Research Coverage


Code: 6871Last Update:
Research Reports
Download Research Report

Micronics Japan Co., Ltd. (MJC) is the No. 3 probe card manufacturer in the world with a market share of 13%. It is second only to market leader FormFactor, Inc. (US), which boasts a share of 30% (according to Electronic Device Industry News). Probe cards are jigs used for electrical testing of integrated circuits (ICs) on semiconductor wafers before the wafers are diced into dies. As consumable products, they have a life ranging from several months to two or three years depending on the type and application. They are one of the key components in the testing process for semiconductor wafers, along with testers and probers. Probe card can be classified into two categories by application: 1) memory such as DRAM and NAND flash, and 2) non-memory such as microprocessor and logic ICs for computing applications that perform computing. MJC has some competitive advantage in memory probe cards (which account for roughly 80% of its probe card sales). It is the leading global supplier of memory probe cards with a share of about 30%, and develops and manufactures its products in-house. It collaborates with and supplies products to major memory manufacturers and other semiconductor companies around the world. It also provides equipment related to probe cards such as probers and testers.

Our Policy

We interview management for hours, asking exhaustive questions to uncover the essence of the business.

We pinpoint strengths and weaknesses, and discuss strategy. Our aim is to make deep knowledge about the company readily available, saving investors time and enabling dialogue.

Our Research

We start our coverage with a substantial core report. We then continuously update this report to reflect earnings, newsflow, and any material developments. We interview the management quarterly to help you stay on top of the story.

Our report is an authoritative Owner’s Manual of the company—a vital piece in the investor’s toolbox.

For Investors

If you find our efforts valuable, please tell companies you want them to join our growing client list.