ENVALITH
日精エー・エス・ビー機械株式会社 logo

NISSEI ASB MACHINE CO., LTD.

6284・Prime Market・Machinery

Official website
日精エー・エス・ビー機械株式会社 logo
NISSEI ASB MACHINE CO., LTD.6284

Business

Nissei ASB Machine Co., Ltd. operates a single business manufacturing and selling stretch blow molding machines, dedicated molds, and auxiliary equipment/parts for producing various plastic containers, including PET bottles. Founded in 1978, the company is headquartered in Komoro City, Nagano Prefecture, and operates across four regions—Americas, Europe, South & West Asia, and East Asia—through 14 subsidiaries. Its core offering is the 1-Step machine featuring the proprietary "4-station system," which excels in small-to-medium lot production of diverse, complex-shaped containers for non-beverage applications such as food, daily necessities, and cosmetics. Manufacturing bases are concentrated in Japan (Nagano Prefecture) and India (ASB INTERNATIONAL PVT. LTD.), with the company providing products and technical services to customers globally through sales subsidiaries located around the world.

Business Model

In addition to selling the main molding machine unit, the company provides Dedicated Molds, Auxiliary Equipment, and Parts, Other (maintenance services) in an integrated manner, generating revenue across the customer's entire equipment lifecycle. In the product-line sales for FY2025 (ending September 2025), molding machines totaled ¥22,535 million, molds ¥12,760 million, and parts and other ¥5,650 million, with molds and parts together accounting for 42% of the total, forming a stable base of recurring revenue. The "trinity of technical support," in which engineers visit customer sites, enhances customer loyalty and has helped maintain a high order backlog of ¥17,281 million.

Company Strengths

In addition to a proprietary system that completes the four processes of preform molding, temperature adjustment, blow molding, and removal in a single unit, the company has commercialized the "Zero Cooling System." This is the industry's only technology that simultaneously improves container productivity, physical strength, appearance quality, and weight reduction, with domestic and international intellectual property rights reaching 1,353 cases, including applications pending.

In FY2025 (ending September 2025), sales reached record highs for the full fiscal year in all segments: Americas ¥14,119 million, Europe ¥8,083 million, South & West Asia ¥13,042 million, and East Asia ¥8,408 million. The four-pole structure, which limits dependence on any specific region, enhances resilience against geopolitical risks and economic fluctuations.

ASB INTERNATIONAL PVT. LTD. (India), established in 1997, has expanded to a third plant, and production volume in the South & West Asia segment reached ¥29,193 million (116.7% year-on-year) in FY2025 (ending September 2025). By leveraging India's manufacturing cost advantages and manufacturing subsidy policies, the company maintains group-wide cost competitiveness through a two-site production structure together with the Japan head office.

ENVALITH's Perspective

In the first half of FY2026 (ending March 2026), net sales came to ¥24,041 million (up 9.8% year on year), operating profit was ¥6,506 million (up 18.8%), and net income attributable to owners of the parent for the interim period was ¥4,784 million (up 19.3%), with profit at every stage renewing its interim-period record high. On the other hand, while the order backlog increased to ¥21,850 million (up 13.5% from the end of the same period last year), the difference between orders received of ¥28,657 million and net sales of ¥24,041 million (i.e., the net addition to the backlog) was only ¥4,616 million, and the pace of accumulation from the previous fiscal year-end backlog of ¥19,247 million needs to be monitored. The interim progress rate against the full-year sales forecast of ¥50,000 million was 48.1%, generally on track, but the pace of order fulfillment in the second half will be key to achieving the full-year target.

The Americas segment recorded orders received of ¥10,606 million (148.0% year on year) and net sales of ¥8,133 million (116.9% year on year), both record highs, while segment profit fell sharply to ¥964 million (72.5% year on year). Although part of the tariff costs has been absorbed through price pass-through to customers, the remaining tariff burden and increased exhibition expenses are weighing on profit. Depending on how US tariff policy develops, the impact on profit margins may continue into the second half and beyond, making progress on price pass-through and changes in tariff policy key items to monitor for Americas profitability.

The full-year earnings forecast for FY2026 (ending March 2026) was revised upward to net sales of ¥50,000 million (up 14.5% year on year), operating profit of ¥13,000 million (up 22.2%), and net income attributable to owners of the parent of ¥9,100 million (up 17.6%) (a revision from the forecast announced on November 12, 2025). The annual dividend forecast was also raised to ¥240 (an increase of ¥40 from ¥200 in the previous fiscal year). Because foreign exchange fluctuations (yen depreciation/appreciation) directly affect the company's sales and profit given its high export ratio, the gap between the exchange rate assumptions and actual market rates remains an uncertainty for the full-year results. Sluggish economic conditions and intensifying competition in the Chinese market within the East Asia segment also warrant continued attention as medium- to long-term risks.

Growth Strategy

Continuing to drive orders and sales growth across all regions, centered on the '4S Concept' and technological innovation

The company advocates the '4S Concept'—labor-saving, energy-saving, space-saving, and material-saving—and is promoting its material-saving solution, the 'Zero Cooling System,' globally. Amid an ongoing market environment of rising raw material prices, the company has captured demand as a solution to customers' management challenges, achieving orders of ¥28,657 million in the current interim period (up 125.1% year on year), a record high for an interim period.

The company is steadily converting inquiries obtained at major trade shows, such as 'K2025,' the world's largest plastics exhibition held in Germany at the start of the period, into firm orders. Orders reached record interim highs in three regions—Americas, Europe, and South & West Asia—demonstrating the tangible results of trade show investment. Trade show expenses, treated as one-time costs, were absorbed by the increase in revenue.

The company continued maintenance capital investment at its India factory (investing activities cash flow expenditure of ¥962 million in the current interim period), sustaining its competitiveness as a manufacturing base. By capturing domestic demand in the Indian market and strengthening the product supply system for the entire group, both orders and sales in the South & West Asia segment reached record highs for an interim period.

The annual dividend forecast for FY2026 (ending September 2026) has been raised to ¥240 (an increase of ¥40 from ¥200 in the previous fiscal year). The dividend increase, linked to the upward revision of earnings, clearly demonstrates the company's commitment to returning profits to shareholders. Interim net income per share rose sharply to ¥319.14, up from ¥267.42 in the same period of the previous year.

Last updated: July 17, 2026