What STAX Ltd. does

STAX Ltd. is a Japanese specialty manufacturer of electrostatic ("ear speaker") headphones and the proprietary driver units required to power them, operating from Fujimi City, Saitama Prefecture since 2015. Founded in 1938 by Naotake Hayashi as Showa Koon Kogyo, the company developed the world's first condenser-type headphone in 1960 and rebranded to STAX in 1963. After a 1995 insolvency caused by yen appreciation impacts on its export-heavy business, the current entity (Yugen Kaisha Stax) was established in 1996. STAX entered a capital and business partnership with Shenzhen-listed Edifier Technology in 2011 to secure succession and capital, with Edifier serving as parent. The company employs 16 people.

The core technology is push-pull electrostatic driver architecture using proprietary MLER (Multi-Layer Fixed Electrodes) — now in its third generation — fabricated via photochemical etching and heat diffusion bonding of metal plates. STAX manufactures all ear speaker units and most driver units in-house in temperature- and humidity-controlled clean rooms. The product portfolio spans five headphone tiers (flagship SR-X9000 at ¥693,000 down to entry SR-X1 at ¥66,000), a parallel range of solid-state and vacuum tube driver units (¥132,000-¥660,000), portable systems, optional DAC and phono modules, and accessories. All products use STAX's proprietary 5-pin Pro Bias connector standard.

STAX operates a channel-led go-to-market through authorized specialty audio dealers across Japan and international distributors, supplemented by its own demonstration listening room at headquarters, official e-commerce store, and active participation in audiophile trade shows (ポタフェス, ヘッドフォン祭, InterBEE, International Audio Fair). The customer base consists of long-tail audiophile consumers and, to a lesser extent, professional audio users seeking reference-grade monitoring. Revenue is generated entirely through hardware sales at premium price points, with no subscription, service, or software revenue streams disclosed.

Name

STAX Ltd.

Legal name

有限会社スタックス (Yugen Kaisha Stax)

Website

https://stax.co.jp

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

STAX Ltd. is a Japanese manufacturer of electrostatic headphones and proprietary driver units, serving audiophile consumers and professional audio users worldwide through specialty dealers since 1938. Owned by Shenzhen-listed Edifier Technology, the 16-employee firm operates from Saitama, Japan.

Ownership category

akta.pro rank

Product category

Electrostatic Headphones

NAICS

Audio and Video Equipment Manufacturing (334310)

SIC

Household Audio & Video Equipment (3651)

akta.pro primary industry

Wired Headphones & Earphones (CRACANAC)

akta.pro secondary industries

Headphones & Personal Audio Retail (Earbuds, ANC, DACs) (CRACAEAG), Audio Accessories (Ear Tips, Cables, Stands, Cases, Transmitters) (CRACANAM)

Keywords

• Electrostatic headphones
• Ear speakers
• Headphone driver units
• Audiophile audio equipment
• High-fidelity audio gear

Headquarters

HQ city

Saitama

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Electrostatic headphones (イヤースピーカー): Sale of proprietary electrostatic headphones including SR-X9000, SR-009S, SR-009D, SR-007S, SR-L700 MK2, SR-L500 MK2, SR-X1, SR-003 MK2, and SRS-002. Products range from entry-level at ¥66,000 to flagship at ¥693,000.
2. Driver units (ドライバー・ユニット): Sale of specialized amplifier units required to drive electrostatic headphones. Range from portable SRM-D10 MK2 (¥132,000) to flagship SRM-T8000 (¥660,000). Includes tube and solid-state designs.
3. Complete systems (システム): Sale of bundled headphone+amplifier systems like SRS-X1000 (¥121,000) combining SR-X1 headphone with SRM-270S driver.
4. Accessories: Sale of stands (HPS-2 ¥9,900), cables (SRE series), covers (CPC-1 ¥1,650), and eartips/earpads. Replacement parts for repairs and maintenance.
5. Optional boards for SRM-T8000: UIM-1 USB DAC module (¥132,000) and PIM-MC1 phono equalizer (¥66,000) for SRM-T8000 flagship driver unit.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

STAX Ltd. manufactures and sells electrostatic (condenser-type) ear speakers (headphones) and the matching driver units (amplifiers) required to power them. The product range spans entry-level to flagship headphones, dedicated vacuum-tube and solid-state driver units, bundled systems, and complementary accessories, all built around STAX's proprietary MLER (Multi-Layer Electrodes) push-pull electrostatic technology and assembled in-house in Saitama, Japan.

