ENVALITH
大丸エナウィン株式会社 logo

DAIMARU ENAWIN Co.,Ltd.

9818Standard MarketWholesale Trade

大丸エナウィン株式会社 logo
DAIMARU ENAWIN Co.,Ltd.9818

Living Business

Daimaru Enawin's core segment centered on LP gas sales (accounting for approximately 69% of net sales)

PeriodCurrentPreviousChange
Net sales (FY2026, ending March 2026, full year)¥22,479 million¥24,044 million
Segment profit (operating income) (FY2026, ending March 2026, full year)¥775 million¥737 million
Segment assets (as of end of FY2026, ending March 2026)¥7,437 million¥7,439 million
Depreciation and amortization (FY2026, ending March 2026, full year)¥560 million¥512 million
Increase in property, plant and equipment and intangible assets (FY2026, ending March 2026, full year)¥761 million¥583 million
Share of consolidated net sales (FY2026, ending March 2026)approx. 68.7%approx. 72.0%

Business Details

Comprises three divisions: household, commercial, and industrial propane gas (Poppo Gas), LP gas wholesale (Energy), and residential equipment. The company together with its consolidated subsidiaries and affiliates sells LP gas as an integrated group. With net sales of ¥22,479 million, this segment accounts for approximately 69% of consolidated net sales of ¥32,697 million, making it the core business. Its performance structure is shaped by customer expansion through M&A and by fluctuations in selling prices linked to LP gas purchase prices.

Recent Overview

Net sales declined due to lower LP gas selling prices, but operating income increased due to reduced SG&A expenses

Net sales of the Living Business for FY2026 (ending March 2026) were ¥22,479 million, a decrease of ¥1,564 million (6.5%) year on year. The main cause was a decline in selling prices linked to LP gas purchase prices, with both the Poppo Gas division (down ¥349 million year on year) and the Energy division (down ¥1,297 million year on year) recording lower sales. Gross profit also decreased in line with the decline in net sales; however, because SG&A expenses decreased, segment profit (operating income) increased to ¥775 million, up ¥38 million (5.2%) year on year.

Key Products

product
Poppo Gas

The division that sells household, commercial, and industrial propane gas directly to consumers. Net sales for FY2026 (ending March 2026) were ¥5,763 million (¥6,113 million in the prior period). The company is expanding its number of consumer accounts through the acquisition of business rights via M&A and new customer acquisition.

product
Energy (LP gas wholesale)

The division that conducts LP gas wholesale and lorry (bulk tanker) sales. Net sales for FY2026 (ending March 2026) were ¥12,953 million (¥14,251 million in the prior period). Selling prices are directly linked to LP gas purchase prices, and this period saw a significant decline in net sales due to a drop in LP gas purchase prices.

service
Residential equipment

The division that sells and installs residential equipment such as water heaters and heating appliances. Net sales for FY2026 (ending March 2026) were ¥3,522 million (¥3,543 million in the prior period). This division is affected by fluctuations in orders for renovation work and large-scale equipment installation projects.

Growth Drivers

  • Expansion of Poppo Gas division customer accounts through M&A (acquisition of business rights and new LP gas customer development)
  • Expansion of Energy division sales during periods of rising LP gas import prices
  • Efficiency gains in meter reading and delivery operations and reduction in SG&A expenses through introduction of LPWA (low-power wide-area wireless meter-reading system)
  • Promotion of LP gas-related products through strengthened functions of the Carbon Neutrality (CN) Promotion Department
  • Expanded sales through bundled sales with Aqua products and collaboration among group companies

Risks

  • Risk of fluctuations in selling prices linked to LP gas purchase prices (dependence on commodity market conditions)
  • Decline in household propane gas shipment volumes due to the shift toward all-electric homes and city gas
  • Intensifying competition from retail liberalization of electricity and city gas and the spread of energy-efficient appliances
  • Structural decline in shipment volumes due to population shifts toward city gas service areas
  • Risk of fluctuations in orders for renovation work and large-scale equipment installation projects in the residential equipment division

Last updated: June 30, 2026