ENVALITH
株式会社テンポスホールディングス logo

TENPOS HOLDINGS Co.,Ltd.

2751・Standard Market・Wholesale Trade

Official website
株式会社テンポスホールディングス logo
TENPOS HOLDINGS Co.,Ltd.2751

Business

Tempos Holdings Co., Ltd. was founded in 1997 as a specialized recycled kitchen equipment sales and reselling company, and transitioned to a holding company structure in 2017. It currently has 12 consolidated subsidiaries and consists of three segments: (1) sales of new and used kitchen equipment for restaurants (Merchandise Sales business), (2) restaurant management support services such as real estate brokerage, financing, staffing, and DX solutions (Information and Services business), and (3) operation of directly managed restaurants including steak houses, sushi restaurants, and delivery sushi services (Restaurant business). Its main customers are owners and operators of small and micro restaurant businesses. Under its management policy of "raising the five-year survival rate of restaurants to 90%," the company aims to evolve into a comprehensive support enterprise for the food service industry under the "Dr. Tempos" concept. Consolidated net sales for FY2025 (ended April 2025) were ¥47,055 million.

Business Model

In the merchandise sales business, Tempos Bathers, with 75 stores nationwide (including franchises), buys, refurbishes, and sells used kitchen equipment, combining high-margin used items with new products for sale. Through 3D drawing utilization and consulting sales for new store openings, the company achieved a customer unit price of ¥337,000 (up 18.6% year on year). In the information and services business, the company generates additional revenue through peripheral services such as real estate brokerage, finance, and recruitment placement. In the food service business, the structure involves directly operating store brands acquired through M&A while pursuing synergies across the group as a whole.

Company Strengths

Operates a network of 75 Tenpos Busters stores nationwide (including franchises) and 12 Tenpos Recycling Centers. The number of units purchased is expanding, up 120% year on year. The integrated system covering purchase, repair, refurbishment, and sale of used goods serves as a differentiating factor from competitors, with high-margin used equipment sales underpinning the earnings base.

As a trial, the company opened stores in small regional cities with populations of around 100,000 (such as Yonago City in Tottori Prefecture and Omihachiman City in Shiga Prefecture), and every store achieved monthly profitability in the month following its opening. Based on this track record, the company has established a store-opening standard of "one store per 100,000 population," which supports the feasibility of its strategy to expand to a 300-store network.

Starting with the acquisition of Asakuma as a subsidiary in 2011, the company has continued to execute M&A, including Kitchen Techno (2014), Yamato Sakana (2023), and Sunrise Service (completed July 2025). This also includes a 21% equity stake in Marche Corporation (completed June 2025), reflecting a track record of gradually expanding its business scope within the restaurant industry.

ENVALITH's Perspective

For FY2026 (ending April 2026), segment operating income in the food service business expanded sharply to ¥789 million (up 127.3% year on year), driving increases in both revenue and profit for the group as a whole. Meanwhile, the information and services business fell into a segment operating loss of ¥101 million, with four of the five subsidiaries under it posting losses or substantial profit declines. Both external factors—such as a lower pass rate for IT introduction subsidies—and internal factors, including increased upfront investment costs in the staffing placement business, are overlapping, making the timing of profitability recovery in this segment a key point of attention for investment decisions.

For FY2026 (ending April 2026), profit attributable to owners of parent was ¥1,894 million (down 8.3% year on year), the only line item to decline even as revenue, operating income, and ordinary income all increased. The main cause was a sharp rise in total income taxes, from ¥458 million in the prior period to ¥1,150 million (with deferred income taxes reversing from -¥502 million in the prior period to ¥145 million in the current period), reflecting the impact of a reduction in deferred tax assets on the quality of earnings. Earnings per share also declined from ¥171.85 to ¥157.22, and ROE (return on equity) fell from 14.0% to 11.3%, both of which warrant attention.

The company's forecast for FY2027 (ending April 2027) calls for revenue of ¥61,480 million (up 15.1% year on year) and operating income of ¥4,180 million (up 44.6%), a substantial increase in profit. This is expected to be supported by the contribution of newly consolidated Meiwa Seisakusho and Marche, but with multiple M&A transactions carried out in a short period, increased amortization burden from goodwill (period-end balance of ¥1,980 million) and the time and cost required to integrate and monetize acquired companies are variables affecting the achievement of the forecast. Regarding the market environment for the food service industry, while the recovery in inbound demand is a tailwind, persistently high raw material, labor, and logistics costs continue to squeeze the restaurant operations of key customers, and attention should be paid to this dual nature of the demand environment for the group as a whole.

Growth Strategy

Aiming to become a ¥200 billion-revenue company through a 300-store retail network, multi-store restaurant expansion, in-house manufacturing, and active M&A

In FY2026 (ending April 2026), the company opened 6 stores in total (4 new openings and 2 relocations), falling short of the 12-store target. Enhanced 3D drawing proposals lifted average spend per new-store opening customer from ¥552,000 in the previous fiscal year to ¥595,000. Toward the ¥1 million target, the company continues proposal skill training and AI utilization training, and is also considering overseas store openings.

Backed by 38 consecutive months of year-on-year existing-store sales growth, Asakuma plans to open 10 or more stores annually, targeting sales of ¥20 billion in 3 years. Yamato Sakana aims to expand from its current 41 stores to a 100-store network in 5 years, accelerating its store-opening pace more than fivefold. Sunrise Service is promoting a shift to a three-pillar structure of delivery, catering, and dine-in.

Effective May 20, 2026, the company made Meiwa Seisakusho, a manufacturer of kitchen equipment and metal products, a wholly owned subsidiary via a share exchange (acquisition cost of ¥208 million). The move aims to strengthen earnings power through expanded private-brand products and accelerated product development and cross-selling enabled by manufacturing-sales integration. The amount of goodwill has not yet been finalized.

The company will subscribe to a third-party allotment of shares (additional acquisition consideration of ¥996 million) in Marche (an izakaya chain), currently an equity-method affiliate in which it holds a 21.02% voting interest, and plans to acquire a 50.59% voting interest to make it a consolidated subsidiary (scheduled for June 29, 2026). This is expected to strengthen purchasing power and generate group synergies (leveraging Echigo Tsukemen and Yamato Sakana know-how).

D-Park is expanding its overseas human resources placement business into Myanmar and Mongolia, aiming to make it a second pillar of earnings, but recorded an operating loss of ¥33 million in FY2026 (ending April 2026) due to upfront investment. Tempos Joho-kan is working to reduce dependence on IT subsidies and capture latent DX demand. Achieving profitability for the segment as a whole is the next key milestone.

The corporate-only site, launched in May 2025, had 9,103 member companies at fiscal year-end and is acquiring approximately 200 new members per month. The uptake rate for delivery and installation services also rose from 9.0% to 16.9%. The company is moving into full-scale expansion into institutional markets such as school meal services, elderly care, and government agencies, as well as overseas e-commerce, aiming to shift from a cost-reduction-driven phase to a sales-driven profit-generation phase.

Last updated: July 17, 2026