SFP Holdings Co., Ltd.
3198・Prime Market・Retail Trade
Food & Beverage Business
A single-segment business operating izakaya chains through directly managed stores and franchises
| Period | Current | Previous | Change |
|---|---|---|---|
| Consolidated net sales | ¥30,389 million | — | ↑ |
| Operating profit | ¥2,186 million | — | ↑ |
| Ordinary profit | ¥2,281 million | — | ↑ |
| Profit attributable to owners of parent | ¥1,485 million | — | ↑ |
| Total number of stores (directly managed + franchise) | 208 stores (190 directly managed, 18 franchise) | — | — |
Business Details
SFP Holdings operates izakaya chains centered on its core formats "Isomaru Suisan," "Omotenashi Toriyoshi," and "Toriyoshi Shoten," through both directly managed and franchise models. As of the end of FY2025 (ending February 2025), the company operated a total of 208 stores, comprising 190 directly managed stores and 18 franchise stores. The business is organized into four divisions: the Toriyoshi Business Division, the Isomaru Business Division, Other Business Formats, and Food Alliance Members (Consolidated Subsidiaries), and continues to expand into regional cities in addition to its focus on prime station-front locations in major metropolitan areas. All revenue is derived from the single Food & Beverage Business segment, and operations are conducted domestically only.
Recent Overview
Merger ratio finalized; procedures for business integration with CRH concretized
Following the correction to the earnings report dated April 15, 2026, the merger ratio between CRH (the surviving company in the absorption-type merger) and SFP Holdings (the company to be absorbed and dissolved), previously disclosed as a subsequent event, was finalized at "1 to 3.2," and the number of common shares to be issued by CRH was specified as 29,976,438 shares (planned). There is no impact on profit or loss, and there is no change to the reported financial results. Procedures toward the business integration are becoming more concrete, and future changes to the operational structure of the business are attracting attention.
Key Products
Growth Drivers
- Continued robust inbound demand boosting sales in the izakaya business format
- Increased royalty income from the expansion of Isomaru Suisan's franchise network (2 new franchise stores opened during the fiscal year)
- Profit expansion through aggressive store openings and format conversions of the small-format, low-investment mass-market tavern format (Gonogo, etc.)
- Diversification of trade areas through expanded store openings in regional cities
- Cost ratio control and profitability improvement through menu revisions and flexible pricing
- Strengthening of store operation systems through active recruitment and utilization of foreign specified skilled workers
Risks
- Risk of rising cost ratios due to soaring prices of raw materials and ingredients (particularly seafood and alcoholic beverages)
- Rising utility costs (water and electricity) as the effects of government subsidies fade
- Risk of hiring difficulties and rising labor costs due to industry-wide labor shortages
- Sluggish growth in average spending per customer and customer numbers due to the slow recovery of group and late-night usage
- Uncertainty in the business environment due to fluctuations in financial and capital markets, among other factors
- Risks related to the business integration with CRH via absorption-type merger (merger ratio of 1 to 3.2, planned issuance of 29,976,438 shares), including changes to organizational structure and brand management operations
Last updated: May 21, 2026