TOKYO ICHIBAN FOODS CO.,LTD.
3067・Standard Market・Retail Trade
Food & Beverage Business
Core business accounting for approximately 89% of Group revenue. Vertically integrated restaurant operations centered on seafood SCM.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Revenue (H1 cumulative) | ¥3,566 million | ¥3,676 million (same period prior year) | ↓ |
| Segment Profit (H1 cumulative) | ¥299 million | ¥320 million (same period prior year) | ↓ |
| Segment Profit Margin (H1 cumulative) | 8.4% | 8.7% (same period prior year) | ↓ |
| Segment Revenue (full year, prior year actual) | ¥6,534 million | ― | — |
| Segment Profit (full year, prior year actual) | ¥237 million | ― | — |
Business Details
Operates "Oyogi Torafugu Ryori Senmonten Torafugu-tei" (a specialty restaurant featuring live torafugu (blowfish) dishes), "Sushi Tsune," "WOKUNI (USA)" and other brands through both directly-operated and franchise stores. Direct procurement of in-house farmed ingredients (torafugu and honmaguro/bluefin tuna) from the subsidiary Nagasaki Farm Co., Ltd. achieves stable procurement costs and high-quality food offerings. The company continues to promote improvements in the labor cost ratio and cost ratio through store operation improvements and optimal staffing structures. In May 2026, the second store in the US will also open.
Recent Overview
Revenue decreased 3.0% year on year, but the profit margin was maintained at a similar level due to store operation improvements.
In the Food & Beverage Business for the second quarter (first half) of FY2026 (ending March 2026), revenue was ¥3,566 million (down 3.0% year on year) and segment profit was ¥299 million (down 6.6% year on year). Although revenue continued to decline, profit was supported by stabilized procurement costs through collaboration with Nagasaki Farm Co., Ltd. and improvements in the labor cost ratio and cost ratio through store operation improvements and optimal staffing structures. In May 2026, the second US store opened, expanding overseas operations.
Key Products
Growth Drivers
- Stable procurement and reduced procurement costs of in-house farmed ingredients (torafugu and honmaguro/bluefin tuna) through vertical integration with Nagasaki Farm Co., Ltd.
- Improved profitability through the ongoing elimination of unprofitable stores (mainly under the Sushi Tsune brand)
- Improvement in the labor cost ratio and cost ratio through store operation improvements and optimal staffing structures
- Continued contribution to consolidated profit from overseas markets (WOKUNI) and revenue expansion from the opening of the second US store
- Enhanced customer satisfaction through traceability and food safety appeals enabled by seafood SCM
Risks
- Continued downward pressure on revenue due to the ongoing closure/withdrawal of domestic stores (73 stores in FY ending September 2020 → 63 stores in FY ending September 2025)
- Increased costs for maintaining service levels due to the worsening labor shortage
- Adverse impact on the WOKUNI business from rising wages and prices in the US and uncertainty over tax reform
- Risk of periodic large fluctuations in the market price of premium domestic torafugu (in-house farming provides a hedge but cannot fully eliminate this risk)
- Increase in fixed costs and depreciation expenses accompanying the significant increase in Food & Beverage Business segment assets
Last updated: December 25, 2025