KOMATSU WALL INDUSTRY CO., LTD.
7949・Prime Market・Other Products
Business
Komatsu Wall Industry Co., Ltd., founded in 1968, is a specialist manufacturer of partition products, offering an integrated in-house system covering manufacturing, sales, and installation of Movable Partitions, Fixed Partitions, Toilet Booths, Movable Partitions, and Low Partitions, among other products. Its main customers include office building tenants, cultural facilities, and commercial facilities, with nationwide operations centered on the Tokyo metropolitan area. The company operates showrooms in Tokyo, Osaka, Nagoya, and other cities, and is strengthening direct outreach to designers and construction industry professionals. It is listed on the Prime Market of the Tokyo Stock Exchange. Net sales for FY2026 (ending March 2026) were ¥46,725 million.
Business Model
A vertically integrated business model in which the company's own group completes the entire process from order acquisition through design, manufacturing, sales, installation, and after-sales service. Products are manufactured at the company's own factory in Ishikawa Prefecture, and proposal-based sales are conducted toward construction industry professionals and building owners through sales offices and showrooms nationwide. The expanded sale of high-value-added products has achieved a gross profit margin of 36.1% (FY2026, ending March 2026). The structure enhances the visibility of business performance by building up the order backlog.
Company Strengths
Since its founding in 1968, the company has built an integrated system covering order receipt, design, manufacturing, sales, installation, and service in-house. It has obtained ISO9001 and ISO14001 certifications and established a quality control system. The company possesses manufacturing know-how and an installation network that competitors find difficult to replicate in the short term, achieving a gross profit margin of 36.1% (up 0.8 percentage points year on year) in FY2026 (ending March 2026).
The order backlog at the end of FY2026 (ending March 2026) reached ¥20,486 million (up 8.4% year on year), and order intake was also strong at ¥48,315 million (up 3.2% year on year). The order backlog for Movable Partitions grew particularly strongly, up 25.0% year on year. The accumulation of the order backlog creates a structure in which revenue recognition for the following period can be forecast to a considerable extent, resulting in high earnings visibility.
The company holds a broad product lineup including Movable Partitions, Fixed Partitions, Movable Partitions (transom type), Low Partitions, and Toilet Booths. In FY2026 (ending March 2026), it launched six new products and invested ¥326 million in research and development. Through the development of SKYDOOR (Movable Partition for High-Rise Buildings and Exterior Use), the company has also achieved entry into the super high-rise building market. It is also working to enhance design quality through industry-academia collaboration with Kanazawa College of Art.
ENVALITH's Perspective
Performance Trend
Revenue increased for five consecutive fiscal years, rising from ¥34,541 million in FY2022 (ended March 2022) to ¥46,725 million in FY2026 (ending March 2026). Profitability, which had shown signs of plateauing in FY2025 (ended March 2025), recovered and accelerated clearly in FY2026 (ending March 2026), with operating profit of ¥4,099 million (up 12.8% year on year) and net income attributable to owners of parent of ¥3,048 million (up 15.0% year on year). As an external factor, robust demand for urban redevelopment and office investment, centered on the greater Tokyo metropolitan area, drove performance. As an internal factor, improvement in gross profit margin (36.1%, up 0.8 points year on year) resulting from a mix shift toward higher value-added products accelerated profit growth. Selling, general and administrative expenses increased to ¥12,773 million (up 5.4% year on year), but this was absorbed by the effect of higher revenue. ROE showed an improving trend, reaching 7.9% (versus 7.0% in the previous fiscal year).
Growth Strategy
Under "NEXT VISION 2028," the strategy rests on three pillars: deepening the existing business, creating new products, and advancing production capabilities.
The company has strengthened direct outreach to designers and construction-related professionals through initiatives such as architectural seminars held at the Tokyo Showroom. The showroom received the 38th Nikkei New Office Award "Creative Office Award," contributing to enhanced brand strength. Results have become evident in the form of expanded order intake and order backlog.
The company developed SKYDOOR (Movable Partition for High-Rise Buildings and Exterior Use). It offers the highest JIS-grade performance in wind pressure resistance, airtightness, and water tightness, aiming to enter the super-high-rise building market. It realizes large openings on high floors—previously difficult to achieve—through horizontally sliding movable walls, providing new experiential value.
The company is proceeding with the construction of the Kaga Plant Building No. 2 (tentative name), aimed at enhancing production capacity and shipping capability for Movable Partitions. As of the end of FY2026 (ending March 2026), construction in progress of ¥5,614 million had been recorded, and construction is proceeding smoothly. Once operational, it is expected to accelerate the reduction of the order backlog and improve production efficiency.
Last updated: July 19, 2026