MarketLine Industry Profile
Bread & Rolls in
Japan
November 2012
Reference Code: 0104-0020
Publication Date: November 2012
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EXECUTIVE SUMMARY
Market value
The Japanese bread & rolls market grew by 1.7% in 2011 to reach a value of $4,198.6 million.
Market value forecast
In 2016, the Japanese bread & rolls market is forecast to have a value of $4,960.4 million, an increase of 18.1% since
2011.
Market volume
The Japanese bread & rolls market shrank by 0.2% in 2011 to reach a volume of 829.7 million kg.
Market volume forecast
In 2016, the Japanese bread & rolls market is forecast to have a volume of 816.4 million kg, a decrease of 1.6% since
2011.
Category segmentation
Industrial bread and rolls is the largest segment of the bread & rolls market in Japan, accounting for 71.5% of the
market's total value.
Geography segmentation
Japan accounts for 24.4% of the Asia-Pacific bread & rolls market value.
Market share
Yamazaki Baking Co., Ltd. is the leading player in the Japanese bread & rolls market, generating a 20.4% share of the
market's value.
Market rivalry
The Japanese bread & rolls market is relatively concentrated, with top four players holding 54.8% of the total market
value.
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TABLE OF CONTENTS
Executive Summary ....................................................................................................................................................... 2
Market value............................................................................................................................................................... 2
Market value forecast ................................................................................................................................................. 2
Market volume............................................................................................................................................................ 2
Market volume forecast .............................................................................................................................................. 2
Category segmentation .............................................................................................................................................. 2
Geography segmentation ........................................................................................................................................... 2
Market share .............................................................................................................................................................. 2
Market rivalry.............................................................................................................................................................. 2
Market Overview ............................................................................................................................................................ 7
Market definition ......................................................................................................................................................... 7
Market analysis .......................................................................................................................................................... 7
Market Data ................................................................................................................................................................... 8
Market value............................................................................................................................................................... 8
Market volume............................................................................................................................................................ 9
Market Segmentation ................................................................................................................................................... 10
Category segmentation ............................................................................................................................................ 10
Geography segmentation ......................................................................................................................................... 12
Market share ............................................................................................................................................................ 13
Market distribution .................................................................................................................................................... 14
Market Outlook ............................................................................................................................................................. 15
Market value forecast ............................................................................................................................................... 15
Market volume forecast ............................................................................................................................................ 16
Five Forces Analysis .................................................................................................................................................... 17
Summary .................................................................................................................................................................. 17
Buyer power ............................................................................................................................................................. 18
Supplier power ......................................................................................................................................................... 19
New entrants ............................................................................................................................................................ 20
Threat of substitutes................................................................................................................................................. 21
Degree of rivalry ....................................................................................................................................................... 22
Leading Companies ..................................................................................................................................................... 23
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Shikishima Baking Co., Ltd. ..................................................................................................................................... 23
Yamazaki Baking Co., Ltd. ....................................................................................................................................... 24
Fuji Baking Group .................................................................................................................................................... 27
Takaki Bakery Co., Ltd. ............................................................................................................................................ 28
Macroeconomic Indicators ........................................................................................................................................... 29
