Worth reading
82Important
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
3
Stores/year (revised from approximately 8-10 stores per year)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedOperating profit margin-16.0pt
基準 26Target10%
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).
What happened to the previous plan8 stores (FY3/26 store-opening plan) → 7 stores (FY3/26 actual)0.0%Calculated from the two disclosed figures
Investment amount by sectorField Capacity expansion to increase the supply of products manufactured in-house / Amount Not disclosed, Field Acquisition of food factories / Amount Not disclosed, Field Expansion of the brand portfolio through M&A in Japan and overseas / Amount Not disclosed
Key initiatives
01Increase the profitability of existing stores in the 久世福商店 business
02Establish an operating base that enhances production efficiency and profitability
03Strengthen the food-focused SPA model through M&A
04In-store presentation
05Product Development
06Store sales capabilities
07Review the store-opening strategy and shift the focus to strengthening the profitability of existing stores
Plan assumptionsWhile Japan's population continues to decline, spending on processed foods is on a long-term upward trend, The B-to-C market for food, including beverages and alcoholic beverages, was ¥3.1163 trillion in 2024, up 6.36% year on year, with an e-commerce penetration rate of 4.52%, The B-to-C market for goods was ¥15.2194 trillion in 2024, up 3.70% year on year, with an e-commerce penetration rate of 9.78%
Segment targetSegment 久世福商店 business (existing stores) / Sales target Average annual sales per existing store at 1.2 times the FY3/26 level (three years from now) / Profit Target Not disclosed, Segment 久世福商店 business / Sales target Not disclosed / Profit Target Not disclosed / Other targets Number of loyal customers at 2.5 times the FY3/26 level
Non-financial targetsIndicator name Number of loyal 久世福商店 customers / Target value 200,000, or 2.5 times the FY3/26 level / Timing Three years from now (FY3/29)
Size of the Target MarketMarket B-to-C market for food, including beverages and alcoholic beverages / Scale ¥3.1163 trillion (2024) / Growth rate Up 6.36% / Source Ministry of Economy, Trade and Industry, "FY2024 E-Commerce Market Survey", Market B-to-C market for goods / Scale ¥15.2194 trillion (2024) / Growth rate Up 3.70% / Source Ministry of Economy, Trade and Industry, "FY2024 E-Commerce Market Survey"
Reason for revision or withdrawal
Following a review of returns on investment and profit maximization, the company canceled the opening of 1 久世福商店 store and opened 1 サンクゼール store. It will optimize its store portfolio and improve the profitability of existing stores by selectively limiting new openings while closing unprofitable stores. It will also limit the number of new openings, concentrate management resources at サンクゼールの丘 in Iizuna, Nagano, the birthplace of the company, and rebuild brand value.
| Item | Details |
|---|---|
| Plan name | Medium- and Long-Term Growth Strategy |
| Plan period | FY3/26-FY3/29 (KPIs for three years from now) |
| Progress against the plan | Partially revised |
| Operating profit margin target | 3.9% (FY3/26 actual) → 10% (target) |
| Investment amount by sector | Field Capacity expansion to increase the supply of products manufactured in-house / Amount Not disclosed, Field Acquisition of food factories / Amount Not disclosed, Field Expansion of the brand portfolio through M&A in Japan and overseas / Amount Not disclosed |
| Segment target | Segment 久世福商店 business (existing stores) / Sales target Average annual sales per existing store at 1.2 times the FY3/26 level (three years from now) / Profit Target Not disclosed, Segment 久世福商店 business / Sales target Not disclosed / Profit Target Not disclosed / Other targets Number of loyal customers at 2.5 times the FY3/26 level |
| Non-financial targets | Indicator name Number of loyal 久世福商店 customers / Target value 200,000, or 2.5 times the FY3/26 level / Timing Three years from now (FY3/29) |
| Plan assumptions | While Japan's population continues to decline, spending on processed foods is on a long-term upward trend, The B-to-C market for food, including beverages and alcoholic beverages, was ¥3.1163 trillion in 2024, up 6.36% year on year, with an e-commerce penetration rate of 4.52%, The B-to-C market for goods was ¥15.2194 trillion in 2024, up 3.70% year on year, with an e-commerce penetration rate of 9.78% |
| Key initiatives | Increase the profitability of existing stores in the 久世福商店 business, Establish an operating base that enhances production efficiency and profitability, Strengthen the food-focused SPA model through M&A, In-store presentation, Product Development, Store sales capabilities, Review the store-opening strategy and shift the focus to strengthening the profitability of existing stores |
| Results under the previous plan | 8 stores (FY3/26 store-opening plan) → 7 stores (FY3/26 actual) |
| Reason for revision or withdrawal | Following a review of returns on investment and profit maximization, the company canceled the opening of 1 久世福商店 store and opened 1 サンクゼール store. It will optimize its store portfolio and improve the profitability of existing stores by selectively limiting new openings while closing unprofitable stores. It will also limit the number of new openings, concentrate management resources at サンクゼールの丘 in Iizuna, Nagano, the birthplace of the company, and rebuild brand value. |
| Size of the Target Market | Market B-to-C market for food, including beverages and alcoholic beverages / Scale ¥3.1163 trillion (2024) / Growth rate Up 6.36% / Source Ministry of Economy, Trade and Industry, "FY2024 E-Commerce Market Survey", Market B-to-C market for goods / Scale ¥15.2194 trillion (2024) / Growth rate Up 3.70% / Source Ministry of Economy, Trade and Industry, "FY2024 E-Commerce Market Survey" |
| Publication date | 24 June 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planRisks identifiedDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Following a review of returns on investment and profit maximization, the company will optimize its store portfolio and work to improve the profitability of existing stores. It will also limit the number of new openings, concentrate management resources at the birthplace of the company, サンクゼールの丘, and rebuild brand value.
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