YUASA TRADING CO.,LTD.
8074・Prime Market・Wholesale Trade
Business
Yuasa Trading (to be renamed YUASA Corporation from April 2026) is a general specialized trading company with a history dating back to its founding in 1666. It operates seven divisions—Industrial Equipment, Industrial Machinery, Housing Equipment, Pipes & Air Conditioning, Architecture & Exterior, Construction Machinery, Energy, and Others—serving manufacturing, construction, and housing industries both domestically and internationally as its main customers. The group structure includes 39 consolidated subsidiaries and 3 affiliated companies, boasting net sales of ¥545,027 million (FY2026, ending March 2026). The Housing Equipment, Pipes & Air Conditioning division is the largest segment, accounting for approximately 41% of consolidated net sales, followed by the Industrial Machinery division at approximately 19%. In addition to its domestic operations, the company has overseas bases in Southeast Asia, North America, China, and elsewhere, giving it a global business foundation.
Business Model
As indicated by the minimal difference between purchasing and sales results, the company basically adopts a trading company model centered on purchasing and sales. At the same time, it is promoting a shift toward "selling solutions," including proposals for labor-saving construction products, strengthening engineering functions such as air conditioning renovation, deploying robot and AI utilization solutions, and expanding the construction machinery rental and auction business. The company also aims to improve capital efficiency through the use of an intragroup CMS (Cash Management System).
Company Strengths
The company operates seven divisions—Industrial Equipment, Industrial Machinery, Housing Equipment, Pipes & Air Conditioning, Architecture & Exterior, Construction Machinery, Energy, and Others—diversifying exposure to business-cycle risk in any single industry. In FY2026 (ending March 2026), the Housing Equipment, Pipes & Air Conditioning division grew 6.6% year on year and the Architecture & Exterior division grew 11.3% year on year, offsetting softness in Industrial Machinery and Industrial Equipment.
Backed by long-standing business relationships and creditworthiness founded on a history dating back to its establishment in 1666, the company has branches and offices in major domestic cities. Overseas, it has consolidated subsidiaries in Southeast Asia (Thailand, Indonesia, India, Vietnam, Malaysia, and the Philippines), North America, China, and Taiwan, and has built a global sales network that also focuses on sales to locally capitalized companies.
The company has recently pursued active M&A, including making Lineup Co., Ltd. a consolidated subsidiary in February 2025, the HENKO group in April 2025, and Kyoei Genex Co., Ltd. and Fujicrest Co., Ltd. in October 2025. It has a track record of progressively expanding group functions, including strengthening sales, construction, and logistics capabilities for housing exteriors in the greater Tokyo metropolitan area.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive periods, from ¥462,725 million in FY2022 (ended March 2022) to ¥545,027 million in FY2026 (ending March 2026). However, the growth rate in the most recent two periods was low, at 0.3% and 3.1%, leaving a sense of a plateau. Operating income expanded steadily from ¥11,880 million in FY2022 (ended March 2022) to ¥16,740 million in FY2026 (ending March 2026), with the operating margin improving from 2.6% to 3.1%. Net income attributable to owners of the parent fell to ¥10,242 million in FY2025 (ended March 2025), but recovered in FY2026 (ending March 2026) to ¥12,020 million, up 17.4%. As external factors, sluggish housing starts and persistently high energy prices weighed on some segments, while demand from data centers, redevelopment, and disaster prevention drove the Housing Equipment, Pipes & Air Conditioning and Architecture & Exterior divisions.
Growth Strategy
Under the new medium-term management plan "Reborn 2031," the company aims to expand profitability through strengthening its three foundations—business, human capital, and management—alongside active investment in overseas expansion, green business, and digital initiatives.
A five-year plan targeting ordinary income of ¥20.0 billion or more, ROIC of 8% or more, and overseas sales of ¥40.0 billion or more in FY2031 (ending March 2031). The company plans to invest a cumulative total of approximately ¥40.0 billion, comprising ¥20.0 billion to strengthen the business foundation, ¥17.0 billion for the management foundation, and ¥3.0 billion for the human capital foundation. Shareholder return policy is set at progressive dividends, a consolidated shareholder return ratio of 35% or more, and DOE of 3.5% or more.
In October 2025, the company made Kyoei Genex Co., Ltd. and Fuji Crest Co., Ltd. subsidiaries, strengthening sales, construction, and delivery capabilities in the housing exterior market in the greater Tokyo metropolitan area. Sales in the Architecture & Exterior segment grew 11.3% year on year to ¥63,809 million, the highest growth rate among all segments. The company intends to continue executing strategic M&A in an agile manner.
In December 2025, the company opened "YUASA SAKURA HOUSE," a model house in the Lat Krabang district of Bangkok, Thailand, showcasing Japanese housing solutions in one location. Leveraging resilient economic conditions in India, Indonesia, and other markets, the company is strengthening sales to locally capitalized companies. Under its long-term vision, the company targets overseas sales of ¥100.0 billion or more in FY2036 (ending March 2036).
The company is advancing the deployment of robotics and AI-driven solutions, including automated guided robots, that contribute to labor and workforce savings at worksites. It is implementing "DX Promotion" company-wide, encompassing the development of data utilization infrastructure, cultivation of DX talent, business process reform, and innovation creation, in order to capture automation demand at manufacturing, construction, and logistics sites.
The company is promoting proposals for renewable energy products such as solar panels, battery storage systems, and solar carports across the entire company. Sales in the Housing Equipment, Pipes & Air Conditioning and Architecture & Exterior segments are expanding, supported by tailwinds such as mandatory solar panel installation requirements in some municipalities and corporate promotion of carbon neutrality. The company continues its efforts to reduce CO₂ emissions.
Last updated: July 19, 2026