同社のM&Aは実績と成長可能性を重視し、基本方針として、目的はグループの強化と地域企業の存続、対象企業は成長可能性がある後継者不在の中小企業で、売却を前提としない長期保有を掲げている。またM&A対象企業の特徴としては、特定の地域で実業を営んでいること、許認可事業であること、公共事業関連の元請企業であること、従業員や技術に関するリソースを持っていること、健全な経営を行っている企業であることを挙げている。今後のM&Aについては、既存の4事業領域に加えて、新たな事業領域への展開も推進する方針だ。Meiho Holdings' growth strategy
1. Growth strategy 'three-stage rocket propulsion method'
Although the company has not disclosed a medium-term management plan, it aims for growth through the 'three-stage rocket propulsion method,' consisting of (1) growth of existing businesses, (2) growth through new M&A within existing segments, and (3) growth through M&A outside existing segments. President Goki Omatsu believes that establishing several group companies in each prefecture nationwide will make it possible to achieve 100 companies, consolidated revenue of 100 billion yen, and 10,000 employees in the medium to long term. By June 2024, they have achieved the targeted consolidated revenue of 10 billion yen to strengthen the growth platform. They consider the current phase as a foundation-building period towards the next goal of 30 billion yen in consolidated revenue, focusing on the organic growth of existing group companies and enhancing the internal management system of the holding company. They express the intention to steadily pursue fundamental strategies such as further enhancing the corporate support platform, increasing the revenue and profit of individual companies, expanding the overall group's financial strength, and expanding the network through capital partnerships, in order to achieve the medium to long-term goal of 100 billion yen in consolidated revenue.
The company's M&A strategy focuses on track record and growth potential, with the basic policy of strengthening the group and ensuring the continuity of regional companies. They target small and medium-sized enterprises with growth potential and no successors, advocating for long-term shareholding without the premise of selling. The identified characteristics of the target companies for M&A include operating business in specific regions, being involved in licensed business, being principal companies in public works projects, possessing resources related to employees and technology, and maintaining sound management. Regarding future M&A activities, they plan to expand into new business areas in addition to the existing four business domains.
(Authored by FISCO guest analyst Masanobu Mizuta)
