Ikka Holdings.,Ltd
7127・Standard Market・Retail Trade
Business
Ikka Holdings Co., Ltd. is a pure holding company with the group mission of being "Japan's No. 1 hospitality group dedicated to everyone's happiness." Founded in 1997 and listed in 2017. In the Food & Beverage Business, the company directly operates 87 stores across multiple formats, centered on the Kanto region, including Yatai-ya Hakata Gekijo (47 stores) and Taishu Jingisukan Sakaba Ramu-chan (15 stores). In the Bridal Business, it independently operates The Place of Tokyo (Wedding Services), a high-value-added facility located in front of Tokyo Tower. In the Leisure Business, it operates four facilities, including Rinne, Japan's first "stay-and-experience botanical garden," which opened in November 2025. Its main customers span a broad range, including businesspeople, families, and wedding couples, with its business base centered on the greater Tokyo metropolitan area and Ibaraki Prefecture.
Business Model
Of total sales of ¥11,533 million (FY2026 (ending March 2026)), the Food & Beverage Business accounted for approximately 77% (¥8,905 million), the Bridal Business for approximately 19% (¥2,159 million), and the Leisure Business for approximately 4% (¥467 million). The Food & Beverage Business consists of dining sales at directly-managed stores, the Bridal Business comprises composite revenue from wedding services, banquets, and restaurants, and the Leisure Business is composed of experience-based revenue from BBQ, beer gardens, and lodging-type resorts. The basic structure for earnings improvement is sales expansion through new store openings, business format changes, and increases in average customer spend, combined with reductions in procurement costs through economies of scale.
Company Strengths
The company operates 87 directly managed stores across six business formats concentrated in the one metropolis and three prefectures of the Greater Tokyo area, including 47 Yatai-ya Hakata Gekijo outlets, 15 Taishu Jingisukan Sakaba Ramu-chan outlets, and 6 Kodawarimon Ikka outlets. Through its dominant strategy, the company has improved efficiency in procurement, logistics, and staff allocation, achieving Food & Beverage Business operating profit of ¥415 million in FY2026 (ending March 2026), up 652.6% year on year.
The Place of Tokyo (Wedding Services) boasts a unique, unrivaled location with a full view of Tokyo Tower, and has secured a fixed-term lease agreement through July 2032. The venue implements a distinctive repeat-customer strategy featuring four different reception halls, a permanent Sky Bar membership card gift, and invitations to first-anniversary dinners. Sales in FY2026 (ending March 2026) reached ¥2,159 million, up 10.9% year on year.
In the Food & Beverage Business, the company has built a membership system through its proprietary smartphone app, increasing repeat customer numbers via push notifications and coupon distribution. Format-specific membership programs, such as the "Yatai-ya Members," have also been established. In FY2026 (ending March 2026), same-store average customer spend rose 7.6% year on year, offsetting a 3.5% decline in customer count, and securing same-store sales growth of 3.8% year on year.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive fiscal periods, rising from ¥4,425 million in FY2022 (ending March 2022) to ¥8,376 million in FY2023 (ending March 2023), ¥9,233 million in FY2024 (ending March 2024), ¥10,090 million in FY2025 (ending March 2025), and ¥11,533 million in FY2026 (ending March 2026) (+14.3% year-on-year in FY2026). Operating profit deteriorated to ¥-75 million in FY2025 (ending March 2025), but turned positive to ¥250 million in FY2026 (ending March 2026). The main drivers were a rise in per-customer spending at existing Food & Beverage Business stores (+7.6%) and the effect of new store openings. As external factors, rising raw material costs, utility costs, and labor costs pushed up expenses, while the post-COVID recovery in foot traffic and inbound demand supported revenue. The company has disclosed its forecast for FY2027 (ending March 2027) of revenue of ¥12,549 million and operating profit of ¥414 million (+65.5% year-on-year).
Growth Strategy
Multi-pronged growth through continued dominant-area store openings in Food & Beverage, higher value-added services in Bridal, and full-scale operation launch in Leisure
Under the Kanto-area dominant strategy, the company continues opening new stores under existing formats to enhance recognition and brand strength of its core brands. In parallel, it is driving increases in repeat customers through proprietary app member acquisition and refinement of member programs, as well as efficiency improvements through store operation enhancements. In FY2026 (ending March 2026), the company opened 3 new stores and converted 2 formats, building a directly-managed network of 87 stores.
The company is promoting in-house provision of wedding-related services to improve service quality and reduce costs. It is focusing on increasing visitor numbers and contract conversion rates through strengthened partnerships with major advertising media and SNS branding, as well as capturing new banquet/restaurant business and increasing repeat customers. In FY2026 (ending March 2026), net sales reached ¥2,159 million (+10.9% year on year) driven by an increase in the number of weddings held and strong banquet performance, but the segment loss of ¥34 million continued.
The company aims for full-scale sales contribution through full-year operation of "THE BOTANICAL RESORT Rinne," a renewal project of an Ibaraki Prefecture botanical garden and Ibaraki Prefectural Forest that opened in November 2025. Together with the existing operation of 3 BBQ & Beer Garden Facilities, the company is working to develop new leisure demand centered on the group's "omotenashi" (hospitality) concept. In FY2026 (ending March 2026), only 4 months of operation since opening were recorded, resulting in a segment loss of ¥163 million.
Last updated: July 19, 2026