Overview
Retail Trade

HOTLAND HOLDINGS Co.,Ltd.

Hotland Co., Ltd. is a Japanese multi-brand food service operator best known for its flagship 'Tsukiji Gindaco' takoyaki chain, which it operates domestically and internationally through direct, outsourced, and franchise formats. The company's portfolio spans diverse dining concepts including taiyaki ('Gin no An'), highball izakayas ('Gindaco Highball Sakaba'), oil soba ('Tokyo Abura Gumi Sohonten'), yakiniku and motsu grill ('Nissho Saikyo Sakaba', 'Shoka'), set meal restaurants ('Yaro Meshi'), and COLD STONE CREAMERY ice cream (domestic master franchise). Hotland differentiates itself through vertically integrated operations encompassing proprietary equipment manufacturing, raw material procurement, processing, and logistics, enabling efficient small-footprint, high-throughput store rollouts across shopping centers, train stations, sports stadiums, and urban entertainment districts.

Market Cap
¥42.3B
US$270M
EV
¥43.6B
US$278M
Stock¥1,630▲+0.49%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
12.4
x
LTM EV/EBIT
26.3
x
LTM PER
63.8
x
LTM PBR
2.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-42.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
42.3BUS$270MMarket Cap11.1BUS$70.8M+ Debt10.2BUS$65.1M− Cash0.41BUS$2.60M− Inv. Sec.0.86BUS$5.50M+ NCI43.6BUS$278MEV
AI Briefing
Generating insights…
Performance & Balance
Revenue 5Y (¥B)
29.7US$189M'21/1232.2US$205M'22/1238.7US$247M'23/1246.1US$294M'24/1251.0US$326M'25/12
EBITDA 5Y (¥B)
2.16US$13.7M'21/123.08US$19.7M'22/123.56US$22.7M'23/123.99US$25.5M'24/123.57US$22.8M'25/12
Net Income 5Y (¥B)
2.08US$13.3M'21/121.36US$8.66M'22/121.02US$6.51M'23/121.85US$11.8M'24/120.41US$2.58M'25/12
Capital Structure
63%
37%
EquityD/E 0.60xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
3.21US$20.5M5.39US$34.4M'21/123.39US$21.6M5.24US$33.4M'22/123.13US$19.9M6.16US$39.3M'23/124.10US$26.2M7.61US$48.5M'24/125.21US$33.2M11.8US$75.1M'25/12
Shareholders
Top 10 hold 41.4%
1
Sase Kosan Co., Ltd.
18.90%
2
Morio SASE
6.28%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.54%
4
NIPPN CORPORATION
4.16%
5
Yumiko SASE
1.97%
6
Suntory Corporation
1.96%
7
Otafuku Sauce Co., Ltd.
0.81%
8
J-OIL MILLS, INC.
0.81%
9
KOSHIDAKA HOLDINGS Co.,LTD.
0.59%
10
Custody Bank of Japan, Ltd. (Trust Account)
0.36%
Management
10 officers
Morio SASE
Representative Director, President
Apr 1983: Joined Yugen Kaisha Sase Tekko Sho (Sakei Iron Works) Jul 1988: Founded specialty shop for yakisoba and onigiri, "Hotland" (Note 1) Jun 1991: Established the Company; Representative Director, President (current) Nov 2007: Established Sase Kosan Co., Ltd.; Representative Director (current) Dec 2009: President, Hotland Osaka Co., Ltd. (now Hotland Nishi-Nihon Co., Ltd.) Jan 2018: Director, Gindaco USA, Inc. (current) Apr 2019: Representative Director, Chairman, Gindaco Spirits Co., Ltd. (now ALWAYS Co., Ltd.) (current) Apr 2025: Outside Director, Style Bread Co., Ltd. (current)
1962-10-16
Satoshi OGINO
Director, Executive Vice President, in charge of Gindaco Business Division
Apr 1994: Joined Yugen Kaisha Sakurai Denki Apr 1996: Joined the Company Nov 2013: General Manager, Restaurant Business Division, the Company Aug 2014: Director, General Manager, Restaurant Business Division, the Company Mar 2015: Managing Director, General Manager, Sales Division, the Company Jan 2016: Director, Executive Vice President, General Manager, Sales Division (now Gindaco Business Division), the Company Aug 2018: President, Hotland Osaka Co., Ltd. (now Hotland Nishi-Nihon Co., Ltd.) Mar 2021: Director, Hotland Osaka Co., Ltd. Mar 2025: Representative Director, Chairman, Hotland Nishi-Nihon Co., Ltd. (current) Apr 2025: Director, Executive Vice President, in charge of Gindaco Business Division, the Company (current) Representative Director, Chairman, Hotland Higashi-Nihon Co., Ltd. (current)
