Industry map/Retail, Trading & Restaurants
Apparel industry map
Who earns the money in Apparel, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 76 companies · ¥6.99T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥6.99T
- Companies
- 76
- Avg. salary（parent only）
- ¥5.5M
- Industry weather
- Sunny
YoY +7.5%
Avg. age 42.9
Operating income +9.3%
Fast Retailing[9983]
UNIQLO International + 3 more
- Revenue
- ¥3.4T▲9.6%
- Operating income
- ¥523.3B▲10.5%
Margin 15.4%
Whole company: Revenue ¥3.4T · Net income ¥433B
Avg. salary ¥12.5M · 38.0（parent only）
Shimamura[8227]
Japan + 1 more
- Revenue
- ¥700B▲5.2%
- Operating income
- ¥61.5B▲3.8%
Margin 8.8%
Whole company: Revenue ¥700B · Net income ¥44.5B
Avg. salary ¥7.2M · 43.4（parent only）
and ST HD[2685]
Apparel and Miscellaneous goods Related
- Revenue
- ¥289.7B▲4.0%
- Operating income
- ¥17.3B▲3.7%
Margin 6.0%
Whole company: Revenue ¥304.4B · Net income ¥9.5B
Avg. salary ¥4.3M · 38.4（parent only）
World[3612]
Brand Business + 1 more
- Revenue
- ¥271.9B▲28.8%
- Operating income
- ¥13B▲1.1%
Margin 4.8%
Whole company: Revenue ¥284B · Net income ¥12B
Avg. salary ¥5.6M · 43.1（parent only）
Onward Holdings[8016]
Domestic Business + 1 more
- Revenue
- ¥236.8B▲13.6%
- Operating income
- ¥12.4B▲17.1%
Margin 5.2%
Whole company: Revenue ¥236.8B · Net income ¥10.1B
Avg. salary ¥6.6M · 45.9（parent only）
United Arrows[7606]
- Revenue
- ¥164.6B▲9.1%
- Operating income
- ¥9.13B▲14.3%
Margin 5.5%
Avg. salary ¥5M · 35.7（parent only）
TSI Holdings[3608]
Apparel related business
- Revenue
- ¥162.1B▲7.6%
- Operating income
- ¥6.95B▲54.1%
Margin 4.3%
Whole company: Revenue ¥167.1B · Net income ¥3.79B
Avg. salary ¥15M · 56.7（parent only）
PAL GROUP Holdings[2726]
Clothing
- Revenue
- ¥144.8B▲13.3%
- Operating income
- ¥18.9B▲4.0%
Margin 13.0%
Whole company: Revenue ¥234.7B · Net income ¥17.7B
Avg. salary ¥12.8M · 45.4（parent only）
Aoyama Trading[8219]
Business wear business
- Revenue
- ¥124.2B▼6.6%
- Operating income
- ¥5.18B▼38.1%
Margin 4.2%
Whole company: Revenue ¥189B · Net income ¥6.92B
Avg. salary ¥5.1M · 37.7（parent only）
Workman[7564]
- Revenue
- ¥119.2B▲19.6%
- Operating income
- ¥29.7B▲21.7%
Margin 24.9%
Avg. salary ¥8M · 37.0（parent only）
Look Holdings[8029]
Apparel + 5 more
- Revenue
- ¥103.5B▼4.7%
- Operating income
- ¥4.89B▼22.8%
Margin 4.7%
Whole company: Revenue ¥52.1B · Net income ¥1.47B
Avg. salary ¥6.4M · 48.7（parent only）
- Sankyo Seiko owns 3.2%
- Yagi & owns 1.9%
AOKI Holdings[8214]
Fashion
- Revenue
- ¥102.9B▲0.3%
- Operating income
- ¥8.51B▼2.1%
Margin 8.3%
Whole company: Revenue ¥194.5B · Net income ¥9.46B
Avg. salary ¥7.4M · 44.8（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Rizap Group · Matsuoka · Cross Plus · Sanyo Shokai · Gunze · Honeys Holdings · Yagi & · Takihyo · Konaka · Baroque Japan · GSI Creos · Haruyama Holdings · Daidoh · Yondoshi Holdings · Tokyo Base · Belluna · Laox Holdings · Atsugi · Yamatointernationalinc. · MRK Holdings · Nagaileben · Tabio · Tokyo Soir · Ichikura · COX · Jichodo · Human Made · yutori · Palemo Holdings · Naigai · Yamano Holdings · Gyet · Global Style · Moonbat · Sankyo Seiko · T.kawabe & · Charle · Yamaki · Taka-Q · Land Business …+24
