Overview
Foods

Delsole Corporation

Del Sol Co., Ltd. manufactures and sells frozen pizza and ethnic bread products under the Del Sol brand, supplying to major delivery pizza chains and retail consumers across Japan. The company also operates a restaurant and takeout business, including premium yakitori and chicken deli (direct and franchise), as well as the 'Sho-un Sho-fuku Taiyaki' takeout brand and a home delivery business. Its Hokkaido 'Harvester Yakumo' flagship restaurant and its long-established production facilities in Kyushu, Chiba, and Tama underpin its vertically integrated food operations.

Market Cap
¥4.20B
US$26.8M
EV
¥2.20B
US$14.0M
Stock¥472▲+0.85%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.2
x
LTM EV/EBIT
3.5
x
LTM PER
9.8
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-11.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
4.20BUS$26.8MMarket Cap0.08BUS$0.48M+ Debt1.83BUS$11.7M− Cash0.24BUS$1.55M− Inv. Sec.2.20BUS$14.0MEV
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Performance & Balance
Revenue 5Y (¥B)
15.5US$98.6M'22/316.9US$108M'23/317.8US$113M'24/315.4US$98.2M'25/314.6US$93.2M'26/3
EBITDA 5Y (¥B)
1.02US$6.51M'22/30.87US$5.53M'23/31.60US$10.2M'24/30.92US$5.86M'25/30.77US$4.91M'26/3
Net Income 5Y (¥B)
0.64US$4.09M'22/30.30US$1.93M'23/30.60US$3.82M'24/3-0.42-US$2.69M'25/30.21US$1.35M'26/3
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.76US$11.2M0.55US$3.51M'22/31.82US$11.6M0.47US$3.00M'23/32.49US$15.9M0.21US$1.34M'24/32.93US$18.7M0.15US$0.96M'25/31.96US$12.5M0.09US$0.57M'26/3
Shareholders
Top 10 hold 69.7%
1
Aiko OKAWARA
25.40%
2
Takeshi OKAWARA
17.23%
3
PT INDOFOOD CBP SUKSES MAKMUR TBK (Standing Proxy: SMBC Nikko Securities Inc.)
10.11%
4
Mitsuuroko Group Holdings Co.,Ltd.
3.37%
5
Nichirei Foods Inc.
2.86%
6
MUFG Bank, Ltd.
2.41%
7
Marine Foods Co., Ltd.
2.31%
8
The Shoko Chukin Bank, Ltd.
2.25%
9
Nisshin Flour Milling Inc.
2.02%
10
Ryusuke WADA
1.75%
Management
12 officers
Takeshi OKAWARA
Representative Director, CEO
Nov 1970 Joined Nippon Kentucky Fried Chicken Co., Ltd. Nov 1971 Appointed Director of Nippon Kentucky Fried Chicken Co., Ltd. Jul 1973 Appointed Managing Director of Nippon Kentucky Fried Chicken Co., Ltd. Aug 1978 Appointed Senior Managing Director of Nippon Kentucky Fried Chicken Co., Ltd. Feb 1984 Appointed Representative Director, President of Nippon Kentucky Fried Chicken Co., Ltd. Apr 2000 Appointed Director of Japan Retail Maintenance Co., Ltd. (now WATAMI Energy Co., Ltd.) Feb 2002 Appointed Special Advisor of Nippon Kentucky Fried Chicken Co., Ltd. Mar 2002 Appointed Advisor of Mitsubishi Corporation Mar 2002 Joined the Company as Advisor Mar 2002 Appointed Representative Director, President of Comme Sa Net Co., Ltd. Jun 2002 Appointed Director of the Company Oct 2003 Appointed Representative Director, Chairman of the Company Jan 2006 Appointed Representative Director, President of Honobono Undo Co., Ltd. Apr 2006 Appointed Director of Popola Mama Co., Ltd. Jun 2007 Appointed Representative Director, CEO of the Company (current) Jun 2011 Assigned as COO of Business Development Division of the Company Dec 2012 Appointed Chief Director of Jueshike Hong Kong Holdings Limited
1943-09-05
Eiji TAKENAGA
Representative Director, President
Jul 2001 Joined Starbucks Coffee Japan, Ltd. Oct 2003 Joined Mic Foods Ltd. Oct 2004 Appointed Director of Mic Foods Ltd. Aug 2005 Appointed Representative Director, President of Japan Food System Co., Ltd. Jun 2009 Joined the Company Jun 2013 Appointed Executive Officer, GL of Business Development Division Feb 2019 Appointed Executive Officer, Deputy Head of Production Division, Delsole Business Division, and Plant Manager, Chiba Plant May 2021 Appointed Assistant Director, Plant Manager, Chiba Plant, and Production Technology Team Manager, Manufacturing & Development Unit Jun 2022 Appointed Director of the Company (current); in charge of Chiba Plant under Manufacturing & Development Unit Mar 2024 Commissioned as Production Technology Team Leader Jan 2026 Appointed Representative Director, President of the Company (current)
