SEKISUI JUSHI CORPORATION
4212・Prime Market・Chemicals
Business
Sekisui Jushi Corporation is a comprehensive manufacturer that integrates manufacturing, processing, sales, and construction work, centered on two segments: the Public Sector (soundproof wall materials, traffic safety products, guardrails, artificial turf, etc.) and the Private Sector (mesh fences, packing materials, agricultural products, Aluminum-Resin Composite Panels, etc.). The company operates a group structure comprising a total of 36 companies, including 16 domestic subsidiaries, 16 overseas subsidiaries, and 3 affiliated companies, with production and sales bases also in Europe (WEMAS Group) and Southeast Asia (Thailand, the Philippines, etc.). Its major customers range broadly from public institutions such as national and local governments and expressway companies, to private-sector companies in logistics, food, agriculture, construction, and other industries.
Business Model
In the Public Sector, the company combines manufacturing and sales of products for road and traffic infrastructure with construction work, steadily capturing public investment budgets. In the Private Sector, it supplies a wide variety of products—including packing, housing/construction, and agriculture-related items—to a broad range of industries. The company primarily adopts a make-to-forecast production approach, achieving efficient profit generation by dividing manufacturing, logistics, and sales functions across the group. EBITDA is positioned as a key indicator, reflecting a structure designed to maintain cash-generating capacity while absorbing goodwill amortization arising from M&A.
Company Strengths
Of total net sales of ¥78,163 million, the Public Sector contributed ¥41,589 million and the Private Sector ¥36,573 million, with the two segments contributing almost equally. The company has a structure that allows private-sector demand to offset fluctuations in public investment, and in FY2026 (ending March 2026) both segments achieved revenue growth. This structurally reduces the risk of dependence on a single market.
WEMAS Group (Temporary Traffic Safety Products (WEMAS Group, Europe)) was consolidated in January 2024, and Riken Kogyo Co., Ltd. (Snow & Wind Protection Products (Riken Kogyo)) was consolidated in December 2024. WEMAS has generated profit exceeding its goodwill amortization, and Riken Kogyo has likewise achieved profit exceeding goodwill amortization, confirming a track record of early profit contribution following M&A.
R&D expenses for FY2026 (ending March 2026) totaled ¥1,339 million. The company continues to develop technologies across a wide range of areas, including soundproofing technology, composite extrusion molding, RFID radio wave control, IoT sensors, and next-generation traffic safety facilities (the LED information board for smart poles, "Opto Marker CONNECT"). It has also built up a track record supporting product competitiveness, such as obtaining World Rugby certification for its artificial turf for rugby.
ENVALITH's Perspective
Performance Trend
Revenue bottomed out at ¥62,790 million in FY2024 (ending March 2024) and has grown for two consecutive periods, reaching a new record high of ¥78,163 million in FY2026 (ending March 2026). This was driven by the consolidation of Riken Kogyo (Snow & Wind Protection Products) as a subsidiary and the steady performance of existing businesses. Operating profit rose to ¥5,685 million (up 13.4% year on year), returning to growth after a two-period decline, and EBITDA also improved to ¥9,718 million (up 13.6%). However, external factors such as concerns over rising procurement costs for petroleum-derived raw materials and a trend toward reduced public investment budgets have affected some businesses, while continued investment in human capital and growth, along with goodwill amortization expenses (¥1,487 million), are constraining a full recovery in profit margins. Operating cash flow improved to ¥7,994 million from ¥6,211 million in the previous period, reflecting enhanced cash-generating capability.
Growth Strategy
Realizing the 2030 vision through four pillars: M&A, overseas expansion, next-generation technology, and sustainability products
Completed the consolidation of Riken Kogyo (Snow & Wind Protection Products) and the WEMAS Group (Temporary Traffic Safety Products, Europe) as subsidiaries, both of which are generating profits exceeding their goodwill amortization amounts. The Company will continue to deepen synergies with acquired companies while exploring further M&A opportunities.
In Europe, Temporary Traffic Safety Products from the WEMAS Group are performing steadily. The Company aims to strategically accelerate global expansion, including in Southeast Asia, and to expand overseas sales (FY2026, ending March 2026: Europe ¥12,265 million, Other regions ¥2,139 million).
Focusing on infrastructure remote monitoring and disaster-prevention DX using the remote-controllable LED display board "Opto Marker ICOT," participation in demonstration experiments aimed at autonomous driving, and the establishment of RFID radio wave control technology in the logistics and store management fields. The Company aims to enhance added value and capture new demand.
The Company has announced its policy to link installation technology, which supports the adoption of promising film-type perovskite solar cells, with its diverse business foundation spanning the Public Sector to the Private Sector, thereby enhancing added value and expanding businesses that solve social issues.
Hokkaido has been designated as a key strategic region, and the Company is promoting business expansion utilizing product groups suited to regional characteristics, such as Snow & Wind Protection Products (Riken Kogyo) and Traffic Safety Products. The Company aims to strengthen its region-focused sales structure and secure new projects.
Last updated: July 19, 2026