From the Founding to the Birth of SHO-BOND

On June 4, 1958, the company was established and registered as Showa Kogyo Corporation in Setagaya-ku, Tokyo. The founder, Akira Ueda, was 31 years old back then.

At its inception, the company primarily focused on rigid PVC processing and piping work. In 1959, the use of epoxy resin in PVC board's inner lining work for the crack repair of the Yakuwa Dam had a rapid and effective performance. Impressed by that, an epoxy-resin-based high-performance adhesive (equivalent to today’s #101 epoxy resin) was developed in September 1959. Following this success, another epoxy resin designed for various applications was developed and branded as SHO-BOND®, with production commencing in November of the same year.

In 1960, our head office was moved to Chiyoda-ku, Tokyo, and we commenced selling and installing SHO-BOND epoxy resin at construction sites. To make it easier for the civil engineering and construction industry to apply epoxy resin, the blending ratio of the main agent and the curing agent was made an integer. Then, our synthetic resin adhesives became widely used at construction sites.

Toward a Technology-oriented Organization

The company was renamed SHO-BOND Co., Ltd. in June 1963. It then obtained a construction business license from the Governor of Tokyo to establish its construction contracting system while developing new products and construction methods to further apply polymer materials to the civil engineering and construction sector.

During the summer of 1964, the Niigata earthquake struck and the newly completed Showa Ohashi Bridge collapsed, resulting in countless cracks on the deck slabs. At that time, experiments on our novel concrete repair materials were conducted at the Public Works Research Institute of the Ministry of Construction. These materials were subsequently adopted for the repair and restoration work of the Showa Ohashi Bridge, culminating in successful completion by the winter of that year. Showa Ohashi Bridge restoration marked a pivotal event that shaped the trajectory of SHO-BOND. 50 years after the work, follow-up surveys confirmed the sustained strength of the bridge.

In March 1965, the jointly developed and patented road bridge expansion device CUT OFF JOINT with the Japan Highway Public Corporation was installed between Ichinomiya and Komaki on the Meishin Expressway for the first time. Along with the wave of expressway construction, the joint device was installed all over Japan.

In February 1969, the company obtained a construction business license from the Minister of Construction. As a special construction company specializing in repairs, we gradually expanded our sales offices nationwide.

The construction projects associated with the Osaka Expo brought about a significant change in the scale of our company. During this period, our capital increased substantially, rising from 105 million yen in 1970 to 200 million yen by 1973.

Birth of SHO-BOND CORPORATION

In 1975, SHO-BOND Co., Ltd. underwent a restructuring, resulting in the creation of SHO-BOND CORPORATION and SHO-BOND Chemical. This strategic move delineated a clear path for growth as a specialized construction company.

During that period, the global economy was grappling with a recession sparked by the first oil shock. Despite such challenging circumstances, we consistently improved our business performance. By the end of the fiscal year in December 1975, our recorded sales reached 8.3 billion yen, marking the highest performance since our establishment. Furthermore, in the fiscal year ending in June 1977, the first fiscal year following the change in the closing date to the end of June, our sales surpassed 10.0 billion yen for the first time, reaching a net sales figure of 10.7 billion yen.

In July 1977, the Central Technical Research Institute relocated to Omiya City (now Saitama City). This move facilitated the fusion between civil engineering and chemical technology, driving advancements in products and construction methods, thus propelling growth as a technology-oriented company. Subsequently, the company diversified its technological endeavours, including the import and sale of Swiss-made pipe couplings and the development of novel construction methods. Notably, during the Japan–U. S. joint seismic testing conducted at the Building Research Institute of the Ministry of Construction, the BICS METHOD for repairing cracks in concrete shear walls garnered high praise.

Sales surpassed 15.0 billion yen for the first time in FY 1981, then again in FY 1982.

The Arrival of the Repair Era

Around the 1980s, there was a notable increase in damage to bridge deck slabs and other road structures, constructed on a crash basis during the high economic growth period (from 1955 to 1974). This trend marked the onset of the repair era in civil engineering and construction. As the repair era emerged, general contractors and bridge manufacturers established specialized repair subsidiaries, entering the market. We competed with these new entrants, leveraging our unique know-how and extensive experience in the field.

In 1986, the Japanese government initiated a policy of expanding domestic demand, implementing measures such as early ordering and supplementary budgets for the construction industry. Responding to this shift, we increased our presence in the repair market as a comprehensive maintenance company for concrete structures. In FY1985, sales exceeded 20.0 billion yen for the first time, and in the following fiscal year, FY1986, sales reached 22.8 billion yen.

Great Leaps Forward Driven by the Stock Listing

In May 1987, the company was listed on the Second Section of the Tokyo Stock Exchange, with sales reaching 25.3 billion yen for FY1987. The following year, coinciding with the company's 30th anniversary, SHO-BOND evolved into a medium-sized enterprise, experiencing growth in both capital and the number of employees. Fueled by the expanding repair market, we established ourselves as a comprehensive maintenance company for concrete structures, laying a solid foundation for the company. This period witnessed four consecutive years of double-digit sales growth.

