Abstract: A separating/punching device is provided which can simultaneously separate an outer and inner cylindrical portion of a cylindrical piece from each other and remove a bottom from the inner cylindrical portion by punching as a single step. A fixed die assembly includes a die having a setting hole, and a tubular fixed punch for separation having its tip inserted in the setting hole of the die. A movable die assembly movable toward and away from the fixed die assembly includes a tubular movable punch for separation which can fit around the tip of the fixed punch, and a punch mounted coaxially in the movable punch for punching out the bottom of the cylindrical piece.