Housing Equipment & Building Materials industry map

Who earns the money in Housing Equipment & Building Materials, and who keeps it. When a company spans several industries, only the relevant segment is counted.

FY2025 · 131 companies · ¥11.1T

Industry map

Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.

Industry size (revenue): ¥11.1T
Companies: 131
Avg. salary（parent only）: ¥6.3M
Industry weather: Sunny

Lixil[5938]

Water Technology business + 2 more

Revenue: ¥1.51T▲0.4%
Operating income: ¥80B▲14.1%

Whole company: Revenue ¥1.51T · Net income ¥8.14B

Avg. salary ¥7.3M · 46.2（parent only）

Toto[5332]

Global Housing Equipment Business + 5 more

Revenue: ¥1.34T▼0.6%
Operating income: ¥55.8B▼9.7%

Whole company: Revenue ¥737.4B · Net income ¥40.3B

Avg. salary ¥7.8M · 45.2（parent only）

Panasonic Holdings[6752]

Electric Works

Revenue: ¥1.08T▲4.8%
Operating income: ¥57.7B▼15.8%

Whole company: Revenue ¥8.05T · Net income ¥189.5B

Avg. salary ¥9.9M · 44.1（parent only）

TOPPAN Holdings[7911]

Living and Industry

#4▲

Revenue: ¥715.2B▲32.0%
Operating income: ¥33.1B▼1.1%

Whole company: Revenue ¥1.81T · Net income ¥64.8B

Avg. salary ¥8.7M · 42.8（parent only）

Sanwa Holdings[5929]

Japan + 3 more

#5▼

Revenue: ¥660.6B▼0.3%
Operating income: ¥79.1B▼2.5%

Whole company: Revenue ¥660.7B · Net income ¥59.8B

Avg. salary ¥10.6M · 45.0（parent only）

Dai Nippon Printing[7912]

Life and Healthcare

Revenue: ¥512.1B▲3.3%
Operating income: ¥37.3B▲56.6%

Whole company: Revenue ¥1.51T · Net income ¥104B

Avg. salary ¥8.6M · 44.8（parent only）

Rinnai[5947]

Japan + 6 more

Revenue: ¥470.4B▲2.2%
Operating income: ¥50.6B▲11.4%

Whole company: Revenue ¥470.4B · Net income ¥36.2B

Avg. salary ¥7.4M · 40.8（parent only）

Yamada Holdings[9831]

Housing Business

Revenue: ¥330.8B▲13.1%
Operating income: ¥10.3B▲9.4%

Whole company: Revenue ¥1.69T · Net income ¥14.8B

Avg. salary ¥5.6M · 46.9（parent only）

Takara Standard[7981]

Household equipment

Revenue: ¥252.5B▲3.8%
Operating income: ¥18.9B▲22.1%

Whole company: Revenue ¥252.8B · Net income ¥15.1B

Avg. salary ¥6.3M · 41.0（parent only）

Sumitomo Forestry[1911]

Timber and Building Materials Business

#10

Revenue: ¥232B▲0.2%
Operating income: ¥12.8B▲27.5%

Whole company: Revenue ¥2.27T · Net income ¥106.7B

Avg. salary ¥9.8M · 44.1（parent only）

Sekisui Chemical[4204]

Urban infrastructure and environmental products

#11

Revenue: ¥225.1B▼1.0%
Operating income: ¥23.2B▲1.3%

Whole company: Revenue ¥1.31T · Net income ¥75.2B

Avg. salary ¥9.5M · 44.2（parent only）

Bunka Shutter[5930]

Shutters + 2 more

#12

Revenue: ¥220.3B▲2.9%
Operating income: ¥19.4B▲4.7%

Whole company: Revenue ¥236.3B · Net income ¥12.6B

Avg. salary ¥7.5M · 42.7（parent only）

Yodoko owns 2.4%

※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.

Other companies: Sangetsu · Noritz · Yodoko · Sankyo Tateyama · Cleanup · Nichiha · Aica Kogyo · Toli · Corona · Aiphone · Nippon Paper Industries · Okamoto Industries · MAX · Eidai · Fujisash · Okabe · Wood ONE · Noda · Kamei · Komatsu Wall Industry · Chofu Seisakusho · Mirai Industry · Taiheiyo Cement · Zacros · Suminoe · Fukuvi Chemical Industry · Sekisui Jushi · Tachikawa · Kurimoto · Nippon Aqua · TKP · Maezawa Kyuso Industries · KVK · Inaba Seisakusho · Sanei · Sanyo Industries · Nichias · Toagosei · Nankai Plywood · Riken Technos …+79

The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).

