Overview
Retail Trade

KOZO Holdings Co.,Ltd.

KOZO Holdings Co., Ltd. is a holding company operating in three segments: retail (take-out sushi under the 'Kozo Sushi' and 'Chagetsu' brands via 92 directly managed stores and 60 franchise locations), food & beverage (38 directly managed eat-in restaurants and 239 franchise stores under brands including 'Tori Tetsu,' 'Dosanko,' and 'Kimukatsu'), and distribution (delivery food service via 'Deriz' with 78 locations, and wholesale food distribution through Toyo Shoji with 12 national bases). The group also operates internationally, with franchise locations in Hawaii (USA), and restaurant operations in North America and the UK through partnerships and subsidiaries. As a franchisor across its core brands, the company generates royalty income and provides supply-chain and operational guidance to franchisees.

Market Cap
¥5.30B
US$33.8M
EV
¥5.43B
US$34.6M
Stock¥18▲+0.00%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
10.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-43.0%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
5.30BUS$33.8MMarket Cap0.71BUS$4.50M+ Debt0.59BUS$3.76M− Cash0.02BUS$0.10M− Inv. Sec.0.02BUS$0.15M+ NCI5.43BUS$34.6MEV
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Performance & Balance
Revenue 5Y (¥B)
8.02US$51.1M'21/1210.3US$65.6M'22/1213.1US$83.3M'23/1218.1US$115M'24/1219.4US$124M'25/12
EBITDA 5Y (¥B)
0.06US$0.36M'21/12-0.49-US$3.11M'22/12-0.19-US$1.20M'23/12-0.34-US$2.19M'24/12-0.23-US$1.45M'25/12
Net Income 5Y (¥B)
-0.62-US$3.95M'21/12-0.95-US$6.08M'22/12-0.34-US$2.16M'23/12-0.78-US$4.99M'24/12-0.68-US$4.36M'25/12
Capital Structure
41%
59%
EquityD/E 1.42xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.20US$7.65M2.23US$14.2M'21/120.43US$2.72M0.63US$4.04M'22/121.02US$6.53M1.28US$8.14M'23/121.14US$7.28M1.11US$7.06M'24/120.99US$6.32M0.87US$5.52M'25/12
Shareholders
Top 10 hold 16.9%
1
HSI Global Co., Ltd.
3.06%
2
ASRAPPORT Co., Ltd.
2.94%
3
Hanshin Shuhan Co., Ltd.
2.87%
4
Rakuten Securities, Inc.
2.05%
5
Tokyo Tanshi Co., Ltd.
1.35%
6
MACQUARIE BANK LIMITED DBU AC (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.01%
7
JFLA Holdings Inc.
1.00%
8
SBI SECURITIES Co., Ltd.
0.93%
9
Seiji NISHIMOTO
0.86%
10
Koji TOYOOKA
0.86%
Management
11 officers
Masanori MORISHITA
Representative Director
Apr 1990 Joined Nippon Long-Term Credit Bank, Ltd. (currently SBI Shinsei Bank, Ltd.) Nov 2000 Joined Merrill Lynch Japan Securities Co., Ltd. Jun 2005 Director, Asset Investors Co., Ltd. (currently Merchant Bankers Co., Ltd.) Feb 2009 Representative Director and President, Asset Investors Co., Ltd. (currently Merchant Bankers Co., Ltd.) Jun 2014 Director and Head of Overseas Strategy Division, Asura Port Dining Co., Ltd. (currently JFLA Holdings, Inc.) Mar 2016 Representative Director and President, ASRAPPORT Co., Ltd. Jun 2017 Representative Director and President, Asura Port Dining Co., Ltd. Aug 2018 Director, JFLA Holdings, Inc. Mar 2023 Representative Director, ASRAPPORT Co., Ltd. (current) Feb 2024 Representative Director and President, Kozosushi Co., Ltd. (preparatory company; currently Kozosushi Co., Ltd.) (current) May 2024 Director, Kozosushi UK Limited (current) May 2024 Director, Japan Centre Group Limited (current)
1967-04-01
Eiji KAWAKAMI
Director
Apr 2003 Joined TASCO System Co., Ltd. Jun 2013 Director and Head of Sales Division, Toritetsu Co., Ltd. Mar 2016 Representative Director and President, Toritetsu Co., Ltd. Apr 2017 Director, ASRAPPORT Co., Ltd. Apr 2019 Representative Director and President, ASRAPPORT France SAS (current) Jul 2021 Director, Tlanseair Co., Ltd. (currently ASRAPPORT Co., Ltd.) Jul 2022 Director, ASRAPPORT Co., Ltd. Mar 2023 Representative Director and President, ASRAPPORT Co., Ltd. (current) Mar 2023 Representative Director and President, Spicy Create Co., Ltd. (current) Mar 2023 Director and Deputy Head of Administration Division, the Company (current) May 2024 Representative Director and President, ASRAPPORT DINING USA, INC. (current)
