Yoshino Gypsum

What Yoshino Gypsum does

Yoshino Gypsum Co., Ltd. (吉野石膏株式会社) is Japan's largest manufacturer of gypsum-based building materials, founded in 1901 in Yamagata Prefecture and headquartered in Tokyo's Marunouchi district. The company is privately held under the Sudo family's ownership since 1937, and reorganized under a holding company (Yoshino Gypsum Holdings Co., Ltd.) in 2020. Its core product, Tiger Board (タイガーボード), launched in 1922 as Japan's first domestically produced gypsum board, holds approximately 80% of the Japanese gypsum board market. The portfolio spans standard and specialty boards (fire-resistant, sound-insulating, formaldehyde-absorbing, magnetic, perforated acoustic, lightweight, waterproof, fire-resistant ceiling, radiation-shielding), exterior structural boards (Tiger EX Board / EX Hyper / EX Progre), recycled-content boards (Tiger R100, R50), complementary products (joint compounds, adhesives, self-leveling floor screeds, plasters), rock wool acoustic panels (Solaton), and glass wool products inherited via the 2015 Asahi Fiber Glass acquisition.

Yoshino Gypsum operates 23 domestic factories supported by 12 sales branches, 17 sales offices, and 65 logistics nodes that enable same-day or next-day delivery under a localized production-for-local-consumption model. Overseas operations comprise PT.YOSHINO INDONESIA in Cikarang (commissioned 2018, annual capacity 30 million m²) and YOSHINO GYPSUM VIETNAM CO., LTD. in Baria Vungtau (commissioned 2021). The Chiba Third Factory operates at the world's highest production standard at 60 million m²/year, and the company's in-house equipment design capability (自家主義) — built on 120+ years of accumulated know-how — underpins both production efficiency and a self-developed comprehensive performance testing center for fire, sound, and structural validation.

Revenue is generated primarily through unit-based hardware sales of gypsum boards and complementary materials via multiple channels: building material agents (mokken route) for residential, direct sales to large housing manufacturers (Tokyo and Osaka), specialty channels (kōji route) serving general contractors, home centers for DIY/small contractors, and direct catalog/sample requests via the company website. End-market mix is approximately 70% residential and 30% non-residential, with products serving fire-resistant structure, quasi-fire-resistant structure, fire-prevention, load-bearing wall, and standard construction methods. FY2025 standalone sales were approximately 153.4 billion JPY (~$1.0B USD); group consolidated revenue including subsidiaries is not separately disclosed but is materially higher given at least 12 operating subsidiaries across Japan, Indonesia, and Vietnam.

Name

Yoshino Gypsum

Legal name

吉野石膏株式会社（Yoshino Gypsum Co.,Ltd.）

Website

https://yoshino-gypsum.com

Company type

Private

Founded year

1901

Operating status

Operating

Headcount range

51–100 employees

Short description

Yoshino Gypsum Co., Ltd. is Japan's largest gypsum board manufacturer, holding ~80% domestic market share since 1922 with Tiger Board, supplying residential, commercial, and infrastructure construction across 23 domestic factories and two overseas plants in Indonesia and Vietnam.

Ownership category

akta.pro rank

Product category

Building Materials

NAICS

Gypsum Product Manufacturing (32742), Lime and Gypsum Product Manufacturing (3274)

SIC

Concrete, Gypsum & Plaster Products (3270)

akta.pro primary industry

Gypsum Board & Drywall Panels (IMADAEAA)

akta.pro secondary industries

Plaster (Gypsum/Lime/Cement) & Basecoat Systems (IMADAEAC), Gypsum Plasters & Specialty Additives/Modifiers (IMADAEAG), Gypsum/Construction Paperboard (Wallboard Liner) Manufacturing (IMAMAFAJ), Gypsum/Drywall Recycling (EUAIAHAG)

Keywords

• Gypsum board products
• Construction materials
• Fire resistant boards
• Building materials manufacturing
• Interior wall boards

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices33 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel

Revenue model

1. 石膏板及建筑材料制造销售: 以石膏板（タイガーボード）为核心的建材产品制造与销售，包括耐火石膏板、耐力面材、吸音板等建筑材料。通过代理店、建材经销商、建筑公司、住宅制造商等渠道销售。
2. 辅助材料及化工产品: パテ（腻子）、GLボンド（粘合剂）、SLプラスター（自流平地板材料）、石膏肥料等其他建材及石膏衍生产品。
3. 工业及牙科用烧石膏: 烧石膏产品用于美术、牙科、陶瓷铸造等工业用途。

Pricing tiers

Distribution channels7 records

Marketing channels10 records

Core offering

Yoshino Gypsum (吉野石膏株式会社) manufactures gypsum board products for the construction and building industry. The company has been producing gypsum-based building materials since its founding in 1901 in Japan.

