NOF

Basic Information

Stock Code
4403
Industry
Chemicals
Category Detail
Chemicals & Chemical Products
Prefecture
Tokyo
Establishment Year
July 1949
Listing Year
September 1949
Official Website
https://www.nof.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Meisei Industrial, Ariake Japan, Technomatrix, Nissan Chemical, Sanwa Yuka Kogyo, Tokyo Ohka Kogyo, Nippon Seika, Matsumoto Oil & Fat Pharmaceutical, ADEKA, Shin-Nihon Rika, Toho Chemical Industry, Daiichi Kogyo Seiyaku, Nikka Chemicals, Niitaka, Sanyo Chemical Industries, Uemura Industry, Nippon Seiro, Howa Machinery, Sankyo Kasei

Overview

NOF is a major Japanese chemical manufacturer established in 1949, developing diverse chemical businesses centered on oil and fat products, extending to rust prevention and the space industry as a diversified company.

Current Situation

NOF recorded consolidated net sales of approximately 222.2 billion yen and operating profit of approximately 42.1 billion yen for the fiscal year ended March 2024, maintaining solid performance. In addition to its core oil and fat-related business, its explosives business manufactures defense products for the Self-Defense Forces and solid propellants for space, providing a stable revenue base. Through diversification, it advances technology development across a wide range of fields including formulated chemicals, electronic materials, life sciences, and DDS. Research institutes are established across Japan, covering everything from basic research to applied development. Since 2023, it has promoted capital investments and technological innovations, strengthening safety management and working to reduce disaster risks. Collaborating with group companies, it strategically expands domestic and international markets and develops new markets. It also focuses on developing environmentally considerate products and adopting sustainable production technologies, laying the groundwork for long-term growth.

Trivia

Interesting Facts

  • NOF is a long-established chemical manufacturer originating from the Nissan Concern.
  • One of the few companies in Japan manufacturing solid propellants for space.
  • Has strengthened safety management after several explosives factory accidents.
  • Diverse oil and fat products are widely used in automotive, food, and industrial fields.
  • Focusing on bio technology and life sciences in Japan's chemical industry.
  • Head office located in Ebisu Garden Place Tower.
  • Multiple research institutes and production bases domestically, expanding business diversely.
  • Product lineup spans from food oils and fats to rust preventives and explosives.
  • Wide network as a member of both Furong and Shunko Groups.
  • One of the major constituent stocks in the Tokyo Stock Exchange Prime Market.
  • Traditional chemical company with over 70 years of history since founding in 1949.
  • Major production bases in Hyogo, Kanagawa, Oita, and Aichi.
  • Focusing on pharmaceutical intermediates and DDS-related products.
  • Actively conducting R&D on high-function resin films and electronic materials.
  • Pursuing corporate management emphasizing sustainability and safety.

Hidden Connections

  • The corporate group that formed NOF was a key component of the Nissan Concern.
  • Has a joint venture subsidiary with Japan Steel Works, with deep collaboration in industrial machinery.
  • Major shareholders include major financial institutions such as Mizuho Bank and Meiji Yasuda Life.
  • Explosives manufacturing technology has been transferred not only to defense but also to space industries.
  • Rare company affiliated with both Shunko Group and Furong Group.
  • Strict safety management and environmental compliance lead to high evaluations domestically and internationally.
  • Thick technological accumulation enables wide expansion from pharmaceutical raw materials to electronic materials.
  • Research institutes dispersed across multiple domestic regions are advancing technology development.

Future Outlook

Growth Drivers

  • Increasing demand for environmentally friendly chemicals
  • Growth in space industry and stable defense orders
  • Expansion of life sciences and DDS markets
  • Rising demand for high-value-added electronic materials
  • Increasing demand for high-function food oils and fats domestically and internationally
  • Advancing product development focused on sustainability
  • Creating new materials through technological innovation
  • Strengthening expansion into overseas emerging markets
  • Advancing safety management technology
  • Flexible production system responsive to customer needs
  • Securing technological superiority through strengthened R&D
  • Promoting product improvements through domestic and international regulatory compliance