Product overview

STAX Ltd. is a specialized manufacturer of electrostatic audio products, offering a complete ear speaker ecosystem. The core product line includes electrostatic headphones (イヤースピーカー) across five tiers: SR-X9000 and SR-009S as flagship models featuring proprietary MLER (Multi-Layer Fixed Electrodes) technology; SR-009D and SR-007S as high-class models; SR-L700 MK2 and SR-L500 MK2 in the Advanced Lambda series; SR-X1 as entry model. Driver units (ドライバー・ユニット) power the headphones, ranging from SRM-T8000 flagship tube/semiconductor hybrid to SRM-700T/SRM-700S high-class units, SRM-500T/SRM-400S mid-range options, and portable SRM-D10 MK2 with built-in DAC. Pre-configured systems like SRS-X1000 and SRS-002 combine headphones with matching drivers. Optional boards UIM-1 (USB DAC) and PIM-MC1 (phono equalizer) extend SRM-T8000 functionality. Accessories include stands, cables, and CES-A1 ear tips. All products use push-pull electrostatic technology with ultra-thin diaphragms and fixed electrodes.

Differentiator

Problem solved

Functional benefit

Products and services

• SR-X9000 Flagship open-back electrostatic ear speaker featuring MLER-3 (Multi-Layer Fixed Electrodes, third generation) with a 4-layer structure combining mesh and etched electrodes via thermal diffusion bonding, 20% larger diaphragm area than SR-009S, rigid aluminum machined chassis, tilt guard mesh, and stainless steel arc assembly with 9-step click adjustment. Targets audiophiles seeking the highest-fidelity reproduction.
• SR-009S High-end open-back electrostatic ear speaker featuring MLER-2 (second-generation Multi-Layer Fixed Electrodes) with gold-plated fixed electrodes for improved conductivity and reduced resonance, ultra-thin super engineering film diaphragm, aluminum machined chassis, and paulownia wood storage case. For audiophiles.
• SR-009D High-class electrostatic ear speaker featuring MLER (Multi-Layer Fixed Electrodes) technology, reviving the legendary SR-009 with a detachable cable structure, lighter injection-molded unit case, 10-step click headband adjustment, and large circular driver unit in push-pull electrostatic configuration. Launched December 2025.
• SR-007S High-class electrostatic ear speaker with a large circular unit, featuring newly developed ARS (Anti Resonance Structure) arc assembly with seamless stainless steel plate construction for resonance suppression, new sheep leather ear pads with sound-absorbing inner surface, and re-cable compatible detachable cable structure.
• SR-L700 MK2 Upper mid-range electrostatic ear speaker in the Advanced Lambda series with MLER (Multi-Layer Fixed Electrodes), aluminum case holder, re-cable structure, 6N OFC + silver-plated copper hybrid parallel cable, and sheep leather ear pads with artificial leather mounting portion.
• SR-L500 MK2 Mid-range electrostatic ear speaker in the Advanced Lambda series with high-precision etched fixed electrodes, aluminum case holder, re-cable structure, HiFC (High-Functionality Copper) wide parallel low-capacity cable, and artificial leather ear pads with 10-step click arc assembly.
• SR-X1 Entry-level electrostatic ear speaker with heritage design inspired by the original SR-1 and SR-X models, featuring a newly designed medium-sized circular unit for flat neutral reproduction, metal frame structure, integrated arc and head pad design, and sheep leather ear pads with memory foam interior.
• SR-003 MK2 In-ear electrostatic ear speaker using 5-pin Pro Bias terminal, small circular driver unit in canal-type enclosure, compatible with desktop driver units and portable SRM-D10; includes an arc for over-ear wearing configuration.
• SRS-002 Portable analog-input electrostatic system pairing the SR-002 in-ear ear speaker with the SRM-002 portable driver unit, powered by two AA batteries and supplied with a dedicated portable 6-core low-capacity cable. (End-of-production.)
• SRS-X1000 Bundled entry-level electrostatic headphone system pairing the SR-X1 ear speaker with the SRM-270S desktop driver unit, featuring improved RCA terminals, 3mm thick aluminum front panel, and updated output stage design; suitable for desktop and bedside use.
• SRM-T8000 Flagship driver unit with vacuum tube/semiconductor hybrid circuit, low-noise dual triode E88CC in input stage, high-current emitter follower Class A semiconductor output stage, large toroidal transformer, and an optional LINE4 circuit board slot for module expansion.
• SRM-700T Vacuum tube driver unit using high-output GT tube 6SN7 in a hybrid design with custom low-noise dual FET input stage, JJ Electronic 6SN7 tubes, and a volume bypass switch inherited from the flagship SRM-T8000.
• SRM-700S All-solid-state driver unit with J-FET in both first and second-stage amplification, DC amplifier configuration without coupling capacitors, custom matched low-noise dual FET, WIMA film capacitors, and symmetric left-right main board design.
• SRM-500T Vacuum tube mid-range driver unit using 6FQ7/6CG7 tubes, hybrid DC amplifier configuration with custom low-noise dual FET input stage, and an improved power transformer with separate high/low voltage windings for efficiency.
• SRM-400S All-FET mid-range semiconductor driver unit inheriting design from SRM-700S, with custom low-noise dual FET in input and amplification stages, a new power transformer with separate high/low voltage windings, and a wider rigid chassis.
• SRM-D10 MK2 Portable driver unit with built-in USB DAC, featuring an AKM4493 DAC chip supporting DSD up to 11.2MHz and PCM 384kHz, USB-C connectivity, built-in rechargeable lithium-ion battery with approximately 3.5 hours operation, and compatibility with all STAX 5-pin Pro Bias ear speakers.
• UIM-1 USB DAC optional board for the SRM-T8000 LINE4 slot, using ESS9038Q2M DAC chips in mono mode (one per channel), supporting PCM up to 384kHz and native DSD up to 22.5MHz, with independent power supplies for CPU, DAC, and op-amp blocks.
• PIM-MC1 MC-only phono equalizer optional board for the SRM-T8000, with left-right completely independent Class A amplification DC amplifier configuration, WIMA film capacitors, and non-magnetic components, designed for high S/N performance.
• CES-A1 Ear tip and closed-type cover set for SR-003 MK2 and SRS-002, enabling portable use of open-type ear speakers by reducing sound leakage; includes CC-A1 closed cover with asymmetric layout and ET-A1 ear tips with dual-hardness design.
• STAX Accessories Branded accessories for STAX ear speakers and driver units, including the HPS-2 natural wood ear speaker stand, CPC-1 clear protection cover, and SRE series extension cables (HiFC and 6N OFC + silver-coated variants).

