Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
1700
¥100 million (net sales target for the fiscal year ending March 2028)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+17.2%
基準 1,450Target1,700Hundreds of millions of yen
Operating profit+90.5%
基準 21Target40Hundreds of millions of yen
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. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Total investment plan¥3.5 billion over three years (capital investment)
Investment amount by sectorField Capital Expenditure / Amount ¥3.5 billion
Statements about the use of capital
Payout ratio / DOE policyProgressive dividend policy. The period covered is a phase of business growth.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Growth strategy through business restructuring
02Expanding merchandise through organic growth, M&A and alliances
03Strengthening earnings through delivery of external products
04Refining the Kakuyasu model and capturing the benefits accruing to surviving companies
05Improving efficiency through the use of digital technologies and DX
06Growth through the expansion and enlargement of operating areas
07Rebuilding in-store sales
08Initiatives related to human capital
09Continuing to promote the six materialities
10Planting the seeds for future growth
Plan assumptions45,000 existing business partners × 20% × ¥1 million in annual transactions per store = ¥9 billion (sales of food ingredients and other products), CAGR of 3.9% for alcohol sales, Approximately 30% delivery capacity remains at existing locations, Total scale of target companies for M&A: ¥10 billion
Segment targetBusiness Sales of food ingredients and other products / Net Sales ¥19.0 billion / Operating profit Not disclosed / Subject Fiscal year ending March 2028, Business Alcohol sales / Net Sales ¥151 billion / Operating profit ¥3 billion / Subject Fiscal year ending March 2028, Business Restructuring and other activities / Net Sales Not disclosed / Operating profit ¥1 billion / Subject Fiscal year ending March 2028
Risks identified by the company
Decline in the adult population × decline in alcohol consumption per adult
Shortage of truck drivers resulting from the 2024 logistics problem
Reason for revision or withdrawal
The business environment is challenging due to the decline in the adult population × the decline in alcohol consumption per adult, the shortage of truck drivers resulting from the 2024 logistics problem has become pronounced, and restructuring is required to further strengthen the company's competitive strengths and achieve sustainable growth.
| Item | Details |
|---|---|
| Plan name | Group Medium-Term Management Plan [TRANSFORMATION PLAN 2028] |
| Plan period | Fiscal years ending March 2026 to March 2028 |
| Progress against the plan | Partially revised |
| Sales Target | 1,450 Hundreds of millions of yen → 1,700 Hundreds of millions of yen（17.2%） |
| Operating profit target | 21 Hundreds of millions of yen → 40 Hundreds of millions of yen（90.5%） |
| Payout ratio / DOE policy | Progressive dividend policy. The period covered is a phase of business growth. |
| Total investment plan | ¥3.5 billion over three years (capital investment) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥3.5 billion |
| Segment target | Business Sales of food ingredients and other products / Net Sales ¥19.0 billion / Operating profit Not disclosed / Subject Fiscal year ending March 2028, Business Alcohol sales / Net Sales ¥151 billion / Operating profit ¥3 billion / Subject Fiscal year ending March 2028, Business Restructuring and other activities / Net Sales Not disclosed / Operating profit ¥1 billion / Subject Fiscal year ending March 2028 |
| Plan assumptions | 45,000 existing business partners × 20% × ¥1 million in annual transactions per store = ¥9 billion (sales of food ingredients and other products), CAGR of 3.9% for alcohol sales, Approximately 30% delivery capacity remains at existing locations, Total scale of target companies for M&A: ¥10 billion |
| Key initiatives | Growth strategy through business restructuring, Expanding merchandise through organic growth, M&A and alliances, Strengthening earnings through delivery of external products, Refining the Kakuyasu model and capturing the benefits accruing to surviving companies, Improving efficiency through the use of digital technologies and DX, Growth through the expansion and enlargement of operating areas, Rebuilding in-store sales, Initiatives related to human capital, Continuing to promote the six materialities, Planting the seeds for future growth |
| Reason for revision or withdrawal | The business environment is challenging due to the decline in the adult population × the decline in alcohol consumption per adult, the shortage of truck drivers resulting from the 2024 logistics problem has become pronounced, and restructuring is required to further strengthen the company's competitive strengths and achieve sustainable growth. |
| Risks identified | Decline in the adult population × decline in alcohol consumption per adult, Shortage of truck drivers resulting from the 2024 logistics problem |
Items this document does not state (12)
Operating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceNon-financial targetsResults under the previous planSize of the Target MarketDate of board resolutionPublication date
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.The business environment for alcohol sales has become more challenging due to declines in the adult population and alcohol consumption per adult, while the 2024 logistics problem has highlighted a shortage of truck drivers. Against this backdrop, the company is pursuing business restructuring to achieve sustainable growth.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.