Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
3500
¥ million (fiscal 2028 operating income plan)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+4.0%
基準 158,598Target165,000million
Operating profit+6.9%
基準 3,273Target3,500million
ROE+3.0pt
基準 2,025Target2,028％
ROIC+3.0pt
基準 2,025Target2,028％
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).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¥8.0 billion (¥4.5 billion in growth investments and ¥3.5 billion in renewal investments, over 3 years)
Investment amount by sectorField Growth Investment / Amount ¥4.5 billion / Details Equipment and DX investments in the wholesale marine-products and other products business, and the cold-chain logistics and retail-support business, Field Renewal investment / Amount ¥3.5 billion / Details Replacement of aging equipment in cold-chain logistics and food manufacturing, and major renovations in the real estate business
Statements about the use of capital
Payout ratio / DOE policyThe dividend payout ratio will be set at a minimum of 20%, applicable to dividends with a record date of 31 March 2027 and thereafter.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthen value-focused sales
02Strengthen capabilities and collaboration across the Group
03Enhance information sharing through the use of IT
04Develop human resources and reform the organizational culture
05Rebuild the organizational structure
06Environmental Initiatives
07Cash allocation and shareholder returns policy
Plan assumptionsThe company expects market conditions for certain marine products to change and costs to rise against the backdrop of global conditions, and forecasts lower profit in fiscal 2026. However, the numerical assumptions for exchange rates, market growth rates, raw material prices and other factors are Not disclosed
Segment targetSegment Wholesale marine products and other products / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Strengthen value-focused sales, stabilize earnings, and achieve growth, Segment Cold-chain logistics and retail support / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Strengthen capabilities and collaboration, and continue stable growth, Segment Real estate / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Carry out equipment renovations and maintain the segment as a stable source of earnings
Risks identified by the company
Fluctuations in marine resources
Changes in domestic consumption patterns
Diversification of distribution channels
Rising Logistics Costs
Changes in fishing grounds for marine products and declining catches
Aging and declining numbers of fishing-industry workers
Labor shortages and rising costs for labor, fuel, materials and other items
Growing global geopolitical risks and changes in trade policies and other factors
Intensifying competition due to an increase in companies entering the cold-storage warehouse industry
Risks and uncertainties related to industry competition, markets and various systems
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2028 |
| Plan period | Fiscal years 2026-2028 |
| Progress against the plan | Formulated |
| Sales Target | 158,598 (fiscal 2025 actual) → 165,000 (fiscal 2028 plan)（Approximately +4.0%） |
| Operating profit target | 3,273 (fiscal 2025 actual) → 3,500 (fiscal 2028 plan)（Approximately +6.9%） |
| ROE target | 8.8% (fiscal 2025 actual) → 6.7% (fiscal 2028 plan)（Approximately -23.9%） |
| ROIC target | 4.3% (fiscal 2025 actual) → 4.4% (fiscal 2028 plan)（Approximately +2.3%） |
| Payout ratio / DOE policy | The dividend payout ratio will be set at a minimum of 20%, applicable to dividends with a record date of 31 March 2027 and thereafter. |
| Total investment plan | ¥8.0 billion (¥4.5 billion in growth investments and ¥3.5 billion in renewal investments, over 3 years) |
| Investment amount by sector | Field Growth Investment / Amount ¥4.5 billion / Details Equipment and DX investments in the wholesale marine-products and other products business, and the cold-chain logistics and retail-support business, Field Renewal investment / Amount ¥3.5 billion / Details Replacement of aging equipment in cold-chain logistics and food manufacturing, and major renovations in the real estate business |
| Segment target | Segment Wholesale marine products and other products / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Strengthen value-focused sales, stabilize earnings, and achieve growth, Segment Cold-chain logistics and retail support / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Strengthen capabilities and collaboration, and continue stable growth, Segment Real estate / Sales target Not disclosed / Operating profit target Operating income plan shown in a graph (specific figure: Not disclosed) / Policy Carry out equipment renovations and maintain the segment as a stable source of earnings |
| Plan assumptions | The company expects market conditions for certain marine products to change and costs to rise against the backdrop of global conditions, and forecasts lower profit in fiscal 2026. However, the numerical assumptions for exchange rates, market growth rates, raw material prices and other factors are Not disclosed |
| Key initiatives | Strengthen value-focused sales, Strengthen capabilities and collaboration across the Group, Enhance information sharing through the use of IT, Develop human resources and reform the organizational culture, Rebuild the organizational structure, Environmental Initiatives, Cash allocation and shareholder returns policy |
| Risks identified | Fluctuations in marine resources, Changes in domestic consumption patterns, Diversification of distribution channels, Rising Logistics Costs, Changes in fishing grounds for marine products and declining catches, Aging and declining numbers of fishing-industry workers, Labor shortages and rising costs for labor, fuel, materials and other items, Growing global geopolitical risks and changes in trade policies and other factors, Intensifying competition due to an increase in companies entering the cold-storage warehouse industry, Risks and uncertainties related to industry competition, markets and various systems |
| Date of board resolution | 15 May 2026 |
| Publication date | 15 May 2026 |
Items this document does not state (9)
Operating profit margin targetNet income targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceNon-financial targetsResults under the previous planReason for revision or withdrawalSize of the Target Market
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 company recognizes that management improvements are essential to achieve sustainable growth and enhance corporate value amid changes in the industry environment, including fluctuations in marine resources, changes in domestic consumption patterns, diversification of distribution channels, and rising logistics costs. It also aims to enhance functions within the Group and evolve its marine-products distribution network through collaboration with partner companies.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.