Hagoromo Foods

Basic Information

Stock Code
2831
Industry
Food Products
Category Detail
Food Manufacturing
Prefecture
Shizuoka Prefecture
Establishment Year
July 1947
Listing Year
February 2000
Official Website
https://www.hagoromofoods.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Kyokuyo, Nissui, Maruha Nichiro, Yutaka Foods, Yokorei, Ichisho Kamaboko, Omoroya, Natori, STI Food Holdings, Kibun Foods, Okamura Food Industry, Nichimo

Overview

Hagoromo Foods is a major Japanese processed food manufacturer established in 1947, with strengths in seafood processed products including the Siichikin brand, and has established a solid position in the food products industry.

Current Situation

Hagoromo Foods is a food manufacturer boasting consolidated sales of approximately 82.5 billion yen and net profit of approximately 2.3 billion yen (fiscal year ended March 2020). Its flagship tuna canned product Siichikin is the top domestic brand with high name recognition, and it operates subsidiaries in the seafood sector, diversifying into seafood processing, pasta, retort foods, pet food, and more. In recent years, it has established the Hagoromo Innovation Center as a research and development base, focusing on quality improvement and product development. It is proactive in sustainability activities, new product development, advertising strategies, and expansion of domestic sales channels. While industry competition is intense, with challenges in price adjustments and quality strengthening, there are growth opportunities from increasing demand for health-conscious and convenience-oriented needs. Looking ahead, it aims to diversify raw material procurement and pursue global expansion, while enhancing brand value and strengthening its customer base.

Trivia

Interesting Facts

  • 'Siichikin' is a long-loved tuna can brand in Japan.
  • The company name derives from the Hagoromo legend at Miho no Matsubara in Shimizu.
  • Previously offered soft drinks but discontinued.
  • Has used the milk crown sound logo in commercials since around 1987.
  • In 2016, an insect contamination incident in tuna cans led to litigation.
  • Numerous sponsorships in TV anime and variety shows.
  • Many famous actors and talents have appeared in commercials.
  • Some products are produced by overseas subsidiaries.
  • Packaged rice 'Papatto Rice' features convenient portioned packaging.
  • Owns the Brand Education and Research Promotion Association as a major shareholder.

Hidden Connections

  • Major shareholder includes the public interest foundation Education Research Promotion Association, reflecting corporate social contributions.
  • Absorbed and merged former Maruai Shoji, expanding business areas.
  • Long-term sponsor of diverse TV programs, contributing to brand recognition.
  • Strong collaborative relationships with prominent Shizuoka-based companies.
  • Trading houses like Mitsui & Co. and Toyo Seikan Group, and material manufacturers, are listed as shareholders.
  • Strengthened appeal to younger demographics through CG-integrated commercial production.
  • Representative food products company that grew from local to nationwide.
  • Post-food safety issue subcontractor management strengthening became an industry standard example.

Future Outlook

Growth Drivers

  • Increasing tuna can demand from rising health consciousness
  • Expansion of processed food and retort markets domestically and internationally
  • Growing needs for convenience foods
  • Rising consumer interest in sustainable products
  • Efficiency gains through IT and digital technology utilization
  • Increasing demand for nutrient-focused products in aging society
  • Strengthening diverse sales channels (e.g., EC)
  • Sales expansion in overseas markets
  • Promotion of R&D for new products and health foods
  • Cost reductions through logistics optimization

Strategic Goals

  • Achieve 50% share as Japan's top tuna can brand
  • Reduce environmental impact and plastic packaging by 30%
  • Exceed 100 billion yen in sales through new businesses and products
  • Full-scale overseas market entry and local supply system development
  • Create innovative products through increased R&D investment
  • Thorough permeation of SDGs awareness throughout all employees
  • Achieve digitalization of logistics and production efficiency
  • Strengthen communication with consumers
  • Strengthen supply chain through sustainable fishery resource utilization
  • Expand social contribution programs in collaboration with local communities

Business Segments

Business-Use Seafood Processed Products

Overview
Provides large-size products and stable supply systems for the food service and school lunch industries.
Competitiveness
Stable domestic production system and long-term trading relationships
Customers
  • Restaurant Chains
  • School Lunch Centers
  • Food Wholesalers
  • Retailers
  • Hotels and Inns
Products
  • Bulk Tuna Can Supply
  • Processed Fish and Shellfish Products
  • Business-Use Retort Food Packs

