ASAHI EITO HOLDINGS CO.,LTD.
5341・Standard Market・Glass & Ceramics Products
Housing Business
Core business segment handling sales of sanitary/washstand equipment and architectural finishing coatings
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (H1 FY2026, ending November 2026) | ¥1,337 million | ¥1,413 million (H1 FY2025, ending November 2025) | ↓ |
| Operating loss (H1 FY2026, ending November 2026) | △¥84 million | △¥126 million (H1 FY2025, ending November 2025) | ↑ |
| Revenue (full year FY2025, ending November 2025) | ¥2,670 million | — | — |
| Operating loss (full year FY2025, ending November 2025) | △¥316 million | — | — |
| Revenue (1Q FY2026, ending November 2026, actual) | ¥675 million | — | — |
Business Details
The Housing Business sells sanitary equipment and washstand equipment such as sanitary ware and vanity units, as well as architectural finishing coatings. It is the group's largest segment, accounting for approximately 63.8% of group revenue (H1 FY2026, ending November 2026), but has continuously recorded operating losses due to a combination of rising costs from surging raw material prices and yen depreciation, together with increased SG&A expenses. In the current interim period, the loss narrowed year on year, showing signs of improving profitability.
Recent Overview
Revenue down 5.4% year on year, but operating loss improved by ¥42 million
In H1 FY2026 (ending November 2026) (December 2025 to May 2026), Housing Business revenue was ¥1,337 million (down 5.4% year on year), continuing the decline. Meanwhile, the operating loss improved by ¥42 million to ¥84 million from ¥126 million in the same period of the prior year. While weakness in the real estate business weighed on revenue, various profitability improvement initiatives led to gross margin improvement and cost reduction results, contributing to the narrowing of the loss.
Key Products
Growth Drivers
- Capturing new demand through the full-scale rollout of the Reform & Renovation Business (launched October 2024)
- Cost reduction and business structure streamlining through consolidation of sales and production sites
- Business expansion through creation of synergies among group companies
- Strengthening profitability through continued gross margin improvement and expense reduction initiatives
Risks
- Continued rise in cost of sales due to surging raw material prices and yen depreciation
- Sluggish demand in the housing equipment market and impact of price increases on personal consumption
- Material uncertainty regarding going concern assumption (unimproved profitability and financial condition across the group)
- Overseas procurement risk (exchange rate fluctuations and geopolitical risk including the Vietnam base)
- Impairment risk on fixed assets (goodwill impairment loss of ¥34 million was recorded two fiscal years ago)
- Limited synergy effects with the Lifestyle Business due to continued sluggishness in the real estate business
Last updated: February 27, 2026