Advantest makes the testing machines that check whether semiconductor chips work before they ship, like a quality-control gatekeeper for the world's chip factories.
Money comes from selling test systems and related services, with revenue hitting JPY 1196.67B in fiscal 2026 and net margins at 33.26%, showing highly profitable, recurring service and consumable sales.
Advantest dominates the SoC and memory test market, with customers like TSMC and Samsung unable to easily switch due to deep integration and high switching costs, though Teradyne and Cohu compete aggressively, making the moat eroding.
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