Product overview

Yoshino Gypsum Co., Ltd. is a leading Japanese manufacturer of gypsum-based building materials with over 120 years of history since its founding in 1901. The company's core product line is the 'Tiger Board' (タイガーボード) series, which dominates Japan's domestic gypsum board market with over 80% share. The product portfolio is organized around three pillars: (1) Core gypsum board products including standard Tiger Board, specialty boards like High Clean Board (formaldehyde absorbing), Fe Board (magnetic), and Square Tone (acoustic); (2) Structural products for exterior and interior applications including EX Progre and EX Hyper for exterior walls, and Hyper Hard T Next for interior structural walls; and (3) Eco products including Tiger R100 (100% recycled) and Tiger R50 (50% recycled). Supporting products include joint compounds (Tiger Pate, Strong V), adhesives (GL Bond), plasters (YN Plaster, SL Plaster), and acoustic panels (Solaton rock wool series). The company also offers complete fire-resistant and sound-insulating wall systems, and acquired exterior cement board (Delacret) and slag gypsum board (Asnon) product lines. Recent innovations focus on environmental sustainability with recycled-content products and high-performance specialty boards for specific applications like radiation shielding.

Differentiator

Problem solved

Functional benefit

Brands

• タイガーボード（Tiger Board）: 主力製品である石膏ボード。住宅用が75%、ビル用が20%、工業用が5%。国内シェア約80%。
• タイガーハイクリンボード
• タイガーEXボード/タイガーEXハイパー/タイガーEXプログレ
• タイガースクエアトーン
• タイガーFeボード
• タイガージプトーン
• タイガーR100/タイガーR50
• YNプラスター
• SLプラスター
• タイガーパテ
• ソーラトン
• デラクリート
• アスノン

Products and services

• Gypsum board products Gypsum-based boards manufactured for construction and interior building applications, serving the Japanese construction industry.

Quantifiable outcome

• 石膏板国内市场份额约80%
• +7 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

13 partnerships are on record, tiered core and minor.

• 旭ファイバーグラス株式会社coreStrategic or Co-development Partner · 1 January 20152015年吉野石膏将玻璃棉制造公司旭ファイバーグラス纳入集团，负责制造玻璃棉和各种玻璃纤维产品。旭ファイバーグラス九州工厂在碳中和方面积极推进（2024年3月新闻）。
• 东京大学coreStrategic or Co-development Partner · 1 January 2014与东京大学进行共同研究，积极参与官公厅主办或参与的研究会等，推进新技术开发。
• 日东纺织绩株式会社（日東紡績株式会社）coreStrategic or Co-development Partner · 1 September 20112011年9月吉野石膏从日东纺织绩继承ロックウール化妆吸音板「ソーラトン」的生产销售事业，在千叶袖浦建设新工厂。是吉野石膏从内壁材向吸音领域扩展的重要战略合作。
• 三菱Rayon株式会社（三菱レイヨン株式会社）coreStrategic or Co-development Partner · 1 March 20102010年3月吉野石膏从三菱Rayon获得外内壁材「デラクリート」的进口销售权，正式进入外壁材市场，是外壁事业战略的核心部分。
• 东北电力株式会社minorStrategic or Co-development Partner · 1 January 19921992年与东北电力株式会社共同出资设立能代吉野石膏株式会社，推进排脱石膏的有效利用。
• 株式会社吉野石膏DDセンターcoreStrategic or Co-development Partner · 1 January 19841984年成立的需求开发中心，负责市场需求开拓和组织性设计介入活动，是吉野石膏销售战略的核心。
• 三菱金属株式会社minorStrategic or Co-development Partner · 1 January 19731973年与三菱金属株式会社共同出资设立直岛吉野石膏株式会社。
• 小名浜制錬株式会社minorStrategic or Co-development Partner · 1 January 19711971年与小名浜制錬株式会社共同出资设立小名浜吉野石膏株式会社。
• 株式会社サン化学minorStrategic or Co-development Partner · 1 January 19701970年与株式会社サン化学共同设立利用副产品石膏的新工厂，推进副产品石膏的有效利用。
• 住友金属矿山株式会社minorStrategic or Co-development Partner · 1 January 19631963年与住友金属矿山株式会社共同出资设立住矿吉野石膏株式会社北海道Board工厂（1969年成为北海道吉野石膏株式会社）。
• 三菱化成株式会社minorStrategic or Co-development Partner · 1 January 19631959年与东北肥料株式会社合作设立东北吉野石膏株式会社（秋田工厂），1960年获得三菱化成株式会社的资本参与后更名为菱化吉野石膏株式会社。
• 中央硝子株式会社minorStrategic or Co-development Partner · 1 January 19621962年与中央硝子株式会社共同出资设立宇部吉野石膏株式会社，进行石膏板生产。
• 高砂製紙株式会社coreStrategic or Co-development Partner · 1 January 19561956年高砂製紙成为吉野石膏集团旗下，专业生产石膏板用原纸，是集团内垂直整合的关键环节。