In December 1989, the company attained promotion to the First Section of the Tokyo Stock Exchange. Amidst the turmoil of the bursting bubble economy, we navigated through organizational and human resource reforms while pioneering new technologies. In 1992, Akira Ueda, who had led the company as president since its inception, transitioned to the role of chairperson, with Shigeru Higaki assuming the presidency, marking our first presidential change. That same year, our sales surpassed 40.0 billion yen for the first time. Additionally, we issued bonds denominated in Swiss francs with preemptive rights to raise funds for capital investment.

The Era of Earthquake Resistance of Structures

In 1993, on our 35th anniversary, net sales reached 44.7 billion yen with an operating income of 3.4 billion yen, the highest since our establishment, showcasing a notably profitable structure.

Two years later, the Great Hanshin-Awaji Earthquake struck. Fortunately, the piers that underwent SHO-BOND’s seismic reinforcement just before the earthquake remained undamaged. Conversely, neighbouring unfortified piers suffered significant damage, drawing attention to our Steel Jacketing Method with resin injection as an effective seismic reinforcement technique.

By 1996, our capital increased to 10.1 billion yen, earning recognition from the Tokyo Stock Exchange for our role in market revitalization through consistent dividend increases driven by robust business performance.

During the same summer, the Technical Research Institute was completed and equipped with technical research and durability assessment facilities, significantly enhancing the reliability of SHO-BOND's construction techniques and products. Tours for design consultancies in the Technical Research Institute are also organized to enhance public relations efforts to showcase our technical capabilities.

Due to a significant increase in seismic reinforcement work after the Great Hanshin-Awaji Earthquake, net sales in FY1997 reached 98.1 billion yen.

In April 1998, President Higaki, who played a pivotal role in shaping the company’s management framework, retired. Vice president Akio Kamiya succeeded him as the third president and announced his intention to expand into peripheral fields such as sewerage, buildings, and irrigation channels.

Perseverance and Change

During this period, the business environment became exceedingly difficult, partly due to changes in the public works’ bidding rules and laws. These challenges have been unparalleled since the company's establishment. By FY2004, net sales dropped to 25.9 billion yen, leading to the company’s first losses since its early days. Nonetheless, by implementing organizational and systemic reforms and focusing on quality, we tackled these challenges directly. By the following fiscal year, FY2005, we swiftly recovered to profitability, thanks to our employees’ united efforts to surmount this obstacle.

Notably, in 2001, our company’s construction project of the Metropolitan Expressway was distinguished with the prestigious Zenken Award by the Japan Construction Engineers’ Association. Our innovative PS SHEET METHOD was also recognized and certified through the Construction Technology Review and Certification framework.

In the wake of the Niigata Chuetsu Earthquake in the fall of 2004, the entire company mobilized to assess the damage to bridges and other structures caused by the earthquake. In the winter of that year, we conducted a 40-year later soundness assessment of the deck slabs of the Showa Ohashi Bridge and confirmed the sustained strength of the bridge, which was restored in 1964 after the Niigata earthquake. In addition, a follow-up survey of the water-repellent effect of SPANGUARD after 19 years of installation confirmed that they had excellent water-repellent effects, proving once again that our epoxy resins have excellent long-term durability.

In the summer of 2005, Vice President Kazuhiro Ishihara ascended to the presidency as the fourth leader of our company. The legal reform introduced general competitive bidding based on the comprehensive evaluation method to bid for public works projects. This change has allowed various factors other than price to be considered in bidding. This was indeed a tailwind for our company, which has strong technical capabilities and a wealth of experience in this field. Additionally, we are implementing various cost-cutting strategies to transform into a more muscular, streamlined company.

Reborn SHO-BOND

In 2008, SHO-BOND Holdings Co., Ltd. was established, marking a new chapter as a holding company. Subsequently, SHO-BOND CORPORATION became a wholly owned subsidiary. That year, the company’s sales rebounded to 34.4 billion yen.

Following the tragic bridge collapse in Minnesota (USA), Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) proposed a shift in the nation’s bridge maintenance strategy. The proposal emphasized the transition from reactive maintenance to preventive maintenance, along with the institutionalization of inspections. This shift underscored the growing importance of repair and reinforcement to prolong the lifespan of social infrastructure. For SHO-BOND, a company with a core focus on repair and maintenance, this development presented an opportunity to navigate through the challenges faced in recent years. It signified a turning point, as the company’s business performance began to show signs of recovery and improvement, aligning with the national emphasis on infrastructure preservation.

In December 2009, the company moved to its own head office building (Chuo-ku, Tokyo), the first since our founding.

Around the same time, Chairperson Akira Ueda made a contribution of 100 million yen from his funds to establish the Ueda Memorial Foundation. He chose to bequeath his shares to the foundation, demonstrating his commitment to social contribution. The foundation’s activities included providing grant-type scholarships to students and supporting research related to social capital and global environmental sustainability.

