AI screening example · run on October 26, 2026

Stocks already booking sales
from quantum computers.

DARPA has kept six different approaches in the final stage of its quantum computer review. With no approach settled yet, which Japanese companies are already booking sales from quantum computers? Katana kept the 69 companies whose annual reports mention quantum, and AI read each one and supported 5.

Background

Quantum computers are selling before anyone knows which approach will win.

A quantum computer computes using the properties of atoms and particles of light. It is expected to solve problems that take today's computers far too long, such as searching for new materials or drug candidates.

On October 7, DARPA moved IBM, IonQ, Atom Computing and Diraq to the final stage of its quantum computer review. Together with Microsoft and PsiQuantum, which were already there, the six companies all use different approaches: superconducting, trapped-ion, neutral-atom, silicon, topological and photonic. The program asks whether anyone can build a quantum computer whose computing value exceeds its cost by 2033.

No approach has won, but quantum computers are already selling. IonQ's April–June revenue was $80.1 million, about four times a year earlier. Most buyers are governments and research institutes. In Japan, Fujitsu won an order for a superconducting quantum computer from the National Institute of Advanced Industrial Science and Technology (AIST) in 2024, and the Ministry of Economy, Trade and Industry secured ¥100.4 billion in a supplementary budget to industrialize quantum computers.

Japanese companies are spreading across approaches. In September, Fujitsu announced a prototype using diamond spins and tests on real neutral-atom hardware with Yaqumo, on top of its superconducting machines. In August, NTT invested in OptQC, which builds photonic quantum computers, and the two will work on the hardware supply chain from fiscal 2027. On the parts side, Oxide says in its annual report that it has started shipping 302 nm lasers for neutral-atom quantum computers.

01 / Input

The companies we wanted to find.

“We want companies that currently earn revenue from products or services for quantum computers, such as the machines themselves, their components, lasers, refrigerators, manufacturing equipment, software or cloud services, and that report a concrete step in the latest fiscal year, such as sales, orders, a product launch or shipments.”

We used a word condition to keep companies whose annual reports mention quantum (量子), turned this profile into two questions entered in English, and had the AI read each report, question by question.

02 / Conditions

The conditions we applied across Japan.

Quantitative

Katana computes its metrics for every company.

Annual report mentions “quantum” (量子)

Qualitative

AI reads each annual report and judges support and counterevidence.

Does the company currently earn revenue from products or services for quantum computers, such as quantum computers or access to them; components, lasers, optics, detectors, cryogenic refrigerators, control electronics, power supplies, connectors, or manufacturing equipment used to build or operate them; or quantum computing software, cloud services, or contract development for customers, including universities and research institutes? (Do not count only research or joint research without selling; only using quantum computers for its own R&D; only post-quantum cryptography; "quantum" in another sense, such as quantum dots or quantization; only selling non-quantum products to a customer named "quantum"; only investing in quantum companies; or only mentioning quantum computers as a trend or risk.)
Does the company report a concrete commercial step for its quantum computer products or services in the latest fiscal year, such as recognized sales, received orders, product launches, shipments, or deliveries to customers, or a decided investment to expand production for them? (Do not count research plans, joint research, demonstrations, exhibitions, selection for government research projects or grants without sales, or general statements that the quantum market is expected to grow.)

The questions were entered in English and judged in order.

~3,800listed companies

69match the numbers

5AI judged as supported

Katana

read the filings and supported 5.

03 / Results

5 supported. We added 1 that needed review and checked all 6 against the source.

Of 69 companies, 5 were supported, 18 need review and 46 had counterevidence. Below are 6, in order: machines and parts, software and systems, then manufacturing equipment added from those needing review.

