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Japanese maker of taps, drills and end mills — precision cutting tools used to machine metal parts.
Japanese maker of taps, drills and end mills — precision cutting tools used to machine metal parts.
Cutting tools are consumables that wear out, so revenue repeats while machines run; sales go mostly through distributors to machine shops. More than half of sales are outside Japan, with the Americas, Europe and Asia each significant, so the yen matters. Taps are the signature product, with end mills growing.
In one line: Japan's Kennametal.
Moat: narrow (process know-how, brand, distribution). Deep metallurgical/coating know-how and a global sales network built over decades.
Headquarters: Toyokawa, Japan · Founded: 1938 · Employees: 7,563
Size OSG (6136.T) is a Japan Industrials company (Industrial Machinery) with a market value of $1.88B, the 505th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,200 on 6 Nov 2026.
Performance Over six months the shares fell 2.1%, against -10.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 19 in its peer set.
Growth Revenue grew 20.3% over the last twelve months (peer median +9.9%); the operating margin is 18.2% (peer median 12.8%).
Valuation It trades at 11.4× forward earnings against a peer median of 19.9× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points above its cost of capital (8.6% WACC).
Next results Next results expected around 14 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥188B | ¥161B | ¥156B | ¥148B | ¥143B |
| Revenue growth | — | +3% | +5% | +4% | — |
| Gross profit | ¥82.0B | ¥62.3B | ¥60.3B | ¥57.7B | ¥56.4B |
| EBITDA | ¥48.1B | ¥34.0B | ¥31.7B | ¥31.7B | ¥33.3B |
| Net income | ¥26.1B | ¥14.3B | ¥13.4B | ¥14.3B | ¥16.5B |
| Free cash flow | n/a | ¥12.1B | ¥13.0B | ¥12.8B | ¥11.6B |
| Capital expenditure | n/a | ¥14.8B | ¥16.2B | ¥11.2B | ¥8.86B |
| Total debt | ¥42.0B | ¥45.0B | ¥49.1B | ¥28.7B | ¥25.6B |
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 |
|---|---|---|---|---|---|---|
| OSG 6136.T | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% |
| Kennametal KMT | $1.76B | -36% | +32% | 31% | 8.9× | n/a |
| Mitsubishi Materials 5711.T | $3.21B | -24% | +7% | 5% | 3.7× | n/a |
| Union Tool 6278.T | $1.20B | -41% | +40% | 25% | 14.8× | 22.0% |
| Kyocera 6971.T | $23.4B | +3% | +7% | 6% | 22.5× | 21.3% |
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 | 6136.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.5% | -4.9% | 5th lowest of 21 |
| 6-month return | -2.1% | -10.4% | 7th highest of 19 |
| Distance from 52-week high | -24.2% | -27.3% | 8th highest of 21 |
| Revenue growth (TTM) | +20.3% | +9.9% | 5th highest of 21 |
| Operating margin | 18.2% | 12.8% | 6th highest of 21 |
| Forward P/E | 11.4× | 19.9× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.7% | 11.8% | 5th least demanding of 14 |
| Growth delivered (Del g) | +9.0% | +14.4% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | -7.3 pp | -0.5 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | +2.5 pp | +2.8 pp | 10th lowest of 21 |
| EV / EBITDA | 6.1× | 14.4× | cheapest of 12 |
| Net debt / EBITDA | -0.3× | -0.2× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OSG 6136.T | Japan | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% | +9.0% |
| ELGI Equipments ELGIEQUIP.NS | India | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% | +15.5% |
| Wuxi Rich Intelligent Equipment 301599.SZ | China | $1.87B | -54% | +9% | 13% | n/a | 31.2% | +9.2% |
| Ta Liang Technology 3167.TW | Taiwan | $1.89B | -9% | +103% | 23% | 19.6× | 31.8% | +15.9% |
| Excelland Robotics (Wuxi) 3231.HK | Hong Kong | $1.91B | n/a | +19% | -36% | n/a | n/a | n/a |
| Suzhou Secote Precision Electronic 603283.SS | China | $1.92B | -12% | +9% | 20% | 20.2× | n/a | n/a |
| Midera Food Processing MFP | United States | $1.92B | n/a | +11% | 14% | 16.4× | 0.9% | +10.5% |
| Shenzhen Yinghe Technology 300457.SZ | China | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% | +31.7% |
| LMW LMW.NS | India | $1.93B | +14% | +19% | 4% | 55.9× | n/a | n/a |
| Xiangtan Electric Manufacturing 600416.SS | China | $1.83B | -33% | -3% | -2% | 414.0× | n/a | n/a |
| Systemair SYSR.ST | Sweden | $1.83B | +16% | +3% | 9% | 18.6× | 13.4% | +8.0% |
| Jiangxi Guoke Defence 688543.SS | China | $1.83B | -7% | +2% | 16% | 42.7× | n/a | n/a |
| Zhejiang Dun'an Artificial Environment 002011.SZ | China | $1.81B | -4% | +8% | 8% | 11.4× | -0.4% | +12.2% |
| CIMC Enric 3899.HK | Hong Kong | $1.96B | -32% | +6% | 4% | 10.4× | -4.7% | +15.6% |
| INOX India INOXINDIA.NS | India | $1.79B | +20% | +23% | 18% | 47.3× | 37.9% | +21.8% |
| Gorman-Rupp GRC | United States | $1.79B | -12% | +6% | 16% | 21.5× | 11.8% | +14.4% |
| Beijing OriginWater Technology 300070.SZ | China | $1.78B | -16% | -10% | 5% | 54.1× | 17.0% | -4.1% |
| Shareate Tools 688257.SS | China | $1.78B | -42% | +69% | 25% | 11.4× | n/a | n/a |
| Makino Milling Machine 6135.T | Japan | $1.99B | +35% | +17% | 12% | 10.1× | -3.2% | +17.5% |
| Enerpac Tool EPAC | United States | $1.99B | +9% | +6% | 20% | 18.8× | 3.8% | +4.3% |
| Kaishan 300257.SZ | China | $2.00B | -56% | +12% | 15% | 22.0× | n/a | n/a |