Insight into Sangetsu
As of December 31, 2019, Sangetsu Corporation holds full ownership of Goodrich Global Holdings Pte Ltd.
Both entities stand as giants within their respective nations in the fields of wallcoverings, flooring materials, and fabrics. Goodrich Global has earned distinguished recognition as a market leader, boasting its expertise in delivering comprehensive interior and architectural solutions, showcased through its array of wallcoverings, flooring materials, and fabrics throughout Asia. Parallelly, Sangetsu Corporation reigns as the pinnacle industry leader in Japan, strategically pursuing robust global expansion through calculated acquisitions.
The collaborative rapport between Sangetsu Corporation and Goodrich Global Holdings spans more than two decades. During this time frame, Sangetsu Corporation has consistently exhibited stability and potential as a steadfast long-term partner. This acquisition, from the vantage point of Sangetsu Corporation, signifies a remarkable opportunity to propel its global business expansion and firmly establish its presence within the expansive distribution network of Asia.
Introduction to Sangetsu Corporation
Sangetsu Corporation (Sangetsu), with its origins tracing back to approximately 1849 during Japan’s Edo Era, emerged as an enterprise involved in the installation of traditional Japanese interior components, such as paper sliding doors, for Nagoya Castle when the Shogunate government still held sway. In short succession, Sangetsu’s scope extended to encompass the wholesale and distribution of materials requisite for these installations.
In 1953, the Hibi Family, the original founders, transitioned Sangetsu from a family-owned venture into a publicly traded company. This transformation culminated in Sangetsu’s listing on the Japanese stock exchange in 1980, propelling it to ascend as the largest interior product company in Japan. Sangetsu’s offerings span a diverse range of interior products, spanning from wallcoverings to flooring materials, fabrics, and even window films. Remarkably, even after its public listing, the Hibi Family continued to oversee Sangetsu’s management until as recently as 2014, when the reins of leadership shifted to Shosuke Yasuda, who assumed the role of CEO.
A pivotal facet of Sangetsu’s strategy revolves around expanding its footprint beyond Japan’s borders. However, the interior product domain tends to be closely linked to localized nuances. Sales and marketing activities are intricately interwoven with the unique histories and experiences of specifiers and customers in each market. Hence, the search for the right partners in promising markets has been a priority for Sangetsu Corporation.
Aligning with this business philosophy, Sangetsu made a significant stride by acquiring Koroseal Interior Products in the preceding year. Koroseal holds a substantial 20-25% share of the contract market’s wallcoverings in the USA, and its subsidiary, Metro, captures a commanding 65% share in Canada.
Alongside its subsidiaries, Sangetsu Corporation engages in the development and distribution of interior decorating products both within China and on an international scale. The company operates an array of showrooms in prominent locations, including Shinagawa, Nagoya, Osaka, Fukuoka, Sendai, Kanazawa, Okayama, Hiroshima, and Okinawa.
