ENVALITH
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Mammy Mart Corporation

9823・Standard Market・Retail Trade

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株式会社マミーマートホールディングス logo
Mammy Mart Corporation9823

Business

Mammy Mart Holdings Co., Ltd. (formerly Mammy Mart Corporation), founded in 1965 and headquartered in Saitama City, Saitama Prefecture, is a food supermarket operating group with a base in the Kanto region. In October 2025, the company transitioned to a holding company structure, placing the newly established Mammy Mart Corporation under it. The core supermarket business accounts for over 99% of consolidated sales, with 86 stores in operation as of the end of FY2025 (ending September 2025) (35 Mammy Mart stores, 34 Namazato TOP! stores, and 15 Mammy Plus stores). Subsidiary Saiyu Foods handles fresh food processing, while Mammy Service is responsible for store cleaning, bathing facilities, and funeral services. The company's main customers are general consumers in the Kanto region, and it sells fresh food, general groceries, and daily necessities. Listed on the Tokyo Stock Exchange Standard Market.

Business Model

A vertically integrated food retail model based on procurement strength from CGC (CGC Japan) membership, in-house production of differentiated products at subsidiary Saiyu Foods' fresh food processing center, and sales at store level. The company is driving conversion to two new store formats, "Seisen Ichiba TOP!" and "Mommy Plus," achieving both customer-drawing power through destination items and competitive pricing. It has built a virtuous cycle in which profits generated through low-cost operations via LSP and RPA are reinvested into new store openings and renovation investments.

Company Strengths

For FY2025 (ending September 2025), same-store sales grew significantly by 9.9% year-on-year (customer count up 6.5%, average spend per customer up 3.2%). Despite being in a phase of upfront investment with 6 new store openings and 10 store renovations, the company achieved record-high operating profit of ¥6,744 million and net income of ¥5,246 million.

The company won awards in all 11 entry categories at the 'Obento/Osozai Taisho 2025' (Bento & Prepared Foods Grand Prix 2025), a first in the history of this event. It received a total of 19 awards, including 3 Grand Prizes and 4 Excellence Awards, marking 12 consecutive years of winning and the highest number of awards received in a single year to date. Destination items such as fried chicken (karaage, up 177% year-on-year) and 'Gu! Gu! Gu! Futomaki' (thick sushi roll, up 176% year-on-year) are driving customer traffic.

The company is promoting optimal staff allocation through its LSP (Labor Scheduling Program) and digital investments including RPA, maintaining the labor cost ratio at an appropriate level. Of the ¥7,788 million in capital expenditure for FY2025 (ending September 2025), digital-related investments such as AI demand forecasting and in-house developed operational efficiency apps were also implemented, achieving both productivity improvement and profit assurance.

ENVALITH's Perspective

In the first half of FY2026 (ending March 2026), operating revenue expanded significantly, up 20.9% year on year, while operating income rose only 0.8% year on year, as selling, general and administrative expenses increased 20.6%, from ¥17,547 million to ¥21,156 million. Upfront burdens from six new store openings—depreciation expense (¥1,585 million in the prior-year period → ¥2,168 million in the current period), lease costs, and personnel expenses—have weighed on profit growth. Achieving the full-year forecast (operating income of ¥7,000 million, up 3.8% year on year) will hinge on cost absorption in the second half.

Cash flow used in investing activities expanded from ¥3,146 million in the prior-year period to ¥5,232 million in the current period, driven mainly by ¥4,307 million in acquisitions of property, plant and equipment and ¥1,194 million in lease deposits paid. Short-term borrowings also increased from ¥4,000 million to ¥5,700 million, and the equity ratio declined from 48.8% at the end of the previous fiscal year to 46.4% at the end of the current interim period. Store-opening investment is expected to continue as the final year of the medium-term management plan's "upfront investment phase," making it necessary to continue monitoring trends in financial leverage.

In terms of the market environment, a continuing phase of food inflation carries a tailwind aspect for maintaining and raising average customer spending. On the other hand, as an external factor, a strengthening of consumer thrift orientation would heighten the risk of customer attrition toward low-price competitors (such as discount supermarkets). The company has positioned strengthening its low-price product procurement system and developing signature products as key priorities, and achieving both price competitiveness and differentiation remains an important point to watch for sustaining existing-store customer traffic.

Growth Strategy

The company aims to achieve growth in the final year of its medium-term plan through three pillars: accelerating new store openings, structural reforms, and talent development.

6 new stores were opened in the first half (Ryugasaki, Utsunomiya, Higashikurume, Ota, Niiza, Saitama City), with a full-year plan of 9 new store openings, 1 format-conversion renovation, and 3 revitalization renovations. In April 2026, the Hitachinaka store, the company's second store in Ibaraki Prefecture, is also scheduled to open. The company is accelerating wide-area expansion across the Kanto region.

The company is advancing cost reductions through bulk procurement, logistics efficiency improvements using AI demand forecasting data, optimized staff allocation through LSP (labor scheduling platform) utilization, and development of highly skilled personnel. The fresh fish processing center, which began operations in April 2026, is expected to improve store operational efficiency and enable the provision of high-freshness products, pursuing both differentiation and profitability improvement simultaneously.

The company achieved its largest-ever new graduate recruitment of 159 people. It has set a starting salary of ¥290,000 for new graduates joining in spring 2027 and continues to improve working conditions through measures such as scholarship repayment support and childcare support promotion programs. Having obtained Certified Health & Productivity Management Outstanding Organization 2026 recognition, the company is strengthening its recruitment competitiveness and building the personnel foundation to support business expansion.

The company transitioned to a holding company structure in October 2025, bringing Mammy Mart Corporation in as a newly consolidated subsidiary. It has established a new structure aimed at multifaceted enhancement of corporate value, including effective utilization of human resources, strengthened governance, and enhanced M&A response capabilities.

Last updated: July 17, 2026