1978-04-12
Ernest M. HIGA
Director
Aug 1976 Joined Higa Industries Co., Ltd. (now Domino's Pizza Japan, Inc.) Apr 1979 Appointed Representative Director, President of Higa Industries Co., Ltd. Sep 1985 Became exclusive licensee of Domino's Pizza, Inc. in Japan and opened the first home-delivery pizza chain in Japan Feb 2010 Appointed Representative Director, Chairman of Higa International Co., Ltd. (now Higa Industries Co., Ltd.) Jun 2010 Appointed Director of the Company (current) Feb 2011 Established Wendy's Japan LLC (now Wendy's Japan K.K.) and appointed Chief Executive Officer Jun 2013 Appointed Outside Director of Shinsei Bank, Ltd. Apr 2015 Appointed Representative Director, Chairman and President of Higa Industries Co., Ltd. (current) Sep 2016 Appointed Representative Director, Chairman of Wendy's Japan K.K. (current) Apr 2017 Appointed Trustee of Showa Women's University Aug 2018 Appointed Trustee of Temple University Japan Campus (current) Apr 2026 Appointed Councilor of Showa Women's University (current)
1952-10-15
Shuichi INBE
Director, in charge of Administration Unit
Apr 1990 Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) May 2012 Appointed Deputy General Manager, SME Screening Office and Financial Facilitation Promotion Office of MUFG Bank, Ltd. Apr 2013 Appointed Deputy Branch Manager, Ikebukuro Branch of MUFG Bank, Ltd. Jul 2016 Appointed General Manager, Business Loan Department of MUFG Bank, Ltd. Jul 2019 Joined the Company; appointed Acting General Manager, Management Strategy Office Nov 2019 Appointed Acting General Manager, Management Strategy Office, and Assistant to General Manager, Administration Division Jun 2020 Appointed Executive Officer, General Manager, Management Strategy Office, and Assistant to General Manager, Administration Division Apr 2021 Appointed Assistant Director, General Manager, Management Strategy Office, and Assistant to Senior Managing Director Jun 2021 Appointed Director of the Company (current); in charge of Administration Unit (current); commissioned as General Manager, Management Strategy Office Jun 2022 Commissioned as General Manager, Strategic Planning Office (current)
1967-06-03
Hiroyuki SAEGUSA
Director, in charge of Administration Unit
Apr 1986 Joined Toyo Fire & Marine Insurance Co., Ltd. (now SECOM General Insurance Co., Ltd.) Apr 1999 Appointed Section Manager, Head Office Sales Planning Department of Toyo Fire & Marine Insurance Co., Ltd. Apr 2000 Appointed Branch Manager, Kiryu Branch of Toyo Fire & Marine Insurance Co., Ltd. Apr 2006 Joined the Company Jan 2008 Appointed Executive Officer, GL of General Affairs & HR Group, Administration Division Jun 2019 Appointed Senior Managing Executive Officer, GL of General Affairs & HR Group Apr 2021 Appointed Assistant Director, Team Manager of General Affairs & HR Team, Administration Unit Jun 2022 Appointed Director of the Company (current); in charge of Administration Unit (current); commissioned as Team Leader of General Affairs & HR Team (current)
1963-11-03
Yoshiaki KURIMOTO
Director, in charge of Sales Unit and Food Business
