marutai co.,ltd (2919) Stock Price

Maltai manufactures and sells instant noodles, primarily including instant ramen sticks, plate udon, and cup noodles. Ramen sticks and plate udon are produced in-house at three factories located in Fukuoka, Saga, and Kitahata, while cup noodles and bag noodles are produced through outsourced manufacturing partners.

The company's sales are primarily conducted through five sales offices in Fukuoka, Hiroshima, Osaka, Nagoya, and Tokyo, as well as domestic and international business divisions, which supply products to mass retailers and convenience stores via exclusive distributors (primary wholesalers). Sales composition is approximately 34% cup noodles, 35% ramen sticks, and 26% plate udon, with these top three products accounting for approximately 95% of total sales.

Operations are divided by product category: ramen sticks, plate udon, cup noodles, bag noodles, and others. Major brands include Maltai Ramen, Yatai Kyushu Flavor, Nagasaki Plate Udon, and Nagasaki Champon. The company operates regional specialty series, supporting revenue through flavor differentiation and community-focused sales strategies.

The company has prioritized "profit improvement" as its top strategic objective for the medium to long term. To address depreciation expenses from the Saga Factory (completed March 2022), it has strengthened management controls using operating profit and operating profit margin as key performance indicators. Stick noodles, plate udon, and cup noodles account for approximately 95% of sales (stick noodles ~35%, cup noodles ~34%, plate udon ~26%). The company aims to establish a stable financial foundation by expanding the brand value of these core products. While specific numerical targets have not been disclosed, the company has clearly positioned profit improvement as its top priority and plans to achieve margin improvements in stages.

The company is pursuing differentiation through focused investment in production and quality. To ensure quality control and food safety, it properly operates international food safety certification (FSSC22000) at both the Fukuoka and Saga factories, maintaining strict product quality management. To improve production efficiency and reduce costs, the company is consolidating stick noodle manufacturing from its current two-factory system into the Saga Factory, aiming to secure price competitiveness and profit margins by reducing transportation and miscellaneous expenses. While maintaining in-house production of core products, the company flexibly outsources cup noodles and bag noodles to external partners.

On the sales front, the company is developing new markets through new product development and sales channel expansion. It is pursuing new demand through research and development, while focusing on expanding overseas sales and business-use channels (restaurants, institutional food services, etc.). Domestically, the company aims to increase brand awareness in the Kanto region, where its market share is low, by leveraging five sales offices and a network of exclusive distributors to strengthen supply to mass retailers and convenience stores. Using regional flavor variations as a competitive advantage through its "local specialty series," the company is expanding market share through community-focused sales.

The company is pursuing both productivity improvement and sustainability through technological innovation. It is advancing initiatives such as energy-saving measures, environmentally friendly packaging materials, extended shelf life, and food waste reduction through raw material loss reduction. The company also plans to improve factory operations and update equipment to advance automation and labor-saving measures on production lines. Through these efforts, the company aims to simultaneously maintain quality and safety, reduce costs, and achieve stable supply and improved profitability.