Starzen Company Limited
8043・Prime Market・Wholesale Trade
Business
Starzen Co., Ltd. is a comprehensive meat company founded in 1948, forming a group consisting of 19 subsidiaries and 14 affiliated companies. Domestically, it handles the entire chain from production and fattening (including Australian Wagyu) to processing, Ham & Sausage manufacturing, and meat wholesaling, supplying supermarkets, restaurants, food manufacturers, and others through sales offices nationwide. Overseas, through the full acquisition of Australian fattening companies (YORKRANGE and BROAD WATER DOWNS) and the acquisition of a Singapore meat processing and sales company (ADiRECT SINGAPORE), the company is building a global supply chain spanning production through sales to third countries. Of net sales of ¥448,213 million (FY2026 (ending March 2026)), the Meat-related Business accounted for ¥444,921 million, exceeding 99% of the total.
Business Model
Main revenue derives from purchase-sale margins on meat and processed foods, with net sales of ¥448,213 million recorded against cost of sales of ¥404,051 million in FY2026 (ending March 2026). The company combines processing value-added at its own factories (production output of ¥140,113 million) with merchandise procurement (¥264,320 million) for sale through nationwide sales offices. In addition, equity in earnings of affiliates of ¥2,154 million (+47.4% year on year) underpinned recurring profit, with collaboration with affiliated companies such as Prima Meat Packers contributing to earnings stability.
Company Strengths
Operates an integrated business encompassing Australian Wagyu fattening (YORKRANGE and BROAD WATER DOWNS), domestic processing (Starzen Meat Processor), a two-brand export-only lineup consisting of "AKUNE GOLD" and "AOMORI GOLD", and a Singapore sales base (ADiRECT SINGAPORE). Advanced processing technology backed by beef primal cut master craftsmen and a thorough hygiene management system serve as differentiating factors versus competitors.
In the Processed Foods segment, sales reached ¥84,649 million in FY2026 (ending March 2026) (+8.0% year on year), driven by steady growth in the hamburger steak product line. Equity in earnings of affiliates expanded to ¥2,154 million (+47.4% year on year), forming a structure in which the network of 14 affiliated companies, including Purefoods, supplements operating income.
Under a capital and business alliance concluded in 2016, Mitsui & Co., Ltd. holds 9,329,646 shares (as of March 31, 2026). The company has built a value chain cooperation relationship spanning raw material procurement to processing and sales by leveraging Mitsui's livestock business network, contributing to the strengthening of its overseas procurement base.
ENVALITH's Perspective
Performance Trend
Revenue rose for five consecutive fiscal periods, from ¥381,432 million in FY2022 (ended March 2022) to ¥448,213 million in FY2026 (ending March 2026), a +17.5% increase. However, operating profit in FY2026 (ending March 2026) turned slightly negative, coming in at ¥8,762 million (down 3.1% year on year). External factors—soaring chicken prices (due to supply constraints in Brazil and Thailand), elevated local prices for US beef, and rising import costs from yen depreciation—pressured earnings. On the other hand, domestic pork, processed foods, and the export business remained solid, with gross profit improving to ¥44,162 million (up 5.4% year on year). An increase in SG&A expenses to ¥35,400 million (up 7.8% year on year) was the factor behind the decline in operating profit. For FY2027 (ending March 2027), the company forecasts revenue of ¥470,000 million (+4.9%) and operating profit of ¥9,200 million (+5.0%), anticipating a return to growth in both revenue and profit.
Growth Strategy
Advancing profit structure through deeper vertical integration of overseas operations and establishment of a global Wagyu brand
By making YORKRANGE Ltd. and BROAD WATER DOWNS Ltd. (Australian Wagyu fattening) and ADiRECT SINGAPORE Pte. Ltd. (Southeast Asia meat processing and sales) wholly owned subsidiaries, the value chain from production to third-country sales has been vertically integrated. This strengthens supply capacity to high-growth markets centered on Southeast Asia.
In addition to "AKUNE GOLD" (based in Kyushu/Akune), a new brand "AOMORI GOLD" (based in Tohoku) was launched to strengthen stable supply capability. Sales activities toward existing and new business partners are being promoted through active promotional efforts, including exhibiting at "Food Taipei" in Taiwan. The export business performed well during FY2026 (ending March 2026).
In January 2026, the Itami Sales Center was newly constructed and relocated as the core base for the Kansai region. The site area has been expanded to three times and storage capacity to five times the previous scale, achieving sales expansion in the Western Japan area and improved logistics efficiency.
Under the new medium-term management plan with FY2027 (ending March 2027) as its first year, the company aims to evolve into an entity chosen by customers for its value and to capture growth in overseas markets, leveraging its robust domestic and overseas procurement base, product development technology, and the proposal capabilities of its nationwide sales network.
Last updated: July 19, 2026