Nihon Seima

Basic Information

Stock Code
3306
Industry
Wholesale
Category Detail
Auto Parts
Prefecture
Toyama Prefecture
Establishment Year
February 1947
Listing Year
May 1949
Official Website
https://www.nihonseima.co.jp/
TSE Information
TSE Information
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Overview

Nihon Seima is a wholesale company established in 1947, primarily handling jute products along with food, packaging materials, and mat products. It is a trading company with a high market share in Japan.

Current Situation

Nihon Seima recorded consolidated sales of approximately 3.77 billion yen in the fiscal year ended March 2020, with its main operations centered on food and jute product wholesaling. In the food division, it produces spaghetti and retort foods under the longstanding 'Volcano' brand, established in 1928, at its Hokuriku factory. Jute products hold a 50% share of the domestic rice and wheat bag market, and it also engages in packaging materials and automotive mats in a diversified manner. Since 2022, the Go Go Curry Group has become the largest shareholder, leading to a refresh of management. It operates 9 directly managed 'Pasta House Volcano' restaurants in the Hokuriku and Kinki regions to strengthen the brand. In the past, it ventured into fisheries and hotels (Nichima Club) but has withdrawn from those. Moving forward, it aims to develop sustainable materials and expand its share in the food sector, while strengthening its management structure and risk management systems.

Trivia

Interesting Facts

  • Historic company that first manufactured domestically produced spaghetti in Japan.
  • Major player holding about 50% share in the domestic jute bag market.
  • Previously operated hotel business with Nichima Club in Tonami City.
  • Operates multiple directly managed pasta specialty stores 'Pasta House Volcano'.
  • Acquired Thai subsidiary Sahakit Co., Ltd., with over 100 years of history.
  • Recent management integration with Go Go Curry Group has been a hot topic.
  • Entering automotive mat production to advance diversification.
  • In the 1990s, engaged in aquaculture fisheries business.
  • Handles manufacturing and sales of heavy-duty paper bags for packaging materials.
  • Jute products gaining attention as eco-friendly natural materials.

Hidden Connections

  • Business ties with Go Go Curry Group expanding connections to the restaurant industry.
  • Thai subsidiary also manufactures automotive parts, building a global business foundation.
  • Nihon Seima's packaging materials are widely used, especially by food manufacturers.
  • Jute bag business known as a pioneering natural material brand in agricultural materials market.
  • Volcano brand has strong market recognition as Japan's oldest pasta manufacturer.
  • Former factory site in Tonami City repurposed as a shopping mall, contributing to local economy.
  • Automotive floor mats and golf mats supplied to many domestic automakers.
  • Packaging films used for pharmaceutical packaging, meeting strict quality standards.

Future Outlook

Growth Drivers

  • Increasing demand for natural fiber products due to rising environmental awareness
  • Growth in health-conscious pasta demand in domestic and international food markets
  • Expansion of demand for functional and eco-friendly packaging materials
  • Increasing demand for mat products from diversification in automotive parts
  • Sales expansion through synergy effects with Go Go Curry Group
  • Customer base strengthening via regional-focused brand strategy
  • Local production and sales expansion in Asian markets like Thailand
  • Differentiation through new product development
  • Development of high-value-added materials for food processing
  • Advancement of R&D on sustainable materials
  • Strengthening direct sales via e-commerce
  • Promotion of DX in manufacturing processes

Strategic Goals

  • Maintain and expand domestic jute product share to over 60%
  • Grow Volcano food sales to ¥2 billion scale
  • Achieve 70% ratio of eco-friendly packaging materials
  • Reach over 30% overseas sales ratio in automotive mat business
  • Continuous improvement of group-wide ESG evaluation metrics
  • Enhance management transparency and governance
  • Achieve 20% cost reduction through logistics efficiency
  • Strengthen regional rollout of new brands and directly managed stores
  • Manufacturing efficiency via introduction of AI and digital technologies
  • Establish sustainable raw material procurement system

