Startup
TTBM
株式会社TBM
Not ranked in the Japan Top 100 Startups: published total includes debt and the split is not disclosed
| Founded / HQ | 2011 · Tokyo |
|---|---|
| Equity raised to date | ¥42.8Bincl. debt/grants “累計資金調達額428億円” Company-stated cumulative · as of 2025 · TBM (LIMEX partner page) Company figure includes loans and government subsidies; equity-only total not disclosed. |
| Last round | 2024 · Loan · ¥2B 20億円（みずほ銀行ローン） |
| Latest public valuation | Not publicly disclosed (we do not estimate) |
| Key investors | SK Group |
| Unicorn | No |
| Website | tb-m.com |
From Japanese sources
Findings from Japanese-language filings, government records, trade press, interviews and job posts, with our English analysis. Items tagged Japanese-only had no English coverage when we checked quickly. Most insightful first.
| 2026-05-25 | Regulatory filingJapanese-onlyTBM's statutory accounts: 15th straight loss, but narrowed to ¥763M 株式会社TBM 第15期決算公告 The FY12/2025 gazette notice shows a net loss of ¥763M, well below the prior year's (Compalyze puts it at about ¥5.9B), with net assets of ¥3.23B. The narrowing supports management's TSE Growth IPO talk for 2027, but at 15 straight loss years investors will want proof of profit first. Source: Kanpō financial notice (via 官報決算データベース) |
|---|---|
| 2025-12-11 | IPO signalTBM prepares for a TSE Growth listing, eyeing a ¥100B+ valuation 脱炭素素材のTBMがグロース市場上場に向け準備、1000億円超え視野に The CFO said TBM had picked a lead underwriter and auditor and was sounding out investors, with a listing as early as 2027. Bloomberg ran an English version. Source: Bloomberg via TBS CROSS DIG |
Overview
TBM makes LIMEX, a limestone-based material that replaces paper and plastic in sheets, packaging and moulded goods, and increasingly runs plastic-recycling and carbon-recycling businesses (CirculeX recycled resin, CR LIMEX that fixes CO₂). Customers range from JR Central (Shinkansen leaflets) and hotels to consumer brands and carmakers testing recycled materials, with a growing project pipeline in Vietnam. It sells materials and recycling services and also offers the ScopeX CO₂-accounting tool. TBM says it has raised ¥42.8B in total including loans and grants (as of 2024), so the equity-only share is smaller.
Built from: Newsroom · Company overview
Company timeline
Founded
| Date | 2011-08-30· TBM |
|---|---|
| Founders | Nobuyoshi Yamasaki |
Funding
| Date | Round | Amount | Lead / key investors | Source |
|---|---|---|---|---|
| 2016-02-22 | Funding | ¥1.5B 総額15億円 | Company release (PR TIMES) | |
| 2018-11-15 | Funding | ¥3.12B 総額31.2億円 | Company release (PR TIMES) | |
| 2019-03-05 | Funding | ¥1.55B 15.5億円 | Company release (PR TIMES) | |
| 2020-11-24 | Funding | ¥2.06B 20.6億円 | Company release (PR TIMES) | |
| 2024-03-27 | Bank loan (excluded) | ¥2B guaranteed loan from Mizuho 総額20億円の保証付きローン契約 | Mizuho Bank | TBM |
Key hires & board
None compiled yet.
