An electronic component placement machine and an electronic component placement method are disclosed in the present invention. A takeout and transfer head, provided on rotary chip takeout and transfer mechanism, removes a chip from a feeder and flips it. A placement head receives the flipped chip and places it onto a board. An image of the chip at a pre-centering recognition position is captured during a takeout and transfer operation, during which the takeout and transfer head transfers the chip to the placement head at a receiving position, so as to recognize the position. Based on this positional recognition result, the chip and the placement head are positioned by controlling a placement head driving mechanism. Moreover, the takeout and transfer head is rotated to a position which does not hinder image capturing of the electronic component for placement positioning.