ALMADO（4932 TSE Standard）
＋English Summary on This Page
Manufactures and Sells Cosmetics and Health Foods Using Eggshell Membranes as Raw Material
ALMADO is engaged in the planning, manufacturing and sales of cosmetics and health foods, such as supplements, using eggshell membranes as the main raw material. As eggshell membranes are said to be “a natural bandage,” it is a natural material that has been used for healing wounds from long ago. It has been attracting attention as a material that is useful for beauty and health, but there were issues of scientifically proving its effects and the difficulty to stably manufacture high-quality products at a low price.
As a result of the company’s founder conducting research and development jointly with universities and other companies, the company was able to develop a unique eggshell membrane processing technology that solves the quality and cost issues. The technology also achieved minimal loss of the principal ingredient of eggshell membranes and a low odor intensity. Using the technology, the company has been releasing cosmetics and health foods using eggshell membranes.
The company sells its products through four channels: sales through television-shopping programs, wholesale, OEM sales and e-commerce sales by the company.
With regard to sales through television-shopping programs, there was a time when the company enhanced its business performance through this channel, and it still accounts for close to 30% of its sales. OEM sales is the sales channel in which there is a large fluctuation in sales composition as it accounted for over 40% of its sales in the fiscal year ended March 2020, but dropped 55.2% year-on-year in the fiscal year ended March 2021 due to the influence of trends in suppliers. On the other hand, e-commerce sales continues to grow steadily, accounting for 37.7% of its sales in the fiscal year ended March 2021 and becoming its largest sales channel.
ALMADO is engaged in the planning, manufacturing and sales of cosmetics and health foods, such as supplements, using eggshell membranes as the main raw material. As eggshell membranes are said to be “a natural bandage,” it is a natural material that has been used for healing wounds from long ago. It has been attracting attention as a material that is useful for beauty and health, but there were issues of scientifically proving its effects and the difficulty to stably manufacture high-quality products at a low price.
As a result of the company’s founder conducting research and development jointly with universities and other companies, the company was able to develop a unique eggshell membrane processing technology that solves the quality and cost issues. The technology also achieved minimal loss of the principal ingredient of eggshell membranes and a low odor intensity. Using the technology, the company has been releasing cosmetics and health foods using eggshell membranes.
The company sells its products through four channels: sales through television-shopping programs, wholesale, OEM sales and e-commerce sales by the company.
With regard to sales through television-shopping programs, there was a time when the company enhanced its business performance through this channel, and it still accounts for close to 30% of its sales. OEM sales is the sales channel in which there is a large fluctuation in sales composition as it accounted for over 40% of its sales in the fiscal year ended March 2020, but dropped 55.2% year-on-year in the fiscal year ended March 2021 due to the influence of trends in suppliers. On the other hand, e-commerce sales continues to grow steadily, accounting for 37.7% of its sales in the fiscal year ended March 2021 and becoming its largest sales channel.
概要（レポートから抜粋）
アルマード（以下、同社）は、卵殻膜を主原料とした化粧品や健康食品（サプリメント）の企画、製造、販売を行う会社である。卵殻膜は「天然の絆創膏」と言われるように、昔から創傷治癒のために使用されてきた天然素材である。
美容や健康に役立つ素材として着目されてきたが、効果を科学的に立証することや、高品質な製品を安価で安定的に製造することが難しいことが課題とされてきた。
同社の創業者である長谷部由紀夫氏が、大学や他の企業と共同で研究開発をしてきた結果、品質面やコスト面での課題を解決する独自の卵殻膜原料の加工技術を開発し、卵殻膜を使用した化粧品や健康食品を世に送り出してきた。
同社の事業は卵殻膜ヘルスケア事業の単一セグメントだが、売上高は、TVショッピング販売（以下、TV通販）、外部間接販売の卸販売（以下、外販（一般流通））、外部間接販売のOEM製品の販売（以下、外販（OEM製品））、自社直接販売（以下、直販（EC））、4つの販売チャネルに区分されている。
TV通販は、このチャネルで業績を伸ばした時期があり、現在でも3割近い売上構成比を占めている。
外販（OEM製品）は、20/3期には売上構成比が4割を超える販売チャネルであったが、OEM供給先の動向に左右されやすく、21/3期の売上高が前期比55.2%減となったように、売上構成比の変動が大きい販売チャネルとなっている。
一方、直販（EC）が着実に拡販を続けており、売上構成比は21/3期の37.7%まで順調に上昇し、最大の販売チャネルとなった。
美容や健康に役立つ素材として着目されてきたが、効果を科学的に立証することや、高品質な製品を安価で安定的に製造することが難しいことが課題とされてきた。
同社の創業者である長谷部由紀夫氏が、大学や他の企業と共同で研究開発をしてきた結果、品質面やコスト面での課題を解決する独自の卵殻膜原料の加工技術を開発し、卵殻膜を使用した化粧品や健康食品を世に送り出してきた。
同社の事業は卵殻膜ヘルスケア事業の単一セグメントだが、売上高は、TVショッピング販売（以下、TV通販）、外部間接販売の卸販売（以下、外販（一般流通））、外部間接販売のOEM製品の販売（以下、外販（OEM製品））、自社直接販売（以下、直販（EC））、4つの販売チャネルに区分されている。
TV通販は、このチャネルで業績を伸ばした時期があり、現在でも3割近い売上構成比を占めている。
外販（OEM製品）は、20/3期には売上構成比が4割を超える販売チャネルであったが、OEM供給先の動向に左右されやすく、21/3期の売上高が前期比55.2%減となったように、売上構成比の変動が大きい販売チャネルとなっている。
一方、直販（EC）が着実に拡販を続けており、売上構成比は21/3期の37.7%まで順調に上昇し、最大の販売チャネルとなった。