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Fast RetailingUNIQLO International + 3 more | ¥3.4T | 48.6% | 15.4% | +12.4% | ¥417.8B |
| 2 | ShimamuraJapan + 1 more | ¥700B | 10.0% | 8.8% | +4.7% | ¥24.2B |
| 3 | and ST HDApparel and Miscellaneous goods Related | ¥289.7B | 4.1% | 6.0% | — | ¥6.72B |
| 4 | WorldBrand Business + 1 more | ¥271.9B | 3.9% | 4.8% | — | ¥24.1B |
| 5 | Onward HoldingsDomestic Business + 1 more | ¥236.8B | 3.4% | 5.2% | — | ¥2.84B |
| 6▲1 | United Arrows | ¥164.6B | 2.4% | 5.5% | +8.6% | -¥621M |
| 7▲1 | TSI HoldingsApparel related business | ¥162.1B | 2.3% | 4.3% | +4.5% | -¥12.6B |
| 8▲2 | PAL GROUP HoldingsClothing | ¥144.8B | 2.1% | 13.0% | +13.6% | ¥17.8B |
| 9 | Aoyama TradingBusiness wear business | ¥124.2B | 1.8% | 4.2% | +2.4% | ¥4.54B |
| 10▲3 | Workman | ¥119.2B | 1.7% | 24.9% | +9.3% | ¥10.2B |
| 11 | Look HoldingsApparel + 5 more | ¥103.5B | 1.5% | 4.7% | +6.2% | ¥1.58B |
| 12 | AOKI HoldingsFashion | ¥102.9B | 1.5% | 8.3% | +3.8% | ¥5.3B |
| 13▲1 | Rizap GroupHealthcare and Beauty | ¥69.3B | 1.0% | 8.6% | +12.2% | ¥27.1B |
| 14▲5 | MatsuokaGarment Business | ¥66B | 0.9% | 9.0% | — | ¥3.04B |
| 15 | Cross Plus | ¥59.9B | 0.9% | 2.3% | +0.3% | ¥533M |
| 16▲1 | Sanyo Shokai | ¥58.4B | 0.8% | 2.2% | +10.9% | -¥389M |
| 17▼1 | GunzeApparel | ¥58.3B | 0.8% | -2.3% | +0.6% | ¥5.12B |
| 18▲3 | Honeys Holdings | ¥57.7B | 0.8% | 10.2% | +6.2% | ¥2.89B |
| 19▲4 | Yagi &Apparel segment + 1 more | ¥56.7B | 0.8% | 9.7% | +13.6% | ¥3.29B |
| 20▲2 | TakihyoApparel and textiles | ¥56.7B | 0.8% | 1.7% | +3.7% | ¥2.16B |
| 21▼3 | KonakaFashion | ¥52.3B | 0.7% | -1.7% | -1.7% | ¥494M |
| 22▼2 | Baroque Japan | ¥51.5B | 0.7% | 0.6% | -3.4% | -¥422M |
| 23▲2 | GSI CreosOuterwear + 1 more | ¥38.1B | 0.5% | 4.9% | — | ¥4.22B |
| 24 | Haruyama Holdings | ¥35.2B | 0.5% | -1.9% | -1.0% | -¥3.45B |
| 25▲1 | DaidohClothing | ¥29.3B | 0.4% | 2.6% | +7.5% | -¥189M |
| 26▲1 | Yondoshi HoldingsApparel Business | ¥24.6B | 0.4% | 4.0% | +5.8% | ¥393M |
| 27▲5 | Tokyo Base | ¥23.7B | 0.3% | 8.2% | +7.7% | ¥182.7M |
| 28 | BellunaKimono related business | ¥22.5B | 0.3% | 6.1% | -1.6% | -¥15B |
| 29 | Laox HoldingsRetail Business | ¥20.8B | 0.3% | -0.3% | -17.3% | -¥1.01B |
| 30▲1 | Atsugitextile and apparel business | ¥20.2B | 0.3% | -7.4% | -0.0% | -¥1.85B |
| 31▼1 | Yamatointernationalinc.Textiles | ¥19.2B | 0.3% | 1.6% | +9.4% | -¥1.31B |
| 32▲1 | MRK HoldingsWoman's underwear sale and related business | ¥18.6B | 0.3% | 3.6% | +2.8% | ¥1.02B |
| 33▲3 | Nagaileben | ¥17B | 0.2% | 21.1% | -0.8% | ¥1.79B |
| 34▲1 | Tabio | ¥16.8B | 0.2% | 5.3% | +5.3% | ¥689.7M |
| 35▲2 | Tokyo SoirFormal segment + 1 more | ¥16.1B | 0.2% | 1.1% | — | ¥342.2M |
