Overview
Retail Trade

FOOD & LIFE COMPANIES LTD.

FOOD & LIFE COMPANIES is a holding company that operates rotating sushi (kaiten-zushi) restaurant chains primarily under the 'Sushiro' brand, both domestically in Japan and across multiple international markets. In Japan, the group also operates the 'Kyotaru' takeaway sushi chain, the 'Kaiten Sushi Misaki' and 'Kaisenmisaki-ko' dine-in formats, and the 'Sushi Sake Sakana Sugidama' sushi izakaya concept. The company leverages high-volume, direct-management chain operations with strong supply chain capabilities to maintain competitive pricing and quality across its formats.

Market Cap
¥1,322B
US$8.43B
EV
¥1,490B
US$9.50B
Stock¥5,816▲+0.66%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
16.5
x
LTM EV/EBIT
30.4
x
LTM PER
42.0
x
LTM PBR
10.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+37.6%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 26, 25Rise on activist investor proposal
2Feb 6, 26Rise on strong Q3 earnings
3Mar 10, 26Rise on strong annual earnings
MC → EV Bridge
1,322BUS$8.43BMarket Cap228BUS$1.45B+ Debt64.5BUS$411M− Cash0.56BUS$3.55M− Inv. Sec.4.90BUS$31.2M+ NCI1,490BUS$9.50BEV
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Performance & Balance
Revenue 5Y (¥B)
241US$1.54B'21/9281US$1.79B'22/9302US$1.92B'23/9361US$2.30B'24/9430US$2.74B'25/9
EBITDA 5Y (¥B)
41.5US$264M'21/933.0US$211M'22/937.6US$240M'23/954.1US$345M'24/971.9US$458M'25/9
Net Income 5Y (¥B)
13.2US$84.1M'21/93.61US$23.0M'22/97.90US$50.4M'23/914.6US$93.3M'24/922.9US$146M'25/9
Capital Structure
35%
65%
EquityD/E 1.83xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
29.4US$187M172US$1.10B'21/950.6US$323M214US$1.37B'22/951.2US$327M222US$1.41B'23/948.7US$311M217US$1.38B'24/958.8US$375M219US$1.39B'25/9
Shareholders
Top 10 hold 38.2%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.65%
2
Custody Bank of Japan, Ltd. (Trust Account)
6.58%
3
National Federation of Agricultural Cooperative Associations
3.30%
4
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.90%
5
JP JPMSE LUX RE BARCLAYS CAPITAL SEC LTD EQ CO (Standing Proxy: MUFG Bank, Ltd.)
2.67%
6
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.79%
7
JP JPMSE LUX RE SOCIETE GENERALE EQ CO (Standing Proxy: MUFG Bank, Ltd.)
1.70%
8
GOVERNMENT OF NORWAY-CFD (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.57%
9
JP JPMSE LUX RE UBS AG LONDON BRANCH EQ CO (Standing Proxy: MUFG Bank, Ltd.)
1.52%
10
JP JPMSE LUX RE J.P. MORGAN SEC PLC EQ CO (Standing Proxy: MUFG Bank, Ltd.)
1.52%
Management
9 officers
Masahiro YAMAMOTO
Representative Director, President
Apr 2000 Joined Asatsu-DK Inc. (now ADK Holdings Inc.) Jan 2009 Joined Dentsu Inc. Sep 2014 Director and Executive Vice President, Dentsu media (now dentsu X) Taiwan Sep 2014 Director, Dentsu Taiwan Sep 2014 Director, Dentsu Kuo Hua Sep 2014 Director, Dentsu Shin Kyokugen Apr 2016 Vice Chairman and Co-President, Dentsu media (now dentsu X) Taiwan Sep 2020 Chief Director, Global Business Center, Dentsu Inc. Mar 2021 Assistant to Head, X Innovation Division, Dentsu International Information Services (now Dentsu Soken) Jan 2023 Director, Integrated Office, Dentsu Group Inc. Jun 2023 Senior Managing Executive Officer, Assistant to the President, the Company Oct 2023 Executive Vice President, COO for Domestic Business, the Company Oct 2023 Representative Director, Chairman, Akindo Sushiro Co., Ltd., Kyotaru Co., Ltd. and FOOD & LIFE INNOVATIONS Co., Ltd. (current) Oct 2024 President and CEO, the Company Oct 2024 Director, Sushiro Korea, Inc. (current) Oct 2024 Director, Sushiro Taiwan Co., Ltd. (current) Oct 2024 Director, Sushiro GH Singapore Pte. Ltd. (current) Oct 2024 Director, FOOD & LIFE COMPANIES HONG KONG LIMITED (current) Oct 2024 Director, Sushiro GH (Thailand) Ltd. (current) Oct 2024 Director, Sushiro (China) Investment Co., Ltd. (current) Oct 2024 Director, Guangzhou Sushiro Restaurant Co., Ltd. (current) Oct 2024 Director, Shenzhen Sushiro Restaurant Co., Ltd. (current) Oct 2024 Director, Chengdu Sushiro Restaurant Co., Ltd. (current) Oct 2024 Director, FOOD & LIFE COMPANIES USA, Corp. (current) Oct 2024 Director, PT Indonesia Sushiro Restaurants (current) Oct 2024 Director, Beijing Sushiro Restaurant Co., Ltd. (current) Oct 2024 Director, Sushiro Malaysia Sdn. Bhd. (current) Dec 2024 Representative Director, President and CEO, the Company (current)
