Ishikawa Seisakusho, Ltd.
6208・Standard Market・Machinery
Paper Converting Machinery
The founding business segment of the group, manufacturing and selling corrugated carton box-making & printing machinery and related equipment
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (full year FY2026 (ending March 2026)) | ¥2,694 million | ¥3,021 million | ↓ |
| Segment loss (full year FY2026 (ending March 2026)) | -¥23 million | -¥66 million | ↑ |
| Orders received (full year FY2026 (ending March 2026)) | ¥1,982 million | ¥2,551 million | ↓ |
| Segment assets (end of FY2026 (ending March 2026)) | ¥2,541 million | ¥2,723 million | ↓ |
| Depreciation (full year FY2026 (ending March 2026)) | ¥45 million | ¥54 million | ↓ |
| Increase in tangible and intangible fixed assets (full year FY2026 (ending March 2026)) | ¥66 million | ¥130 million | ↓ |
Business Details
This segment covers Ishikawa Seisakusho's manufacture and sale of paper converting machinery, including corrugated carton box-making & printing machinery. Major customers include Rengo Co., Ltd. and other companies in the corrugated cardboard and paper converting industries. Group subsidiary Issei Co., Ltd. handles manufacturing of machined parts, while Ishimex Co., Ltd. handles manufacturing of control panels and other electrical components, with the group supplying products in an integrated manner. Sales for FY2026 (ending March 2026) were ¥2,694 million, accounting for approximately 14.6% of company-wide sales of ¥18,473 million. Although the segment loss has been trending toward contraction, losses have continued nonetheless.
Recent Overview
Sales and orders received both continued to decline, but the segment loss narrowed significantly
In FY2026 (ending March 2026), sales were ¥2,694 million (down 10.8% year on year) and orders received were ¥1,982 million (down 22.3% year on year), with declines in both revenue and orders continuing. On the other hand, the segment loss narrowed to -¥23 million (compared to -¥66 million in the prior period), showing signs of improving profitability. Capital expenditure was also curbed at ¥66 million (compared to ¥130 million in the prior period), improving asset efficiency. The segment continues to await a recovery in capital investment demand from the corrugated cardboard and paper converting industries.
Key Products
Growth Drivers
- Recovery in capital investment demand from the corrugated cardboard and paper converting industries
- Profitability improvement through cost reduction and operational efficiency (group policy)
- Sales expansion through improved product reliability (stated explicitly in management policy)
- Quality improvement through skill development and technology transfer
Risks
- Continued decline in orders received (down 22.3% year on year in FY2026 (ending March 2026))
- Low profitability due to segment losses recorded for three consecutive periods
- Dependence on capital investment trends of major customers such as Rengo Co., Ltd.
- Shrinking business base due to declining share of company-wide sales (from 18.6% in the prior period to 14.6% in the current period)
- Relative decline in investment priority due to concentration of management resources on the Defense Equipment segment
Last updated: June 18, 2026