ENVALITH
大成ラミックグループ株式会社 logo

Taisei Lamick Group Head Quarter & Innovation Co., Ltd.

4994・Standard Market・Chemicals

Official website
大成ラミックグループ株式会社 logo
Taisei Lamick Group Head Quarter & Innovation Co., Ltd.4994

Business

Taisei Lamick Group Head Quarter & Innovation Co., Ltd. develops, manufactures, and sells laminate film for liquid filling used for instant noodle liquid soups, dressings, sauces, wasabi, soy sauce, and similar products as its core business. In addition, the company sells its in-house developed DANGAN Series Liquid Filling Machines alongside its film products, providing total solutions for liquid packaging processes at food manufacturers' and other companies' factories. Domestically, the company operates production bases in Saitama and Niigata, and has sales subsidiaries in the United States, Malaysia, and Thailand. In April 2025, the company transitioned to a holding company structure, placing Taisei Lamick Co., Ltd. (sales and machinery manufacturing) and DANGAN Film Co., Ltd. (film manufacturing) under its umbrella. Its main customers are manufacturing companies, primarily food manufacturers, and net sales for FY2026 (ending March 2026) were ¥32,484 million.

Business Model

The Packaging Film segment (net sales of ¥28,381 million) accounts for approximately 87% of total sales, securing continuous orders centered on Film for Liquid Filling. In the Packaging Machinery segment (net sales of ¥4,102 million), in addition to unit sales of the DANGAN Series, the company also generates recurring revenue through after-sales service, maintenance, and the H.U.G.Home (IoT Cloud Service). By offering film and machinery as an integrated proposal, the company raises customers' switching costs and builds stable trading relationships.

Company Strengths

The company's annual securities report explicitly states it is "the only company in Japan that provides both film for liquid filling and liquid filling machines in an integrated manner." By developing and manufacturing both the film and the machinery in-house, it can offer customers a total solution for their liquid packaging processes, giving it a business structure that competitors cannot easily replicate in a short period.

As of the end of FY2026 (ending March 2026), the company's outstanding borrowings stood at zero. Against total assets of ¥35,164 million, net assets amounted to ¥25,968 million, resulting in an equity ratio of approximately 73.9%. Capital expenditure funding has also been primarily sourced from internal funds, reflecting a high degree of financial stability. Despite carrying out capital expenditures of ¥2,289 million (excluding construction in progress) during the fiscal year, the company maintained a debt-free position.

In FY2026 (ending March 2026), the order backlog stood at ¥8,345,175 thousand, up 22.2% year on year. Within this, the order backlog for liquid filling machines surged 52.9% year on year, while the order backlog for packaging film also grew steadily, up 19.1%. This buildup in the order backlog, serving as a leading indicator, provides concrete grounds supporting revenue in the periods ahead.

ENVALITH's Perspective

The company's forecast for FY2027 (ending March 2026) calls for net sales of ¥36,700 million (up 13.0% year on year), while operating profit is expected to fall sharply to ¥1,300 million (down 46.2%) and net income attributable to owners of the parent to ¥950 million (down 38.9%). The short-form earnings report does not explicitly state the reasons behind this steep profit decline despite revenue growth, but it is presumed to stem mainly from the expensing of overseas expansion investments—including the establishment of a Thai subsidiary—and domestic capital expenditure. Investors need to closely examine the outlook for investment recovery and the timeline for profit recovery.

Net income attributable to owners of the parent for FY2026 (ending March 2025) came to ¥1,554 million (down 8.1% year on year), and the annual dividend was reduced from ¥80 (including a commemorative dividend of ¥10) to ¥70. The dividend payout ratio fell to 27.9% from 29.9% in the previous fiscal year. An external factor—an increase in corporate taxes and other levies (from ¥605 million in the previous fiscal year to ¥940 million in the current fiscal year)—weighed on net income. The forecast dividend for FY2027 (ending March 2026) is maintained at ¥70, but the payout ratio is expected to rise to 44.7%, meaning that a recovery in profit levels will be directly tied to the sustainability of shareholder returns.

Cash flow from operating activities came to ¥2,258 million, down 32.5% from ¥3,344 million in the previous fiscal year, mainly due to an increase in inventories of ¥762 million and an increase in trade receivables of ¥555 million. The period-end balance of cash and cash equivalents also declined by ¥1,109 million, from ¥5,781 million to ¥4,672 million. This resulted from a combination of investing activities (outflow of ¥2,266 million) and treasury stock acquisition (¥633 million). While the financial base remains solid, continued close attention is needed regarding fund flows as the large-scale investments continue into FY2027 (ending March 2026).

Growth Strategy

Pursuing sustainable growth along four axes: maximizing domestic profitability, expanding overseas, creating new businesses, and addressing environmental initiatives

Leveraging its strength in liquid sachet packaging, the company continues to implement price revisions to pass through rising raw material and logistics costs. Renovation of domestic production facilities (¥1,926 million spent on acquisition of tangible fixed assets in FY2026 (ending March 2026)) is being pursued to improve productivity and strengthen quality control. Stable supply is being secured through improved yield and maintenance of a robust supply chain.

In FY2026 (ending March 2026), Taisei Lamick (Thailand) Co., Ltd. was newly established to build a business foundation in the ASEAN region. In the Americas, favorable conditions continued in FY2026 (ending March 2026), with sales expanding to ¥3,920 million (up from ¥3,679 million in the previous period). The company aims to achieve both sales growth and improved profitability by concentrating management resources in existing regions of operation and executing strategies tailored to the needs of each region.

To address labor shortages arising from the declining birthrate and aging population, as well as changes in demand structure, the company continues to strengthen its human resources, organizational structure, and DX promotion. Software investment (period-end balance of ¥598 million, up from ¥430 million in the previous period) is progressing as part of DX promotion. Mid- to long-term incentive design for personnel is also being implemented through an executive stock delivery trust and a stock-based ESOP benefit trust.

The company is promoting supply chain optimization measures to improve profitability across the group and maintain stable supply. For FY2027 (ending March 2027), net sales are projected at ¥36,700 million (up 13.0% year on year), while operating profit is expected to decline to ¥1,300 million (down 46.2% year on year) due to increased expenses from upfront investments. Profit recovery following the investment phase is a medium-term challenge.

Last updated: July 19, 2026