# Convenience Stores industry map (FY2025)

> Scope: 9 businesses (segment level)
> Unit: JPY millions. Each company's period is in the Period column
> Fiscal year: FY2025 = periods ending Apr 2025 to Mar 2026
> Page: https://vizora.meequs.com/en/industry/convenience-stores
> Retrieved: 2026-09-30T18:53:12.302Z

## Size and profitability

| # | Company (business) | Revenue | Share | Op. income | Op. margin | CAGR | Period |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| 1 | East Japan Railway Company（Trading and Service） | 416,133 | 49.9% | 68,072 | 16.4% | +10.6%（4y） | FY ending Mar 2026 |
| 2 | West Japan Railway Company（Logistics） | 232,641 | 27.9% | 16,264 | 7.0% | +17.0%（4y） | FY ending Mar 2026 |
| 3 | Yamazaki Baking（Retail business） | 79,790 | 9.6% | -884 | -1.1% | +7.6%（4y） | FY ending Dec 2025 |
| 4 | Kyushu Railway Company（Retail and Restaurant） | 71,382 | 8.6% | 3,873 | 5.4% | +13.2%（4y） | FY ending Mar 2026 |
| 5 | Sanyo Electric Railway（Retailing） | 9,360 | 1.1% | 229 | 2.4% | +2.1%（4y） | FY ending Mar 2026 |
| 6 | San-A（Convenience store business） | 9,356 | 1.1% | 2,205 | 23.6% | — | FY ending Feb 2026 |
| 7 | Pharmarise Holdings（Cosmetic,drug and convenience store） | 8,696 | 1.0% | -44 | -0.5% | +2.2%（4y） | FY ending May 2025 |
| 8 | Kobe Electric Railway（Distribution） | 5,279 | 0.6% | 24 | 0.5% | — | FY ending Mar 2026 |
| 9 | CVS Bay Area（Convenience store business） | 1,470 | 0.2% | 133 | 9.1% | +3.0%（4y） | FY ending Feb 2026 |

## Company-wide structure (¥100 model, FCF)

| Company | COGS | SG&A etc. | Op. income | Net income | FCF (JPY mn) | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| East Japan Railway Company | — | 87円 | 13円 | 8円 | -122,989 | — |
| West Japan Railway Company | — | 89円 | 11円 | 7円 | 78,495 | — |
| Yamazaki Baking | 67円 | 28円 | 5円 | 3円 | 25,576 | — |
| Kyushu Railway Company | — | 85円 | 15円 | 9円 | -13,058 | — |
| Sanyo Electric Railway | — | 89円 | 11円 | 10円 | 2,437 | — |
| San-A | 68円 | 24円 | 8円 | 5円 | 25,894 | — |
| Pharmarise Holdings | 86円 | 14円 | 0円 | -1円 | 609 | — |
| Kobe Electric Railway | — | 90円 | 10円 | 6円 | -153 | — |
| CVS Bay Area | 52円 | 46円 | 2円 | -14円 | -234 | — |