1977-12-27
Kenkyu MOURI
Director
Apr 2007 Joined Yumashin Holdings Co., Ltd. Mar 2016 Joined the Company Nov 2017 Audit & Supervisory Board Member, Spicy Create Co., Ltd. (current) Apr 2018 Head of Corporate Planning Office, the Company (current) Mar 2020 Deputy Head of Administration Division, the Company Mar 2021 Audit & Supervisory Board Member, Daimaru Co., Ltd. (current) Mar 2021 Audit & Supervisory Board Member, Deli's Co., Ltd. (current) Jul 2021 Audit & Supervisory Board Member, Tlanseair Co., Ltd. (currently ASRAPPORT Co., Ltd.) (current) Jul 2022 Audit & Supervisory Board Member, ASRAPPORT Co., Ltd. (current) Mar 2023 Director and Head of Administration Division, the Company (current) Dec 2024 Director, Kozosushi Co., Ltd. (current) Jan 2025 Director and Head of Corporate Planning Office, the Company (current)
1982-06-16
Takanari NAKAJIMA
Director
Feb 2002 Joined Prime Link Co., Ltd. (currently ASRAPPORT Co., Ltd.) Apr 2005 General Manager, Solutions Department, Prime Link Co., Ltd. (currently ASRAPPORT Co., Ltd.) Apr 2010 General Manager, Marketing Department, Prime Link Co., Ltd. (currently ASRAPPORT Co., Ltd.) Apr 2018 Deputy General Manager, Prime Business Division, ASRAPPORT Co., Ltd. Oct 2020 General Manager, Prime Business Division, ASRAPPORT Co., Ltd. Jul 2021 Deputy General Manager, Marketing Department, Tlanseair Co., Ltd. (currently ASRAPPORT Co., Ltd.) Mar 2023 Director, the Company (current) Oct 2023 Director and Head of Business Development Division, ASRAPPORT Co., Ltd. (current) Oct 2024 Director and Head of Marketing Division, the Company (current)
1969-06-24
Naruto KOMIYA
Director
May 2004 Joined Style Co., Ltd. Mar 2010 General Manager, FC Division, Resonance Dining Co., Ltd. (currently ASRAPPORT Co., Ltd.) May 2021 Director, Deli's Co., Ltd. (current) Apr 2022 Director and Head of Sales Division, Deli's Co., Ltd. Mar 2023 Representative Director and President, Deli's Co., Ltd. (current) Mar 2023 Director, TBJ Co., Ltd. (current) Mar 2023 Director, the Company (current)
1981-06-03
Takayuki MIURA
Director
Apr 2005 Joined Style Co., Ltd. Mar 2010 General Manager, MD Division, Resonance Dining Co., Ltd. (currently ASRAPPORT Co., Ltd.) Nov 2011 Director and Vice President, Resonance Dining Co., Ltd. (currently ASRAPPORT Co., Ltd.) Apr 2017 Director, ASRAPPORT Co., Ltd. Jun 2018 Representative Director, Juttoku Co., Ltd. (current) Mar 2022 Director, the Company (current) Jul 2022 Director, ASRAPPORT Co., Ltd. Mar 2023 Director and Vice President, ASRAPPORT Co., Ltd. (current)
1979-07-16
Koichiro YOSHIDA
Director
Nov 1982 Joined Asahi Accounting Firm (currently Azsa LLC) Jan 1989 Joined Toyo Audit Corporation Oct 1991 Head, Koichiro Yoshida Certified Tax Accountant Office Dec 1999 Representative Partner, Toyo Audit Corporation May 2001 Director, Toyo Audit Corporation May 2005 Managing Director, Toyo Audit Corporation May 2007 Representative Partner, Akatsuki Certified Tax Accountant Corporation Aug 2012 Deputy Chairman, Toyo Audit Corporation Apr 2018 Director, the Company (current) Sep 2018 Partner, Carnelian Certified Tax Accountant Corporation (current)
1959-02-26
Wataru NAKAO
Director
