In a punching apparatus comprising: a punching station A for punching a large number of sheet products by a punching die 20 from a long material sheet 1 which is transferred in a horizontal direction; and a take-out station for taking out the sheet product punched by the punching die 20, wherein the punching die 20 has a structure that a blade portion of a tip end peripheral edge of a vertically penetrating die hole is brought into contact with the material sheet 1 under pressure, thereby sequentially punching the sheet products from the material sheet 1 and accommodating the sheet products in the die hole in a laminated state, and the take-out station includes an extrusion pusher for pushing out the sheet products which are accommodated in the laminated state from the die hole 28, the punching die is disposed below a transfer region of the material sheet to prevent the sheet product from falling onto the material sheet 1 from the die hole.