Industry takeaways

AI summary (figures come from filings)

The largest business is Panasonic Holdings' Electric Works segment at ¥1.08T, followed by LIXIL's Water Technology business at ¥808.8B and TOPPAN Holdings' Living and Industry segment at ¥715.2B.
Profitability varies widely: Aica Kogyo's Construction and Housing Materials segment has a 21.5% operating margin and Sanwa Holdings' North America segment 15.6%, while Sankyo Tateyama's building materials arm is at 0.6% and Noritz's domestic business at 1.6%.
The large housing equipment makers were flat, with TOTO's Japan housing equipment business at -0.3% and LIXIL's Housing Technology business at -0.5%.
Growth came from TOPPAN Holdings' Living and Industry segment (+32.0%) and Yamada Holdings' Housing Business (+13.1%).

Switch years to see how the map shifts

Who earns the money

Area = revenue from businesses in this industry. Color = operating margin.

LossHigh margin(middle = 0% margin)

Who makes a profit

Across = revenue (log scale), up = operating margin, bubble size = operating income.

Ranking and momentum

Rank	Company (business)	Revenue	Share	Op. margin	CAGR	FCF*
1	LixilWater Technology business + 2 more	¥1.51T	13.7%	5.3%	+1.4%	¥39.9B
2	TotoGlobal Housing Equipment Business + 5 more	¥1.34T	12.1%	4.2%	—	¥28.1B
3	Panasonic HoldingsElectric Works	¥1.08T	9.8%	5.3%	—	-¥71.7B
4▲1	TOPPAN HoldingsLiving and Industry	¥715.2B	6.5%	4.6%	+13.2%	-¥61.8B
5▼1	Sanwa HoldingsJapan + 3 more	¥660.6B	6.0%	12.0%	+8.9%	¥47.2B
6	Dai Nippon PrintingLife and Healthcare	¥512.1B	4.6%	7.3%	—	-¥32.6B
7	RinnaiJapan + 6 more	¥470.4B	4.3%	10.8%	+6.5%	¥34B
8	Yamada HoldingsHousing Business	¥330.8B	3.0%	3.1%	+5.9%	¥5.04B
9	Takara StandardHousehold equipment	¥252.5B	2.3%	7.5%	+4.5%	¥8.93B
10	Sumitomo ForestryTimber and Building Materials Business	¥232B	2.1%	5.5%	+4.3%	¥17.9B
11	Sekisui ChemicalUrban infrastructure and environmental products	¥225.1B	2.0%	10.3%	+2.6%	-¥35.3B
12	Bunka ShutterShutters + 2 more	¥220.3B	2.0%	8.8%	+6.7%	¥6.55B
13▲1	SangetsuDomestic Interior + 2 more	¥206.4B	1.9%	9.4%	+9.6%	¥10.2B
14▼1	NoritzDomestic business + 1 more	¥202B	1.8%	2.1%	+3.2%	¥3.75B
15	YodokoSteel Sheet Segment	¥184.7B	1.7%	6.5%	-1.0%	¥13.9B
16	Sankyo TateyamaBuilding materials	¥178.7B	1.6%	0.1%	-0.3%	-¥10.1B
17▲1	Cleanup	¥134.5B	1.2%	2.9%	+4.4%	¥659M
18▼1	NichihaExterior building materials business	¥134.1B	1.2%	8.9%	+3.0%	¥4.23B
19	Aica KogyoConstruction and Housing Materials	¥115.5B	1.0%	21.5%	+5.8%	¥336M
20	ToliInterior business + 2 more	¥112.3B	1.0%	4.5%	—	¥3.89B
21	Corona	¥85.3B	0.8%	1.0%	+2.1%	-¥3.38B
22	AiphoneJapan + 5 more	¥80.8B	0.7%	3.2%	+5.4%	-¥1.25B
23	Nippon Paper IndustriesWood products and construction related	¥76.5B	0.7%	13.1%	+4.4%	¥20.7B
