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7686 東証スタンダード(卸売業)




(公開日 2022.03.25)


Kakuyasu Group(7686 TSE Standard)

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Major liquor distributor characterized by store network and logistics/distribution networks it built by itself

1.Corporate Overview
Kakuyasu Group’s main business is sales of liquor for business use including restaurants and for household use in the 23 wards of Tokyo and other metropolitan areas.

2. Financial Analysis
From the fiscal year ended March 2015 to the fiscal year ended March 2020, net sales remained almost flat and the ordinary profit grew 3.2% annually although there were fluctuations. However, in the fiscal year ended March 2021 when there was a significant impact of the COVID-19 pandemic, net sales from business use dropped and it posted an ordinary loss.

3. Non-Financial Analysis
The source of the company’s intellectual capital is the leadership of the president from the founder family. In the past, the company had overcome critical situations by executing bold reforms. In the process of such reforms, the company repeatedly transitioned to new development stages by establishing new business models and cultivating customers.

4. Corporate Strategy Analysis
The issues that should be addressed are the measures against the pandemic, stabilization of its financial base, responding to revisions of the Liquor Tax Act and other legal and regulatory changes as well as securing personnel.
Taking the pandemic as an opportunity, the company is implementing its medium- to long-term strategy, which is to evolve into a delivery platform company, ahead of schedule. Therefore, the company is promoting transition to a three-layer logistics model, which is comprised of a route logistics network for business use (layer one), a prompt delivery logistics network for business use (layer two) and a prompt delivery logistics network for household use (layer three), stating it will aim to recover net sales to the same level as before the pandemic for business use and further expansion of delivery for household use.

5. Analyst Evaluation
We highly evaluate the response capabilities of the hundred-year-old company that had overcome numerous crises. We are keeping our eyes on the growth capability that can be gained after overcoming the major crisis of the pandemic, and would like to pay attention to the progress in structuring the three-layer logistics model, which is necessary for such.


・カクヤスグループ(以下、同社)は、東京23 区をはじめとした大都市圏にて、料飲店等の業務用と、家庭用の双方への酒類販売を主な事業としている。










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