Country Data ............................................................................................................................................................ 29
Appendix ...................................................................................................................................................................... 31
Methodology............................................................................................................................................................. 31
Industry associations ................................................................................................................................................ 32
Related MarketLine research ................................................................................................................................... 32
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LIST OF TABLES
Table 1: Japan bread & rolls market value: $ million, 2007–11 ...................................................................................... 8
Table 2: Japan bread & rolls market volume: million kg, 2007–11 ................................................................................. 9
Table 3: Japan bread & rolls market category segmentation: % share, by value, 2007–2011 ..................................... 10
Table 4: Japan bread & rolls market category segmentation: $ million, 2007-2011 ..................................................... 10
Table 5: Japan bread & rolls market geography segmentation: $ million, 2011 ........................................................... 12
Table 6: Japan bread & rolls market share: % share, by value, 2011 .......................................................................... 13
Table 7: Japan bread & rolls market distribution: % share, by value, 2011 .................................................................. 14
Table 8: Japan bread & rolls market value forecast: $ million, 2011–16 ...................................................................... 15
Table 9: Japan bread & rolls market volume forecast: million kg, 2011–16 ................................................................. 16
Table 10: Shikishima Baking Co., Ltd.: key facts ......................................................................................................... 23
Table 11: Yamazaki Baking Co., Ltd.: key facts ........................................................................................................... 24
Table 12: Yamazaki Baking Co., Ltd.: key financials ($) .............................................................................................. 25
Table 13: Yamazaki Baking Co., Ltd.: key financials (¥) .............................................................................................. 25
Table 14: Yamazaki Baking Co., Ltd.: key financial ratios ............................................................................................ 25
Table 15: Fuji Baking Group: key facts ........................................................................................................................ 27
Table 16: Takaki Bakery Co., Ltd.: key facts ................................................................................................................ 28
Table 17: Japan size of population (million), 2007–11 ................................................................................................. 29
Table 18: Japan gdp (constant 2000 prices, $ billion), 2007–11 .................................................................................. 29
Table 19: Japan gdp (current prices, $ billion), 2007–11 ............................................................................................. 29
Table 20: Japan inflation, 2007–11 .............................................................................................................................. 30
Table 21: Japan consumer price index (absolute), 2007–11 ........................................................................................ 30
Table 22: Japan exchange rate, 2007–11 .................................................................................................................... 30
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LIST OF FIGURES
Figure 1: Japan bread & rolls market value: $ million, 2007–11 ..................................................................................... 8
Figure 2: Japan bread & rolls market volume: million kg, 2007–11 ................................................................................ 9
Figure 3: Japan bread & rolls market category segmentation: $ million, 2007-2011 .................................................... 11
Figure 4: Japan bread & rolls market geography segmentation: % share, by value, 2011........................................... 12
Figure 5: Japan bread & rolls market share: % share, by value, 2011 ......................................................................... 13
Figure 6: Japan bread & rolls market distribution: % share, by value, 2011 ................................................................. 14
Figure 7: Japan bread & rolls market value forecast: $ million, 2011–16 ..................................................................... 15
Figure 8: Japan bread & rolls market volume forecast: million kg, 2011–16 ................................................................ 16
Figure 9: Forces driving competition in the bread & rolls market in Japan, 2011 ......................................................... 17
Figure 10: Drivers of buyer power in the bread & rolls market in Japan, 2011 ............................................................. 18
Figure 11: Drivers of supplier power in the bread & rolls market in Japan, 2011 ......................................................... 19
Figure 12: Factors influencing the likelihood of new entrants in the bread & rolls market in Japan, 2011 .................... 20
Figure 13: Factors influencing the threat of substitutes in the bread & rolls market in Japan, 2011 ............................. 21
Figure 14: Drivers of degree of rivalry in the bread & rolls market in Japan, 2011 ....................................................... 22
Figure 15: Yamazaki Baking Co., Ltd.: revenues & profitability .................................................................................... 26
Figure 16: Yamazaki Baking Co., Ltd.: assets & liabilities ............................................................................................ 26
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MARKET OVERVIEW
Market definition
The bread & rolls market consists of retail sales of artisanal bread & rolls, in-store bakery bread & rolls and industrial
bread & rolls. The market is valued according to retail selling rice (RSP) and includes any applicable taxes. Any currency
conversions used in the creation of this report have been calculated using 2011 annual average exchange rates.
For the purposes of this report, Asia-Pacific comprises Australia, China, India, Indonesia, Japan, New Zealand,
Singapore, South Korea, Taiwan, and Thailand.
Market analysis
The Japanese bread & rolls market experienced low but fluctuating levels of growth for the 2007-2011 period. The
market is expected to achieve an acceleration in growth from 2012 through to the end of the forecast period in 2016.
