WAVELOCK HOLDINGS CO., LTD.
7940・Standard Market・Chemicals
Material Solutions
Group core business developing synthetic resin products for construction, agriculture, daily living, and food packaging applications
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (external customers, full year, FY2026 ending March 2026) | ¥19,814 million | ¥19,472 million | ↑ |
| Segment profit (full year, FY2026 ending March 2026) | ¥1,001 million | ¥911 million | ↑ |
| Segment assets (end of FY2026 ending March 2026) | ¥22,420 million | ¥22,299 million | ↑ |
| Depreciation expense (full year, FY2026 ending March 2026) | ¥403 million | ¥394 million | ↑ |
| Segment profit margin (full year, FY2026 ending March 2026) | 5.0% | 4.7% | ↑ |
Business Details
Provides synthetic resin products such as plastic sheets, films, mesh, and netting across a wide range of fields including construction temporary materials (tarpaulins, mesh sheets), agricultural materials (shading nets, insect-proof nets), household materials (insect-proof netting, gardening supplies), and food packaging (containers for convenience stores, etc.). InnoveX Co., Ltd. serves as the core operating company, and the group's revenue base has been strengthened through the consolidation of Mine Co., Ltd. This is the flagship segment, accounting for approximately 79% of group revenue.
Recent Overview
Both revenue and profit increased year-on-year, driven by Building and Agri Solutions while Packaging Solutions weighed on results
In FY2026 (ending March 2026), the Material Solutions business achieved higher revenue and profit, with revenue of ¥19,814 million (up 1.7% year-on-year) and segment profit of ¥1,001 million (up 10.0% year-on-year). Strong performance in mesh sheets and partition sheets in the Building Solutions field, along with sustained high demand for shading nets due to intense heat in the Agri Solutions field, drove results. On the other hand, declining demand for convenience store food containers due to rising prices weighed on the Packaging Solutions field. In response to rising raw material prices and utility costs, the company promoted price pass-through and improved production efficiency and cost reduction, improving profit margins. Additionally, the revenue base was strengthened through the consolidation of Mine Co., Ltd.
Key Products
Growth Drivers
- Expansion of construction-related demand driven by strong sales of mesh sheets and partition sheets for temporary materials
- Sustained high demand in the Agri Solutions field (shading nets, etc.) due to intense heat effects and strong performance in the tea business
- Promotion of price pass-through for increased raw material and utility costs
- Cost reduction through improved production efficiency and continuous cost cutting
- Strengthened revenue base through the consolidation of Mine Co., Ltd.
- Development of the geothermal heat business (environmental business) as a new growth field
Risks
- Cost pressure from soaring and persistently high raw material (resin, naphtha) prices
- Intensifying price competition in the domestic market due to increased imports of low-cost overseas products
- Continued demand decline in the packaging field, such as convenience store food containers, due to rising prices
- Continued sluggishness in insect-proof netting for home centers and sash manufacturers
- Growth limitations in the mature markets for construction, agriculture, and housing materials due to Japan's declining population
- Risk of rising manufacturing costs due to continued yen depreciation and persistently high energy costs
- Impact on raw material procurement costs from geopolitical risks such as US trade policy and Middle East conditions
Last updated: June 17, 2026