UORIKI CO.,LTD.

Business Details

The company operates tenant stores mainly in terminal station buildings, department stores, and supermarkets in the Greater Tokyo area, selling fresh fish and takeout sushi to general consumers. Sales from Mogami Sengyo Co., Ltd. (Kyushu/Fukuoka area), which became a consolidated subsidiary in March 2025, contributed significantly, making this the core segment that accounts for the majority of the group's overall net sales and operating income. The Thai joint venture CP-Uoriki Co., Ltd. is also included in this segment.

Recent Overview

Achieved substantial increases in both sales and profit, driven by the consolidation of Mogami Sengyo and higher existing-store sales.

In FY2026 (ending March 2026), net sales in the Retail Business were ¥38,229 million (up 21.3% year on year), and segment profit was ¥1,955 million (up 11.1% year on year). In addition to the contribution from consolidating Mogami Sengyo, existing-store sales exceeded the previous fiscal year. Against a backdrop of rising consumer sentiment and purchasing power, the company strengthened sales of value-added products and implemented appropriate price pass-through. At store level, the company thoroughly controlled costs such as utilities and consumables, reducing SG&A expenses. On a standalone basis, the company opened 1 store and closed 3 stores in the retail business (opening Uoriki Kaisen Sushi Futamatagawa store in September 2025; closing Musashi-Koganei store in July 2025, Mizonokuchi store in March 2026, and Nagoya Meitetsu store in February 2026). At the end of the fiscal year under review, the group's total number of operating retail stores was 141 (90 for the company and 51 for Mogami Sengyo). CP-Uoriki expanded to 32 stores in Thailand and also began supplying takeout sushi to a major convenience store chain.

Key Products

Growth Drivers

• Business expansion into the Kyushu/Fukuoka area and sales contribution from the consolidation of Mogami Sengyo Co., Ltd. (March 2025)
• Existing-store sales exceeding the prior-year level (driven by strengthened sales of value-added products and appropriate price pass-through amid rising consumer sentiment and purchasing power)
• Higher average spending per customer through strengthened sales of high-value-added products (sashimi, sushi made with fresh, natural ingredients, etc.)
• Expansion of CP-Uoriki Co., Ltd.'s store network in Thailand (32 stores as of March 2026) and the start of takeout sushi supply to convenience stores
• Cost reduction efforts through logistics reform (relocation of the collection point to Saitama Prefectural Fish Market and reorganization of delivery routes)
• Building a lean store portfolio (boosting profitability by closing underperforming stores and pursuing opportunities to open large-format stores)
• Rollout of large-format combined store formats (retail and food service) such as The Outlets Kitakyushu

Risks

• Rising procurement costs due to soaring fish prices (caused by poor catches linked to global warming and expanding overseas demand)
• Declining gross margin due to continued increases in logistics costs
• Increased SG&A expenses due to substantial increases in labor costs (wage hikes)
• Constraints on new store openings and impact on store operations due to worsening labor shortages
• Risk of a slowdown in the pace of new store openings due to rising new store opening costs
• Intensifying competition from other business formats such as food supermarkets, convenience stores, and online sales
• Impairment risk on fixed assets (an impairment loss of ¥417 million was recorded in the fiscal year under review due to a change in estimates for asset retirement obligations)
• Continued rise in oil prices and yen depreciation, and continued price increases due to prolonged global instability, including the military conflict in Iran
• Risk of declining average customer spending and visit frequency due to consumers' return to thrift-conscious behavior
• Risk related to the allocation of management resources for the integration and turnaround of Mogami Sengyo