ENVALITH
株式会社フジマック logo

FUJIMAK CORPORATION

5965・Standard Market・Metal Products

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株式会社フジマック logo
FUJIMAK CORPORATION5965

Business

Fujimak Corporation is a commercial kitchen equipment specialist manufacturer founded in 1950, comprising the company and 21 subsidiaries as a group enterprise. Its main customers include the food service industry, lodging facilities, leisure industry, hospitals, and nursing care facilities, and it provides integrated services ranging from kitchen layout consulting to equipment development, manufacturing, sales, installation, and Maintenance & Repair Service. In addition to its domestic manufacturing base (Fukuoka Prefecture), the company has manufacturing bases in China (Shanghai) and Vietnam (Ho Chi Minh City), and sales bases in Singapore, Thailand, Malaysia, the Philippines, Indonesia, the United States, and elsewhere, conducting business globally. Sales for FY2025 (ending March 2025) were ¥47,437 million.

Business Model

Based on a direct-sales system organized by regional business divisions nationwide, the company builds long-term customer relationships by providing a one-stop service ranging from kitchen consulting to equipment sales, installation, and after-sales maintenance. While securing cost competitiveness through a three-site manufacturing base in Japan, China, and Vietnam, group companies such as EPIC Co., Ltd. (import sales) and GCS Co., Ltd. (raw materials and parts sales) collaborate to build added value, adopting a composite earnings model.

Company Strengths

The company has built an integrated in-house group structure covering kitchen layout consulting, and the development, manufacturing, sales, installation, and Maintenance & Repair Service of equipment. Its regionally-focused direct sales organization and nationwide after-sales maintenance network promote ongoing transactions with customers, achieving net sales of ¥47,437 million and a gross profit margin of 33.4% in FY2025.

The company has established a flexible and highly cost-competitive production and supply system by linking three manufacturing sites: Fukuoka Prefecture (Fujimak Neo Co., Ltd.), Shanghai, China (Fujimak Kitchen Equipment (Shanghai) Co., Ltd.), and Ho Chi Minh City, Vietnam (FUJIMAK VIETNAM MANUFACTURING CO., LTD.). It invested ¥1,770 million in capital expenditures in FY2025 and is proceeding with an extension of the Fujimak Neo factory building.

At the end of FY2025, the equity ratio rose 3.9 percentage points year on year to reach 57.4%, with total net assets of ¥26,438 million. Fixed liabilities were compressed to ¥4,803 million, down 21.7% year on year, and the accumulation of retained earnings has strengthened internal reserves, contributing to a stable financial base.

ENVALITH's Perspective

In Q1 FY2026 (ending March 2026), net sales were ¥11,189 million (down 5.5% year on year), operating income was ¥792 million (down 18.8%), ordinary income was ¥786 million (down 23.3%), and net income attributable to owners of the parent was ¥535 million (down 24.1%), with all indicators falling below the same period of the previous year. Against the full-year net sales forecast of ¥47,500 million, the Q1 progress rate remained at just 23.6%, making a recovery over the remaining three quarters essential to achieving the full-year target. As external factors, sluggish external demand stemming from US trade policy and stagnant personal consumption due to price increases are acting as headwinds.

Cost of sales in Q1 decreased to ¥7,128 million (versus ¥7,759 million in the same period of the previous year) in line with the decline in sales, and gross profit remained nearly flat at ¥4,061 million (versus ¥4,081 million). On the other hand, selling, general and administrative expenses increased 5.3% year on year to ¥3,269 million (versus ¥3,105 million), and the structure in which rising fixed costs squeeze operating income continues. The gross profit margin improved to 36.3% from 34.5% in the same period of the previous year, indicating a certain degree of progress from a cost management perspective.

Due to the planned property handover on May 29, 2026, a gain on sale of fixed assets of ¥3,167 million is expected to be recorded as extraordinary income for the current consolidated fiscal year. The full-year forecast for net income attributable to owners of the parent of ¥4,200 million (¥320.46 per share) includes this one-time gain, and should be evaluated separately from underlying earning power. The fact that the forecast for cumulative net income through Q2 is notably high at ¥3,050 million (¥232.71 per share) is also considered to reflect the timing of the recognition of this gain on sale.

Growth Strategy

Four pillars: strengthening the integrated support system, expansion of labor-saving products, overseas expansion, and strengthening the financial base through real estate sale

Further strengthen the integrated service system from consulting to Maintenance & Repair Service, aiming to secure customers and enhance added value. The company positions itself as a total supporter of the food business, aiming to create value that transcends boundaries within the kitchen equipment industry.

In response to growing demand for labor-saving solutions amid labor shortages, the company is strengthening development and sales of labor-saving Commercial Kitchen Equipment (Single Segment). Demand from customers such as the restaurant industry and accommodation facilities remains firm, and the company aims to improve profitability by expanding high-value-added products.

Leveraging manufacturing and sales bases in Singapore, China, Vietnam, and other locations, the company promotes business expansion in Asian markets. With the tailwind of growing inbound consumption, the company aims to strengthen its capability to serve overseas customers.

The company plans to transfer rental real estate located in Shinbashi, Minato-ku, Tokyo (123.84㎡ attributable to the Company and 188.34㎡ attributable to consolidated subsidiary Epic), and expects to record a gain on sale of fixed assets of ¥3,167 million as extraordinary income for the current consolidated fiscal year. This aims to make effective use of management resources and strengthen the financial base.

Last updated: July 17, 2026