The Japanese bread & rolls market had total revenues of $4,198.6 million in 2011, representing a compound annual
growth rate (CAGR) of 0.8% between 2007 and 2011. In comparison, the Chinese and Indian markets grew with CAGRs
of 11.1% and 8.2% respectively, over the same period, to reach respective values of $3,135.5 million and $3,823.6
million in 2011.
Market consumption volumes decreased with a compound annual rate of change (CARC) of -0.1% between 2007-2011,
to reach a total of 829.7 million kg in 2011. The market's volume is expected to fall to 816.4 million kg by the end of 2016,
representing a CARC of -0.3% for the 2011-2016 period.
The industrial bread and rolls segment was the market's most lucrative in 2011, with total revenues of $3,001.3 million,
equivalent to 71.5% of the market's overall value. The artisanal bread & rolls segment contributed revenues of $825.4
million in 2011, equating to 19.7% of the market's aggregate value.
The performance of the market is forecast to accelerate, with an anticipated CAGR of 3.4% for the five-year period 2011
- 2016, which is expected to drive the market to a value of $4,960.4 million by the end of 2016. Comparatively, the
Chinese and Indian markets will grow with CAGRs of 9.8% and 7.2% respectively, over the same period, to reach
respective values of $5,008.8 million and $5,408.8 million in 2016.
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MARKET DATA
Market value
The Japanese bread & rolls market grew by 1.7% in 2011 to reach a value of $4,198.6 million.
The compound annual growth rate of the market in the period 2007–11 was 0.8%.
Table 1: Japan bread & rolls market value: $ million, 2007–11
Year
$ million
¥ million
€ million
2007
4,07 .2
324,554.3
2,926.5
2008
4,091.2
326,068.6
2,940.2
0.5%
2009
4,109.0
327,487.3
2,953.0
0.4%
2010
4,129.3
329,105.2
2,967.6
0.5%
2011
4,198.6
334,628.4
3,017.4
1.7%
CAGR: 2007–11
SOURCE: MARKETLINE
% Growth
0.8%
MARKETLINE
Figure 1: Japan bread & rolls market value: $ million, 2007–11
SOURCE: MARKETLINE
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Market volume
The Japanese bread & rolls market shrank by 0.2% in 2011 to reach a volume of 829.7 million kg.
The compound annual rate of change of the market in the period 2007–11 was -0.1%.
Table 2: Japan bread & rolls market volume: million kg, 2007–11
Year
million kg
2007
834.3
2008
833.8
(0.1%)
2009
832.7
(0.1%)
2010
831.4
(0.2%)
2011
829.7
(0.2%)
CAGR: 2007–11
SOURCE: MARKETLINE
% Growth
(0.1%)
MARKETLINE
Figure 2: Japan bread & rolls market volume: million kg, 2007–11
SOURCE: MARKETLINE
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MARKET SEGMENTATION
Category segmentation
Industrial bread and rolls is the largest segment of the bread & rolls market in Japan, accounting for 71.5% of the
market's total value.
The Artisanal bread & rolls segment accounts for a further 19.7% of the market.
Table 3: Japan bread & rolls market category segmentation: % share, by value, 2007–2011
Category
Industrial
bread and
rolls
Artisanal
bread & rolls
In-store
bakery
Tortilla
Total
2007
2008
2009
2010
2011
2007-11
CAGR(%)
71.7%
71.6%
71.6%
71.6%
71.5%
0.4%
19.6%
19.7%
19.7%
19.6%
19.7%
0.5%
7.4%
7.4%
7.4%
7.4%
7.4%
0.4%
1.3%
1.4%
1.4%
1.4%
1.5%
3.1%
100%
100%
100%
100%
100%
4%
SOURCE: MARKETLINE
MARKETLINE
Table 4: Japan bread & rolls market category segmentation: $ million, 2007-2011
Category
Industrial bread
and rolls
Artisanal bread
& rolls
In-store bakery
Tortilla
Total
2007
2008
2009
2010
2011
2,923.5
2,923.5
2,936.0
2,961.1
3,001.3
800.5
803.0
806.8
810.5
825.4
301.1
302.4
302.4
304.9
308.8
52.4
56.8
58.0
59.1
63.1
4,077.5
4,085.7
4,103.2
4,135.6
4,198.6
SOURCE: MARKETLINE
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Figure 3: Japan bread & rolls market category segmentation: $ million, 2007-2011
SOURCE: MARKETLINE
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Geography segmentation
Japan accounts for 24.4% of the Asia-Pacific bread & rolls market value.
