Mammy Mart Corporation

Business Details

A food supermarket business selling fresh food as its core offering along with processed foods, prepared dishes, and daily necessities. The company operates three store formats—Mammy Mart, Namazakana Ichiba TOP! (Fresh Food Market TOP!), and Mammy Plus—with 91 stores (as of end of March 2026, excluding bathing facilities and funeral services) across the Kanto region, including Saitama, Chiba, Tokyo, Tochigi, Ibaraki, and Gunma. The segment leverages product development capability and competitive pricing to capture demand from cost-conscious consumers. From October 2025, the group transitioned to a holding company structure, with Mammy Mart Co., Ltd. newly consolidated as a subsidiary.

Recent Overview

Six newly opened stores ramped up smoothly, with both sales and profit reaching record highs.

In H1 FY2026 (October 2025 to March 2026), the focus of investment shifted from format-conversion renovations to new store openings. Six new stores were opened, mainly under the Namazakana Ichiba TOP! format (compared with 3 new openings and 4 format-conversion renovations in the same period of the prior year), along with 2 revitalization renovations. The newly opened stores showed a smooth ramp-up, and operating revenue reached a record high of ¥112,632 million (up 20.9% year on year). On the other hand, due to increased SG&A expenses (up from ¥17,547 million to ¥21,156 million year on year), segment profit growth was limited to 0.8%. In April 2026, the group's first fresh fish processing center became operational, beginning to improve store operating efficiency and provide high-freshness products. At the "Bento and Prepared Foods Grand Prize 2026," the company won a total of 15 awards, including 3 top prizes, achieving 13 consecutive years of recognition.

Key Products

Growth Drivers

• Accelerated new store openings (6 new stores in the current period, 9 stores planned for the full year) driving sales expansion and geographic expansion in the Kanto region (Ibaraki, Tochigi, Gunma, Tokyo, etc.)
• Strengthened competitiveness and increased customer counts in existing trade areas through conversion and expansion of the Namazakana Ichiba TOP! format
• Improved store operating efficiency and enhanced differentiation through provision of high-freshness products via the fresh fish processing center (operational from April 2026)
• Structural reform of procurement, logistics, and operations and cost reduction through DX initiatives such as AI demand forecasting and merchandising systems
• Sustained customer traffic and differentiation through product development capability, exemplified by 13 consecutive years of winning the "Bento and Prepared Foods Grand Prize"
• Improved staffing efficiency and promotion of low-cost operations through use of LSP (labor scheduling planning)
• Securing human capital and laying the foundation for future business expansion through the largest-ever new graduate hiring of 159 people and setting starting salary at ¥290,000

Risks

• Margin pressure from rising depreciation and SG&A expenses (SG&A of ¥21,156 million in H1, up 20.6% year on year) associated with increased investment in new store openings and renovations
• Increased fixed costs due to rising labor cost pressures (base pay increases of 7.8% for full-time employees and 5.8% for part-time staff, with starting salary set at ¥290,000)
• Impact on customer spending per transaction and purchase volume from rising food prices and strengthening consumer cost-consciousness
• Intensifying price and product-lineup competition with rivals in the Kanto region food supermarket market
• Risk associated with the ramp-up of newly opened stores and rising store-opening costs (lease deposits and lease liabilities)
• Increased costs for securing and training personnel (expansion of various benefit programs, scholarship repayment support, childcare support programs, etc.)
• Increased group management costs and organizational integration risk associated with the transition to a holding company structure