Amifa Co.,Ltd.
7800・Standard Market・Other Products
Business
AMIFA Co., Ltd. was founded in 1973 and listed on the TSE Standard Market in 2019 as a specialized manufacturer of lifestyle products. The company plans, manufactures/procures, and wholesales gift wrapping items, design stationery, kitchen and tableware products, flower-related products, and more. Its main customers are the three uniform-price shop operators Seria, Daiso Industries, and Can Do (combined sales share of approximately 88.7%). The company employs a fabless management model without owning its own factories, with overseas contract production accounting for approximately 94% of procurement. It handles approximately 160 million units and approximately 6,000 items annually, with its primary target customers being female consumers. The company operates on two axes: NB Products (National Brand) under the amifa® brand and PB Products (Private Brand) for retail partners.
Business Model
A fabless model in which over 40 in-house designers and 100+ freelance illustrators plan products internally, with production outsourced to factories in Japan and overseas. The renewal cycle of launching approximately 1,900 new items annually helps maintain repeat customers at uniform-price shops, securing a stable order base. One-price products (for 100-yen uniform pricing) account for approximately 92.9% of sales, with the remainder consisting of petit-price products for OEM and general retail.
Company Strengths
The three major clients—Seria (51.6% of sales share), Daiso Industries (21.5%), and Can Do (15.6%)—together account for approximately 88.7% of total sales. Net sales for FY2025 (ended September 2025) reached ¥8,842 million, marking a record high since the company's founding and achieving record sales for the fourth consecutive fiscal year.
The product development division employs over 40 designers, predominantly women, and works directly with more than 100 freelance illustrators. Rather than relying on external licenses, the company maintains its own distinctive brand universe across approximately 1,900 items launched annually, establishing the speed of its product renewal cycle as a competitive advantage.
Having recorded an operating loss of ¥298 million and a net loss of ¥284 million in FY2024 (ended September 2024), the company returned to profitability in FY2025 (ended September 2025) with operating income of ¥270 million and net income of ¥195 million. Cost of sales ratio improved by 4.1 percentage points and SG&A expenses were reduced by 5.1%, resulting in ROE of 9.7%, exceeding the target level of 8%.
ENVALITH's Perspective
Performance Trend
Sales over the past five fiscal years expanded from ¥4,677 million in FY2021 to ¥8,842 million in FY2025, maintaining an upward trend. Although an operating loss of ¥298 million was posted in FY2024, the company achieved a V-shaped recovery to a profit of ¥270 million in FY2025. In H1 FY2026 (ending September 2026) (October 2025 to March 2026), sales reached ¥5,326 million (up 3.7% year-on-year), operating profit reached ¥631 million (up 168.4% year-on-year), and interim net profit reached ¥406 million (up 264.6% year-on-year), representing a substantial increase in earnings. The main drivers were a 5.7-percentage-point improvement in the cost-of-sales ratio (attributable to a decrease in inventory valuation losses compared to the same period of the prior year, cost reductions, and a shift toward NB Products (National Brand)) and reductions in selling, general and administrative expenses. Despite continued yen depreciation acting as external pressure on procurement costs, profitability improvement driven by the company's own efforts was notable. The full-year forecast has been revised upward to sales of ¥9,000 million (up 1.8% year-on-year), operating profit of ¥620 million (up 129.4% year-on-year), and net profit of ¥680 million (up 249.6% year-on-year).
Growth Strategy
Aiming for revenue of ¥10 billion under three pillars: strengthening NB products, evolving into a professional organization, and reinforcing management infrastructure
As a core initiative of the medium-term management plan, the company is promoting the expansion of NB Products (National Brand) under its proprietary brand, amifa®. In the interim period of FY2026 (ending September 2026), NB sales expanded 12.4% year on year to ¥4,159 million, and the sales composition ratio rose. The shift toward high-profitability NB products has directly contributed to an improvement in the cost of sales ratio (5.7 percentage points), confirming the effectiveness of the strategy in numerical terms.
The company is enhancing its ability to propose sales floor layouts to uniform-price shop operators, promoting concentrated investment in best-selling products, and discontinuing unprofitable products. Including a significant decrease in inventory valuation losses recorded in the same period of the prior year, the cost of sales ratio in the interim period of FY2026 (ending September 2026) improved by 5.7 percentage points year on year. SG&A expenses were also reduced by ¥34 million year on year, indicating steady progress in cost structure reform.
In January 2026, the company disposed of 200,000 shares of treasury stock to the Public Interest Incorporated Foundation Amifa Design Art Promotion Foundation, launching initiatives to promote design and art. Head office relocation costs of ¥33 million were recorded as an extraordinary loss in the interim period of FY2026 (ending September 2026). The annual dividend forecast was revised upward from ¥26 in the previous period to ¥30, reflecting enhanced shareholder returns against the backdrop of a recovery in earnings.
Last updated: July 17, 2026