Strategic Goals

  • Achieve zero environmental impact factory operations
  • Reach over 30% sales ratio of bio-based products
  • Expand sales in pharmaceutical raw materials and DDS business
  • Achieve over 40% overseas sales ratio
  • Continuously achieve zero safety accidents
  • Expand market share through new material development
  • Deepen utilization of digital transformation
  • Build sustainable procurement and supply chains
  • Strengthen collaboration and trust with local communities
  • Enhance organizational strength through diverse talent utilization

Business Segments

Oil and Fat Chemicals Business

Overview
Provides oil and fat-based products and additives to a wide range of industries including automotive and machinery.
Competitiveness
Multi-functional product lineup adaptable to a wide range of applications
Customers
  • Automotive industry
  • Machinery manufacturing
  • Construction industry
  • Chemical industry
  • Electronics manufacturers
  • Food factories
  • Packaging materials manufacturers
  • Environmental companies
  • Bio-related companies
  • Defense-related companies
Products
  • Industrial oils and fats
  • Surfactants
  • Specialty ester oils
  • Functional waxes
  • Environmentally friendly oils and fats
  • Lubricant base materials
  • Bio-based products
  • Flame retardants
  • Rust preventives
  • Petroleum-based cleaners
  • Additives
  • Food processing oils
  • Packaging resin films
  • Electronic materials
  • Industrial explosives

Explosives and Propellants Business

Overview
Provides high-performance explosives and safety device materials in defense and space fields.
Competitiveness
Explosives manufacturing with high safety standards and technical expertise
Customers
  • Self-Defense Forces / Defense industry
  • Space industry
  • Mining industry
  • Construction companies
  • Welding-related companies
  • Safety device manufacturers
  • Vehicle safety systems
  • Industrial factories
  • Research institutions
  • Environmental industries
Products
  • Smokeless powder
  • Solid propellants
  • Wet nitrocellulose
  • Airbag igniters
  • Rust-preventive explosives
  • Welding explosives
  • Industrial blasting agents
  • Specialty explosive products
  • Safety-related chemicals
  • Precision explosives

Formulated Chemicals and Materials Business

Overview
Supplies advanced formulated chemicals and functional materials to multiple fields.
Competitiveness
Integrated development from chemical synthesis to applications
Customers
  • Electronics manufacturers
  • Semiconductor manufacturers
  • LCD panel manufacturers
  • Packaging materials manufacturers
  • Food processing companies
  • Biotechnology companies
  • Pharmaceutical manufacturers
  • Automotive parts manufacturing
  • Cosmetics manufacturers
  • Textile industry
Products
  • Resin films
  • Optical films
  • Photoresists
  • Semiconductor encapsulants
  • Flame-retardant materials
  • Pharmaceutical intermediates
  • Additives
  • Bio materials
  • Drug delivery materials
  • Various coating agents

Food and Healthy Oils Business

Overview
Widely provides high-quality edible animal and vegetable oils and fats to the food industry.
Competitiveness
Oil refining technology emphasizing safety and quality
Customers
  • Food manufacturers
  • Restaurant chains
  • Health food companies
  • Processed food factories
  • Distributors
  • Supermarkets
  • Convenience stores
  • Mail-order companies
  • Confectionery manufacturers
  • Food service industry
Products
  • Edible oils and fats
  • Canola oil
  • Salad oil
  • Functional healthy oils
  • Organic oils
  • Bio oils and fats
  • High-quality refined oils
  • Food additive oils and fats
  • Blended edible oils
  • Plant-based oils

Life Sciences and Pharmaceuticals Related

Overview
Manufactures high-function raw materials and materials for pharmaceutical and bio industries.
Competitiveness
Advanced synthesis technology for cutting-edge medical materials
Customers
  • Pharmaceutical companies
  • Bio-medical companies
  • Research institutions
  • Diagnostic reagent manufacturers
  • Health food manufacturers
  • Hospitals and medical facilities
  • Regenerative medicine companies
  • Medical device manufacturers
  • Drug delivery related
  • Drug discovery labs
Products
  • Pharmaceutical bulk drugs
  • Pharmaceutical intermediates
  • DDS materials
  • Bio materials
  • Drug discovery support chemicals
  • Drug delivery system materials
  • Regenerative medicine materials
  • Therapeutic drug materials
  • Medical-compatible chemicals
  • Biocompatible materials

