Innovex

What Innovex does

Innovex Co., Ltd. (株式会社イノベックス) is a Japanese specialty plastics manufacturer established in February 2013 and operating as a subsidiary of Wavelock Holdings Co., Ltd. The company processes plastic secondary products—nets, sheets, films, and meshes—across six business segments: Building Solution (construction temporary sheets and partition curtains, where it claims top-class domestic share), Industrial Development & Sales (filters, screen mesh, fire-resistant sheets, road marking materials), Agri Solution (insect nets, shade nets, covering materials), Living Solution (window screen nets, where it is an industry pioneer), Packaging Solution (food packaging and eco-friendly materials), and Geothermal Transformation (the proprietary Sarchess® geothermal HVAC system and the Heat Cluster renewable energy platform). Underlying technology centers on multi-resin processing capability (PP, PE, PS, PVC) combined with proprietary geothermal heat exchange architecture using stable underground temperatures (~15°C) and high-efficiency heat pumps; the Sarchess® trademark is registered. The company holds domestic top market share in replacement insect nets for screens and serves over 800 client companies.

Innovex generates revenue through a hybrid B2B/B2C model: direct enterprise sales of custom-manufactured plastics and bespoke geothermal system installations (with multi-year maintenance) constitute the primary revenue stream, complemented by consumer e-commerce storefronts (Dio e-Shop) on Rakuten and Yahoo Shopping for standard products. Pricing is not publicly disclosed; bespoke quotations are provided via inquiry for custom meshes, sheets, and packaging, while consumer products are sold at retail prices online. Distribution combines domestic factory production for quality assurance with overseas bases for flexible raw material procurement and global responsiveness. The go-to-market motion is sales-led, with sales representatives handling product inquiries and custom specifications, supported by content marketing (educational columns on geothermal ROI), PR Times news releases, industry trade show participation (GPEC, RISCON TOKYO), and customer case studies.

The company is privately held, with no public ticker on the primary Japanese entity; however, an international subsidiary, Innovex International Inc., has institutional shareholders (Intervale Capital Fund, Innovex Co-Invest Fund) that executed a ~$162.6 million secondary share sale in February 2026. Leadership is headed by President and Representative Director Ishihara Tomonori, with a representative director change disclosed in January 2025. Recent inorganic activity includes the April 2025 acquisition of Mine Company to bolster sheet-related development, and the company is recognized as a Health Management Excellence Corporation (2025, 2026) under the SME category by Japan's Ministry of Economy, Trade and Industry.

Name

Innovex

Legal name

株式会社イノベックス (Innovex Co., Ltd.)

Website

https://innovex-w.co.jp

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

Innovex is a Japanese plastic materials manufacturer operating across six business segments—building, agricultural, industrial, living, packaging, and geothermal energy systems—serving over 800 enterprise and consumer clients with proprietary Sarchess® geothermal technology and custom multi-resin processing capabilities.

Ownership category

akta.pro rank

Headquarters

HQ city

Akashicho

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Plastic Materials Sales: Sale of plastic secondary processed products including nets, sheets, films, and meshes for industrial, agricultural, construction, and residential applications. One-time product sales with potential repeat orders from 800+ client companies.
2. Geothermal System (Sarchess®) Installation: Design, supply, and installation of geothermal heat pump systems for buildings and facilities. Includes ongoing maintenance services for installed systems.
3. Custom Manufacturing Services: Custom product development and manufacturing for special-specification meshes, nets, and sheets based on customer requirements. Filter meshes produced to order as consignment manufacturing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Innovex is a Japanese plastic secondary processing manufacturer that designs, produces, and sells industrial netting, sheets, films, and meshes across six business segments: Building, Industrial, Agricultural, Living, Packaging, and Geothermal Transformation. Its signature offerings include the Sarchess® geothermal heat pump system for HVAC and hot water supply and the Heat Cluster renewable energy platform, alongside custom-manufactured specialty meshes and sustainable products such as PET-bottle-cap-derived monofilament. The company serves 800+ client companies primarily through direct enterprise sales, with consumer reach via its Dio e-Shop on Rakuten and Yahoo Shopping.

Product overview

Innovex is a plastic materials manufacturer offering a diversified portfolio of six business segments: (1) Building Solution - construction temporary sheets and partition curtains with top-class market share; (2) Industrial Development & Sales - filters, screen mesh, and road marking materials; (3) Agri Solution - agricultural materials including insect nets, shading nets, and covering materials; (4) Living Solution - screen door nets (industry pioneer) and gardening materials; (5) Packaging Solution - food packaging and environmentally friendly materials; and (6) Geothermal Transformation - renewable energy systems utilizing underground heat. Core products include Sarchess® geothermal energy systems for space heating/cooling/hot water supply, and Heat Cluster renewable energy systems. The company holds domestic top market share for replacement insect screen nets and serves over 800 client companies.

Differentiator

Problem solved

Functional benefit

Brands

• サーチェス® (Sarchess®): Geothermal energy system brand for space heating, cooling, and hot water supply
• ヒートクラスター (Heat Cluster)
• ダイオネオシェード (Dio Neo Shade)
• タフニール (Toughneel)
• ウォーターセーフ (Water Safe)
• ダイオeショップ (Dio e-Shop)

Products and services

• Sarchess® Geothermal Energy System (サーチェス®) Geothermal energy system utilizing stable underground temperature (approximately 15°C year-round) for space heating, cooling, and hot water supply. Features underground pipe networks for heat exchange and high-efficiency heat pump technology. Designed for building owners and facility operators seeking renewable energy HVAC with an investment recovery period of approximately 5.8 years.
• Heat Cluster Renewable Energy System (ヒートクラスター) Renewable energy system for cost reduction and business expansion support, utilizing underground heat and unused thermal energy through heat cluster technology. Geared toward commercial buildings, agricultural facilities, and industrial operations seeking to decarbonize heating and cooling.
• Building Solution (ビルディングソリューション) Construction site temporary sheets, partition curtains for factories and warehouses, holding top-class market share in construction temporary materials. Provides optimal material and product proposals based on extensive track record and knowledge, serving construction firms and property developers across Japan.
• Industrial Development & Sales (インダストリアル デベロップメント＆セールス) Custom R&D and supply of filters, screen meshes, high-transparency nonflammable sheets, and road marking materials. Special-specification meshes, nets, and sheets developed to customer requirements for industrial manufacturers and printing companies.
• Agri Solution (アグリソリューション) Agricultural materials including insect nets, shading nets, ground sheets, covering materials, and high-performance heat-reflective agricultural materials. Pioneer in agricultural netting materials with broad product lineup matching varied conditions for crop yield improvement.
• Living Solution (リビングソリューション) Screen nets for windows (industry pioneer), gardening materials, with product range from professional to general household use. Available through Dio e-Shop on Rakuten and Yahoo Shopping for consumer and SMB purchases.
• Packaging Solution (パッケージングソリューション) Food packaging and packaging materials, offering environmentally friendly package materials with reduced equipment investment requirements and original design proposals including molding and processing for desired functionality and specifications.
• Water Safe Vehicle Flood Prevention Cover (ウォーターセーフ / ウォーターセーフ・ポートタイプ) Vehicle flooding prevention cover products including the standard Water Safe and Port Type variants. Designed to protect vehicles from flood damage, recognized by the Cabinet Secretariat for disaster prevention contribution.
• Monofilament from PET Bottle Caps Eco-friendly monofilament material developed through cross-industry collaboration, using PET bottle caps as raw material. Demonstrates sustainable product development and circular economy practices.

Quantifiable outcome

• Investment recovery period approximately 5.8 years for geothermal systems
• +1 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Partnership Building Declaration (パートナーシップ構築宣言)coreStrategic or Co-development Partner · 1 March 2026Official declaration published March 2026 as part of the Cabinet Office and SME Agency's 'Future-creating Partnership Building Council'. Aims to create new partnerships through collaboration with value chain partners for sustainable coexistence and co-prosperity.
• Cross-industry PET Bottle Cap Monofilament Development PartnersminorStrategic or Co-development Partner · 18 September 2025Collaboration with two other companies to develop monofilament using PET bottle caps as raw material. Announced via PR Times, demonstrating cross-industry sustainable product development.
• Júbilo Iwata (ジュビロ磐田)minorGTM or Marketing Partner · 9 April 2025Club partner contract for J-League soccer team. Marketing partnership for regional brand visibility and community engagement.
• Wavelock Holdings (ウェーブロックホールディングス)coreOthersParent company of Innovex. Innovex is a subsidiary operating under the Wavelock Holdings group. Privacy policy and company information reference Wavelock Holdings as the parent entity with consolidated management.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Berry Global Group: Large plastic products and packaging manufacturer. Closely comparable to Innovex in plastic films, sheets, and converted products, with overlapping industrial and consumer end markets.
• Sekisui Chemical Co., Ltd. Japanese diversified materials manufacturer with plastics, housing, and environmental infrastructure lines. Comparable in being a Japan-based multi-segment materials company with sustainability exposure.
• Kuraray Co., Ltd. Japanese specialty chemicals and plastics producer with films, sheets, and packaging materials. Comparable product portfolio in industrial films and packaging, serving similar B2B customers in Japan.
• Sealed Air Corporation: Global packaging and food-protection company. Comparable to Innovex's Packaging Solution and food-packaging business in materials technology, customer base, and focus on shelf-life and sustainability outcomes.

Emerging players

• Toppan Holdings Inc. Japanese packaging and printing group. Overlaps with Innovex's Packaging Solution and screen-mesh/printing-related industrial products, though with a much larger printing and communications footprint.
• Kureha Corporation: Japanese specialty plastics and chemicals company. Comparable in specialty plastic films, sheets, and industrial materials, with a smaller product portfolio than Innovex but similar B2B Japanese customer base.
• Daikin Industries, Ltd. Global leader in HVAC and heat-pump technology. Comparable only to Innovex's Sarchess® geothermal HVAC business, which is a much smaller niche within Daikin's broader climate-control franchise.

Broad incumbents

• Mitsubishi Chemical Group: Large Japanese chemicals and materials conglomerate. Comparable in providing a broad portfolio of plastics, films, and industrial materials, though at a far larger scale and broader industry scope than Innovex.
• Teijin Limited: Japanese materials and chemicals group with plastics, films, and fibers. Comparable in industrial plastics processing and specialty materials serving Japanese manufacturers.
• Asahi Kasei Corporation: Diversified Japanese materials company with plastics, chemicals, and building products. Overlaps with Innovex in plastic films, sheets, and building materials but operates across far more verticals.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCMrlmnE0dyDXPMVmyVIWBew
• Facebookfacebook.com/diokasei
• LinkedInlinkedin.com/company/innovex-co-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Innovex