YOKOHAMA GYORUI CO., LTD.
7443・Standard Market・Wholesale Trade
Business
Yokohama Uoichiba Co., Ltd. is a marine products wholesale company founded in 1947, engaged in receiving and wholesale operations for marine products at the Yokohama Municipal Central Wholesale Market (Honjo and Nanbu Markets) and the Kawasaki Municipal Central Wholesale Market Northern Market. The group, comprising 3 subsidiaries and 1 affiliate, operates in the Fresh Fish, Frozen, and Salted/Dried Products divisions. Its main customers are intermediate wholesalers within the markets, but in recent years it has been expanding direct sales to mass retailers, specialty fresh fish stores, and mail-order businesses. The company maintains a stable procurement base through a supply relationship with Nissui Corporation (a major shareholder). It also operates the Real Estate Leasing Business (leasing of food processing facilities, etc.) as an independent segment. Listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
The core of profitability is the consignment function of collecting marine products from shippers nationwide and wholesaling them to intermediate wholesalers and market participants at the central wholesale market. In recent years, the company has developed low-temperature processing and logistics facilities "Nanbu Pescamercado" (2016) and the food processing facility "Nanbu Pescamercado II" (2023) within the Yokohama Nanbu Market, creating added value through the sale of processed products to mass retailers and mail-order businesses. In the Real Estate Leasing Business, rental income from these facilities serves as a stable source of profit.
Company Strengths
In 1951, the company obtained a wholesaler license from the Governor of Kanagawa Prefecture based on the Central Wholesale Market Act, and has since continued receiving operations at the Yokohama and Kawasaki central wholesale markets for over 70 years. This business requires authorization from the Minister of Agriculture, Forestry and Fisheries under the Wholesale Market Act, and new entry is institutionally restricted. This license-backed market position is a unique competitive advantage that is difficult for competitors to replicate in a short period of time.
The company independently developed the low-temperature processing and logistics facility "Nanbu Pescamercado" within the Yokohama Nanbu Market in 2016, and the food processing facility "Nanbu Pescamercado II" in February 2023. This has enabled the sale of processed marine products to mass retailers and mail-order businesses, building a sales base with customers outside the market—for example, in FY2026 (ending March 2026), sales to Sotetsu Rosen Fresh Foods Co., Ltd. reached ¥3,483 million (16.6% of total sales).
The company maintains a two-segment structure consisting of the Fresh Fish segment (FY2026 sales of ¥9,742 million, handled volume of 16,522 tons) and the Frozen & Salted/Dried Products segment (sales of ¥11,057 million, handled volume of 16,328 tons). This structure allows the company to adjust its sales composition between segments in response to fluctuations in fish prices and catch trends. In FY2026 (ending March 2026), the handled volume of the Frozen & Salted/Dried Products segment increased 10.1% year on year, offsetting the decline in volume in the Fresh Fish segment.
ENVALITH's Perspective
Performance Trend
Revenue rose gradually from ¥19,928 million in FY2022 (ended March 2022) to ¥20,979 million in FY2026 (ending March 2026). Operating profit improved for five consecutive periods, from ¥△48 million in FY2022 (ended March 2022) to ¥212 million in FY2026 (ending March 2026), with the operating margin reaching 1.0%. External factors such as yen depreciation and poor catches pushed up fish prices, raising the average selling price (Fresh Fish segment: sales volume down 4.1%, sales revenue up 2.5%), while the Frozen & Salted/Dried Products segment benefited from higher sales volume (up 10.1%). However, for FY2027 (ending March 2027), net income is forecast to decline to ¥150 million (down 19.2% year on year) due to margin pressure from rising fish prices and higher personnel and logistics costs, suggesting the improving trend may hit a temporary plateau.
Growth Strategy
Expansion of sales to mass retailers and mail-order operators through the use of food processing facilities, and diversification of off-market sales channels
The Company is expanding sales of processed products to mass retailers and mail-order operators by utilizing food processing facilities such as Nanbu Pescamercado II. In FY2026 (ending March 2026), sales in the Marine Products Wholesale Business reached ¥20,801 million (up 3.9% year on year), achieving increased revenue, with the operation of processing facilities contributing to the sales growth.
The volume handled in the Frozen & Salted/Dried Products segment expanded to 16,328 tons in FY2026 (ending March 2026) (up 10.1% year on year), with sales of ¥11,058 million (up 5.1% year on year). Active sales to mass retailers and others have driven overall sales, offsetting the decline in volume in the Fresh Fish segment.
With the elimination of wasteful expenses as a management policy, the Company aims for sales of ¥21,200 million (up 1.1% year on year) in FY2027 (ending March 2027), even as rising fish prices, personnel costs, and logistics costs are expected. Progress in resolving non-performing receivables (reversal of allowance for doubtful accounts) has also contributed to cost improvement, but a decline in profit is forecast for FY2027 (ending March 2027) due to the fading of this one-time effect.
Last updated: July 19, 2026