KIKUSUI CHEMICAL INDUSTRIES CO.,LTD.
7953・Standard Market・Other Products
Product Sales & Construction
The sole comprehensive architectural finishing material manufacturer engaged in the manufacture and sale of architectural finishing materials and refurbishment construction
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative 3Q) | ¥16,691 million | ¥16,799 million | ↓ |
| Operating income (cumulative 3Q) | ¥512 million | ¥462 million | ↑ |
| Ordinary income (cumulative 3Q) | ¥575 million | ¥527 million | ↑ |
| Quarterly net income attributable to owners of parent (cumulative 3Q) | ¥352 million | ¥245 million | ↑ |
| Sales to Daiwa House Reform (prior fiscal year results) | ¥2,807 million | ¥2,651 million | ↑ |
Business Details
The only business segment of the Kikusui Chemical Industries Group. In addition to manufacturing and selling Architectural Finishing Materials, Architectural Substrate Adjustment Materials, Tile Adhesive, and Architectural & Civil Engineering Materials, the segment operates Building Refresh (Full-Responsibility Construction) (renovation and remodeling construction of buildings). With the renovation market as its primary battlefield, the segment provides six solutions: "environmental measures," "energy-saving measures," "aesthetic restoration," "anti-spalling measures," "functional restoration," and "water leakage countermeasures." The main customer is Daiwa House Reform Co., Ltd. (13.1% of sales). Over 90% of sales are domestic.
Recent Overview
Sales declined slightly, but a reduction in SG&A expenses drove a large improvement in profit; full-year guidance left unchanged
Net sales for the cumulative third quarter of FY2026 (ending March 2026) (April to December 2025) were ¥16,691 million (down 0.6% year on year), a marginal decline. Meanwhile, selling, general and administrative expenses were compressed by approximately ¥100 million, from ¥3,562 million to ¥3,462 million, resulting in a substantial improvement in operating income to ¥512 million (up 10.6% year on year) and quarterly net income attributable to owners of parent to ¥352 million (up 43.3% year on year). This was aided by the absence, this period, of core system migration costs incurred in the prior period. The full-year earnings forecast (net sales of ¥22,500 million, operating income of ¥650 million) remains unchanged from the figures announced in May 2025. Total assets stood at ¥17,605 million (up ¥1,399 million from the end of the prior fiscal year), with an equity ratio of 57.3%.
Key Products
Growth Drivers
- Increased demand in the renovation market driven by the expansion of the stock of existing properties (environmental measures, energy-saving measures, anti-spalling measures, etc.)
- Expansion into the maintenance market through inorganic and cement-based products in response to aging social infrastructure
- Expanded transactions with major reform companies, led by Daiwa House Reform
- Replacement of product lineup with value-added offerings such as heat-shielding, thermal-insulating, water-based fluorine, and inorganic-based products
- Improved cost management accuracy and optimization of SG&A expenses following completion of the core system migration
Risks
- Continued weakness in demand for repainting detached houses amid declining consumer sentiment due to rising prices
- Risk of cost increases due to fluctuations in raw material and energy prices
- Constraints on construction capacity and rising labor costs due to worsening labor shortages
- Rising costs of imported raw materials due to yen depreciation, and its spillover effect on overall price increases
- Impact on both demand and supply from unstable international conditions
Last updated: June 26, 2026