■Company Overview
1. Company history
Wavelock Holdings ＜7940＞ originated from Nippon Wavelock Co., Ltd., which was established in 1964 with equal investment by three companies, Nissho Corporation (currently Sojitz ＜2768＞), Nippon Carbide Industries (4064), and Maruto Kasei Kogyo Co., Ltd. (currently Tatsuta Chemical Co., Ltd.), to introduce manufacturing method patent “Wavelock” technology related to thread-reinforced plastic sheets from Italy. The wave lock manufacturing method is a manufacturing method in which multiple synthetic fiber threads are arranged in waves (waves) between two sheets of plastic film and adhesively fixed (locked) to form a sandwich structure, and resin-processed sheets made by the same manufacturing method have characteristics such as having elasticity and at the same time greatly improving physical strength. Vinyl products used in the agricultural field in the 1960s have an issue that they are weak in strength and break easily, and the founder, Kinebuchi Hiromi (Kinebuchi Hiromi), saw that there was a need for wavelock products in the same field and decided to introduce technology starting with agricultural raincoats. After that, it expanded its market base to vinyl houses, raincoats, industrial materials, etc., and expanded its business.
In addition to entering the wallpaper industry as a wallpaper-based manufacturer in 1979, it continued to grow while promoting diversification of business due to the founder's strong leadership, such as manufacturing and sales of multilayer laminate sheets combining multiple materials, such as metal-evaporated polyester film, which is the foundation of the current advanced technology business, and in 1990, it was registered as a storefront trading stock with the Japan Securities Dealers Association and publicly traded. Management was taken over in 2003/4 by Mr. Kinebuchi Jun (Kinebuchi Jun), the eldest son of the founder and former president and representative director, and since then they have been actively working on M&A as one of their growth strategies, and in 2005/4, they transitioned to a pure holding company system.
Regarding overseas expansion, in the material solutions business, a joint venture was established in China in 2012 to enhance manufacturing functions in the knitting business, and in 2018, a subsidiary was established in Thailand for the purpose of strengthening business activities in the ASEAN region. Meanwhile, in the advanced technology business, sales subsidiaries were established in Korea in 2012, the US in 2018, and Germany in 2019. As for European and American subsidiaries, we are promoting sales activities mainly targeting the automotive sector. Furthermore, in 2013, a subsidiary was established in Hong Kong for the purpose of strengthening trading company functions in the Asian region.
In March 2021, 51% of the shares of Wavelock Interior Co., Ltd. (currently Creanate Co., Ltd.) were transferred to Sangetsu ＜8130＞, and the interior business, which was one of the main businesses, was separated. Sangetsu is the largest interior trading company and concluded a capital and business alliance in 2015 as the main customer, and although it was also the company's largest shareholder, the interior business was transferred due to discussions between the two parties, and the capital and business alliance was also dissolved. The remaining 49% of Creanate's shares were transferred in 2022/5, and the funds obtained from stock sales are invested in advanced technology businesses and new businesses where growth can be expected, M&A, alliance funds, etc., and are adopting a strategy aimed at improving corporate value. Recently, 20.32% of the shares of the resin processing manufacturer RP Topra were acquired in 2023/6, making it an equity method related company.
(Author: FISCO Visiting Analyst Joe Sato)