Mino Ceramic

Basic Information

Stock Code
5356
Industry
Glass and Stone Products
Category Detail
Construction Materials & Equipment
Prefecture
Aichi Prefecture
Establishment Year
August 1918
Listing Year
May 1949
Official Website
https://www.mino-ceramic.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Shinagawa Refractories, Kurosaki Harima, Rutsubo, Yotai, Nikkato, Nanso Tsushin

Overview

Mino Ceramic is a core manufacturer of refractory bricks and ceramics products founded in 1918, providing high-performance materials primarily to the cement industry and holding a solid position within the industry.

Current Situation

Mino Ceramic recorded consolidated sales of 13.2 billion yen and net assets of 10.1 billion yen in the fiscal year ended March 2020, maintaining a stable financial foundation. Its mainstay refractory brick business has established a mid-tier position in the industry centered on cement-related sectors, with the plant business also expanding. Centered on its technical research institute, it advances advanced technology development in refractories and ceramics, focusing on productivity improvements and enhanced product quality. In 2021, it received the Minister of Education, Culture, Sports, Science and Technology Award, underscoring its technological prowess. In recent years, it has integrated subsidiaries to promote business efficiency and transitioned to the Tokyo Stock Exchange Standard Market in March 2024. In sustainability efforts, it promotes environmentally considerate material development and waste reduction. Moving forward, it aims for sustainable growth through differentiation from competitors, expansion of the plant business, and new product development. It is also actively strengthening regional relationships and developing overseas markets.

Trivia

Interesting Facts

  • Refractory brick manufacturer with over 100 years of history since founding.
  • Acquired Kao's high-function ceramics business in 2017.
  • Received Minister of Education, Culture, Sports, Science and Technology Award for Creative Ideas and Ingenuity.
  • Head office and main factory located in Mizunami City, Gifu Prefecture.
  • Solid mid-tier position in Japan's refractory brick market.
  • Absorbed and merged multiple subsidiaries to integrate and streamline operations.
  • Transitioned to Tokyo Stock Exchange Standard Market.
  • Owns technical research institute in Handacho for ongoing R&D.
  • ISO9001 certification for refractory brick manufacturing processes.
  • Corporate culture actively engaged in community contributions.
  • Sales offices in major cities nationwide for broad coverage.
  • Major shareholders include Taiheiyo Cement and Mizuho Bank.
  • Diverse lineup of industrial ceramics products.
  • Succeeded in developing proprietary composite materials in refractories field.
  • Many executives from industry backgrounds.

Hidden Connections

  • Capital ties with major customer Taiheiyo Cement, establishing stable supply system.
  • Technical support network through subsidiary Japan Ceramic Engineering.
  • Strengthened cross-industry collaboration via 2017 acquisition of Kao's high-function ceramics business.
  • Listed on both Nagoya and Tokyo Stock Exchanges.
  • Participates in industrial promotion projects with local Gifu and Aichi Prefectures.
  • Advances joint developments with domestic universities and research institutions via technical research institute.
  • Maximized group synergies through subsidiary integration.
  • Some high-function ceramics products deployed for semiconductor manufacturing equipment.

Future Outlook

Growth Drivers

  • Increasing demand for equipment renewal in domestic cement and steel industries
  • Efficiency improvements through digitalization of plant business
  • Expansion of high-function ceramics parts into other industries
  • Increasing demand for eco-materials amid stricter environmental regulations
  • Demand for high value-added products in domestic and international refractories markets
  • Market introduction of energy-saving refractories via technological innovation
  • Group-wide business expansion through subsidiary integration
  • Comprehensive technical support leveraging regional collaborations
  • New market creation through diversification of industrial materials
  • Overseas market entry and strengthened local partnerships
  • Advancement of sustainable resource procurement and manufacturing processes

Strategic Goals

  • Maintain and expand domestic refractory brick market share to over 30%
  • Increase plant business sales ratio to over 50%
  • Develop 5 or more new markets with high-function ceramics products
  • Reduce greenhouse gas emissions by 50% from 2010 levels
  • Roll out digital production management across the group
  • Secure over 1 billion yen annual R&D investment in new materials
  • Increase number of domestic and international technical partnerships by 5 or more per year
  • Promote joint research through strengthened local community ties
  • Improve safety labor index by 20% above industry average
  • Obtain low-environmental-impact certifications for entire product lineup