Scale indicators13 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Chiyoda Ute Co., Ltd. Japan's #2 gypsum board manufacturer, offering competing products such as 'Chiyoda Board' and 'Tiger alternatives' in the domestic market. Directly comparable because it sells gypsum drywall panels through the same Japanese homebuilder and dealer channels, with similar product categorization and JIS-grade certification.

Broad incumbents

• Knauf Gips KG: German family-owned global leader in gypsum-based building materials with worldwide manufacturing of drywall, plasters, and ceiling systems. Comparable as a direct substitute supplier with much larger international scale, including a presence in Asia that could compete with Yoshino's SE Asia build-out.
• Saint-Gobain (CertainTeed Gypsum): French multinational building materials group; acquired BPB plc (the British plaster board leader that had a 1993 technology agreement with Yoshino) and operates CertainTeed Gypsum in North America. Overlaps directly in gypsum board, plasters, and ceiling systems on a global basis.
• Boral Limited (now part of Suncorp / Boral Materials): Australian building materials and gypsum producer with historical SE Asian exposure; CSR (later Boral) signed a 1979 technology cooperation with Yoshino. Overlaps in gypsum board and plaster products across APAC markets.
• USG Corporation (now USG Boral / Knauf USG): American gypsum board and ceilings manufacturer and inventor of modern drywall systems. USG developed the 'Delacret' fiber cement board whose Japan distribution rights Yoshino acquired in 2010. Comparable in drywall, specialty boards, and ceiling systems, and historically Yoshino's technology partner.
• National Gypsum Company: Major U.S. gypsum board producer with a 1977 technical cooperation agreement with Yoshino Gypsum. Comparable as a gypsum board and specialty panel manufacturer with overlapping product lines (fire-rated, mold-resistant, soundproof).
• Georgia-Pacific Gypsum: U.S. subsidiary of Koch Industries producing DensGlass, DensArmor, and ToughRock gypsum panels. Comparable as a large-scale gypsum board manufacturer focused on specialty fire-, moisture-, and abuse-resistant products.
• Siniat (Etex Group): European gypsum specialist under Belgium's Etex, manufacturing drywall and plaster boards across Europe, Latin America, and Africa. Comparable as a global gypsum board producer serving residential and commercial construction.

Emerging players

• Taishan Gypsum Co., Ltd. (CNBM): China's largest gypsum board producer and a subsidiary of CNBM. Comparable as a large-volume, low-cost gypsum board manufacturer; relevant to Yoshino because it competes on cost in Asian export markets and was historically involved in the U.S. drywall import-quality issues.
• BNBM (China National Building Material / BNBM Gypsum): Chinese state-affiliated gypsum board giant with rapidly expanding capacity and global ambitions. Relevant as a low-cost Asian competitor in the same product category that could put pressure on Yoshino's SE Asia pricing and project specifications.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@YoshinoGypsum
• Instagraminstagram.com/yoshino.gypsum

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yoshino Gypsum