ASEED HOLDINGS CO.,LTD.
9959・Standard Market・Retail Trade
Vending Machine Operation Retail Business
Retail business aiming to become one of the largest independent vending machine operators in Japan
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (external customers, full year, FY2026 (ending March 2026)) | ¥13,892 million | ¥13,614 million | ↑ |
| Segment profit (full year, FY2026 (ending March 2026)) | ¥274 million | ¥240 million | ↑ |
| Segment assets (full year, FY2026 (ending March 2026)) | ¥4,012 million | ¥3,830 million | ↑ |
| Depreciation expense (full year, FY2026 (ending March 2026)) | ¥66 million | ¥70 million | ↓ |
| Capital expenditure (increase in tangible and intangible fixed assets, full year, FY2026 (ending March 2026)) | ¥41 million | ¥249 million | ↓ |
Business Details
This segment is operated by two domestic companies, Ashead Inc. and Iijima Co., Ltd., and is engaged in the retail sale and operational management of canned/bottled beverages, cup beverages, paper-pack beverages, snack foods, and other products via smart stores (vending machines). It is the group's core segment, accounting for approximately 55% of consolidated sales. The segment is advancing the switchover to cashless-compatible and new-banknote-compatible equipment to improve consumer convenience, while also working to improve profitability through revisions to installation terms and route reorganization to enhance operational efficiency.
Recent Overview
Both sales and profit increased year on year, with continued profitability improvement
In FY2026 (ending March 2026), the Vending Machine Operation Retail Business achieved sales to external customers of ¥13,892 million (prior year: ¥13,614 million) and segment profit of ¥274 million (prior year: ¥240 million), representing increases in both revenue and profit. Segment assets also expanded to ¥4,012 million (prior year: ¥3,830 million). Note that, due to a correction dated June 23, 2026, depreciation expense was revised from the originally announced ¥57 million to ¥66 million, and the amount for the Real Estate Management Business was revised from ¥20 million to ¥10 million; there is no change to the segment total or the consolidated amount recorded.
Key Products
Growth Drivers
- Improved profit margins through vending machine retail price increases and revisions to installation terms
- Improved operational efficiency and profitability through route reorganization and removal of unprofitable machines
- Improved consumer convenience through switchover to cashless-compatible and new-banknote-compatible equipment
- Business scale expansion through M&A and business alliances aiming to become the No. 1 independent operator
- Boost in sales volume from seasonal factors such as rising summer temperatures
Risks
- Rising procurement costs due to successive price increases by manufacturers of products, and difficulty passing these costs on to prices
- Declining sales volume due to consumers' growing thrift consciousness and price sensitivity
- Increased costs associated with cashless compatibility and equipment upgrades
- Rising operating costs due to labor shortages and limits to further operational efficiency gains
- Intensifying competition with vending machine channels led by beverage manufacturers
Last updated: June 23, 2026