Semiconductor gas metrology, emissions analyzers
Horiba
A Japanese precision-instruments maker with a top-tier world share in semiconductor mass flow controllers (MFC) for front-end gas-flow control and in automotive emissions measurement. In 2025 it reorganized into three segments, Materials and Semiconductor, Energy and Environment, and Bio and Healthcare, with Materials and Semiconductor the largest source of sales and profit.
6856.T Updated Jul 12, 2026 2 AI consumers· 1 recurring
Annual return · 2026-07-10'21-8.1%'22+1.1%'23+107%'24-16%'25+93%YTD+52.6%
Money in ▸완성차·엔진 시험 (배기가스·환경 계측)●Market share 80%반도체 장비·팹 (매스플로컨트롤러·MFC)●Market share 30%병원·검사실 (체외진단·혈구분석)◐
HoribaFY2025 consolidated revenue ¥333.1bn
▸ Money out정밀가공·금속소재 (하우징·유로블록·설비증설)◐전자부품·센서·정밀밸브 (MFC·계측기 부품)◐
Financials & Segments
- Total revenue · FY2025 consolidated revenue ¥333.1bn (+5.0%), operating income ¥53.0bn (+9.7%), net income ¥37.1bn. Three segments: Materials & Semiconductor ¥156.5bn (largest, +4.5%), Energy & Environment ¥134.4bn (+5.5%), Bio & Healthcare ¥42.2bn (+5.0%). FY2026 revenue guidance ¥345.0bn.
- Segments · Materials & Semiconductor (MFC, chemical monitors — was Semiconductor + Scientific) · Energy & Environment (automotive emissions, process, environmental — was Automotive + Process & Environmental) · Bio & Healthcare (in-vitro diagnostics — was Medical-Diagnostics)
Revenue from
- 완성차·엔진 시험 (배기가스·환경 계측) High confidence· Market share 80% · 자동차 배기가스 계측 세계 점유율(약 70~80%)
Holds roughly 70 to 80 percent of the world market in automotive emissions and engine-test measurement, a top share in engine exhaust testing. Combined with process and environmental analysis under the 2025 Energy and Environment segment.Confirms EN HORIBA, Ltd. Published Feb 17, 2026: HORIBA Summary of Consolidated Financial Statements for the Year Ended December 31, 2025Confirms EN HORIBA, Ltd. Published Aug 7, 2025: Financial Results Presentation, Six Months Ended June 30, 2025 - 반도체 장비·팹 (매스플로컨트롤러·MFC) High confidence· Market share 30% · 반도체 MFC 세계 점유율(HORIBA STEC, 약 30%+·상위)
Supplies mass flow controllers (MFC) that control gas flow in front-end etch/deposition under the HORIBA STEC brand — a top-tier global share (~30%+, up to ~60% in some tallies). Horiba's IR states these sales go to 'semiconductor production equipment manufacturers,' with Materials & Semiconductor its largest engine at ¥156.5bn revenue (FY2025, +4.5%). Individual equipment-maker names are undisclosed (anonymity preserved); it competes with MKS and Fujikin while doubling capacity in Kyoto and Reno, Nevada.Confirms EN HORIBA, Ltd. Published Feb 17, 2026: HORIBA Summary of Consolidated Financial Statements for the Year Ended December 31, 2025Mentions EN Analyst consensus incl. Jefferies, Citi (via MarketScreener) Published Jan 15, 2026: HORIBA analyst consensus and target priceConfirms EN HORIBA, Ltd. Published Aug 12, 2025: Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2025Confirms EN HORIBA, Ltd. Published Aug 7, 2025: Financial Results Presentation, Six Months Ended June 30, 2025Confirms EN Global Growth Insights Published Jan 1, 2025: Semiconductor Mass Flow Controller Market Report - 병원·검사실 (체외진단·혈구분석) Medium confidence
Supplies in-vitro diagnostic instruments such as blood-cell analyzers under the 2025 Bio and Healthcare segment, the smallest of the three segments by sales.Mentions EN HORIBA, Ltd. Published Aug 7, 2025: Financial Results Presentation, Six Months Ended June 30, 2025
Pays to
- 정밀가공·금속소재 (하우징·유로블록·설비증설) Medium confidence
Precision-machined metals for gas-flow blocks and instrument housings, plus capacity expansion (doubling MFC and chemical-concentration-monitor output in Kyoto and Reno, Nevada) drive cost and capex. Specific value not disclosed.Mentions EN Analyst consensus incl. Jefferies, Citi (via MarketScreener) Published Jan 15, 2026: HORIBA analyst consensus and target price - 전자부품·센서·정밀밸브 (MFC·계측기 부품) Medium confidence
Procures precision components such as flow sensors, piezo valves and control electronics for MFC and analyzer manufacturing. Specific procurement value is not disclosed.Mentions EN HORIBA, Ltd. Published Aug 7, 2025: Financial Results Presentation, Six Months Ended June 30, 2025
Investments
- HORIBA MIRA (UK vehicle test & engineering) High confidence
An acquisition that moved Horiba upstream in the vehicle-test chain beyond emissions metrology — it bought UK-based MIRA for £83.1M in 2015, folding vehicle-development and regulatory-compliance proving grounds and engineering consultancy into its Automotive (now Energy & Environment) segment. Extending from selling instruments into automaker R&D services builds a hedge against electrification's structural shift.Confirms EN HORIBA, Ltd. Published Jul 14, 2015: HORIBA acquires UK-based MIRA Ltd. (£83.1M), integrating vehicle test & engineering