Yokowo (6800, NR)

Research evidence excerpt

Yokowo (6800, NR)

22 June 2026

Mizuho Securities Equity Research Electronic Components

Industry Overview

Building up investment plans after results announcement; demand accelerating?

Share price (Jun 19) ¥6,050 Positive implications for the sector as a whole

TSE segment Prime

Market cap (¥b) 144.3 This report outlines the content and sector implications of the announcement

Shares outstanding (m) 23.8 regarding contact probe production capacity expansion (see company release)Average daily trading value (¥m: 25-day average) 988.7

made by Yokowo (6800 NR), a manufacturer of semiconductor test-related

Senior Analyst: products, on 19 June (4:30pm JST). In short, we see positive implications for

Fumihide Goto the sector as a whole, as the company’s announcements suggest that demand

+81 3 6202 8259 may be accelerating, especially in AI-related fields. We maintain our bullishfumihide.goto@mizuho-sc.com stance (plan A) for a little while longer (see our 9 June sector report).

The following are our key takeaways from Yokowo’s press release and

our discussions with company representatives. 1) The company plans to

increase production capacity for contact probes, a common component for

semiconductor test-related products. 2) This move has been prompted by

generally strong customer inquiries. 3) The company announced a new

medium-term plan and capex plan when it reported FY3/26 results on 13 May

and held a results briefing on 19 May, but the company has reached the

conclusion that further investment will be essential. 4) The impact on FY3/27

earnings should be minor, and the company expects benefits from capacity

additions to emerge from FY3/28. 5) It plans to provide explanations on the

background behind its investment decision, as well as the future outlook, when