Mabuchi Motor

6592.TMEDIUMScore: 36.6

Coreless / Small Motors (Hands, 12 actuators per humanoid) · Weight: 4%· Data as of 2026-05-16

Investment Thesis

Specialty small electric motor maker — direct overlap with humanoid HAND actuators (12 coreless motors per humanoid hand cluster, ~17% of total BOM cost). Mabuchi has decades of small-motor scale + cost advantage. Stock +48% 52w (most modest in the JP humanoid basket) on PE 13.6x TTM = cheapest valuation among humanoid plays. Fwd PE 21.2 above TTM means consensus expects margin normalization down from FY26 +104% earnings jump. Solid dividend (3.53% yield).

Risk

Coreless motor commodity-tier exposure to Chinese small-motor makers (Welling, Bingli, etc.). High-spec humanoid hand motors typically use Maxon (Swiss) or Faulhaber (German) for premium tier — Mabuchi may sit a step below in spec/price. Auto cycle exposure (door / window / seat motors) also creates correlation with auto demand.

Monitoring Trigger

If a major humanoid OEM (Tesla / Figure / 1X) names Mabuchi or its parent group for hand actuator motors, upgrade to HIGH. Watch FY26 results commentary for robotics-specific small-motor demand.

Key Dates

2026-Q2earningsQ2 results

Key Metrics

13.6

18.3

Fwd PE

N/A

P/B

N/A

ROE

N/A

Op Margin

N/A

D/E

3.53%

Div Yield

N/A

FCF

¥388B

Mkt Cap

Business Segments

Segment	Revenue	Share	Description
Small electric motors (auto + industrial + consumer)	Major	Major	Door / window / seat / wiper motors (auto), small motors for power tools, consumer electronics, white goods.

Supply Chain Evidence

Evidence	Customer	Product	Detail
probable	Auto OEMs (global, Tier-1 supply through Denso etc.)	Small DC motors for auto interior actuators	Global Tier-1 small motor supplier.
probable	Consumer / industrial small-motor users	DC + brushless small motors	Wide product portfolio across consumer + industrial.

Primary IR Documentation

Values and insights cited from official company IR releases (earnings, 決算短信, MoUs, presentations).

Earnings archiveMabuchi Motor — 決算短信 (earnings releases)↗

Cites: Q1 FY2026 sales +7.3%, OP +66.8% YoY; FY2026/12 guidance EPS JPY 87.52 / Fwd PE 18.3x

https://www.mabuchi-motor.co.jp/investor/library/earning.html

PresentationMabuchi Motor — 決算説明会資料 (earnings call materials)↗

Cites: Earnings call slides; humanoid hand actuator angle referenced if disclosed

https://www.mabuchi-motor.co.jp/investor/library/presentation.html

IR landingMabuchi Motor — IR home↗

Cites: Full IR portal

https://www.mabuchi-motor.co.jp/investor/

Sources & References

↗StockAnalysishttps://stockanalysis.com/quote/tyo/6592/↗Mabuchi Motor corporatehttps://www.mabuchi-motor.co.jp/