In January 2010, Vice President Soushi Fujii was appointed as the fifth president of SHO-BOND CORPORATION. The holding company SHO-BOND Holdings Co., Ltd., on the other hand, was under the management of President Ishihara.

In March 2011, the Great East Japan Earthquake occurred, resulting in unimaginable human and material losses due to the accompanying tsunami. Remarkably, the damage to civil engineering structures other than that caused by the tsunami was relatively small. This outcome demonstrated the effectiveness of seismic reinforcement measures implemented after the Great Hanshin-Awaji Earthquake. Meanwhile, in response to this event, there has been an acceleration in reinforcing structures that have not yet undergone seismic strengthening.

Around the time, our company received prestigious accolades: the 2010 Outstanding Civil Engineering Achievement Award from Japan Society of Civil Engineers and the JSCE Kansai Branch Technical Award in the Kansai region. As an organization, we established 12 regional construction subsidiaries nationwide so that we could respond to the order format of local governments, and we achieved steady results.

The Dawn of a New Era of Social Capital Maintenance

In the face of numerous large-scale disasters and accidents since the 2010s, Japan has underscored the necessity for seismic reinforcement and measures against structural deterioration.

The lessons learned from the Great East Japan Earthquake have catalyzed initiatives under the Fundamental Plan for National Resilience since 2014. Moreover, the 2012 Sasago Tunnel ceiling collapse highlighted the urgency of addressing Japan’s aging infrastructure. Proclaiming 2013 as the “First Year of Social Capital Maintenance,” the government established the Basic Plan for Life Extension of Infrastructure. Building upon this framework, the Expressway Renewal Project (FY2015–FY2030) is being advanced to fortify and modernize our national roadways.

SHO-BOND responded to these changes in the business environment by promoting organizational reforms to stabilize management and strengthen profitability. In 2011, the Group founded Maintenance Technology Inc., a firm dedicated to the surveying, diagnosis, and design of structures. The year 2016 saw a strategic consolidation, with SHO-BOND Chemical and SHO-BOND Coupling merging to form SHO-BOND MATERIAL CO., LTD. Additionally, we expanded our reach by making MISUMI Tokusyu Inc., (now Kyna-Tech) a subsidiary through M&A.

Our journey took a poignant turn on March 1, 2017, as we mourned the loss of our esteemed founder and chairperson, Akira Ueda. His legacy was honored by a multitude of attendees at his farewell party, including long-standing employees and business partners.

Embracing change, in April 2017, Soushi Fujii ascended to the Chairperson’s seat of the Board, while Tatsuya Kishimoto stepped up as the sixth president of SHO-BOND CORPORATION. Later that September, Mr. Kishimoto also took on the role of the second president of the holding company, succeeding Kazuhiro Ishihara. This generation shift heralded a new chapter for us, culminating in the celebration of our 60th anniversary on June 4, 2018.

Change in itself is progress

As the scale of repair and reinforcement work commissioned by expressway companies expands, our company is actively enhancing our business strategy and solidifying our foundation for future accelerated growth.

In April 2020, we launched the in-house company system, an innovative approach to streamline order acquisition across vast regions. This system, coupled with our collaboration with Kyna-Tech and other group entities, as well as our focus on technological advancements, positions us to meet the evolving demands of expressways effectively. Investment in human capital and the cultivation of a safety-first culture are cornerstones of our foundational strength. Our dynamic recruitment strategy has boosted our workforce to over 1000 employees in 2024. The Initiatives for Creating a SHO-BOND Culture of Safety, which started in January 2020, aims to cultivate a deep-rooted safety culture. At the Tsukuba Training Center, which opened its doors in October 2021, we provide practical education, fortifying a robust construction framework that encompasses our partner companies. These strategic measures have propelled us to successfully receive orders for large-scale construction projects. In FY2023, expressway-related works constituted 66% of our construction sales, contributing to continuous growth in both sales and profits.

In April 2019, we took a significant step toward global outreach by establishing a joint venture with MITSUI & CO., LTD., named SHO-BOND & MIT Infrastructure Maintenance Corporation (SB&M). This strategic move marked the beginning of our maintenance business’s overseas expansion. Recognizing the growing concerns of aging infrastructure globally, we are poised to address these challenges by exporting our advanced technology and expertise.

In 2020, we established a joint venture, CPAC SB&M Lifetime Solution Co., Ltd., in partnership with CPAC, a subsidiary of the Thai conglomerate Siam Cement Group. In July 2023, we further extended our reach by investing in Structural Technologies, LLC, a U. S. infrastructure maintenance company.

In April 2022, in line with the Tokyo Stock Exchange market reorganization, our company made a strategic decision to select the Prime Market. This move aligns with our commitment to being a leading prime-listed company in Japan. We recognize and embrace the responsibilities that come with this status. Our ambition is to elevate our corporate value beyond financial performance, striving for excellence in every aspect of our business.

On June 4, 2023, we celebrated our 65th anniversary. Carrying forward the founder’s cherished passion for progress, we remain dedicated to continuous innovation and embracing new challenges as we move into the future.