Expansion of the Catering and Boxed-Meal Businesses through the Acquisition of Shares in 味工房スイセン

「We also acquired new customers through the EC site improvements made in the previous year and the strengthened sales division, and secured orders for projects at international events.」

「As demand for parties, sporting events, academic conferences and ceremonies showed signs of recovery, we redesigned our website with a greater focus on products and the customer perspective. As a result of efforts to further increase orders through our EC site, both new customers and repeat customers increased.」

「We also began selling through our EC site products for external sales to premium supermarkets and companies, as well as catering plans under the Ikue brand. The osechi cuisine sold in stores at year-end was also well received.」

「In the prepared-meal catering business, catering sales increased substantially and are expected to continue performing well. Specifically, parties such as corporate social gatherings, academic conferences and social gatherings at rental conference venues, where demand recovered after COVID-19, performed very strongly and contributed to sales. Catering sales have recovered to nearly pre-COVID-19 levels. Sales of OEM products also began.」

「The permanent boxed-meal and prepared-food outlet “Ikue” at Shibuya Tokyu Food Show has been open for 1.5 years. Greater brand recognition from reopening at events and premium supermarkets led to large orders from repeat customers, and its simmered products and osechi products were well received. EC sales also began.」

「Demand for catering and ceremony services at large sporting and other events, particularly soccer events, is showing signs of recovery, and since October we have secured orders for major projects including the Tokyo Legacy Half Marathon 2022, the Emperor's Cup soccer final and the Parkour World Championships. In catering, we are pursuing comprehensive order diversification through mutual cooperation with other operators and industry peers and through OEM production of boxed meals.」

「In the prepared-meal catering business, demand for ceremony and catering services has taken longer than expected to recover due to the impact of COVID-19. However, as society seeks to coexist with COVID-19, demand for ceremonies and various events, particularly large sporting events, has gradually begun to recover. The Company strengthened sales activities in the ceremony business and expanded its customer base by winning repeat orders from former customers and acquiring new customers. In catering, it sought to diversify orders comprehensively through mutual cooperation with other operators and industry peers and through OEM production of boxed meals. As a result, the prepared-meal catering business reported sales of ¥101 million, up 122.4% year on year, and an operating loss of ¥48 million, compared with an operating loss of ¥71 million in the same period of the previous year.」

「As a result, the prepared-meal catering business reported sales of ¥528 million, up 254.0% year on year, and an operating loss of ¥121 million, compared with an operating loss of ¥305 million in the same period of the previous year.」

「There were also positive developments, including the recovery in demand for large events and the creation of new demand related to COVID-19, such as providing large-scale hot meals and staff boxed meals at the final of the Emperor's Cup soccer tournament and providing meals during the quarantine period for travelers to Japan. In the prepared-food event-sales business, which we have operated since the previous year, year-end osechi meals sold at the permanent “Ikue” outlet at Shibuchika Tokyu Shibuya Food Show were well received, and the business continued to expand steadily. As a result of these initiatives, although sales remained below pre-COVID-19 levels, they were substantially higher than in the same quarter of the previous year, while the operating loss was significantly reduced.」

「In the prepared-food event-sales business we have operated since the previous year, on 10 July we opened a permanent outlet for the new-format “Ikue” prepared-food brand at Tokyu Department Store's Shibuchika Food Show, where it has been very well received.」

「Meanwhile, as a new initiative, we held boxed-meal and prepared-food events at Isetan Shinjuku, operated by Mitsukoshi Isetan Co., Ltd., and Shinjuku, operated by Odakyu Department Store Co., Ltd., which were very well received. In response, on 10 July we opened our first permanent department-store outlet for boxed meals and prepared foods, and expect further expansion of the business.」

「The new department-store event sales business has also been highly regarded by customers, and is expected to grow as the third pillar after prepared-meal catering and catering services.」

「As new initiatives, we expanded event sales at commercial facilities and home delivery of prepared foods and boxed meals. Our premium seaweed-wrapped boxed meals and prepared-food offerings at Odakyu Shinjuku and Isetan Shinjuku department stores were well received.」

「In the prepared-meal catering business, many business partners refrained from placing orders as COVID-19 spread, and sales of both funeral catering and catering parties remained sluggish. As a new initiative, we launched the “MEGURO DELI” brand, developed new menus and received favorable reviews for event sales at commercial facilities.」

「The prepared-meal catering business faced difficult operating conditions due to the impact of COVID-19. As countermeasures, we introduced individually portioned meals for wakes, individually portioned catering-party meals without shared tongs, improved the quality of prepared meals, reduced expenses and improved productivity by reviewing the organizational structure.」

「As part of our business expansion, we acquired all shares of 味工房スイセン on 9 December 2019. Under the slogan “Delivering extraordinary moments through refined seasonal cuisine and service, with heartfelt deliciousness,” 味工房スイセン provides catering parties, boxed meals and celebratory cuisine. Going forward, we aim to further expand business performance by generating synergies with our Group.」