KICHIRI HOLDINGS & Co.,Ltd.
3082・Standard Market・Retail Trade
Business
KICHIRI Holdings Co., Ltd. originates from a food service company founded in 1998 and transitioned to a holding company structure in 2019. In its restaurant business, the company operates over 136 stores nationwide (as of end-June 2025) across diverse formats including "Casual Dining KICHIRI," "Ishigamaya Hamburg," and "VEGEGO," consistently avoiding low-price competition in favor of providing added value through high quality and hospitality (omotenashi). In its DX consulting business, the company leverages the platform cultivated through restaurant operations to develop diversified services, including collaborations with brand holders, platform sharing for small and medium-sized restaurant operators, furusato nozei (hometown tax donation) outsourcing services (regional revitalization), and provision of video interview systems "ApplyNow" and "Interview Cloud." Its main customers are domestic restaurant consumers and corporate clients related to the restaurant industry and local governments.
Business Model
The food and beverage business, accounting for approximately 97% of net sales, generates its primary revenue through dining services provided at directly-operated stores centered on mall and suburban locations. Franchise fees and royalties from the franchise business (Ishigamaya Hamburg) add to this. The DX consulting business (approximately 3.6% of net sales) provides restaurant operation know-how to corporate clients through consulting, platform sharing, and furusato nozei (hometown tax donation) outsourcing, functioning as a highly profitable complementary business achieving a high operating margin (approximately 20.8% in FY2025 (ended June 2025)).
Company Strengths
Owns over 20 business formats including KICHIRI, Ishigamaya Hamburg, VEGEGO, and Shin Nihon Yoshiki, catering to diverse locations such as malls, suburban areas, and urban settings. As of the end of June 2025, the company operates more than 136 stores nationwide. It positions its ability to develop formats that accurately capture trends as the core of its competitive advantage.
Revenue expanded approximately 2.7-fold from ¥5,616 million in FY2021 (ended June 2021) to ¥15,057 million in FY2025 (ended June 2025). Operating profit turned positive, moving from ¥-1,371 million in FY2021 (ended June 2021) to ¥785 million in FY2024 (ended June 2024), and remained in the black at ¥582 million in FY2025 (ended June 2025). ROE recorded 16.7% in FY2025 (ended June 2025).
The DX Consulting business achieved revenue of ¥548 million (up 24.4% year on year) and operating profit of ¥114 million (operating margin of approximately 20.8%) in FY2025 (ended June 2025). In the first half of FY2026 (ending June 2026), the business continued its high growth and high profitability, with revenue of ¥382 million (up 19.6% year on year) and operating profit of ¥185 million (up 24.5% year on year).
ENVALITH's Perspective
Performance Trend
Revenue expanded roughly 2.7x from ¥5,616 million in FY2021 to ¥15,057 million in FY2025, maintaining a growth trend with cumulative revenue of ¥12,617 million (up 11.7% year on year) for the first nine months of FY2026 (ending June 2026). On the other hand, operating profit, which peaked at ¥785 million in FY2024, declined to ¥582 million in FY2025, and cumulative operating profit for the first nine months of FY2026 (ending June 2026) also fell below the prior-year level at ¥522 million (down 3.3% year on year). External factors such as soaring food ingredient and energy costs, along with rising personnel expenses due to labor shortages, have squeezed profits. Extraordinary losses, including a ¥35 million valuation loss on investment securities and a ¥2 million loss on disposal of fixed assets, also weighed down net profit. Achieving the full-year forecast (operating profit of ¥750 million, up 28.9% year on year) will require a concentration of profit in the fourth quarter.
Growth Strategy
A dual-axis growth strategy combining nationwide expansion of multiple restaurant formats with high growth in the DX consulting business
Tangible fixed assets increased by ¥354 million compared to the end of the previous fiscal year, reflecting continued investment in new store openings. The company is accelerating nationwide expansion centered on mall and suburban-type formats to grow Food & Beverage segment sales. Cumulative Food & Beverage segment sales for the first nine months of FY2026 (ending June 2026) reached ¥12,109 million (up 11.1% year on year).
The DX consulting business, which includes the regional revitalization business (such as furusato nozei/hometown tax donation processing outsourcing) launched in April 2023, continued to post high growth, with cumulative sales of ¥508 million (up 28.2% year on year) and operating profit of ¥202 million (up 46.7%) for the first nine months of FY2026 (ending June 2026). Expansion of collaborations with brand holders and the spread of platform sharing are driving growth.
Amid rising ingredient costs, labor costs, and energy costs, selling, general and administrative expenses are increasing at a pace exceeding sales growth. Strengthening cost management is an essential challenge toward achieving the full-year operating profit target of ¥750 million (up 28.9% year on year).
Last updated: July 17, 2026