Keiwa

Basic Information

Stock Code
4251
Industry
Chemicals
Category Detail
Chemicals & Chemical Products
Prefecture
Tokyo
Establishment Year
September 1948
Listing Year
October 2019
Official Website
https://www.keiwa.co.jp/
TSE Information
TSE Information
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Overview

Keiwa is a leading LCD film manufacturer in the chemical industry, founded in 1948, with a high market share in light diffusion films for smartphones.

Current Situation

Keiwa boasts a high market share in light diffusion films for smartphone LCDs, achieving steady growth backed by stable technological expertise and production capabilities. In 2023, it promoted the development of high-value-added products and strengthened stable supply systems, contributing to performance stability. In addition to its core electronic materials business, the resin film and packaging materials sectors are also expanding. Compared to industry competitors, it maintains a solid customer base and competitiveness through technological innovation. It is advancing efforts to reduce environmental impact and developing recyclable films. In the medium term, it aims to expand applications beyond the smartphone market and strengthen overseas development. It continues R&D investments and plans market launches of new materials and functional films. The management plan through 2025 targets further sales growth and balancing sustainability. While affected by market fluctuations and raw material prices, it responds with a solid earnings foundation.

Trivia

Interesting Facts

  • Historic domestic optical film manufacturer founded in 1948.
  • Top-class market share in Japan for smartphone light diffusion films.
  • Specialized product lineup for semiconductor-related applications in electronic materials.
  • Pioneering presence in the industry through early development of eco-friendly products.
  • Listed on the Tokyo Stock Exchange in 2019.
  • Diversified management company growing in packaging materials.
  • Actively promotes collaborations and joint developments with competitors.
  • President Keiichi Nagamura is known as a technology-background executive.
  • Owns multiple manufacturing sites in Japan.
  • Holds numerous patents related to LCD films.
  • Products deployed not only for smartphones but also for automotive and solar panels.
  • Attracting attention as a prominent mid- and small-cap growth stock on the TSE.
  • Continuously improves yield rates through advanced manufacturing technology.
  • Conducting long-term investments in R&D for new materials.
  • Receives high evaluations from Japan and abroad for product quality management.

Hidden Connections

  • Serves as a key optical film supplier to major domestic smartphone manufacturers.
  • Maintains close cooperative relationships with pharmaceutical manufacturers in packaging materials.
  • Has collaboration track record with government on recycled materials technology compliant with environmental regulations.
  • Advancing joint development projects with materials manufacturers in electronic materials.
  • Some product patent technologies incorporated into license agreements with competitors.
  • Continues long-term product supply to domestic building materials manufacturers for industrial functional films.
  • Collaborates with environmental NPOs on marine plastic pollution countermeasures.
  • Founder family involvement in management and engineer-led executives shape the corporate culture.

Future Outlook

Growth Drivers

  • Expansion of demand in smartphone and display markets.
  • Increasing demand for high-function films in electronic materials.
  • Shift to sustainable products amid stricter environmental regulations.
  • Growing societal demand for renewable resource utilization.
  • New market development through multi-purpose deployment of industrial functional materials.
  • Aggressive overseas market expansion strategy.
  • Technological innovation promotion through R&D investments.
  • Product development responding to increasingly sophisticated customer needs.
  • Improved cost competitiveness through logistics and supply chain optimization.
  • Enhanced adaptability to diversification of digital devices.

Strategic Goals

  • Achieve 70% domestic market share in smartphone light diffusion films.
  • Increase recycled material ratio to over 40% of total products.
  • Expand overseas sales ratio to over 30%.
  • Achieve 20% sales ratio for functional films in new applications.
  • Reduce CO2 emissions by 50% compared to 2019.
  • Acquire global standards for quality and technology certifications.
  • Maintain R&D expenses at over 5% of sales.
  • Promote decarbonization of supply chain.
  • Company-wide digital transformation deployment.
  • Build diverse and sustainable talent development system.

