Valor

What Valor does

Valor Holdings Co., Ltd. (株式会社バローホールディングス) is a Japanese publicly listed retail conglomerate (TSE Prime / Nagoya Premier, ticker 9956) headquartered in Tajimi, Gifu Prefecture, and registered in Ena, Gifu. Founded in 1958 as Shufu no Mise and reorganized into a holding company in 2015, the group operates 1,557 stores across seven retail formats — supermarkets (366), drugstores / V-drug (581), home centers (165), sports clubs / AXTOS (157), pet shops (197), delicatessen and prepared-food specialty stores (80), and others (10) — with a regional concentration in Chubu/Tokai and active expansion into Kansai and Kanto. Under the medium-term CONNECT 2030 plan, it targets 1 trillion yen+ revenue by FY2029. The group employs approximately 31,578 staff (10,537 full-time plus 21,041 part-time) and comprises 62 consolidated subsidiaries.

The group runs a vertically integrated manufacturing-retail (SPA) model that spans agricultural production, food manufacturing (Chubu Foods and related entities), in-house private-brand development (188 PB SKUs each above 100 million yen in annual sales under the Vsele brand), logistics (Chubu Kousan), materials procurement (Chubu Ryutu), and last-mile retail through wholly owned subsidiaries. Proprietary technology includes the Lu Vit credit card and app loyalty platform integrated with JCB PREMO, the ainoma net supermarket operated in partnership with Amazon, and DX-based inventory management with automated ordering linked to shelf allocation data. E-commerce, mobile sales vehicles, and specialty prepared-food formats (Delica Kitchen, Nigiri-tate) supplement the physical store footprint.

Revenue is generated primarily through one-time B2C retail sales across formats, supplemented by subscription/membership revenue from sports clubs (AXTOS) and financial interchange and fee revenue from the Lu Vit card platform. The customer base is fragmented across general Japanese consumers in suburban and urban markets; secondary B2B customers source PB products, packaging, and logistics services through group subsidiaries. Pricing is set at store level with no public rate card, while corporate and partnership pricing (Kohnan Shoji alliance, Arcs/Retail Partners, 22+ municipal partnerships) reflects strategic procurement and community-welfare frameworks rather than commercial customer concentration.

Name

Valor

Legal name

株式会社バローホールディングス

Website

https://valorholdings.co.jp

Company type

Public

Founded year

1958

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Valor Holdings is a publicly listed Japanese multi-format retail conglomerate operating 1,557 stores across supermarkets, drugstores, home centers, sports clubs, pet shops, and delicatessen, with vertically integrated food manufacturing, logistics, and a proprietary Lu Vit loyalty card serving individual consumers in Central Japan.

Ownership category

akta.pro rank

Headquarters

HQ city

Ena

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Supermarket Retail Sales: Core revenue from food supermarket operations under the Valor, Tachiya, Taiyo, Kyoseiya, Futabaya, Sanko, Terao, Yasasen, Yamata, and Domy brands. Sells fresh foods, daily necessities, and prepared foods across 249 directly operated supermarkets plus subsidiaries.
2. Operating Revenue: FY2026 (ended March 2026) operating revenue of approximately 9,241 billion yen (924,114 hundred million yen), representing consolidated group revenue from all business segments including supermarket, drugstore, home center, sports club, pet shop, and logistics operations.
3. Drugstore Operations (V-drug): 581 drugstore locations selling pharmaceuticals, health supplements, cosmetics, and daily necessities, including prescription dispensing pharmacy services, operated under the V-drug brand across 10 prefectures.
4. Home Center and Pet Shop Operations: 165 home center stores and 197 pet shop locations operated under brands including Home Center Valor, Daiyu8, Time, Nisshiki, and pet shop chains (Inu no Ie, Amigo, Pet Forest, Joker).
5. Sports Club Operations: 157 sports club facilities operated by AXTOS, offering swimming schools, tennis schools, fitness clubs, and wellness programs under the AXTOS brand across Hokkaido, Tohoku, Kanto, Hokuriku, Tokai, Kinki, Chugoku, Shikoku, and Kyushu regions.
6. Food Manufacturing and Processing: Chubu Foods and related subsidiaries produce prepared foods, noodles, tofu, and processed meat products for in-store sale and external distribution, supporting the manufacturing retail model.
7. Logistics and Distribution Services: Chubu Kousan operates logistics centers and transportation, providing integrated logistics infrastructure for the group, while Chubu Ryutu handles material procurement and packaging.
8. Credit Card and Financial Services: Valor Financial Service issues Lu Vit credit cards, providing payment and financial services to customers, generating interchange and fee revenue, and reducing external payment processing costs.

