Hasegawa
Basic Information
- Stock Code
- 8230
- Industry
- Retail
- Category Detail
- Lifestyle Services
- Prefecture
- Fukuoka Prefecture
- Establishment Year
- December 1966
- Listing Year
- November 1988
- Official Website
- https://www.hasegawa.jp/
- TSE Information
- TSE Information
- Yahoo! Finance
- Yahoo! Finance
- Other Companies
- Heian Ray Service, Tia, Kokoro Net, TVE, Sun Life H, Nichiryoku, San Holdings
Overview
Hasegawa is the largest retailer of Buddhist altars, Buddhist utensils, and gravestones, established in 1966, and the only publicly listed company in the industry with 133 stores nationwide.
Current Situation
Hasegawa operates 133 directly managed stores nationwide, establishing a solid position as the industry leader in Buddhist altar and utensil sales. In 2017, it achieved sales of approximately 19.4 billion yen with 1,132 employees, continuing stable growth. In addition to its core Buddhist altar business, it expanded into gravestone sales in 1997 and funeral referral services in Tokyo in 2007, promoting business diversification. In 2024, it made Contemporary Buddhist Altars a wholly-owned subsidiary to strengthen its retail and wholesale operations. Brand image strategies like the 'Happy Girl' CM remain strong, establishing region-specific sales channels. The Hasegawa family management structure and dual bases in Fukuoka and Tokyo support nationwide expansion. Moving forward, it focuses on new areas like inheritance and end-of-life consulting to deepen its business and contribute to local communities. Continuous store expansion and digital utilization aim to broaden the customer base and ensure stable revenue.
Trivia
Interesting Facts
- Only publicly listed specialist in Buddhist altars and utensils
- Originated in Fukuoka Prefecture but expanded nationwide
- Long-loved regional CM 'Happy Girl'
- Subsidiary involved in Kiyomizu-dera restoration
- Dual headquarters in Tokyo and Fukuoka
- Inherits history from Hasegawa Buddhist Utensils Store founded in 1929
- Self-manufacturing of altars began in 1954, industry veteran
- Funeral referral business since 2007, limited to Tokyo
- Contemporary Buddhist Altar subsidiary acquisition in 2024, latest move
- Promoting online altar sales for marketing boost
- Famous CM song 'Matching Wrinkled Hands'
- Chairman Yuichi Hasegawa authored 'The Truth About Buddhist Altars'
- Artisan skills in high-end traditional altars highly rated
- Urban-focused small store operations
- Diverse affiliates for multifaceted business
Hidden Connections
- Subsidiary Hasegawa Art Crafts highly rated for cultural property restoration
- Industry pioneer shifting from Fukuoka Stock Exchange to Tokyo Stock Exchange
- Hasegawa family as major shareholders maintaining management consistency
- Exploring alliances with competing funeral companies
- CM melody used by many regional altar stores
- Expert collaborations strength in Tokyo funeral referrals
- Undisclosed pre-arrangement services as growth area
- Handles many B2B products like decorative consumables
Future Outlook
Growth Drivers
- New market expansion from surging inheritance and end-of-life needs
- Youth capture via urban small store expansion
- Sales promotion through digital channels
- Product innovation fusing tradition preservation and modern needs
- Product lineup strengthening from subsidiary integration
- Customer loyalty improvement via region-specific service enhancement
- Response to rising funeral-related demand in aging society
- Brand value uplift from eco-friendly product development
- Promotion of online end-of-life consultations
- New customer acquisition via brand image refresh
- Sales growth from domestic and overseas altar demand recovery
- Social trust enhancement through regulatory compliance
Strategic Goals
- Build 150-store network in major cities nationwide
- 20% sales share target for end-of-life and inheritance business
- Achieve 30% EC sales ratio
- Reduce environmental impact and use sustainable materials
- Realize employee diversity and work-life balance
- Enhance customer experience via digitalization
- Deepen fusion of traditional culture preservation and cutting-edge tech
- Strengthen community collaborations
- Ongoing development of CSR and cultural contributions
- Maintain and expand as Japan's largest Buddhist altar and utensil brand
Business Segments
Retail & Wholesale Business
- Overview
- Nationwide supply and wholesale of products like Buddhist altars and utensils to retailers and funeral companies.
- Competitiveness
- Stable supply network leveraging nationwide directly managed stores and strong product development capabilities
- Customers
-
- Directly Managed Altar Stores
- Department Stores
- Local Retailers
- Funeral Operators
- Temples
- Cemetery Management Companies
- Event Planners
- Funeral-related Service Providers
- Interior Shops
- Gift-related Companies
- Products
-
- Buddhist Altars
- Buddhist Utensils
- Gravestones
- Memorial Supplies
- Funeral-related Goods
- Event Decorations
- Compact Altars
- Traditional Crafts
- Seasonal Goods
- Original Products
- Hand-held Memorial Items
- Cemetery Referral Services
- End-of-Life Books
- Gravestone Maintenance Supplies
- Catalog Mail-Order Goods
Funeral Referral & End-of-Life Support Business
- Overview
- Provides funeral referrals and end-of-life support services mainly in Tokyo to meet needs.
