KIMURA CO.,LTD.
7461・Standard Market・Wholesale Trade
Business
Kimura Co., Ltd. is a comprehensive building materials and housing materials group headquartered in Sapporo, Hokkaido, founded in 1951. As a holding company, it directly operates the Wholesale Business (housing hardware, building materials, Ventilation-related Products (Air save), etc.), while subsidiary Joyful AK operates the Retail Business, running Hokkaido's largest chain of 5 Home Center (Joyful AK) stores, 5 Pet Specialty Store locations, and 2 Materials Specialty Store locations. Kimura Lease handles the Scaffolding Rental Business, and Toyo Glass Kogyo handles the Sash & Glass Installation Business. In the Real Estate Business, both the parent company and Joyful AK conduct leasing and condominium sales. Of the consolidated net sales of ¥37,165 million, the Retail Business accounts for approximately 65% and the Wholesale Business accounts for approximately 26%, forming a two-pillar structure. Main customers are housing contractors, general consumers, and building construction-related businesses within Hokkaido.
Business Model
In the Wholesale Business, the company sells building materials and ventilation-related products to housing construction companies through proposal-based sales, creating added value with original products such as Ventilation-related Products (Air save). The Retail Business sells a wide range of items to general consumers through a large-scale store network of Home Center (Joyful AK) and Pet Specialty Store locations. The Sash & Glass Installation Business and the Scaffolding Rental Business generate group-wide synergies through collaboration with the Wholesale Business. The Real Estate Business secures high profit margins through Real Estate Leasing income and Condominium Sales (The Sapporo Towers), contributing to the stability of earnings across the group as a whole.
Company Strengths
The subsidiary Joyful AK operates 5 Home Center (Joyful AK) stores, 5 Pet Specialty Store outlets, and 2 Materials Specialty Store locations within Hokkaido, and newly opened the Kushiro store in July 2025. In FY2026 (ending March 2026), Retail Business net sales reached ¥24,135 million, accounting for approximately 65% of consolidated net sales, with the overwhelming store network and trading area coverage within Hokkaido serving as a key differentiator versus competitors.
In FY2026 (ending March 2026), the Real Estate Business achieved net sales of ¥1,375 million against operating income of ¥748 million, representing an operating margin of 54.4%. Continued recognition of sales proceeds from Condominium Sales (The Sapporo Towers) and stable operation of leased assets contributed to a 13.9% year-on-year increase in operating income. The segment functions as a highly profitable business that underpins overall group earnings.
In the Wholesale Business, the company develops and sells original Ventilation-related Products (Air save), including the ductless total heat exchange ventilation system "Air save," and is promoting expansion into the Honshu market in addition to its Hokkaido base established since founding. Starting from the Tokyo sales office opened in 1971, the company maintains sales offices in the Kanto region, Sendai, Osaka, Nagoya, Fukuoka, and other locations, building a nationwide sales network.
ENVALITH's Perspective
Performance Trend
Revenue was ¥37,165 million (up 2.5% year on year), maintaining five consecutive periods of revenue growth, but profits declined sharply: operating profit was ¥1,067 million (down 45.2% year on year), ordinary profit was ¥1,127 million (down 45.6%), and profit attributable to owners of parent was ¥707 million (down 40.3%). The main causes were opening expenses for the Kushiro store in the Retail Business and an increase in SG&A expenses (up ¥1,223 million year on year) due to wage increases and other factors, as well as a sharp rise in interest expenses (from ¥27 million to ¥99 million year on year). As an external factor, a significant decline in housing starts in Hokkaido (down 26.6% year on year) directly hit the Wholesale Business. For FY2027 (ending March 2027), revenue is forecast at ¥39,000 million (up 4.9%) and operating profit at ¥1,300 million (up 21.8%), but net profit is projected at ¥643 million (down 9.1%), indicating that a full-fledged recovery in profit levels will take time.
Growth Strategy
Multifaceted growth strategy centered on store expansion, enhancement of original products, and maximization of group synergies
In FY2026 (ending March 2026), the Joyful AK Kushiro store was opened, expanding the store network within Hokkaido. In the next fiscal year, while expecting the one-time store-opening costs to have run their course, the company will promote measures to recover existing-store sales and address cost increases such as wage hikes, aiming to improve the profit margin of the Retail Business. It will continue to differentiate its physical stores through enhanced customer service capabilities and experience-oriented store design.
The company is promoting sales enhancement and appropriate pricing centered on ventilation-related products such as Ventilation-related Products (Air save). While capturing demand arising from revisions to the Building Standards Act and the Building Energy Efficiency Act, it aims to boost sales amid the slump in housing starts through new product development and the cultivation of new procurement routes. It is also working to optimize selling, general and administrative expenses to secure profitability.
The company is promoting a shift in sales strategy from single-family housing to scaffolding construction for mid- and high-rise buildings. With the introduction of Construction Scaffolding Rental (Next-Generation Scaffolding) materials, orders have been trending steadily, and the company aims to improve construction capability through standardization of construction work, technical guidance, and enhanced safety patrols, as well as improve profitability through operational efficiency. In FY2026 (ending March 2026), the operating loss improved to nearly zero (compared with a loss of ¥20 million in the previous fiscal year).
Based on the delivery status of the Condominium Sales (The Sapporo Towers) project, the company plans to continue appropriately recognizing sales proceeds in the next fiscal year as well. Through appropriate management and efficient operation of leasing assets, it aims to maintain stable, high profitability and support the group's overall earnings.
In the Sash & Glass Installation Business, the company aims to expand its business scope by maintaining steady order trends for rental properties and large-scale facilities while fully leveraging synergy effects as the Kimura Group (collaboration with the Wholesale Business and Scaffolding Rental Business). The operating profit margin for FY2026 (ending March 2026) remained at a high level of 11.5%.
Last updated: July 19, 2026