Packaging and Display Materials

Overview
Provides functional materials for packaging and electronic displays.
Competitiveness
High-function and environmentally friendly product technology
Customers
  • Electronics manufacturing
  • LCD manufacturers
  • Packaging materials providers
  • Food manufacturing
  • Automotive industry
  • Communications equipment manufacturers
  • Home appliance retailers
  • Cosmetics manufacturers
  • Consumer goods companies
  • Industrial goods manufacturers
Products
  • Packaging resin films
  • LCD optical films
  • Electronic display materials
  • Barrier films
  • Protective films
  • Laminate materials
  • Touch panel materials
  • Clear films
  • Heat-resistant films
  • Specialty packaging materials

Rust Prevention and Specialty Chemicals Business

Overview
Manufactures high-function rust preventives and chemical products for industrial and defense fields.
Competitiveness
Advanced safety standards and environmentally compatible technology
Customers
  • Machinery manufacturing
  • Construction industry
  • Automotive industry
  • Shipping industry
  • Steel industry
  • Petrochemical plants
  • Energy companies
  • Aerospace industry
  • Infrastructure operators
  • Military-related
Products
  • Rust preventives
  • Specialty additives
  • Flame retardants
  • Environmentally friendly cleaners
  • Industrial chemicals
  • Welding-related chemicals
  • Military safety materials
  • Environmental equipment materials
  • Heat- and corrosion-resistant materials
  • High-performance lubricant additives

Logistics and Processing Support Business

Overview
Provides supply chain support to group and related companies.
Competitiveness
Integrated logistics and processing service system
Customers
  • Group companies
  • Manufacturers
  • Distributors
  • Warehouse operators
  • Transportation companies
  • Sales agents
  • Industrial machinery industry
  • Chemical product sales
  • External processors
  • Customer supply chains
Products
  • Factory logistics management
  • Product processing
  • Warehouse management systems
  • Transportation management
  • Order fulfillment support
  • Quality management
  • Production adjustment services
  • Safety management
  • Inventory management
  • Risk management

R&D Support and Technology Transfer

Overview
Promotes industry-academia-government collaboration in R&D and disseminates technology.
Competitiveness
Proven track record of technology collaboration across diverse industries
Customers
  • Universities and research institutions
  • Pharmaceutical companies
  • Technology ventures
  • Industrial technology research institutes
  • Life sciences companies
  • Advanced chemical companies
  • Electronic materials manufacturers
  • Environmental technology companies
  • Defense-related research
  • Chemical machinery manufacturing
Products
  • Technology consulting
  • Joint research
  • Product development support
  • Patent technology transfer
  • Pilot production
  • Analysis technology
  • Technology evaluation
  • Quality assurance technology
  • Material evaluation
  • Safety verification

Environmentally Friendly Products Business

Overview
Provides diverse products contributing to reduced environmental impact and social contribution.
Competitiveness
Sustainable material development capabilities and market adaptability
Customers
  • Environmental services
  • Public entities
  • Renewable energy companies
  • Manufacturing
  • Local governments
  • Recycling industry
  • Bio-related companies
  • Fuel cell related
  • Environmental equipment manufacturers
  • Chemical manufacturing
Products
  • Biodegradable oils and fats
  • Environmentally compatible detergents
  • Energy-saving additives
  • Wastewater treatment agents
  • Recycled materials
  • Biofuel raw materials
  • Environmental protectants
  • Low environmental impact materials
  • Regenerated materials
  • Solar cell materials

