OILES CORPORATION
6282・Prime Market・Machinery
Business
Oiles Corporation traces its origins to 1939 as a specialized manufacturer of oilless bearings, and now operates as a group including 15 consolidated subsidiaries. In its core Bearings business, the company manufactures and sells oilless bearings for general industrial and automotive use both domestically and internationally, with production and sales bases in North America, Europe, China, Thailand, and India. In the Structural Equipment business, the company handles Bridge Bearings as well as Seismic Isolation Devices and Vibration Control Devices, supporting the safety and security of social infrastructure. In the Building Equipment business, the company offers Window Operators and Residential Equipment. Revenue for FY2026 (ending March 2026) was ¥68,964 million, with the overseas sales ratio reaching 39.0%.
Business Model
A vertically integrated business model centered on tribology technology (friction, wear, and lubrication) and vibration control damping technology, under which the company manufactures and sells in-house developed products. Products are manufactured at domestic and overseas production sites and supplied to the general industrial, automotive, infrastructure, and construction markets through direct sales, distributors, and group sales companies. The company continues to invest in R&D at 4.3% of net sales (¥2,971 million), aiming to differentiate itself through product development targeting world-first and world-leading products.
Company Strengths
As of the end of FY2026 (ending March 2026), the company held 1,061 domestic industrial property rights (34 pending) and 1,101 foreign industrial property rights (90 pending). With 206 R&D personnel and continued R&D investment equivalent to 4.3% of net sales, the company has deepened its two core technologies of tribology and damping, forming technical entry barriers that are difficult for competitors to replicate in the short term.
The company operates manufacturing sites in the United States, Czech Republic, China (Shanghai and Suzhou), Thailand, and India, and a sales base in Germany. Overseas sales in FY2026 (ending March 2026) totaled ¥26,909 million (39.0% of net sales), up 4.7% year on year. In India, the launch of new projects contributed to results, while in China, sales for new energy vehicles grew, confirming the actual expansion of orders leveraging the company's own facilities in growth markets.
The company operates four segments serving different customers and markets: Automotive Bearings (net sales of ¥34,221 million), General Industrial Bearings (¥15,949 million), Structural Equipment (¥11,235 million), and Building Equipment (¥5,765 million). In FY2026 (ending March 2026), while Structural Equipment and Building Equipment were sluggish, General Industrial Bearings' segment profit increased 47.2% year on year, offsetting the weakness and maintaining the group's overall operating profit at ¥6,958 million.
ENVALITH's Perspective
Performance Trend
Revenue for FY2026 (ending March 2026) reached ¥68,964 million (up 2.0% year on year), achieving an increase in sales for the first time in two periods. General Industrial Bearings led the growth, up 7.5% year on year on strength in demand for semiconductor equipment and renewable energy applications, while Automotive Bearings also contributed, rising 1.2% year on year on the back of China NEV demand and new projects in India. On the other hand, Structural Equipment declined 0.7% year on year due to the recording of shipment-related costs stemming from a malfunction in performance testing equipment. Operating income came to ¥6,958 million (up 0.2% year on year), remaining essentially flat, but profit attributable to owners of parent fell sharply to ¥5,009 million (down 20.6% year on year), reflecting the recording of extraordinary losses of ¥1,478 million (of which ¥1,396 million was related to compensation losses for delivery delays). For FY2027 (ending March 2027), the company forecasts revenue of ¥72,300 million (up 4.8% year on year), operating income of ¥7,150 million (up 2.8% year on year), and net income of ¥5,050 million (up 0.8% year on year). The foreign exchange assumption is ¥154 to the US dollar.
Growth Strategy
Aiming to achieve medium-term management plan targets through concentrated investment in growth markets—semiconductors, renewable energy, EVs, and seismic isolation—combined with global sales expansion
Launching strategic products and pursuing aggressive sales activities, mainly targeting semiconductor market-related manufacturing equipment. In the renewable energy field, strengthening product deployment to capitalize on the favorable external environment expected to drive further growth going forward. In FY2026 (ending March 2026), General Industrial Bearings segment profit showed notable results, increasing 47.2% year on year.
Carefully assessing EV adoption trends while advancing product development to meet diversifying powertrain needs. Continuing to expand sales to non-Japanese automakers and secure new projects, mainly in the growth markets of India and China. In FY2026 (ending March 2026), new projects for China's NEV market and in India contributed to results, achieving a 1.2% increase in net sales year on year.
In addition to focusing on seismic retrofitting and repair work for bridges, expanding specification-in opportunities by broadening the lineup of building seismic isolation products, including those for data centers. This is premised on the normalization of shipments following restoration of performance testing equipment at the Ashikaga plant. In FY2026 (ending March 2026), order backlog decreased by ¥2,802 million compared to the end of the previous fiscal year due to the impact of equipment malfunction, making the accumulation of new orders a key challenge.
Adopting a basic policy of a consolidated dividend payout ratio of 40% or more, with plans to increase the annual dividend to ¥95 per share (payout ratio of 54.8%) in FY2027 (ending March 2027). In May 2026, resolved to conduct a share buyback of up to 1,000 thousand shares and ¥2,500 million, simultaneously advancing shareholder returns and improved capital efficiency.
Last updated: July 19, 2026