1977-09-28
Mineshiro MIYAKE
Director
Apr 1976 Joined Kewpie Corporation Feb 2003 Director, Kewpie Corporation Feb 2010 Managing Director, Kewpie Corporation Feb 2011 Representative Director, President, Kewpie Corporation Feb 2011 Director, Nakajima Tosho Co., Ltd. Feb 2017 Advisor, Kewpie Corporation Feb 2017 Chairman, Director, Nakajima Tosho Co., Ltd. Apr 2017 President, Kewpie Mirai Tamago Foundation Dec 2017 Outside Director, Fuji Seiyaku Co., Ltd. Jun 2018 Outside Director, Kameda Seika Co., Ltd. (current) Jun 2018 Outside Director, AUTOBACS SEVEN Co., Ltd. Jun 2019 Outside Director (Audit and Supervisory Committee Member), AUTOBACS SEVEN Co., Ltd. Jun 2019 Chief Expert Member (Chair), Cabinet Office Council on Utilization of Dormant Deposits Dec 2020 Outside Director, the Company (current) Oct 2021 Expert Member, Cabinet Office Council on Utilization of Dormant Deposits Jun 2023 Outside Director, AUTOBACS SEVEN Co., Ltd.
1952-07-22
Reiko KANISE
Director
Apr 1975 Joined Hakuhodo Inc. Feb 1993 Representative Director, K. Associates Inc. (current) Jun 1999 Representative Director, President, Aeon Forest Inc. (now The Body Shop Japan) Jan 2001 Member, Consumer Committee, Japan Retailers Association (current) May 2001 Director, Japan Council of Shopping Centers May 2004 Chairman, Information Committee, Japan Council of Shopping Centers Feb 2007 Representative Director, Lena Japon Institute Co., Ltd. (current) Oct 2010 Visiting Professor, Showa Women's University Jun 2015 Outside Director, Tokyu Corporation Sep 2015 Member, Consumer Affairs Council, Cabinet Office Dec 2020 Outside Director, the Company (current) Jun 2021 Outside Director, Kitamura Holdings Co., Ltd. Sep 2022 Outside Director, And Do Holdings Co., Ltd. May 2023 Adviser, Japan Council of Shopping Centers (current)
1951-07-14
Hideetsu SAKURABA
Director
Apr 1980 Joined Ministry of Agriculture, Forestry and Fisheries Sep 2011 Deputy Director-General, Minister's Secretariat, concurrently Food Industry Affairs Bureau and Production Bureau, MAFF Jul 2014 Director-General, Food Industry Affairs Bureau, MAFF Apr 2016 Councilor, Cabinet Secretariat (concurrent) Apr 2020 Visiting Professor, Faculty of Agriculture, Takasaki University of Health and Welfare (current) Jun 2020 Outside Director, Nissin Foods Holdings Co., Ltd. (current) Apr 2023 Special Assistant to the President, Takasaki University of Health and Welfare (current) Jan 2024 Councilor, Cabinet Office, and Adviser, Ministry of Agriculture, Forestry and Fisheries
1956-05-30
Tetsuya EBATA
Director
Apr 1987 Joined Recruit Co., Ltd. Jun 2000 Founded Recruit About.com Japan Inc. (now All About, Inc.), Representative Director, President and CEO (now Group CEO) (current) Feb 2010 Director, Japan New Economy Network (current) Apr 2013 Chairman, Representative Director, All About Life Marketing Inc. (current)
1965-01-01
Haruko WATANABE
Director
Apr 1987 Joined Bank of Japan Jul 2002 Joined Goldman Sachs Japan Ltd. (now Goldman Sachs Japan Co., Ltd.) Jun 2009 Managing Executive Officer, Chartis Far East Holdings K.K. (now AIG Japan Holdings K.K.) Nov 2011 AIG Inc., Property & Casualty Dec 2014 Director, Executive Officer and COO, AIG Fuji Life Insurance Co., Ltd. (now FWD Life Insurance Company, Limited) Jun 2017 Representative Director, Executive Vice President, JI Accident & Fire Insurance Co., Ltd. Dec 2018 Executive Officer, AIG General Insurance Co., Ltd. Jun 2020 Representative Director, President and CEO, American Home Medical & Casualty Insurance Co., Ltd. (current) Jun 2020 Director, AIG Japan Holdings K.K. Jan 2022 Vice Chairman, Director, AIG Japan Holdings K.K. (current)