Business Segments

Cement Plant Materials

Overview
Provides refractory materials and repair materials for cement plant furnaces.
Competitiveness
Development capabilities in diverse refractory materials strong in high-temperature environments
Customers
  • Cement manufacturers
  • Production equipment makers
  • Plant construction companies
  • Maintenance contractors
Products
  • Refractory bricks
  • Refractory concrete
  • Refractory mortar
  • Furnace ceramic components

Steel Industry Materials

Overview
Manufactures and supplies refractory components for the steel industry.
Competitiveness
Product lineup excelling in wear resistance and high heat resistance
Customers
  • Steel manufacturers
  • Steelmaking plant companies
  • Heavy industry-related companies
Products
  • High-performance refractory bricks
  • Ceramics parts
  • Industrial furnace components

Industrial Ceramics

Overview
Provides high-function ceramics products for industrial machinery.
Competitiveness
High-precision processing and customization technology
Customers
  • Electronics manufacturers
  • Automotive parts companies
  • Precision machinery makers
Products
  • Fine ceramics parts
  • High heat-resistant ceramic tubes
  • Ceramic insulation

Environmental & Energy Plants

Overview
Supplies refractory materials for environmentally compatible plants.
Competitiveness
Product development considering reduced environmental impact
Customers
  • Waste treatment companies
  • Power plant equipment companies
  • Chemical plant makers
Products
  • Refractory mortar
  • Insulation blankets
  • Furnace structural materials

Building Materials Supply

Overview
Manufactures and wholesales ceramic products for construction.
Competitiveness
Fusion of diverse designs and high durability
Customers
  • Construction companies
  • Renovation contractors
  • Trading companies
Products
  • Heat-resistant roofing tiles
  • Exterior wall tiles
  • Architectural refractory bricks

Competitive Advantage

Strengths

  • High refractory technology and product development capabilities
  • Stable revenue base and financial strength
  • Business expansion through diverse subsidiaries
  • Industry trust backed by long history
  • Robust R&D and quality control systems
  • Regionally rooted business operations
  • High market share in major domestic markets
  • Diverse refractory and ceramics product lineup
  • Strong relationships with parent company and major shareholders
  • Revenue diversification through plant business expansion

Competitive Advantages

  • Stable market position as a top mid-tier refractory brick maker for the cement industry
  • Ongoing development of high-function ceramics via technical research institute
  • Strengthened manufacturing, sales, and technical support through multiple subsidiaries
  • Broad product lines of high-performance refractories and customization capabilities
  • Stable sales secured through long-term transactions with major customers
  • Extensive production bases and sales networks across multiple sites
  • Technological prowess recognized by Minister of Education, Culture, Sports, Science and Technology Award
  • Advanced environmental consideration in product development and sustainability
  • Improved fundraising capabilities through listing on Tokyo Stock Exchange Standard Market
  • Market risk diversification through diversified business operations

Threats

  • Risk of fluctuating raw material prices
  • Technological innovations and price competition from domestic and international rivals
  • Spread of alternative materials from new refractory developments
  • Slump in semiconductor-related demand affecting some products
  • Increased manufacturing costs from stricter environmental regulations
  • Trade friction and regulatory risks in overseas markets
  • Reduced capital investment due to economic fluctuations
  • Supply chain disruptions from COVID-19 impacts
  • Potential productivity declines from labor shortages
  • Risk of damage to production sites from natural disasters

Innovations

2024: Development of New Composite Refractory Technology

Overview
Successfully developed new composite refractory bricks with enhanced heat and wear resistance.
Impact
Contributes to cement plant efficiency and promotes increased domestic market share.

2023: Launch of Environmentally Friendly Refractory Concrete Products

Overview
Commercialized refractory concrete using low-CO2 emission manufacturing processes.
Impact
Supports compliance with stricter environmental regulations and improves customer satisfaction.

2022: Advancement of Digitalization in Plant Business Division

Overview
Introduced IoT-based remote monitoring and management systems for production equipment.
Impact
Achieved improved maintenance efficiency and reduced downtime.

2021: R&D of Advanced Fine Ceramics Materials

Overview
Successfully developed new precision-machinable ceramics parts.
Impact
Acquired customers in electronics field and strengthened competitiveness.

Sustainability

  • Promotion of energy-saving in manufacturing processes
  • Efforts to improve waste recycling rates
  • Development of new low-environmental-impact materials
  • Improvement of work environment through strengthened safety and health activities
  • Environmental conservation activities in collaboration with local communities
  • Promotion of ethical procurement in supply chains
  • Measures toward setting and achieving CO2 emission reduction targets
  • Application of ISO14001 environmental management system
  • Reduced environmental impact through product longevity
  • Employee environmental education and awareness activities
  • Introduction of green procurement standards