New Medium-Term Management Plan (Phase I): "Creative Power"

「Under the new medium-term management plan, Phase II, “Power to Connect,” which has entered its final year, we have pursued each priority strategy based on the following basic policies: for the refrigerated warehousing business, “resolving issues in Japan and overseas through the high-quality logistics we have built up and providing smart cold services to customers”; and for the food sales business, “leveraging our network of producers in Japan and overseas to deliver seasonal products and deliciousness to customers through our expertise in selecting products.”」

「The numerical targets for fiscal 2026 under the new medium-term management plan, Phase II, have been changed to the figures set out in the “Notice Regarding Revision of the Medium-Term Management Plan” announced on 13 November 2025.」

「Last fiscal year, we formulated a new medium-term management plan, Phase II, “Power to Connect,” with 2026 as its final year. The refrigerated warehousing business adopted the policy of “resolving issues in Japan and overseas through the high-quality logistics we have built up and providing smart cold services to customers,” while the food sales business adopted the policy of “leveraging our network of producers in Japan and overseas to deliver seasonal products and deliciousness to customers through our expertise in selecting products.” We are pursuing each priority measure to achieve the quantitative targets for the final year, the fiscal year ending September 2026: consolidated revenue of ¥150.0 billion, consolidated operating income of ¥6.5 billion, EBITDA of ¥13.0 billion, ROE of at least 5% and maintaining the equity ratio in the 40% range.」

「Against this backdrop, the Group formulated a new medium-term management plan, Phase II, “Power to Connect,” with 2026 as its final year. The refrigerated warehousing business adopted the policy of “resolving issues in Japan and overseas through the high-quality logistics we have built up and providing smart cold services to customers,” while the food sales business adopted the policy of “leveraging our network of producers in Japan and overseas to deliver seasonal products and deliciousness to customers through our expertise in selecting products.” We are pursuing each priority measure to achieve the quantitative targets for the final year, the fiscal year ending September 2026: consolidated revenue of ¥150.0 billion, consolidated operating income of ¥6.5 billion, EBITDA of ¥13.0 billion, ROE of at least 5% and maintaining the equity ratio in the 40% range.」

「As the second stage toward achieving our vision, we formulated a new medium-term management plan, Phase II, “Power to Connect,” with 2026 as its final year. The refrigerated warehousing business adopted the policy of “resolving issues in Japan and overseas through the high-quality logistics we have built up and providing smart cold services to customers,” while the food sales business adopted the policy of “leveraging our network of producers in Japan and overseas to deliver seasonal products and deliciousness to customers through our expertise in selecting products.” We are pursuing each priority strategy to achieve the quantitative targets for the final year, the fiscal year ending September 2026: consolidated revenue of ¥150.0 billion, consolidated operating income of ¥6.5 billion, EBITDA of ¥13.0 billion, ROE of at least 5% and maintaining the equity ratio in the 40% range.」

「As the second stage toward achieving our vision, we formulated a new medium-term management plan, Phase II, “Power to Connect,” covering the period from October 2023 to September 2026, with 2026 as its final year. To achieve this medium-term management plan, the refrigerated warehousing business will pursue the policy of “resolving issues in Japan and overseas through the high-quality logistics we have built up and providing smart cold services to customers”; the food sales business will pursue the policy of “leveraging our network of producers in Japan and overseas to deliver seasonal products and deliciousness to customers through our expertise in selecting products”; and, as the management foundation supporting these businesses, we will “improve productivity and accelerate the pace of business growth.”」

「Against this backdrop, toward realizing the long-term policies “Yokorei Business Vision 2030” and “Sustainability Vision 2030,” the Group is implementing key strategies based on the Medium-Term Management Plan (Phase I), “Creating Power,” whose final year is 2023. The refrigerated warehousing business is pursuing “creating business models,” while the food sales business is pursuing “creating new value in food.”」

「Against this backdrop, toward realizing the long-term policies “Yokorei Business Vision 2030” and “Sustainability Vision 2030,” the Group is implementing key strategies based on the Medium-Term Management Plan (Phase I), “Creating Power,” whose final year is 2023. The refrigerated warehousing business is pursuing “creating business models,” while the food sales business is pursuing “creating new value in food.”」

「Against this backdrop, toward realizing the long-term policies “Yokorei Business Vision 2030” and “Sustainability Vision 2030,” the Group is implementing key strategies based on the final-year Medium-Term Management Plan (Phase I), “Creating Power.” The refrigerated warehousing business is pursuing “creating business models,” while the food sales business is pursuing “creating new value in food,” with quantitative targets of “consolidated net sales of ¥124.0 billion,” “consolidated operating profit of ¥5.0 billion,” “EBITDA of ¥11.0 billion,” and “maintaining the equity ratio in the mid-40% range.”」

