ALMEDIO INC.
7859・Standard Market・Other Products
Insulation Materials Business
Development, manufacturing and sales business for electronic component auxiliary materials and refractory materials, centered on two Chinese consolidated subsidiaries
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year, FY2025 ended March 2025) | ¥5,173 million | ¥10,576 million | ↓ |
| Segment profit (full year, FY2025 ended March 2025) | ¥1,042 million | ¥3,531 million | ↓ |
| Segment assets (end of FY2025, March 2025) | ¥6,784 million | ¥6,385 million | ↑ |
| Net sales (cumulative Q3, FY2026 ending March 2026) | ¥1,543 million | ¥4,085 million | ↓ |
| Orders received (full year, FY2025 ended March 2025) | ¥3,185 million | ¥12,742 million (estimated) | ↓ |
Business Details
The consolidated subsidiaries Alsi (Suzhou) Inorganic Materials Co., Ltd. and Almei (Suzhou) Technology Co., Ltd. develop, manufacture and sell auxiliary materials for electronic components, refractory materials and related products. The Company (Almedio itself) also conducts import sales centered on products from these subsidiaries. The majority of sales are to East Asia (mainly China); East Asia sales for FY2025 (ended March 2025) were ¥4,777 million, accounting for approximately 92% of the total. Major customers are Suzhou Yiersai High Temperature Inorganic Refractory Materials Co., Ltd. (sales of ¥2,331 million, 40.2% of segment sales) and Shanghai Kenwoqi Technology Co., Ltd. (¥1,199 million, 20.7%).
Recent Overview
Net sales and profit declined significantly due to the reversal of special demand from solar power generation and intensifying price competition in the Chinese market
For FY2025 (full year, ended March 2025), Insulation Materials Business net sales were ¥5,173 million (down 51.1% year on year) and segment profit was ¥1,042 million (down 70.5% year on year). The special demand for diffusion furnace heater modules for solar power panel manufacturing, which had expanded rapidly in the prior period, fell away, and orders decreased substantially against a backdrop of insufficient market demand and excess manufacturer inventory. Orders received were ¥3,185 million (down 75.1% year on year), and the order backlog was ¥772 million (down 72.0%). For the cumulative nine months of FY2026 (ending March 2026), net sales were ¥1,543 million (down 62.2% year on year) and the segment posted a segment loss of ¥262 million, turning to a deficit. Temporary costs were incurred as the company proceeded with a fixed-cost reduction measure to consolidate some functions of Alsi (Suzhou) Inorganic Materials Co., Ltd. into Almei (Suzhou) Technology Co., Ltd., widening the loss.
Key Products
Growth Drivers
- Expansion of sales channels for semiconductor-use heater modules (reducing dependence on solar power generation)
- Expansion of production and sales of new high value-added products such as high-purity SiO and alumina particles
- Reduction of fixed costs and improved profitability through function consolidation at Almei (Suzhou) Technology Co., Ltd.
- Continued expansion of furnace material sales for new industrial furnace construction and repair projects in the domestic market
- Promotion of R&D on advanced products leveraging Alsi (Suzhou) Inorganic Materials Co., Ltd.'s high-tech enterprise certification
Risks
- Continued weakness in solar power generation-related demand in the Chinese market and further intensification of price competition
- Risk of sales concentration in two major customers (Suzhou Yiersai and Shanghai Kenwoqi), which together account for approximately 61% of segment sales
- Decline in profit margin due to rising raw material costs
- Deterioration of the business environment in China due to geopolitical risk and the impact of US trade policy
- Occurrence of temporary costs associated with the consolidation of functions from Alsi (Suzhou) Inorganic Materials Co., Ltd. to Almei (Suzhou) Technology Co., Ltd.
Last updated: July 1, 2026