- Competitiveness
- Region-specific network and specialized consultation system
- Customers
-
- General Consumers
- Elderly Facilities
- Municipalities
- End-of-Life Support Groups
- Funeral Companies
- Insurance Companies
- Medical Institutions
- Gravesite & Cemetery Managers
- Financial Institutions
- Inheritance-related Companies
- Products
-
- Funeral Referral Services
- End-of-Life Consulting Services
- Pre-arrangement Plans
- End-of-Life Information Provision
- End-of-Life Seminars
- Inheritance Support
- Heirloom Sorting Services
- Online Consultations
- Funeral Plans
- Family Funeral Services
Manufacturing & Development Business
- Overview
- Manufactures Buddhist altars and utensils leveraging traditional craft techniques and develops products.
- Competitiveness
- High-quality products from fusion of skilled artisans and cutting-edge technology
- Customers
-
- Own Stores
- Altar Retailers
- Craft Markets
- Utensil Dealers
- Commemorative & Gift Operators
- OEM Companies
- Traditional Craft Groups
- Cultural Facilities
- Overseas Channels
- Event Companies
- Products
-
- Altar Manufacturing
- Artisan Utensil Products
- Custom Manufacturing
- Craft Development
- Woodworking Products
- Hand-held Memorial Development
- New Material Products
- Made-to-Order Goods
- Display Goods
- Cultural Property Restoration
Competitive Advantage
Strengths
- Industry leader with 133 stores nationwide
- Quality control and sales system through direct management
- Unique brand image strategy
- Business expansion with subsidiary Contemporary Buddhist Altar
- Strengthened region-specific services
- Stable management centered on Hasegawa family
- Diversified business portfolio
- Extensive manufacturer-direct experience
- Diverse product lineup
- Dual major bases in Tokyo and Fukuoka
- Specialized funeral referral and end-of-life consulting services
- Fusion of traditional and modern technology
- High brand recognition
- Stable financial base
- Comprehensive customer support system
Competitive Advantages
- Only listed company in industry with high recognition and trust
- Strong customer touchpoints via direct sales network
- Revenue stabilization through diverse business segments
- Utilization of brand assets from rich history
- Product development incorporating latest technology
- Nationwide expansion from Fukuoka ensuring regional closeness
- Long-term vision execution via family management
- Vertical integration from wholesale to retail of altars and utensils
- Strong image appeal through CMs
- Differentiation via entry into end-of-life and inheritance fields
- Product variation expansion using subsidiaries
- Diversified management in funerals and gravestones
- High customer service evaluation
- Companion services like cemetery referrals
- Urban store expansion capturing younger demographics
Threats
- Demand decline risk from population decrease
- Low-price offensives from competitors
- Market shrinkage from changing traditional culture
- Increase in new entrants
- Store impacts from natural disasters
- Consumption decline in economic downturns
- Business constraints from stricter regulations
- Rising raw material prices
- Shifting customer base with aging society
- Spread of alternative services
- Competitive decline from digitalization lag
- Face-to-face sales disruptions from pandemics
Innovations
2024: Business Expansion via Subsidiary Acquisition of Contemporary Buddhist Altar
- Overview
- Acquired Contemporary Buddhist Altar as a wholly-owned subsidiary through split from Yagiken Co., Ltd., strengthening altar and utensil business.
- Impact
- Successfully expanded product lineup and wholesale scale
2023: Rapid Growth in Inheritance and End-of-Life Consulting Services
- Overview
- Strengthened inheritance and end-of-life consulting in Tokyo area, acquiring new customer segments.
- Impact
- Significant increase in new business sales and improved customer satisfaction
2022: New Marketing with Time-Poor Frozen Foods, Idol Altars, etc.
- Overview
- Implemented new product development and promotions targeting youth and Gen Z using local ingenuity.
- Impact
- Enhanced customer attraction and refreshed brand image
2021: Expansion of Digital Advertising and EC Channels
- Overview
- Focused on EC sites and online ads to diversify customer touchpoints and boost sales.
- Impact
- Online sales ratio exceeded 10%
2020: CSR Initiative: Kiyomizu-dera Restoration Support
- Overview
- Subsidiary Hasegawa Art Crafts contributed to internal restoration of Kiyomizu-dera, aiding traditional culture preservation.
- Impact
- Improved corporate brand's social evaluation
Sustainability
- Traditional technique preservation and regional culture support activities
- Promotion of environmentally considerate altar materials
- Employee health promotion and workstyle reforms
- Cultural contributions through community collaboration
- Building sustainable supply chains
- Participation in local Fukuoka environmental protection
- Waste recycling rate improvement measures
- Paperless promotion via digitalization
- Diversity respect and employee development
- Thorough safety and health standards management
- Addressing social needs in inheritance and end-of-life fields
- Active participation in regional events