Horiba Ltd. engages in the manufacture and sale of instruments and systems for industrial applications. It operates through the following segments: Automotive Test Systems, Process and Environmental Instruments and Systems, Semiconductor Instruments and Systems, Medical-Diagnostic Instruments and Systems, and Scientific Instruments and Systems. The Automotive Test Systems segment sells emission measurement systems, automotive emission analyzers, onboard emission measurement systems, driveline test systems, engine test systems, break test systems, and drive recorders. The Process and Environmental Instruments and Systems segment manufactures stack gas analyzers, water quality analysis and examination systems, air pollution analyzers, and environmental radiation monitor. The Semiconductor Instruments and Systems segment includes mass flow controllers, chemical concentration monitors, reticle/mask particle detection systems, and residual gas analyzers. The Medical-Diagnostic Instruments a