# AMIYAKI  TEI  CO.,LDT.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第31期(2025/04/01－2026/03/31) (S100Y9U0)
> Page: https://vizora.meequs.com/en/company/amiyaki-tei-ldt
> Retrieved: 2026-09-30T22:24:20.178Z

## Company

Amiyaki TEI ,LDT., founded in 1995, is a company in Fast Food & Quick Service listed on TSE Prime. It has 635 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AMIYAKI TEI CO., LTD. |
| Ticker | 2753 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2753.T) |
| Listing | TSE Prime |
| Head office | 愛知県春日井市如意申町五丁目12番地の8 |
| Representative (per filing) | 代表取締役会長兼社長 佐藤 啓介 |
| Founded | Jun 1995 |
| Share capital | ¥2.47B |
| Employees (consolidated) | 635 |
| Average salary (parent only) | ¥6.1M |
| Fiscal year end | March |
| Website | www.amiyakitei.co.jp (https://www.amiyakitei.co.jp/) |
| Corporate number | 7180001073665 |
| EDINET | E03398 |
| Industries (Vizora) | Fast Food & Quick Service, Restaurants & Pubs |

> Profile source: annual securities report (S100Y9U0, filed 2026-06-12). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 38.4 | 56 |
| Profitability | 70.5 | 66 |
| Cash conversion | 62.7 | 55 |
| Efficiency | 38.6 | 66 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 58% of Amiyaki TEI ,LDT.'s sales come from yakiniku restaurant, with restaurant and yakitori restaurant making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +6.7% from the prior year, operating profit -16.3%.

## Company structure

- Segment revenue mix: yakiniku restaurant 58.3%、restaurant 25.7%、yakitori restaurant 10.4%、Other 5.6%
- Revenue → net income: ¥37711000000 → ¥1270000000
- Net income → operating cash flow: ¥1270000000 → ¥3782000000（difference ¥2512000000）
- Main uses of operating cash flow: CapEx ¥1725000000 / dividends ¥698000000 / buybacks —
- Change in cash: ¥1744000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥37.7B |  |
| Operating income | ¥2.21B | Margin 5.9% |
| Net income | ¥1.27B | Margin 3.4% |
| Free cash flow | ¥2.06B |  |
| Largest business | yakiniku restaurant | of segment revenue 58.3% |
| Employees (consolidated) | 635 |  |
| EPS | ¥57.44 |  |
| Diluted EPS | ¥57.43 |  |
| Book value per share | ¥978.83 |  |
| Equity ratio | 75.9% |  |
| Shares outstanding | 20,546,400 |  |
| Treasury shares | 600 |  |
| Shareholders | 18,671 |  |
| Average salary (parent only) | ¥6.1M | Filing company only |
| Cash ratio | 31.3% | Cash ÷ revenue 24.6% |
| Vs. industry median margin | +1.9 pp | Restaurants & Pubs |
| ROE | 5.7% | Derived from disclosed figures |
| ROA | 4.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.0× net income
- FY2026, parent-company salary changed +23% over five years
- FY2026, cash is 31% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥22137000000 | ¥37711000000 | +70.4% |
| Operating income | ¥-2402000000 | ¥2209000000 | — |
| Operating margin | -10.9% | 5.9% | +16.7 pp |
| Employees | 592 people | 635 people | +7.3% |
| Cash and equivalents | ¥3733000000 | ¥9295000000 | +149.0% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 焼肉 → 焼肉 | 58.3% |
| 焼肉 → 事業再編・廃止 | 19.9% |
| 焼鳥 → 焼鳥 | 10.4% |
| 焼鳥 → 事業再編・廃止 | 0.1% |
| レストラン → レストラン | 7.9% |
| その他 → その他 | 3.4% |
| 新設・再編 → レストラン | 17.8% |
| 新設・再編 → その他 | 2.2% |

