Japan Essentials - 21 Jul 2026

研报英文原文证据摘录

Japan Essentials - 21 Jul 2026

Macquarie Equity Research

21 July 2026

Capital Goods

ASEANMacVisit: Stratus Global Holdings

Cleanroom handling system provider

Izzati

About this company Hakim, CFA

Stratus Global provides cleanroom automated material handling systems

(AMHS) for the semiconductor industry. It designs, fabricates, installs and

commissions customised automation solutions that transport wafers,

components and materials within semiconductor fabrication facilities. Its Figure 1 - Summary

products include: 1) conveyor-based AMHS (ground level), 2) hybrid AMHS

incorporating overhead hoist transport systems, and 3) automated storage

and retrieval systems (ASRS). The business operates primarily on a project-

based model and serves multinational semiconductor integrated device

manufacturers (IDMs), foundries and outsourced semiconductor assembly

and test (OSAT) providers across multiple markets.

Source: Company data, July 2026

Price is based on opening price. To list in Main MarketWhy we visited

on 21 July at RM0.80/sh (20x FY26A PER, RM1b market

cap)

Stratus Global is scheduled to list on the Main Market on 21 July. We visited

its facility in Penang as part of a two-day tour of Malaysian tech companies The subject Company discussed in this report is not under

spanning IC design, OSAT, testing, equipment and EMS. The visit focused Macquarie Research’s coverage. This report is not an

on industry developments and the potential implications of AI-related infra initiation of coverage on the Company and does not intend to

provide any rating or recommendation on the Company.

investment for the semi supply chain.

The most interesting findings

Business model. The semi industry involves complex, throughput-