KONISHI CO., LTD.
4956・Prime Market・Chemicals
Business
Konishi Co., Ltd. is an adhesive manufacturer founded in 1925, operating three businesses: the Bond Business (net sales of ¥74,315 million), centered on the "Bond" brand, which manufactures and sells industrial, household, and building/civil engineering adhesives, sealants, adhesive tapes, and other products; the Chemical Products Business (¥39,194 million), which functions as a specialized chemical trading company; and the Construction Business (¥23,059 million), which undertakes repair, renovation, and reinforcement works for social infrastructure and existing building stock markets. The company has 20 subsidiaries and 1 affiliate both domestically and overseas, with a broad customer base spanning industries such as automobiles, electronics/electrical equipment, construction, and housing. Consolidated net sales for FY2026 (ending March 2026) were ¥136,569 million.
Business Model
In the Bond Business, adhesives and sealants are manufactured at the company's own factories (Tochigi, Shiga, etc.) and sold to home centers, construction companies, automakers, and others. The Chemical Products Business operates as a specialized chemical trading company, earning revenue through purchasing and sales margins, while the Construction Business generates revenue from construction contracting that utilizes the Bond Business's repair and renovation adhesives and construction methods. Synergies among the three businesses enable the company to provide an integrated solution spanning from product sales to construction execution.
Company Strengths
Since its founding in 1925, the company has established the synthetic adhesive brand "Bond" and conducts continuous product development through a three-laboratory structure in Urawa, Osaka, and sealants. R&D expenses for FY2026 (ending March 2026) totaled ¥1,694 million (up 2.4% year on year). The company maintains a broad product lineup spanning industries from housing and construction to automobiles and electronics/electrical equipment, and possesses technology and brand assets that competitors find difficult to replicate in a short period.
An established intra-group synergy exists in which the Construction Business utilizes repair, renovation, and reinforcement adhesives and construction methods developed by the Bond Business at job sites. The Construction Business's order backlog at the end of FY2026 (ending March 2026) stood at ¥18,783 million (up 6.1% year on year), reflecting how the Bond Business's technological capabilities directly contribute to competitive advantage in winning construction orders.
Sales to DENSO Corporation reached ¥20,382 million in FY2026 (ending March 2026) (14.9% of total sales), up from ¥19,081 million (14.1%) in the previous fiscal year. The ongoing business relationship with major customers in the automotive and electronics/electrical equipment fields forms a stable revenue base while also serving as a foothold for expanding adoption of new products such as heat-dissipation materials and elastic adhesives.
ENVALITH's Perspective
Performance Trend
Consolidated net sales for FY2026 (ending March 2026) reached ¥136,569 million (up 0.6% year on year), marking the fifth consecutive year of revenue growth, though the growth rate slowed significantly. Operating profit came to ¥10,464 million (down 0.9% year on year), and profit attributable to owners of parent was ¥8,033 million (down 0.6% year on year), both falling below the prior-year level. Profit was squeezed by a decline in sales in the Construction Business (down 7.2%) due to delayed progress on large-scale projects, as well as an increase in selling, general and administrative expenses (from ¥16,943 million to ¥17,577 million). On the other hand, the Chemical Products business performed well, with net sales up 6.1% and operating profit up 5.4%, supported by robust demand for Heat-Dissipation Materials & Heat-Resistant Application Products amid favorable external conditions in the automotive and electronics/electrical equipment fields. Operating cash flow improved substantially to ¥13,733 million (from ¥7,174 million in the prior fiscal year), aided by improved collection of trade receivables (a decrease of ¥3,232 million).
Growth Strategy
Aiming to achieve record-high net sales of ¥150,000 million and operating profit of ¥11,500 million under the Medium-Term Management Plan 2027
In the Bond business, sales expansion of elastic adhesives used in automotive and electronic components has progressed, achieving an increase in sales in the industrial materials field in FY2026 (ending March 2026). The policy is to continue focusing on product development for the non-residential field and strengthening new customer development activities in FY2027 (ending March 2026) as well.
As part of proactive capital investment aimed at long-term growth, a new water-based adhesives manufacturing plant is under construction at the Tochigi Plant. Capital investment is planned at ¥4,212 million in FY2026 (ending March 2026) and ¥5,013 million in FY2027 (ending March 2026) (up 19.0% year on year), aiming to expand production capacity.
Against the backdrop of the promotion of the National Resilience Basic Plan, the company aims to expand orders for repair, renovation, and reinforcement works in the social infrastructure market, including bridges, and the existing building stock market. Order-taking activities are progressing well, and net sales for FY2027 (ending March 2026) are planned to increase 17.1% to ¥27,000 million.
The company is strengthening sales activities toward the automotive (hybrid vehicle), electronics/electrical equipment, and chemical industry fields, focusing on expanding sales of heat-dissipation materials and heat-resistant application products. In FY2026 (ending March 2026), progress exceeded the plan, with net sales up 6.1% and operating profit up 5.4%. For FY2027 (ending March 2026), net sales are planned at ¥42,500 million (up 8.4% year on year).
Expenditures for the acquisition of intangible fixed assets increased significantly to ¥2,454 million in FY2026 (ending March 2026) (from ¥1,064 million in the previous fiscal year), as investment in the introduction of a new core system moves into full swing. The company aims to improve profitability over the medium to long term through operational efficiency and labor-saving improvements.
Last updated: July 19, 2026