Regal Corporation, a shoe manufacturer listed on the Tokyo Stock Exchange Standard market, announced on 9 February 2026 that it would recruit about 50 voluntary retirees and halt operations at its production subsidiary Chiyoda Shoes in Urayasu, Chiba.
The reason was the market itself. Demand for its main line of leather business shoes kept falling, and the company judged that the current business model could not recover to pre-COVID levels, so it consolidated its production bases.
The results came on 23 March 2026: 47 employees applied for voluntary retirement, all 63 employees of Chiyoda Shoes left as operations stopped — 110 jobs cut across the group — and a special loss of about ¥618 million was booked. Retirement was scheduled for 30 April 2026.
Regal cut 110 jobs and closed its Chiyoda Shoes factory in one move, booking a ¥618M special loss to exit a market that was not coming back.
A shrinking core market: demand for leather business shoes, Regal's main line, kept declining, and the pre-COVID sales level never returned.
Capacity built for the old market: the Chiyoda Shoes factory's output had no buyer at the new demand level, so the whole plant stopped rather than shrink.
One-step restructuring: with no recovery in sight, the company compressed the workforce and the factory in a single move, paying ¥618M to leave the old shape behind.
A brand cannot outlast its customers' dress code: Regal's leather business shoes lost demand year after year, and when pre-COVID sales never returned, the factory and 110 jobs went in one cut.
Regal Corporation announced on 9 February 2026 that it would recruit about 50 voluntary retirees and halt operations at its production subsidiary Chiyoda Shoes in Urayasu, Chiba. On 23 March 2026 it announced the results: 47 employees applied for voluntary retirement, all 63 employees of Chiyoda Shoes left — 110 jobs cut across the group — and a special loss of about ¥618 million was booked. Demand for its main line of leather business shoes kept falling and the current business model could not recover to pre-COVID levels, so it consolidated its production bases.
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