India accounts for a further 22.2% of the Asia-Pacific market.
Table 5: Japan bread & rolls market geography segmentation: $ million, 2011
Geography
2011
%
Japan
4,198.6
24.4
India
3,823.6
22.2
China
3,135.5
18.2
293.5
1.7
5,788.7
33.6
17,239.9
100%
South Korea
Rest of Asia-Pacific
Total
SOURCE: MARKETLINE
MARKETLINE
Figure 4: Japan bread & rolls market geography segmentation: % share, by value, 2011
SOURCE: MARKETLINE
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Market share
Yamazaki Baking Co., Ltd. is the leading player in the Japanese bread & rolls market, generating a 20.4% share of the
market's value.
Shikishima Baking Co. Ltd. accounts for a further 15% of the market.
Table 6: Japan bread & rolls market share: % share, by value, 2011
Company
% Share
Yamazaki Baking Co., Ltd.
20.4%
Shikishima Baking Co. Ltd.
15.0%
Fuji Baking Group Co., Ltd.
14.0%
Takaki Bakery Co., Ltd.
5.4%
Other
45.2%
Total
100%
SOURCE: MARKETLINE
MARKETLINE
Figure 5: Japan bread & rolls market share: % share, by value, 2011
SOURCE: MARKETLINE
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Market distribution
Independent Retailers form the leading distribution channel in the Japanese bread & rolls market, accounting for a 35.7%
share of the total market's value.
Supermarkets / hypermarkets accounts for a further 27.1% of the market.
Table 7: Japan bread & rolls market distribution: % share, by value, 2011
Channel
% Share
Independent Retailers
35.7%
Supermarkets / hypermarkets
27.1%
Specialist Retailers
19.9%
Convenience Stores
14.4%
Other
2.9%
Total
100%
SOURCE: MARKETLINE
MARKETLINE
Figure 6: Japan bread & rolls market distribution: % share, by value, 2011
SOURCE: MARKETLINE
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MARKET OUTLOOK
Market value forecast
In 2016, the Japanese bread & rolls market is forecast to have a value of $4,960.4 million, an increase of 18.1% since
2011.
The compound annual growth rate of the market in the period 2011–16 is predicted to be 3.4%.
Table 8: Japan bread & rolls market value forecast: $ million, 2011–16
Year
$ million
¥ million
€ million
% Growth
2011
4,198.6
334,628.4
3,017.4
1.7%
2012
4,322.1
344,471.4
3,106.1
2.9%
2013
4,461.9
355,613.4
3,206.6
3.2%
2014
4,619.4
368,166.2
3,319.8
3.5%
2015
4,796.4
382,273.1
3,447.0
3.8%
2016
4,960.4
395,343.9
3,56 .9
3.4%
CAGR: 2011–16
SOURCE: MARKETLINE
3.4%
MARKETLINE
Figure 7: Japan bread & rolls market value forecast: $ million, 2011–16
SOURCE: MARKETLINE
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Market volume forecast
In 2016, the Japanese bread & rolls market is forecast to have a volume of 816.4 million kg, a decrease of 1.6% since
2011.
The compound annual rate of change of the market in the period 2011–16 is predicted to be -0.3%.
Table 9: Japan bread & rolls market volume forecast: million kg, 2011–16
Year
million kg
% Growth
2011
829.7
(0.2%)
2012
827.6
(0.3%)
2013
825.2
(0.3%)
2014
822.4
(0.3%)
2015
819.3
(0.4%)
2016
816.4
(0.4%)
CAGR: 2011–16
SOURCE: MARKETLINE
(0.3%)
MARKETLINE
Figure 8: Japan bread & rolls market volume forecast: million kg, 2011–16
SOURCE: MARKETLINE
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FIVE FORCES ANALYSIS
The bread & rolls market will be analyzed taking manufacturers of breads and rolls as players. The key buyers will be
taken as retailers and consumers, and food ingredient producers as the key suppliers.
