Ifuji Sangyo Co.,Ltd.
2924・Standard Market・Foods
Liquid Egg Business
Core group business responsible for the largest-scale manufacturing and sale in Japan's domestic liquid egg market
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales | ¥30,482 million | ¥23,675 million | ↑ |
| Segment profit | ¥2,695 million | ¥2,908 million | ↓ |
| Liquid egg sales volume | 66,660 tons | Approx. 65,300 tons (prior period estimate) | ↑ |
| Depreciation expense | ¥683 million | ¥470 million | ↑ |
| Increase in tangible and intangible fixed assets | ¥1,898 million | ¥1,622 million | ↑ |
| Segment assets | ¥16,944 million | ¥14,661 million | ↑ |
Business Details
A business that manufactures and sells "Liquid Egg," "Frozen Egg," and "Processed Egg Products" made from cracked and shelled hen eggs, with Ifuji Sangyo Co., Ltd. as the main affiliated company. Approximately 80% of total product and raw material volume has a sales and purchase unit price structure linked to hen egg market prices. Main customers are major food manufacturers, restaurant chains, and prepared food manufacturers, and the business plays the role of a "semiconductor of food," stably supplying core raw materials for commercial processed foods. The company has set a medium-term target of 80,000 tons in liquid egg sales volume and a 20% industry share by FY2030, and is actively promoting capital investment across all plants.
Recent Overview
Sales reached a record high of ¥30,482 million, but profit declined due to expanded capital investment
For FY2026 (ending March 2026), Liquid Egg Business sales rose 28.7% year on year to a record ¥30,482 million. Liquid egg sales volume rose 2.1% year on year to a record 66,660 tons. Against the backdrop of a hen egg supply shortage caused by frequent outbreaks of avian influenza from October 2025 onward, order concentration due to other manufacturers' supply restrictions and increased OEM orders contributed to the results. On the other hand, segment profit was limited to ¥2,695 million, down 7.3% year on year, due to a ¥213 million increase in depreciation expense (from ¥470 million in the prior period to ¥683 million in the current period) and higher personnel expenses.
Key Products
Growth Drivers
- Continued hen egg supply shortage due to frequent avian influenza outbreaks and rising sales unit prices amid high hen egg market prices
- Concentration of orders at the company (mainly for restaurants and prepared foods) and increased OEM orders against the backdrop of supply restrictions by other liquid egg manufacturers
- Record-high liquid egg sales volume (66,660 tons, up 2.1% year on year)
- Pass-through of rising raw material procurement costs and various other cost increases through price revisions
- Expansion of supply capacity through active capital investment across all plants (target of 80,000 tons and 20% share by FY2030)
- Expansion of sales of high-value-added products through increased sales of processed egg products such as chawanmushi base
Risks
- Risk of sudden changes in hen egg market prices and supply-demand balance depending on avian influenza outbreak conditions (high uncertainty makes it difficult to formulate earnings forecasts)
- Profit pressure from continued increases in depreciation expense accompanying expanded capital investment (¥683 million in the current period, up ¥213 million year on year)
- Increase in fixed costs due to continued rises in personnel expenses (base pay increases, starting salary hikes, etc.)
- Risk of declining sales unit prices in a falling hen egg market phase (approximately 80% of sales and purchases are linked to market prices)
- Risk of rising raw material procurement costs and difficulty in procurement due to continued structural supply shortages in the poultry farming industry
Last updated: June 26, 2026