Titan Kogyo, Ltd.
4098・Standard Market・Chemicals
Titanium Dioxide Business
Core segment of Titan Kogyo manufacturing and selling Titanium Dioxide, Ultrafine Titanium Dioxide, etc.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (FY2026 full year, ending March 2026) | ¥4,981 million | ¥4,609 million | ↑ |
| Operating profit (FY2026 full year, ending March 2026) | ¥108 million | ¥1 million | ↑ |
| Segment assets (FY2026 full year, ending March 2026) | ¥8,083 million | ¥8,692 million | ↓ |
| Depreciation (FY2026 full year, ending March 2026) | ¥584 million | ¥599 million | ↓ |
| Capital expenditures (increase in tangible and intangible fixed assets, FY2026 full year, ending March 2026) | ¥28 million | ¥34 million | ↓ |
Business Details
Manufactures and sells Titanium Dioxide and high-value-added products such as Ultrafine Titanium Dioxide and Lithium Titanate. Major customers include Toshiba Corporation, Inabata & Co., Ltd., and Morishita Sangyo Co., Ltd. Applications extend to toner external additives, cosmetics, battery materials, etc. Domestic sales are the mainstay, but the segment also expands into Asia, North America, and Europe. Core technologies such as particle shape control, particle size reduction, and surface treatment are the segment's strengths.
Recent Overview
Net sales up 8.1% and operating profit up ¥107 million on expanded cosmetics sales and price increase effects
In FY2026 (ending March 2026), the combined effect of increased shipments of cosmetics-related products and continued price increases expanded net sales to ¥4,981 million (up 8.1% year on year). Operating profit improved significantly to ¥108 million (versus ¥1 million in the prior year), with cost reduction efforts also contributing to the earnings recovery. Segment assets decreased by ¥609 million year on year to ¥8,083 million, indicating improved asset efficiency.
Key Products
Growth Drivers
- Expanded sales of Ultrafine Titanium Dioxide for cosmetics applications (a key strategic focus of the 7th Medium-Term Management Plan)
- Earnings improvement through continued implementation of sales price increases (achieved operating profit of ¥108 million in FY2026, ending March 2026)
- Improved profit and loss structure through thorough cost reductions
- Development of new markets such as electronic materials (MLCC, semiconductors), conductive materials, and environmental energy
- Increased shipments driven by recovering demand for toner external additive products
Risks
- Risk of demand fluctuation in the toner market (progress of e-books and paperless trends)
- Risk of cost pressure from persistently high raw material and fuel prices
- Depreciation remains at a high level relative to net sales (¥584 million), posing a risk of earnings deterioration in the event of a decline in the utilization rate
- Impact on demand and costs from geopolitical risks such as U.S. trade policy
- Capital expenditure remains at a low level (¥28 million), posing a risk to future maintenance and expansion of production capacity
Last updated: June 24, 2026