Summary
Figure 9: Forces driving competition in the bread & rolls market in Japan, 2011
SOURCE: MARKETLINE
MARKETLINE
The Japanese bread & rolls market is relatively concentrated, with top four players holding 54.8% of the total market
value.
The market is mature with industry-produced bread dominating sales. Independent retailers are the main buyers
accounting for almost 35.7% of total market value. Market players source from a wide number of suppliers, weakening
supplier power. However, they are highly reliant on the quality and efficient supply of ingredients such as wheat. This
market may be entered successfully on a small scale. However, entry barriers are raised by the high capital outlay
required for industrial bread making, stringent food regulations, and well known existing brands. Overall, rivalry in this
market is strong, intensified by high exit barriers and high fixed costs.
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Buyer power
Figure 10: Drivers of buyer power in the bread & rolls market in Japan, 2011
SOURCE: MARKETLINE
MARKETLINE
In Japan, the main distribution channels for the bread & rolls market are independent retailers, which account for 35.7%
of the total market value. Independent retailers are becoming more vertically integrated, and can pose a threat to market
players through their private label offerings. However, small bakeries can sell and produce their bread in-store. Some
larger companies often manufacture bread and operate extensive retail networks, although forward integration is unusual
for large players. Switching costs can be high for buyers in terms of big brand names, which is diminished by the
presence of the large number of different varieties of bread available. Innovation through specialty loaf launches allows
players to differentiate their product. Overall, buyer power in this market is assessed as moderate.
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Supplier power
Figure 11: Drivers of supplier power in the bread & rolls market in Japan, 2011
SOURCE: MARKETLINE
MARKETLINE
Suppliers include those entities providing ingredients such as wheat flour, yeast and eggs. There are two main ways for
players to obtain these inputs. They may purchase them on the open market, in which case they have little control over
prices, and often use techniques such as hedging to mitigate the impact of price fluctuations. Alternatively, they may
negotiate supply contracts with suppliers. Furthermore, fixed-term contracts with periodically negotiated prices are
common. Quality of the raw materials is essential if players are to maintain their image and a strong position in the
market. This is diluted to some extent by the fact that the raw material lacks differentiation and there are numerous
suppliers. Overall, supplier power is assessed as weak.
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New entrants
Figure 12: Factors influencing the likelihood of new entrants in the bread & rolls market in Japan,
2011
SOURCE: MARKETLINE
MARKETLINE
This market may be entered successfully on a small scale and through niche products, despite competition from large
players. However when selling to larger retailers such as supermarkets, scale economies do become more important.
Growth in the market has been very low, which discourages new entrants. However there is growth in the healthy and
organic segment of the market, allowing new entrants to enter the market by targeting this niche area. Shelf space is
finite and new companies may find it difficult to display their product on shelves when competing with well-known brands.
This necessitates the need for investment in production facilities and brand building before entry to the market is
undertaken. Overall, the likelihood of new entrants is moderate.
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Threat of substitutes
Figure 13: Factors influencing the threat of substitutes in the bread & rolls market in Japan, 2011
SOURCE: MARKETLINE
MARKETLINE
Most end-users purchase bread as a staple carbohydrate foodstuff, while retailers aim to buy just enough from the
market players to satisfy consumer demand. Key substitutes in this market are other foods fulfilling the same nutritional
role for the consumer: rice or noodles for example. These may have advantages to the retailers: for example, noodles
and rice have longer shelf lives, and therefore lower storage/wastage costs. Switching costs are low, which increases the
threat of substitutes. Per capita bread consumption in Japan is lower than in the west, which suggests a preference
among consumers for traditional foods with similar nutritional content, which may indicate a stronger threat from
substitutes. Bread manufacturers have been quick to capitalize on these health concerns by launching health-oriented
products, such as bread fortified with vitamins and minerals. Overall, the threat from substitutes is assessed as
moderate.