Apr 1987 Joined Sato Corporation (now Sato Food Service Co., Ltd.) Feb 1990 Joined Toyo Seal Industries Co., Ltd. Apr 1991 Joined the Company Apr 2007 Appointed General Manager, Nagoya Branch, West Japan Division Apr 2014 Appointed Deputy General Manager, Osaka Branch, West Japan Division Apr 2021 Appointed General Manager, Osaka Branch, West Japan Division Dec 2023 Appointed Executive Officer, Head of West Japan Sales, General Manager, Osaka Branch, and Head of Osaka Second Team Feb 2025 Appointed Acting Executive Officer in charge of Sales Unit, Head of Food Business Sales, General Manager, Osaka Branch, and Head of Osaka Second Team Dec 2025 Appointed Acting Executive Officer in charge of Sales Unit, Head of Food Business Sales, General Manager, Osaka Branch (stationed at Head Office), and Head of Osaka Second Team Apr 2026 Appointed Executive Officer, in charge of Food Business under Sales Unit Jun 2026 Appointed Director of the Company (current); in charge of Sales Unit (current); in charge of Food Business (current)
1965-09-17
Toshiyuki KATO
Director, in charge of Sales Unit and Restaurant Business
Apr 1990 Joined Nikko Kadomaru Securities Co., Ltd. (now Mizuho Securities Co., Ltd.) Jul 1997 Joined the Company Jun 2013 Appointed Executive Officer, GL of Store & FC Development Group, Comme Sa Business Division, and in charge of Business Planning Office Jun 2020 Appointed Executive Officer, Acting COO of Comme Sa Business Division, GL of Business Planning & Development Group, Comme Sa Business Division, and Comme Sa Marketing TL, Sales Management Group Apr 2021 Appointed Assistant Director, Team Manager of Sales Support, Restaurant Business Unit Apr 2023 Appointed Executive Officer, Assistant to Director, Sales Unit, GL of Restaurant Group, and GL of Takeout Group Apr 2025 Appointed Acting Executive Officer, Sales Unit, GL of Restaurant Group, and GL of Takeout Group Apr 2026 Appointed Executive Officer, in charge of Restaurant Business under Sales Unit, and Restaurant Team Leader Jun 2026 Appointed Director of the Company (current); in charge of Sales Unit (current); in charge of Restaurant Business (current); commissioned as Restaurant Team Leader (current)
1967-01-26
Mitsugu ENDO
Director
Apr 1970 Joined Kewpie Corporation Jan 1972 Joined Sanei Shokuhin Hanbai Co., Ltd. Feb 1987 Appointed Director of Sanei Shokuhin Hanbai Co., Ltd. Dec 1990 Joined Kewpie Corporation; appointed Manager, P Team, Wide-area Sales Department Feb 2001 Appointed Director and General Manager, Wide-area Sales Department of Kewpie Corporation Feb 2002 Appointed Director and General Manager, Business-use Sales Division of Kewpie Corporation Jul 2004 Appointed Director and General Manager, Marketing Division of Kewpie Corporation Feb 2010 Appointed Senior Managing Director and General Manager, Product Development Department of Kewpie Corporation May 2013 Appointed Advisor of P&E Directions Co., Ltd. (current) Mar 2014 Appointed Advisor of Sugita Ace Co., Ltd. (current) May 2016 Appointed Director of International Food Culture Exchange Association (current) May 2023 Appointed Outside Director of Try International, Inc. (current) Jun 2023 Appointed Outside Director of the Company (current)
1948-03-19
Shunichiro KANEHARA
Full-time Corporate Auditor
Apr 1982 Joined Mitsubishi Corporation Dec 1989 Appointed General Manager, Finance & Accounting Department, Japan Australia LNG (MIMI) Pty. Ltd. (Melbourne, Australia) Jun 1995 Appointed Section Manager, International Finance Department, Mitsubishi Corporation Feb 2002 Appointed Senior Vice President, Mitsubishi International Corporation (New York, USA) Feb 2008 Appointed Head of Corporate Finance & M&A Office, Treasurer's Office, Mitsubishi Corporation Apr 2011 Appointed General Manager, Financial Development Department, Mitsubishi Corporation Apr 2014 Appointed General Manager, Finance Department, and Part-time Corporate Auditor of Mitsubishi Corporation Financial Service Apr 2015 Appointed Executive Officer, General Manager, Finance Department, and Part-time Corporate Auditor of Mitsubishi Corporation Financial Service Jun 2017 Appointed Director, Senior Managing Executive Officer and CFO of Japan KFC Holdings, Inc., and Director of Nippon Kentucky Fried Chicken Co., Ltd. Jul 2022 Appointed Advisor of the Company Jun 2023 Appointed Outside Corporate Auditor of the Company (current)