Go-to-market motion2 records

Distribution channels9 records

Marketing channels6 records

Core offering

Valor Holdings operates a vertically integrated multi-format retail group in Japan, operating 1,557 stores across supermarkets, drugstores (V-drug), home centers, sports clubs (AXTOS), pet shops, and delicatessen specialty outlets. The group follows a Manufacturing Retail (SPA) model spanning food production, in-house manufacturing of 188 private-brand products, group logistics, and retail sales, supplemented by the Lu Vit proprietary credit card/loyalty program and the ainoma online grocery delivery service in partnership with Amazon.

Product overview

巴洛集团是以超级市场为核心的多元化零售集团，采用制造零售业(SPA)的商业模式。集团通过巴洛(超级市场)、Vdrug(药店)、ホームセンターバロー(家居中心)、AXTOS(运动俱乐部)、宠物店(アミーゴ、犬之家等)等多种业态，以及中部Foods(熟食制造)、中部物流(物流)、中部流通(物资销售)等制造・流通相关子公司，构建了从生产到物流再到销售的垂直整合体系。核心产品和服务包括：Lu Vit Card & App(金融支付)、ainoma(网络超市)、Delica Kitchen/にぎりたて(熟食专门店)、Vsele(PB商品)等，通过1,557家门店网络(截至2026年6月)向消费者提供食品、日用品、医药品、运动健身、宠物等综合性生活服务。

Differentiator

Problem solved

Functional benefit

Brands

• Lu Vit: Proprietary prepaid credit card and loyalty program offered by Valor Financial Service Co., Ltd.
• ainoma
• V・drug (Vドラッグ)
• Delica Kitchen
• AXTOS
• PROsite

Products and services

• Valor Supermarket Operations (Supermarket Valor, Tachiya, Shokusenkan Taiyo, Kyoseiya, Futabaya, Sanko, Terao, Yasasen, Yamata, Domy) Core supermarket business offering fresh foods, daily necessities, and prepared foods across 366 directly operated supermarkets and subsidiaries in Gifu, Aichi, and surrounding prefectures.
• V-drug Drugstore Chain (V・drug) Drugstore and dispensing pharmacy chain offering pharmaceuticals, health supplements, cosmetics, daily necessities, and prescription dispensing pharmacy services across 581 locations in 10 prefectures.
• Home Center Valor (including Daiyu8, Time, Nisshiki, PROsite brands) Home center retail offering daily goods, furniture, building materials, gardening, DIY products, and agricultural supplies for professional needs across 165 stores in Aichi, Gifu, and Mie prefectures, with PROsite as a sub-brand.
• AXTOS Sports Club Facilities Sports club facilities offering swimming schools, tennis schools, fitness clubs, and wellness programs including self-defense and health-combination instruction and nursing care prevention instruction, across 157 facilities in Hokkaido, Tohoku, Kanto, Hokuriku, Tokai, Kinki, Chugoku, Shikoku, and Kyushu regions.
• Pet Shop Chain Operations (Inu no Ie, Amigo, Pet Forest, Joker)

