Omron
6645.TMEDIUMScore: 50.4Automation Components / PLCs · Weight: 5%· Data as of 2026-04-16
¥5,588+0.27%
6-month dailyInvestment Thesis
Quality Japanese FA franchise trading at P/B 0.94 — priced for distress. IAB segment (45% rev) has best-in-class sensors, PLCs, safety. China FA recovery from -22.6% trough would drive margin recovery from 6% toward historical 12-14%. Healthcare (blood pressure) levered to aging demographics.
Risk
1) China/IAB recovery timing uncertain. 2) GPT FINDING: restructuring risk understated — portfolio execution around device-and-module reshaping is also material, not just macro rebound. 3) Named customer list not publicly confirmed. Should be explicitly tagged as speculative/turnaround.
Monitoring Trigger
IAB quarterly order intake turning positive YoY (May 2026 earnings). China PMI > 51.
Key Dates
2026-05-09earningsEarnings announcement for Omron
2026-05-09monitoringIAB quarterly order intake turning positive YoY (May 2026 earnings). China PMI > 51.
2026-06-30rebalanceSemiannual portfolio rebalance
Key Metrics
38
PE
22.57
Fwd PE
1.01
P/B
2.3%
ROE
6.1%
Op Margin
24%
D/E
2.2%
Div Yield
+¥5.9B
FCF
¥979B
Mkt Cap
Business Segments
| Segment | Revenue | Share | Description |
|---|---|---|---|
| Industrial Automation (IAB) | ¥376B | 45% | PLCs (Sysmac), sensors, safety, cobots, AMRs |
| Healthcare | ¥209B | 25% | Blood pressure, cardiac monitoring |
| Social Systems | ¥125B | 15% | Rail, energy management |
| Devices & Modules | ¥125B | 15% | Relays, switches, PCBs |
Supply Chain Evidence
| Evidence | Customer | Product | Detail |
|---|---|---|---|
| confirmed | Toyota | Safety systems for manufacturing | Long-standing supplier |
| confirmed | Panasonic | Manufacturing line automation | Sensors, PLCs |
| probable | TSMC / Samsung fabs | Fab automation sensors | Vision, proximity sensors for fab equipment |