The present invention relates to a notching machine which comprises a frame, a table mounted on the frame, a device for holding shearing tools on the table, a ram member vertically movably mounted on the frame, an upper shearing tool provided with the ram member, and a lower shearing tool cooperating with the upper shearing tool. The lower shearing tool is divided into a plurality of pieces. The notching machine also comprises a screw arrangement for adjustably holding the lower shearing tool in the device for holding the shearing tools. The adjustable holding of the lower shearing tool is done in such a manner that the horizontal clearance between the upper and lower shearing tools may be changed in lateral, forward and backward directions independently.