Maruchiyo Yamaokaya Corporation

Business Details

A suburban ramen specialty store chain centered on "Ramen Yamaokaya," based on the principles of all-directly-operated stores, in-store cooking, and 24-hour operation. As of the end of the first quarter of FY2027 (ending January 2027), the company operated 198 stores across 32 prefectures, with locations along major highways in the Hokkaido, Kanto, Tohoku, Tokai, Kansai, Chugoku, Shikoku, and Kyushu areas. The company operates multiple formats: "Ramen Yamaokaya," "Niboshi Ramen Yamaokaya," and "Miso Ramen Yamaokaya." Its management vision calls for expansion to 300 stores across all 47 prefectures. As the company has no significant segments other than the restaurant business, segment information disclosure has been omitted.

Recent Overview

First-quarter net sales and profit at all levels reached record highs; same-store sales exceeded the prior-year level for the 49th consecutive month

In the first quarter of FY2027 (ending January 2027) (February to April 2026), net sales were ¥11,059 million (up 14.2% year on year), operating profit was ¥1,183 million (up 11.6%), and quarterly net profit was ¥854 million (up 17.2%), setting new record highs for net sales and profit at all levels for a first quarter. Same-store sales exceeded the prior-year level for the 49th consecutive month. During the quarter, the company opened three new stores in the Kanto, Shikoku (its first store in Takamatsu City, Kagawa Prefecture), and Kyushu areas, bringing the total number of stores at quarter-end to 198 across 32 prefectures. As a subsequent event, the Board of Directors resolved on May 25, 2026 to conduct a share buyback of up to 165,000 shares and ¥500 million (June 1 to 30, 2026, via purchases on the Tokyo Stock Exchange market). The full-year earnings forecast remains unchanged from the previous announcement (March 16, 2026).

Key Products

Growth Drivers

• Continued improvement in customer count and average spending per customer, with same-store sales exceeding the prior-year level for 49 consecutive months
• Expansion of official app membership (approximately 2.02 million) driving repeat customer acquisition and stronger CRM
• Expansion of the store network through new openings (3 new stores in the first quarter, bringing the period-end total to 198 stores across 32 prefectures)
• Geographic expansion and new market development in the Shikoku and Kyushu areas, including the company's first store opening in Takamatsu City, Kagawa Prefecture
• Increased store visit motivation and sales growth through regular introduction of limited-time products
• Maintenance and improvement of product quality through skills certification for food preparation techniques and soup training sessions
• Securing talent and strengthening store operations through enhanced trainer development and training systems

Risks

• Continued elevated ingredient costs and rising operating costs such as delivery and utility expenses
• Increased personnel expenses due to wage increases and higher recruiting costs to secure staff
• Rising costs for new store openings due to higher construction and equipment costs
• Risk of declining customer counts due to repeated price increases
• Uncertainty in raw material prices due to external environmental changes such as yen depreciation and geopolitical risk
• Rising energy costs and consumable prices due to escalating tensions in the Middle East
• Risk of prolonged inflation affecting personal consumption and reducing demand for dining out