Worth reading
64In 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
15
¥ trillion (FY2030 operating revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.2%
基準 2,025Target2,030trillion
Operating profit+96.0%
基準 2,704Target5,300Hundreds of millions of yen
ROE+5.0pt
基準 2,025Target2,030％
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.
Operating profit margin2.5% (FY2025 actual) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.Total investment planCapital expenditures of ¥2.4 trillion (cumulative over five years)
Investment amount by sectorField Structural reform of the food retail earnings model (infrastructure investment allocation) / Amount ¥300–400 billion, Field Transition to the new supermarket model (revitalization investment) / Amount Approximately ¥300 billion, Field Strategic funds (M&A or debt repayment) / Amount ¥500 billion or more
Key initiatives
01Build a high-profitability portfolio
02Reform the earnings structure of the food retail business
03Complete the business structure reforms
04Renew the financial structure
05Renew the gross profit structure
06Renew the expense structure
07Transition to the new supermarket model
08Expand market share in the Tokyo metropolitan area
09Establish a drug and food format (expand customer touchpoints)
10Evolve into a comprehensive health and wellness business, including services centered on health
11Create customer-attracting core businesses
12Scale up the basic categories
13Strengthen specialty zones
14Launch and discontinue categories
15Accelerate business growth in Vietnam, the highest-priority country
Plan assumptionsFigures under this medium-term management plan have been calculated without applying the new lease accounting standard, Approximately ¥190 billion in higher labor, utilities and energy costs due to environmental changes exceeding expectations, Domestic entertainment market: ¥4.2 trillion in 2021, ¥5.9 trillion in 2024 and ¥6.9 trillion in 2030, Heat map of projected total population in 2050 (2020 = 100), Persistent cost pressures for products, energy and interest rates, Continued growth of the ASEAN economy
Segment targetSegment Domestic developer, entertainment and services businesses / Indicator Operating profit / Target ¥150 billion, at least 1.4 times FY2025 / Timing FY2030, Segment Vietnam business / Indicator Operating revenue / Target More than ¥300 billion / Timing FY2030, Segment Vietnam business / Indicator Operating profit / Target Approximately 4 times / Timing FY2030, Segment Tokyo metropolitan area business / Indicator Operating revenue / Target Approximately ¥2.4 trillion, No. 1 share in the Tokyo metropolitan area / Timing 2030, Segment GMS / Indicator Operating profit / Target Approximately double or more / Timing FY2030
Non-financial targetsIndicator Topvalu sales / Target ¥2 trillion, 30% of total sales / Timing FY2030, Indicator NB group joint procurement ratio / Target 45％ / Timing FY2030, Indicator Number of My Basket stores / Target 2,500-store network / Timing 2030, Indicator Green Beans members / Target 4 million / Timing 2030, Indicator Number of stores in Vietnam / Target 300-store network / Timing FY2030, Indicator Customer count for the new supermarket model / Target +10% versus FY2025 / Timing Five-year plan target, Indicator Items purchased per transaction under the new supermarket model / Target +20% versus FY2025 / Timing Five-year plan target, Indicator Sales under the new supermarket model / Target +30% versus FY2025 / Timing Five-year plan target, Indicator Private-label ratio / Target 70％ / Timing FY2029 onward, Indicator Store labor cost reduction benefit / Target ¥70–90 billion / Timing FY2030 annual benefit, Indicator CO2 emissions / Target Net zero / Timing By 2040, Indicator PET bottles for private-brand products / Target 100% conversion to recycled or plant-based materials / Timing By 2030
Size of the Target MarketDomestic entertainment market: ¥4.2 trillion in 2021, ¥5.9 trillion in 2024 and ¥6.9 trillion in 2030. Source: Not disclosed.