1975-08-23
Yasushi MUTO
Managing Director, General Manager, Management Administration Division
Apr 1991: Joined Muto Co., Ltd. Jan 2000: Joined the Company; Head, IPO Preparation Office Jan 2003: General Manager, Corporate Planning Office, the Company Feb 2005: Chief Manager, General Affairs and Legal Department, the Company Aug 2007: Joined Shirogumi Inc.; General Manager, Corporate Planning Office Sep 2008: Director, General Manager, Corporate Planning Office, Shirogumi Inc. Oct 2011: Joined the Company; Executive Officer, General Manager, Corporate Planning Office Dec 2012: Audit & Supervisory Board Member, Hotland Osaka Co., Ltd. (now Hotland Nishi-Nihon Co., Ltd.) (current) Sep 2017: General Manager, Office of the President, the Company Oct 2018: General Manager, Finance and Accounting Division, the Company Apr 2019: Executive Officer, General Manager, Finance and Accounting Division, the Company Dec 2019: Executive Officer, General Manager, Management Administration Division, the Company Mar 2020: Director, General Manager, Management Administration Division, the Company Jan 2022: Audit & Supervisory Board Member, ALWAYS Co., Ltd. (current) May 2024: Managing Director, General Manager, Management Administration Division, the Company (current) Jul 2024: Audit & Supervisory Board Member, Showei Co., Ltd. (current) Jan 2025: Audit & Supervisory Board Member, Yoshihei Co., Ltd. (current)
1969-01-08
Yoshiyuki UCHIDA
Managing Director
Apr 1990: Joined Japan Computer Service Co., Ltd. Apr 1997: Joined Yugen Kaisha Daikokuya Apr 2010: Joined the Company Oct 2012: Supervisor, Gindaco Highball Business Division, the Company Apr 2014: Manager, Gindaco Highball Business Division, the Company Oct 2016: Deputy General Manager, Gindaco Highball Business Division, the Company Apr 2019: Established Gindaco Spirits Co., Ltd. (now ALWAYS Co., Ltd.); President (current) Mar 2024: Director, the Company May 2024: Managing Director, the Company (current) Jul 2024: Director, Showei Co., Ltd. (current)
1971-12-31
Ryuji FUKUDA
Managing Director
Apr 1992: Joined Pasona Inc. Apr 1995: Joined EMI Co., Ltd. Jul 1997: Established Fun International Co., Ltd.; Director Jul 1999: President, Fun International Co., Ltd. (current) Mar 2024: Director, the Company May 2024: Managing Director, the Company (current)
1969-11-30
Yasunori AIBA
Director
Apr 1974: Joined Suntory Ltd. Mar 2003: Director, Beer Business Division, Suntory Ltd. Mar 2007: Managing Director, Metropolitan Sales Division, Suntory Ltd. Feb 2009: Managing Executive Officer, Suntory Holdings Limited Apr 2009: President, Suntory Liquor Limited Jan 2011: Senior Managing Director, Suntory Holdings Limited Mar 2014: Director, Vice President, Suntory Holdings Limited Jun 2016: Audit & Supervisory Board Member, Tokyo Kaikan Co., Ltd. (current) Apr 2018: Advisor, Suntory Holdings Limited Apr 2019: Senior Advisor, Suntory Holdings Limited Jul 2019: Director, ALWAYS Co., Ltd. (current) Apr 2020: Special Advisor, Suntory Holdings Limited (current) Mar 2024: Outside Director, the Company (current)
1949-05-24
Yasuyuki MINAKI
Full-time Audit and Supervisory Committee Member (Director)
Jun 1992: Joined Taiyo Tosho Co., Ltd. Mar 2000: Joined the Company Apr 2003: Manager, Finance and Accounting Department, the Company Jan 2013: Head, Internal Audit Office Mar 2020: Full-time Audit and Supervisory Committee Member (Director), the Company (current)
1967-09-02
Akihide TERAYAMA
Audit and Supervisory Committee Member