## Ownership links

| Company | Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: | ---: |
| San-A | 折田 富子 | Major shareholder | 11.0% | 2026-02-28 |
| San-A | 金城 和子 | Major shareholder | 10.7% | 2026-02-28 |
| San-A | 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 8.1% | 2026-02-28 |
| San-A | 公益財団法人折田財団 | Major shareholder | 6.5% | 2026-02-28 |
| San-A | 株式会社日本カストディ銀行(信託口) | Major shareholder | 5.3% | 2026-02-28 |
| San-A | 金城 弘道 | Major shareholder | 2.0% | 2026-02-28 |
| San-A | 折田 公仁 | Major shareholder | 1.6% | 2026-02-28 |
| San-A | 折田 典久 | Major shareholder | 1.6% | 2026-02-28 |
| San-A | RBC IST 15 PCT NON LENDING ACCOUNT - CLIENT ACCOUNT(常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 1.3% | 2026-02-28 |
| San-A | STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行） | Major shareholder | 1.3% | 2026-02-28 |
| West Japan Railway Company | 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 14.3% | 2026-03-31 |
| West Japan Railway Company | 株式会社日本カストディ銀行(信託口) | Major shareholder | 4.6% | 2026-03-31 |
| West Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 2.8% | 2026-03-31 |
| West Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505301 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 2.2% | 2026-03-31 |
| West Japan Railway Company | 株式会社三井住友銀行 | Major shareholder | 2.0% | 2026-03-31 |
| West Japan Railway Company | 株式会社三菱UFJ銀行 | Major shareholder | 1.9% | 2026-03-31 |
| West Japan Railway Company | 日本生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |
| West Japan Railway Company | JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |
| West Japan Railway Company | JR西日本社員持株会 | Major shareholder | 1.4% | 2026-03-31 |
| West Japan Railway Company | JPモルガン証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| Kyushu Railway Company | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 12.8% | 2026-03-31 |
| Kyushu Railway Company | JP MORGAN CHASE BANK 385642 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.2% | 2026-03-31 |
| Kyushu Railway Company | 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.8% | 2026-03-31 |
| Kyushu Railway Company | THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.6% | 2026-03-31 |
| Kyushu Railway Company | 太陽生命保険株式会社 | Major shareholder | 2.1% | 2026-03-31 |
| Kyushu Railway Company | ＪＰモルガン証券株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| Kyushu Railway Company | 株式会社日本カストディ銀行（信託口４） | Major shareholder | 1.6% | 2026-03-31 |
| Kyushu Railway Company | 日本生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| Kyushu Railway Company | 明治安田生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| Kyushu Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.5% | 2026-03-31 |
| East Japan Railway Company | 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 13.6% | 2026-03-31 |
| East Japan Railway Company | 株式会社日本カストディ銀行(信託口) | Major shareholder | 4.6% | 2026-03-31 |
| East Japan Railway Company | JR東日本グループ社員持株会 | Major shareholder | 3.7% | 2026-03-31 |
| East Japan Railway Company | 株式会社みずほ銀行 (常任代理人 株式会社日本カストディ銀行) | Major shareholder | 2.8% | 2026-03-31 |
| East Japan Railway Company | 日本生命保険相互会社 (常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 1.9% | 2026-03-31 |
| East Japan Railway Company | STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.8% | 2026-03-31 |
| East Japan Railway Company | 株式会社三井住友銀行 | Major shareholder | 1.5% | 2026-03-31 |
| East Japan Railway Company | JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |
| East Japan Railway Company | 三菱UFJ信託銀行株式会社 (常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 1.3% | 2026-03-31 |
| East Japan Railway Company | 株式会社三菱UFJ銀行 | Major shareholder | 1.2% | 2026-03-31 |
| CVS Bay Area | 株式会社ユネイシア | Major shareholder | 27.3% | 2026-02-28 |
| CVS Bay Area | 泉澤 豊 | Major shareholder | 14.7% | 2026-02-28 |
| CVS Bay Area | 泉澤 摩利雄 | Major shareholder | 4.4% | 2026-02-28 |
| CVS Bay Area | 泉澤 節子 | Major shareholder | 2.9% | 2026-02-28 |
| CVS Bay Area | 倉 剛進 | Major shareholder | 2.1% | 2026-02-28 |
| CVS Bay Area | 金室 貴久 | Major shareholder | 1.9% | 2026-02-28 |
| CVS Bay Area | 瀬間 義信 | Major shareholder | 1.3% | 2026-02-28 |
