Disco Corporation
ConvictionContext
Capital-equipment sales (dicing saws, laser saws, grinders, polishers -- ~64% of sales) plus a razor-and-blade recurring stream of proprietary precision dicing blades, consumables and service (~30% of sales); vertically integrated (in-house blades, air spindles) with Japan-based manufacturing. Public: TSE Prime 6146, OTC ADR DSCSY; founded 1937.
Revenue
Y436.9B FYE Mar-2026 actual~$2.8-2.9B); Y393.3B FYE Mar-2025 (~$2.6BRev growth
+11.1% FYE Mar-2026record 6th consecutive year); +27.9% FYE Mar-2025; Q1 FYE Mar-2027 guided +18% YoYGross margin
~63-66%est.; gross margin not itemized in the results summary -- consumables/blade-rich mix + weak yen support the high levelOp margin
42.3% FYE Mar-2026Y185.0B op income on Y436.9B); 42.4% FYE Mar-2025Capex intensity
~10-12% of salesest.; ongoing works/R&D-center capacity expansionMarket cap
~$58-60BY9.1T; TSE:6146, ~108.4M shares x ~Y84,500, Jul 2026); OTC ADR DSCSY mcap ~$57.6B (late-Jun 2026The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence