Hokoku

What Hokoku does

Hokoku (豊国製油株式会社) is a privately held Japanese specialty chemical manufacturer founded in 1951 and headquartered in Yao, Osaka Prefecture. The company specializes in castor oil-based chemical derivatives, operating four core product lines: refined castor oil, sebacic acid, polyester polyols (including plant-derived bio-based grades), and alpha-olefin derivatives marketed under the HS Crystal / HS Dimer brand. These products serve as functional raw materials in industrial B2B applications including adhesives, coatings, surfactants, and cosmetics. The company was the first Japanese plant oil manufacturer to obtain ISO 9002 certification (1994) and ISO 14000 certification (2000).

Hokoku operates three facilities: its headquarters and main plant in Yao, the Mie Factory in Tsu (which underwent Phase 4 expansion around 2020), and commercial sales offices in Osaka (opened 2022) and Tokyo. The business model is B2B specialty chemical supply to industrial formulators, with sales routed primarily through Japanese trading company distribution channels. As of March 2025, the company employed 105 staff with an average tenure of 16 years 4 months, indicating a stable, long-tenured workforce. Registered capital stands at ¥92 million, unchanged since 1996, reflecting a deliberately conservative capital structure typical of multi-generational Japanese chemical SMEs.

The company is family-owned and currently in its fourth generation under the Imagawa family. In December 2025, Imagawa Kazuhiro was appointed President, formalizing the latest generational transition. Strategic milestones include the 2013 acquisition of the HS Crystal (HS Dimer) business from Idemitsu Kosan—which added an established alpha-olefin derivative product line and customer base—and subsequent product extensions (HS Crystal-6100, HS Crystal-7100 in 2014). Recent commercial activity has emphasized the bio-based polyester polyol line, with active trade show participation at Chemical Material Japan in 2024 and 2025 targeting industrial ESG-conscious customers.

Name

Hokoku

Legal name

豊国製油株式会社

Website

https://www.hokoku-corp.co.jp

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

101–250 employees

Short description

Hokoku (豊国製油株式会社) is a fourth-generation Japanese specialty chemical manufacturer producing castor oil derivatives—refined castor oil, sebacic acid, polyester polyols, and alpha-olefin derivatives—for industrial B2B customers in adhesives, coatings, surfactants, and cosmetics. Headquartered in Yao with 105 employees.

Ownership category

akta.pro rank

Product category

Specialty Chemicals

NAICS

Fats and Oils Refining and Blending (311225), Soybean and Other Oilseed Processing (311224), Petrochemical Manufacturing (325110)

SIC

Fats & Oils (2070), Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800)

akta.pro primary industry

Specialty & Tropical Oils Processing (Avocado, Sesame, Peanut, Rice Bran, Grapeseed) (AFAKAEAE)

akta.pro secondary industries

Fats, Oils & Lipid Ingredients (Specialty Oils, MCTs, Structured Lipids) (CRADAOAL), High-Oleic & Specialty Oilseed Oils (AFAJALAC)

Keywords

• Castor oil processing
• Sebacic acid production
• Polyester polyol manufacturing
• Fine chemical derivatives
• Industrial specialty chemicals

Headquarters

HQ city

Yao

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Fine Chemical Products Manufacturing and Sales: Manufacturing and selling of castor oil and its derivatives including refined castor oil, dehydrated castor oil, sebacic acid and its esters, polyester polyols, and alpha-olefin derivatives to industrial customers in adhesives, coatings, surfactants, cosmetics, and other sectors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Hokoku manufactures and sells castor oil and its derivatives, including refined and deodorized castor oil, castor oil fatty acids, dehydrated castor oil, castor oil polyols, sebacic acid and its diesters, polyester polyols, and alpha-olefin derivatives. The company produces these specialty chemical materials at its Osaka headquarters factory and Mie Factory, supplying them to industrial manufacturers of adhesives, coatings, surfactants, metal working oils, synthetic fibers, cosmetics, and electronic materials.

Product overview

Hokoku (豊国製油株式会社) is a fine chemicals manufacturer specializing in castor oil and its derivatives. The company operates as a unified manufacturer offering four interconnected product lines: (1) Castor Oil Products including industrial-grade, refined, and deodorized-refined castor oils along with derivatives such as castor oil fatty acids, polymerized fatty acids, dehydrated castor oil, and castor oil polyols for urethane applications; (2) Sebacic Acid Products including sebacic acid, 1,10-decanediol, and various diesters (DOS, DBS, DES, DIPS, DMS) plus hindered amine light stabilizers (HS Ester 292, HS Ester 765); (3) Polyester Polyol Products including the HS Series for hot-melt adhesives and water-based urethanes, the HS 2N Series for flexible elastomers and UV-curable resins, the made-to-order HOKOKUOL Series for general-purpose adhesives, and made-to-order bio-polyester polyols from 100% plant-derived materials; (4) α-Olefin Derivative Products including HS Dimer A-20 and A-20P for viscosity reduction and solvent applications. These products serve industries including adhesives, coatings, surfactants, metal working fluids, synthetic leather, cosmetics, and electronics materials.

