# Outdoor & Sporting Goods Stores industry map (FY2025)

> Scope: 5 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/outdoor
> Retrieved: 2026-09-30T18:53:19.548Z

## Size and profitability

| # | Company (business) | Revenue | Share | Op. income | Op. margin | CAGR | Period |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| 1 | Alpen | 268,655 | 45.5% | 8,516 | 3.2% | +3.6%（4y） | FY ending Jun 2025 |
| 2 | Xebio Holdings | 252,331 | 42.8% | 2,370 | 0.9% | +3.1%（4y） | FY ending Mar 2026 |
| 3 | Himaraya | 60,447 | 10.2% | 285 | 0.5% | -0.7%（4y） | FY ending Aug 2025 |
| 4 | Kanseki（WILD-1） | 8,488 | 1.4% | 66 | 0.8% | — | FY ending Feb 2026 |
| 5 | Takachiho（Outdoor article retail business） | 223 | 0.0% | -9 | -4.1% | -24.8%（4y） | FY ending Mar 2026 |

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

| Company | COGS | SG&A etc. | Op. income | Net income | FCF (JPY mn) | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Alpen | 60円 | 37円 | 3円 | 2円 | 1,876 | — |
| Xebio Holdings | 62円 | 37円 | 1円 | -1円 | -111 | — |
| Himaraya | 65円 | 35円 | 0円 | 0円 | -372 | — |
| Kanseki | 73円 | 26円 | 1円 | 1円 | -179 | — |
| Takachiho | 72円 | 23円 | 5円 | 3円 | 490 | — |

## Ownership links

| Company | Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: | ---: |
| Alpen | モルガン・スタンレーMUFG証券㈱ | Major shareholder | 0.5% | 2026-06-30 |
| Alpen | ㈱ミズノ・ホールディングス | Major shareholder | 35.2% | 2026-06-30 |
| Alpen | 水野泰三 | Major shareholder | 11.5% | 2026-06-30 |
| Alpen | 水野敦之 | Major shareholder | 8.6% | 2026-06-30 |
| Alpen | 日本マスタートラスト信託銀行㈱ (信託口) | Major shareholder | 4.2% | 2026-06-30 |
| Alpen | アルペン社員持株会 | Major shareholder | 1.3% | 2026-06-30 |
| Alpen | BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE （常任代理人 大澤正和） | Major shareholder | 0.8% | 2026-06-30 |
| Alpen | JPモルガン証券㈱ | Major shareholder | 0.5% | 2026-06-30 |
| Alpen | STATE STREET BANK AND TRUST COMPANY 510499 （常任代理人 日置貴史） | Major shareholder | 0.4% | 2026-06-30 |
| Alpen | ㈱日本カストディ銀行（信託口） | Major shareholder | 0.3% | 2026-06-30 |
| Himaraya | 株式会社コモリホールディングス | Major shareholder | 33.4% | 2025-08-31 |
| Himaraya | 株式会社大垣共立銀行 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 4.1% | 2025-08-31 |
| Himaraya | 株式会社十六銀行 | Major shareholder | 3.9% | 2025-08-31 |
| Himaraya | 小森裕作 | Major shareholder | 3.0% | 2025-08-31 |
| Himaraya | 株式会社電算システム | Major shareholder | 2.5% | 2025-08-31 |
| Himaraya | ヒマラヤ従業員持株会 | Major shareholder | 2.1% | 2025-08-31 |
| Himaraya | 小森温子 | Major shareholder | 1.9% | 2025-08-31 |
| Himaraya | 小森一輝 | Major shareholder | 1.4% | 2025-08-31 |
| Himaraya | 株式会社トーカイ | Major shareholder | 1.2% | 2025-08-31 |
| Himaraya | 小田加奈代 | Major shareholder | 1.2% | 2025-08-31 |
| Himaraya | 木島あすか | Major shareholder | 1.2% | 2025-08-31 |
| Kanseki | 服部商会株式会社 | Major shareholder | 29.2% | 2026-02-28 |
| Kanseki | 服 部 京 子 | Major shareholder | 19.6% | 2026-02-28 |
| Kanseki | ＤＣＭ株式会社 | Major shareholder | 9.8% | 2026-02-28 |
| Kanseki | 千 葉 ゆきえ | Major shareholder | 6.2% | 2026-02-28 |
| Kanseki | 服 部 正 吉 | Major shareholder | 3.8% | 2026-02-28 |
| Kanseki | 服 部 良 江 | Major shareholder | 3.5% | 2026-02-28 |
| Kanseki | 株式会社足利銀行 | Major shareholder | 1.6% | 2026-02-28 |
| Kanseki | 株式会社栃木銀行 | Major shareholder | 1.6% | 2026-02-28 |
| Kanseki | カンセキ社員持株会 | Major shareholder | 1.2% | 2026-02-28 |
| Kanseki | カンセキ取引先持株会 | Major shareholder | 1.2% | 2026-02-28 |
| Xebio Holdings | 有限会社サンビック | Major shareholder | 19.9% | 2026-03-31 |
| Xebio Holdings | 公益財団法人諸橋近代美術館 | Major shareholder | 10.9% | 2026-03-31 |
| Xebio Holdings | 有限会社ティー・ティー・シー | Major shareholder | 10.0% | 2026-03-31 |
| Xebio Holdings | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 6.4% | 2026-03-31 |
| Xebio Holdings | 諸 橋 輝 子 | Major shareholder | 3.4% | 2026-03-31 |
| Xebio Holdings | 諸 橋 友 良 | Major shareholder | 2.8% | 2026-03-31 |
| Xebio Holdings | STATE STREET BANK AND TRUST COMPANY 505001 （常任理事 株式会社みずほ銀行決済営業部） | Major shareholder | 2.7% | 2026-03-31 |
| Xebio Holdings | ＲＨＢ合同会社 | Major shareholder | 2.2% | 2026-03-31 |
| Xebio Holdings | 四 家 千 佳 史 | Major shareholder | 1.2% | 2026-03-31 |
| Xebio Holdings | ゼビオグループ従業員持株会 | Major shareholder | 1.1% | 2026-03-31 |
| Takachiho | 投資事業有限責任組合ＪＡＩＣスペシャルティファンド | Major shareholder | 8.6% | 2026-03-31 |
| Takachiho | 久保田 一臣 | Major shareholder | 6.8% | 2026-03-31 |
| Takachiho | ガバナンス・パートナーズ投資事業有限責任組合 | Major shareholder | 5.9% | 2026-03-31 |
| Takachiho | 投資事業有限責任組合ＪＡＩＣパートナーズファンド | Major shareholder | 4.6% | 2026-03-31 |
| Takachiho | 株式会社八十二長野銀行 | Major shareholder | 4.4% | 2026-03-31 |
| Takachiho | 上野投資株式会社 | Major shareholder | 4.3% | 2026-03-31 |
| Takachiho | 宮尾 聡 | Major shareholder | 3.8% | 2026-03-31 |
| Takachiho | 久保田 優子 | Major shareholder | 3.5% | 2026-03-31 |
| Takachiho | 長野信用金庫 | Major shareholder | 3.4% | 2026-03-31 |
| Takachiho | 所 正純 | Major shareholder | 3.1% | 2026-03-31 |

## Company details

- https://vizora.meequs.com/en/company/alpen/md
- https://vizora.meequs.com/en/company/xebio-holdings/md
- https://vizora.meequs.com/en/company/himaraya/md
- https://vizora.meequs.com/en/company/kanseki/md
- https://vizora.meequs.com/en/company/takachiho/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).