| CVS Bay Area | 中川 一成 | Major shareholder | 1.1% | 2026-02-28 |
| CVS Bay Area | 株式会社京葉銀行 | Major shareholder | 1.1% | 2026-02-28 |
| CVS Bay Area | 猪鼻 隆行 | Major shareholder | 0.8% | 2026-02-28 |
| Pharmarise Holdings | ㈱ビックフィールド | Major shareholder | 26.2% | 2026-05-31 |
| Pharmarise Holdings | ㈱スズケン | Major shareholder | 20.1% | 2026-05-31 |
| Pharmarise Holdings | 大野小夜子 | Major shareholder | 4.5% | 2026-05-31 |
| Pharmarise Holdings | 大野利美知 | Major shareholder | 3.7% | 2026-05-31 |
| Pharmarise Holdings | ファーマライズ従業員持株会 | Major shareholder | 3.6% | 2026-05-31 |
| Pharmarise Holdings | 中北薬品㈱ | Major shareholder | 3.4% | 2026-05-31 |
| Pharmarise Holdings | ㈱バイタルネット | Major shareholder | 3.4% | 2026-05-31 |
| Pharmarise Holdings | 平松 仁 | Major shareholder | 1.0% | 2026-05-31 |
| Pharmarise Holdings | ㈱ファミリーマート | Major shareholder | 0.9% | 2026-05-31 |
| Pharmarise Holdings | 明治安田生命保険相互会社 | Major shareholder | 0.9% | 2026-05-31 |
| Kobe Electric Railway | 阪急阪神ホールディングス 株式会社 | Major shareholder | 27.7% | 2026-03-31 |
| Kobe Electric Railway | 日本マスタートラスト 信託銀行株式会社（信託口） | Major shareholder | 4.9% | 2026-03-31 |
| Kobe Electric Railway | 株式会社三井住友銀行 | Major shareholder | 2.0% | 2026-03-31 |
| Kobe Electric Railway | 株式会社みなと銀行 | Major shareholder | 1.1% | 2026-03-31 |
| Kobe Electric Railway | 阪急電鉄株式会社 | Major shareholder | 1.0% | 2026-03-31 |
| Kobe Electric Railway | BNP PARIBAS NEW YORK BRANCH-PRIME BROKERAGE CLEARANCE ACCOUNT （常任代理人 香港上海銀行東京支店） | Major shareholder | 0.6% | 2026-03-31 |
| Kobe Electric Railway | UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 0.6% | 2026-03-31 |
| Kobe Electric Railway | 三菱ＵＦＪ信託銀行株式会社 | Major shareholder | 0.4% | 2026-03-31 |
| Kobe Electric Railway | 株式会社日本カストディ銀行 （信託口） | Major shareholder | 0.4% | 2026-03-31 |
| Kobe Electric Railway | 西松建設株式会社 | Major shareholder | 0.4% | 2026-03-31 |
| Yamazaki Baking | 飯島興産株式会社 | Major shareholder | 9.5% | 2025-12-31 |
| Yamazaki Baking | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 8.8% | 2025-12-31 |
| Yamazaki Baking | 公益財団法人飯島藤十郎記念食品科学振興財団 | Major shareholder | 6.3% | 2025-12-31 |
| Yamazaki Baking | 株式会社日清製粉グループ本社 | Major shareholder | 5.6% | 2025-12-31 |
| Yamazaki Baking | 三菱商事株式会社 | Major shareholder | 5.0% | 2025-12-31 |
| Yamazaki Baking | 丸紅株式会社 | Major shareholder | 4.1% | 2025-12-31 |
| Yamazaki Baking | 明治安田生命保険相互会社 | Major shareholder | 3.3% | 2025-12-31 |
| Yamazaki Baking | 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.9% | 2025-12-31 |
| Yamazaki Baking | STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行 決済営業部） | Major shareholder | 2.0% | 2025-12-31 |
| Yamazaki Baking | 株式会社三井住友銀行 | Major shareholder | 2.0% | 2025-12-31 |
| Sanyo Electric Railway | 阪神電気鉄道株式会社 | Major shareholder | 17.4% | 2026-03-31 |
| Sanyo Electric Railway | 日本マスタートラスト信託銀行 株式会社（信託口） | Major shareholder | 5.3% | 2026-03-31 |
| Sanyo Electric Railway | 関電不動産開発株式会社 | Major shareholder | 5.0% | 2026-03-31 |
| Sanyo Electric Railway | 株式会社三井住友銀行 | Major shareholder | 2.8% | 2026-03-31 |
| Sanyo Electric Railway | みずほ信託銀行株式会社 退職給付信託 川崎重工業口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 1.2% | 2026-03-31 |
| Sanyo Electric Railway | 日本マスタートラスト信託銀行 株式会社 （退職給付信託神姫バス口） | Major shareholder | 1.2% | 2026-03-31 |
| Sanyo Electric Railway | 三井住友信託銀行株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| Sanyo Electric Railway | 鹿島建設株式会社 | Major shareholder | 1.0% | 2026-03-31 |
| Sanyo Electric Railway | モロゾフ株式会社 | Major shareholder | 0.9% | 2026-03-31 |
| Sanyo Electric Railway | JP MORGAN CHASE BANK 385781 （常任代理人 株式会社みずほ銀行 決済営業部） | Major shareholder | 0.9% | 2026-03-31 |

## Company details

- https://vizora.meequs.com/en/company/east-japan-railway/md
- https://vizora.meequs.com/en/company/west-japan-railway/md
- https://vizora.meequs.com/en/company/yamazaki-baking/md
- https://vizora.meequs.com/en/company/kyushu-railway/md
- https://vizora.meequs.com/en/company/sanyo-electric-railway/md
- https://vizora.meequs.com/en/company/san-a/md
- https://vizora.meequs.com/en/company/pharmarise-holdings/md
- https://vizora.meequs.com/en/company/kobe-electric-railway/md
- https://vizora.meequs.com/en/company/cvs-bay-area/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).