SHINOZAKIYA,INC.
2926・Standard Market・Foods
Retail Business
Core tofu-version SPA segment operating 30 directly managed "Sandaime Mozo" stores
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (H1 FY2026 (ending March 2026)) | ¥1,498 million | ¥1,360 million | ↑ |
| Segment profit (operating profit) (H1 FY2026 (ending March 2026)) | ¥134 million | ¥130 million | ↑ |
| Net sales YoY change | up 10.1% | – | ↑ |
| Segment profit YoY change | up 3.6% | – | ↑ |
| Average customer count per store (YoY) | 102.6% | – | ↑ |
| Average customer item count per store (YoY) | 101.6% | – | ↑ |
| Number of directly managed stores | 30 stores | 30 stores | — |
| Impairment loss (Retail Business) | less than ¥1 million (¥611 thousand) | ¥7 million (¥7,717 thousand) | ↓ |
Business Details
The core segment of the manufacturing-retail (tofu-version SPA) model, which plans, develops, and sells tofu, soy milk, and other soybean-processed foods. It sells directly to consumers through 30 directly managed stores under the "Sandaime Mozo" (Third-Generation Mozo) brand. Under the concept of "better products at lower prices," the segment is pursuing the development and enhancement of health-themed "Mozo Original Products," pursuing a strategy that combines raising customer spend per visit with acquiring new customers. This is the main business, accounting for approximately 90% of consolidated net sales.
Recent Overview
Net sales up 10.1% and margins improved; H1 remained solid with customer counts also recovering
In H1 FY2026 (ending March 2026) (October 2025 to March 2026), Retail Business net sales were ¥1,498 million (up 10.1% year on year), and segment profit was ¥134 million (up 3.6% year on year). The average customer count per store turned to recovery at 102.6% year on year, and the customer item count also improved to 101.6% year on year. The gross profit margin improved due to the review of product specifications. The impairment loss related to unprofitable stores shrank significantly to ¥611 thousand from ¥7,717 thousand in the prior-year period. The number of directly managed stores remained unchanged at 30.
Key Products
Growth Drivers
- Countermeasures against customer attrition and improvement in gross profit margin through the development of new products at accessible price points and review of existing product specifications
- Increased visit frequency among highly motivated customer segments through "morning markets" and substantial revisions to in-store product offerings (average customer count per store: 102.6% year on year)
- Improved productivity per store through thorough information sharing with sales staff via remote meetings
- Sales expansion through event sales at well-located venues such as Kokubunji Marui and Keio Seiseki Sakuragaoka
- Enhanced brand strength and expansion of high-value-added products through continued strengthening of health-themed "Mozo Original Products"
Risks
- Increased labor costs due to rises in the minimum wage (salaries and allowances of ¥49 million and miscellaneous wages of ¥138 million included in SG&A for the current interim period both increased year on year)
- Risk of rising purchase prices due to soaring raw material costs
- Significant impact on results from external factors such as weather, making it difficult to disclose full-year earnings forecasts
- Risk of recording impairment losses related to unprofitable stores (although reduced to ¥611 thousand in the current interim period, continued monitoring is necessary)
- Maintaining and securing customer counts amid rising prices (responding to customer attrition from price increases remains an ongoing challenge)
Last updated: December 15, 2025