{"slug":"nabtesco","name":"Nabtesco","name_en":"Nabtesco","ticker":"6268.T","updated_at":"2026-07-12T04:16:02.403602+00:00","canonical":"https://valuechain.wiki/nabtesco","same_as":["https://finance.yahoo.com/quote/6268.T"],"citable":"밸류체인 그래프 기준 Nabtesco의 직접 연결 기업은 3곳(관계 기준 공급 0·매출 3)이고, 사슬을 2차까지 넓히면 4곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Nabtesco is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 4 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"RV 정밀 감속기","kicker_en":"RV precision reducers","lead":"RV(정밀) 감속기의 일본 선두 기업으로 약 30년간 시장을 이끌었다. 다관절 로봇 RV 유닛에서 세계 점유 ~35%, 휴머노이드용 미니 RV에서 28%(2024). FY2026 매출 ¥3,270억(+6.2%), RV 생산능력을 2026년까지 2배로 확장 중. 하모닉드라이브와 함께 로봇 감속기 양대 축.","lead_en":"The Japanese leader in RV (precision) reducers, having led for ~30 years. ~35% global share in articulated-robot RV units and 28% (2024) in miniature RV for humanoids. FY2026 revenue ¥327B (+6.2%), doubling RV capacity by 2026. With Harmonic Drive, one of the two pillars of robot reducers.","segments":{"fy":2026,"parts":[{"desc":"다관절 로봇 RV 감속기 세계 ~35% — 휴머노이드 미니 RV 28%로 새 수요, 캐파 2배 증설","name":"RV 정밀 감속기"},{"desc":"유압·항공·철도 — 산업 다변화 축","name":"유압·항공·철도"}],"total":"FY2026 매출 ¥327B (+6.2%)","concentration":"다관절 RV ~35%, 휴머노이드 미니RV 28%."},"segments_en":{"fy":2026,"parts":[{"desc":"~35% global share in articulated-robot RV reducers — 28% in humanoid mini-RV as new demand, capacity doubling","name":"RV precision reducers"},{"desc":"Hydraulics, aerospace and rail — the industrial-diversification axis","name":"Hydraulics/aero/rail"}],"total":"FY2026 revenue ¥327B (+6.2%)","concentration":"~35% articulated RV; 28% humanoid mini-RV."},"returns_yearly":{"2021":-22.8,"2022":9,"2023":-22.3,"2024":0.4,"2025":54.1,"2026":30.9},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"apple","name":"Apple","name_en":"Apple","tier":3,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":3,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":3,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":6.3}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":-20}},{"slug":"foxconn","name":"Foxconn","name_en":"Foxconn (Hon Hai)","tier":2,"returns_yearly":{"2021":-5.1,"2022":2.8,"2023":7.8,"2024":80.1,"2025":26.9,"2026":10.9}},{"slug":"yaskawa","name":"Yaskawa Electric","name_en":"Yaskawa Electric","tier":1,"returns_yearly":{"2021":-10.7,"2022":7.2,"2023":13.2,"2024":-18.3,"2025":10.4,"2026":42.7}},{"slug":"fanuc","name":"FANUC","name_en":"FANUC","tier":1,"returns_yearly":{"2021":-16.5,"2022":4.4,"2023":-8.1,"2024":15.6,"2025":37.7,"2026":15.3}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":1,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}}],"benefiting":[],"analysis":"다관절 로봇 관절의 RV 정밀 감속기에서 세계 ~35%를 쥔 일본 선두로, 하모닉드라이브와 함께 로봇 감속기 양대 축이다. 성장 논지는 휴머노이드 — 휴머노이드용 미니 RV에서 28% 점유로 새 수요를 잡고, 이에 대응해 RV 캐파를 2026년까지 2배로 늘린다. 리스크는 이 수요가 로봇 OEM(파낙·야스카와·테슬라 옵티머스)의 양산 속도에 묶여 변동성이 크다는 점이며, 그래프상 이 회사는 로봇 OEM 아래에 놓인 부품 병목으로, 감속기 캐파가 곧 로봇 증산의 상한이다.","analysis_en":"The Japanese leader with ~35% global share in RV precision reducers for articulated-robot joints, one of the two pillars of robot reducers with Harmonic Drive. The thesis is humanoids — 28% share in miniature RV for humanoids captures new demand, and it is doubling RV capacity by 2026 to meet it. The risk is that this demand is tied to the ramp pace of robot OEMs (FANUC, Yaskawa, Tesla Optimus) with high volatility, and in graph terms it is a component bottleneck sitting below the OEMs, where reducer capacity is the ceiling on robot production.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"로봇 OEM·휴머노이드 (RV 감속기)","counterparty_slug":null,"confidence":"high","metric":{"type":"share","unit":"%","basis":"다관절 로봇 RV 점유","value":35,"period":"2024","basis_en":"articulated-robot RV share","qualifier":"approx"},"note":"다관절 로봇·휴머노이드 OEM에 RV 정밀 감속기 공급.","note_en":"RV precision reducers to articulated-robot and humanoid OEMs.","sources":[{"stance":"confirms","publisher":"Nabtesco/TSE","publisher_en":"Nabtesco/TSE","kind":"filing","lang":"ja","published_at":"2026-02-12","url":"https://www.nabtesco.com/en/ir/","title":"Nabtesco 회사·IR(도쿄거래소 6268)","title_en":"Nabtesco company/IR (TSE 6268)","excerpt":"다관절 RV ~35%, 휴머노이드 미니RV 28%.","excerpt_en":"~35% articulated RV; 28% humanoid mini-RV."