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Degree of rivalry
Figure 14: Drivers of degree of rivalry in the bread & rolls market in Japan, 2011
SOURCE: MARKETLINE
MARKETLINE
The Japanese bread & rolls market is relatively concentrated, with top four players holding 54.8% of the total market
value. Large companies present in the market include Yamazaki Baking Company and Shikishima Baking. These firms
are typically diversified into the manufacture of other food products. Smaller artisanal bread companies are more likely to
be focused on the production of bakery products and are more numerous which increases rivalry in this market. Even
though retailers are the buyers, there is a strong pull through of end user demand upon manufacturers. Bread is a
product that has high penetration levels in most countries, which leads to strong rivalry between players. Exit barriers are
high, since leaving the market would require divestment of substantial assets. Fixed costs and storage costs are also
likely to be high, which tends to intensify rivalry. Overall, rivalry is strong in this market.
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LEADING COMPANIES
Shikishima Baking Co., Ltd.
Table 10: Shikishima Baking Co., Ltd.: key facts
Head office:
5-3 Shirakabe, Higashi-ku, Nagoya-shi, Aichi 461-721, JPN
Telephone:
81 52 933 2111
Website:
www.pasconet.co.jp
SOURCE: COMPANY WEBSITE
MARKETLINE
Shikishima Baking Company is one of the leading bread and confectionery manufacturers in Japan. The company is
mainly engaged in wholesale bread and cake; and frozen foods business. The company owns 16 manufacturing facilities
(15 in Japan and 1 in the US) and employs around 4,046 people as of August 31, 2011.
The company’s business is mainly organized into three divisions: wholesale bread and cake business; frozen foods; and
overseas projects.
The company carries out wholesale bread business through the brand Chojuku. It also offers specialty Japanese style
cakes, prepared using bean jam and sponge, through wholesale cake business. In addition to wholesale business, the
company operates bakery store chains in Japan under the brand PAUL.
The frozen foods division of the company offers frozen dough and pastry products to commercial and retail customers. It
also offers its products online through Pasco. Further, it offers a range of healthy products including rye, whole wheat,
vegetable, and fruit breads.
Overseas projects division of the company manages the bakeries and plants of the company in countries such as the
US, Hong Kong, Korea, Taiwan, China and Indonesia. It also comprises bakery store chains in Hong Kong under the
brand name Panash; and in Taiwan (in joint venture with Great Wall Group) under the brand name Gino Pasco. The
company also offers other food products such as sushi and rice balls. The company also assists local bread
manufacturers with their technology in Indonesia and South Korea.
Key Metrics
As a privately held company Shikishima Baking Co., Ltd. is not obliged to release its financial information,
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Yamazaki Baking Co., Ltd.
Table 11: Yamazaki Baking Co., Ltd.: key facts
Head office:
10-1 Iwamotocho 3-chome, Chiyoda-ku, Tokyo 101-8585, JPN
Telephone:
81 3 3864 3111
Website:
www.yamazakipan.co.jp
Financial year-end:
December
Ticker:
2212, 2212
Stock exchange:
Tokyo, Osaka
SOURCE: COMPANY WEBSITE
MARKETLINE
Yamazaki Baking, through its subsidiaries, manufactures and sells bread, sweet buns, Japanese and Western-style
confectionery, processed bread, prepared rice and side dishes, and other products such as desserts, jam, and ready to
eat food products. The company operates in Asia, North America and Europe.
The company operates through three business segments which include: food, retail, and others.
The food business segment is involved in the manufacturing and marketing of bread and sweet buns; Japanese-style
confectionery and Western-style confectionery; processed bread and prepared rice and side dishes. It provides breads
including loaf bread, sweet buns, donuts, hard rolls and Danish pastries.
