Himaraya

Basic Information

Stock Code
7514
Industry
Retail Industry
Category Detail
Specialty Stores & Drugstores
Prefecture
Gifu Prefecture
Establishment Year
August 1991
Listing Year
September 1996
Official Website
https://www.himaraya.co.jp/
TSE Information
TSE Information
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Other Companies
Akatsuki Iijima Kogyo, Alpen, Golf Do, Asahi, Daiwa Cycle, Cube, Rihit Lab, Zebio Holdings

Overview

Himaraya is a major Chubu-based sports goods retailer founded in 1991, with strengths in multi-store expansion and community-focused services.

Current Situation

Himaraya achieved consolidated sales of approximately 58.5 billion yen and net assets of approximately 16.4 billion yen for the fiscal year ending August 2024, establishing a solid management foundation. Centered in the Chubu region, it operates around 200 specialty sports goods stores and is strengthening community-rooted customer services. In its core sports goods retail business, it differentiates from competitors by focusing on expanding private brands, raising their sales ratio to over 10%. Komori Holdings is the largest shareholder under its capital policy, and the capital and business alliance with Mitsubishi Corporation was dissolved in 2021. It is also deploying measures to enhance customer satisfaction, such as expanding used goods buyback services. On the sustainability front, it engages in local contribution activities and sustainable product development, and is formulating a growth strategy toward 2030. In recent years, key priorities include strengthening e-commerce to diversify sales channels and expanding the customer base through digital marketing. Looking ahead, it aims for nationwide expansion and enhancing competitiveness with a diverse product lineup.

Trivia

Interesting Facts

  • Founded in 1976 as Gifu Himaraya Limited Company.
  • Long-term product development collaboration with Mitsubishi Corporation, including capital involvement.
  • Operated 100% subsidiary B&D in the Tokyo area for Kanto market entry.
  • Listed on both Tokyo Stock Exchange Standard and Nagoya Stock Exchange Premier.
  • Actively expanding PB aiming for over 10% ratio.
  • Recently expanded scope of used sports goods buybacks.
  • Headquartered in Gifu Prefecture with Chubu-centric operations.
  • Rooted in the region as a sports chain since the 1980s.
  • Features local talent and BOYS AND MEN in CMs.
  • Specialty store for diverse sports goods, eyeing 200-store scale.
  • Capital of over 2.5 billion yen, stable mid-tier sports retailer.
  • Komori Corporation became major shareholder post-2021.
  • Approx. 700 employees on a standalone basis, maintaining stable staffing.
  • Continuously implementing active store renovations and service improvements.
  • Highly rated company on Nagoya Stock Exchange Premier Market.

Hidden Connections

  • Capital and business alliance with Mitsubishi Corporation dissolved in 2021, changing the relationship.
  • Past ties to RIZAP Group via subsidiary B&D share transfer.
  • Stable management base strengthened by capital ties with Komori Holdings.
  • Collaborative relationship with local governments through regional sports event support.
  • Fierce market competition with rivals Alpen and Zebio Holdings.
  • Advancing secondary circulation channels via used goods buyback expansion.
  • Exploring nationwide rollout by expanding sales and logistics bases in Hokkaido and Tohoku.
  • President Oda Manabu is a long-influential figure in sports specialty retail.

Future Outlook

Growth Drivers

  • PB product expansion and differentiation
  • Sales channel expansion centered on EC
  • Growth in used goods buyback and resale market
  • Strengthening community-focused services
  • Leveraging digital marketing and customer analytics
  • Market expansion from increasing sports participation
  • Rising interest in outdoor and fitness activities
  • Market share growth via nationwide expansion
  • Logistics and supply chain efficiency
  • Diversification of corporate services
  • Increasing demand for sustainability-compliant goods
  • Purchase promotion from high-function competition sports gear

Strategic Goals

  • Establish 200-store network
  • PB sales ratio over 20%
  • EC sales exceeding 30% of total
  • Nationwide rollout of community services
  • Expansion of used goods buyback and recycling business
  • Strengthened environmental measures toward carbon neutrality
  • Enhanced customer experience via digital tech
  • Significant improvement in employee satisfaction
  • Entry into new sports categories
  • Strengthened social contributions for sports culture promotion

Business Segments

Wholesale to Retail Stores

Overview
Wholesale business providing stable supply of diverse sports goods to retail stores.
Competitiveness
Rapid supply via extensive Chubu-based network
Customers
  • Local sports shops
  • Large discount stores
  • Specialty chain stores
  • Mass merchandise home centers
Products
  • Sports apparel wholesale
  • Shoes wholesale
  • Outdoor gear wholesale
  • Training equipment wholesale

Sales to Sports Facilities & Schools

Overview
Sales division procuring and proposing sports goods to various facilities and schools.
Competitiveness
Customized proposals responsive to facility needs
Customers
  • Local sports clubs
  • School gymnasiums
  • Public sports centers
  • Pro team training facilities
Products
  • Team uniforms
  • Competition balls
  • Training gear
  • Safety equipment

Sports Event Support Business

Overview
Provides necessary goods and support services for sports event operations.
Competitiveness
Community-focused services and diverse promotional support
Customers
  • Local governments
  • Sports organizations
  • Event operators
  • Corporate sports teams
Products
  • Sponsored goods
  • Competition equipment rental
  • Marketing support
  • Participant goods production

Corporate Welfare Services

Overview
Provides welfare services supporting corporate health management.
Competitiveness
Proven expertise in diverse health-related products
Customers
  • Corporate entities
  • Health insurance associations
  • Club membership organizations
  • Local communities
Products
  • Sports goods discount sales
  • Health promotion programs
  • Exercise equipment rental
  • Health seminar operations

