AMIYAKI TEI CO., LTD.
2753・Prime Market・Retail Trade
Business
Amiyakitei Co., Ltd. was founded in 1995 and is headquartered in Kasugai City, Aichi Prefecture, operating a restaurant chain business. The company runs four segments—Yakiniku (grilled meat) business (164 stores), Yakitori (grilled chicken) business (52 stores), Restaurant business (59 stores), and Other business (13 stores)—all under a company-operated (directly managed) store format. Its base is the Chubu region (Aichi, Gifu, Mie, and Shizuoka), with expansion into the Kanto region (Tokyo, Kanagawa, Saitama, and Chiba) as well. As a "specialist group in meat," the company's core business is built on its strengths in meat appraisal and cutting techniques, offering high-quality meat centered on domestic beef under the concept of "specialty-store taste at chain-store prices." The company is listed on the Prime Market of the Tokyo Stock Exchange and the Premier Market of the Nagoya Stock Exchange.
Business Model
Cost is managed by improving procurement efficiency through whole-carcass purchasing of Wagyu beef, integrated with cut processing by primal section and further processing at the central kitchens in Yamato City, Kanagawa Prefecture (Minami Kanto Food System and Suehiro Food System). By operating all stores as directly managed outlets, the company standardizes quality and service while maximizing sales through a multi-format store strategy tailored to the customer base and location characteristics of each business format. The company also actively utilizes M&A to bring companies under its umbrella, expanding its store network and business formats.
Company Strengths
Established a system to purchase whole Wagyu cattle on a per-head basis, with specialist craftsmen at a central kitchen cutting the meat by part. In FY2025 (ended March 2025), raw material purchases for the yakiniku business reached ¥4,460 million (109.4% year-on-year), and while scaling up, merchandise purchases were kept to 98.8% year-on-year. This achieves differentiation by offering high-quality lean cuts and rare parts at attractive prices.
"Kando no Niku to Kome" (Kando no Niku to Kome), a fast-food format offering "steak for ¥1,000 (tax included) served within one minute," expanded to 45 locations (as of the end of FY2025, ended March 2025). Sales in the restaurant business as a whole reached ¥7,669 million (up 30.8% year-on-year), recording the highest growth rate of all segments and growing to account for approximately 22% of consolidated group sales.
Against total assets of ¥27,810 million at the end of FY2025 (ended March 2025), outstanding borrowings stood at an extremely low ¥675 million. The company held cash and deposits of ¥9,483 million (up 33.0% year-on-year), with total net assets of ¥21,941 million and retained earnings of ¥17,040 million, reflecting a strong equity base. This gives the company the financial capacity to flexibly execute new store openings and M&A using its own funds.
ENVALITH's Perspective
Performance Trend
The company's performance over the past five fiscal years showed a sharp recovery from an operating loss of ¥3,382 million in FY2022 (ending March 2022), reaching a peak operating profit of ¥2,638 million in FY2025 (ending March 2025). In FY2026 (ending March 2026), despite revenue of ¥37,711 million (an increase), operating profit was ¥2,209 million, showing signs of a pause. In Q1 of FY2027 (ending March 2027), the company achieved revenue of ¥9,888 million (up 10.1% year-on-year), operating profit of ¥511 million (up 1.2% year-on-year), and quarterly net income attributable to owners of the parent of ¥308 million (up 13.1% year-on-year), marking increased revenue and profit. As external factors, rising raw material prices, logistics costs, and labor costs have continued, constraining the growth of operating profit relative to the increase in revenue. There is no change to the full-year forecast (revenue of ¥41,100 million, operating profit of ¥2,500 million, net income of ¥1,450 million), and the company aims to return to a pattern of increased revenue and profit compared to the previous fiscal year.
Growth Strategy
Aggressive store openings and Kansai expansion of "Kando no Niku to Kome," together with scale expansion into multiple formats and regions through M&A
"Kando no Niku to Kome" (Impressive Meat and Rice), the Restaurant segment's core format, operated 54 stores as of the end of Q1 FY2027 (ending March 2027). The format has maintained high growth of 18.1% year-on-year, and expansion into the Kansai region is positioned as the next growth phase. The company continues to acquire customers as a low-price, high-quality steak format that leverages the procurement capabilities and processing technology of a "meat specialist group."
Through the new consolidation of Coudession Company and other entities, the group has incorporated formats such as the ramen chain "Takabashi" (11 stores), driving a 75.1% year-on-year surge in sales from other businesses. The group's total store count has expanded to 309, with the multi-format, multi-region scale expansion strategy progressing. Continuous management is required regarding the goodwill balance of ¥2,495 million and the associated increase in amortization burden.
The company aims to improve customer convenience and promote store visits by enhancing coupon distribution and information dissemination functions through the official app, as well as by disseminating product and store information via the official website and various SNS platforms. These group-wide measures are being rolled out across all formats and are contributing to maintaining customer traffic amid an environment of strengthening consumer thrift consciousness.
In Q1 FY2027 (ending March 2027), the company renewed and reopened 4 stores and withdrew from 3 stores. By simultaneously proceeding with the elimination of unprofitable stores and strengthening the competitiveness of existing stores, the company aims to improve the qualitative composition of its store portfolio. Impairment losses shrank to ¥7 million in the current Q1 (compared to ¥22 million in the same period of the previous year), confirming progress in the consolidation of unprofitable stores.
Last updated: July 17, 2026