This comprehensive analysis examines the transformative role of Private Equity (PE) funds within Japan's evolving retail, supermarket, and food contract manufacturing industries as of July 2025. It illustrates how these funds acquire stakes in unlisted companies, providing hands-on support like strategic guidance, digital transformation (DX) initiatives, and M&A assistance, ultimately aiming to enhance corporate value for eventual sale or IPO. The document features detailed case studies of major industry players such as York Holdings (Ito-Yokado), Seiyu, and Sogo & Seibu, highlighting large-scale reorganizations and carve-outs from major conglomerates. Furthermore, it explores how PE funds facilitate business succession and growth for mid-sized companies like Hiiragi Holdings, Kabaya Foods, Q'SAI, LB Co., Ltd., Bussan Food Science, and Nitto Sweets, demonstrating their diverse impact across the sector. Each case study explains the company's profile, the PE fund's involvement, the strategies implemented, and the current outlook, underscoring PE's crucial contribution to the revitalization and future direction of Japanese businesses.