Orion Beer Applies for Listing on Tokyo Stock Exchange
Headquartered in Tomigusuku City, Okinawa Prefecture, Orion Beer has announced its application for listing on the Tokyo Stock Exchange, with the earliest possible listing date being September of this year. If successful, Orion will become the first manufacturing company from Okinawa to enter the Tokyo Stock Exchange. Prior to the IPO, Orion streamlined its operations, selling a city hotel in Naha and focusing on a resort near the newly built Jangalia Okinawa theme park, where it holds exclusive rights for alcohol sales.
The IPO is being led by Nomura Securities, SMBC Nikko Securities, and Mizuho Securities as the main underwriters. According to informed sources, the company plans to accelerate its expansion in the domestic Japanese market and actively extend its overseas presence post-listing. Orion has seen significant operational growth in recent years, with sales reaching 27.8 billion yen in fiscal year 2024, a year-on-year increase of 12%, and operating profit of 3.2 billion yen, a growth of 3%, driven by the overall surge in Japan’s tourism sector.
In anticipation of market scrutiny post-IPO, Orion has also adjusted its operational structure, which includes managing IP licensing, developing co-branded merchandise, selling city hotels in Naha, focusing on resort facilities in Tomigusuku Village, and acquiring exclusive rights for alcohol sales. These arrangements indicate that the company is steadily progressing towards brand diversification and corporate expansion.
Orion Now Belongs to Carlyle Group and Nomura Holdings
Founded in 1957, Orion Beer is the most representative local brand in Okinawa. The company was acquired by the Carlyle Group and Nomura Holdings in 2019. In recent years, it has also focused on the tourism industry, including investments in the newly opened theme park Jangalia in Tomigusuku Village.
Beyond its core beer business, Orion is actively developing IP licensing as a new revenue pillar. In fiscal year 2019, the licensing business generated total sales of 1 billion yen, but in fiscal years 2020 and 2021, it was affected by the COVID-19 pandemic, causing sales to drop to 300 million yen. Since taking office in December 2021, President Hajime Murano has recognized the high visibility of the Orion Beer logo in the tourism industry and decided to expand the IP licensing business. In July 2023, he appointed Toshisaku Aratani, who has experience in IP licensing, as the head of the licensing department to leverage the charm of the Orion brand to elevate business performance.
Due to the popularity of Orion, the company is also actively combating counterfeits while collaborating with professional sports teams and fashion brands to further expand its brand influence. Recent clothing and merchandise launched have received enthusiastic responses from Okinawa tourists, reinforcing its position as a representative regional brand.
For fiscal year 2024, the sales of the licensing business are expected to be approximately 3 billion yen, a year-on-year increase of 1.5 times; as of July, sales performance reached 2.4 times that of the same period last year, with the company estimating that fiscal year 2025 will exceed 6 billion yen, accounting for nearly 10% of total revenue.
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