MASARU CORPORATION (1795) Stock Price

Masaru handles waterproofing construction and renovation work for new buildings, as well as direct contract projects. The company also provides equipment installation services including air conditioning, heating and cooling, water supply and drainage systems, and assembles, installs, and maintains industrial machinery such as drying and painting equipment and dust collection systems centered on exhaust devices. Beyond construction work alone, the company offers comprehensive services including sales of building materials and equipment rentals.

The company's primary customers are building owners, construction and development companies, and manufacturers. It generates revenue through construction contracts, equipment installation, and maintenance agreements. In addition to initial revenue from construction projects, the company secures recurring revenue from material sales, equipment rentals, and periodic maintenance services.

The business is divided into two main divisions: construction and equipment installation. The construction division handles new waterproofing, renovation, and direct contract projects, along with material sales and equipment rentals. The equipment installation division performs air conditioning and water supply/drainage work, and assembles, installs, and maintains drying, painting, and dust collection equipment centered on exhaust devices. The company operates efficiently by coordinating its group's order intake system across both divisions.

The company has established a long-term management plan spanning nine years from October 2021 to September 2030, with the vision of "becoming a company chosen for over 100 years." The final-year targets include achieving "#1 market share among Japan's top 10 general contractors" and "15% ROE," while clearly identifying growth field development. In the near term, the company aims to improve financial metrics such as equity ratio, operating profit margin on sales, and earnings per share, thereby maximizing corporate value on a stable earnings foundation. In parallel, the company is advancing risk management initiatives including improved estimation accuracy and strengthened cost management systems, in response to external uncertainties and persistently high material and labor costs.

Priority investment and reinforcement areas include expanding facilities operations—such as air conditioning, water supply and drainage systems, and assembly, installation, and maintenance of industrial machinery—in addition to traditional waterproofing for new construction and renovation work. To expand the order pipeline, the company is pursuing business partnerships in temporary construction and responding to restoration projects, while differentiating through integrated services including material sales, equipment rental, and regular maintenance. The company will strengthen its order acquisition system through improved sales information sharing and enhanced coordination among renovation teams, aiming to expand market share while securing profitability.

New market development focuses on two main pillars: cultivating direct order markets and strengthening subsidiary segments. Growth investments in adjacent fields will be pursued through M&A and business/capital partnerships, expanding recurring revenue through equipment installation and maintenance contracts leveraging existing customer bases in manufacturing and other sectors. Additionally, by strengthening subsidiary management across the group, the company will stabilize the overall order foundation and pursue long-term market share acquisition among Japan's top 10 general contractors.

Technology innovation efforts center on productivity improvement and quality standardization. Working with the partner organization (Shōei-kai) composed of cooperating companies, the company will establish unified construction quality standards and enhance on-site capabilities through pre-construction review meetings, specialized training, and on-the-job training. The company will also advance capital investments in labor-saving and digitalization initiatives, while working to improve estimation accuracy through data utilization and strengthen cost management systems. These efforts aim to achieve both improved profitability and sustained growth.