Differentiator

Problem solved

Functional benefit

Products and services

• Castor Oil Products (ヒマシ油製品) A family of castor oil products including industrial-grade castor oil, refined castor oil (R), deodorized refined castor oil (DR), castor oil fatty acid (CO-FA), polymerized castor oil fatty acids (HSC-32, HSC-47, HSC-95), dehydrated castor oil (DCO), dehydrated castor oil fatty acid (DCO-FA), and castor oil polyols (TLM, LM-R, ELA-DR, and HS series). These serve adhesives, coatings, surfactants, metal working fluids, urethane formulations, and cosmetics manufacturers.
• Sebacic Acid Products (セバシン酸製品) A family of sebacic acid and sebacic acid derivative products including sebacic acid itself (straight-chain dicarboxylic acid), 1,10-decanediol, and diesters (Dioctyl Sebacate/DOS, Dibutyl Sebacate/DBS, Diethyl Sebacate/DES, Diisopropyl Sebacate/DIPS, Dimethyl Sebacate/DMS) plus hindered amine light stabilizers (HS Ester 292, HS Ester 765). Used for nylon resins, polyesters, plasticizers, cold-resistant applications, and coating additives.
• Polyester Polyol Products (ポリエステルポリオール製品) A comprehensive line of polyester polyols including the HS Series (HS 2H, HS 2F grades) for hot-melt adhesives and synthetic leather coatings, the HS 2N Series for flexible elastomers and UV-curable resins, the made-to-order HOKOKUOL Series (HT-110, HT-210, HT-250) for water-based urethanes and general-purpose adhesives, and made-to-order bio-polyester polyols (HS 2P-103S, HS 2P-203S) using 100% plant-derived materials.
• HS Dimer Alpha-Olefin Derivatives (αオレフィン誘導体) Higher alpha-olefin compounds with carbon number 20+ (HS Dimer A-20 with C20 >98%; HS Dimer A-20P with C20 >90%, C30+ <10%), featuring low volatility, low viscosity, low odor, high transparency, and no VOC as defined by WHO. Used as viscosity reducers and solvents for adhesives, sealants, inks, coatings, and as raw materials for additives and surfactants.

Named customers7 records

Segments1 record

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Idemitsu Kosan (出光興産)minorOthersHokoku took over manufacturing and sales of 'HS Crystal' and 'HS Dimer' products from Idemitsu Kosan in July 2013. These products continue to be sourced from Idemitsu Kosan's technology and materials, with Hokoku handling domestic manufacturing and sales.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ITOH OIL CHEMICALS: Japanese specialty chemical manufacturer focused on castor oil and its derivatives, including fatty acids, dehydrated castor oil, and sebacic acid. Closest domestic competitor with overlapping product portfolio and customer base in adhesives, coatings, and industrial applications.
• Jayant Agro-Organics: India-based leading global producer of castor oil and its derivatives including sebacic acid, undecylenic acid, and specialty polyols. Vertically integrated from castor seed crushing to derivatives and a key direct competitor in castor-derived fine chemicals.
• Thai Castor Oil Industries: Thailand-headquartered processor and exporter of castor oil and derivatives. Competes with Hokoku in industrial-grade and refined castor oil for Asian industrial customers.
• Vertellus: US-based specialty chemical producer of sebacic acid, castor oil derivatives, and intermediates for lubricants, plastics, and personal care. Directly competes with Hokoku in sebacic acid and castor derivative markets.

Broad incumbents

• Croda International: UK-listed global specialty chemicals company with a large portfolio of bio-based ingredients including castor-derived materials for personal care, coatings, and polymer additives. Much larger scale but overlapping in castor/sebacic chemistry.
• Arkema: French-headquartered global specialty chemicals major with a castor & derivatives platform including sebacic acid and bio-based polyamides. Larger scale, broader portfolio, and global customer reach than Hokoku.
• Adani Wilmar: India-based large diversified edible oils and oleochemicals company with castor oil processing operations. Massive scale advantage in castor seed sourcing and oil production that competes with Hokoku on raw material availability.
• BASF: World's largest chemical company with extensive specialty intermediates including sebacic acid and polyols used in plastics, coatings, and lubricants. Overlaps with Hokoku's sebacic acid and polyester polyol offerings at much greater scale.
• Kuraray: Japanese specialty chemicals company producing polyester polyols, hot-melt adhesives, and urethane materials. Domestic incumbent that overlaps with Hokoku's HS Series polyester polyol portfolio and shares Japanese industrial customers.

Emerging players

• Stepan Company: US-listed specialty chemical manufacturer producing surfactants, polymers, and specialty products including castor-oil-based derivatives. Partial product overlap with Hokoku's surfactant and metal working fluid inputs.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

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 Hokoku