Disco Corp

6146: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Disco: Initiating Coverage With a Wide Moat and a JPY 63,900 Fair Value; Shares Fairly Valued

Jing Jie Yu

Apr 2, 2026

We initiate coverage of Disco, a Japanese semiconductor equipment manufacturer that produces saws, grinders, and polishers for semiconductor wafers. Disco is the world's largest manufacturer of semiconductor dicing and grinding equipment, with an estimated market share of 60%-70%.

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Disco Corp

Disco: Initiating Coverage With a Wide Moat and a JPY 63,900 Fair Value; Shares Fairly Valued

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