | 231,090 | 231,978 | 286,861 | 295,082 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Current liabilities | 105,167 | 161,438 | 118,284 | 117,919 | 86,368 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Short-term borrowings | 10,000 | 5,000 | — | — | — | S100RWZQ, S100UFKD |
| Total liabilities | 105,882 | 162,432 | 119,972 | 119,701 | 89,800 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Equity attributable to owners of parent | 71,142 | 106,712 | 147,744 | 207,936 | 242,310 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Retained earnings | 70,031 | 105,551 | 146,500 | 206,621 | 252,975 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |
| Treasury stock | -977 | -977 | -976 | -976 | -12,977 | S100RWZQ, S100UFKD, S100WQ7F, S100Z32V |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 27% | S100Z32V |
| Property, plant and equipment | 9% | S100Z32V |
| Intangibles and goodwill | 0% | S100Z32V |
| Investment securities | 1% | S100Z32V |
| Other assets | 63% | S100Z32V |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 27% | S100Z32V |
| Equity | 73% | S100Z32V |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 178,629 | 271,574 | 271,288 | 329,601 | 336,650 |
| Equity | 72,747 | 109,142 | 151,315 | 209,900 | 246,850 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 23,420 | 29,773 | 38,152 | 86,087 | 91,503 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 12.7% | S100Z32V |
| Fixed assets ÷ total assets | 8.7% | S100Z32V |
| Goodwill ÷ parent equity | — | —, S100Z32V |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 27.2% |
| Cash ÷ revenue | 39.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 46.1% |
| Cash vs. profit gap | -28,945 JPY mn (of net income -37.4%) |
| Shareholder returns / net income | 55.7% |
| Shareholder returns / FCF | 92.3% |
| Shareholder payments — dividends / net income | 40.2% |
| Shareholder payments — dividends / FCF | 66.6% |
| CapEx intensity (capex ÷ revenue) | 0.8% |
| Investing CF relative to operating CF | 3.9% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 27.5% | 0.51× | 13.9% | 2.51× | 34.9% | S100RWZQ |
| 2023 | 30.2% | 0.68× | 20.5% | 2.53× | 51.9% | S100UFKD |
| 2024 | 27.7% | 0.79× | 21.8% | 2.13× | 46.4% | S100WQ7F |
| 2025 | 33.7% | 0.84× | 28.2% | 1.69× | 47.6% | S100Z32V |
| 2026 | 33.6% | 0.69× | 23.3% | 1.48× | 34.4% | S100Z32V |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 20.6% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.9% | 2026-06-30 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 3.6% | 2026-06-30 |
| 内山 洋 | Major shareholder | 3.1% | 2026-06-30 |
| 前田 せつ子 | Major shareholder | 3.0% | 2026-06-30 |
| THE BANK OF NEW YORK MELLON 140042 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.3% | 2026-06-30 |
| CITIBANK，N．A．－NY，AS DEPOSITARY BANK FOR DEPOSITARY SHARE HOLDERS （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 1.7% | 2026-06-30 |
| 株式会社三菱UFJ銀行 | Major shareholder | 1.7% | 2026-06-30 |
| UCHIYAMA HOLDINGS株式会社 | Major shareholder | 1.6% | 2026-06-30 |
| 高橋 はる香 | Major shareholder | 1.6% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第64期(2025/07/01－2026/06/30) | S100Z32V | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z32V,, |
| 有価証券報告書－第63期(2024/07/01－2025/06/30) | S100WQ7F | 2025-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQ7F,, |
| 有価証券報告書－第62期(2023/07/01－2024/06/30) | S100UFKD | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFKD,, |
| 有価証券報告書－第61期(2022/07/01－2023/06/30) | S100RWZQ | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWZQ,, |
| 有価証券報告書－第60期(令和3年7月1日－令和4年6月30日) | S100P96S | 2022-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P96S,, |
| 有価証券報告書－第59期(令和2年7月1日－令和3年6月30日) | S100MI7Y | 2021-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MI7Y,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).