Independent research scores planetary roller screws 14/18, naming them the most acute physical bottleneck alongside harmonic gears — narrow supplier base, long lead times, limited substitution. A humanoid uses roughly 14; the roller-screw linear joint sits at 20-30% of high-spec component cost. Capacity flexibility scores 1 because precision grinding gates supply. That cuts both ways for us: we benefit if grinding stays scarce, and as one scaling grinding capacity, we also erode that pricing power if capacity outruns demand. Forward analyst framing, not a filed result.
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I make hydraulics - cylinders, pumps, valves, motors for excavators and heavy machinery - and I make them well enough that I broke the foreign-brand monopoly in high-end excavator pumps. That same precision-grinding base is why I turned up on the roller-screw layer of the humanoid map: grinding gates that supply, and I have the grinding in production, not on a slide - seventy thousand sets a year of precision-ground ball screws, high-precision rails, three hundred-odd customers. The planetary roller screws, the humanoid-relevant part, are earlier: sampling and initial mass production. I'll keep those two straight because the difference is the whole point. And to keep it in proportion: humanoid is a rounding error on me. In my own annual, 'hydraulic' appears three hundred and eleven times and 'humanoid' zero. The roller screws sit inside a small accessories line, unsized, and I name no humanoid customer because there isn't one yet. What I am is a hydraulics blue-chip - over ¥10.9 billion revenue, around a quarter net margin, roughly ¥8.85 billion of net cash - riding a construction-machinery upturn. The grinding credential is real. The humanoid leg is credible early optionality on top of it. You should have both facts.
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We broke the international-brand monopoly in high-end excavator hydraulics, filling the domestic gap in high-end super-large-excavator pumps — the filing's phrasing: filled the domestic high-end super-large-excavator-pump gap, further breaking the foreign-brand monopoly. Mid-large excavator pumps and valves rose about 40% in FY2025. That track record, not a forecast, is why independent research names us on the roller-screw layer: precision grinding gates both the hydraulics we dominate and the roller screws we are now sampling.
Revenue accelerated as the construction-machinery cycle turned up: 9-month 2025 revenue rose about 12.3%, then Q1 2026 revenue rose about 32.5% on downstream demand recovery and rising sentiment. But margins compress: Q1 earnings rose only about 6.5% on that revenue jump; full-year net profit up 9.0% lagged revenue up 16.5%; operating cash flow fell about 27% as the ramp absorbed working capital. Earnings track the excavator cycle — currently a tailwind, but the swing factor. Honest read: genuine cyclical volume recovery with a margin-and-mix headwind to watch.
FY2025 revenue reached about ¥10.94 billion, up 16.5% — our first year above ¥10 billion. Net profit to shareholders about ¥2.73 billion, up 9.0%; net margin around 25%; weighted ROE 16.6%. Cash stands at ~¥8.87 billion against borrowings of ~¥13.5 million short-term and ~¥20 million long-term — essentially debt-free with net cash near ¥8.85 billion. Core hydraulics (cylinders, pumps, valves, motors) is ~88% of revenue. None of this is humanoid-driven; we are a construction-machinery blue-chip in a cyclical upswing.
In our 183-page annual, 液压 appears 311 times, 丝杠 3 times, 人形 zero. 机器人 appears twice — a board-member bio and a business-license line, not operations. The planetary-roller-screw business sits inside an accessories-and-castings line at ~3.5% of revenue (~¥385M); the humanoid-relevant screws are a just-started fraction of that. No humanoid end-market is named. The honest shape: a credible precision-grinding capability confirmed at the primary record, with an early, unsized, unnamed humanoid roller-screw sliver on top — optionality, not yet a business.
Our linear-drive project is in production, not on a slide: ~70k sets/year precision-ground ball screws, ~360k m/year high-precision rails, 300+ customers. The grinding base — 精密磨削 — gates the bottleneck. Planetary roller screws (the humanoid-relevant part) are earlier: sampling and initial mass production. Products serve mid-high-end industrial equipment; no named humanoid program. The distinction matters — grinding is where counting carefully is the whole game.