「However, the targets for the final year of the medium-term plan were revised to reflect higher selling prices in the food sales business due to soaring raw material and energy prices and sharp foreign-exchange fluctuations, as well as higher costs in the refrigerated warehousing business due to rising electricity charges. There are no changes to the basic policies or priority measures set out in the medium-term management plan. The revised quantitative targets are consolidated net sales of ¥124 billion, consolidated operating income of ¥5 billion, EBITDA of ¥11 billion, and maintenance of an equity ratio in the mid-40% range.」

「Against this backdrop, the Group is pursuing each priority strategy under the Phase I medium-term management plan, "Creating Power," ending in 2023, to achieve the long-term policies "Yokorei Business Vision 2030" and "Sustainability Vision 2030" toward 2030. Its policies are to create a business model for the refrigerated warehousing business and create new value in food for the food sales business. The Group is pursuing each priority strategy to achieve the following quantitative targets in the final year (the fiscal year ending September 2023): consolidated net sales of ¥120 billion, consolidated operating income of ¥5 billion, EBITDA of ¥11 billion, and maintenance of an equity ratio in the mid-40% range.」

「Against this backdrop, the Group is pursuing each priority strategy under the Phase I medium-term management plan, "Creating Power," ending in 2023, to achieve the long-term policies "Yokorei Business Vision 2030" and "Sustainability Vision 2030" toward 2030. Its policies are to create a business model for the refrigerated warehousing business and create new value in food for the food sales business. The Group is pursuing each priority strategy to achieve the following quantitative targets in the final year (the fiscal year ending September 2023): consolidated net sales of ¥120 billion, consolidated operating income of ¥5 billion, EBITDA of ¥11 billion, and maintenance of an equity ratio in the mid-40% range.」

「Against this backdrop, the Group is pursuing each priority strategy under the Phase I medium-term management plan, "Creating Power," ending in 2023, to achieve the long-term policies "Yokorei Business Vision 2030" and "Sustainability Vision 2030" toward 2030. Its policies are to create a business model for the refrigerated warehousing business and create new value in food for the food sales business. The Group is pursuing each priority strategy to achieve the following quantitative targets in the final year (the fiscal year ending September 2023): consolidated net sales of ¥120 billion, consolidated operating income of ¥5 billion, EBITDA of ¥11 billion, and maintenance of an equity ratio in the mid-40% range.」

「However, we revised the targets for the final year of the current medium-term management plan after taking into account the deconsolidation of Hofseth Aqua AS, a Norwegian aquaculture company, which reduced revenue and operating income from the aquaculture business, revisions required by the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), applicable from the fiscal year ending September 2021, and the impact of the COVID-19 pandemic, which has lasted longer than initially expected.」

「Against this backdrop, the Group formulated the first phase of its medium-term management plan, “Creating Power,” with 2023 as its final year. The policy for the refrigerated warehouse business is “creating a business model,” while that for the food sales business is “creating new value in food.” We are pursuing each priority initiative to achieve the quantitative targets of consolidated net sales of ¥131.0 billion, consolidated operating profit of ¥6.0 billion and EBITDA of ¥12.0 billion, as well as the sustainability targets, in the final fiscal year, the fiscal year ending September 2023.」

「Against this backdrop, the Group formulated the first phase of its medium-term management plan, “Creating Power,” with 2023 as its final year. The policy for the refrigerated warehouse business is “creating a business model,” while that for the food sales business is “creating new value in food.” We are pursuing each priority initiative to achieve the quantitative targets of consolidated net sales of ¥131.0 billion, consolidated operating profit of ¥6.0 billion and EBITDA of ¥12.0 billion, as well as the sustainability targets, in the final fiscal year, the fiscal year ending September 2023.」

「As the first step toward achieving these goals, we formulated the new Phase I medium-term management plan, "Creating Power," with 2023 as its final year. The policy for the refrigerated warehousing business is "creating a business model," and that for the food sales business is "creating new value in food." We are pursuing priority strategies to achieve the quantitative targets of ¥131 billion in consolidated net sales, ¥6 billion in consolidated operating profit, and ¥12 billion in EBITDA for the final year, the fiscal year ending September 2023.」

「As the first step toward achieving these goals, we formulated the new Phase I medium-term management plan, "Creating Power," with 2023 as its final year. To achieve this plan, the refrigerated warehousing business adopted "creating a business model" as its policy, the food sales business adopted "creating new value in food," and, as the management foundation supporting these efforts, the administrative functions adopted "developing human resources to support globalization." We are pursuing priority strategies to achieve the quantitative targets of ¥131 billion in consolidated net sales, ¥6 billion in consolidated operating profit, and ¥12 billion in EBITDA for the final year, the fiscal year ending September 2023.」