Taki Chemical Co.,Ltd.
4025・Prime Market・Chemicals
Business
Taki Chemical was founded in 1885 (Meiji 18) and is a chemical manufacturer listed on the Tokyo Stock Exchange Prime Market, headquartered in Kakogawa City, Hyogo Prefecture. The company operates six segments: Agri (Compound Fertilizer, Phosphate Fertilizer), Chemicals (Water Treatment Chemicals, Functional Materials), Building Materials (Gypsum Board), Petroleum (Fuel Oil Sales), Real Estate (Commercial Building Leasing), and Transportation (Marine Transportation, Land Transportation). The group structure includes 15 subsidiaries and 4 affiliated companies, with consolidated net sales of ¥41,977 million for FY2025 (ending March 2025). The Chemicals business is the largest segment, accounting for approximately 48% of net sales, with Water Treatment Chemicals (Ultra-High Basicity Polyaluminum Chloride, etc.) driving growth. Major customers span a wide range, including water utilities, automotive-related manufacturers, and agricultural producers.
Business Model
The core Agri and Chemicals businesses operate an integrated manufacturing-and-sales model, handling everything from in-house production to sales. This structure secures earnings by passing on raw material price fluctuations to selling prices. The Chemicals business is highly profitable, with an operating margin of 11.4%, generating approximately 73% of group profit. Meanwhile, the Real Estate business functions as a stable earnings source with an operating margin of 54.8%, enhancing the overall earnings stability of the group. The Transportation segment, which handles intra-group logistics, also creates internal synergies.
Company Strengths
Ultra-High Basicity Polyaluminum Chloride is gaining market penetration against a backdrop of deteriorating raw water quality due to climate change and growing needs to reduce environmental burden. The Chemicals segment achieved net sales of ¥20,212 million and operating profit of ¥2,312 million (operating margin of 11.4%), functioning as the Group's largest and most profitable segment.
Since its founding in 1885, the company has diversified from fertilizer into Chemicals, Building Materials, Real Estate, and Transportation. The Real Estate business functions as a highly profitable and stable segment with an operating margin of 54.8% (net sales of ¥1,315 million, operating profit of ¥721 million), enhancing the portfolio's resilience against economic fluctuations.
The company has 76 R&D personnel (approximately 12% of the Group's total employees), and began operation of the new Nobe Research Laboratory in July 2025. It jointly developed an iPS cardiomyocyte sheet using fish scale-derived collagen material with Cuorips Inc., which was exhibited at the 2025 Osaka-Kansai Expo. The company has a track record of expansion into the life science field, including jointly filing a patent for next-generation collagen artificial hair with Svenson Corporation.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years bottomed out at ¥34,852 million in FY2023 and has since recovered, expanding to ¥41,977 million in revenue and ¥3,163 million in operating profit in FY2025. In Q1 of FY2026 (ending December 2026) [sic, per source: 8年12月期第1四半期], revenue reached ¥10,776 million (up 9.2% year-on-year) and operating profit reached ¥946 million (up 37.1%), showing an increasing sense of acceleration. As an external factor, rising raw material prices supported the pass-through of price increases, and the three core segments—Agri, Chemicals, and Building Materials—all achieved higher revenue and profit simultaneously. Full-year guidance is conservatively set at operating profit of ¥2,450 million (down 22.6% year-on-year), but the progress rate as of Q1 has already reached approximately 38.6%, suggesting room for upside. Total assets stood at ¥68,412 million, and the equity ratio was 65.7%, indicating that the financial base remains solid.
Growth Strategy
Based on the Medium-Term Management Plan 2028, the company aims to expand earnings through the enhancement of water treatment chemicals, M&A, and the launch of new products
Promoting the enhancement of production capacity for water treatment chemicals, centered on Ultra-High Basicity Polyaluminum Chloride. While incorporating the growing need for environmental impact reduction as an external factor, the company aims to expand sales volume through the establishment of an increased production system.
Rakuto Kasei Kogyo Co., Ltd. has already been made a subsidiary (Chemicals segment), with goodwill of ¥89 million recorded. The company will continue to utilize M&A as a growth means, aiming to expand the Group's business domains and generate synergies.
The company launched new pharmaceutical excipient products, aiming to reduce dependence on Functional Materials (High-Purity Tantalum Oxide) for smartphones. In the first quarter of FY2026 (ending December 2026), Functional Materials sales reached ¥1,671 million, up 13.3% year on year, demonstrating the emerging effect of new products.
Through increased fertilizer sales volume and the promotion of price pass-through, Agri sales in the first quarter of FY2026 (ending December 2026) reached ¥3,301 million (up 12.5% year on year), with operating profit of ¥197 million (up 5.4%). Based on the Medium-Term Management Plan 2028, the company will continue to expand into agriculture-related adjacent areas.
Last updated: July 17, 2026