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Kurita Water Industries Ltd.

Japan · Tokyo: 6370 ·Market cap:

Kurita sells the equipment, chemicals, and services that companies use to clean and recycle water.

Kurita Water Industries is a Japanese company that makes dirty water clean for factories and power plants. Its customers are not households — they are big industrial operations like semiconductor plants, steel mills, and power stations, many of which need extremely pure water to run and produce large amounts of wastewater that has to be treated before it can be reused or released.

The business has two main engines. One is a water treatment facilities segment: Kurita designs and builds the equipment and plants its customers use to purify water and treat wastewater, from massive industrial systems down to compact units for smaller operations. The other is a chemicals and services segment: it sells specialty chemicals that keep things like boilers and cooling towers from corroding or growing bacteria, and it runs maintenance services so those systems keep working. Much of the money comes from the chemicals and service side, which is recurring and steady — customers keep buying chemicals and maintenance month after month. That recurring service business is the heart of the moat. Water problems are expensive and sometimes dangerous when they go wrong — a fouled boiler or contaminated water supply can shut a plant down — so customers pay for Kurita's expertise and let it keep the systems healthy rather than shopping on price alone. It competes with big global water players and local firms, but its deep engineering know-how and long relationships with heavy industry are what keep customers around. One important growth area is water for making computer chips, where ultra-pure water is essential, and Kurita has invested in serving semiconductor factories as that industry expands. It also puts money into research and development and has grown partly through acquisitions to add technology and reach new markets. The company pays dividends and has bought back shares in recent years. A useful analogy: Kurita is less a plumber and more the doctor who keeps a factory's water system alive — showing up regularly, prescribing the right chemicals, and catching problems before they become costly failures.

Saved answer · last researched 21 Oct 2026