Overview
Retail Trade

kaihan co.,Ltd.

Kaiho Co., Ltd. operates a portfolio of izakaya-centered restaurant brands primarily in the Tokai region (Aichi, Gifu, Mie prefectures) and expanding into the Kanto region, running 46 total outlets (20 directly managed, 26 franchised) under brands including 'Shinjidai,' 'Natsukashi-dokoro Showa Shokudo,' and 'Ebisu-ya.' The company also operates a renewable energy business focused on solar power generation and equipment sales, and a newly added medical business providing management consulting (MS法人) services to aesthetic clinics through its subsidiary Kaihan Medical. Growth is pursued through a dominant-area expansion strategy, franchising, and M&A.

Market Cap
¥2.30B
US$14.6M
EV
¥4.43B
US$28.3M
Stock¥33▲+13.79%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
3.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-116.1%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 25, 26FY guidance raised, dividend increase
MC → EV Bridge
2.30BUS$14.6MMarket Cap2.48BUS$15.8M+ Debt0.36BUS$2.30M− Cash0.00BUS$0.00M− Inv. Sec.0.02BUS$0.11M+ NCI4.43BUS$28.3MEV
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Performance & Balance
Revenue 5Y (¥B)
0.78US$4.95M'22/32.09US$13.3M'23/32.44US$15.6M'24/32.79US$17.8M'25/33.15US$20.1M'26/3
EBITDA 5Y (¥B)
-0.64-US$4.08M'22/3-0.48-US$3.04M'23/3-0.53-US$3.38M'24/3-0.38-US$2.42M'25/3-1.33-US$8.46M'26/3
Net Income 5Y (¥B)
-0.45-US$2.89M'22/3-1.14-US$7.24M'23/3-0.71-US$4.54M'24/3-0.74-US$4.70M'25/3-5.14-US$32.7M'26/3
Capital Structure
22%
78%
EquityD/E 3.61xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.51US$9.61M1.18US$7.54M'22/30.32US$2.01M1.59US$10.1M'23/30.80US$5.13M1.98US$12.6M'24/30.44US$2.78M2.29US$14.6M'25/30.47US$3.01M2.78US$17.7M'26/3
Shareholders
Top 10 hold 22.7%
1
Motohiro YOSHIKAWA
17.13%
2
Rakuten Securities, Inc.
2.28%
3
Toru MIZUSHIMA
0.69%
4
Masayuki MIZUGUCHI
0.53%
5
Katsuya TAKAHARA
0.40%
6
Tetsuya YOSHIDA
0.38%
7
Nomura Securities Co., Ltd.
0.33%
8
BNYM SA/NV FOR BNYM FOR BNY GCM CLIENT ACCOUNTS M LSCB RD (Standing Proxy: MUFG Bank, Ltd.)
0.32%
9
Shinichiro KAMEI
0.31%
10
Retsukei YAMAGUCHI
0.28%
Management
6 officers
Naoki MORITA
Representative Director, President
Jun 2013 Representative Director, Realize Co., Ltd. (current) Apr 2020 Director, e-waves Co., Ltd. Mar 2022 Director of the Company Jul 2022 Director, SSS Co., Ltd., subsidiary of the Company (current) Jan 2023 Director, Sea Sail United Co., Ltd., subsidiary of the Company (current) Jan 2024 Representative Director, President of the Company (current)
1984-09-20
Motohiro YOSHIKAWA
Director
Apr 2003 Joined Crystal Co., Ltd. Aug 2009 Representative Director, Pegasos Electra Co., Ltd. (current) Sep 2014 Representative Director, Cosmo RS Co., Ltd. (current) Apr 2020 Representative Director, Pegasus Co., Ltd. (current) Apr 2021 President, Goyo Intex Co., Ltd. Mar 2022 Director of the Company Jul 2022 Representative Director, Vice President of the Company Jul 2022 Director, SSS Co., Ltd., subsidiary of the Company (current) Aug 2022 Representative Director, President of the Company Jan 2024 Director of the Company (current) Jun 2024 Representative Director, Sea Sail United Co., Ltd., subsidiary of the Company (current) Sep 2024 Director, Birdman Co., Ltd. (current)
1977-06-17
Mayumi UEDA
Director
Apr 1993 Joined Shinsei HD Co., Ltd. Nov 2005 Joined F.K. Logi Co., Ltd. May 2007 Joined Pan-Asian Investment Fund Apr 2014 Joined Kamuzu Work Co., Ltd. Apr 2021 Joined BDJ GLC PTE. LTD. (current) Jun 2024 Director of the Company (current)
1972-12-10