The company offers Japanese-style confectionery products such as kirian, sweet bean paste; castellan, sponge cake;
yokan, sweet bean jelly; dango, skewered rice dumplings; daifuku, sweet bean filled rice cakes; yaki-gashi, pancake
style sweets; and mushipan, steamed cakes. Yamazaki Baking produces Western-style confectionery products including
fresh cake products such as Swiss rolls, cream puffs, and pound cakes.
The company's processed bread and prepared rice and side dishes sell approximately 100 products such as boxed
lunches, rice balls and sandwiches through Daily Yamazaki and Yamazaki Shop stores and convenience store chains.
The company's retail business segment operates more than 99,000 stores including Daily Yamazaki stores, Yamazaki
Shop, Sun Etoile, other licensed stores, supermarkets, convenience stores and other stores. The others business
segment is engaged in manufacturing and distribution of various products such as jams, dessert products, and ready-toeat food products.
Some of the company's subsidiaries include Vie de France Yamazaki, Yamazaki California, Yamazaki France, Hong
Kong Yamazaki Baking, Thai Yamazaki, Taiwan Yamazaki, Sunmoulin Yamazaki, Sunmoulin Yamazaki (Singapore),
Shanghai Yamazaki Baking, Four Leaves and others.
Key Metrics
The company recorded revenues of $11,704 million in the fiscal year ending December 2011, an increase of .5%
compared to fiscal 2010. Its net income was $101 million in fiscal 2011, compared to a net income of $160 million in the
preceding year.
Japan - Bread & Rolls
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Table 12: Yamazaki Baking Co., Ltd.: key financials ($)
$ million
2007
2008
2009
2010
2011
9,701.9
10,184.9
11,112.7
11,646.7
11,703.8
81.3
75.1
108.4
159.6
100.7
Total assets
6,836.2
7,708.9
7,651.0
8,009.4
7,953.0
Total liabilities
4,154.9
4,806.4
4,698.5
4,908.6
4,786.3
Revenues
Net income (loss)
SOURCE: COMPANY FILINGS
MARKETLINE
Table 13: Yamazaki Baking Co., Ltd.: key financials (¥)
¥ million
2007
2008
2009
2010
2011
773,245.0
811,738.0
885,683.0
928,242.0
932,794.0
6,479.0
5,987.0
8,640.0
12,724.0
8,023.0
Total assets
544,849.0
614,399.0
609,781.0
638,348.0
633,858.0
Total liabilities
331,143.0
383,067.0
374,467.0
391,213.0
381,471.0
Revenues
Net income (loss)
SOURCE: COMPANY FILINGS
MARKETLINE
Table 14: Yamazaki Baking Co., Ltd.: key financial ratios
Ratio
2007
2008
2009
2010
2011
Profit margin
0.8%
0.7%
1.0%
1.4%
0.9%
Revenue growth
3.2%
5.0%
9.1%
4.8%
0.5%
Asset growth
1.5%
12.8%
(0.8%)
4.7%
(0.7%)
Liabilities growth
2.0%
15.7%
(2.2%)
4.5%
(2.5%)
Debt/asset ratio
60.8%
62.3%
61.4%
61.3%
60.2%
Return on assets
1.2%
1.0%
1.4%
2.0%
1.3%
SOURCE: COMPANY FILINGS
Japan - Bread & Rolls
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Figure 15: Yamazaki Baking Co., Ltd.: revenues & profitability
SOURCE: COMPANY FILINGS
MARKETLINE
Figure 16: Yamazaki Baking Co., Ltd.: assets & liabilities
SOURCE: COMPANY FILINGS
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Fuji Baking Group
Table 15: Fuji Baking Group: key facts
Head office:
1-50 Matsuzono-cho, Mizuho-ku, Nagoya, JPN
Telephone:
81 52 831 51 51
Website:
www.fujipan.co.jp
SOURCE: COMPANY WEBSITE
MARKETLINE
Fuji Baking Group is one of the leading bread, cakes and confectionery makers in Japan. The company employs about
18,000 people and is headquartered in Nagoya, Japan.
