MORITO CO., LTD.

Business Details

In Japan, the segment operates three categories: apparel-related materials (garment supplementary materials such as fasteners and buttons), product-related materials (life industry materials for health, gaming, outdoor goods, etc.), and transportation-related materials (automotive interior parts). Consolidated subsidiaries Ms.ID Corporation, Mitsuboshi Corporation, and Kyuei Seisakusho Co., Ltd. are responsible for these operations. The segment is also focusing on expanding its BtoC business (leveraging e-commerce platforms).

Recent Overview

Net sales rose 36.3% and profit rose 24.0%, marking significant growth in both revenue and profit, driven by M&A effects and strong domestic demand

In H1 FY2026 (ending November 2026) (December 1, 2025 to May 31, 2026), the Japan segment recorded net sales of ¥24,598 million (up 36.3% year on year) and segment profit of ¥1,502 million (up 24.0% year on year). In addition to the consolidation effects of Ms.ID Corporation and Mitsuboshi Corporation, healthcare-related products, gaming-related products, and the kitchen equipment-related services business performed well. Furthermore, effective April 1, 2026, the company made Kyuei Seisakusho Co., Ltd., a manufacturer of precision metal-processed products, a consolidated subsidiary (acquisition cost ¥200,000 thousand; goodwill ¥413,823 thousand, provisional), advancing the expansion of manufacturing functions. While materials for fashion apparel remained sluggish, silver accessories, uniforms, and accessories for luxury bags increased.

Key Products

Growth Drivers

• Structural expansion of net sales through the consolidation of Ms.ID Corporation and Mitsuboshi Corporation (Japan segment net sales up 36.3% YoY in H1)
• Expansion of manufacturing functions and strengthening of global niche-top position in the apparel market through the new consolidation of Kyuei Seisakusho (effective April 1, 2026)
• Strong sales of new product categories such as healthcare-related products, stationery and gaming-related products, and heat-countermeasure products
• Continued growth of the kitchen equipment rental, sales, and cleaning business (Ace Koki)
• Increase in silver accessories, uniform-related materials, and accessories for luxury bags
• Acquisition of new business through the development and sale of sustainable products (MURON® and ASUKAMI®)
• Strengthened marketing and sales for the BtoC business (Ms.ID Corporation) leveraging e-commerce platforms
• Continued advancement of M&A as a key initiative (expanding manufacturing functions) under the 8th Medium-Term Management Plan

Risks

• Sluggish performance of materials for fashion apparel and demand volatility risk in the domestic apparel market
• Downward pressure on transportation-related sales due to struggles at some Japanese automakers
• Increased procurement costs due to rising resource, raw material, and labor costs
• Goodwill amortization burden from newly consolidated subsidiaries (Ms.ID, Mitsuboshi Corporation, Kyuei Seisakusho); goodwill of ¥413,823 thousand for Kyuei Seisakusho is provisional, with the amortization period still under calculation
• Risk of stagnant autumn/winter apparel demand due to climate factors such as prolonged heat or mild winters
• Rising labor costs and increasing difficulty in securing human resources due to the declining birthrate, aging population, and labor shortages
• Rising procurement risks and costs stemming from Middle East tensions