Why Japan’s Automation Inc is indispensable to global industry

A little-known pinch-point in the world’s supply chains 

Some of the new foreign demand is the result of the world's insatiable hunger for computer chips. SMC, which sells pneumatic control devices to chip-makers, has seen its business boom,especially as places including America and Europe strive to bring more semiconductor production home, says Masahiro Ota, who sits on SMC's board. Lasertec enjoys a near-monopoly on inspection tools for the most advanced semiconductor photomasks一plates through which circuit patterns are etched onto silicon wafers. Its share price has ballooned four-fold since the start of 2020,making it one of the best-performing blue-chip stocks in Asia. Keyence's precision sensors are likewise crucial for the detection of flaws in semiconductor Surfaces.

Insatiable /ɪnˈseɪʃəbl/ adj.不知足的；无法满足的 • an insatiable appetite/curiosity/thirst 永不满足的食欲╱好奇心╱渴望

computer chip：电脑芯片

Pneumatic /njuːˈmætɪk/adj. 1.充气的 •a pneumatic tyre 充气轮胎；2. 由压缩空气操作的；气动的；风动的 •pneumatic tools 风动工具

Photo-mask ：光罩；[电子] 光掩模

Etch /etʃ/1.蚀刻，凿出（玻璃、金属等上的文字或图画）•a glass tankard with his initials etched on it 刻有他姓名首字母的玻璃大酒杯；2.（脸上）流露出 •Tiredness was etched on his face. 从他的脸上可以看出他疲惫不堪。3.铭刻；画出…的轮廓 •a mountain etched (= having a clear outline) against the sky 在天空映衬下轮廓清晰的山；4. BE ETCHED ON YOUR ˈHEART/ˈMEMORY/ˈMIND：铭记在心；永志不忘；牢记心头

blue-chip stocks：蓝筹股，蓝筹股是指具有稳定的盈余记录，没有巨大负债的股票。

wafer/ˈweɪfə(r)/ n. 1.威化饼，薄脆饼（常与冰激凌同吃）2. 圣饼；圣体；面饼；3.~ (of sth) a very thin piece of sth 薄片

The companies' devices are, of course, also handy in other sectors. Fanuc, which makes large factory-floor robotic arms, has long been a fixture of car assembly lines. Mike Cicco,who runs Fanuc's American operations, notes that the development of electric cars requires a range of new capabilities on the part of car makers-and that in turn necessitates new types of robot.  Fanuc expects to supply Ford's factory in Cologne, in Germany, with 500 robots this year as the plant becomes the Ford Cologne Electrification Centre.

Being indispensable has proved to be lucrative. All four stars of Japans automation-industrial complex boast operating-profit margins of over 20%.That of Keyence, the most profitable of the lot, exceeds 50%. The firm has reported record net profits in each of the past three quarters. Like chip firms such as Nvidia, Keyence does not manufacture products but rather designs them and assists customers in deploying them in their factories. Lasertec, too, does little of its own manufacturing. This capital-light approach helps sustain profits. Keyence spends just 3% of its net sales on research and development (R&D). Similarly, SMC spends around 4%. Fanuc does make almost all its products independently and invests more in production capacity and R&D. But it uses that capital efficiently, not least, as befits a robot-maker, by deploying plenty of its own robots to build robots for customers. Its biggest "lights out" factory can run for more than a month with no pricey human operators around.

 译文

Some of the new foreign demand is the result of the world's insatiable hunger for computer chips. SMC, which sells pneumatic control devices to chip-makers, has seen its business boom,especially as places including America and Europe strive to bring more semiconductor production home, says Masahiro Ota, who sits on SMC's board. Lasertec enjoys a near-monopoly on inspection tools for the most advanced semiconductor photomasks一plates through which circuit patterns are etched onto silicon wafers. Its share price has ballooned four-fold since the start of 2o2o,making it one of the best-performing blue-chip stocks in Asia. Keyence's precision sensors are likewise crucial for the detection of flaws in semiconductor Surfaces.

全球对电脑芯片的旺盛需求导致企业新增海外订单。销售气压控制设备给芯片制造商的SMC迎来销售爆发期，特别是像美国和欧洲在内的地方尝试将半导体行业拉回国内。SMC董事层人员Masahiro Ota说道。Lasertec有着近乎垄断的检验工具，最先进的半导体光掩模，磨具通过电路模式蚀刻到硅晶圆片上。自2020年以来，它的股价翻了四倍，成为亚洲表现最好的蓝筹股之一。基恩士的精密传感器对于检测半导体表面的缺陷同样至关重要。

The companies' devices are, of course, also handy in other sectors. Fanuc, which makes large factory-floor robotic arms, has long been a fixture of car assembly lines. Mike Cicco,who runs Fanuc's American operations, notes that the development of electric cars requires a range of new capabilities on the part of car makers-and that in turn necessitates new types of robot.  Fanuc expects to supply Ford's factory in Cologne, in Germany, with 5oo robots this year as the plant becomes the Ford Cologne Electrification Centre.

公司的设备在其他领域也非常方便。发那科生产大型车间机械臂，长期以来一直是汽车装配线的固定设备。发那科美国分部的负责人Mike Cicco指出，电动汽车的开发需要汽车制造商的一系列新能力，而这反过来又需要新型机器人。由于位于德国科隆的工厂将成为福特科隆电气化中心，发那科预计今年将向福特德国科隆的工厂供应500台机器人。  

Being indispensable has proved to be lucrative. All four stars of Japans automation-industrial complex boast operating-profit margins of over 20%.That of Keyence, the most profitable of the lot, exceeds 50%. The firm has reported record net profits in each of the past three quarters. Like chip firms such as Nvidia, Keyence does not manufacture products but rather designs them and assists customers in deploying them in their factories. Lasertec, too, does little of its own manufacturing. This capital-light approach helps sustain profits. Keyence spends just 3% of its net sales on research and development (R&D). Similarly, SMC spends around 4%. Fanuc does make almost all its products independently and invests more in production capacity and R&D. But it uses that capital efficiently, not least, as befits a robot-maker, by deploying plenty of its own robots to build robots for customers. Its biggest "lights out" factory can run for more than a month with no pricey human operators around.

成为不可或缺的角色已经被证明是有利可图的。日本所有的四星级自动化工业联合体都拥有超过20%的营业利润率。其中利润最高的基恩士的利润超过50%。该公司在过去三个季度的每个季度都报告了创纪录的净利润。与英伟达(Nvidia)等芯片公司一样，基恩士不生产产品，而是设计产品，并协助客户在工厂中配置产品。Lasertec一样几乎不生产产品。这种轻资产方式有助于维持利润。基恩士仅将净销售额的3%用于研发。与之类似，SMC研发大概占其净销售额的4%。发那科几乎所有的产品都是独立生产的，而且在产能和研发方面投入更多。但它有效地利用了这些资产，尤其是通过部署大量自己的机器人为客户制造机器人，这符合机器人制造商的身份。其最大的“熄灯”工厂可以在没有昂贵的人工操作的情况下运行一个多月。