Milestones
| 2025-12-24 | OverseasPlans carbon-recycling material plant in Vietnam with VAPCO and Viet Ha· TBM |
|---|---|
| 2026-02-04 | ProductDevelops CirculeX high-performance recycled resin· TBM |
| 2026-02-12 | CustomerLIMEX Sheet leaflets in all Tokaido Shinkansen Green Cars· TBM |
| 2026-07-16 | GrantNEDO carbon-recycling R&D project selected· TBM |
| 2026-09-16 | PartnershipCarbon-solutions alliance with Asuene· TBM |
| 2026-09-16 | PartnershipTBM and Asuene start business partnership on carbon solutions· PR TIMES |
| 2026-09-24 | RecognitionTBM selected for Tokyo CDR credit programme (FY2026)· PR TIMES |
| 2026-09-24 | RecognitionSelected for Tokyo CDR credit program· TBM |
| 2026-10-05 | M&AAcquires M&A advisory firm Platinum Partners· TBM |
| 2026-10-05 | AcquisitionTBM makes M&A adviser Platinum Partners a group company· PR TIMES |
| 2026-10-13 | RecognitionTBM selected for Tokyo business-location subsidy· PR TIMES |
| 2026-10-13 | RecognitionSelected for Tokyo industrial-siting subsidy· TBM |
News
| 2026-10-14 | CirculeX recycled resin advances in automotive evaluations TBM、国内外で自動車用途に向けた高機能再生材「CirculeX」の材料評価が進展· TBM |
|---|---|
| 2026-10-14 | TBM's CirculeX recycled material advances in automotive evaluations TBM、国内外で自動車用途に向けた高機能再生材「CirculeX」の材料評価が進展· PR TIMES |
| 2026-10-13 | Selected for Tokyo industrial-siting subsidy TBM、東京都「新産業創出に向けた企業立地支援補助金」に採択· TBM |
| 2026-10-13 | Basic agreement with Sotas on GX chemicals TBMとSotas、GXケミカル領域の社会実装と市場創出に向けた基本合意· TBM |
| 2026-10-13 | TBM and Sotas sign basic agreement on GX chemicals TBMとSotas、GXケミカル領域の社会実装と市場創出に向けた基本合意を締結· PR TIMES |
| 2026-10-13 | TBM selected for Tokyo business-location subsidy TBM、東京都「新産業創出に向けた企業立地支援補助金」に採択· PR TIMES |
| 2026-10-05 | TBM acquires Platinum Partners TBM、M&A仲介・事業承継支援を手掛けるプラチナパートナーズをグループ会社化· TBM |
| 2026-10-05 | TBM makes M&A adviser Platinum Partners a group company TBM、M&A仲介・事業承継支援を手掛けるプラチナパートナーズをグループ会社化· PR TIMES |
| 2026-09-24 | Selected for Tokyo CDR credit program TBM、東京都「令和8年度CDRクレジット創出促進事業」に採択· TBM |
| 2026-09-24 | TBM selected for Tokyo CDR credit programme (FY2026) TBM、東京都「令和8年度CDRクレジット創出促進事業」に採択· PR TIMES |
| 2026-09-16 | Alliance with Asuene on carbon solutions TBM とアスエネ、カーボンソリューションの普及に向けた事業提携を開始· TBM |
| 2026-09-16 | TBM and Asuene start business partnership on carbon solutions TBMとアスエネ、カーボンソリューションの普及に向けた事業提携を開始· PR TIMES |
| 2026-09-01 | LIMEX adopted for My.Supporter body-lotion bottles (TBM and Rigua) TBMとリグア、ヘルスケアブランド「My.Supporter」の ボディミルクローション容器に環境配慮型素材「LIMEX」を採用· PR TIMES |
| 2026-07-16 | Selected for NEDO carbon-recycling R&D NEDO「カーボンリサイクル…」に採択· TBM |
| 2026-07-16 | TBM selected for NEDO carbon-recycling CO2 utilisation project NEDO「カーボンリサイクル・次世代火力発電等技術開発／CO2有効利用拠点における技術開発」に採択· PR TIMES |
| 2026-06-25 | TBM releases video on its carbon-recycling business TBM、注力事業であるカーボンリサイクル事業の紹介動画を公開· PR TIMES |
| 2026-02-12 | LIMEX Sheet adopted in all Tokaido Shinkansen Green Cars 「LIMEX Sheet」、東海道新幹線グリーン車全車両へ導入· TBM |
| 2026-02-04 | Develops CirculeX recycled resin 高機能再生材「CirculeX」を開発· TBM |
| 2025-12-24 | Vietnam carbon-recycling plant plan with VAPCO and Viet Ha カーボンリサイクル素材のプラント建設、製造に向け…VAPCO…· TBM |
| 2025-12-11 | TBM featured by Bloomberg 「Bloomberg」にてTBMの取組が紹介· TBM |
Founder profiles: Nobuyoshi Yamasaki
Funding rounds in 2026
No 2026 rounds in our database yet. Earlier funding is summarised above from the cited source.