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Shinagawa Refra (5351) · InitiativeFull-year revenue and profit also declineLatest Management Planning (2026-10-22): "Advanced"

Growth and management stabilization through exploration of new business areas outside refractories

First written in FY2021. 5 of 11 entries say "Advanced", first in FY2024. Latest entry: 2026-10-22.

11entries
6years
4from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2021 – FY2022AdvancedFY2024 – FY20252021: 120212022: 120222023: 020232024: 220242025: 220252026: 52026
Same theme, other companies
Development of fine ceramics and environmental solutions technologies into business areasA theme 2 companies write about · 0 as a headwind · 2 as a tailwind

0 other companies' latest entry also says "Advanced".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026Full-year revenue and profit also declineAnnual report

    「“Although we promoted sales of fine ceramics products, sales volumes of semiconductor manufacturing equipment-related products declined because of changes in the timing of investment related to logic semiconductors and foundries, as well as customer inventory adjustments. As a result, revenue for the consolidated fiscal year was ¥4,101 million, down 5.5%, and the segment loss was ¥115 million, compared with segment profit of ¥170 million in the previous year.”」

    Changes in the timing of semiconductor investment and customer inventory adjustments caused the Advanced Equipment segment to post lower full-year revenue and shift from profit to a loss of ¥115 million.
  2. FY2026-H1Revenue and profit decline as semiconductor-related demand takes longer to reach a full-scale recoveryAnnual report

    「“Although we promoted sales of fine ceramics products, demand for semiconductor manufacturing equipment-related products had not yet reached a full-scale recovery, and sales volumes declined because of customer inventory adjustments. As a result, revenue for the interim consolidated accounting period was ¥1,950 million, down 9.8%, and the segment loss was ¥94 million, compared with segment profit of ¥127 million in the year-earlier period.”」

    Although sales expansion progressed in the Advanced Equipment growth areas, delayed recovery in demand related to semiconductor manufacturing equipment and customer inventory adjustments led to lower revenue and a shift to a segment loss.
  3. FY2025AdvancedAnnual report

    「In the Advanced Equipment Sector, we have set a goal of expanding operations into the semiconductor manufacturing equipment field, where demand for fine ceramics products is expected to grow, and into new growth fields such as aerospace and energy. In fiscal 2024, we decided to build a new plant to increase production and address new fields, with operations scheduled to begin in fiscal 2025. In addition, to improve management efficiency by integrating the group's management resources and personnel, we absorbed and merged 品川ファインセラミックス株式会社, our wholly owned subsidiary that operated the fine ceramics business, in April 2025.」

    Expansion into new areas such as semiconductor manufacturing equipment, aerospace and energy was made concrete through the plan to commence operations at a new plant in fiscal 2025 and the absorption-type merger of a wholly owned subsidiary.
  4. FY2025-H1AdvancedAnnual report

    「“In the advanced materials business, domestic demand for components for semiconductor manufacturing equipment was recovering, and the results of the newly added コムイノベーション company contributed. Revenue rose 20.4% year on year to ¥2,161 million, while segment profit increased 0.1% to ¥127 million.”」

    The semiconductor-related business, positioned as a growth area outside refractories and insulation materials, benefited from the results of コムイノベーション, and revenue in the Advanced Equipment business rose 20.4% year on year.
  5. FY2024AdvancedAnnual report

    「In the third key priority, "new business areas," we made コムイノベーション有限会社, whose principal business is the assembly of semiconductor manufacturing equipment, a consolidated subsidiary in March 2024. Demand for semiconductor manufacturing equipment is also expected to expand as semiconductor demand increases in the future. Within our group, we have classified businesses related to semiconductor manufacturing equipment as the Advanced Equipment Sector, renamed from the Ceramics Sector in April 2024, and will focus on them as one of the pillars of future growth.」

    Acquired a company engaged in the assembly and testing of semiconductor manufacturing equipment and made it a consolidated subsidiary, positioning the semiconductor-related business as a pillar of future growth.
  6. FY2022RestatedAnnual report

    「“To pursue growth and management stability for the group as a whole, we will expand into new fields outside refractories and insulation materials.”」

    It reconfirms the policy of expanding into new areas outside refractories and insulation materials to achieve growth for the group as a whole and management stability.
  7. FY2021First statedAnnual report

    「Within the group companies, we will also focus on areas outside refractories to pursue future growth and management stability. In addition to expanding sales of functional adsorption and deodorisation products, we will develop businesses in markets such as medical care and nursing care, where growth is expected. We will also consider applying fine ceramics products to large components.」

    The Fifth Medium-Term Management Plan for the first time specified expansion into new areas outside refractories, including functional adsorption and deodorisation products, the medical and nursing-care markets, and large fine-ceramics components, as an independent key priority.
Moved together

"Modernization of Core Production Facilities and Strengthening of Stable Supply, Quality and Competitiveness" moved the same way as this thread, in the same document, in 4 of its 11 moves.

443332★123456
  1. ★This thread
  2. 1Modernization of Core Production Facilities and Strengthening of Stable Supply, Quality and Competitiveness4×
  3. 2Strengthening Technological and Sales Capabilities, Developing New Products, and Accelerating Overseas Business Expansion4×
  4. 3Shareholder Returns Focused on Stable Dividends and Future Increases3×
  5. 4Managing Management Targets Using ROS, ROA and ROE3×
  6. 5Reorganization and efficiency improvements reducing domestic production sites from 3 plants to 23×
  7. 6Declining demand in the steel industry, China's overcapacity, and exposure to the global economic slowdown2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Shinagawa Refra yet. It last moved in the Management Planning of 2026-10-22: "Advanced".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Growth and management stabilization through exploration of new business areas outside refractories | SHINAGAWA REFRA CO.,LTD. (5351) | Komori