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Japanese technology trading company distributing semiconductors and providing embedded-systems design, cybersecurity and AI solutions.
Japanese technology trading company distributing semiconductors and providing embedded-systems design, cybersecurity and AI solutions.
Buys semiconductors, mostly from overseas suppliers, and resells them to Japanese manufacturers at a margin, adding fees for design help and technical support that lift it above a plain distributor. Cybersecurity and AI tools are newer lines sold alongside.
In one line: A Japanese semiconductor distributor with an added value-add engineering/cybersecurity bus.
Moat: narrow (distribution, process know-how). Supplier franchise relationships plus engineering support create stickier customer relationships than pure distribution.
Headquarters: Yokohama, Japan · Founded: 1972 · Employees: 5,261
Size Macnica (3132.T) is a Japan Industrials company (Wholesale Distributors) with a market value of $3.23B, the 339th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,860 on 6 Nov 2026.
Performance Over six months the shares gained 8.0%, against -2.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 34.8% over the last twelve months (peer median +9.6%); the operating margin is 3.9% (peer median 6.5%).
Valuation It trades at 11.8× forward earnings against a peer median of 17.1× (8th cheapest of 20).
Capital Return on invested capital runs 1.1 points above its cost of capital (9.4% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.47T | ¥1.21T | ¥1.03T | ¥1.03T | ¥1.03T |
| Revenue growth | — | +17% | +1% | 0% | — |
| Gross profit | ¥155B | ¥130B | ¥121B | ¥130B | ¥126B |
| EBITDA | ¥62.6B | ¥47.0B | ¥44.2B | ¥67.4B | ¥65.7B |
| Net income | ¥39.0B | ¥27.8B | ¥25.3B | ¥48.1B | ¥41.0B |
| Free cash flow | -¥38.8B | ¥17.4B | ¥22.6B | ¥38.6B | ¥37.9B |
| Capital expenditure | ¥3.06B | ¥2.96B | ¥3.60B | ¥2.27B | ¥2.15B |
| Total debt | ¥116B | ¥77.5B | ¥75.9B | ¥143B | ¥165B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Macnica 3132.T | $3.23B | +8% | +35% | 4% | 11.8× | n/a |
| Kaga Electronics 8154.T | $1.42B | +6% | +24% | 4% | 7.8× | n/a |
| Arrow Electronics ARW | $9.22B | -7% | +26% | 4% | 7.4× | 0.1% |
| Avnet AVT | $6.52B | -3% | +44% | 4% | 5.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3132.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -34.3% | -5.0% | lowest of 21 |
| 6-month return | +8.0% | -2.3% | 6th highest of 21 |
| Distance from 52-week high | -43.9% | -21.0% | 4th lowest of 21 |
| Revenue growth (TTM) | +34.8% | +9.6% | 4th highest of 21 |
| Operating margin | 3.9% | 6.5% | 6th lowest of 21 |
| Forward P/E | 11.8× | 17.1× | 8th cheapest of 20 |
| ROIC minus cost of capital | +1.1 pp | +0.9 pp | 11th highest of 21 |
| Net debt / EBITDA | 1.0× | 1.0× | 8th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Macnica 3132.T | Japan | $3.23B | +8% | +35% | 4% | 11.8× | n/a | n/a |
| Russel Metals RUS.TO | Canada | $2.98B | +36% | +18% | 5% | 14.4× | 8.7% | +11.5% |
| Nagase & 8012.T | Japan | $2.96B | -9% | +8% | 5% | 10.9× | 3.5% | +3.2% |
| Inchcape INCH.L | United Kingdom | $2.87B | -21% | +7% | 6% | 7.5× | -6.0% | +5.9% |
| Jiangsu Azure 002245.SZ | China | $2.82B | -21% | +27% | 12% | 14.6× | 11.8% | +13.8% |
| Marco Polo 001386.SZ | China | $2.80B | -15% | -12% | 21% | n/a | -7.2% | -5.5% |
| Farsoon Technologies 688433.SS | China | $3.76B | -24% | +52% | 5% | 234.8× | n/a | n/a |
| IWATANI 8088.T | Japan | $2.73B | -4% | +5% | 5% | 7.6× | 4.3% | +10.1% |
| Wuchan Zhongda 600704.SS | China | $3.86B | 0% | +3% | 1% | 7.2× | -2.5% | +8.1% |
| Gibson Energy GEI.TO | Canada | $3.87B | +13% | +26% | 3% | 19.5× | 6.4% | +16.7% |
| Xinhua Winshare Publishing & Media 0811.HK | Hong Kong | $2.60B | -15% | +1% | 7% | 6.6× | -10.6% | +4.7% |
| Workman 7564.T | Japan | $2.57B | -31% | +21% | 19% | 17.1× | 4.6% | +8.7% |
| Rubis SCA RUI.PA | France | $4.10B | 0% | +11% | 7% | 10.3× | 3.1% | +10.9% |
| Bufab BUFAB.ST | Sweden | $2.55B | +16% | +8% | 13% | 29.2× | 18.7% | +11.2% |
| Boise Cascade BCC | United States | $2.44B | -1% | +1% | 3% | 24.1× | 7.7% | +3.2% |
| DNOW DNOW | United States | $2.40B | +2% | +70% | -3% | 23.6× | 9.8% | +11.7% |
| OEM International OEM-B.ST | Sweden | $2.34B | +11% | +11% | 15% | 29.9× | 14.6% | +10.1% |
| Hanwa 8078.T | Japan | $2.29B | +7% | +6% | 2% | 7.8× | -4.2% | +8.8% |
| DXP Enterprises DXPE | United States | $2.18B | -10% | +11% | 9% | 20.7× | 6.6% | +14.9% |
| Groupe Dynamite GRGD.TO | Canada | $4.79B | -33% | +37% | 32% | 17.6× | 22.8% | n/a |
| RS Group PLC RS1.L | United Kingdom | $4.85B | +33% | -1% | 8% | 18.6× | 15.1% | +7.5% |