Rasa Industries, Ltd.
4022・Prime Market・Chemicals
Chemical Products Business
Lasa Industry's core segment. Manufactures and sells phosphorus-based products, coagulants, and high-purity chemicals, primarily serving the semiconductor and water treatment markets.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Sales | ¥39,956 million | ¥38,168 million | ↑ |
| Segment Profit | ¥5,531 million | ¥4,840 million | ↑ |
| Segment Profit Margin | 13.8% | 12.7% | ↑ |
| Segment Assets | ¥33,008 million | ¥29,585 million | ↑ |
| Capital Expenditures (Increase in Tangible and Intangible Fixed Assets) | ¥3,529 million | ¥1,680 million | ↑ |
| Depreciation | ¥1,391 million | ¥1,433 million | ↓ |
Business Details
Manufactures and sells phosphoric acid and phosphorus-based secondary salts, coagulants for water treatment, high-functionality high-purity chemicals for the electronics industry, deodorants & antibacterial agents, and others. Manufacturing and sales are handled by the Company and its subsidiaries Lasa Kohei Co., Ltd. and Lee Chang Precision Technology Co., Ltd. (Taiwan). High-purity products for semiconductors and coagulants for waterworks are the pillars of earnings, and this is the largest segment, accounting for approximately 84% of consolidated group sales. In FY2026 (ending March 2026), solid sales of high-purity phosphoric acid for overseas markets and increased sales of coagulants for waterworks resulted in increased revenue and profit.
Recent Overview
Driven by high-purity phosphoric acid for overseas markets and coagulants for waterworks, both sales and profit increased.
In the Chemical Products Business for FY2026 (ending March 2026), sales were ¥39,956 million (up 4.7% year on year) and segment profit was ¥5,531 million (up 14.3% year on year). Phosphorus-based products saw sluggish general-purpose sales, but overseas sales of high-purity products for semiconductors offset this, resulting in increased revenue. For coagulants, waterworks demand was solid, resulting in overall increased revenue. Raw materials for capacitors saw a slight decrease in revenue. Capital expenditures rose significantly to ¥3,529 million from ¥1,680 million in the prior period, reflecting proactive investment toward future production capacity expansion.
Key Products
Growth Drivers
- Solid trend in overseas sales of high-purity phosphoric acid against the backdrop of a recovering semiconductor market
- Continued stable public infrastructure demand for coagulants for waterworks
- Expansion of overseas high-purity product sales through the Taiwan subsidiary (Lee Chang Precision Technology Co., Ltd.)
- Strengthening of production capacity and competitiveness through proactive capital expenditure (¥3,529 million in FY2026 ending March 2026)
- Maintenance and expansion of sales to key customers TSMC and Maruzen Pharmaceutical Industries
Risks
- Risk of sudden changes in demand for high-purity products due to fluctuations in the semiconductor market
- Risk of cost ratio deterioration due to rising procurement prices of raw material yellow phosphorus
- Demand fluctuation risk from inventory adjustments in raw materials for capacitors
- Risk of deteriorating export environment due to US trade policy and geopolitical risks
- Impact of foreign exchange fluctuations (particularly yen appreciation) on the performance and translation of the Taiwan subsidiary
- Continued risk of sluggish demand for coagulants used in electronic component etching applications
Last updated: June 22, 2026