IMURAYA GROUP CO., LTD.

Business Details

The Distribution segment accounts for approximately 91% of Imuraya Group's total sales and is the core segment. Imuraya Co., Ltd. is the center of the BtoC business, manufacturing and selling confectionery, food, daily chilled products, frozen desserts, dim sum, delicatessen items, sweets, and sake. In the BtoB business, Imuraya Foods Co., Ltd. handles OEM contract processing. Overseas, the segment operates in the United States (IMURAYA USA, INC.), China (IBF and IDF), and Malaysia (IMURAYA MALAYSIA SDN. BHD.).

Recent Overview

Nearly all categories saw revenue growth, led by frozen desserts, confectionery, and food, achieving record-high performance.

In FY2026 (ending March 2026), Distribution segment revenue from external customers was ¥48,881 million (up 5.2% year on year), and segment profit was ¥4,417 million (up 4.8% year on year). The "Azuki Bar" series recorded a record-high 335 million units sold. Frozen desserts (up 6.7% year on year), confectionery (up 7.6%), food (up 6.3%), and daily chilled products (up 8.0%) all grew, while dim sum and delicatessen declined 1.5% year on year due to persistently warm winter temperatures. The increase in fixed assets expanded to ¥6,516 million, roughly three times the prior-year level, due to new plant construction. In October 2025, Imuraya Food Service Co., Ltd. was established through a corporate split to advance the growth strategy of the food service business.

Key Products

Growth Drivers

• Continued strengthening of sales of the "Azuki Bar" series and renewal of record-high sales volume (335 million units in FY2026, ending March 2026)
• Enhanced production capacity and development of high-value-added product capabilities through construction of a new frozen dessert plant (scheduled completion in June 2026)
• Cultivation of new categories such as the "Imuraya Kinsei Taiyaki" frozen Japanese sweets series and market expansion
• Steady growth in spouch products and OEM contract processing by Imuraya Foods Co., Ltd.
• Cost reduction and profit margin improvement through price revisions on some products and continuous productivity improvement activities
• Overseas business expansion in the United States, Malaysia, and China (strengthening locally produced ice cream at IMURAYA USA, expanding ASEAN exports at IMURAYA MALAYSIA)
• New store openings in the sweets category (opening of Anna Miller's Minami-Aoyama and imuraya sweets marché Russelia)
• Advancement of growth strategy in the food service business (establishment of Imuraya Food Service Co., Ltd.)

Risks

• Risk of declining seasonal demand for the dim sum and delicatessen category (meat buns, sweet bean buns, etc.) due to persistently warm temperatures
• Profit pressure from persistently high raw material, energy, and logistics costs
• Impact on sales volume from heightened consumer thrift consciousness
• Risk of increased depreciation burden associated with large-scale capital investment such as new plant construction (increase in fixed assets of ¥6,516 million)
• Risk of impairment losses on fixed assets (¥60 million in FY2026, ending March 2026)
• Foreign exchange fluctuation and local economic risk in overseas operations (China, United States, Malaysia)
• Risk of sluggish sales in the VISON category due to declining visitor numbers