HASEGAWA CO., LTD.
8230・Standard Market・Retail Trade
Hasegawa East Japan (Buddhist Altars & Gravestones)
The Group's largest segment, responsible for Buddhist Altars & Fittings, Gravestones retail sales in the East Japan area
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Full Year, East Japan Total) | ¥14,859 million | ¥15,728 million | ↓ |
| Segment Profit (Full Year, East Japan Total) | ¥989 million | — | ↓ |
| Net Sales (Cumulative Q3, East Japan Total) | ¥10,528 million | ¥11,110 million | ↓ |
| Segment Profit (Cumulative Q3, East Japan Total) | ¥293 million | ¥648 million | ↓ |
| Depreciation (Full Year, East Japan) | ¥210 million | — | — |
Business Details
The core segment of the Hasegawa Group, conducting retail sales of Buddhist altars/fittings and gravestones through directly operated stores in the East Japan area. In the Buddhist Altars & Fittings Business, the company operates four product brands (H PREMIUM, LIVE-ing, HASEGAWA Standard, and MIND STYLE), while in the Gravestone Business it promotes the development and consignment sales of proprietary tree-burial (jumokusou) plans in addition to conventional gravestones. Full-year net sales for FY2025 (ended March 2025) of ¥14,859 million accounted for approximately 70.0% of the Group's total (¥21,228 million), making it the largest segment.
Recent Overview
In the cumulative nine months, both Buddhist Altars & Fittings and Gravestones saw year-on-year declines in revenue, with an impairment loss of ¥5 million recorded
In the cumulative nine months of the third quarter of FY2026 (ending March 2026) (April-December 2025), Buddhist Altars & Fittings sales in East Japan were ¥8,141 million (down 4.0% year on year), and gravestone sales were ¥2,387 million (down 9.2% year on year), bringing the East Japan total to ¥10,528 million (down 5.2% year on year). Segment profit was ¥293 million (a significant decrease from ¥648 million in the same period of the previous year). In addition, an impairment loss of ¥5 million on fixed assets was recorded in the East Japan segment. On a full-year basis, an increase in selling, general and administrative expenses (due to rising personnel costs and intensifying competition for hiring) is putting pressure on profit.
Key Products
Growth Drivers
- Japan's annual number of deaths is expected to trend upward through 2040, expanding the potential customer base within the trading area over the medium to long term
- Increasing trend in the number of orders for interment/memorial services overall due to the expansion of development and consignment sales of proprietary tree-burial plans
- Product differentiation through the four-brand structure and enhanced added value through co-development with external partners (Karimoku Furniture, Kengo Kuma, etc.)
- Synergies from the consolidation of Gendai Butsudan Co., Ltd. as a subsidiary (introduction of Gendai Butsudan products to some sales stores)
- Expansion of online customer acquisition through enhanced web advertising and digital marketing
Risks
- Continued contraction of the religious goods retail market (number of establishments down 46% and annual merchandise sales down 28% from 2014 to 2021)
- Trend toward simplified and smaller products due to changing customer values regarding memorial services, pushing down average selling prices
- Declining profit margins due to rising personnel costs and intensifying competition for hiring (labor cost ratio exceeding 40%)
- Intensifying competition from new entrants from other industries such as home centers and furniture manufacturers
- Continued declining trend in the number of gravestone orders, with a risk that the shift in mix toward tree burials will lower average sales prices
- Impairment loss on fixed assets recorded in the East Japan segment (¥5 million in the cumulative nine months)
Last updated: June 19, 2026