},{"stance":"confirms","publisher":"Intel Market Research","publisher_en":"Intel Market Research","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.intelmarketresearch.com/miniature-rv-reducer-for-humanoid-robots-market-6266","title":"Nabtesco, 휴머노이드 미니 RV 28% 점유","title_en":"Nabtesco 28% share in miniature humanoid RV","excerpt":"다관절 로봇 RV ~35%, 휴머노이드 미니RV 28%.","excerpt_en":"~35% articulated-robot RV; 28% humanoid mini-RV."}]},{"direction":"revenue","counterparty":"FANUC","counterparty_slug":"fanuc","confidence":"high","metric":null,"note":"산업로봇 1위 화낙에 RV 감속기 공급 — 로봇 증산이 곧 감속기 수요인, 나브테스코 최대급 수요처.","note_en":"Supplies RV reducers to robot leader FANUC — where robot ramp-up is reducer demand, one of Nabtesco's largest demand points.","sources":[{"stance":"confirms","publisher":"Intel Market Research","publisher_en":"Intel Market Research","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.intelmarketresearch.com/industrial-robot-reducer-market","title":"산업로봇 감속기 시장(FANUC·나브테스코·하모닉)","title_en":"Industrial-robot reducer market (FANUC, Nabtesco, Harmonic)","excerpt":"산업로봇 1위 FANUC에 RV 감속기 공급.","excerpt_en":"Supplies RV reducers to robot leader FANUC."}]},{"direction":"revenue","counterparty":"Tesla","counterparty_slug":"tesla","confidence":"mid","metric":null,"note":"테슬라 옵티머스 관절에 RV 감속기 공급 — 휴머노이드 양산이 현실화되면 감속기 수요를 새 차원으로 키우는 옵션.","note_en":"Supplies RV reducers for Tesla Optimus joints — an option that lifts reducer demand to a new level if humanoid mass production materializes.","sources":[{"stance":"confirms","publisher":"eWeek","publisher_en":"eWeek","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://www.eweek.com/robotics/tesla-optimus-robot-launch-timeline/","title":"Tesla Optimus 100만대·Gen3 로드맵","title_en":"Tesla Optimus 1M-unit, Gen 3 roadmap","excerpt":"테슬라 Optimus에 RV 감속기 공급.","excerpt_en":"Supplies RV reducers to Tesla Optimus."}]},{"direction":"revenue","counterparty":"유압·항공·철도 (산업)","counterparty_slug":null,"confidence":"mid","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"유압기기·항공·철도 부품.","note_en":"Hydraulics, aerospace and rail components.","sources":[{"stance":"confirms","publisher":"Nabtesco/TSE","publisher_en":"Nabtesco/TSE","kind":"filing","lang":"ja","published_at":"2026-02-12","url":"https://www.nabtesco.com/en/ir/","title":"Nabtesco 회사·IR(도쿄거래소 6268)","title_en":"Nabtesco company/IR (TSE 6268)","excerpt":"FY2026 매출 ¥327B.","excerpt_en":"FY2026 revenue ¥327B."}]},{"direction":"revenue","counterparty":"Yaskawa Electric","counterparty_slug":"yaskawa","confidence":"mid","metric":null,"note":"대형 로봇 1위 야스카와에 RV 감속기 공급 — 로봇 관절 병목 부품의 핵심 수요처.","note_en":"Supplies RV reducers to large-robot leader Yaskawa — a core demand point for the robot-joint bottleneck component.","sources":[{"stance":"confirms","publisher":"Intel Market Research","publisher_en":"Intel Market Research","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.intelmarketresearch.com/miniature-rv-reducer-for-humanoid-robots-market-6266","title":"Nabtesco, 휴머노이드 미니 RV 28% 점유","title_en":"Nabtesco 28% share in miniature humanoid RV","excerpt":"대형 로봇에 나브테스코 RV 감속기 결합.","excerpt_en":"Combines Nabtesco RV reducers in larger robots."}]},{"direction":"cost","counterparty":"소재·가공·증설 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"정밀 기어 소재·가공(RV 능력 2배 증설).","note_en":"Precision-gear materials and machining (doubling RV capacity).","sources":[{"stance":"confirms","publisher":"Intel Market Research","publisher_en":"Intel Market Research","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.intelmarketresearch.com/miniature-rv-reducer-for-humanoid-robots-market-6266","title":"Nabtesco, 휴머노이드 미니 RV 28% 점유","title_en":"Nabtesco 28% share in miniature humanoid RV","excerpt":"RV 생산능력 2배 확장.","excerpt_en":"Doubling RV capacity."}]},{"direction":"cost","counterparty":"베어링·모터·증설 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"베어링·모터·생산능력 2배 증설.","note_en":"Bearings, motors and doubling production capacity.","sources":[{"stance":"confirms","publisher":"Intel Market Research","publisher_en":"Intel Market Research","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://www.intelmarketresearch.com/miniature-rv-reducer-for-humanoid-robots-market-6266","title":"Nabtesco, 휴머노이드 미니 RV 28% 점유","title_en":"Nabtesco 28% share in miniature humanoid RV","excerpt":"RV 능력 2배 확장.","excerpt_en":"Doubling RV capacity."}]}]}