HAMAI INDUSTRIES LTD.
6497・Standard Market・Machinery
Valve Business
Hamai's core business manufacturing and selling valves for LPG, high-pressure gas, and piping applications
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment net sales (Q1 cumulative) | ¥3,475 million | ¥3,264 million | ↑ |
| Segment operating profit (Q1 cumulative) | ¥223 million | ¥255 million | ↓ |
| Segment operating margin (Q1 cumulative) | 6.4% | 7.8% | ↓ |
| Segment net sales (full-year actual) | ¥12,138 million | — | — |
| Segment operating profit (full-year actual) | ¥839 million | — | — |
Business Details
Manufactures and sells Valves for LPG Cylinders, High-Pressure Gas Valves & Gas-Related Equipment, and Piping Valves. Primarily focused on the domestic market, with overseas expansion through its Korean subsidiary (Hamai Korea). The business involves the manufacture and sale of precision machinery equipment, various valves, and high-pressure gas-related equipment, supplying broadly to the energy and industrial infrastructure sectors. This is the core segment, accounting for approximately 96% of consolidated net sales. Also includes sales of Brass Cutting Chips.
Recent Overview
Despite increased net sales, rising cost ratio weighed on results, with Q1 operating profit down 12.5% year on year
Net sales of the Valve Business for Q1 (January to March) of FY2026 (ending December 2026) were ¥3,475 million (up 6.5% year on year). This was driven by increased reinspection demand for Valves for LPG Cylinders and rising prices for Brass Cutting Chips. On the other hand, the cost ratio rose due to soaring prices for materials and other items, resulting in a decrease in operating profit to ¥223 million (down 12.5% year on year). Piping Valves continued to see a delayed recovery in demand for semiconductor manufacturing equipment. There has been no change to the full-year earnings forecast.
Key Products
Growth Drivers
- Penetration of price increases for Valves for LPG Cylinders and securing stable reinspection demand
- Profit contribution from rising selling prices of Brass Cutting Chips
- Recovery in semiconductor industry demand through the Korean subsidiary (Hamai Korea)
- Industrial demand for fire extinguishing equipment and other applications in High-Pressure Gas Valves & Gas-Related Equipment
- New investment in the hydrogen business and clean energy sector (medium-term strategy)
Risks
- Continued delay in the recovery of demand for Piping Valves for semiconductor manufacturing equipment
- Rising cost ratio due to soaring costs including raw material and fuel costs
- Increased raw material procurement costs due to the weak yen trend
- Long-term risk of shrinking LPG demand due to the energy transition (carbon neutrality)
- Risk to financial condition and management from a damages lawsuit against directors (ongoing in the Tokyo District Court) related to an Antimonopoly Act violation (cease and desist order and surcharge payment order issued in June 2024)
- Risk of raw material and fuel prices remaining elevated due to international conditions (the Ukraine and Iran conflicts, US trade policy)
Last updated: March 27, 2026