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Japanese maker of precision polishing abrasives and CMP slurry used to planarize semiconductor wafers.
Japanese maker of precision polishing abrasives and CMP slurry used to planarize semiconductor wafers.
Slurries and polishing compounds are consumed with every wafer polished, so sales rise and fall with fab output rather than equipment orders, and a qualified product usually stays in a process for years.
In one line: A CMP-slurry niche supplier, like a smaller CMC Materials.
Moat: narrow (process know-how, customer qualification). CMP slurry formulations are qualified into fab process nodes; switching risks yield loss.
Headquarters: Kiyosu, Japan · Founded: 1949 · Employees: 1,305
Size Fujimi (5384.T) is a Japan Materials company (Industrial Specialties) with a market value of $1.28B, the 631st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,647 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -7.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 13.1% over the last twelve months (peer median +7.7%); the operating margin is 20.9% (peer median 10.8%).
Valuation It trades at 15.6× forward earnings against a peer median of 17.6× (8th cheapest of 15).
Capital Return on invested capital runs 1.6 points above its cost of capital (12.2% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥72.5B | ¥69.4B | ¥62.5B | ¥51.4B | ¥58.4B |
| Revenue growth | — | +11% | +22% | -12% | — |
| Gross profit | ¥33.2B | ¥30.0B | ¥26.3B | ¥21.2B | ¥26.3B |
| EBITDA | ¥17.7B | ¥16.2B | ¥13.8B | ¥10.3B | ¥15.0B |
| Net income | ¥10.6B | ¥9.06B | ¥9.43B | ¥6.50B | ¥10.6B |
| Free cash flow | n/a | -¥8.66B | ¥413M | ¥3.77B | ¥5.63B |
| Capital expenditure | n/a | ¥22.2B | ¥12.8B | ¥3.74B | ¥1.76B |
| Total debt | ¥17.0B | ¥18.3B | ¥494M | ¥291M | ¥352M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Fujimi 5384.T | $1.28B | -18% | +13% | 21% | 15.6× | n/a |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 5384.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.3% | -9.4% | 3rd lowest of 21 |
| 6-month return | -17.7% | -7.4% | 7th lowest of 21 |
| Distance from 52-week high | -48.0% | -24.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +13.1% | +7.7% | 9th highest of 21 |
| Operating margin | 20.9% | 10.8% | 3rd highest of 21 |
| Forward P/E | 15.6× | 17.6× | 8th cheapest of 15 |
| ROIC minus cost of capital | +1.6 pp | +3.7 pp | 9th lowest of 21 |
| EV / EBITDA | 10.9× | 10.9× | 7th cheapest of 13 |
| Net debt / EBITDA | -0.6× | -1.6× | 5th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fujimi 5384.T | Japan | $1.28B | -18% | +13% | 21% | 15.6× | n/a | n/a |
| Solar Applied Materials Technology 1785.TWO | Taiwan | $1.30B | -55% | +54% | 10% | n/a | -0.2% | +8.1% |
| Nihon Parkerizing 4095.T | Japan | $1.26B | +16% | +5% | 12% | n/a | -1.6% | +6.7% |
| artience 4634.T | Japan | $1.25B | +18% | +7% | 6% | 9.3× | -3.9% | +6.3% |
| JSW Dulux JSWDULUX.NS | India | $1.31B | +3% | -5% | 11% | 30.9× | n/a | n/a |
| Sinosteel Engineering & Technology 000928.SZ | China | $1.22B | -13% | +4% | 5% | 11.9× | -15.6% | -1.3% |
| Supreme Petrochem SPLPETRO.NS | India | $1.38B | -6% | +21% | 11% | 22.1× | 10.1% | +11.1% |
| Yangling Metron New Material 300861.SZ | China | $1.39B | -31% | +23% | 16% | 21.1× | 9.6% | +12.5% |
| PCBL Chemical PCBL.NS | India | $1.16B | -8% | +6% | 8% | 23.5× | 27.6% | +25.1% |
| Xinjiang Xuefeng Sci-Tech (Group) 603227.SS | China | $1.14B | -17% | -8% | 12% | 10.3× | -7.6% | +22.0% |
| Luxin Venture Capital 600783.SS | China | $1.45B | -40% | +24% | -50% | n/a | 40.2% | -6.1% |
| Graphite India GRAPHITE.NS | India | $1.50B | 0% | +22% | 9% | 21.8× | n/a | n/a |
| C. Uyemura & 4966.T | Japan | $1.54B | -34% | +16% | 23% | 14.0× | 5.0% | +10.4% |
| Suzhou Kingswood Education Technology 300192.SZ | China | $1.55B | +24% | -6% | 12% | 59.3× | 44.2% | -2.3% |
| Nitta 5186.T | Japan | $1.05B | +36% | +5% | 7% | 10.8× | 10.6% | +3.1% |
| Xinjiang Tianye 600075.SS | China | $1.04B | -41% | -10% | -3% | n/a | n/a | n/a |
| SK Kaken 4628.T | Japan | $1.04B | +2% | +9% | 13% | n/a | -19.4% | +5.2% |
| Chugoku Marine Paints,Ltd 4617.T | Japan | $1.04B | +4% | +10% | 13% | 12.8× | 0.0% | +11.1% |
| Intco Recycling Resources 688087.SS | China | $1.01B | -25% | +29% | 12% | 22.0× | 0.5% | +15.8% |
| ZJMI Environmental Energy 603071.SS | China | $1.00B | -15% | -4% | 3% | 9.2× | n/a | n/a |
| ELANTAS Beck India ELANTAS.NS | India | $999M | +23% | +19% | 21% | n/a | 32.4% | +17.2% |