Susumu TEZUKA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1983 Joined Eisai Co., Ltd. Nov 2019 Joined Sumitomo Fudosan Tatemono Service Co., Ltd. May 2022 Head of Internal Audit Office of the Company Jun 2025 Director (Audit and Supervisory Committee Member) of the Company (current)
1958-06-26
Nobufumi AOKI
Director (Audit and Supervisory Committee Member)
Oct 2000 Joined Azusa Audit Corporation (formerly Asahi Audit Corporation), Osaka Office Apr 2011 Representative Partner, Asahi Tax Corporation Sep 2022 Representative, Aoki Accounting Office (current) Jan 2023 Outside Director of the Company Sep 2024 Corporate Auditor, KaihanMedical Co., Ltd. (current) Jun 2025 Director (Audit and Supervisory Committee Member) of the Company (current)
1974-02-07
Kohei SAKAI
Director (Audit and Supervisory Committee Member)
Nov 1992 Passed the National Bar Examination Apr 1995 Appointed Public Prosecutor; subsequently served at Tokyo High Public Prosecutors Office, Tokyo District Public Prosecutors Office, Osaka District Public Prosecutors Office, Chief Prosecutor of Yonago Branch of Tottori District Public Prosecutors Office, Deputy Chief Prosecutor of Naha District Public Prosecutors Office, Director-General of the International Cooperation Department at the Research and Training Institute of the Ministry of Justice, First Secretary at the Embassy of Japan in France, Instructor at the Legal Training and Research Institute of the Supreme Court, and Specially Appointed Professor at Chuo University Law School Mar 2019 Retired as Public Prosecutor Apr 2021 Registered as Attorney-at-law Oct 2022 Joined Kairos Law Office (current) Jun 2025 Director (Audit and Supervisory Committee Member) of the Company (current)
1957-03-02
Large Shareholding Reports
Ryutaro Nakagawa
2026-10-13
5.06%→4.06%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Kohei MATSUMURA
2026-10-07
—
Kohei MATSUMURA
2026-10-06
5.27%→4.26%
Ryutaro NAKAGAWA
2026-10-01
5.06%→4.06%
Ryotaro Nakagawa
2026-08-31
5.06%
Ryutaro Nakagawa
2026-08-31
5.06%
Evo Fund
2026-05-26
46.96%→45.85%
Evo Fund
2026-05-22
47.97%→46.96%
Evo Fund
2026-05-13
49.02%→47.97%
Evo Fund
2026-04-01
50.05%→49.02%
Evo Fund
2026-03-16
50.05%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-10-13
Change Report
EDINETAmended
2026-10-07
Change Report
EDINET
2026-10-06
Large Shareholding Report
EDINET
2026-10-01
Large Shareholding Report
EDINET
2026-08-31
Large Shareholding Report
EDINETAmended
2026-08-31
Change Report
TDnet
2026-08-14
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-07-08
Amended Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-26
Large Shareholding Report
EDINET
2026-05-22
Large Shareholding Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-04-01
Large Shareholding Report
EDINET
2026-03-16
Large Shareholding Report
EDINET
2026-02-20
Securities Registration Statement
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-12-05
Amended Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINETAmended
2025-12-05
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2025-10-30
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINETAmended
2025-10-30
Amended Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnetAmended
2025-10-30
Q3 Earnings Flash
FY ending Mar 2025
TDnetAmended
2025-10-30
Q1 Earnings Flash
FY ending Mar 2026
TDnet
2025-08-14
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINETAmended
2025-06-04
Amended Securities Registration Statement
EDINETAmended
2025-05-22
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2025-05-22
Securities Registration Statement
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Sep 2024
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