KURADASHI. CO.,Ltd.

Business Details

The company purchases food products slated for disposal from partner companies and sells them to members at discounted prices through the social good market "Kuradashi," as its core business. It also operates offline stores (Kuradashi Hub), branding support services (Kuradashi Stores), a frozen delivery meal service "Dr.Tsurukame Kitchen," an online cooking class "L'atelier de SHIORI," and a grid-connected battery storage business. The company adopts a "win-win-win" business model that donates a portion of sales proceeds to social contribution organizations. Under the medium-term management plan theme of "Becoming Infrastructure for Food Loss Reduction," the company aims for discontinuous growth through deepening existing businesses and exploring new business areas.

Recent Overview

Achieved 11.8% net sales growth and a return to operating profit in cumulative Q3; full-year forecast maintained

For the cumulative nine months of FY2026 (ending March 2026) (July 2025 to March 2026), net sales were ¥2,605 million (up 11.8% year-on-year), EBITDA was ¥200 million (compared to △¥12 million in the same period of the prior year), and operating profit was ¥99 million (compared to △¥79 million in the same period of the prior year), achieving a significant improvement in profit and loss. In addition to steady growth in the e-commerce business, the grid-connected battery storage business (Tochigi Oyama Storage Station), which commenced operations in December 2025, contributed to business expansion. The financial base was strengthened through a third-party allotment of shares to Japan Post in August 2025 (increasing capital stock and capital reserves by ¥256 million each). The full-year performance forecast (net sales of ¥3,607 million, operating profit of ¥168 million) remains unchanged.

Key Products

Growth Drivers

• Growth in active users and average spend per customer in the e-commerce business through expansion of product lineups and efficient marketing activities
• Expanded reach to new, non-digital customer segments through the capital and business alliance with Japan Post, leveraging its nationwide post office network
• Establishment of a new revenue pillar through the commencement of supply-demand adjustment market trading in the grid-connected battery storage business (Tochigi Oyama Storage Station)
• Strengthening of the financial base (equity ratio of 39.6%) and securing flexible investment capacity through a third-party allotment of shares
• Promotion of discontinuous growth through e-commerce business expansion, supply chain function expansion (logistics, private brand development, consulting, etc.), and M&A, based on the medium-term management plan

Risks

• Due to the nature of food loss products, stable supply of specific products is difficult, making continuous securing of product lineups a challenge
• Downside risks to personal consumption from U.S. trade policy impacts and price increases heighten uncertainty regarding the economic outlook
• New businesses such as the grid-connected battery storage business and anonymous partnership investments carry uncertainty regarding the timing and scale of profit contribution
• Continuous investment in advertising and CRM is required to maintain member numbers and active users, entailing cost increase risk
• Impairment risk related to intangible fixed assets including goodwill (¥453 million) associated with subsidiaries Crossedge and L'ATELIER de SHIORI
• Increased interest expense burden (¥16 million in the cumulative third quarter) associated with increased borrowings (long-term borrowings of ¥1,158 million, short-term borrowings of ¥500 million)