Food-Related Raw Materials Supply

Overview
Widely supplies high-function raw materials and oil/fat materials essential for food manufacturing.
Competitiveness
Safety quality management and adaptability to wide applications
Customers
  • Frozen food manufacturers
  • Health food manufacturers
  • Functional food developers
  • Nutritional supplement providers
  • Packaging companies
  • Beverage manufacturers
  • Feed manufacturers
  • Food service industry
  • Pharmaceutical food companies
  • Processed food companies
Products
  • Edible oil and fat raw materials
  • Functional fatty acids
  • Nutritional supplement raw materials
  • Healthy materials
  • Food additive oils and fats
  • Bio-derived products
  • Food packaging materials
  • Specialty fatty acids
  • Beverage oils and fats
  • Medical food materials

Chemicals for Defense and Space Industries

Overview
Supports military and space sectors with advanced explosives and chemical technology.
Competitiveness
Compliance with stringent safety standards and long-term supply capabilities
Customers
  • Ministry of Defense
  • JAXA
  • Military companies
  • Space-related companies
  • Defense equipment industry
  • Aerospace parts manufacturers
  • Research institutions
  • Defense transportation providers
  • National defense industry
  • Specialty materials manufacturers
Products
  • Solid propellants
  • Specialty explosives
  • Defense chemicals
  • Space chemicals
  • Safety monitoring materials
  • Blasting agents
  • High-performance propellants
  • Rust prevention materials
  • Military explosive products
  • Test and research support

Competitive Advantage

Strengths

  • Diversified business portfolio
  • Advanced chemical technology and manufacturing know-how
  • Strong ties with defense and space industries
  • Production bases and research institutes domestically and internationally
  • Long-term safety management system
  • Ability to meet diverse market needs
  • Robust network of key subsidiaries
  • Capital strength utilized for capital investments
  • High-quality oil and fat product lineup
  • Broad customer base

Competitive Advantages

  • Position as a leading manufacturer in oils/fats and formulated chemicals
  • Specialized technology for Self-Defense Forces defense products
  • Stable supply system for H-IIA rocket propellants
  • High-function material lineup adaptable to wide industrial uses
  • Efficient operations of dispersed research and manufacturing sites
  • Early initiatives in environmentally friendly products
  • Integrated technology development from chemical synthesis to products
  • Synergy effects with food oils and fats business
  • Comprehensive disaster risk management and safety audit systems
  • Long-term trust relationships with key customers and partners

Threats

  • Production restrictions risk from strengthened chemical regulations
  • Technological innovations and price competition from overseas rivals
  • Safety accident risks in explosives and defense products
  • Fluctuations in raw material prices and procurement risks
  • Business pressures from increasing demands for environmental load reduction
  • Declining demand due to Japan's shrinking population
  • Challenges in securing and developing technical talent
  • Factory shutdown risks from natural disasters
  • Fluctuations in defense orders due to international situations
  • Obsolescence of existing technologies due to emerging material technologies

Innovations

2024: Development of New Solid Propellant

Overview
Developed a solid propellant for H-IIA rockets with improved efficiency and safety.
Impact
Successfully enhanced rocket propulsion and safety.

2023: Mass Production of Bio-based Oil and Fat Products

Overview
Commercial plant for environmentally friendly bio oil and fat products begins operation.
Impact
Contributes to expanding sustainable product lineup.

2022: New DDS Technology Application Development

Overview
Advancing development of high-function materials for drug delivery systems (DDS).
Impact
Contributes to expanding new applications in pharmaceuticals.

2021: Renewal of Environmentally Friendly Detergent Series

Overview
Introduced new product lineup using highly biodegradable surfactants.
Impact
Improved market evaluation as environmentally compliant products.

2020: Development of Miniaturization Technology for Advanced Electronic Materials

Overview
Evolved microfabrication technology for semiconductor and display materials.
Impact
Achieved higher performance and reliability of products.

Sustainability

  • Reducing environmental impact through active use of biomass raw materials
  • Expanding energy-saving equipment in factories
  • Promoting waste reduction and higher recycling rates
  • Expanding environmentally friendly product lines
  • Strengthening safety management to reduce accidents
  • Setting and implementing CO2 emission reduction targets
  • Participating in environmental protection activities with local communities
  • Compliance with sustainable procurement policies
  • R&D of sustainable bio materials
  • Enhancing employee environmental education
  • Promoting water resource recycling
  • Advancing green chemistry technologies