24▲1	Okamoto IndustriesIndustrial products	¥75.8B	0.7%	0.7%	+7.3%	-¥1.72B
25▲4	MAXIndustrial equipment	¥75.2B	0.7%	25.2%	+9.3%	¥11.4B
26	EidaiHousing Material + 1 more	¥73.7B	0.7%	3.7%	+5.6%	-¥1.57B
27▼3	FujisashConstruction Material	¥71.6B	0.6%	5.2%	+2.4%	-¥3.4B
28▼1	Okabe	¥69.8B	0.6%	6.8%	+1.8%	-¥434M
29▲1	Wood ONEHouse building materials and housing equipment	¥64.9B	0.6%	1.6%	-0.2%	-¥2.96B
30▼2	NodaWooden building materials + 1 more	¥64.7B	0.6%	2.6%	+28.0%	-¥3.4B
31	KameiConstruction	¥48.4B	0.4%	2.6%	+2.8%	¥17.6B
32▲1	Komatsu Wall Industry	¥46.7B	0.4%	8.8%	+7.8%	-¥2.72B
33▼1	Chofu Seisakusho	¥46.5B	0.4%	3.7%	+0.9%	¥3.42B
34▲1	Mirai Industryelectric facility materials and water supply devices + 1 more	¥42.8B	0.4%	16.1%	+5.9%	¥3.55B
35▼1	Taiheiyo CementConstruction materials and construction engineering	¥41.7B	0.4%	4.5%	-10.0%	¥13.2B
36▲2	ZacrosIndustrial infrastructure	¥41.3B	0.4%	12.2%	—	-¥9.99B
37	SuminoeInterior fittings	¥38.3B	0.3%	2.7%	+5.4%	-¥226M
38▼2	Fukuvi Chemical IndustryBuilding Materials + 2 more	¥38.2B	0.3%	11.0%	—	¥152M
39	Sekisui JushiPrivate Sector Business	¥36.6B	0.3%	10.6%	+2.3%	¥2.69B
40	TachikawaBusiness related to interior and exterior design	¥35.9B	0.3%	10.4%	+1.2%	¥3.51B
41	KurimotoIndustrial materials business	¥34.7B	0.3%	6.9%	+7.1%	¥843M
42▲1	Nippon Aqua	¥33.7B	0.3%	8.2%	+8.9%	¥1.01B
43▲22	TKPLilycolor business	¥33B	0.3%	2.6%	—	¥4.22B
44▼2	Maezawa Kyuso Industrieswater supply equipment buisiness + 2 more	¥31.7B	0.3%	23.6%	—	¥1.03B
45▼1	KVKjapan + 2 more	¥31.3B	0.3%	10.6%	+2.5%	-¥1.05B
46	Inaba SeisakushoOutdoor storage sheds	¥29.2B	0.3%	8.5%	+2.6%	¥334.5M
47▲1	Sanei	¥29B	0.3%	6.3%	+6.0%	-¥1.07B
48▼3	Sanyo IndustriesSANYO INDUSTRY + 2 more	¥29B	0.3%	5.8%	+4.2%	-¥414M
49▼2	NichiasBuilding materials and contracts	¥28.5B	0.3%	9.4%	-0.2%	¥15.2B
50▼1	ToagoseiPlastics	¥28.2B	0.3%	9.8%	+1.9%	-¥9.13B

Showing the top 50. See all 131 in the list below

* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.

How they make money differently

Where each company's ¥100 of sales goes, and how much it keeps (company-wide).

Cost of sales
SG&A
Other
Operating profit

MAX
51
32
17
Sanwa Holdings
67
21
12
Rinnai
65
24
11
Aica Kogyo
72
17
11
Sangetsu
69
22
9
Takara Standard
64
28
8
Sekisui Chemical
68
24
8
Toto
65
28
7
Dai Nippon Printing
76
17
7
Sumitomo Forestry
77
16
7
Bunka Shutter
72
21
7
Nichiha
64
29
7
Yodoko
82
12
Okamoto Industries
80
14
Toli
70
25
TOPPAN Holdings
76
20
Aiphone
58
38
Panasonic Holdings
68
26
Cleanup
67
30
Lixil
66
31
Noritz
69
29
Nippon Paper Industries
83
15
Yamada Holdings
74
25
Corona
78
21
Sankyo Tateyama
81
19

Showing the 25 largest companies by revenue.

Ownership links

From the major-shareholder section of annual securities reports.