1959-04-06
Izumi TAKAYANAGI
Corporate Auditor
Mar 1973 Joined Nippon Kentucky Fried Chicken Co., Ltd. Apr 1987 Seconded to International Process Foods Co., Ltd. (formerly Comme Sa Net Co., Ltd.) Jul 1991 Appointed Director and General Manager, Restaurant Business of International Process Foods Co., Ltd. Nov 1994 Appointed Managing Director and Head of Restaurant Business Division of International Process Foods Co., Ltd. Apr 1996 Appointed Representative Director, Managing Director of International Process Foods Co., Ltd. Apr 2001 Appointed Representative Director, Senior Managing Director of International Process Foods Co., Ltd. Oct 2003 Appointed Senior Managing Executive Officer of the Company; in charge of Store Development and Construction Facilities, Comme Sa Business Division (now Restaurant Business Division) Jan 2006 Appointed Director of Honobono Undo Co., Ltd. Jun 2012 Appointed Full-time Corporate Auditor of the Company; appointed Corporate Auditor of Honobono Undo Co., Ltd. Jun 2014 Appointed Corporate Auditor of the Company (current)
1950-01-29
Masaki KONDO
Director
Apr 1978 Joined Mitsubishi Corporation Apr 2001 Appointed Coffee Unit Manager, Food Division, Mitsubishi Corporation Apr 2004 Appointed Head of Strategic Planning Office attached to Food Division, Mitsubishi Corporation Apr 2008 Appointed President, Mitsubishi Corporation do Brasil S.A. Apr 2013 Appointed Assistant to CEO, Lifestyle Industry Group, Mitsubishi Corporation Jun 2014 Appointed Representative Director, President of Japan KFC Holdings, Inc. Jun 2014 Appointed Representative Director, President of Nippon Kentucky Fried Chicken Co., Ltd. Jun 2021 Appointed Advisor of Japan KFC Holdings, Inc. May 2022 Appointed Director of Japan Colombia Friendship Association (current) Jun 2024 Appointed Outside Director of the Company (current) Jan 2025 Appointed Outside Director of ASK Corporation (current) Mar 2025 Appointed Outside Director of Unicafe Inc. (current)
1955-01-05
Katsushige YAMADA
Corporate Auditor
Apr 1976 Entered the Legal Training and Research Institute of the Supreme Court of Japan Apr 1978 Joined Sogi, Shinmei, Tsuchiya, Shimoyamada & Osanai Law Office Apr 1981 Appointed Partner and Head of Yamada Law & Patent Office Jun 1990 Appointed Corporate Auditor of Mitsuuroko Co., Ltd. (now Mitsuuroko Group Holdings Co., Ltd.) Jun 2003 Appointed Outside Corporate Auditor of the Company (current) Jan 2010 Appointed Outside Corporate Auditor of Japan Medical Business Co., Ltd. (current) Jun 2015 Appointed Director (Audit and Supervisory Committee Member) of Mitsuuroko Group Holdings Co., Ltd. Jun 2018 Appointed Outside Corporate Auditor of Super Nurse Co., Ltd. (current) Jun 2018 Appointed Director (Audit and Supervisory Committee Member) of Shodensha Holdings Co., Ltd. (now SDS Holdings Co., Ltd.) Nov 2025 Appointed Representative Attorney, Yamada Group, Toranomon Law & Economics Office (current)
1949-12-19
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-14
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-16
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-14
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-14
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-06-23
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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