MARUYAMA MFG. CO., INC.
6316・Standard Market・Machinery
Agricultural & Forestry Machinery
The core segment of Maruyama Mfg. Co., Inc., selling pest control machinery, brush cutters, and related products both domestically and overseas.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment net sales (cumulative first half) | ¥15,195 million | ¥14,163 million | ↑ |
| Segment operating income (cumulative first half) | ¥851 million | ¥216 million | ↑ |
| Year-on-year change in net sales | +7.3% | — | ↑ |
| Year-on-year change in operating income | +293.9% | — | ↑ |
| Share of consolidated net sales (first half) | approx. 74.7% | approx. 77.4% | ↓ |
Business Details
The core segment of the Group, engaged in the manufacture and sale of Power Sprayers & Power Dusters, Large Pest Control Machinery, Brush Cutters, and other products. Domestically, the main channels are agricultural distribution (Zen-Noh, Kubota, etc.) and home center distribution, while overseas the Group operates local subsidiaries in Thailand, the U.S., Colombia, and elsewhere. This segment accounted for approximately 74.7% of consolidated net sales (¥15,195 million out of ¥20,349 million) in the first half of FY2026 (ending March 2026). Demand for agricultural machinery has continued to increase against the backdrop of soaring rice wholesale prices, and the Group is promoting sales expansion measures centered on Large Pest Control Machinery and rice cultivation-related machinery.
Recent Overview
Net sales and profit both improved significantly, driven by the success of the power sprayer campaign and increased sales to North America.
In the first half of FY2026 (ending March 2026) (October 2025 to March 2026), net sales in the Agricultural & Forestry Machinery segment increased significantly to ¥15,195 million (up 7.3% year on year), and operating income rose to ¥851 million (up 293.9% year on year). Domestically, power sprayers increased through agricultural distribution channels, and cold storage units increased through home center distribution channels. Overseas, sales of power sprayers and brush cutters to North America increased. The Colombian subsidiary (MARUYAMA COLOMBIA S.A.S.) was newly consolidated starting from this interim period.
Key Products
Growth Drivers
- Expanding demand for Large Pest Control Machinery and power sprayers in domestic agricultural distribution channels (continued increase in agricultural machinery demand due to soaring rice wholesale prices)
- Sales promotion effect from the power sprayer model-change commemorative campaign (achieved results exceeding the prior year)
- Expansion of market share through new sales channel development for power sprayers and brush cutters in North America
- Strong sales of new brush cutter products at the Thai local production subsidiary
- Full-scale entry into the South American market through the commencement of operations of the Colombian subsidiary (MARUYAMA COLOMBIA S.A.S.)
- Strengthening of the earnings base through expansion of the After-Sales Service Business (regular inspection and maintenance system for Large Pest Control Machinery and drones)
- Maintaining overseas market share through the introduction of models specified for Korea and Taiwan
Risks
- Risk of declining sales of agricultural and forestry machinery to North America (impact of U.S. trade policy and tariff trends)
- Risk of deteriorating cost ratio due to persistently high raw material prices and exchange rate fluctuations
- Seasonal fluctuations and weather dependency of domestic demand in the agricultural machinery industry
- Startup costs and operational risks associated with overseas local subsidiaries (e.g., Colombia)
- Increased procurement and delivery costs due to supply chain disruptions and rising logistics costs
- Fluctuations in financial and capital markets and rising raw material prices due to geopolitical risks such as the situation in the Middle East
Last updated: December 17, 2025