To provide a cable-cutting and striping device, which is suitable for multikind and small-quantity production and can sharply shorten the time spent in a train of processing, and its method.

An upper cutting and nicking mechanism reciprocates a mobile part 16 including an upper cutting edge 13 and nicking edge 14 in a vertical direction to the shifting direction of a covered cable 4. Moreover, as the displaceable position of the mobile part 16, a retreat position, a cutting position, the first nicking position, and the second nicking position are set. In the retreat position (a), both the cutting edge 13 and the nicking position 14 do not abut on the covered cable 4. In the cutting position (b), the cutting edge 13 cuts the covered cable 4 without the nicking edge 14 abutting on the covered cable 4. In the first nicking position (c), it becomes possible for the nicking position 14 to nick the covered cable 4 and for the cutting position 13 to cut the covered cable 4. In the second nicking position (d), the cutting edge 13 slits the covered cable 4 without the nicking edge 14 abutting on the covered cable 4.