ICHIMASA KAMABOKO CO.,LTD.
2904・Standard Market・Foods
Fish Paste Products & Prepared Foods Business
The core business of Ichimasa Kamaboko, accounting for approximately 88% of consolidated net sales, comprising the manufacture and sale of fish paste products and prepared foods.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment net sales (nine months ended, FY2026 ending March 2026) | ¥24,700 million | ¥24,100 million (nine months ended, FY2025 ending March 2025) | ↑ |
| Segment operating income (nine months ended, FY2026 ending March 2026) | ¥865 million | ¥1,041 million (nine months ended, FY2025 ending March 2025) | ↓ |
| Segment net sales (full year, FY2025 ended March 2025) | ¥30,470 million | — | — |
| Segment operating income (full year, FY2025 ended March 2025) | ¥1,008 million | — | — |
Business Details
This segment manufactures and sells fish paste products and prepared foods such as kamaboko, crab-flavored kamaboko, hanpen, and chikuwa, made primarily from surimi. While the domestic market is the main focus, the company is also expanding overseas through its Indonesian consolidated subsidiary PT.KML ICHIMASA FOODS. The segment offers a wide product lineup, including stick-type crab-flavored kamaboko, shelf-stable and convenience-oriented products, and osechi (New Year) products (kamaboko, datemaki), as well as "Kyoroku," a product that received the Minister of Agriculture, Forestry and Fisheries Award. Since March 2025, the company has implemented price revisions to improve profitability.
Recent Overview
Sales increased year on year due to the price revision and volume growth, but profit declined significantly due to rising costs.
In the nine months ended March 2026 (FY2026 ending March 2026, July 2025 to March 2026), net sales of the Fish Paste Products & Prepared Foods Business were ¥24,700 million (up ¥600 million, or 2.5%, year on year). This was driven by higher unit sales prices resulting from the price revision implemented for deliveries from March 1, 2025, growth in sales volume of stick-type crab-flavored kamaboko, steady performance of the Hanpen Product Line, and growth of the osechi "Jun" series. On the other hand, segment operating income decreased by ¥176 million to ¥865 million from ¥1,041 million in the same period of the previous fiscal year. Rising costs of raw materials, including the main raw material surimi, and rising labor costs significantly pressured profit. Despite efforts to improve productivity and achieve ongoing cost reductions, the company was unable to fully absorb the impact of the cost increases.
Key Products
Growth Drivers
- Continued effect of higher unit sales prices from the price revision implemented in March 2025
- Growth in sales volume centered on stick-type crab-flavored kamaboko
- Steady demand for the Hanpen Product Line amid heightened thrift consciousness due to inflation
- Growth in osechi products, including the high-quality "100% domestic ingredients" "Jun" series
- Deployment of a high-value-added product lineup including "Kyoroku," a Minister of Agriculture, Forestry and Fisheries Award-winning product
- Strengthened overseas production and sales structure through consolidation of the Indonesian subsidiary PT.KML ICHIMASA FOODS
- Efforts toward factory rationalization, labor-saving, and productivity improvement through DX and FA systems
Risks
- Risk of continued high prices due to expanding global demand and tightening supply of surimi, the main raw material
- Profit pressure from continued increases in labor costs and energy costs
- Slowing growth of the domestic fish paste products market due to the declining birthrate, aging population, and population decline
- Impact on exports from the strengthening of reciprocal tariff policy by the United States
- Continuation of import suspension measures on Japanese seafood products by China and Hong Kong (including products from Niigata Prefecture)
- Risk of demand decline due to heightened consumer thrift consciousness and cost-of-living awareness
- Risk of being unable to fully pass on increased raw material and labor costs through price increases
Last updated: September 22, 2025