May 2026
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Largest Building Products Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Daikin Industries, Sekisui Chemical, Sanwa Holdings, LIXIL and SHO-BOND Holdings Co.
 | Established in Osaka, Japan, in 1924, Daikin Industries is one of the world’s largest residential and commercial heating, ventilation, and air conditioning product and service companies. North America, Japan, China, and Europe are Daikin’s four biggest markets, with North America accounting for over 30% of the company’s revenue over the years. The air conditioning segment represents about 90% of Daikin’s revenue and operating income, while chemicals and others account for the remaining 10%. | $154 | +47% | $45B | $46B | 1.5x | 11.0x | ||
| Sekisui Chemical Co Ltd is a Japanese diversified holding company engaged in the housing, infrastructure, high-performance plastics, and medical businesses. The company operates through four segments: Housing, which handles the manufacture, sale, and renovation of unit housing and real estate services; Environment & Lifeline, which produces and sells plastic pipes, building materials, and infrastructure products; High Performance Plastics, which manufactures glass interlayer films, polyolefin foams, adhesive tapes, and functional materials; and Medical, which produces and sells diagnostic reagents, medical raw materials, and pharmaceutical intermediates. It generates the majority of its revenue from the Housing segment. | $15 | -- | $6B | $6B | 0.8x | 5.6x | ||
| Sanwa Holdings Corp is a Japan-based company engaged in producing and selling construction materials for buildings and commercial facilities. The company also provides maintenance and renovation services. Its products include condominium doors, window shutters, exterior products, garage doors, operators, and hinge doors for residential buildings; and heavy-duty shutters, steel doors, partitions, stainless steel products, overhead doors, automatic doors, truck/trailer doors, and industrial doors for non-residential buildings. The company operates in Japan, North America, and Europe. | $21 | -- | $4B | $4B | 0.9x | 6.3x | ||
| LIXIL Corp is a Japan-based company engaged in housing and building materials businesses. The company operates through two main segments: Water Technology Business and Housing Technology Business. The Water Technology Business manufactures and sells sanitary ware, water faucets, bathroom units, and system kitchens. The Housing Technology Business provides windows, doors, shutters, interior and exterior building materials, curtain walls, housing solutions, and real estate management services. It generates the majority of its revenue from the Water technology business segment. | $10 | -- | $3B | $6B | 0.7x | 8.5x | ||
| SHO-BOND Holdings Co Ltd is a holding company of businesses engaged in civil engineering and construction work contracting. The group specialises in repairing and reinforcing public infrastructure, such as bridges and roads. It offers investigation and inspection services, manufactures and sells repair and reinforcement materials, and fulfils repair and reinforcement contracts. The group also manufactures and sells synthetic resin adhesives. Sho-Bond Holdings operates primarily in Japan. | $8 | -- | $2B | $1B | 2.4x | 10.1x | ||
| Seiwa Holdings Co Ltd is focused on the promotion of business succession in the manufacturing sector, and Group management through platformization. | $16 | -- | $298M | $325M | 6.7x | 48.0x | ||
| Median | $15 | +47% | $4B | $5B | 1.2x | 9.3x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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