Choushimaru Co.,Ltd.

Business Details

The company's only segment. It differentiates itself from low-price conveyor-belt sushi chains by offering high-quality items—sushi hand-formed by skilled craftsmen, hon-maguro (bluefin tuna), and hikarimono (silver-skinned fish)—at prices more attractive than market rates, operating the gourmet conveyor-belt sushi format "Sushi Choushimaru" exclusively through directly-operated stores across multiple locations. As of the end of the first quarter of FY2027 (ending February 2027) (May 31, 2026), the company operated 93 stores. Both revenue and profit are consistent with the company's overall results due to this single-segment structure.

Recent Overview

In the first quarter of FY2027 (ending February 2027), revenue rose 10.8% and operating profit rose 47.1%, reflecting a substantial increase in profit

For the cumulative first quarter of FY2027 (ending February 2027) (March 1, 2026 to May 31, 2026), revenue was ¥6,338 million (up 10.8% year on year), operating profit was ¥787 million (up 47.1% year on year), and quarterly net profit was ¥507 million (up 95.6% year on year), representing a substantial increase in profit. The absence of the ¥142 million impairment loss recorded in the same period of the prior year also contributed significantly to the sharp increase in net profit. In May 2026, a new store opened at Park City Nakano, while the reservation-only premium sushi restaurant "Sushimoto" was closed, bringing the total number of stores at period-end to 93. The full-year earnings forecast remains unchanged from the figures announced on April 13, 2026 (revenue of ¥24,122 million, operating profit of ¥1,203 million).

Key Products

Growth Drivers

• Refining the five differentiating elements—craftsman-formed sushi, hon-maguro (bluefin tuna), hikarimono (silver-skinned fish), discerning ingredient selection, and a stage for hospitality—and developing appealing products
• Developing direct seafood procurement routes, developing products using Chiba Prefecture-sourced ingredients and private-brand processed goods, and attracting customers through region-specific events and anniversary festivals
• Revenue expansion through new store openings (Park City Nakano store, opened May 2026)
• Promoting digital transformation and strengthening customer acquisition through the addition of a visit-stamp function and takeout reservation/ordering function to the "En App"
• Securing personnel and improving product quality through strengthened new graduate and mid-career hiring, along with skills training and craftsman skill improvement contests
• Accelerating overseas expansion through the opening of a second store by the U.S. joint venture SUSHI-TEN USA Inc. (March 2026)

Risks

• Rising cost of sales due to surging raw material and energy prices (making cost ratio management more difficult)
• Increased selling, general and administrative expenses due to labor shortages and rising personnel costs
• Heightened consumer frugality due to price inflation and its impact on customer visit numbers
• Rising procurement costs due to sustained high resource prices amid tensions in the Middle East and the continuation of a weak yen trend
• Potential risk of impairment losses on fixed assets at unprofitable stores (¥142 million was recorded in the same period of the prior year)
• Risk of expanding operating costs and equity-method investment losses at the U.S. joint venture (SUSHI-TEN USA Inc.)
• Risk of declining profitability in the second half, given that the full-year earnings forecast plans for a substantial 23.6% year-on-year decline in operating profit