[Western Machinery] Test Equipment Duopoly Both Beat Earnings and Raise Full-Year ATE Market Space, AI-Related SOC and Memory Expansion Demand Strong 0730

English summary

#1. Both giants beat expectations # 1) Advantest: FY26Q1 revenue was JPY 367.5B, yoy +39.3%, net profit was JPY 174.8B, yoy +93.8%, significantly beating. The company sharply raised FY26 guidance: revenue guidance JPY 1,714B (original JPY 1,420B), yoy +52%; net profit guidance JPY 660B (original JPY 46.55B), yoy +75.8%. China revenue in the quarter was JPY 69.4B, yoy +78%, mainly driven by SOC tester growth. By product, SOC tester growth is driven by ASIC, CPU, etc., while memory tester growth is driven by continued high-performance DRAM and significant NAND growth. 2) Teradyne: FY26Q2 revenue was $1.33B (market expected $1.22B), yoy +104%, operating profit was $450M, yoy +357%, significantly beating.