Overview
Retail Trade

Fundely Co.,Ltd.

Fundely operates a Medical Food Delivery (MFD) business delivering nutritionally tailored frozen meal sets ('Mealtime') to patients with lifestyle-related diseases such as diabetes, hypertension, and kidney disease, supported by free counseling from registered dietitians. The company distributes its mail-order health food catalog 'Mealtime' through a nationwide referral network of approximately 19,200 medical institutions, pharmacies, and care facilities, differentiating itself through physician- and dietitian-led customer referrals. In addition, Fundely operates a Chilled/Frozen Food Delivery (CID) business focused on domestically sourced seasonal ingredients, and a Marketing business leveraging its catalog and referral network for advertising space sales and product sampling services.

Market Cap
¥2.67B
US$17.1M
EV
¥5.53B
US$35.3M
Stock¥211▼-0.94%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
16.4
x
LTM EV/EBIT
46.9
x
LTM PER
46.9
x
LTM PBR
9.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-22.2%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 2, 26Activist investor shareholder proposal
MC → EV Bridge
2.67BUS$17.1MMarket Cap3.38BUS$21.5M+ Debt0.52BUS$3.31M− Cash0.00BUS$0.00M− Inv. Sec.5.53BUS$35.3MEV
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Performance & Balance
Revenue 5Y (¥B)
3.12US$19.9M'22/32.81US$17.9M'23/32.65US$16.9M'24/32.46US$15.7M'25/32.62US$16.7M'26/3
EBITDA 5Y (¥B)
0.32US$2.04M'22/3-0.04-US$0.26M'23/30.30US$1.91M'24/30.11US$0.69M'25/30.35US$2.25M'26/3
Net Income 5Y (¥B)
-1.95-US$12.4M'22/3-0.28-US$1.81M'23/30.07US$0.42M'24/3-0.18-US$1.17M'25/30.07US$0.46M'26/3
Capital Structure
93%
EquityD/E 12.53xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.07US$6.80M4.53US$28.9M'22/30.98US$6.22M4.26US$27.1M'23/30.78US$4.98M3.99US$25.4M'24/30.76US$4.84M3.72US$23.7M'25/30.55US$3.49M3.45US$22.0M'26/3
Shareholders
Top 10 hold 66.6%
1
Kosuke ABE
59.96%
2
Fuyo ABE
1.97%
3
Mio RIKAWA
1.24%
4
Yasumichi AIDA
0.79%
5
Yoshiko ABE
0.66%
6
Tomoki MIYAIRI
0.55%
7
Mikio UDA
0.37%
8
Kenji MORITA
0.36%
9
Rakuten Securities, Inc. (Joint Account)
0.33%
10
Hiroshi IRISAWA
0.33%
Management
6 officers
Kosuke ABE
Representative Director; General Manager, MFD Business Division
Apr 1996 Joined Asahi Fire & Marine Insurance Co., Ltd. (currently Rakuten General Insurance Co., Ltd.) Sep 2000 Established the Company; Representative Director Feb 2016 Representative Director; General Manager, Corporate Management Division Jun 2020 Representative Director May 2025 Representative Director; General Manager, MFD Business Division (current)
1972-11-15
Mio RIKAWA
Director; General Manager, Marketing Business Division
Apr 2001 Joined the Company Jul 2010 Director; General Manager, Marketing Business Division Oct 2014 Director; in charge of Marketing Business Apr 2015 Director; General Manager, Marketing Business Division Feb 2024 Director; General Manager, Sales Division; concurrently General Manager, MFD Business Division May 2025 Director; General Manager, Marketing Business Division (current)
1981-03-03
Tomonori KAYANO
Director; General Manager, Corporate Management Division
Dec 2008 Joined Azusa Audit LLC Sep 2012 Registered as Certified Public Accountant Mar 2013 Joined the Company Sep 2016 General Manager, Human Resources and General Affairs Department Jun 2020 Director; General Manager, Corporate Management Division (current)
1983-10-16
Hideto MATSUZAWA
Director (Full-time Audit and Supervisory Committee Member)
Oct 1990 Joined Harada Industry Co., Ltd. Oct 2015 General Manager, General Affairs and Legal Department, Harada Industry Co., Ltd. Jun 2017 Full-time Audit & Supervisory Board Member, Harada Industry Co., Ltd. Jun 2023 Executive Advisor, Harada Industry Co., Ltd. Jun 2024 Full-time Outside Audit & Supervisory Board Member, the Company Jun 2025 Outside Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1961-07-21
Takashi NARIGAN
Director (Audit and Supervisory Committee Member)
Nov 1996 Joined Asahi Audit Corporation (currently Azusa Audit LLC) May 2000 Registered as Certified Public Accountant Aug 2003 Joined Kennedy Wilson Japan Ltd. (currently Kenedix, Inc.) Jan 2008 Opened Takashi Narigan CPA Office; Head of Office (current) Apr 2009 Audit & Supervisory Board Member, Epco Co., Ltd. Jul 2010 Outside Audit & Supervisory Board Member, the Company Mar 2016 Outside Director (Audit and Supervisory Committee Member), Epco Co., Ltd. Sep 2017 Outside Director, B-Break Systems Inc. Sep 2023 Outside Director (Audit and Supervisory Committee Member), B-Break Systems Inc. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1973-01-04
Kosaku ASAI
Director (Audit and Supervisory Committee Member)
Apr 2006 Joined Nomura Securities Co., Ltd. Jan 2022 Founded Auxiliary Partners Inc. (currently CO Partners Inc.); Representative Director (current) Jun 2022 Outside Audit & Supervisory Board Member, the Company Sep 2023 Outside Director, Geekly Inc. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1983-07-24
Large Shareholding Reports
Kosuke ABE
2026-05-26
58.73%→56.03%
Annual report (as of 2026-03-31): 59.96%
Kosuke ABE
2025-07-31
58.73%→58.73%
Annual report (as of 2026-03-31): 59.96%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-26
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-07-31
Large Shareholding Report
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-21
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-22
Annual Securities Report
EDINET
2022-02-10
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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