Fujitsu6702 · Electric appliances

Developed a 256-qubit machine and began providing it in the April–June quarter of fiscal 2025.Filing ↗An IT services and electronics company. It began providing a superconducting quantum computer developed with RIKEN, and plans to install a 1,024-qubit-class machine at a dedicated facility in Kawasaki in fiscal 2026.
Sumitomo Heavy Industries6302 · Machinery

Released an air-cooled option for pulse tube cryocoolers used to precool the dilution refrigerators that cool superconducting quantum computers.Filing ↗A machinery company. It sells cryocoolers used to precool the dilution refrigerators that cool superconducting quantum computers, and its air-cooled option makes them easier to install in existing data centers without cooling water. It also released a rack-mounted compressor for detectors used in quantum cryptography.
Oxide6521 · Other products

Turned a 302 nm laser that controls quantum states into a product and began shipping it for quantum computers.Filing ↗A single-crystal and laser company. It turned a 302 nm laser that controls the quantum states of atoms in neutral-atom quantum computers into a product and began shipping it. Sales rose 19.6% to ¥10.0 billion.
Fixstars3687 · Information & communication

Provides Fixstars Amplify, a quantum computing cloud that makes programs for quantum computers easier to handle, mainly for combinatorial optimization.Filing ↗A software acceleration company. It provides Fixstars Amplify, a cloud that makes programs for quantum computers easier to handle, and says it kept developing it in the latest year. Sales rose 20.3% to ¥9.6 billion, with operating profit of ¥2.6 billion.
DTS9682 · Information & communication

Won an order to build a supercomputer for RIKEN's platform that links quantum computers with high-performance computing.Filing ↗A systems development company. It won an order to build a supercomputer for RIKEN's platform that combines quantum computers and supercomputers. The segment that includes this work grew sales 22.1% to ¥36.4 billion.
Samco6387 · Machinery

Sold cleaning equipment for uses including the processing of quantum devices; cleaning equipment sales rose 21.4%.Filing ↗Judged as needing review (it does not say the quantum devices are for quantum computers). A semiconductor equipment maker. Its cleaning equipment, sold for uses including processing quantum devices, rose 21.4% to ¥0.8 billion.

Note: Samco, added from those needing review, reports selling equipment used to process quantum devices. Hamamatsu Photonics says it supplies core devices for quantum fields, but its step in the latest year was selection for a government research project, so it had counterevidence. NTT and Hitachi also describe their quantum computers as at the R&D stage and had counterevidence.

04 / Takeaway

With no approach settled, sales are starting to come in approach by approach.

Of the 69 companies whose annual reports mention quantum, 5 reported a concrete commercial step for quantum computer products or services. Sorted by the approach they serve, 2 are superconducting, 1 is neutral-atom, and 2 offer software and systems that work with any approach.

Approach	Company	In the report
Superconducting	Fujitsu	Providing a 256-qubit machine
Superconducting	Sumitomo Heavy	Launched precooling cryocoolers
Neutral-atom	Oxide	Shipping 302 nm lasers
Any	Fixstars	Quantum computing cloud
Any	DTS	Order for RIKEN quantum-HPC supercomputer

The two superconducting companies play different roles. Fujitsu builds the machines, and Sumitomo Heavy Industries sells the cryocoolers that cool them. Superconducting machines must be cooled close to absolute zero, and the more qubits they have, the bigger the cooling equipment gets. Fujitsu itself names refrigerator size as one hurdle to scaling up.

Neutral-atom machines arrange and control atoms with lasers, so orders go to laser makers. Atom Computing, a neutral-atom company, also reached DARPA's final stage. Photonic machines, by contrast, run at room temperature and need no refrigerators. Which approach wins will decide which parts makers grow.

The builders have not settled on one approach either. Fujitsu is working toward a 1,024-qubit-class superconducting machine in fiscal 2026, yet in September it also announced work on diamond-spin and neutral-atom approaches. NTT is betting on photonics. Fixstars and DTS, in software and systems, keep their work whichever approach wins.

What we looked for are companies that have already taken a commercial step with quantum computer products or services, before any approach has won.

Your stock-picking, handed straight to AI.

Katana narrows companies with its own metrics, and AI reads annual reports to judge qualitative conditions. For complex theses and company profiles, the selection you used to do one company at a time, AI now runs across the Japanese market.

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