Pietro

Basic Information

Stock Code
2818
Industry
Food Products
Category Detail
Food Manufacturing
Prefecture
Fukuoka Prefecture
Establishment Year
July 1985
Listing Year
April 2002
Official Website
https://www.pietro.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Bulldog, Kewpie, Daisho, Ebara Foods

Overview

Pietro is a food manufacturer based in Fukuoka City, established in 1985, with dressings and pasta sauces as its main products, and also operates restaurants, making it a solid leader in the small and medium-sized food industry.

Current Situation

As of 2018, Pietro recorded consolidated sales of approximately ¥9.6 billion and operating profit of about ¥500 million, maintaining steady management centered on dressing production and restaurant operations. Its flagship Pietro Dressing has exceeded 300 million bottles in cumulative sales, gaining strong market support. It has manufacturing plants in Fukuoka, with a new plant scheduled to start operations in 2025 to enhance production capacity. It has a business alliance with the Nisshin Oillio Group, expecting synergies with edible oils. Sales channels are diversified from retail to mail order and restaurants, with geographic expansion beyond Hokkaido and attempts at overseas ventures like Honolulu. In recent years, it has faced profit fluctuations due to rising vegetable prices, while focusing on new customer acquisition through pasta products and recipe proposals. In terms of innovation, it is actively investing in new plant facilities. Medium- to long-term challenges include developing high-value-added products, multi-format expansion, and strengthening sustainability through eco-friendly packaging materials. It aims for sustainable growth by enhancing regional brand power and expanding mail-order sales amid intensifying market competition.

Trivia

Interesting Facts

  • Flagship product 'Pietro Dressing Japanese Soy Sauce' has exceeded 300 million bottles in cumulative shipments.
  • Company name derives from the Italian folktale 'The Shepherd Pietro'.
  • Founder Kunihiko Murata opened Yangmenya Pietro in Tenjin, Fukuoka.
  • Pursuing authenticity in frozen pasta with a premium positioning.
  • Ran CMs featuring actor Kaoru Kobayashi since 1997.
  • Mascot character 'Toro-suke' is operated and narrated by rakugo storyteller Shuntei Shotaro Harufutei.
  • Has multiple plants in Koga City, Fukuoka Prefecture, significantly contributing to local economy.
  • Expanded nationwide except Tohoku region and has experience with stores in Hawaii.
  • Strong in mail order with direct shipping service to customers nationwide.
  • Diverse restaurant formats centered on salad pasta, including 'PIETRO MIOMIO' brand.
  • Listed on Tokyo Stock Exchange Second Section in 2002, First Section in 2015, and Standard Market in 2023.
  • Entered business alliance with Nisshin Oillio Group in 2007.
  • Dressing CM song sung by actor Tomoya Nakamura became a topic.
  • Engaging in work style reform with Koga City Mayor Tanabe for regional community.
  • In addition to own brands, conducts OEM production for multi-faceted expansion.

Hidden Connections

  • Capital and business alliance with Nisshin Oillio Group enables cooperation in raw material supply and sales channels.
  • Leverages strengths as a locally originated food brand for nationwide and overseas expansion footholds.
  • Mascot character Toro-suke is performed by a renowned rakugo artist, high affinity with regional culture.
  • Advancing new plant construction and regional revitalization projects through collaboration with Koga City, Fukuoka Prefecture.
  • Actively pursuing listing maintenance and corporate governance reforms following transition to TSE Standard Market.
  • Likely collaborating with food processing technology research institutions to strengthen frozen food business.
  • Successfully enhanced brand awareness by featuring actors and actresses in advertising.
  • Pasta sauce products directly linked to restaurant operations, enabling product development reflecting customer feedback.

Future Outlook

Growth Drivers

  • Increasing demand for healthy dressings amid nationwide health trends.
  • Growth in processed prepared food market like frozen pasta and expanding premium needs.
  • Strengthened market access through mail order and EC channel expansion.
  • Production capacity and quality enhancement from new plant operations.
  • Revenue source diversification through diverse restaurant brand expansion.
  • Tailwinds from ESG investments evaluating sustainability efforts.
  • Synergistic effects in product development and channel expansion through collaboration with Nisshin Oillio Group.
  • Brand power and local economic revitalization leveraging regional ties.
  • New product development and marketing targeting younger generations.
  • Potential expansion of pasta and dressing demand in overseas markets.

