YASUNAGA CORPORATION
7271・Standard Market・Transportation Equipment
Business
Yasunaga Corporation is a manufacturing group founded in 1949 and headquartered in Iga City, Mie Prefecture. Its core business is Automotive Engine Parts such as connecting rods and camshafts (approximately 76% of net sales), complemented by two other pillars: the Machinery Equipment business, which handles NC Machine Tools / Transfer Machines, Wire Saw, and inspection equipment, and the Environmental Equipment business, which offers Air Pumps and Disposer Systems for septic tanks. In addition to its domestic manufacturing base, the company has overseas subsidiaries in Indonesia, Thailand, Mexico, the United States, and China, having built a global manufacturing and sales structure with the Toyota Motor Group as its main customer. The company is listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
In the Engine Parts business, the company adopts a build-to-order manufacturing model based on continuous orders from automakers, producing and delivering parts at its own manufacturing sites in Japan and overseas. In the Machinery Equipment business, machine tool technology cultivated through in-house Engine Parts manufacturing is sold externally, while stock revenue is also secured through Modification & Maintenance Services. The Environmental Equipment business sells products for civilian demand in Japan and overseas through Yasunaga Air Pump Co., Ltd. and Yasunaga Cleantech Co., Ltd. With ¥549 million invested in R&D, the company is also cultivating new revenue sources such as the Micro-shaped Processed Foil technology "Bisho" and Wick Sheets for Smartphone Vapor Chambers.
Company Strengths
The company operates manufacturing and sales subsidiaries in Indonesia, Thailand, Mexico, and the United States, maintaining a multi-site framework capable of meeting local procurement demand from Japanese and U.S. automakers. In FY2026 (ending March 2026), Automotive Engine Parts sales reached ¥25,721 million (up 12.4% year on year), and operating profit reached ¥1,877 million (up 269.0% year on year), achieving substantial improvement.
The company has named its fine mold-forming technology, accumulated through automotive parts manufacturing, "Bisho," and is deploying it toward the secondary battery and thermal management markets. In August 2025, mass production of Wick Sheets for Smartphone Vapor Chambers began, materializing as a new revenue source outside of Engine Parts. A cross-segment technology headquarters has been established to oversee core technology development.
The Environmental Equipment business, handled by Yasunaga Air Pump Co., Ltd. and Yasunaga Clean Tech Co., Ltd., achieved sales of ¥5,173 million (up 12.6% year on year) and operating profit of ¥499 million (up 134.8% year on year) in FY2026 (ending March 2026). With a diversified customer base spanning air pumps for septic tanks, medical/health equipment, and fuel cells, as well as disposer systems for newly built condominiums, this business functions as a portfolio buffer mitigating the impact of fluctuations in the automotive industry.
ENVALITH's Perspective
Performance Trend
Revenue surged from ¥29,026 million in FY2022 (ending March 2022) to ¥33,284 million in FY2023 (ending March 2023), then declined slightly for two consecutive periods to ¥31,946 million in FY2024 (ending March 2024) and ¥31,470 million in FY2025 (ending March 2025), before recovering to ¥33,951 million in FY2026 (ending March 2026), up 7.9% year on year. On the profit side, results improved steadily from an operating loss of ¥533 million in FY2022 (ending March 2022), reaching operating profit of ¥2,215 million in FY2026 (ending March 2026), up 192.3% year on year and the highest level in the past five fiscal years. External factors contributing to this included continued automotive demand in the North American market and a boost to overseas subsidiaries' sales from yen depreciation. Full-scale operation of new domestic production lines, improved profitability, and an additional deferred tax asset recognition (-¥445 million) also pushed net income up to ¥1,871 million, an increase of 152.2% year on year. ROE reached 14.4%, and the equity ratio improved to 34.8%, reflecting a stronger financial position.
Growth Strategy
Expansion of globally niche No.1 products and creation of new businesses through micro-shaping technology
Full-scale operation of the new domestic line in the Engine Parts business drove FY2026 (ending March 2026) segment sales to ¥25,721 million (up 12.4% year on year) and operating profit of ¥1,877 million (up 269.0% year on year). Construction in progress also increased sharply to ¥4,705 million (from ¥2,036 million in the prior fiscal year), and investment to expand production capacity is continuing into subsequent periods.
As a new non-automotive product leveraging precision processing technology, full-scale mass production of Wick Sheets for Smartphone Vapor Chambers began in FY2026 (ending March 2026). This is a strategic new business that concretely diversifies revenue away from automotive dependence, contributing to the Engine Parts business's higher sales and profit. Future expansion in sales scale is a key point to watch.
Increased sales at overseas manufacturing subsidiaries in Indonesia, Thailand, Mexico, and elsewhere drove FY2026 (ending March 2026) results. In the FY2027 (ending March 2027) forecast as well, new line operations at overseas subsidiaries are explicitly cited as the main driver of sales growth (¥37,000 million, up 9.0% year on year), with deepening of the global production structure supporting continued growth.
In addition to increased sales of machine tool units, strengthening of Modification & Maintenance Services led the Machinery Equipment business to return to profitability in FY2026 (ending March 2026), posting operating profit of ¥102 million. In FY2027 (ending March 2027), demand for machine tools is expected to increase due to higher production by automakers, and the company aims for sustained improvement in profitability through a combination with service revenue.
Last updated: July 19, 2026