KAMEDA SEIKA CO., LTD.
2220・Prime Market・Foods
Domestic Rice Cracker Business
Core domestic rice cracker manufacturing and sales segment underpinning the Kameda Seika Group's earnings base
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (FY2026 (ending March 2026), full year) | ¥72,309 million | ¥69,748 million | ↑ |
| Operating income (FY2026 (ending March 2026), full year) | ¥5,139 million | ¥4,442 million | ↑ |
| Operating margin (FY2026 (ending March 2026), full year) | 7.1% | 6.4% | ↑ |
| Depreciation and amortization (FY2026 (ending March 2026), full year) | ¥4,173 million | ¥4,135 million | ↑ |
| YoY change in net sales (FY2026 (ending March 2026), full year) | +3.7% | — | ↑ |
| YoY change in operating income (FY2026 (ending March 2026), full year) | +15.7% | — | ↑ |
Business Details
The core segment engaged in the manufacture and sale of rice crackers domestically. It comprises Kameda Seika itself, consolidated subsidiaries such as Ajikaru Co., Ltd., Toyosu Co., Ltd., and Nissin Confectionery Co., Ltd., as well as equity-method affiliate Masuya Co., Ltd. Centered on six priority brands including "Kameda no Kakinotane" and "Happy Turn," the segment is driving a shift toward a competitive strategy focused on unique value proposition. Group companies handling department store and souvenir products are also expanding business by capturing inbound demand. This is the flagship segment, accounting for approximately 52% of consolidated group net sales.
Recent Overview
Both sales and profit increased year on year, driven by price revision effects and growth of priority brands
In FY2026 (ending March 2026), the Domestic Rice Cracker Business achieved net sales of ¥72,309 million (up 3.7% year on year) and operating income of ¥5,139 million (up 15.7% year on year). Five brands—"Kameda no Kakinotane," "Happy Turn," "Kameda no Tsumami-tane," "Kotsubukko," and "Waza no Kodawari"—achieved year-on-year sales growth, while the Mugen series fell below the prior year. On the profitability side, the effects of price revisions, improved product mix from concentration on the six priority brands, efficient execution of sales promotion expenses, and improved production efficiency contributed to a significant improvement in operating margin, from 6.4% to 7.1%.
Key Products
Growth Drivers
- Shift to a competitive strategy emphasizing unique value proposition through concentrated investment in the six priority brands (including anniversary promotions for "Kameda no Kakinotane" and "Happy Turn")
- Continued benefit from price revisions implemented in response to soaring raw material and energy prices (further price revisions planned for FY2027 (ending March 2027))
- Improved production efficiency through capacity expansion for the six priority brands and enhanced group collaboration
- Improved product mix (sales composition) through efficient execution of sales promotion expenses
- Development of new sales channels for department store and souvenir products amid growing inbound demand
- Building an efficient sales structure, including promotion of sales at appropriate prices
Risks
- Upward pressure on manufacturing costs from continued elevated raw rice prices
- Risk of demand decline from consumers' strengthening cost-saving mindset amid prolonged inflation
- Risk of demand bottoming out following additional price revisions (ongoing need for measures to support demand for standard brands)
- Sluggish sales of some priority brands such as the Mugen series
- Profit pressure from rising logistics costs and labor costs
- Risk of impairment of fixed assets (an impairment loss related to Tainai Co., Ltd. was recorded in FY2026 (ending March 2026))
Last updated: June 19, 2026