中食事業（総菜・弁当）の直近5期の動向は、コロナ禍においてはイベントなどの大型注文の減少、スーパーや飲食店の中食強化による競争激化、在宅勤務による内食需要の増加などの影響により厳しい事業環境となった。売上高は2020年3月期の17,963百万円から徐々に減少していった。ハークスレイ＜7561＞はデリバリーニーズへの対応を積極的に行うとともに、アニメヒーローとのコラボレーションキャンペーンなど若者世代への訴求などマーケティングを強化し、新型コロナウイルス感染症の5類移行に伴うイベントやパーティーなどが復活したことで、2022年3月期の16,136百万円を底に2024年3月期は16,887百万円と、徐々に盛り返してきた。セグメント利益は、2020年3月期は1,038百万円であったが、コロナ禍に加え2022年3月期以降にエネルギー価格や原材料価格が高騰し、2023年3月期は257百万円まで落ち込んだ。同社は対策として価格転嫁をタイムリーに進め、コストコントロールの成果も相まって2024年3月期は前期比1百万円増の259百万円と利益を維持した。今後エネルギー価格や原材料価格の高騰が落ち着き、局面が変わっていけば利益率の改善も見込まれる。■Business Strategy by Segment
1. Lunch business (side dishes, bento)
(1) Recent trends
Trends in the lunch business (side dishes/bento) in the last 5 fiscal periods have become a tough business environment due to the effects of the COVID-19 pandemic, such as a decrease in large orders such as events, intensified competition due to strengthened snacks at supermarkets and restaurants, and an increase in demand for dine-in due to telecommuting. Sales gradually declined from 17,963 million yen for the fiscal year ended March 31, 2020. In addition to actively responding to delivery needs, Harksley ＜7561＞ has strengthened marketing such as appealing to the younger generation, such as collaboration campaigns with anime heroes, etc., and events and parties have been revived due to the revival of events and parties associated with the transition to type 5 of the novel coronavirus infection, so it has gradually recovered from the bottom of 16,136 million yen for the 2022/3 fiscal year to 16,887 million yen for the 2024/3 fiscal year. Segment profit was 1,038 million yen for the fiscal year ending 2020/3, but in addition to the COVID-19 pandemic, energy prices and raw material prices soared after the 2022/3 fiscal year, and fell to 257 million yen for the fiscal year ending 2023/3. The company proceeded with price transfer in a timely manner as a countermeasure, and maintained profit of 259 million yen for the fiscal year ending 2024/3, an increase of 1 million yen from the previous fiscal year, combined with the results of cost control. The rise in energy prices and raw material prices calms down in the future, and if the situation changes, profit margins are also expected to improve.
Existing store sales (compared to the same month last year) and number of stores are disclosed on a monthly basis as KPIs for the lunch business (side dishes/bento). Existing store sales showed a steady trend, exceeding the same month last year throughout the 2024/3 fiscal year. The number of stores is 839 as of the end of March 2024.
(2) Medium-term Strategy
The sales composition ratio of the lunch business (side dishes/bento) will go from about 34% for the 2024/3 fiscal year to about 25% for the 2028/3 fiscal year. This is because we anticipate high growth in the logistics and food processing business. The sales composition ratio will drop by about 9 points, but sales are planning a steady increase. The priority measures are as follows.
・Develop new customer groups such as “young people” and “seniors” through the development and sale of new menus
・Collaboration campaign with TV anime heroes
・Collaboration campaign with characters
・Collaboration campaign with VTuber
・Active implementation of digital sales promotion
・Increased number of members due to in-house apps “Hokka App” and “Mobile Order”
・Capturing demand for large parties and events
(Written by FISCO Visiting Analyst Hideo Kakuta)