OOTOYA Holdings Co., Ltd.
2705・Standard Market・Retail Trade
Business
Ootoya Holdings Co., Ltd. is a holding company that operates set-meal (teishoku) and bento restaurant businesses domestically and overseas, both through directly managed stores and franchises, under the "Ootoya Gohandokoro" brand. Domestically, the company operates a total of 320 stores, comprising 156 directly managed stores and 164 franchise stores, while overseas it operates a total of 141 stores (9 directly managed, 132 franchise) across six Asian countries, the United States, and Hong Kong. Its core business model centers on teishoku restaurants committed to "freshly made" meals, with all menu items cooked in-store, targeting health-conscious general consumers as its primary customer base. The company came under the umbrella of the Colowide Group in 2020 and is pursuing growth by leveraging group synergies such as joint procurement.
Business Model
Revenue mainly consists of dining sales at directly operated stores in Japan (approximately 62% of net sales) and supply income from royalties, ingredients, and consumables equivalent to 5% of monthly sales from domestic and overseas franchisee stores. The franchise business is asset-efficient, with the domestic franchise segment margin at approximately 17%, significantly exceeding that of directly operated stores (approximately 4%). The structure aims to expand sales scale through store openings and higher average customer spending, while controlling costs through joint procurement with the Colowide Group.
Company Strengths
The domestic franchise business recorded net sales of ¥10,128 million and segment profit of ¥1,718 million (profit margin of approximately 17%). With segment assets of ¥1,244 million, the business achieves high profitability with an asset-light model. The company is also promoting conversion from directly-operated stores to franchise stores (3 stores converted in FY2026), driving capital-efficient store network expansion.
Since coming under the umbrella of the Colowide Group in 2020, the company has implemented joint procurement and merchandise optimization with the Group. In FY2026 (ending March 2026), total procurement of ingredients and other materials amounted to ¥16,428 million (up 25.2% year on year), increasing in line with business expansion. Despite this, the company maintained its gross profit margin through optimization of product mix and achieved operating profit of ¥2,140 million (up 28.8% year on year).
The overseas franchise business operates 132 stores across 6 Asian countries, including 53 stores in Taiwan, 60 stores in Thailand, and 16 stores in Indonesia. In FY2026 (ending March 2026), the company made its first entries into Cambodia and the Philippines, expanding its geographic footprint. "Matsui" in the United States has received a Michelin star for 10 consecutive years, contributing to the enhanced credibility and recognition of the "Ootoya" brand overseas.
ENVALITH's Perspective
Performance Trend
Revenue expanded roughly twofold over four years, from ¥18,834 million in FY2022 to ¥37,016 million in FY2026, with the FY2026 year-on-year growth rate of 17.9% marking the highest among the past five fiscal years. Operating profit also renewed its historical high at ¥2,140 million (up 28.8% year on year), and the operating margin improved to 5.8% (from 5.3% in the prior period). However, profit attributable to owners of parent stood at just ¥1,233 million (up 0.7% year on year), weighed down by ¥343 million in income tax adjustments (including the reversal of deferred tax assets). Amid continued increases in food ingredient costs and labor costs as external factors, higher average customer spending and store expansion drove the revenue growth. The FY2027 forecast projects revenue of ¥38,000 million and net profit of ¥1,399 million, anticipating a return to profit growth.
Growth Strategy
Advancing the medium-term management plan along three axes: improvement of existing business, store openings in priority locations, and overseas expansion.
Improved average customer spend and customer traffic through grand menu renewal, seasonal/limited-quantity menus, and IP collaboration campaigns. Strengthened repeat visits through the introduction of the official app "Otoya POINT+". Domestic directly-operated business net sales reached ¥22,916 million (up 20.2% year on year), with segment profit of ¥987 million (up 62.0% year on year), representing significant improvement.
Concentrated directly-operated store openings in priority locations, focusing on station-front commercial areas and roadside locations in the "Kanto + Kansai" region. In FY2026 (ending March 2026), 10 of the 13 directly-operated stores opened were placed in priority locations. The number of operating domestic directly-operated stores expanded to 152 "Otoya Gohandokoro" stores and 4 other stores.
Achieved initial franchise store openings in Cambodia and the Philippines, countries previously without stores, expanding the number of operating overseas franchise stores to 132 (across 6 countries). Overseas franchise net sales improved to ¥344 million (up 11.7% year on year), with segment profit of ¥115 million (up 13.1% year on year). Meanwhile, overseas directly-operated business saw its segment loss widen to ¥69 million, making structural improvement a challenge.
Continued the shift toward the asset-efficient franchise business, including converting 3 domestic directly-operated stores to franchises. The domestic franchise business maintained high profitability, with segment profit of ¥1,718 million (up 14.6% year on year) and a profit margin of approximately 17%. The policy for FY2027 (ending March 2027) is to continue promoting both directly-operated store openings in priority locations and franchise support in parallel.
Last updated: July 19, 2026