Japan Material Technology Research Institute Announces Ranking of Domestic Startup Company Valuations in Chemical & Materials Sector (March 2026)

Japan Material Technology Research Institute Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director and President: Koyu Urata; hereinafter "the Company") operates the "JMTC Chemical & Materials Startup Webinar" (hereinafter "C&M Webinar"), which promotes matching between domestic startups and large corporations in the chemical and materials sector, and also disseminates information through its website (https://www.jmtc.co.jp/webinar/). This time, based on information from "Speeda Startup Information Research," we have created and published a ranking of domestic startups in the chemical and materials sector based on their corporate value as of the end of March 2026.

Below, we will introduce domestic startups in the chemical and materials sector in a ranking format, in order of their corporate value.

1st Place: TBM Co., Ltd. (approx. 322.4 billion yen)

This company develops, manufactures, and sells "LIMEX," a new material primarily made from limestone. LIMEX is attracting attention as an alternative to paper and plastic, contributing to resource conservation and waste reduction. The company is also engaged in recycling businesses and decarbonization support, aiming to realize a sustainable society. (https://tb-m.com/)

2nd Place: JEPLAN Co., Ltd. (approx. 39.0 billion yen)

With the philosophy of "circulating everything," this company aims to realize a resource-recycling society using recycling technology. It develops recycling businesses for clothing and PET bottles, contributing to building a sustainable future through commercial plant operations and technology licensing. (https://www.jeplan.co.jp/)

3rd Place: Kyulux Co., Ltd. (approx. 32.7 billion yen)

A startup originating from Kyushu University, this company develops next-generation organic EL materials. Its unique "Hyperfluorescence™" technology achieves high-efficiency, long-life, and high-color-purity luminescence. It is rare-metal-free and cost-efficient, aiming to spread sustainable display and lighting technologies. (https://www.kyulux.com/?lang=ja)

4th Place: Bioworks Co., Ltd. (approx. 28.0 billion yen)

This company develops "PlaX™," a next-generation material based on plant-derived polylactic acid (PLA), aiming to replace petroleum-derived plastics and synthetic fibers. It covers everything from material development to textile product commercialization, contributing to reducing environmental impact and realizing a sustainable society through circular manufacturing. (https://bioworks.co.jp/)

5th Place: Tsubame BHB Co., Ltd. (approx. 17.1 billion yen)

A startup originating from Tokyo Institute of Science, this company develops innovative technology that can produce ammonia at low temperatures and low pressures. By deploying small-scale ammonia production plants and enabling on-site supply, it aims to realize a sustainable society that does not depend on conventional large-scale centralized production. (https://tsubame-bhb.co.jp/)

6th Place: Meijo Nano Carbon Co., Ltd. (approx. 13.1 billion yen)

This company manufactures and supplies high-purity, high-crystallinity carbon nanotubes (CNTs). It possesses advanced synthesis, purification, separation, and dispersion technologies, pursuing the potential of nanocarbons. It aims to create innovation with advanced materials and realize a sustainable future. (https://www.meijo-nano.com/)

7th Place: EF Polymer Co., Ltd. (approx. 11.0 billion yen)

A startup originating from Okinawa Institute of Science and Technology Graduate University (OIST), this company develops biodegradable superabsorbent polymers from food waste, contributing to improving water use efficiency and stabilizing yields in the agricultural sector. Through resource-recycling material development, it aims to reduce environmental impact and realize a sustainable society. (https://efpolymer.jp/)

8th Place: Japan Material Technology Research Institute Co., Ltd. (approx. 11.0 billion yen)

This company develops, manufactures, and sells high-performance materials for fields such as information electronics. It contributes to a sustainable society and human development through the social implementation of unique technologies. It actively promotes research and development of advanced materials such as conductive MXene and negative thermal expansion material BNFO. (https://group.jmtc.co.jp/)

9th Place: Atomis Co., Ltd. (approx. 10.8 billion yen)

A startup originating from Kyoto University, this company explores new possibilities for gas utilization using next-generation porous material "PCP/MOF" technology. It widely develops from material development to mass production technology and gas distribution system construction. It aims to realize a sustainable society through carbon recycling and other initiatives. (https://www.atomis.co.jp/)

10th Place: TOWING Co., Ltd. (approx. 9.8 billion yen)

A startup originating from Nagoya University, this company develops and provides next-generation food production systems centered on high-performance biochar and artificial soil utilizing soil microbial technology. It aims to reduce environmental impact and realize sustainable agriculture, and is also engaged in carbon credit businesses and applications to space agriculture, challenging to solve global food and environmental issues. (https://towing.co.jp/)

The Company aims to contribute to the emergence of unicorn companies in Japan's chemical and materials industry by promoting collaboration between operating companies and startups through multifaceted approaches, such as hosting the C&M Webinar and making startup investments through JMTC Capital LLC (https://capital.jmtc.co.jp/).

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■ About JMTC Chemical & Materials Startup Webinar

This is a membership-based pitch event where startups in the chemical & materials sector give presentations to chemical companies, trading companies, and other listening companies. It started in April 2023 and has led to collaborations, including capital and business alliances, between operating companies and startups. https://www.jmtc.co.jp/webinar/

＜Contact for this matter＞

Japan Material Technology Research Institute Co., Ltd. Inquiry Form https://www.jmtc.co.jp/contact/

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【Japan Material Technology Research Institute Co., Ltd. Overview】
■ Company Name: Japan Material Technology Research Institute Co., Ltd.
■ Established: August 2015
■ Capital: 300 million yen *Including capital reserve
■ Representative: Representative Director Koyu Urata
■ Business Activities: Functional materials business
■ Company Website:  https://www.jmtc.co.jp