Life Intelligent Enterprise Holdings Co.,Ltd.
5856・Standard Market・Retail Trade
Business
LIEAH, Inc. is a pure holding company established in 2004 through a share transfer. With 13 consolidated subsidiaries and 2 non-consolidated subsidiaries, it operates a diverse range of businesses including meat wholesale (F Meat Co., Ltd.), alcoholic beverage manufacturing (Oimatsu Shuzo Co., Ltd.), education-related (Soiku, Soken, TransCool), renovation-related (Nagomi Sekkei Co., Ltd.), welfare services (MAG Partners Co., Ltd. and others), travel (Phoenix Entertainment Tours Co., Ltd.), and non-life insurance agency business, among others. In July 2024, the company withdrew from the Gyomu Super franchise business (Food Distribution Business) and is currently advancing the restructuring of its business portfolio. Its major customers span a wide range, including the ready-to-eat and food service industry (meat wholesale), general consumers and distributors (alcoholic beverages), junior high schools and cram schools (education), condominium management associations (renovation), and inbound travelers from the Asian region (travel).
Business Model
A structure in which each subsidiary generates earnings in its own independent business area, while the holding company handles management control and capital allocation. Revenue sources are as follows: the meat wholesale business earns wholesale margins through purchase price optimization and expansion of business partners; the alcoholic beverage manufacturing business earns margins from manufacturing and selling its proprietary shochu and sake brands; the education-related business earns revenue from producing and selling educational materials and from venue-based test operation fees; the renovation business earns contract revenue from Large-Scale Condominium Renovation Works; the welfare services business earns nursing care compensation and independence support benefit payments from facility users; and the travel business earns inbound travel arrangement commissions.
Company Strengths
In May 2024, the company established F-Meat Co., Ltd. and succeeded to the meat wholesale division of Bon Sante Co., Ltd. It achieved full-year net sales of ¥3,386 million for FY2025 (ended March 2025) (up 50.7% year on year), establishing within a short period a wholesale sales platform centered on fresh meat for the eat-in and eat-out industries.
In July 2024, the company transferred all shares of Bon Sante Co., Ltd., recording a gain on sale of shares of affiliated companies of ¥3,809 million. As a result, net assets improved significantly to ¥2,933 million (up ¥1,305 million from the previous fiscal year), and cash and cash equivalents rose to ¥2,830 million (up ¥2,329 million from the previous fiscal year).
Oimatsu Shuzo Co., Ltd. owns proprietary brands including Honkaku Barley Shochu "Enma," "Shin ENMA," and "Koujiya Denbei," Sake "Sansui," and Liqueur "Rien." Net sales of the Alcoholic Beverage Manufacturing Business for FY2025 (ended March 2025) were ¥1,834 million, and the loss amount was significantly reduced from ¥579 million to ¥20 million compared to the previous fiscal year.
ENVALITH's Perspective
Performance Trend
Revenue for the first half of FY2026 (ending March 2026) was ¥3,784 million (down 40.5% year on year). The sharp decline in the prior-year comparable period was mainly due to the reduction in business scale following the divestiture of the Food Distribution Business (Bon Sante). Operating loss improved to ¥510 million from ¥1,037 million in the same period a year earlier, but this was due to the reaction from a large loss of ¥666 million recorded in the Education-Related Business in the prior-year period. As external factors, persistently high raw material prices, transportation costs, and labor costs weighed on profitability across all segments, including the Meat Wholesale Business, Alcoholic Beverage Manufacturing Business, and Education-Related Business. The full-year earnings forecast has been revised to revenue of ¥6,434 million, an operating loss of ¥868 million, and a net loss of ¥759 million, pointing to a large net loss for the second consecutive fiscal year. Looking at the trend over the past five fiscal years, the company posted an operating profit of ¥647 million in FY2021, but losses have widened since FY2023, reflecting an ongoing structural deterioration in profitability.
Growth Strategy
Aiming to establish a profitable business structure through business restructuring and portfolio optimization via selection and concentration
Promoting a review of the cost structure and productivity improvements in response to rising raw material prices and transportation costs. The segment loss for the first half of FY2026 (ending March 2026) was ¥27 million, an improvement of ¥60 million year on year, confirming a trend toward narrowing losses, although a turnaround to profitability has not yet been achieved.
Through a review of low-profitability products and unprofitable transactions and cost reductions, the segment loss was significantly narrowed to ¥175 million in the first half of FY2026 (ending March 2026), compared to ¥666 million in the same period of the previous year. However, profitability remains challenging due to persistently high personnel and production costs, and a fundamental measure for turning the business profitable has not yet been established.
As part of the business restructuring currently underway, the company plans to transfer shares in subsidiaries, and anticipates an inflow of funds upon receipt of the sale proceeds. This is positioned as a measure to address material events that raise substantial doubt about going concern, but the specific target, timing, and amount have not been disclosed.
The company is developing an employment support business (net sales of ¥85 million) centered on JADEX Welfare Services Co., Ltd., as well as a travel business specializing in inbound visitors to Japan (net sales of ¥134 million). Both are in the startup phase and continue to record operating losses, with challenges including expanding the number of facilities, acquiring users, and strengthening business bases.
Last updated: July 17, 2026