(250A) Shimadaya - New Analyst Report 10/4

The Shimadaya Group consists of Shimadaya and four subsidiary companies, engaged in the manufacturing and sales of noodles such as udon, soba, and Chinese noodles for households and commercial use.

Shimadaya conducts sales, while its subsidiaries - Shimadaya Kanto, Shimadaya Tohoku, and Shimadaya Nishinippon - are responsible for manufacturing. Some noodles like dried yakisoba and plate udon, as well as soup and ingredients (fried egg, bamboo shoots, etc.), are purchased from OEM contractors. Another subsidiary, Shimadaya Shoji, handles leasing, merchandise sales, and property insurance for group companies.

In the household division, the manufacture and sale of chilled noodles requiring refrigeration and frozen noodles requiring freezing storage are carried out, while the commercial division focuses on the manufacturing and sale of frozen noodles. The revenue composition ratio for the 24/3 period was 62.2% for the household division and 37.8% for the commercial division.

There are a total of 11 factories nationwide, producing chilled noodles in 8 factories and frozen noodles in 4 factories. Geographically, there are many factories in the Kanto region.

In the household division, manufacturing and selling chilled and frozen noodles for general households is conducted, with chilled noodles representing the majority of the revenue. The main sales outlets are large retailers such as supermarkets.

In the commercial business division, we manufacture and sell frozen noodles for business use. Business frozen noodles include "Health Noodles", "Alpha Noodles" that retain their deliciousness even after thawing and time has passed, and "Mini Double" that can easily be split into large and small servings, handling a variety of products. In terms of noodle types, udon, soba, and Chinese noodles are at almost the same ratio.