Hi,
Off the top of my head I recall obj files need the materials in a very specific place on the file system relative to the .obj file itself.
SweetHome3D loads up obj files well, so you could either get me a zip to take a look at an example of it not loading or take a look at
SweetHome3D-7.5-src.zipunder
package com.eteks.sweethome3d.j3d.OBJLoader