Athlete Support Business

Overview
Provides specialized goods to enhance athletes' competitive performance.
Competitiveness
Individualized support by knowledgeable staff
Customers
  • Pro athletes
  • Sports teams
  • Training gyms
  • Rehab facilities
Products
  • Training wear
  • Recovery goods
  • Specialized shoes
  • Performance measurement devices

EC Platform Provision

Overview
EC division leveraging online sales and IT services.
Competitiveness
Expanded sales channels through in-house EC enhancement
Customers
  • General consumers
  • Sports enthusiasts
  • Remote retail stores
  • Small businesses
Products
  • Online sales systems
  • Digital marketing
  • Customer management services
  • Logistics integration services

Original Product Development & Manufacturing Outsourcing

Overview
Planning, development, and outsourcing manufacturing for proprietary brand goods.
Competitiveness
Integrated management from planning to manufacturing
Customers
  • In-house brand management
  • Retailer original goods
  • Sports teams
  • Event organizers
Products
  • PB apparel development
  • Accessory design
  • OEM for custom goods
  • Manufacturing management services

Logistics & Warehouse Management Services

Overview
Supports supply chain with efficient and rapid logistics management.
Competitiveness
Optimal logistics network centered in Chubu region
Customers
  • Own retail stores
  • Partner retailers
  • EC delivery providers
  • Wholesale clients
Products
  • Goods storage
  • Delivery arrangements
  • Inventory management systems
  • Order fulfillment

Marketing & Advertising Support

Overview
Supports consumer promotions and sales enhancement.
Competitiveness
Effective marketing rooted in regional characteristics
Customers
  • Own product planning division
  • Partner manufacturers
  • Agencies
  • Store operators
Products
  • Promotional campaigns
  • Event planning and operations
  • Digital advertising
  • Customer analytics services

Repair & Maintenance Services

Overview
Repair and maintenance services ensuring peace of mind after purchase.
Competitiveness
Broad repair expertise and nationwide network
Customers
  • Sports goods buyers
  • Retail stores
  • Corporate clients
  • Sports facilities
Products
  • Bicycle repair
  • Shoe repair
  • Equipment maintenance
  • Parts sales

Education & Training Services

Overview
Education and training business to enhance sales and technical skills.
Competitiveness
High-specialty education programs
Customers
  • Store employees
  • Sports instructors
  • Corporate clients
  • Local sports groups
Products
  • Product knowledge training
  • Customer service training
  • Sports coach training
  • Safety management seminars

Competitive Advantage

Strengths

  • Strong store network in Chubu region
  • Private brand rollout capabilities
  • Community-focused customer service
  • Diverse sports goods assortment
  • Expansion of used goods buyback channels
  • Stable financial foundation
  • Rapid supply logistics network
  • Strengthened digital marketing
  • Multi-channel sales development
  • Long-term brand recognition
  • Extensive product lineup
  • Specialized staff development
  • Wide-area procurement network
  • Customization responsiveness
  • Flexible pricing strategy

Competitive Advantages

  • Differentiated from competitors via regionally specialized store rollout
  • Secured stable revenue through PB product development
  • Customer retention via used goods buyback service
  • Broad customer appeal with diverse product mix
  • High goods supply stability due to proprietary logistics network
  • Successful sales diversification through EC channel enhancement
  • Enhanced brand awareness via regional sports event support
  • High-quality service by specialized staff
  • Differentiation from rivals with flexible pricing
  • Advanced marketing using customer data
  • Maximized customer touchpoints via diverse sales channels
  • Built trust based on long track record
  • Rapid response to market needs due to regional focus
  • Product development through athlete collaborations
  • Revenue stability from diversified business lines

Threats

  • Intense price competition from rival sports chains
  • Risk of reduced store footfall from new infectious diseases
  • Decline in physical store sales due to accelerating e-commerce shift
  • Unstable product demand from fluctuating sports popularity
  • Rising raw material costs increasing product prices
  • Market share erosion by new entrants
  • Fluctuating outdoor demand from climate change
  • Volatile used goods demand and buyback pricing
  • Declining service quality from talent shortages
  • Supply instability from logistics delays
  • Imported goods price fluctuations from exchange rates
  • Sales restriction risks from stricter regulations

Innovations

2024: Private Brand Product Expansion

Overview
Expanded PB product lineup to improve customer loyalty.
Impact
Contributed to PB sales ratio exceeding 10%

2023: Nationwide Expansion of Used Goods Buyback Service

Overview
Expanded buyback targets to all sports goods categories to increase sales channels.
Impact
Boosted used goods sales and strengthened customer retention

2022: Major EC Site Renewal

Overview
Enhanced usability and expanded product lineup to strengthen online sales.
Impact
EC sales up 30% year-over-year

2021: Logistics Center Automation

Overview
Introduced advanced automated warehouse system to improve delivery efficiency and accuracy.
Impact
10% reduction in logistics costs and shorter shipment times

2020: Enhanced Multi-Channel Sales Strategy

Overview
Deployed initiatives to improve customer experience through online-offline integration.
Impact
Overall sales capability uplift

Sustainability

  • Introduced recycling programs in stores
  • Promoting development of low-environmental-impact products
  • Supporting regional sports promotion and youth nurturing
  • Reducing plastic packaging materials
  • Advancing employee work style reform and health management
  • Promoting shift to energy-saving equipment
  • Environmental conservation activities collaborating with local society
  • Logistics efficiency via eco-car adoption
  • Strengthened employee sustainability education
  • Revitalizing local economy through local production for local consumption
  • Active adoption of fair trade products
  • Promoting reuse of sports goods