General Oyster,Inc.
3224・Growth Market・Retail Trade
Restaurant Business
Core business operating one of Japan's largest oyster bar chains
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (external customers) | ¥3,174 million | ¥3,324 million | ↓ |
| Segment profit | ¥88 million | ¥263 million | ↓ |
| Segment assets | ¥1,450 million | ¥1,508 million | ↓ |
| Depreciation and amortization | ¥81 million | ¥72 million | ↑ |
| Capital expenditures (increase in tangible and intangible fixed assets) | ¥293 million | ¥244 million | ↑ |
| Number of restaurants at fiscal year-end (directly-managed) | 30 restaurants | 27 restaurants | ↑ |
| Number of restaurants at fiscal year-end (FC) | 3 restaurants | 2 restaurants | ↑ |
Business Details
Led by consolidated subsidiary Human Web Co., Ltd., the company operates directly-managed and franchised (FC) restaurants under multiple brands including "8TH SEA OYSTER Bar". Centered on department stores and commercial facilities in the greater Tokyo area, the business expands nationwide, offering high-safety raw oysters purified with deep ocean water through diverse cooking methods such as grilling and steaming. Repeat visits are also promoted through the "Oyster Peace Club (Membership Program)". As of the end of FY2026 (ending March 2026), the company operated a total of 33 restaurants, comprising 30 directly-managed and 3 FC restaurants. This includes restaurants under the Toyama Nyuzen Village Business.
Recent Overview
Despite opening 4 new restaurants, segment profit declined 66.5% YoY due to norovirus outbreak and raw material cost inflation
In FY2026 (ending March 2026), four new restaurants were opened: Wakayama (May 2025), Toranomon (November 2025), and TAKANAWA and Oimachi Trax (March 2026), expanding the network to 30 directly-managed and 3 FC restaurants by fiscal year-end. However, from January 2025 through the summer, a norovirus outbreak spread, resulting in insufficient procurement of oysters meeting safety standards and causing lost sales opportunities during the peak season. In addition, significant increases in raw material costs due to fluctuations in the supply-demand balance of Hiroshima-sourced oysters, combined with rising labor costs, led to a sharp deterioration in performance, with sales of ¥3,174 million (down 4.5% YoY) and segment profit of ¥88 million (down 66.5% YoY).
Key Products
Growth Drivers
- Continued new restaurant openings and FC expansion (4 new restaurants opened in FY2026, expanding to 30 directly-managed and 3 FC restaurants)
- Building a lean staffing operation model through the introduction of a mobile ordering system, improving cost efficiency
- Acquiring new customer segments through brushing up existing brands and developing new restaurant formats
- Initiatives to improve repeat visit rates through the "Oyster Peace Club" membership program
- Differentiation and value-add through a proprietary safety and trust brand based on deep ocean water purification
Risks
- Instability in oyster procurement due to food poisoning risks such as norovirus, and lost sales opportunities during peak seasons (materialized in FY2026 with significant impact on sales and profit)
- Significant rise in raw material costs due to fluctuations in the supply-demand balance of key sourcing regions, primarily Hiroshima-sourced oysters
- Continued pressure on profitability from rising labor and utility costs (the main cause of the 66.5% decline in segment profit in FY2026)
- Structural decline in demand for large group banquets and evening customers, limiting post-COVID demand recovery
- Increased recruitment and training costs and operational quality risks due to chronic labor shortages
- Increased capital expenditures associated with new restaurant openings (¥293 million in FY2026) and expanding fixed cost burden
Last updated: June 29, 2026