Meiji Machine Co.,Ltd.
6334・Standard Market・Machinery
Business
Meiji Machine Co., Ltd. is an industrial machinery manufacturer founded in 1899, with core operations in plant construction work for the new construction, expansion, and renovation of flour mills and feed mills, and in the manufacturing and sale of industrial machinery such as roll machines, hammer mills, and automatic bag openers. Its main customers are food and beverage manufacturers in the feed, flour milling, and brewing industries, with major agricultural-affiliated clients such as JA Zen-Noh Kumiai Feed Co., Ltd. The company has five consolidated subsidiaries, including operations in China for the manufacture of milling rolls (Meiji Machine (Dezhou) Co., Ltd.) and the manufacture of flour milling machinery (Yanagihara Seifunki Co., Ltd.), as well as a digital solutions business (DeSign Co., Ltd.). Consolidated net sales for FY2026 (ending March 2026) were ¥5,508 million.
Business Model
The company employs a one-stop model that provides customers' food and feed plants with everything from plant design and construction to the manufacture and sale of industrial machinery, as well as Maintenance Services, roll grinding, and consumable replacement. Revenue from large-scale plant construction projects is recognized on a percentage-of-completion basis, while machinery products are recorded at the time of manufacture and delivery. Maintenance and replacement demand forms a continuous revenue base. In the Solutions Business, the company also provides electronic authentication and digitalization support services to external companies, aiming to diversify its revenue sources.
Company Strengths
Since its founding in 1899, the company has continuously supplied machinery and plants to food-related manufacturers in flour milling, feed, and brewing, and maintains long-term business relationships with major agricultural companies such as JA Zen-noh Kumiai Feed (net sales of ¥1,040 million in FY2026 (ending March 2026), 18.9% of total net sales). Its over 125 years of specialized track record make short-term imitation by competitors difficult.
The company completes, within its own group, an integrated system covering everything from prime contracting of plant construction to industrial machinery manufacturing and sales, as well as Maintenance Services. By combining flour-milling roll manufacturing at its Chinese subsidiary with flour-milling machinery manufacturing at its domestic subsidiary, it possesses vertically integrated supply capabilities that can respond to customers' diverse equipment needs.
Centered on the Digisign Group, whose shares were acquired in January 2024, the company is developing a Solutions Business encompassing electronic authentication, data storage, and digitalization support. In FY2026 (ending March 2026), the Solutions Business recorded net sales of ¥459 million (up 250.48% year on year) and segment profit of ¥15 million, beginning to function as a new revenue pillar that partially offsets losses in the Industrial Machinery Business.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years fluctuated significantly in line with the completion timing of large-scale projects, moving as follows: ¥7,591 million → ¥6,306 million → ¥4,896 million → ¥6,511 million → ¥5,508 million. FY2026 (ending March 2026) fell into a trough following the completion of a large-scale project in the previous fiscal year, with revenue declining 15.4% year on year to ¥5,508 million. The operating loss of ¥159 million was mainly attributable to an increase in selling, general and administrative expenses (personnel expenses, goodwill amortization, commission fees paid, etc.). Against an ordinary loss of ¥176 million, the company recorded extraordinary gains of ¥96 million from the sale of investment securities and ¥130 million from gain on debt forgiveness, which enabled it to secure profit attributable to owners of parent of ¥25 million. As external factors, uncertainty over US trade policy, rising raw material prices, and higher interest rates affected customers' capital investment decisions. The equity ratio improved to 52.0% (from 44.3% in the previous fiscal year), and financial soundness has been maintained.
Growth Strategy
Rebuilding the profit base through deepening of the Food & Agriculture Plant Business, DX integration, and utilization of the technology development center
Capturing demand for new plant construction investment driven by the aging and consolidation of feed manufacturers, the Company aims to achieve net sales of ¥6,300 million and operating profit of ¥190 million for FY2027 (ending March 2027) by completing, on schedule, large-scale plant construction projects already ordered in the current fiscal year. The order pipeline will be expanded through the reinforcement of design personnel and continued strengthening of proposal-based sales activities.
The Technology Development Center (M-TECH), constructed at a total cost of ¥300 million on the site of the Ashikaga Plant in Ashikaga City, Tochigi Prefecture, was completed and began operations in April 2026. It provides testing of various powder and granular material processing machinery, food prototyping and joint product development, safety training and skills training, among other functions, thereby leading to order acquisition through dialogue with customers.
Centered on Digisign, the Company is expanding support for building DX infrastructure within the group as well as digitalization support projects for external companies. It is accelerating business development of FA systems and other offerings leveraging IoT and AI, aiming to improve productivity across the group and establish new revenue sources through the fusion of "manufacturing" and "digital." Net sales of the Solutions Business in FY2026 (ending March 2026) expanded to ¥460 million, 3.5 times the level of the previous fiscal year.
In light of changes in the international situation and the Chinese market, the Company entered into an agreement on April 27, 2026 to transfer its 100% equity interest in Meiji Machinery (Dezhou) Co., Ltd. to Shenyang Fanli Industrial Co., Ltd. The transfer is scheduled to be executed during FY2027 (ending March 2027). Management resources will be concentrated on the domestic Food & Agriculture Plant and Machinery Business and the Solutions Business.
Utilizing the "Meiji Frozen Foods Laboratory" in Shinagawa, the Company aims to establish a "Cold Chain Business" that proposes an integrated process from freezing through thawing. Demand for freezing and thawing tests remains robust, and the Company will pursue expansion into new fields and industries through total equipment proposals encompassing upstream and downstream equipment lines, in conjunction with Industrial Machinery Business sales.
Last updated: July 19, 2026