| 36▲3 | IchikuraJapanese style related | ¥15B | 0.2% | 5.1% | +1.1% | ¥965.1M |
| 37▲1 | COX | ¥15B | 0.2% | 8.9% | +3.0% | ¥589.7M |
| 38▼4 | Jichodo | ¥14.9B | 0.2% | 9.7% | -4.4% | ¥3.95B |
| 39▲8 | Human Made | ¥14.3B | 0.2% | 31.7% | +26.8% | ¥2.14B |
| 40▲13 | yutori | ¥14.2B | 0.2% | 7.6% | — | -¥108.4M |
| 41▼1 | Palemo Holdings | ¥14.1B | 0.2% | 1.4% | -5.8% | -¥439M |
| 42▼1 | NaigaiWholesales Business + 1 more | ¥13.4B | 0.2% | -1.0% | -0.2% | -¥358M |
| 43▲2 | Yamano HoldingsCore Value | ¥12.5B | 0.2% | 3.6% | — | ¥292.9M |
| 44▼2 | GyetApparel and Lifestyle Business | ¥12.4B | 0.2% | -3.3% | — | -¥4.09B |
| 45▲3 | Global Style | ¥11.5B | 0.2% | 7.0% | +8.3% | ¥392.6M |
| 46 | Moonbatpersonal belongings | ¥11.5B | 0.2% | 5.2% | +13.9% | ¥257.1M |
| 47▼3 | Sankyo SeikoFashion related | ¥11.2B | 0.2% | 2.6% | +10.7% | ¥1.62B |
| 48▲3 | T.kawabe &Apparel accessories | ¥10.9B | 0.2% | 5.6% | +4.0% | ¥546.3M |
| 49 | CharleLadies' innerwear business | ¥10.7B | 0.2% | -11.1% | — | -¥1.28B |
| 50 | YamakiHome sales + 2 more | ¥9.91B | 0.1% | -3.4% | +0.6% | -¥580.6M |
Showing the top 50. See all 76 in the list below
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- Operating costs
- SG&A
- Other
- Operating profit
- Workman7525
- Fast Retailing463717
- PAL GROUP Holdings434512
- Honeys Holdings414910
- Shimamura65269
- AOKI Holdings57349
- Rizap Group54427
- and ST HD4549
- World5143
- Aoyama Trading4846
- Onward Holdings4550
- United Arrows4847
- Yagi &6827
- Gunze6927
- TSI Holdings4552
- Look Holdings4057
- Matsuoka889
- Takihyo7918
- Cross Plus7325
- Sanyo Shokai3959
- GSI Creos908
- Baroque Japan4059
- Daidoh4851
- Konaka4061loss ¥1
- Haruyama Holdings4260loss ¥2
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- Rizap GroupIn industry
- SubsidiaryMRK Holdings57.0%
- AffiliateDream Vision45.4%
- フリージア・マクロス株式会社Outside
- AffiliateLapine35.4%
- StakeTokyo Soir18.9%
- StakeTsukamoto18.4%
- 株式会社エランOutside
- AffiliateClassico33.3%
- 株式会社西松屋チェーンOutside
- StakePalemo Holdings17.4%
- 株式会社ＺＯＺＯOutside
- Stakeyutori16.8%
- オリックス株式会社Outside
- StakeBaroque Japan15.5%
- 株式会社アカツキOutside
- TabioIn industry
- StakeNaigaicross-held11.7%
- 日本毛織株式会社Outside
- StakeSotohco.9.5%
- 光通信株式会社Outside
- StakeKawasaki&7.4%
- DaidohIn industry
- StakeSotohco.cross-held7.3%
- 東レ株式会社Outside
- StakeAtsugi6.4%
- 株式会社中央倉庫Outside
- StakeKing6.4%
- ㈱アルペンOutside
- StakeTSI Holdings6.1%
- 株式会社トーア紡コーポレーションOutside
- StakeSotohco.5.6%
- 日清紡ホールディングス株式会社Outside
- StakeYamaki5.0%
- StakeTokai Senko3.7%
- ＳＯＭＰＯホールディングス株式会社Outside
- StakeRizap Group4.9%
- 住友商事株式会社Outside
- StakeairCloset4.8%
- 美津濃株式会社Outside
- StakeLook Holdings4.7%
- 株式会社四国銀行Outside
- StakeHaruyama Holdings4.5%
- 住友不動産㈱Outside
- StakeTSI Holdings4.3%
- Sotohco.In industry
- StakeDaidohcross-held4.2%
- 伊藤忠商事株式会社Outside
- StakeMRK Holdings4.2%
- 株式会社安藤・間Outside
- StakeSaibo4.1%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.
