Yamami Company
2820・Standard Market・Foods
Business
Yamami Co., Ltd. is a specialty manufacturer of tofu and related products headquartered in Mihara City, Hiroshima Prefecture. The company operates three production sites—the Head Office Plant (Mihara City, Hiroshima Prefecture), the Kansai Plant (Koka City, Shiga Prefecture), and the Mt. Fuji Foothills Plant (Suntou District, Shizuoka Prefecture)—and supplies Tofu (Various Sizes), Atsuage (Thick Fried Tofu), Aburaage (Thin Fried Tofu), and other products across a wide area spanning from the Kyushu region to the Kanto region. Its main customers are retailers and wholesalers, and in recent years it has also begun expanding into the Commercial-Use Tofu channel for restaurants and convenience stores. All three plants have obtained FSSC22000 certification, and the company positions food safety and hygiene management as its most important management priority. It moved to the Prime Market in 2022, then changed its listing to the Standard Market in 2023.
Business Model
The company procures raw materials such as soybeans, film, and trays, and mass-produces on highly mechanized and automated production lines to reduce per-unit manufacturing fixed costs and maintain price competitiveness. At the same time, it is working on automating the production of high-value-added products such as pre-cut tofu, achieving both higher unit selling prices and lower costs. Products are sold widely through retail and wholesale channels, and the structure aims to expand business scale by developing commercial-use channels.
Company Strengths
The company continuously implements top-tier capital investment among tofu manufacturers, reducing per-unit fixed manufacturing costs through mechanization and full automation of the manufacturing process. Capital investment for FY2025 (ended June 2025) reached ¥2,924 million, including the renewal of the Aburaage (Thin Fried Tofu) line and the expansion of the Atsuage (Thick Fried Tofu) line. Despite recording depreciation of ¥1,725 million, the company secured operating cash flow of ¥2,787 million.
All facilities—the Head Office Plant (acquired 2014), the Kansai Plant (acquired 2015), and the Fuji Foothills Plant (acquired 2020)—have obtained the international standard FSSC22000 certification. The company practices thorough food safety and hygiene management from manufacturing through shipment, including sample checks of all products, maintaining a high quality standard as a daily delivered food product.
In September 2019, the company constructed the Fuji Foothills Plant in Suntō District, Shizuoka Prefecture, with lines starting sequential operation from 2020. It functions as a full-scale supply base for the Kanto region, Japan's largest market, and has established a wide-area sales network extending from Kyushu to Kanto. Net sales for the first half of FY2026 (ending June 2026) reached ¥11,498 million, continuing an expansionary trend.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive periods, from ¥13,619 million in FY2021 to ¥21,065 million in FY2025. In FY2025, operating profit declined from ¥2,079 million in FY2024 to ¥1,728 million due to rising raw material costs and higher energy prices, but in FY2026, improved manufacturing efficiency and higher selling prices took effect, resulting in a substantial recovery with cumulative nine-month operating profit of ¥1,998 million (up 50.7% year on year). While external headwinds such as price inflation, a weaker yen trend, and persistently high energy prices continue, cost absorption capacity has improved, as reflected in the improvement of gross profit margin (from 20.6% to 23.8%). The full-year forecast remains unchanged at revenue of ¥23,000 million and operating profit of ¥2,500 million (up 44.8% year on year).
Growth Strategy
Continuing to pursue market share expansion through production capacity enhancement via capital investment and development of the Kanto market
Promoting proactive sales expansion into the Kanto region, the largest consumption area in Japan. Leveraging the geographical advantage of the Fujisanroku Plant, the company aims to expand supply to supermarket, convenience store, and food service channels. Cumulative net sales for the first three quarters of FY2026 (ending March 2026) increased 9.9% year-on-year, and it appears that the results of Kanto market development are contributing to sales growth.
Strengthening production capacity through renewal of Aburaage (Thin Fried Tofu) line equipment and addition of an Atsuage (Thick Fried Tofu) line, simultaneously addressing increasing demand and improving manufacturing efficiency. Construction in progress stood at ¥1,417 million as of the end of March 2026, an increase of ¥1,308 million from the end of the previous fiscal year, indicating that capital investment for the next fiscal period is now in full swing.
Continuing to promote mechanization and IoT adoption at manufacturing sites as a key priority, aiming to reduce fixed manufacturing costs per unit. The gross profit margin for the cumulative first three quarters of FY2026 (ending March 2026) improved by 3.2 percentage points year-on-year (from 20.6% to 23.8%), reflecting the effect of improved manufacturing efficiency in the form of improved profit margins.
Continuing to expand high-value-added products, such as items made with 100% Hokkaido-grown soybeans and small-portion tofu products for individual consumption. The company has maintained sales growth even in an external environment where consumers' cost-saving mindset is intensifying, suggesting that the strategy of raising average selling prices through product differentiation is functioning effectively.
Last updated: July 17, 2026