Sekisui Plastics Co.,Ltd.
4228・Prime Market・Chemicals
Human Life Segment
Domestic-focused segment handling agricultural/marine, food container, and construction materials
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥52,398 million | ¥54,976 million | ↓ |
| Segment profit | ¥3,034 million | ¥3,006 million | ↑ |
| Segment assets | ¥59,751 million | ¥66,447 million | ↓ |
| Depreciation | ¥2,065 million | ¥2,081 million | — |
| Increase in property, plant and equipment and intangible assets | ¥1,792 million | ¥2,665 million | ↓ |
| Net sales to major customer (Fpco) | ¥18,439 million | ¥20,023 million | ↓ |
Business Details
Centered on expanded polystyrene sheet (Eslen Sheet) and expandable polystyrene beads (Eslen Beads), this segment manufactures and sells transport containers for agriculture and fisheries, food packaging materials, and construction/civil engineering materials. The major customer is Fuji Package Co., Ltd. (Fpco), a leading food container maker (¥18,439 million in net sales for FY2026 (ending March 2026)). Expanding environmentally contributive products, such as resource-saving materials and recycled raw material utilization, is a key pillar for strengthening the earnings base. The segment operates mainly in the domestic market, with civil engineering materials also performing well, capturing demand related to urban development and disaster prevention/mitigation.
Recent Overview
Net sales declined 4.7% year over year, but segment profit rose slightly, maintaining profitability
In FY2026 (ending March 2026), net sales in the Human Life Segment were ¥52,398 million (down 4.7% year over year), and segment profit was ¥3,034 million (up 0.9% year over year). While sluggish demand for food container applications and declining catch volumes in marine applications weighed on sales, resource-saving and environmentally conscious products performed steadily. In the housing/energy domain, stormwater storage countermeasure products and FJ Ring performed well, and profit levels were maintained through sales price optimization and cost reduction activities.
Key Products
Growth Drivers
- Expanding demand for resource-saving and environmentally contributive products (RNW, etc.) and increased adoption by consumer cooperatives and mass retailers
- Increased project acquisition for civil engineering materials used in urban development and infrastructure construction (stormwater storage, lightweight embankment, FJ Ring)
- Deepening food container applications through joint development with major customer Fpco (¥18,439 million in net sales for FY2026 (ending March 2026))
- Earnings improvement through sales price optimization, cost reduction, and fixed cost reduction (segment profit up 0.9% year over year in FY2026 (ending March 2026))
- Share-growth strategy centered on resource circulation and resource conservation under the medium-term management plan "Going Beyond 2027"
- Market share expansion through increased substitution demand from other materials
Risks
- Structural decline in demand for marine applications (foam boxes for fresh fish, aquaculture use) due to declining catch volumes
- Sluggish demand for building materials-related products (insulation materials, etc.) due to weak housing starts
- Risk of declining food container demand due to consumers' cost-saving mindset amid price increases
- Risk of delayed pass-through of raw material (polystyrene, etc.) price fluctuations to product prices
- Risk of fluctuation in agricultural application shipment volumes due to unfavorable weather
- Risk of demand fluctuation in heat-resistant container applications due to weather factors such as extreme heat
Last updated: June 23, 2026