Compare the leaders side by side
All companies in Apparel (by revenue)
All 78 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Fast Retailing¥3.4T · 15.4%
- Shimamura¥700B · 8.8%
- and ST HD¥289.7B · 6.0%
- World¥271.9B · 4.8%
- Onward Holdings¥236.8B · 5.2%
- Wacoal Holdings¥165.5B · 1.9%
- United Arrows¥164.6B · 5.5%
- TSI Holdings¥162.1B · 4.3%
- PAL GROUP Holdings¥144.8B · 13.0%
- Aoyama Trading¥124.2B · 4.2%
- Workman¥119.2B · 24.9%
- Look Holdings¥103.5B · 4.7%
- AOKI Holdings¥102.9B · 8.3%
- Rizap Group¥69.3B · 8.6%
- Matsuoka¥66B · 9.0%
- Cross Plus¥59.9B · 2.3%
- Sanyo Shokai¥58.4B · 2.2%
- Gunze¥58.3B · -2.3%
- Yagi &¥56.7B · 9.7%
- Takihyo¥56.7B · 1.7%
- Honeys Holdings¥56.2B · 8.2%
- Konaka¥52.3B · -1.7%
- Baroque Japan¥51.5B · 0.6%
- GSI Creos¥38.1B · 4.9%
- Haruyama Holdings¥35.2B · -1.9%
- Daidoh¥29.3B · 2.6%
- Yondoshi Holdings¥24.6B · 4.0%
- Tokyo Base¥23.7B · 8.2%
- Belluna¥22.5B · 6.1%
- Laox Holdings¥20.8B · -0.3%
- Atsugi¥20.2B · -7.4%
- Yamatointernationalinc.¥19.2B · 1.6%
- MRK Holdings¥18.6B · 3.6%
- Nagaileben¥17B · 21.1%
- Tabio¥16.8B · 5.3%
- Tokyo Soir¥16.1B · 1.1%
- Ichikura¥15B · 5.1%
- COX¥15B · 8.9%
- Human Made¥14.3B · 31.7%
- yutori¥14.2B · 7.6%
- Palemo Holdings¥14.1B · 1.4%
- Naigai¥13.4B · -1.0%
- Jichodo¥13.3B · 11.8%
- Tential¥12.8B · 11.3%
- Yamano Holdings¥12.5B · 3.6%
- Gyet¥12.4B · -3.3%
- Global Style¥11.5B · 7.0%
- Moonbat¥11.5B · 5.2%
- Sankyo Seiko¥11.2B · 2.6%
- T.kawabe &¥10.9B · 5.6%
- Charle¥10.7B · -11.1%
- Yamaki¥9.91B · -3.4%
- Taka-Q¥8.67B · 0.2%
- Land Business¥7.17B · -12.8%
- Fujibo Holdings¥6.32B · 6.9%
- Tsukamoto¥6.11B · 1.8%
- King¥6.05B · -0.7%
- Kyoto Kimono Yuzen Holdings¥5.95B · 4.3%
- Star seeds¥5.25B · -2.4%
- airCloset¥5.18B · -4.5%
- Saibo¥4.98B · -2.8%
- Cube¥4.86B · 1.2%
- Sotohco.¥4.53B · 3.3%
- Nihonwasou Holdings¥4.49B · 8.4%
- Crooz¥3.74B · 1.9%
- Classico¥3.63B · 4.5%
- Premier Anti-Aging¥3.23B · 6.4%
- WA¥2.98B · -3.2%
- Dream Vision¥2.42B · -9.5%
- Lapine¥1.86B · -13.0%
- Bitcoin Japan¥1.44B · 0.2%
- DM Solutions¥1.34B · 5.1%
- Anap Holdings¥1.29B · -36.1%
- Daitobo¥655.3M · 3.3%
- Kawasaki&¥537.9M · -3.5%
- Tokai Senko¥320.8M · 7.9%
- Kimuratan¥293.6M · -42.0%
- Kurashicom¥221.3M · -17.1%
Revenue · Op. margin
Related industries
- General Trading Companies
- Specialty Trading & Wholesale
- Convenience Stores
- Supermarkets
- Department Stores
- Drugstores & Pharmacies
- Electronics Retailers
- Home Centers
- Furniture, Interior & Lifestyle Goods
- Baby & Kids Goods
- Outdoor & Sporting Goods Stores
- Catalog & TV Shopping
- Secondhand Retail
- Restaurants & Pubs
- Fast Food & Quick Service
- Cafés
- Takeout & Delivery Meals
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