(3418) Stock Price

Barnivore is a company that plans and designs food and beverage establishments and accommodation facilities, which it operates directly to revitalize communities through food-centered initiatives. The company carefully designs and operates each location—including restaurants, cafes, bakeries, bars, and lodging facilities—offering services under the motto "delicious food, enjoyed more, healthier, and more affordable."

Its primary customers are real estate developers, commercial facilities, municipalities, and universities. The company partners with these entities to secure favorable locations and undertake area revitalization projects. Revenue comes from multiple sources: operating income from company-operated and commissioned stores, sales and rental income from increased real estate value through area development, and fees from planning and consulting services.

The business is divided into two main segments: the Restaurant Business and the Estate Build-Up Business. The Restaurant Business focuses on menu design, spatial design, and detailed operations tailored to local communities. The Estate Build-Up Business acquires areas with growth potential, develops integrated food and beverage, retail, and leisure facilities centered on flagship stores and accommodations to increase real estate value, and collaborates with regional revitalization partners.

Valnibarbie is rolling out its medium-term management plan as "Innovative Synergy 2030," pursuing stable growth through selective focus and resource concentration. The company has set a medium to long-term target of opening six to eight or more restaurant locations annually, with emphasis on improving sales growth rates and operating profit margins. Recently, existing store sales have exceeded plan, but new openings for the fiscal year ending July 2025 fell short at four stores against an initial plan of six, and rising utility costs and fees increased expenses. Going forward, the company plans to enhance store quality and pursue higher profitability. Valnibarbie aims to stabilize earnings and increase corporate value.

Priority investment areas are restaurant operations and estate buildup business—real estate development centered on food—with differentiation based on planning and design capabilities and region-specific operations. The company is raising real estate value through conversion to mid-sized stores using vacant properties and complex development anchored by flagship stores and accommodation facilities tailored to regional characteristics. Revenue streams include operational income plus sales, rental income, and consulting fees. Specific examples include a restaurant (opened July 2024) and cottages (opening April 2025) on approximately 2,000 square meters in southern Awaji Island, and hotel development planned for autumn 2026. In 2025, the company plans to acquire a special purpose company through collaboration with NEC Capital Solutions, with significant area profit increases expected.

For new market development, the company plans openings in northwestern Awaji Island and Izumo, plus three additional estate buildup locations. In Izumo, phase two development includes hotel openings, parking improvements, coastal development, and future residential business consideration. The company has also decided to enter Iyo City, Ehime Prefecture, targeting autumn 2028 opening to create a regionally harmonized stay-type tourism hub. On the human resources front, the company strengthened personnel functions in August 2024 and established subsidiary BRC in August 2025 to handle area development and promotion. Through content development and operational strengthening, the company aims to drive customer acquisition in new areas and recover investments through real estate liquidity. Valnibarbie is pursuing steady regional development and revenue generation.

Regarding technological innovation, the company has clearly prioritized operational efficiency and transition to high-value-added work. In the fiscal year ending July 2025, it established a dedicated IT and AI division, conducting staff training and receiving external expert guidance while expanding beyond human resources and accounting into sales and planning domains. In promotion, the company has begun partner collaboration using IT and AI. Concurrently, through the August 2023 operating subsidiary merger and October 2024 transition to an audit committee company structure, the company has strengthened governance and internal controls, aiming to maximize technology investment returns by improving risk management and decision-making speed.