Fuji Baking Group is also engaged in logistics, manufacturing and sale of lunchboxes, noodles and daily foods business
consultancy, and insurance business.
The Fuji Baking group operations are mainly organized into five divisions: wholesale; retail bakery; delicatessen, logistics
and other enterprise.
Fuji Baking Co. Ltd., a subsidiary of the group, owns eight plants in Kanto, Chubu and Kansai districts; seven sales
departments in Chugoku, Shikoku, Kyushu; and over 33,000 distributors all over Japan. The subsidiary carries out the
baking operations of the group.
Key Metrics
No financial information available.
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Takaki Bakery Co., Ltd.
Table 16: Takaki Bakery Co., Ltd.: key facts
Head office:
3-7-1, Nakano-higashi, Aki-ku, Hiroshima, JPN
Website:
www.takaki-bakery.co.jp
SOURCE: COMPANY WEBSITE
MARKETLINE
Takaki Bakery Co., Ltd. owns and operates bakeries in Japan. The company offers European breads, pastries, cakes,
and other related products. The company offers these products to wholesale, supermarkets, restaurants, cafes, and
convenience stores.
The company was founded in 1948 and is based in Hiroshima, Japan. Takaki Bakery Co., Ltd. operates as a subsidiary
of Andersen Group.
Key Metrics
No financial information available.
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MACROECONOMIC INDICATORS
Country Data
Table 17: Japan size of population (million), 2007–11
Year
Population (million)
% Growth
2007
127.8
0.0%
2008
127.7
(0.1%)
2009
127.5
(0.1%)
2010
128.1
0.4%
2011
127.9
(0.1%)
SOURCE: MARKETLINE
MARKETLINE
Table 18: Japan gdp (constant 2000 prices, $ billion), 2007–11
Year
Constant 2000 Prices, $ billion
% Growth
2007
4,751.4
2.2%
2008
4,702.6
(1.0%)
2009
4,443.1
(5.5%)
2010
4,639.6
4.4%
2011
4,607.1
(0.7%)
SOURCE: MARKETLINE
MARKETLINE
Table 19: Japan gdp (current prices, $ billion), 2007–11
Year
Current Prices, $ billion
2007
4,356.3
0.0%
2008
4,849.2
11.3%
2009
5,035.1
3.8%
2010
5,488.5
9.0%
2011
5,868.4
6.9%
SOURCE: MARKETLINE
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% Growth
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Table 20: Japan inflation, 2007–11
Year
Inflation Rate (%)
2007
0.1%
2008
1.4%
2009
(1.4%)
2010
(0.7%)
2011
(0.3%)
SOURCE: MARKETLINE
MARKETLINE
Table 21: Japan consumer price index (absolute), 2007–11
Year
Consumer Price Index (2000 = 100)
2007
100.3
2008
101.7
2009
100.3
2010
99.6
2011
99.3
SOURCE: MARKETLINE
MARKETLINE
Table 22: Japan exchange rate, 2007–11
Year
Exchange rate ($/¥)
Exchange rate (€/¥)
2007
117.8145
161.2087
2008
103.4662
151.3969
2009
93.6167
130.1751
2010
87.8289
116.5760
2011
79.7000
110.9000
SOURCE: MARKETLINE
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APPENDIX
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, crosschecked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in-house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
-
National/Governmental statistics
-
International data (official international sources)
-
National and International trade associations
-
Broker and analyst reports
-
Company Annual Reports
-
Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date
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Industry associations
International Dairy·Deli·Bakery Association
313 Price Place, Suite 202 PO Box 5528, Madison, WI 53705-0528 USA
Tel.: 1 608 238 7908
Fax: 1 608 238 6330
www.iddba.org
International Union of Bakers and Bakers-Confectioners
Seilerstrasse 9 PO Box 3001, Berne, CHE
Tel.: 41 31 388 1414
Fax: 41 31 388 1424
www.bakeruib.org
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Bread & Rolls in Asia-Pacific
Bread & Rolls in the United States
Bread & Rolls in China
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