TIGERS POLYMER CORPORATION
4231・Standard Market・Chemicals
Japan
Core segment responsible for domestic manufacturing. Offers a broad range of hoses, rubber sheets, and automotive parts
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (segment total) | ¥23,655 million | Not disclosed | — |
| Operating profit (segment total) | ¥965 million | Not disclosed | ↓ |
| Segment assets | ¥42,543 million | Not disclosed | — |
| Depreciation | ¥1,109 million | Not disclosed | — |
| Capital expenditures (increase in tangible and intangible fixed assets) | ¥929 million | Not disclosed | — |
| Income taxes paid (consolidated total, post-correction) | ¥406 million | ¥582 million (pre-correction) | ↓ |
Business Details
Tigers Polymer Corporation itself, together with domestic subsidiaries such as Mukogawa Chemical Co., Ltd., Rubber Flex Co., Ltd., and Takatsuki Chemical Co., Ltd., handle manufacturing and sales. The segment supplies four product groups to the domestic market: Industrial Hoses and Home Appliance Hoses (for vacuum cleaners, washing machines, and air conditioners), Rubber Sheets (packing materials, cushioning materials, entrance mats, etc.), and Rubber & Resin Molded Products (automotive parts). Honda Motor Co., Ltd. is a major customer, and the basic strategy is to capture high market share in domestic niche markets.
Recent Overview
An error was found in the cash flow statement of the financial results, and a correction was announced on June 18, 2026
Regarding the FY2026 (ending March 2026) financial results announced on May 13, 2026, an error was found in the consolidated statement of cash flows. Income taxes paid was corrected from ¥582 million to ¥406 million, "Other" was corrected from ¥102 million (income) to -¥74 million (expenditure), and the subtotal was corrected from ¥2,606 million to ¥2,430 million. In addition, in investing activities, proceeds from sales of investment securities were corrected from ¥617 million to ¥417 million, and "proceeds from redemption of investment securities" of ¥200 million was newly recorded. Total cash flow from operating activities (¥2,416 million) and total cash flow from investing activities (-¥123 million) remained unchanged before and after the correction.
Key Products
Growth Drivers
- Spread of the effect of price increases in Industrial Hoses, Rubber Sheets, and Automotive Parts
- Increase in sales volume (Industrial Hoses, Home Appliance Hoses, and Automotive Parts)
- Maintaining high market share in domestic niche markets and domestic sales expansion activities by the sales department
- Promoting productivity improvement and cost reduction through the introduction of automated equipment
- Expansion of sales to Honda Motor Co., Ltd. (¥20,632 million in the current fiscal year, 41.8% of total group sales)
Risks
- Profit margin pressure from increases in various expenses such as labor costs, raw material costs, and logistics costs (full-year operating profit down 2.9% year on year)
- Risk of continued surge in raw material and energy prices
- Risk of sales concentration on a major customer (Honda Motor Co., Ltd.) (approximately 41.8% of group sales)
- Risk of declining demand for home appliances and housing-related products due to a slowdown in personal consumption caused by price increases
- Impact of protectionist trends such as U.S. tariff policy on domestic manufacturing costs and the export environment
- Risk related to the accuracy of financial reporting (this financial results correction matter)
Last updated: June 25, 2026