PURPOSE: To correct a deformed substrate in a flat state, and to cut leads in a uniform length by a rotary cutter by feeding the substrate to the cutter with attracting means and positioning pins suspended from a base member which moves upward or downward.

CONSTITUTION: First and second base members 1, 2 are independently moved upward or downward by a pneumatic mechanism or the like, the member 2 is moved down, the lower ends of positioning pins 3, 3,... and the lower ends of vacuum pads 8, 8,... are set to reference positions, the upper surface of a substrate A in which dip-soldered leads 9, 9,... protrude downward is attracted by the pads 8, 8,..., are positioned by the pins 3. 3,... fed in this state, and the leads 9, 9,... are cut. Here, if the substrate A is warped to be deformed upward, the pins 3,... are moved down, the upper surface of the substrate A is pushed, while if the substrate is warped to be deformed downward, the pins 3,... are set at the reference positions, the substrate A is attracted by the pads 8,..., and flattened by the contact of the pins 3,... with the substrate A.