Introducing Sangetsu
As of December 31, 2019, Sangetsu Corporation holds full ownership of Goodrich Global Holdings Pte Ltd.
Both entities are prominent players within their respective nations’ domains, encompassing wallcoverings, flooring materials, and fabric industries. Goodrich Global has established itself as a reputable and esteemed market frontrunner, excelling in delivering interior and architectural solutions encompassing its array of wallcoverings, flooring materials, and fabrics across Asia. Meanwhile, Sangetsu Corporation stands as a pinnacle within the same sector in Japan, and its current trajectory involves swift global expansion facilitated by strategic acquisitions.
The collaborative history between Sangetsu Corporation and Goodrich Global Holdings spans over two decades. Throughout this time, Sangetsu Corporation has consistently demonstrated its stability and potential as a lasting partner. The acquisition serves as a prime opportunity for Sangetsu Corporation to further its global business expansion endeavors and solidify its presence within the distribution network throughout Asia.
Insight into Sangetsu Corporation
Founded during Japan’s Edo Era around 1849, Sangetsu Corporation (Sangetsu) emerged as an enterprise focused on installing traditional Japanese interior products, including paper sliding doors, for Nagoya Castle when the Shogunate government was still in power. In the aftermath, Sangetsu broadened its operational horizons to encompass wholesale and distribution of materials intended for such installations.
In 1953, the Hibi Family, consisting of four brothers, transitioned Sangetsu from a familial enterprise into a publicly traded stock company. This progression led to the company’s listing on the Japanese stock exchange in 1980, ultimately propelling it to the position of Japan’s largest interior product company. Sangetsu’s purview spans an array of interior products, encompassing wallcoverings, flooring materials, fabrics, and window films. Despite its transformation into a publicly traded entity, the Hibi Family retained control over the management of Sangetsu Corporation until as recent as 2014. At that juncture, the last of the Hibi brothers relinquished their active managerial roles, and Shosuke Yasuda took on the mantle of CEO.
A pivotal focus for Sangetsu involves expanding its presence beyond the Japanese borders. However, the interior product industry is notably localized, with sales and marketing intricately linked to the unique histories and experiences of each market’s specifiers and customers. Hence, the search for appropriate partners in appealing markets became imperative for Sangetsu Corporation.
In line with this strategic vision, Sangetsu’s acquisition of Koroseal Interior Products transpired recently. Koroseal holds a considerable market share of 20-25% in wallcoverings for the contract sector in the USA, and its subsidiary, Metro, commands a significant 65% share in Canada.
Sangetsu Corporation, together with its subsidiaries, is dedicated to the development and global sale of interior decorating products, including in China. The company’s reach extends through showrooms in prominent locations such as Shinagawa, Nagoya, Osaka, Fukuoka, Sendai, Kanazawa, Okayama, Hiroshima, and Okinawa.
