Eternal Hospitality Group Co.,Ltd.
3193・Prime Market・Retail Trade
Business
Eternal Hospitality Group Co., Ltd. is a restaurant group founded in 1985, centered on its yakitori (grilled chicken skewer) specialty chain "Torikizoku". Together with "Yakitori Taikichi" (477 outlets), the group operates 1,141 domestic outlets (as of the end of FY2025, ending July 2025) and 17 overseas outlets (in the US, South Korea, Shanghai, Taiwan, and Hong Kong). Under its vision of "Global YAKITORI Family", the group aims to spread yakitori culture worldwide. Its main customers are domestic izakaya (Japanese-style pub) patrons, and it also captures inbound demand. The group operates as a single restaurant business segment, pursuing group synergies through a food-material concentration strategy centered on chicken.
Business Model
"Torikizoku" is characterized by uniform pricing across all items, domestically produced chicken, and skewering performed at each store, gaining customer support by offering high quality at low prices. In addition to stable revenue from directly operated stores (408 locations), the company earns royalty income from its philosophy-sharing "Comrade Chain" (253 locations). Yakitori sauce is mass-produced at the company's own factory to ensure consistent quality. The company maintains financial discipline by funding new store openings through operating cash flow and long-term borrowings.
Company Strengths
Sales fell to ¥15,591 million and operating loss reached ¥4,663 million in FY2021, but the company returned to operating profit (¥1,417 million) in FY2023, expanding further to ¥3,248 million in FY2024. In FY2025, operating profit stood at ¥3,121 million, a slight decrease but maintaining a high level, while sales reached ¥46,357 million, roughly three times the FY2021 level.
As of the end of July 2025, the company had built a domestic network of 1,141 stores, comprising 661 "Torikizoku" outlets and 477 "Yakitori Taikichi" outlets. Overseas, the network expanded to 17 stores across 5 regions: the United States, South Korea, Shanghai, Taiwan, and Hong Kong. As of the interim period of FY2025, the group total reached 1,144 stores, with new store openings accelerating through the liberalization of store location areas and an East-West split operating structure.
Unlike typical franchises, the company does not recruit new franchisees; instead, only a limited number of owners who share its management philosophy are certified as "Camrade" (comrade) partners. Through mutual exchange of opinions and proposals, the company achieves uniformity in "taste, quality, and service." As of the end of July 2025, the company maintained 253 Camrade-affiliated stores, reducing the risk of brand value impairment.
ENVALITH's Perspective
Performance Trend
Revenue expanded roughly threefold over five years, from ¥15,591 million in FY2021 to ¥46,357 million in FY2025. In FY2025, operating profit declined to ¥3,121 million (down from ¥3,249 million in the prior period) due to higher costs, but in FY2026 the effects of price revisions became apparent: cumulative nine-month results showed revenue of ¥38,318 million (up 13.3% year on year), operating profit of ¥2,367 million (up 16.9%), and profit attributable to owners of the parent of ¥1,532 million (up 37.2%), with all profit items turning to double-digit growth. Externally, sustained high levels of inbound foreign visitors and steady wage increases have supported robust demand for dining out, while rising costs for raw materials, energy, and labor continue to weigh on earnings. The equity ratio improved to 48.3% (from 45.7% at the previous fiscal year-end), reflecting stronger financial soundness.
Growth Strategy
Deepening the domestic multi-store network and pursuing multi-region, multi-brand expansion toward realizing the "Global YAKITORI Family"
With Eternal Hospitality Japan Co., Ltd. serving as the regional holding company, the group is promoting agile store openings through a two-company structure comprising Torikizoku East Japan and Torikizoku West Japan. As of the end of the third quarter under review, "Torikizoku" had 679 stores (net increase of 18 stores), with the group's total domestic store count expanding to 1,146. Region-based operations are expected to improve store management efficiency and reduce store opening costs.
Following the price revision implemented in May 2025, existing stores achieved a 4.9% increase in customer traffic, a 4.0% increase in average spend per customer, and a 9.1% increase in sales. Price pass-through was achieved successfully without a significant decline in customer traffic, realizing both a response to intermittent cost increases and improved profitability. The scope for further revisions going forward will determine the sustained improvement of profit margins.
In April 2026, "Yakitori Taikichi" opened its first Southeast Asian store in Vietnam. Expansion into the Philippines and Singapore has also begun. In the United States, an intermediate holding company, ETERNAL HOSPITALITY USA INC. (planned investment amount of approximately ¥1,117 million), is scheduled to be established in July 2026, consolidating TORIKIZOKU USA INC. (directly operated) and TORIKIZOKU FRANCHISE INC. (franchise management) under its umbrella to build a foundation for franchise expansion.
Since August 2025, the company has been running the "Continuing to Be Conceited for 40 Years Since Founding, Thank You Fair," creating store visit motivations through limited-time menus rotated every two months. In November 2025, "Toriki's Lucky Bag" was implemented for the first time. These initiatives are supporting increased customer traffic by enhancing loyalty among existing customers and acquiring new customers.
Last updated: July 17, 2026