KURAMOTO CO.,LTD.
5216・Standard Market・Glass & Ceramics Products
Business
Kuramoto Seisakusho Co., Ltd., founded in 1975 and based in Miyagi Prefecture, is a long-established manufacturer of glass substrate processing for FPD (flat panel displays). It currently operates four segments: Substrate Business, Semiconductor Processing Business, Real Estate Leasing Business, and Commercial Support Robot Business. In November 2024, the company made Aiwiz Robotics Co., Ltd. a wholly owned subsidiary through a share exchange, marking its full-scale entry into sales of AI-powered fully automatic commercial cleaning robots. In December 2025, it established KURAMOTO Perovskite Co., Ltd., laying the groundwork for a next-generation solar cell business. Major customers are Sun-A Kaken (26.5% of sales), Yoshino Trading (19.3%), and Sharp (18.1%). The company is listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
In the Substrate and Semiconductor Processing Business, the company earns revenue from contract processing utilizing its cutting and polishing technologies. The Real Estate Leasing Business is a stable foundation that maintains a high profit margin (approximately 77%) through stock-type earnings generated from owned land (¥534 million). The Commercial Support Robot Business follows a purchase-and-resale model in which cleaning robots are sold through sales agents such as Saneikaken and Yoshino Trading. Since each business has different revenue characteristics, the company aims for a structure that combines stable earnings (Real Estate) with growth investments (robots and solar cells).
Company Strengths
Since beginning LCD Glass Substrate Processing in 1976, the company has continuously deepened its cutting and polishing technology. The Substrate Business's order backlog has grown to ¥102 million, up 51.6% year on year, confirming ongoing customer inquiries backed by technological capability.
The Real Estate Leasing Business recorded segment profit of ¥73 million against sales of ¥94 million (a profit margin of approximately 77.4%). This is a stock-type business with a lightweight cost structure leveraging ¥534 million in owned land, functioning as a stable earnings source that offsets losses in other businesses.
Through the consolidation of Aiwiz Robotics, sales in the Commercial Support Robot Business expanded sharply, up 160.4% year on year to ¥1,017 million. The company has a track record of rapidly scaling up sales in a short period by leveraging existing sales agent networks including Sun-A Kaken and Yoshino Trading.
ENVALITH's Perspective
Performance Trend
For the first quarter of FY2026 (ending December 2026) (January–March 2026), net sales were ¥321 million (down 66.4% year on year), with an operating loss of ¥110 million, an ordinary loss of ¥132 million, and a quarterly net loss attributable to owners of the parent of ¥143 million. The growth trend shown over the past five fiscal years' net sales trajectory (¥1,033 million in FY2021 → ¥1,568 million in FY2024 → ¥2,011 million in FY2025) has sharply reversed. The main cause was a steep 89.1% year-on-year decline in net sales from the Commercial Support Robot Business. As an external factor, uncertainty over U.S. trade policy and the situation in the Middle East may be affecting corporate capital expenditure and purchasing decisions. Total assets stood at ¥1,935 million (up ¥115 million from the previous fiscal year-end), and the equity ratio was 31.5% (down from 39.3% at the previous fiscal year-end), indicating a continued decline in financial strength.
Growth Strategy
Following the completion of ADR debt repayment, the company is shifting into a renewed growth phase, with entry into new markets for precision processing and restructuring of the robot business as its two key pillars
On April 1, 2026, the company received a payment of ¥200 million through the issuance of new shares via third-party allotment, and on the 13th of the same month, made a lump-sum early repayment of the remaining ¥112 million in business revitalization ADR debt, thereby concluding the procedure. Furthermore, the company has secured additional fundraising capacity of up to ¥565 million through the 9th series of stock acquisition rights (3,277,700 potential shares, exercise price ¥170).
The company is advancing entry into new markets outside the Semiconductor Processing Business as a precision processing business leveraging its cutting and polishing technologies. It aims to achieve profitability by combining this with company-wide cost reductions such as lower material costs and electricity costs. However, in Q1 of FY2026 (ending December 2026), the Semiconductor Processing Business remained sluggish, with net sales of ¥31 million and a segment loss of ¥2 million, and progress in developing new markets has been limited.
While the company aims to expand sales of its AI-powered fully automatic commercial cleaning robots, in Q1 of FY2026 (ending December 2026) net sales sharply deteriorated to ¥71 million (down 89.1% year on year), with a segment loss of ¥101 million. Strengthening sales capabilities and rebuilding the sales channel through new customer acquisition are urgent priorities, and the outlook for profitability remains unclear at this time.
The company is establishing a PDCA cycle and reviewing the operation of its HR system to improve employee motivation and performance, while strengthening plan monitoring and project management. This is positioned as a foundation for improving the company-wide profit structure, but the initiatives are still in progress.
Last updated: July 17, 2026