1964-02-18
Teiichi TAKATSUKI
Director, Audit and Supervisory Committee Member
Apr 1983 Joined World Co., Ltd. Mar 1991 Representative Director, President, WORLD ITALY S.P.A. Jun 2007 Executive Officer, General Manager, Business Management Division, World Co., Ltd. Apr 2008 Executive Officer, General Manager, Accounting Division, World Co., Ltd. Oct 2012 Executive Officer, General Manager, Business Support Division, World Co., Ltd. Jun 2015 Director, Audit and Supervisory Committee Member, World Co., Ltd. May 2024 Outside Audit & Supervisory Board Member, Shimamura Co., Ltd. (current) Dec 2024 Audit & Supervisory Board Member, Akindo Sushiro Co., Ltd. (current) Dec 2024 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1960-08-02
Mami TAIRA
Director, Audit and Supervisory Committee Member
Oct 1987 Joined Sanwa Leaseback Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC) Oct 1990 Joined Hayakawa Yoshio Tax Accountant Office Sep 1991 Registered as Certified Public Accountant Apr 1992 Registered as Certified Tax Accountant Oct 2002 Partner, Hayakawa & Taira Tax Accounting Corporation (current) May 2011 Outside Audit & Supervisory Board Member, AEON MALL Co., Ltd. May 2014 Outside Director, AEON MALL Co., Ltd. Jun 2014 Outside Audit & Supervisory Board Member, Suzuden Corporation Mar 2016 Outside Audit & Supervisory Board Member, Iseki & Co., Ltd. Jun 2016 Outside Director (Audit and Supervisory Committee Member), Suzuden Corporation (current) Dec 2020 Director, Audit and Supervisory Committee Member, the Company (current) Jun 2024 Outside Director, Showa Sangyo Co., Ltd. (current)
1962-02-20
Emi OMURA
Director, Audit and Supervisory Committee Member
Oct 2002 Registered as Attorney-at-Law (Tokyo Bar Association) Mar 2007 Registered as Attorney-at-Law (New York State Bar) Jul 2008 Partner, Athena Law Office Sep 2010 Associate Expert, International Labour Standards Department, International Labour Organization (ILO), Geneva Headquarters Jan 2014 Head, International Affairs Division, Japan Federation of Bar Associations Sep 2014 Outside Director, Digital Garage, Inc. Jun 2019 Counsel, Kamiyacho Law Office Apr 2021 Counsel, CLS Hibiya Tokyo Law Office Nov 2021 Outside Director (Audit and Supervisory Committee Member), Valuence Holdings Inc. Jan 2022 Partner, CLS Hibiya Tokyo Law Office (current) Dec 2022 Director, Audit and Supervisory Committee Member, the Company (current) May 2024 Outside Director, J. Front Retailing Co., Ltd. (current)
1976-09-02
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-06-04
4.52%→4.75%
Nomura Asset Management Co., Ltd.
2026-01-21
4.45%→4.52%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-11-20
2.82%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.14%→2.93%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-06-04
Large Shareholding Report
EDINET
2026-05-14
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
TDnet
2026-02-06
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2026-01-21
Large Shareholding Report
EDINET
2025-12-22
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-11-20
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-06
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-14
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-07
Q1 Earnings Flash
FY ending Sep 2025
EDINETAmended
2025-02-07
Amended Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-12-27
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-22
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-23
Annual Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-12-24
Annual Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINET
2021-05-07
Quarterly Securities Report
EDINET
2021-02-08
Quarterly Securities Report
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