The invention discloses a cut-and-clinch apparatus and a substrate work machine. The purpose of the present invention is to improve positional accuracy for a pair of movable elements which approach and separate from each other by means of one drive source. The relations between setting pitches, pitch deviation amounts, axis deviation angles, and central point deviation amounts for the pair of movable elements are stored as a deviation table. On the basis of the deviation table and a target pitch determined by the interval between leads of a lead component to be inserted into a substrate, a pitch deviation amount, axis deviation amount, and central point deviation amount for that target pitch are acquired by means of an interpolation technique (S25). Control instruction values for an x-axis motor, y-axis motor, [theta]-motor, and P-motor are created taking into account correction values corresponding to the abovementioned deviation amounts, and control is performed accordingly (S26 to S28). As a result, it is possible to accurately control the positions of the pair of movable elements, and it is possible to perform control so that lead insertion holes reach positions facing through-holes provided on the substrate. Therefore, the leads of a lead component are better inserted into the lead insertion holes, and it is possible to better perform a cut-and-clinch operation.