Quantifiable outcome

• Frequency response up to 42,000Hz on flagship models
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• HiFiMan: High-end headphone manufacturer specializing in planar magnetic drivers for the audiophile market. Targets the same premium customer segment as STAX with flagship models in similar price tiers, offering an alternative approach to high-fidelity sound reproduction.
• Audeze: US-based manufacturer of high-end planar magnetic headphones targeting the same audiophile segment as STAX. Competes directly in the premium headphone market with comparable price points ($1,000-$4,000+) and similar focus on low-distortion sound reproduction.
• Meze Audio: Romanian premium headphone manufacturer producing high-end dynamic and planar magnetic headphones. Competes with STAX in the luxury audiophile segment with flagship models like the Elite and Empyrean at comparable price points and similar handmade craftsmanship focus.
• Focal: French premium audio manufacturer producing high-end headphones including the flagship Utopia and Stellia. Directly comparable to STAX in targeting audiophile customers with luxury-priced, hand-built headphones emphasizing sound quality.
• Koss: American audio manufacturer known for the ESP/950 electrostatic headphone series. One of the few competitors offering electrostatic technology comparable to STAX, though at lower price points and with different market positioning.
• Final Audio Design: Japanese high-end headphone and IEM manufacturer targeting audiophiles with premium-priced products. Comparable to STAX as a Japan-based specialist brand serving the domestic audiophile market with similar price positioning and craftsmanship emphasis.
• Dan Clark Audio: US-based high-end planar magnetic headphone manufacturer (formerly MrSpeakers). Directly competes with STAX in the premium audiophile segment with flagship models like the Stealth and Expanse at comparable price points.

Broad incumbents

• Beyerdynamic: German audio equipment manufacturer with high-end headphone lines (T1, T5) targeting audiophiles and professionals. More diversified than STAX but competes in the same premium wired headphone category with comparable build quality and pricing.
• Sony: Global consumer electronics giant with a historical MDR-R10 flagship electrostatic headphone. While primarily focused on mass-market wireless audio, Sony represents a potential competitive threat if it re-enters the high-end audiophile category with renewed focus.
• Sennheiser: German audio equipment manufacturer with broad consumer and professional headphone lines. Most comparable through its high-end HE 1 electrostatic headphone system and HD 800 series, though Sennheiser operates at much larger scale across multiple audio categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/STAX1938
• YouTubeyoutube.com/channel/UCJ_-pPJj1o7BsyLjq4quhWA/featured?view_as=public
• Facebookfacebook.com/stax.jp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about STAX Ltd.