ASAKUMA CO., LTD.
7678・Standard Market・Retail Trade
Business
Asakuma Co., Ltd. is a long-established steak restaurant chain that traces its origins to the opening of "Drivers Corner Kitchen Asakuma" in Aichi Prefecture in 1962. Its core format, "Steak no Asakuma," is a family-oriented roadside restaurant offering steaks and hamburger steaks made with Wagyu, U.S., and Australian beef alongside a salad bar, operating 78 stores in total (74 directly managed and 4 franchised) as of the end of January 2026. The company also operates the motsu-yaki izakaya "Ebisu San (Selected Motsu Sakaba)" (9 stores), the Indonesian restaurant "Wayan Bali" (1 store), and the new format "Curry no Asakuma" (1 store). Its parent company is Tenpos Holdings Co., Ltd., and it is listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
Directly-operated store food & beverage sales account for nearly the entirety of net sales of ¥10,045 million. The flagship brand "Steak no Asakuma" operates roadside-type stores exceeding 100 tsubo in size with parking for around 40 vehicles, targeting family customers and offering a high-value-added dining experience combining steak and hamburger steak with a salad bar. Profitability is secured through cost-of-goods-sold ratio management and control of the total personnel expense-to-sales ratio at 25.4%, with the basic financial policy being self-funded operations in which operating cash flow finances investment in new store openings and renovations.
Company Strengths
Same-store sales for the "Steak no Asakuma" format achieved 40 consecutive months of year-on-year growth as of March 2026. Enhanced customer visit motivation through an expanded salad bar, introduction of a hot bar, and rollout of experiential desserts, together with the monthly "Niku no Hi Event" (50% more sirloin steak) and all-you-can-eat events (held at 21 stores during the fiscal year, generating sales over 8 times the usual same-day-of-week level at maximum), continue to support customer traffic on an ongoing basis.
Sales for the fiscal year ended January 2026 were ¥10,045 million (up 20.3% year on year), surpassing ¥10 billion for the first time in 28 years. Operating profit was ¥519 million (up 188.9% year on year) and ordinary profit was ¥526 million (up 185.1% year on year), expanding rapidly to nearly three times the prior-year level. The ratio of total personnel expenses to sales also improved, declining to 25.4% (down 0.2 percentage points year on year), reflecting progress in efficiency.
Amid chronic labor shortages in the restaurant industry, the company has hired a cumulative total of 54 foreign nationals under the Specific Skilled Worker (Tokutei Ginō) visa program (with 12 more planned), and has promoted 2 foreign employees to manager positions. The company is also working to improve retention by fostering communities among employees from the same countries, establishing a workforce supply system to support rapid store expansion.
ENVALITH's Perspective
Performance Trend
In FY2021, the company posted net sales of ¥6,384 million and an operating loss of ¥695 million; the slump continued in FY2022 with net sales of ¥5,249 million and an operating loss of ¥341 million. FY2023 turned profitable with operating profit of ¥72 million, and FY2024 showed steady improvement with net sales of ¥6,101 million and operating profit of ¥175 million. In FY2026 (ending January 2026) (FY2025), net sales reached ¥10,045 million and operating profit reached ¥519 million, representing year-on-year growth of 20.3% in sales and 188.9% in profit, surpassing ¥10 billion in net sales for the first time in 28 years. The combination of continued sales growth at existing stores and contributions from new store openings has clearly accelerated the growth trajectory.
Growth Strategy
Aiming for sales of ¥20 billion in three years through a three-pronged approach of strengthening existing stores, aggressive new store openings, and new business format development
Maintained year-on-year growth in existing store sales through enhanced salad bar, hot bar, and experiential dessert offerings, along with continued implementation of "Meat Day events" and all-you-can-eat events. Aiming to improve repeat customer rates through "Cantares management," a customer-participatory store development approach.
Opened 4 stores in FY2026 (ending January 2026): Kuwana store, Suzuka store, Curry no Asakuma Osu store, and Ebisu San Hatagaya store. For FY2027 (ending January 2027), the company plans to open 11 stores combining Steak no Asakuma, Curry no Asakuma, Ebisu San and others, expanding from its Tokai region base into the Kanto and Kansai regions.
Opened "Steak no Asakuma Nishi-Umeda Herbis Plaza store" in February 2026, marking the company's first store opening in Osaka Prefecture in 21 years. The company is establishing a new model featuring a small-scale 70-tsubo store within a commercial facility in an office location, and is promoting full-scale expansion into the Kansai area.
Developing "Curry no Asakuma" to address small-scale spaces and urban locations that are difficult for the mainstay steak format to accommodate. Opened its second store in March 2026 within Sakae Sky-le in Nagoya City, aiming to expand its customer base across diverse locations.
Hired a cumulative total of 54 foreign workers with specified skills, with plans to hire an additional 12. Two foreign employees have been promoted to manager positions, strengthening the personnel supply and development system that supports rapid store expansion.
Last updated: April 29, 2026