ENVALITH
クリナップ株式会社 logo

Cleanup Corporation

7955・Prime Market・Other Products

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クリナップ株式会社 logo
Cleanup Corporation7955

Business

Cleanup Corporation, founded in 1949, is a specialized manufacturer of housing equipment, with system kitchens (Kitchen Division) and system bathrooms/vanities (Bath/Washstand Division) as its core businesses. Of net sales of ¥134,487 million, the Kitchen Division accounts for ¥108,989 million (81.0% of the composition), the Bath/Washstand Division for ¥14,813 million, and other businesses (subsidiary operations such as logistics, IT, and staffing) for ¥10,683 million. The company handles everything from manufacturing to sales, installation, and after-sales service in an integrated manner, capturing demand from both new construction and renovation through its nationwide showrooms and online channels. Listed on the Tokyo Stock Exchange Prime Market.

Business Model

The company manufactures products at its own factories (its eastern and western bases in Fukushima and Okayama) and sells them through nationwide showrooms and "Mizumawari Koubou" affiliated stores. By focusing on value-added products such as the premium-priced "CENTRO" and upper-mid-priced "STEDIA" lines, it aims to improve its product mix and raise its gross profit margin. After sales, Cleanup Techno Service handles after-sales support, and by providing products and services as a package, the company builds long-term relationships with customers.

Company Strengths

Since converting to stainless steel sink manufacturing in 1960, the company has accumulated over 60 years of stainless steel processing technology. The group maintains a vertically integrated structure encompassing material supply (Inoue Kosan), processing (Cleanup Stainless Processing Center), and manufacturing, and continuously implements cost reductions through VE (value engineering) activities. In FY2026 (ending March 2026), the cost of sales ratio improved by 1.3 points year on year to 67.1%.

The premium price range "CENTRO" saw increases in both volume and value year on year in FY2026 (ending March 2026), and the mid-to-premium price range "STEDIA," which was renewed in September 2025, also increased in both volume and value. The mass-market price range "rakuera" saw a decline in volume but an increase in value. Overall, the shift toward higher price ranges progressed, and the operating margin improved by 1.3 points year on year to 2.9%.

As of the end of FY2026 (ending March 2026), the equity ratio remained at a high level of 64.7% (63.1% in the previous period). The company held total net assets of ¥60,444 million and cash and cash equivalents of ¥19,375 million, maintaining a financial policy of funding working capital and capital expenditure through retained earnings or borrowings. Total liabilities decreased by ¥391 million year on year to ¥32,996 million, indicating improved financial soundness.

ENVALITH's Perspective

Operating profit for FY2026 (ending March 2026) recovered sharply to ¥3,948 million (up 90.7% year on year), and net income increased to ¥3,475 million (up 102.2% year on year), nearly returning to the level seen in FY2022 (ending March 2022) (operating profit of ¥3,795 million). The combination of the emerging effects of price revisions and cost reductions was successful, but the operating margin remains low at 2.9%. Amid a continued external environment of elevated raw material and energy prices as well as rising labor costs, the sustainability of price revision effects and the ability to absorb additional costs will be key to further margin improvement going forward.

The equity ratio remained at a sound level of 64.7% (63.1% in the previous period), and cash and cash equivalents stood at ¥19,375 million. Meanwhile, during the period the company raised ¥6,000 million through long-term borrowings, increasing long-term borrowings under fixed liabilities from ¥1,840 million to ¥4,563 million. This lengthening of the borrowing structure, combined with the repayment of ¥1,500 million in short-term borrowings, is neutral from a financial stability perspective, but the trend in interest-bearing debt balances continues to warrant close monitoring.

As an external environment factor, new housing starts have remained sluggish, making a recovery in demand for new construction difficult to expect. The forecast for FY2027 (ending March 2027) calls for increased revenue and profit, with net sales of ¥142,000 million (up 5.6% year on year) and operating profit of ¥4,900 million (up 24.1% year on year); however, raw material price increases and procurement risks stemming from geopolitical risk are not factored into these earnings forecasts, leaving downside risk in place. Progress in capturing renovation demand and shifting the product mix toward higher value-added offerings will be the key evaluation criteria over the medium term.

Growth Strategy

Aiming for sustainable growth and enhancement of medium- to long-term corporate value through "Fan Creation Promotion" and "Strengthening of Specialization Capabilities"

The Company continues to launch value-added products to the market, centered on the premium price range "CENTRO" and the mid-to-high price range "STEDIA," which was renewed in September 2025. In system bathrooms, the Company will focus on establishing and expanding sales of "SELEVIA" and "rakuvia," aiming to improve gross profit margin through product mix improvement.

The Company implemented the renovated opening of the Chiba Showroom in September 2025 and plans to open the renovated Kashiwa Showroom in March 2026, strengthening value provision at customer touchpoints. The Company will continue to provide web content such as "Online Consultation" and "Online Showroom," promoting "Fan Creation" by combining digital and physical channels.

The Company continues to promote productivity improvement and VE (Value Engineering) activities at its eastern and western production sites, achieving cost reductions that absorb continued high raw material prices and rising labor costs. In FY2026 (ending March 2026), the Company achieved an operating profit margin of 2.9% through synergies with the effects of price revisions, and will continue these efforts as part of "Strengthening of Specialization Capabilities."

Last updated: July 19, 2026