Sep 2002 Joined Hikari Tsushin, Inc. Jan 2005 Director, Japan Tobacco Inc. Aug 2005 Director, Global Telemarketing Co., Ltd. Jul 2009 General Manager, SD Business Division, Hanshin Shuhan Co., Ltd. (current) Apr 2010 Representative Director, Oasis Link Co., Ltd. (current) Jan 2011 Director, Evervision Co., Ltd. Apr 2018 Director, Azakura Brewery Co., Ltd. Apr 2018 Director, Fujitakasago Sake Brewery Co., Ltd. Apr 2018 Director, SAKE Associates Co., Ltd. (current) Apr 2021 Director, Toyo Shoji Co., Ltd. (current) Apr 2021 Director, Moriyoshi Co., Ltd. (current) Mar 2022 Director, Eikido Co., Ltd. (current) Mar 2023 Director, the Company (current)
1980-03-21
Akihiko BANDA
Audit & Supervisory Board Member
Apr 1978 Joined Shunyodo Co., Ltd. Oct 2004 Director and General Manager, Sales Division, Spicy Co., Ltd. Oct 2009 Established Spicy Create Co., Ltd., Representative Director Mar 2024 Audit & Supervisory Board Member, the Company (current)
1956-03-29
Masayuki SAITO
Audit & Supervisory Board Member
Oct 1986 Joined Overseas Corporate Services Center Co., Ltd. Oct 1998 Director and Head of President's Office, Overseas Corporate Services Center Co., Ltd. Sep 2002 Joined Royal Fort Sweden Co., Ltd. Apr 2004 General Manager, Administration Division, Royal Fort Sweden Co., Ltd. May 2009 Joined Aruze Corp. (currently Universal Entertainment Corporation) as Head of Administration Division Dec 2009 Joined Asura Port Dining Co., Ltd. (currently JFLA Holdings, Inc.) as General Manager, Accounting and Finance Department Apr 2017 Director, Still Foods Co., Ltd. Aug 2018 Deputy General Manager, Administration Division, JFLA Holdings, Inc. Mar 2024 Audit & Supervisory Board Member, the Company (current)
1965-03-05
Toshikatsu NAKANE
Audit & Supervisory Board Member
Apr 1988 Joined Nippon Long-Term Credit Bank, Ltd. (currently SBI Shinsei Bank, Ltd.) Jul 2006 Joined Sumitomo Trust & Banking Co., Ltd. (currently Sumitomo Mitsui Trust Bank, Limited) Dec 2007 Registered as attorney-at-law (Tokyo Bar Association) Feb 2012 Opened Nakane Law Office Jun 2013 Audit & Supervisory Board Member, Minato Holdings Co., Ltd. Dec 2015 Established Successt Law Corporation, Representative Partner (current) Jun 2023 Audit and Supervisory Committee Member, Minato Holdings Co., Ltd. (current) Mar 2024 Audit & Supervisory Board Member, the Company (current)
1963-05-23
Large Shareholding Reports
JFLA Holdings Co., Ltd.
2026-03-12
6.87%→5.46%
Annual report (as of 2026-06-30): 1.00%
Macquarie Bank Limited
2025-08-15
5.95%→2.81%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Jun 2026
TDnet
2026-05-08
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-30
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-12
Large Shareholding Report
TDnet
2025-11-07
Q3 Earnings Flash
FY ending Dec 2025
EDINETAmended
2025-10-07
Amended Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-08-15
Large Shareholding Report
EDINET
2025-08-13
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-13
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINETAmended
2025-03-27
Amended Securities Registration Statement
EDINET
2025-03-24
Securities Registration Statement
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Jun 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-01-17
Securities Registration Statement
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Jan 2023 – Jun 2023
EDINET
2023-05-12
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
EDINETAmended
2022-11-14
Amended Securities Registration Statement
EDINETAmended
2022-11-08
Amended Securities Registration Statement
EDINET
2022-11-04
Securities Registration Statement
EDINET
2022-08-12
Quarterly Securities Report
EDINETAmended
2022-07-01
Amended Securities Registration Statement
EDINET
2022-06-15
Securities Registration Statement
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2021-11-16
Securities Registration Statement
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