Apr 1969: Joined Ito-Yokado Co., Ltd. May 1991: Managing Director, Famille Co., Ltd. May 1999: Senior Managing Director, Kasumi Convenience Networks Co., Ltd. Jun 1999: Director, Kyoritsu Maintenance Co., Ltd. Oct 2001: Senior Managing Director, Papas Co., Ltd. Jul 2002: Audit & Supervisory Board Member, the Company Jan 2003: President, Tera Association Co., Ltd. Aug 2004: President, the Company Mar 2006: Director, the Company (retired) Jun 2015: Chairman and President, Tera Association Co., Ltd. May 2016: Audit & Supervisory Board Member, Flystar Co., Ltd. Mar 2018: Outside Director, the Company Mar 2019: Outside Audit and Supervisory Committee Member, the Company Jun 2020: Chairman, Representative Director, Tera Association Co., Ltd. (current) Jun 2020: Advisor, Kyoritsu Maintenance Co., Ltd. (current) Oct 2021: Outside Director, Kyoritsu Foods Service Co., Ltd. (current)
1945-11-13
Tatsuto IMON
Audit and Supervisory Committee Member
Jul 1977: Joined Interior Imon Co., Ltd. Jun 1984: Transferred to Housing Imon Co., Ltd.; Director Jun 1997: Representative Director, Housing Imon Co., Ltd. Jul 2012: Director, Imon Homes Co., Ltd. Sep 2012: Director, Imon Kikaku Co., Ltd. Apr 2017: Director, Housing Imon Co., Ltd. Apr 2017: Representative Director, Imon Homes Co., Ltd. Apr 2017: Representative Director, Imon Kikaku Co., Ltd. Apr 2017: Managing Director, Imon Corporation Co., Ltd. Dec 2018: Advisor, TKP Corporation Feb 2019: Representative Director, Seven Wise Co., Ltd. (current) Mar 2019: Outside Audit and Supervisory Committee Member, the Company (current) Jun 2020: Advisor, Bansen Real Estate Co., Ltd. Jan 2021: Established Well Gate Co., Ltd.; Representative Director (current)
1952-12-03
Seiichi CHIBA
Director
Apr 1978: Joined Dai-Ichi Kangyo Bank (now Mizuho Bank, Ltd.) Sep 1993: Deputy General Manager, New York Branch, Dai-Ichi Kangyo Bank Sep 1997: Examiner, Third Credit Examination Department, Dai-Ichi Kangyo Bank Apr 2002: Deputy General Manager, Third Credit Examination Department, Mizuho Corporate Bank (now Mizuho Bank, Ltd.) Oct 2002: General Manager, Fourth Corporate Department, Mizuho Corporate Bank Jul 2004: General Manager, First Corporate Promotion Department, Mizuho Corporate Bank Mar 2005: Executive Officer, General Manager, First Corporate Promotion Department, Mizuho Corporate Bank Apr 2007: Managing Executive Officer, in charge of Sales, Mizuho Corporate Bank Apr 2010: Advisor, AEON Co., Ltd. May 2010: Executive Officer, Group Chief Financial Officer, AEON Co., Ltd. May 2010: Audit & Supervisory Board Member (part-time), AEON Mall Co., Ltd. Jun 2010: Audit & Supervisory Board Member (part-time), AEON Bank, Ltd. May 2013: Senior Managing Director, AEON Mall Co., Ltd. Apr 2019: Vice President, Director, AEON Mall Co., Ltd. Nov 2021: Advisor, Kinokuniya Company Ltd. Nov 2021: Audit & Supervisory Board Member, Kinokuniya Company Ltd. (current) Mar 2026: Outside Director, the Company (scheduled to assume office)
1955-07-28
Large Shareholding Reports
Sase Kosan Co., Ltd.
2026-04-24
22.63%→22.63%
Annual report (as of 2026-06-30): 18.90%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-14
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-15
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-04-24
Large Shareholding Report
EDINETAmended
2026-04-20
Amended Securities Registration Statement
EDINETAmended
2026-04-20
Amended Securities Registration Statement
EDINET
2026-04-09
Securities Registration Statement
EDINET
2026-04-09
Securities Registration Statement
EDINET
2026-03-26
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-14
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINETAmended
2025-05-30
Amended Annual Securities Report
Period: Jan 2024 – Dec 2024
TDnet
2025-05-15
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-31
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-05-13
Quarterly Securities Report
EDINET
2021-03-29
Annual Securities Report
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →