(E04652) Stock Price

Matsuyama Kanko Golf is a company whose primary business is operating an 18-hole golf course in the Shikoku region. The company operates a golf course with a daily capacity of 200 players, with golf course fees accounting for 98.4% of total revenue. Since 2013, the company has also engaged in solar power generation, operating across two business segments.

The company's main customers are golf enthusiasts, primarily the 1,257 members of the affiliated Matsuyama Golf Club. The revenue structure is dominated by golf operations, which generate approximately 220 million yen in sales, while the pro shop and restaurant operations produce modest supplementary income. The solar power generation business secures stable annual revenue of approximately 62 million yen through electricity sales to Shikoku Electric Power Company.

The business is divided into two main segments. The golf course operations include running the 18-hole course as well as ancillary facilities such as a pro shop and restaurant. The solar power generation business operates equipment with a generation capacity of 1,430.4 kilowatts, with all generated electricity sold to the power company.

Matsuyama Kanko Golf is pursuing a growth strategy centered on differentiation in response to the challenging business environment following the COVID-19 pandemic. Rather than engaging in price competition with surrounding golf courses' aggressive pricing, the company plans to differentiate itself from competitors by emphasizing its unique strengths developed over more than 60 years of history. The company positions improved customer satisfaction as key to strengthening sales capabilities and aims to establish a stable long-term revenue base.

In priority investment areas, the company is focusing on course improvements and enhanced maintenance to strengthen competitive advantage on the facilities side. The strategy leverages course conditions and the authentic atmosphere of a full-scale golf course as differentiating factors to clearly distinguish itself from surrounding competitors. In parallel, the company is advancing enrichment of soft services and customer experience to improve overall customer satisfaction.

In customer segment strategies, the company deploys different approaches for members and visitors. For the 1,257 members of Matsuyama Golf Club, the company provides detailed programs that allow members to fully experience golf lifestyle. For visitor customers, the plan is to increase repeat visits by offering an authentic course environment and atmosphere unavailable at other golf courses.

To stabilize operations, the company also leverages solar power generation as an important revenue pillar. With 1,430.4 kilowatts of generation capacity, the company secures stable annual revenue of approximately 62 million yen, implementing a diversification strategy that mitigates seasonal and market fluctuation risks in the golf course business. Through this dual-pillar structure, the company aims to improve operational stability and build a sustainable growth foundation.