Quantifiable outcome

• FY2026 revenue: 924.1 billion yen (+8.2% YoY); operating profit: 27.58 billion yen (+18.9% YoY); net profit: 16.48 billion yen (+20.7% YoY)
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Kohnan Shoji Co., Ltd. (コーナン商事株式会社)coreStrategic or Co-development Partner · 1 June 2026Capital and business alliance agreement signed February 2026, with full execution agreement announced June 2026. Both companies are listed retailers in Japan's home improvement and general merchandise sector, exploring synergies in procurement, private brand development, logistics, and store operations in the Kansai and Kanto regions.
• Various Municipalities (22+ local governments)coreOthers · 1 June 2026Comprehensive partnership agreements with 22+ municipalities in Gifu, Aichi, and neighboring prefectures covering community welfare, disaster response, health promotion, sustainability, and SDGs initiatives. Includes agreements with Gifu Prefecture, Aichi Prefecture, Nagoya City, Ena City, Tajimi City, Toki City, Nanto City, Mizunami City, Nagoya City, Gifu City, Hashima City, Seki City, Nakatsugawa City, Okazaki City, Kani City, Ichinomiya City, Komaki City, Seto City, Takayama City, Nonoichi City, Minokamo City, Ogaki City, Kakamigahara City, Inazawa City, and Shichiso Town.
• DOMY CO., LTD. (株式会社ドミー)coreStrategic or Co-development Partner · 1 August 2025Valor Holdings conducted a tender offer for DOMY shares, acquiring the company as a consolidated subsidiary. DOMY operates regional supermarkets in the Mikawa area of Aichi Prefecture, strengthening Valor's supermarket presence in the region. The acquisition was completed in August 2025.
• M-aid Inc. (株式会社M-aid)minorStrategic or Co-development Partner · 1 July 2024Capital and business partnership established July 2024 for business improvement and operational enhancement initiatives.

Scale indicators17 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Arcs Co., Ltd. Hokkaido-based supermarket operator and existing capital and business alliance partner of Valor since 2018. Directly comparable for supermarket format operations and shared procurement synergies within the alliance framework.
• Welcia Holdings Co., Ltd. Major Japanese drugstore chain (Aeon group subsidiary) directly competing with V-drug in dispensing pharmacy and OTC/health supplement retail. Comparable for the drugstore format Valor operates and for prescription dispensing pharmacy services.
• Kohnan Shoji Co., Ltd. Japanese home center operator and Valor's capital and business alliance partner since February 2026. Directly comparable for home improvement retail operations competing with Home Center Valor, and now a strategic collaborator on procurement, PB, and Kansai/Kanto expansion.
• Sundrug Co., Ltd. Large Japanese drugstore chain operating nationally with prescription dispensing services. Directly comparable to V-drug's 581-store pharmacy and OTC retail operations across similar Japanese geography.
• Komeri Co., Ltd. Japanese home center chain operating in the Hokuriku and Kanto regions, directly competing with Home Center Valor. Comparable for home improvement retail format and DIY/agricultural supply assortment similar to Home Center Valor.
• Cosmos Pharmaceutical Corporation: Japanese drugstore chain focused on discount pharmacy retail with significant nationwide footprint. Comparable to V-drug for pharmacy retail format and discount-oriented merchandising strategy.
• Izumi Co., Ltd. Regional Japanese supermarket chain with PB development and integrated retail operations. Comparable for supermarket-focused operations, private label strategy, and regional market dominance model similar to Valor's Chubu/Tokai stronghold.

Broad incumbents

• Seven & i Holdings Co., Ltd. Major Japanese retail holding company operating Ito-Yokado supermarkets alongside 7-Eleven convenience stores. Comparable for its integrated supermarket + adjacent retail formats and national footprint, though at substantially larger scale than Valor.
• Aeon Co., Ltd. Japan's largest retail conglomerate with overlapping supermarket (Aeon, MaxValu), drugstore (Welcia), financial services (Aeon Financial), and home center operations. Comparable as a multi-format retail platform serving Japanese consumers with broader scale and deeper capital than Valor.
• Pan Pacific International Holdings Corporation: Japanese discount retailer operating Don Quijote and related multi-format retail concepts. Comparable for multi-format, broad-assortment discount retail positioning and aggressive store network expansion model in Japan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Valor