Business Segments

LCD and Electronic Materials Manufacturing Industry

Overview
Provides cutting-edge LCD and electronic materials, contributing to quality improvement in smartphones and high-function electronic devices.
Competitiveness
High-precision optical film production technology
Customers
  • Smartphone manufacturers
  • Display manufacturers
  • Electronic component suppliers
  • Semiconductor manufacturers
  • Automotive electronics parts manufacturers
Products
  • Light diffusion films
  • LCD protective films
  • Polystyrene resin films
  • Photoresist raw materials
  • Semiconductor encapsulants

Packaging Materials Industry

Overview
Manufactures a variety of packaging materials, supporting the safety and convenience of food and pharmaceuticals.
Competitiveness
Development capabilities for environmentally friendly materials
Customers
  • Food manufacturers
  • Pharmaceutical manufacturers
  • Cosmetics manufacturers
  • Logistics companies
  • Retailers
Products
  • Food packaging films
  • Liquid filling films
  • Plastic bags
  • Pharmaceutical packaging materials
  • Industrial heavy-duty bags

Industrial Functional Materials Industry

Overview
Provides industrial films with superior durability and functionality, supporting product development across multiple fields.
Competitiveness
Technological capabilities to meet diverse industrial needs
Customers
  • Automotive parts manufacturers
  • Building materials manufacturers
  • Electronic equipment manufacturers
  • Industrial manufacturers
  • Solar cell manufacturers
Products
  • Heat- and abrasion-resistant films
  • EVA films for solar cells
  • Functional resin sheets
  • Electronic component protective materials
  • High-insulation films

Recycled Materials and Environmental Materials Industry

Overview
Provides recycled materials and sustainable packaging materials aimed at reducing environmental impact.
Competitiveness
Advanced technology compliant with environmental regulations
Customers
  • Recycling companies
  • Environmental companies
  • Packaging manufacturers
  • Government agencies
  • Environmental NGOs
Products
  • Recycled plastic films
  • Eco-friendly packing materials
  • Recyclable packaging materials

Health and Medical Materials Industry

Overview
Develops and provides high-quality, safe special films for medical and health fields.
Competitiveness
Strict adherence to quality control and safety standards
Customers
  • Pharmaceutical manufacturers
  • Medical device manufacturers
  • Testing organizations
  • R&D institutions
  • Universities and research institutes
Products
  • Special films for pharmaceuticals
  • Medical packing materials
  • Testing materials

Competitive Advantage

Strengths

  • High technological expertise in LCD light diffusion films
  • High market share in smartphone products
  • Film development capabilities for diverse industries
  • R&D capabilities for environmentally friendly materials
  • Long industry experience and stable customer base
  • Effective quality management system
  • Quick market response capabilities
  • Stable production system
  • Diversified business portfolio
  • Strong supply chain network

Competitive Advantages

  • Domestic top market share in light diffusion films for smartphone LCDs
  • Advanced optical design technology and manufacturing know-how
  • Product customization capabilities
  • Early development of environmental impact reduction technologies
  • Broad product range from electronic materials to packaging materials
  • Customer-oriented service system
  • Continuous product improvements through R&D investments
  • Acquisition of various quality certifications
  • Stable supply system and flexible production capacity
  • Robust domestic and international supply chain

Threats

  • Intensifying competition from high-performance overseas manufacturers
  • Risk of raw material price instability
  • Slowdown in smartphone market growth
  • Cost increases due to stricter environmental regulations
  • Impact of exchange rate fluctuations
  • Impact of customer product specification changes
  • Need to keep up with the speed of technological innovation
  • Market pressure from new entrants
  • Fluctuations in resource and energy prices
  • Global supply chain risks

Innovations

2024: Development of new high-performance light diffusion film products

Overview
Developed a new light diffusion film for smartphones that balances transmittance and diffusion.
Impact
Contributes to market share expansion and customer satisfaction improvement

2023: Introduction of recycled film manufacturing technology for reduced environmental impact

Overview
Established mass production system for packaging films using recycled resources.
Impact
Contributes to achieving sustainability goals

2022: Development of high heat-resistant films for next-generation electronic materials

Overview
Newly introduced high heat-resistant resin films for semiconductor manufacturing.
Impact
Contributes to expansion in industrial applications and increased operating profit

2021: Automation of smartphone optical film production lines

Overview
Introduced automated control systems in manufacturing processes to improve production efficiency.
Impact
Reduced manufacturing costs and improved quality stability

2020: Expansion of eco-friendly packaging materials lineup

Overview
Expanded biodegradable and recyclable packaging film products.
Impact
Successfully complied with environmental regulations and acquired new customers

Sustainability

  • Promotion of recycled plastic resin usage
  • CO2 emission reduction activities in manufacturing processes
  • Efforts to reduce hazardous substances
  • Employee awareness improvement through environmental education
  • Continuous improvement of waste recycling rate
  • Active promotion of green procurement
  • Water resource conservation and pollution prevention
  • Establishment of sustainable procurement standards
  • Reduction of environmental impact across the supply chain
  • Regular publication of environmental reports