Industry map/Retail, Trading & Restaurants
Catalog & TV Shopping industry map
Who earns the money in Catalog & TV Shopping, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 26 companies · ¥477.2B
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥477.2B
- Companies
- 26
- Avg. salary（parent only）
- ¥5.5M
- Industry weather
- Sunny
YoY +2.8%
Avg. age 41.4
Operating income +30.3%
Belluna[9997]
Apparel and miscellaneous goods business + 3 more
- Revenue
- ¥125.8B▼5.2%
- Operating income
- ¥2.29B▲237.4%
Margin 1.8%
Whole company: Revenue ¥218.1B · Net income ¥11.5B
Avg. salary ¥5.5M · 36.5（parent only）
Pharma Foods International[2929]
BtoC
- Revenue
- ¥56.7B▲8.0%
- Operating income
- ¥3.7B▼30.5%
Margin 6.5%
Whole company: Revenue ¥65.3B · Net income ¥368M
Avg. salary ¥5.5M · 39.3（parent only）
MTG[7806]
Direct marketing business
- Revenue
- ¥37.8B▲29.5%
- Operating income
- ¥10.6B▲61.0%
Margin 28.1%
Whole company: Revenue ¥98.8B · Net income ¥7.93B
Avg. salary ¥6.8M · 38.0（parent only）
Senshukai[8165]
Mail-order business
- Revenue
- ¥36B▼9.9%
- Operating income
- -¥3.08B
Margin -8.6%
Whole company: Revenue ¥42.1B · Net income ¥3.94B
Avg. salary ¥6.2M · 42.5（parent only）
Laox Holdings[8202]
GIFTSolution Business
- Revenue
- ¥34.5B▼6.9%
- Operating income
- ¥1.13B▼4.4%
Margin 3.3%
Whole company: Revenue ¥57.5B · Net income -¥99M
Avg. salary ¥7.6M · 45.8（parent only）
Ai ROBOTICS[247A]
- Revenue
- ¥29.4B▲106.7%
- Operating income
- ¥3.8B▲53.3%
Margin 13.0%
Avg. salary ¥16M · 33.2（parent only）
Felissimo[3396]
- Revenue
- ¥29.2B▼0.9%
- Operating income
- ¥215M▲207.1%
Margin 0.7%
Avg. salary ¥6.6M · 42.0（parent only）
halmek holdings[7119]
Halmek business
- Revenue
- ¥27.5B▲3.0%
- Operating income
- ¥1.69B▲30.0%
Margin 6.1%
Whole company: Revenue ¥33.8B · Net income ¥1.05B
Avg. salary ¥8.4M · 46.2（parent only）
TV Asahi Holdings[9409]
Shopping
- Revenue
- ¥18.4B▼9.1%
- Operating income
- ¥1.08B▼28.1%
Margin 5.9%
Whole company: Revenue ¥339.5B · Net income ¥29.7B
Vector[6058]
Direct marketing business
- Revenue
- ¥16.3B▲20.9%
- Operating income
- ¥1.14B▲52.2%
Margin 7.0%
Whole company: Revenue ¥63.8B · Net income ¥5.11B
Avg. salary ¥6.6M · 35.4（parent only）
TV TOKYO Holdings[9413]
Shopping and other
- Revenue
- ¥13.6B▼3.7%
- Operating income
- ¥453M▼33.9%
Margin 3.3%
Whole company: Revenue ¥164.9B · Net income ¥7.7B
Avg. salary ¥14.2M · 46.3（parent only）
J Frontier[2934]
Healthcare sales business + 1 more
- Revenue
- ¥11.8B▲3.8%
- Operating income
- ¥549.4MBack to profit
Margin 4.6%
Whole company: Revenue ¥21.5B · Net income ¥87.6M
Avg. salary ¥5.7M · 36.3（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Tea Life · HITO-Communications Holdings · Barcos · Hiraki · IK Holdings · Seki · 4Cs HD · Vixton · Repriority · Shinyei Kaisha · J Escom Holdings · Ureru Net Advertising Group · Yumemitsuketai · WellcoHoldings
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 | BellunaApparel and miscellaneous goods business + 3 more | ¥125.8B | 26.4% | 1.8% | -5.8% | -¥15B |
| 2 | Pharma Foods InternationalBtoC | ¥56.7B | 11.9% | 6.5% | — | -¥2B |
| 3▲4 | MTGDirect marketing business | ¥37.8B | 7.9% | 28.1% | +17.8% | -¥2.66B |
| 4▼1 | SenshukaiMail-order business | ¥36B | 7.5% | -8.6% | -13.5% | -¥3.55B |
| 5 | Laox HoldingsGIFTSolution Business | ¥34.5B | 7.2% | 3.3% | — | -¥1.01B |
| 6▲4 | Ai ROBOTICS | ¥29.4B | 6.2% | 13.0% | +103.9% | -¥6.23B |
| 7▼1 | Felissimo | ¥29.2B | 6.1% | 0.7% | -3.6% | ¥297M |
| 8 | halmek holdingsHalmek business | ¥27.5B | 5.8% | 6.2% | +10.1% | ¥1.34B |
| 9 | TV Asahi HoldingsShopping | ¥18.4B | 3.9% | 5.9% | -1.4% | ¥11.2B |
| 10▲2 | VectorDirect marketing business | ¥16.3B | 3.4% | 7.0% | +7.6% | ¥9.27B |
| 11 | TV TOKYO HoldingsShopping and other | ¥13.6B | 2.9% | 3.3% | — | ¥11.9B |
