ENVALITH
ホソカワミクロン株式会社 logo

HOSOKAWA MICRON CORPORATION

6277・Prime Market・Machinery

Official website
ホソカワミクロン株式会社 logo
HOSOKAWA MICRON CORPORATION6277

Business

Hosokawa Micron Corporation, founded in 1916 and celebrating its 100th anniversary in 2016, is a global specialist manufacturer of powder technology. Its core business is the "Powder-Related Business," which provides a wide range of powder processing equipment—including Pulverizing & Classifying Equipment, Mixing & Drying Equipment, and Particle Design & Granulating Equipment—along with system engineering. The company also operates a "Plastic Film-Related Business," handling high-functionality plastic film manufacturing equipment. It forms a global group consisting of 2 domestic companies and 29 overseas consolidated subsidiaries, serving a broad customer base across industries such as chemicals, electronic materials, food, pharmaceuticals, and energy. Consolidated net sales for FY2025 (ended September 2025) were ¥77,994 million. The company is listed on the Prime Market of the Tokyo Stock Exchange.

Business Model

In the core Powder-Related Business, the company provides everything from standalone sales of pulverizing, classifying, mixing, drying and other equipment through to full systems engineering, and secures recurring revenue through aftermarket business such as Maintenance Service and parts supply after delivery. In the Plastic Film-Related Business, the company sells Multilayer High-Functionality Film Manufacturing Equipment to customers in Europe, the U.S. and Asia. The business is fundamentally build-to-order, with a structure in which the order backlog serves as a leading indicator of sales. The order backlog for FY2025 (ended September 2025) stood at ¥44,206 million.

Company Strengths

Since its founding in 1916, the company has pursued powder technology as its sole core business for over 100 years, deploying proprietary product groups such as the ACM Pulverizer, Nauta Mixer, and Nobilta to the global market. It maintains R&D bases in Japan, Europe, and the United States, continuously creating new products and technologies through synergies from the exchange of know-how across the group.

The company has 2 domestic companies and 29 overseas consolidated subsidiaries, with operations extending across the United States, Europe, Asia, Latin America, the Middle East, and Africa. In 2024, it established new bases in Jordan, Thailand, and Austria, and newly set up an after-sales service branch in India, continuing to expand its network of sites.

As of the end of the fiscal year ended September 2025, cash and deposits stood at ¥31,942 million and interest-bearing debt at ¥1,286 million, maintaining effectively debt-free operations. The current ratio stood at a sufficient 231.7%, and operating cash flow generated ¥9,499 million. Financial soundness remains high.

ENVALITH's Perspective

Operating profit for the interim period of FY2026 (ending March 2026) came to ¥1,796 million, down 49.7% year on year, marking a significant decline. To achieve the full-year forecast of ¥7,000 million (down 0.7% year on year), operating profit of ¥5,204 million is required in the second half, a pace that must substantially exceed the same period last year (¥3,478 million). A recovery in orders from Europe and normalization of SG&A expenses hold the key to second-half performance.

Triggered by the military attacks on Iran by the U.S. and Israel that began at the end of February 2026, a sharp surge in energy prices and concerns over the supply of petrochemical products have become apparent. The postponement of investment decisions, particularly for large-scale projects, has become even more pronounced, with orders received declining to ¥40,644 million (down 0.9% year on year) and the order backlog falling to ¥47,010 million (down 3.0% year on year). In the Plastic Film-Related Business, surging crude oil prices are acting as a headwind on both fronts—rising raw material costs and restrained capital expenditure by customers.

The Maintenance Service business continues to expand, with food-related equipment and systems also performing steadily, indicating steady progress in cultivating a stable revenue source. On the other hand, delayed orders in the European region led to a decline in sales and profitability, resulting in the recording of ¥384 million in business structure improvement expenses as an extraordinary loss. Segment profit in the Plastic Film-Related Business plunged to ¥75 million (down 94.2% year on year), and the normalization of profitability in both the European and film-related businesses is a prerequisite for achieving the medium-term management plan targets.

Growth Strategy

In the 18th Medium-Term Management Plan 'Unique & Dominant', the company aims to achieve net sales of ¥100,000 million and an operating margin of 10% in FY2027 (ending September 2027)

Strengthening maintenance, parts supply, and contract processing services after equipment delivery as a priority area. The expansion trend was maintained in the first half of FY2026 (ending September 2026) as well, contributing to the construction of a stable revenue base that is less susceptible to economic fluctuations.

In response to declining profitability due to order delays and revenue shortfalls in the European region, an extraordinary loss of ¥384 million was recorded for business structure improvement expenses in the first half of FY2026 (ending September 2026). The company aims to normalize profitability by reviewing its cost structure and recovering orders.

Through the establishment of new sites in Jordan, Austria, India, Thailand (Bangkok sales office opened September 2024), and other locations, the company is strengthening order acquisition in emerging markets such as Asia, the Middle East, and South America. An increase in orders for South America has also been confirmed in the Plastic Film-Related Business.

The company is capturing large-scale projects for secondary battery electrode materials, SDGs-related projects such as lignin recycling processes and rCB, and steady demand for food-related equipment and systems, aiming to shift toward a more profitable project mix. The company will also leverage the increase in capital investment projects for related industries driven by heightened geopolitical risk as a tailwind.

Last updated: July 17, 2026