Strategic Goals

  • Double production capacity and expand product lines through full new plant operations.
  • Increase mail order sales ratio to over 20%.
  • Fully introduce packaging materials reducing environmental impact by 30%.
  • Achieve 20% nationwide share in salad dressing market.
  • 30% increase in restaurant division sales through multi-store expansion.
  • Acquire younger customers through strengthened health-oriented product development.
  • Expand overseas stores to 3+ countries targeting 10% overseas sales.
  • Continuously enhance CSR evaluations through community contributions.
  • Accelerate nationwide rollout of new brand 'PIETRO MIOMIO'.
  • Build sustainable raw material procurement system and obtain certifications.

Business Segments

Food Retailers

Overview
Provides diverse food categories to retailers, expanding consumer touchpoints through multi-channel sales.
Competitiveness
Reliability from abundant product variety and stable supply
Customers
  • Supermarkets
  • Convenience Stores
  • Drugstores
  • Department Stores
  • Specialty Stores
Products
  • Salad Dressings
  • Pasta Sauces
  • Frozen Foods
  • Various Seasonings
  • Prepared Foods

Restaurants and Dining Chains

Overview
Supplies commercial products with high flavor reproducibility to restaurants, contributing to quality maintenance and menu diversification.
Competitiveness
Product development integrating restaurant operation know-how
Customers
  • Pasta Specialty Stores
  • Restaurant Chains
  • Fast Food Restaurants
  • Cafes and Bars
  • Hotels
Products
  • Commercial Pasta Sauces
  • Dressings
  • Frozen Pasta
  • Seasonings
  • Salad Ingredients

Mail Order Channels

Overview
Provides high-quality foods and gift items to individual consumers nationwide via mail order.
Competitiveness
Strong customer connections through direct brand sales
Customers
  • Individual Consumers
  • Gift Buyers
  • Health-Conscious Segments
  • Remote Area Customers
Products
  • Dressing Sets
  • Pasta Sauce Assortments
  • Gift Frozen Foods
  • Soup Gifts
  • Original Seasonings

Manufacturing Outsourcing and OEM Business

Overview
Accepts manufacturing commissions for other companies' brands, providing stable product quality.
Competitiveness
Skilled manufacturing techniques and quality control systems
Customers
  • Other Food Manufacturers
  • OEM for Dining
  • PB Product Clients
Products
  • Dressing Manufacturing
  • Pasta Sauce OEM
  • Seasoning Manufacturing

Raw Material Suppliers

Overview
Secures stable supply of high-quality raw materials for manufacturing, contributing to product quality assurance.
Competitiveness
Long-term trading relationships and trust
Customers
  • Agricultural Producers
  • Spice Wholesalers
  • Seasoning Raw Material Manufacturers
Products
  • Vegetables
  • Spices
  • Oils and Fats

Logistics Services

Overview
Provides efficient and safe logistics services, supporting product freshness and on-time delivery.
Competitiveness
Dedicated delivery network and temperature control systems
Customers
  • Logistics Companies
  • Warehouse Operators
Products
  • Product Delivery
  • Inventory Management

Marketing and Advertising Agencies

Overview
Conducts effective marketing activities to improve product awareness.
Competitiveness
Enhanced appeal from extensive restaurant experience
Customers
  • Advertising Agencies
  • Marketing Companies
  • Media Companies
Products
  • Advertising Campaigns
  • Brand Promotions

Technology Development Partners

Overview
Promotes technology development for product innovation and operational efficiency.
Competitiveness
Industry-academia collaboration and utilization of regional technology
Customers
  • Food Technology Research Institutions
  • Packaging Material Manufacturers
  • IT Vendors
Products
  • Quality Improvement Technology
  • Eco-Friendly Packaging
  • Sales Support Systems

Human Resources and Education Services

Overview
Focuses on human resource development to ensure restaurant quality and strengthen operations.
Competitiveness
Educational programs leveraging in-house operation know-how
Customers
  • Dining Industry Training Institutions
  • Staffing Agencies
Products
  • Cooking Staff Training
  • Quality Control Training

IT and Mail Order Support

Overview
Provides IT infrastructure and services to strengthen mail order business.
Competitiveness
Operational experience and know-how from direct brand sales
Customers
  • EC Site Operators
  • Payment Processors
  • Logistics Integration Systems
Products
  • Mail Order Platforms
  • Customer Management Systems
  • Delivery Tracking