| 12▲2 | J FrontierHealthcare sales business + 1 more | ¥11.8B | 2.5% | 4.7% | — | ¥447.2M |
| 13 | Tea LifeWellness | ¥10.6B | 2.2% | 2.5% | — | ¥470M |
| 14▲1 | HITO-Communications HoldingsE-Commerce and TV-Commerce support business | ¥9.25B | 1.9% | 3.5% | -30.0% | ¥1.02B |
| 15▲2 | BarcosLifestyle proposal business | ¥5.25B | 1.1% | 7.3% | +21.4% | -¥226.9M |
| 16 | HirakiCatalog and internet sales | ¥5.22B | 1.1% | -0.6% | -12.0% | -¥158.1M |
| 17▲1 | IK HoldingsDirect marketing business | ¥4.03B | 0.8% | 1.1% | -16.9% | ¥27.9M |
| 18▲1 | SekiCatalog sales related | ¥1.42B | 0.3% | 3.7% | -1.2% | ¥7.6M |
| 19▲1 | 4Cs HDMail order | ¥1.2B | 0.3% | 15.3% | — | -¥788.2M |
| 20▲1 | VixtonBeauty and wellness business | ¥856M | 0.2% | -9.6% | — | -¥492.8M |
| 21▲1 | RepriorityCatalog and internet sales | ¥683.5M | 0.1% | 0.5% | +2.5% | ¥142.5M |
| 22▲1 | Shinyei KaishaBusiness development related,Reportable segment | ¥609M | 0.1% | -9.2% | — | ¥1.05B |
| 23▲1 | J Escom Holdingsthe mail order business | ¥570.1M | 0.1% | 9.6% | -3.8% | -¥316.4M |
| 24▲2 | Ureru Net Advertising GroupD2C (online shopping) business | ¥217.5M | 0.0% | -18.6% | — | -¥144.9M |
| 25 | YumemitsuketaiMail-order retail business | ¥130.8M | 0.0% | 17.0% | — | — |
| 26▲1 | WellcoHoldingsThe mail order business | ¥41M | 0.0% | -46.3% | — | -¥842M |
* 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
- SG&A
- Operating profit
- Vector335314
- Ai ROBOTICS276013
- Repriority474112
- MTG375211
- Belluna37558
- TV Asahi Holdings69238
- Yumemitsuketai43498
- TV TOKYO Holdings67267
- halmek holdings4451
- Pharma Foods International1977
- Tea Life6432
- HITO-Communications Holdings8016
- Shinyei Kaisha7917
- IK Holdings5938
- Barcos3266
- Felissimo4554
- J Frontier5643
- J Escom Holdings3960
- Laox Holdings6634
- Seki7823loss ¥1
- Hiraki5647loss ¥3
- Senshukai4957loss ¥6
- 4Cs HD3275loss ¥7
- Ureru Net Advertising Group4269loss ¥11
- Vixton5182loss ¥33
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- 東映株式会社Outside
- StakeTV Asahi Holdings17.7%
- 東日本旅客鉄道株式会社Outside
- StakeSenshukai12.2%
- 丸紅株式会社Outside
- StakeScroll8.3%
- ㈱メディパルホールディングスOutside
- StakeShinyei Kaisha5.3%
- 株式会社サンテックOutside
- StakeVixton5.2%
- 伊藤忠商事株式会社Outside
- StakePharma Foods International5.0%
- 株式会社愛媛銀行Outside
- StakeSeki4.0%
- 株式会社山陰合同銀行Outside
- StakeHiraki3.8%
- 三井物産㈱Outside
- StakeTV TOKYO Holdings3.8%
- ㈱フジシールインターナショナルOutside
- StakeSeki3.6%
- ㈱ノザワOutside
- StakeShinyei Kaisha3.1%
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.
Compare the leaders side by side
All companies in Catalog & TV Shopping (by revenue)
All 27 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.
- Belluna¥125.8B · 1.8%
- Pharma Foods International¥56.7B · 6.5%
- Scroll¥39B · 13.3%
- MTG¥37.8B · 28.1%
- Senshukai¥36B · -8.6%
- Laox Holdings¥34.5B · 3.3%
- Ai ROBOTICS¥29.4B · 13.0%
- Felissimo¥29.2B · 0.7%
- halmek holdings¥27.5B · 6.2%
- TV Asahi Holdings¥18.4B · 5.9%
- Vector¥16.3B · 7.0%
- TV TOKYO Holdings¥13.6B · 3.3%
- J Frontier¥10.7B · 4.1%
- Tea Life¥10.6B · 2.5%
- HITO-Communications Holdings¥9.25B · 3.5%
- Barcos¥5.25B · 7.3%
- Hiraki¥5.22B · -0.6%
- IK Holdings¥2.83B · 1.6%
- Seki¥1.42B · 3.7%
- 4Cs HD¥1.2B · 15.3%
- Vixton¥856M · -9.6%
- Repriority¥683.5M · 0.5%
- Shinyei Kaisha¥609M · -9.2%
- J Escom Holdings¥570.1M · 9.6%
- Ureru Net Advertising Group¥217.5M · -18.6%
- Yumemitsuketai¥130.8M · 17.0%
- WellcoHoldings¥41M · -46.3%
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
- Apparel
- Baby & Kids Goods
- Outdoor & Sporting Goods Stores
- Secondhand Retail
- Restaurants & Pubs
- Fast Food & Quick Service
- Cafés
- Takeout & Delivery Meals
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