(3192) Stock Price

Shirohato operates an internet retail business specializing in innerwear and undergarments. The company sources products from innerwear manufacturers and sells them to individual consumers through its own website and major online shopping platforms including Rakuten Ichiba, Amazon, and Yahoo! Shopping. Innerwear is a stable demand category due to its practical product characteristics—it is less susceptible to fashion trends and seasonal fluctuations.

The company's primary customers are individual consumers, generating revenue from multiple domestic and international online retail channels. In addition to major domestic marketplaces such as Rakuten Ichiba and Amazon, Shirohato has expanded internationally to platforms including Tmall Global in China and Shopee in Southeast Asia, supporting cross-border transactions. The company also operates one directly-managed retail store at its Kyoto headquarters for product selection purposes and prioritizes customer communication through social media.

The company carries approximately 11,000 product variations across approximately 140 brands, ranging from well-known domestic brands such as Wacoal, Triumph, and Gunze to international brands. Shirohato also develops proprietary brands including "HIMICO" and "LA VIE A DEUX," and engages in joint product development with major manufacturers. The company has established a "one-stop system" that consolidates product procurement through logistics at its headquarters, and has achieved operational efficiency through its proprietary core system, the "Rakuraku Tsuhan System."

Shirohato aims to establish itself as a leading e-commerce retailer specializing in innerwear in Japan. The company combines its foundational expertise in innerwear with early-stage knowledge gained from entering the e-commerce market, creating differentiation in an increasingly competitive online retail environment. The company prioritizes revenue and operating profit as key performance indicators, pursuing sustained growth to enhance corporate value.

The core of the differentiation strategy centers on strengthening private brands (PB) and collaboration brands (CB). To avoid direct competition with other retailers, the company focuses on developing proprietary products and increasing the sales ratio through its own flagship website. The company also promotes its brand positioning as an "innerwear select shop" through carefully curated product selection, while enhancing customer satisfaction by improving logistics convenience and service quality.

As a new growth opportunity, the company is expanding collaboration with its parent company, Shiai Medical Co., Ltd. Since Shiai Medical's primary customers—dental clinics and other medical institutions—have a high proportion of female staff, the company is leveraging its sales network to expand distribution channels. Additionally, as a member of the Air Water Group, the company is expected to contribute to value creation within the group, with market development through medical-related channels becoming an important pillar of growth strategy.

The company maximizes the capacity of its current headquarters and logistics center to improve inventory management and enhance shipping speed and quality. Aiming to enrich customers' lives through its business operations, the company is building an environment where all employees maintain a sense of ownership and customer-centric perspective. The company pursues sustained growth to deliver added value to all stakeholders.