東ソー株式会社Outside
- AffiliateLonseal38.1%
積水ハウス株式会社Outside
- AffiliateAlmetax Manufacturing35.7%
- StakeSekisui Jushi3.3%
日本製鉄株式会社Outside
- AffiliateSanko Metal Industrial32.3%
株式会社ダスキンOutside
- AffiliateNAC Co .27.9%
兼松㈱Outside
- AffiliateHokushin26.5%
Sekisui JushiIn industry
- AffiliateNihon Kogyo23.7%
- StakeKFC10.6%
Bunka ShutterIn industry
- AffiliateFujisash23.5%
Taiheiyo CementIn industry
- AffiliateA&A Material20.3%
- StakeMino Ceramic4.8%
株式会社ハイレックスコーポレーションOutside
- StakeAlpha17.8%
Takara StandardIn industry
- StakeJanis16.4%
那須電機鉄工株式会社Outside
- StakeKFC14.3%
コクヨ株式会社Outside
- StakeTakano14.1%
佐藤商事株式会社Outside
- StakeNepon12.5%
長瀬産業株式会社Outside
- StakeFukuvi Chemical Industry12.4%
トルク株式会社Outside
- StakeOkabe11.7%
Yamada HoldingsIn industry
- StakeNAC Co .10.6%
三谷産業株式会社Outside
- StakeNikko Company10.1%
株式会社ニッソウOutside
- StakeJanis9.6%
日清紡ホールディングス株式会社Outside
- StakeShikoku Kasei Holdings Corpolation9.5%
ＤＯＷＡホールディングス株式会社Outside
- StakeKonoshima Chemical9.3%
丸紅株式会社Outside
- StakeOkamoto Industries8.4%
- StakeSuminoe5.5%
- StakeRiken Technos3.1%
Sumitomo ForestryIn industry
- StakeNichiha7.8%
- StakeEidai5.2%
- StakeOchi Holdings3.2%
Sekisui ChemicalIn industry
- StakeAlmetax Manufacturing6.7%
- StakeSekisui Jushi5.1%
住友化学株式会社Outside
- StakeOkura Industrial6.0%
- StakeSankyo Tateyama5.0%

The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.

Compare the leaders side by side

All companies in Housing Equipment & Building Materials (by revenue)

All 132 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.