Risks identified by the company
Persistent cost pressures (products, energy and interest rates)
Worsening Labor Shortages
Procurement instability due to expanding geopolitical risks
Intensifying price competition (rise of discount stores)
The arrival of an era of large-scale industry realignment
Changes in customer needs
Further acceleration in the adoption of AI in addition to EC and OMO
Continued growth of the ASEAN economy
| Item | Details |
|---|---|
| Plan name | Group Medium-Term Management Plan (FY2026–FY2030) |
| Plan period | Fiscal years 2026–2030 |
| Progress against the plan | Formulated |
| Sales Target | 10.7 (FY2025 actual) → 15 (FY2030 target, operating revenue)（+7.0% (FY2025–FY2030 CAGR)） |
| Operating profit target | 2,704 (FY2025 actual) → 5,300 (FY2030 target)（+14.4% (FY2025–FY2030 CAGR)） |
| Operating profit margin target | 2.5% (FY2025 actual) → Not disclosed |
| ROE target | 6.4% (FY2025 actual) → At least 8.5% (FY2030 target) |
| Total investment plan | Capital expenditures of ¥2.4 trillion (cumulative over five years) |
| Investment amount by sector | Field Structural reform of the food retail earnings model (infrastructure investment allocation) / Amount ¥300–400 billion, Field Transition to the new supermarket model (revitalization investment) / Amount Approximately ¥300 billion, Field Strategic funds (M&A or debt repayment) / Amount ¥500 billion or more |
| Segment target | Segment Domestic developer, entertainment and services businesses / Indicator Operating profit / Target ¥150 billion, at least 1.4 times FY2025 / Timing FY2030, Segment Vietnam business / Indicator Operating revenue / Target More than ¥300 billion / Timing FY2030, Segment Vietnam business / Indicator Operating profit / Target Approximately 4 times / Timing FY2030, Segment Tokyo metropolitan area business / Indicator Operating revenue / Target Approximately ¥2.4 trillion, No. 1 share in the Tokyo metropolitan area / Timing 2030, Segment GMS / Indicator Operating profit / Target Approximately double or more / Timing FY2030 |
| Non-financial targets | Indicator Topvalu sales / Target ¥2 trillion, 30% of total sales / Timing FY2030, Indicator NB group joint procurement ratio / Target 45％ / Timing FY2030, Indicator Number of My Basket stores / Target 2,500-store network / Timing 2030, Indicator Green Beans members / Target 4 million / Timing 2030, Indicator Number of stores in Vietnam / Target 300-store network / Timing FY2030, Indicator Customer count for the new supermarket model / Target +10% versus FY2025 / Timing Five-year plan target, Indicator Items purchased per transaction under the new supermarket model / Target +20% versus FY2025 / Timing Five-year plan target, Indicator Sales under the new supermarket model / Target +30% versus FY2025 / Timing Five-year plan target, Indicator Private-label ratio / Target 70％ / Timing FY2029 onward, Indicator Store labor cost reduction benefit / Target ¥70–90 billion / Timing FY2030 annual benefit, Indicator CO2 emissions / Target Net zero / Timing By 2040, Indicator PET bottles for private-brand products / Target 100% conversion to recycled or plant-based materials / Timing By 2030 |
| Plan assumptions | Figures under this medium-term management plan have been calculated without applying the new lease accounting standard, Approximately ¥190 billion in higher labor, utilities and energy costs due to environmental changes exceeding expectations, Domestic entertainment market: ¥4.2 trillion in 2021, ¥5.9 trillion in 2024 and ¥6.9 trillion in 2030, Heat map of projected total population in 2050 (2020 = 100), Persistent cost pressures for products, energy and interest rates, Continued growth of the ASEAN economy |
| Key initiatives | Build a high-profitability portfolio, Reform the earnings structure of the food retail business, Complete the business structure reforms, Renew the financial structure, Renew the gross profit structure, Renew the expense structure, Transition to the new supermarket model, Expand market share in the Tokyo metropolitan area, Establish a drug and food format (expand customer touchpoints), Evolve into a comprehensive health and wellness business, including services centered on health, Create customer-attracting core businesses, Scale up the basic categories, Strengthen specialty zones, Launch and discontinue categories, Accelerate business growth in Vietnam, the highest-priority country |
| Size of the Target Market | Domestic entertainment market: ¥4.2 trillion in 2021, ¥5.9 trillion in 2024 and ¥6.9 trillion in 2030. Source: Not disclosed. |
| Risks identified | Persistent cost pressures (products, energy and interest rates), Worsening Labor Shortages, Procurement instability due to expanding geopolitical risks, Intensifying price competition (rise of discount stores), The arrival of an era of large-scale industry realignment, Changes in customer needs, Further acceleration in the adoption of AI in addition to EC and OMO, Continued growth of the ASEAN economy |
| Publication date | 11 May 2026 |
Items this document does not state (9)
Net income targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceResults under the previous planReason for revision or withdrawalDate 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.The Group is transitioning to a phase in which it converts changes in customer needs and the advances of digital technology and AI into growth and profit, by leveraging the business foundation built and strengthened under the previous medium-term management plan.
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