ENVALITH
株式会社大光 logo

OOMITSU CO .,LTD.

3160・Standard Market・Wholesale Trade

Official website
株式会社大光 logo
OOMITSU CO .,LTD.3160

Business

Daiko Co., Ltd. is a specialized foodservice trading company founded in 1948, centered on three core businesses: the

Business Model

In the wholesale business, the company secures wholesale margins through solution-based sales that deepen relationships with existing customers and develop new accounts. In the Amika business, directly operated cash-and-carry format stores sell for cash to small-scale foodservice operators and general consumers, generating retail profit while limiting inventory and credit risk. Both businesses roll out private brands (O!Marche, Pro no Sentaku, and JFDA) to improve gross margins. The marine products business generates complementary earnings through intra-group synergies and export sales.

Company Strengths

The Amica business operates 52 stores across 1 metropolis and 7 prefectures, centered on Aichi and Gifu (as of the end of FY2025, ending May 2025), with new store openings in Tsushima (July 2024) and Numazu (October 2024). The store network, built up over more than 30 years since the opening of the first store in 1992, has formed a dominant advantage in the Tokai region, with further openings planned in Matsumoto (July 2025) and Mizunami (October 2025).

The company operates three brands—its own private brands "O!Marche" and "Puro no Sentaku (Professional's Choice)," and "JFDA," a joint brand with food-service business operators—across both the wholesale (Gaisho) and Amica businesses. These brands address diverse needs such as price, quality, health consciousness, and elderly consumers, contributing to higher gross margins than national brands.

The three businesses—wholesale (Gaisho) (net sales of ¥49,455 million), Amica (¥23,245 million), and marine products (¥2,375 million)—mutually complement each other's product lineups. In the marine products business, the company is strengthening its marine product lineup through collaboration with the wholesale and Amica businesses, improving procurement and sales efficiency by capturing demand within the group.

ENVALITH's Perspective

In FY2026 (ending May 2026), net sales increased to ¥79,549 million (up 6.2% year on year), marking six consecutive years of revenue growth, while operating profit fell sharply to ¥159 million (down 80.3% year on year). Selling, general and administrative expenses expanded to ¥14,488 million (up 6.8% year on year), outpacing the rate of sales growth, causing the operating profit margin to decline to 0.2%. Furthermore, an impairment loss of ¥255 million (mainly ¥251 million related to the Amika business) was recorded as an extraordinary loss, limiting net income for the period to ¥57 million (down 89.1% year on year). A fundamental review of the cost structure is deemed urgently necessary.

Segment profit in the marine products business swung sharply from a profit of ¥32 million in the previous period to a loss of ¥294 million in the current period. Despite efforts to promote export sales and strengthen new customer acquisition, the business's inherent vulnerability to rising raw material and logistics costs as well as market fluctuations became evident. Amid continued instability in marine product market conditions as an external factor, there is no clear path to profitability improvement, and this warrants close monitoring as a risk that could weigh on overall group profits.

Short-term borrowings increased to ¥4,619 million (up ¥1,099 million year on year), and long-term borrowings (including current portion) stood at ¥6,211 million, expanding interest-bearing debt. The equity ratio declined to 21.6% (from 23.2% in the previous period), and treasury stock purchases (¥235 million) also weighed on net assets. The outstanding syndicated loan balance of ¥2,125 million carries financial covenants requiring the maintenance of net assets and avoidance of two consecutive years of ordinary loss; although these covenants were not breached in the current period, attention should be paid to the increasing risk of covenant breach should profit levels continue to decline.

Growth Strategy

Rebuilding the profit base through deepening the Wholesale Business, new Amika store openings, strengthening private brands, and expanding marine product exports

Strengthening proposal-based sales activities toward diverse foodservice formats including major restaurant chains, hotels, catering, and hospitals, to deepen transactions with existing clients and acquire new customers. Riding the tailwind of a steady foodservice market driven by rising inbound demand, Wholesale Business sales continued to grow, reaching ¥53,217 million (up 7.6% year on year).

Continuing to open new stores while enhancing the product lineup and strengthening promotional activities utilizing SNS and apps to increase store visitor numbers. However, an impairment loss of ¥251 million was recorded in the Amika Business in FY2026 (ended March 2026), making profitability improvement at existing stores an issue that must be addressed alongside new store openings.

Continuing to promote an increased sales ratio of private brand and JFDA brand products across both the Wholesale and Amika businesses. Gross profit in FY2026 (ended March 2026) increased to ¥14,647 million (from ¥14,378 million in the previous period), indicating continued accumulation of gross profit, but rising selling, general and administrative expenses are pressuring profits, making the combination of gross margin improvement effects with SG&A expense control a key challenge.

Consolidated subsidiary Marine Delica is promoting diversification of export destinations to countries and regions other than China, as well as developing new domestic clients. In FY2026 (ended March 2026), the segment fell into a significant loss of ¥294 million, making thorough profitability management and cost control urgent priorities for an early return to profitability. Instability in marine product market conditions, as an external factor, is heightening uncertainty regarding profit recovery.

In light of the current situation where rising SG&A expenses are significantly pressuring profits, the company is promoting company-wide operational efficiency improvements and logistics cost control. Achieving the FY2027 (ending March 2027) operating profit forecast of ¥630 million (up 295% year on year) requires improvement of the cost structure in parallel with sales growth, and the implementation status of specific measures is drawing attention.

Last updated: July 17, 2026