Lixil¥1.51T · 5.3%
Toto¥1.34T · 4.2%
Panasonic Holdings¥1.08T · 5.3%
TOPPAN Holdings¥715.2B · 4.6%
Sanwa Holdings¥660.6B · 12.0%
Dai Nippon Printing¥512.1B · 7.3%
Rinnai¥470.4B · 10.8%
Yamada Holdings¥330.8B · 3.1%
Takara Standard¥252.5B · 7.5%
Sumitomo Forestry¥232B · 5.5%
Sekisui Chemical¥225.1B · 10.3%
Bunka Shutter¥220.3B · 8.8%
Sangetsu¥206.4B · 9.4%
Noritz¥202B · 2.1%
Yodoko¥184.7B · 6.5%
Sankyo Tateyama¥167.5B · 0.6%
Cleanup¥134.5B · 2.9%
Nichiha¥134.1B · 8.9%
Aica Kogyo¥115.5B · 21.5%
Toli¥112.3B · 4.5%
Corona¥85.3B · 1.0%
Aiphone¥80.8B · 3.2%
Nippon Paper Industries¥76.5B · 13.1%
Okamoto Industries¥75.8B · 0.7%
MAX¥75.2B · 25.2%
Eidai¥73.7B · 3.7%
Fujisash¥71.6B · 5.2%
Okabe¥69.8B · 6.8%
Wood ONE¥64.9B · 1.6%
Noda¥64.7B · 2.6%
Kamei¥48.4B · 2.6%
Komatsu Wall Industry¥46.7B · 8.8%
Chofu Seisakusho¥46.5B · 3.7%
Mirai Industry¥42.8B · 16.1%
Taiheiyo Cement¥41.7B · 4.5%
Zacros¥41.3B · 12.2%
Suminoe¥39.3B · 3.7%
Fukuvi Chemical Industry¥38.2B · 11.0%
Sekisui Jushi¥36.6B · 10.6%
Tachikawa¥35.9B · 10.4%
Kurimoto¥34.7B · 6.9%
Nippon Aqua¥33.7B · 8.2%
TKP¥33B · 2.6%
Maezawa Kyuso Industries¥31.7B · 23.6%
KVK¥31.3B · 10.6%
Inaba Seisakusho¥29.2B · 8.5%
Sanei¥29B · 6.3%
Sanyo Industries¥29B · 5.8%
Nichias¥28.5B · 9.4%
Toagosei¥28.2B · 9.8%
Nankai Plywood¥26.4B · 8.0%
Riken Technos¥26.3B · 4.0%
Lilycolor¥24.7B · 1.2%
Nihon Flush¥23.5B · 7.4%
A&A Material¥23.1B · 9.8%
Achilles¥23B · 10.4%
Toso¥22.8B · 4.1%
Nozawa¥22.3B · 8.9%
Lonseal¥21.7B · 4.9%
Toyo Shutter¥21.5B · 5.8%
Daiki Axis¥20.6B · 3.5%
Takasho¥20.2B · 0.5%
Shikoku Kasei Holdings Corpolation¥18B · 3.0%
Sanko Techno CO,.¥17.2B · 15.2%
Npr-Riken¥17.2B · 3.7%
Kodama Chemical Industry¥16.6B · 7.0%
Seven Industries¥15.6B · -0.4%
Konoshima Chemical¥15.4B · 9.6%
Alpha¥15.3B · 13.4%
Nitto Boseki¥15.1B · 1.3%
Ochi Holdings¥14.7B · 3.6%
Alinco¥14.5B · -2.5%
C.S. Lumber¥13.2B · 0.4%
Okura Industrial¥13.2B · 4.3%
Nisso Group¥12.8B · 8.7%
Fulltech¥12.7B · 19.7%
CK San-Etsu Metals¥12B · 15.6%
Dynic¥11.9B · 3.5%
SK Kaken¥11.7B · 15.3%
Daiken¥11.4B · 5.0%
JK Holdings¥11.3B · -5.5%
Nikko Company¥11B · 10.6%
Ryobi¥10.9B · 1.1%
Atom Livin Tech¥10.5B · 4.7%
Hokushin¥10.3B · -0.4%
Takamiya¥9.96B · 4.7%
SE¥9.86B · 4.2%
Kaneso¥8.37B · 11.1%
KFC¥8.14B · 7.0%
Almetax Manufacturing¥7.89B · 0.1%
Nippon Carbide Industries¥7.11B · 1.3%
Mitsuboshi Belting¥6.77B · 1.3%
Tokyo Board Industries¥6.63B · -1.2%
Tsuruya¥6.51B · 2.3%
Kensoh¥6.41B · 4.0%
Takahashi Curtain Wall¥6.25B · 0.3%
Nihon Decoluxe¥5.84B · 14.0%
Oiles¥5.76B · 8.1%
Yasunaga¥5.17B · 9.7%
Japan Insulation¥5.11B · 21.5%
Japan Power Fastening¥5.06B · 0.2%
Janis¥4.98B · -3.1%
Mikuni¥4.98B · -6.8%
NAC Co .¥4.7B · 2.0%
Odawara Engineering¥4.66B · 2.9%
Shinto¥4.23B · -2.9%
Danto Holdings¥4.2B · -18.3%
Nihon Kagaku Sangyo¥3.9B · 14.8%
Taki Chemical¥3.8B · 4.0%
Sankyokasei¥3.68B · 3.0%
Ahresty¥3.46B · 12.6%
Sanko Metal Industrial¥3.25B · 1.9%
Howa Machinery¥3.23B · 8.5%
Grandy House¥2.78B · -0.2%
MK Seiko¥2.77B · 5.7%
Otani Kogyo¥2.68B · 5.5%
Asahi Eito Holdings¥2.67B · -11.8%
R.c.core¥2.59B · 5.2%
Mino Ceramic¥2.26B · 9.4%
MEIWA Industry¥2.08B · 3.4%
Nitto Kohki¥2.08B · -2.8%
Kurogane Kosakusho¥1.62B · -9.3%
Correc Holdings¥1.6B · -18.5%
Takano¥1.17B · 1.3%
Daisan¥1.01B
Nihon Kogyo¥1B · -0.8%
Taihei Machinery Works¥945.6M · 3.5%
Klass¥745.5M · 2.7%
Nepon¥466.9M · 26.1%
Charle¥424M · -19.1%
Eiken Industries¥326.1M · 11.2%
Fuji Japan¥93.4M · 6.7%

Revenue · Op. margin

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