Business Segments

Industrial Materials Wholesale

Overview
Provides a wide range of industrial materials centered on domestic wholesaling of jute products and packaging materials.
Competitiveness
Holds 50% domestic share in rice/wheat jute bags
Customers
  • Flour millers
  • Rice polishers
  • Fertilizer manufacturers
  • Agri-related companies
  • Logistics companies
Products
  • Jute bags
  • Heavy-duty paper packaging bags
  • PE fertilizer bags
  • Industrial ropes and cloths
  • Packing materials

Food Manufacturing and Sales

Overview
Food sales centered on in-house 'Volcano' pasta products and imported ingredients.
Competitiveness
Japan's oldest pasta manufacturing brand and direct import routes
Customers
  • Food wholesalers
  • Supermarkets
  • Restaurant chains
  • Imported food sellers
Products
  • Spaghetti
  • Retort pasta sauces
  • Directly imported Italian foods
  • Olive oil

Automotive Mat Manufacturing and Sales

Overview
Plans, manufactures, and sells automotive mat products with established sales channels.
Competitiveness
Custom offerings for domestic and international car models
Customers
  • Auto dealers
  • Car accessory shops
  • Auto parts manufacturers
Products
  • Automotive floor mats
  • Luxury carpet mats
  • Golf artificial turf mats

Golf Supplies Manufacturing and Sales

Overview
Handles planning, manufacturing, and sales of golf accessories in an integrated manner.
Competitiveness
Specialized products for driving ranges and lightweight bag series
Customers
  • Golf driving range operators
  • Sports goods stores
  • Pro golfers
Products
  • Artificial turf mats
  • Caddy bags
  • Duffle bags

Packaging Films and Pharmaceutical Packaging

Overview
Builds trust through manufacturing and supply of high-quality packaging films.
Competitiveness
Strong supply of multi-purpose high-function films
Customers
  • Food manufacturers
  • Pharmaceutical companies
  • Packaging material traders
Products
  • Food packaging films
  • Pharmaceutical packaging
  • Liquid filling films

Group Company Operations

Overview
Global collaboration with overseas subsidiaries like in Thailand for manufacturing and wholesaling.
Competitiveness
Local production and sales capabilities in Asia
Customers
  • Some in-house subsidiaries
  • Overseas sales channels
Products
  • Automotive mat manufacturing
  • Overseas procured goods

Competitive Advantage

Strengths

  • High market share in domestic rice/wheat jute bags
  • Ownership and expansion of historic food brands
  • Diversified revenue sources from multi-segment operations
  • Regional-focused management centered on Hokuriku
  • Strengthened collaboration with Go Go Curry Group

Competitive Advantages

  • Integrated system from jute raw material procurement to product sales
  • Unique market from fusion of traditional industrial materials and food
  • Proven track record in high-quality automotive mats
  • Brand strengthening leveraging directly managed restaurant network
  • Manufacturing strength from group subsidiaries in Asia

Threats

  • Risk of fluctuations in international jute raw material prices
  • Risk of declining corporate credibility from insider trading issues
  • Intensifying competition and cost pressures in domestic packaging materials market
  • Diversification of consumer preferences in food industry
  • Demand instability due to economic fluctuations

Innovations

2023: Management Refresh and Governance Strengthening

Overview
President change and establishment of special investigation committee following Go Go Curry Group's majority shareholder status.
Impact
Corporate credibility recovery and transparency improvement through system enhancement.

2023: Volcano Food Brand Strengthening

Overview
Expansion of Hokuriku factory for pasta production base and directly managed stores to boost brand recognition.
Impact
Sales growth and enhanced regional brand value.

2022: Enhancement of Asian Local Subsidiary Production Capacity

Overview
Equipment investment in Thai subsidiary to expand automotive mat production.
Impact
Strengthened exports and improved cost competitiveness.

Sustainability

  • Reduced environmental impact through use of natural fiber jute products
  • Development and promotion of recyclable packaging materials
  • Environmental protection activities in collaboration with local communities
  • Promotion of eco-friendly manufacturing processes
  • Production technology improvements to reduce food waste