LIEH

Basic Information

Stock Code
5856
Industry
Retail
Category Detail
General Merchandise & Food Retailers
Prefecture
Tokyo
Establishment Year
October 2004
Listing Year
October 2004
Official Website
https://lieh.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
ORTO P, DLE, Kakuyasu Group, RISE, ACED Holdings, Yamaya

Overview

LIEH is a holding company established in 2004, with comprehensive retail as its core business, pursuing diversification and holding liquor manufacturing and education-related businesses under its umbrella.

Current Situation

LIEH recorded consolidated sales of approximately 19 billion yen for the fiscal year ending March 2024, but operating profit and net profit were in the red, facing a challenging business environment. Its main business is retail centered on liquor sales, operating food distribution, liquor manufacturing, and educational support through numerous subsidiaries. In the past, it engaged in die-casting manufacturing but transferred the business in 2016 to focus on retail and services. In education-related areas, it is working to improve internal controls due to the fraudulent subsidy receipt issue at Witts Aoyama Gakuen High School. In 2025, it received a special quotation from the Tokyo Stock Exchange to strengthen its internal management system. In recent years, it has transferred the Business Super business and sold shares in subsidiaries to restructure its business portfolio. Going forward, it aims to rebuild its financial base with efficient food distribution and sound operations in education-related businesses as pillars.

Trivia

Interesting Facts

  • Company originated from Tokyo Rika Kogyosho and transitioned from die-casting business.
  • Previously operated Witts Aoyama Gakuen High School.
  • Tokyo District Prosecutors Office Special Investigation Department conducted house searches over fraudulent subsidy receipts at the school.
  • Designated as a special quotation stock by the Tokyo Stock Exchange.
  • Entered liquor manufacturing and education-related businesses as part of diversification.
  • Fiscal year ended March 2024 was in the red despite sales exceeding 19 billion yen.
  • Main retail business is liquor specialty stores and vending machine operations.
  • Holds subsidiaries such as Oimatsu Shuzo and Bon Sante.
  • Transferred Gyomu Super liquor business in 2024.
  • Adopts holding company structure to optimize resource allocation.

Hidden Connections

  • Has close industry relationships with competitors Yamaya and Kakuyasu Group due to strengths in liquor distribution.
  • Built strong networks with local cram schools through expansion of education business.
  • Potential capital ties or business alliances with the transferee of former die-casting business.
  • Gaining market attention due to special quotation designation amid corporate restructuring.
  • Deep historical ties with former Kawagane Group subsidiaries.
  • Connections to the financial sector through insurance agency operations.
  • Sharing traditional techniques between liquor manufacturing subsidiary and local breweries.
  • Susceptible to restructuring impacts in the distribution industry due to Gyomu Super business transfer.

Future Outlook

Growth Drivers

  • Strengthening brands and expanding sales channels in liquor retail business.
  • Local expansion of education-related business and development of digital teaching materials.
  • Promotion of efficiency leveraging synergies with subsidiaries.
  • Recovery of corporate credit through strengthened internal controls.
  • Digitalization of food distribution and logistics efficiency.
  • Active development of new businesses and diversification.
  • Strengthening social compliance adherence.
  • Enhancing brand value through collaboration with local communities.
  • Stabilizing revenue base centered on insurance business.
  • Thorough cost reduction measures and efficient management.

Strategic Goals

  • Establishment of sound financial structure and achievement of profitability.
  • Market share expansion in liquor business and creation of new brands.
  • Achieve over 50% digitalization rate in education field.
  • Advanced internal control systems and thorough legal compliance.
  • Expansion of community contribution activities and enhancement of corporate value.
  • Entrenchment of sustainability-focused business operations.
  • Establishment of new growth axis in Gyomu Super-related businesses.
  • Enhanced overall strength through strengthened group company collaboration.
  • Foundation for overseas business expansion.
  • Talent development and creation of comfortable work environment.

Business Segments

Food Distribution and Wholesale

Overview
Provides food distribution, liquor wholesale, and logistics support services.
Competitiveness
Efficient distribution network leveraging group synergies
Customers
  • Gyomu Super franchisees
  • Restaurants
  • Retail stores
  • Food processors
  • Distributors
  • Logistics companies
Products
  • Liquor products
  • Food wholesale
  • Logistics services
  • Product management systems

Education Services and Teaching Materials Production

Overview
Provides various teaching materials and services to educational institutions.
Competitiveness
Planning and production capabilities meeting diverse material needs
Customers
  • Cram schools
  • School corporations
  • Education-related companies
  • Students
Products
  • Learning materials
  • Mock tests
  • e-Learning
  • Prep school operations

Insurance Agency Operations

Overview
Conducts sales and consulting for a variety of insurance products.
Competitiveness
Flexible insurance proposals tailored to customer needs
Customers
  • Corporate customers
  • Individual customers
Products
  • Damage insurance
  • Life insurance

Cram Schools and Nursing Education Business

Overview
Education business with strengths in specialized learning support.
Competitiveness
Local operation know-how
Customers
  • Nursing students
  • High school students
  • Qualification seekers
Products
  • Prep schools for university entrance
  • Specialized prep schools for nursing students
  • Learning support services

Competitive Advantage

Strengths

  • Diversified business portfolio
  • Strong brand in liquor sales
  • Diversity in education-related services
  • Distribution network in Tokyo metropolitan area and nationwide
  • Synergies between group companies
  • Group of highly specialized subsidiaries
  • Long experience in retail
  • Locally rooted education business
  • Sales through direct operations and agents
  • Stable capital base

Competitive Advantages

  • Abundant know-how in store operations for liquor retail
  • Strengthening collaboration with regionally specialized education business
  • Risk diversification through multi-industry expansion
  • Brand recognition of Gyomu Super
  • Resource allocation capabilities as a holding company
  • Revenue supplementation through insurance agency operations
  • Business concentration from transfer of subsidiary manufacturing
  • Promotion of diversified distribution channels
  • Differentiation through highly specialized services
  • Efforts to improve internal management systems

Threats

  • Credit concerns from ongoing financial losses
  • Decline in corporate image due to past irregularities
  • Risk of delisting from special quotation designation
  • Harsh competitive environment (Yamaya, Kakuyasu, etc.)
  • Potential business restrictions from strengthened regulations
  • Burden of thorough social compliance adherence
  • Impact from changes in consumer trends
  • Concerns over economic downturn
  • Delays in new business monetization
  • Difficulty in securing human resources

Innovations

2023: Subsidiary acquisition of TransCool Co., Ltd.

Overview
Acquired cram school and nursing student prep school business in Tomakomai City as a subsidiary to strengthen education-related business.
Impact
Contributed to expanding the revenue base of the education business.

2024: Transfer of Gyomu Super liquor business

Overview
Transferred the relevant business to G-7 Holdings to improve liquor distribution efficiency, and established a new company for meat products, etc.
Impact
Promoted rationalization of business portfolio and concentration of management resources.

2025: Change in equity-method affiliate

Overview
Transferred shares of subsidiary S-Science, removing it from equity-method affiliates, and reviewed management.
Impact
Improved management efficiency and financial health.

Sustainability

  • Improved corporate governance through strengthened internal controls
  • Ongoing commitment to regional education support
  • Thorough safety management in food distribution processes
  • Promotion of environmentally considerate logistics
  • Efficient management through inter-business collaboration