Raw Material Supply and Feed Business

Overview
Engages in material supply business through fish oil and feed raw materials.
Competitiveness
High-quality fish oil extraction technology and material management
Customers
  • Pet Food Manufacturers
  • Livestock Farmers
  • Feed Processors
  • Other Food Manufacturers
Products
  • Fish Oil
  • Feed Raw Materials
  • Seafood Processing Byproducts

OEM Manufacturing Services

Overview
Supports contract manufacturing and product development to back customer brands.
Competitiveness
Diverse production lines and quality control systems
Customers
  • Food Vendors
  • Retail Chains
  • Food Service Providers
Products
  • OEM Tuna Can Manufacturing
  • Original Pasta Manufacturing
  • Contract Retort Food Production

Raw Material Procurement and Logistics Services

Overview
Builds an integrated logistics system from material procurement to delivery.
Competitiveness
Logistics network closely tied to the region
Customers
  • Related Subsidiaries
  • Distributors
  • Product Development Divisions
Products
  • Raw Fish Procurement
  • Packaging Material Management
  • Product Delivery

Competitive Advantage

Strengths

  • Powerful tuna can brand 'Siichikin'
  • High recognition in the domestic processed food market
  • Extensive sales channels and regional closeness
  • Diversified food product portfolio
  • Stable capital base and parent company support
  • Robust quality control and R&D systems
  • Technological prowess backed by long industry experience
  • Excellent product development and marketing strategies
  • Strong ties with local communities
  • High awareness of environmental initiatives
  • Product adaptability to a wide customer base
  • Strict oversight of subcontractors

Competitive Advantages

  • Dominant share in the domestic tuna can market
  • Risk diversification through diverse product lineup
  • Customer trust via region-focused sales strategy
  • Strong brand image and recognition
  • Proprietary canning technology and processing know-how
  • Manufacturing and sales systems utilizing subsidiaries
  • Stable management supported by solid financial base
  • High advertising effectiveness across various media
  • Proactive sustainability measures
  • Diverse sales channels surpassing competitors
  • Thorough user-oriented product development
  • Brand appeal using celebrities

Threats

  • Risk of sudden fluctuations in raw material prices
  • Brand image decline due to food safety issues
  • Intense price competition from domestic and international rivals
  • Declining demand from shifts in consumer health consciousness
  • Cost increases from exchange rate fluctuations
  • Risk of damage to production sites from natural disasters
  • Increased compliance costs from food labeling and stricter regulations
  • Intensified local competition in overseas market expansion
  • Risks from subcontractor management deficiencies
  • Supply delays from logistics disruptions
  • Demand-supply instability from pandemics
  • Rising manufacturing costs from stricter environmental regulations

Innovations

2021: Started Manufacturing Siichikin 70g Cans at New Shimizu Plant

Overview
Began manufacturing Siichikin 70-gram cans at the new Shimizu plant equipped with the latest facilities.
Impact
Improved production efficiency and ensured stable product supply

2020: Established Hagoromo Innovation Center

Overview
Remodeled the former head office and began using it as a product research and development base.
Impact
Contributes to strengthening product development capabilities

2022: Introduced New Sound Logo Using CG

Overview
Adopted a digitally compatible sound logo recreated with CG in TV commercials.
Impact
Refreshed brand image and increased recognition

2023: Price Increases for Packaged Rice and Nori

Overview
Implemented price revisions for packaged rice and nori in response to rising raw material costs.
Impact
Contributes to maintaining profitability

2024: Development of Environmentally Friendly Packaging Technology

Overview
Promoting reduction in plastics and introduction of recycled materials.
Impact
Reduced environmental impact and improved corporate image

Sustainability

  • Acquisition and promotion of Eco-Action 21 environmental management certification
  • Efforts to reduce plastic packaging (gradual 30% reduction target)
  • Continuous participation in local environmental protection activities
  • Introduction of CO2 emission reduction technologies in manufacturing processes
  • Promotion of sustainable fishery resource procurement
  • Strengthening of safety and quality management systems
  • Improvement in waste recycling rate
  • Voluntary environmental communication activities
  • Regional social contributions through CSR activities