MICREED Co.,Ltd.

Business Details

A mail-order business that provides approximately 4,000 items of commercial food ingredients—meat, fish, vegetables, skewers, fried foods, desserts, and more—to small and medium-sized restaurants, primarily independently run izakaya (Japanese pubs), at uniform prices with next-day delivery. The company maintains a 365-day order and shipping system along with an order center operating until 2:00 a.m., meeting restaurants' needs to reduce the burden of procurement and cooking preparation. In March 2026, the number of customer stores reached a record high, giving the company a customer base of over 15,000 stores. The company continues to strengthen its EC site and invest in systems, and is promoting the expansion of Products for Loss Reduction and Labor Shortage Countermeasures.

Recent Overview

In FY2026 (ending March 2026), revenue exceeded the prior-year level in every month, and the number of customer stores reached a record high

Revenue for FY2026 (ending March 2026) was ¥7,671 million (up 13.2% year on year), achieving year-on-year growth in all 12 months. March in particular accelerated to +19.0% year on year. The number of customer stores reached a record high of over 15,000 in March 2026. On the other hand, selling, general and administrative expenses increased to ¥2,199 million (up 12.7% year on year), causing the operating margin to decline slightly to 5.3% (from 5.5% in the prior period). The company made ¥81 million in intangible fixed asset investments for upgrading its EC site and sales/procurement systems. For the next fiscal year (FY2027, ending March 2027), the company forecasts revenue of ¥8,500 million (up 10.8% year on year) and operating profit of ¥450 million (up 10.5% year on year).

Key Products

Growth Drivers

• Continued expansion of the number of customer stores (record high of over 15,000 stores reached in March 2026)
• Expanded reach to potential customers through EC site enhancement and increased web visibility
• Diversification of new customer acquisition channels through agency partnerships
• Increase in customer spending through development of Products for Loss Reduction and Labor Shortage Countermeasures and new products
• Recovering trend in restaurant foot traffic driven by growing inbound demand and wage increases
• Improved convenience through continued system investment in sales/procurement systems and the EC site

Risks

• Rising procurement costs due to higher raw material and energy prices, squeezing the operations of customer restaurants
• Declining profit margins due to rising labor costs (increases in shipping and outsourcing expenses pushing up SG&A expenses)
• Impact on eating-out demand from the narrowing price gap with home meals and prepared foods due to the food consumption tax reduction
• Risk of declining eating-out demand due to rising food prices and increasing consumer thrift consciousness
• Rising energy and logistics costs due to higher crude oil prices amid geopolitical risks such as the situation in the Middle East
• Concentration risk related to the main supplier (Kokubu Group Corporation), which accounts for 44.2% of procurement