Environment and CSR Partners

Overview
Promotes measures to reduce environmental impact for sustainability enhancement.
Competitiveness
Regionally integrated collaborative operations
Customers
  • Recycling Companies
  • Local Governments
  • NPO Organizations
Products
  • Label Recycling
  • Community Contribution Activities
  • Environmental Education

Overseas Business Partners

Overview
Supports overseas expansion and promotes local market adaptation.
Competitiveness
Smooth operations through know-how sharing
Customers
  • Local Sales Agents
  • Logistics Providers
  • Restaurant Operators
Products
  • Overseas Product Supply
  • Overseas Store Operation Support

Competitive Advantage

Strengths

  • Strong regional brand recognition
  • Extensive dressing product lineup
  • Revenue diversification through multi-format operations
  • Stable plant operations and quality control
  • Multi-channel sales including mail order
  • Accumulated know-how in the food industry over many years
  • Resource sharing through business alliance with Nisshin Oillio
  • Restaurant operation experience and product integration
  • Strong community relations
  • Utilization of mascot character 'Toro-suke'
  • Pursuit of handmade taste and product differentiation
  • Flexible product development and new product launches
  • Comprehensive food proposal capabilities
  • Stable raw material procurement network
  • Balance of deliciousness and health orientation in products

Competitive Advantages

  • Established market position with long-selling Japanese soy sauce dressing
  • Reliability and differentiation as a Fukuoka-originated regional brand
  • Comprehensive product development from both restaurant operations and manufacturing
  • Broad customer touchpoints accommodating wide sales channels
  • Flexible response to demand fluctuations through aggressive new plant investments for production capacity enhancement
  • Extensive lineup of diverse dressings and pasta sauces
  • Direct nationwide sales to customers via mail order business
  • Friendly marketing with character ads like 'Toro-suke'
  • Synergy effects from capital and business alliance with Nisshin Oillio Group
  • Enthusiasm for new market development through overseas stores
  • Focus on ingredients and health-oriented product development
  • Multi-format brand expansion including new brand 'PIETRO MIOMIO'
  • Stable financial base with capital exceeding ¥1 billion
  • Market expansion through commercial products
  • Trust gained from regionally rooted corporate stance

Threats

  • Risk of rising raw material costs from high vegetable prices
  • Intensifying competition with major food manufacturers
  • Product demand fluctuations from changing consumer preferences
  • Increased costs from stricter food safety regulations
  • Deteriorating sales environment from novel infectious diseases or social changes
  • Profit pressure from rising logistics costs
  • Increased packaging material costs from crude oil price fluctuations
  • Overseas business risks and immature markets
  • Restaurant operation difficulties from labor shortages
  • Risks from succession issues or management changes
  • Challenges in expanding sales channels amid fierce mail order competition
  • Risk of plant shutdowns from natural disasters

Innovations

2023: Koga City New Plant Construction Plan

Overview
Announced plans to build a new plant aimed at enhancing production capacity and manufacturing efficiency.
Impact
Expected to achieve increased production volume and quality stabilization.

2023: Premium Frozen Pasta Line Strengthening

Overview
Focusing on developing frozen pasta products pursuing authenticity and strengthening the premium line.
Impact
Expected improvement in competitiveness in the premium market.

2022: Promotion of Horizontal Label Recycling

Overview
Introduced a horizontal recycling system for package labels to reduce environmental impact.
Impact
Contributes to reducing environmental load and improving brand image.

2023: Launch of Pasta Recipe Proposal Business

Overview
Provides cooking proposals and plating guidance for supermarkets to improve customer satisfaction.
Impact
Contributes to product channel expansion and new customer acquisition.

2021: Marketing Utilization of New Character 'Toro-suke'

Overview
Strengthened promotions using the Toro-suke character as part of advertising strategy renewal.
Impact
Contributes to enhancing brand awareness and promoting purchases.

2020: Mail Order Channel Expansion

Overview
Strengthened mail order business by renewing and expanding online sales systems.
Impact
Successfully established a nationwide customer base.

Sustainability

  • CO2 reduction through energy-saving equipment in new plant
  • Environmental load reduction via horizontal label recycling promotion
  • Promotion of local resource utilization in collaboration with Fukuoka Prefecture
  • Advancement of sustainable ingredient procurement
  • Improved productivity and environmental consideration through work style reforms for employees