Segment revenue source references: 8 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| yakiniku restaurant | 5 years | +4.9% | ¥21979000000 | 6.3% | 2 |
| restaurant | 5 years | +40.7% | ¥9686000000 | 6.3% | 2 |
| yakitori restaurant | 5 years | +11.1% | ¥3918000000 | 8.8% | 2 |
| Other | 5 years | +22.9% | ¥2127000000 | 4.9% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 37,711 | 100.0% | S100Y9U0 |
| Cost of revenue | 15,215 | 40.3% | S100Y9U0 |
| Gross profit | 22,496 | 59.7% | S100Y9U0 |
| SG&A | 20,286 | 53.8% | S100Y9U0 |
| Operating income | 2,209 | 5.9% | S100Y9U0 |
| Ordinary income | 2,344 | 6.2% | S100Y9U0 |
| Pretax income | 2,089 | 5.5% | S100Y9U0 |
| Income tax | 819 | 2.2% | S100Y9U0 |
| Net income | 1,270 | 3.4% | S100Y9U0 |
| Net income attributable to owners | 1,270 | 3.4% | S100Y9U0 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 40 |
| SG&A | 54 |
| Operating income | 6 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 59.7% → Operating margin 5.9% → Net margin 3.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +6.7%; Core profit growth: -16.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -2.42×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 35,332 | 37,711 | 2,379 | +6.7% |
| Gross profit | 21,586 | 22,496 | 910 | +4.2% |
| Operating income | 2,638 | 2,209 | -429 | -16.3% |
| Net income attributable to owners | 1,736 | 1,270 | -466 | -26.8% |
| Operating cash flow | 2,712 | 3,782 | 1,070 | +39.5% |
| Free cash flow | 948 | 2,057 | 1,109 | +117.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 31,877 | 1,857 | 5.8% | 921 | 1,500 | 541 | S100LT9J |
| FY ending Mar 2021 | 22,137 | -2,402 | -10.9% | -1,433 | -1,151 | -1,525 | S100O8G0 |
| FY ending Mar 2022 | 21,564 | -3,382 | -15.7% | 627 | 1,170 | 431 | S100QYL8 |
| FY ending Mar 2023 | 28,538 | 422 | 1.5% | 132 | 2,031 | 946 | S100TS6G |
| FY ending Mar 2024 | 33,267 | 2,221 | 6.7% | 1,307 | 3,531 | 2,297 | S100VW42 |
| FY ending Mar 2025 | 35,332 | 2,638 | 7.5% | 1,736 | 2,712 | 948 | S100Y9U0 |
| FY ending Mar 2026 | 37,711 | 2,209 | 5.9% | 1,270 | 3,782 | 2,057 | S100Y9U0 |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥59.4M |
| Operating income per employee (consolidated) | ¥3.5M |
| Net income per employee (consolidated) | ¥2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 571 | 536 | 564 | 620 | 635 |
| Average salary (parent company) | ¥5M | ¥5.2M | ¥5.5M | ¥6M | ¥6.1M |
| Average age (parent company) | 39.6 years | 40.3 years | 40.5 years | 40.5 years | 40.9 years |
| Average tenure (parent company) | 7.0 years | 7.0 years | 8.0 years | 8.0 years | 8.0 years |

Year over year: Employees (consolidated) +2.4% · Revenue (consolidated) +6.7%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| yakiniku restaurant | 21,979 | 58.3% | 1,392 | 6.3% |
| yakitori restaurant | 3,918 | 10.4% | 343 | 8.8% |
| restaurant | 9,686 | 25.7% | 607 | 6.3% |
| Other | 2,127 | 5.6% | 105 | 4.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| yakiniku restaurant | 58.3% | 56.9% | -1.4 | 6.3% |
| yakitori restaurant | 10.4% | 14.0% | 3.6 | 8.8% |
| restaurant | 25.7% | 24.8% | -0.9 | 6.3% |
| Other | 5.6% | 4.3% | -1.3 | 4.9% |

Segment → industry: restaurant → Fast Food & Quick Service / restaurant → Restaurants & Pubs / yakitori restaurant → Restaurants & Pubs / yakiniku restaurant → Restaurants & Pubs

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 3,782 | 10.0% | S100Y9U0 |
| Capital expenditure | 1,725 | 4.6% | S100Y9U0 |
| Free cash flow | 2,057 | 5.5% | 算出 |
| Investing cash flow | -814 | -2.2% | S100Y9U0 |
| Financing cash flow | -1,224 | -3.2% | S100Y9U0 |
| Dividends paid | 698 | 1.9% | S100Y9U0 |
| Change in cash | 1,744 | 4.6% | S100Y9U0 |
| Cash and equivalents | 9,295 | 24.6% | S100Y9U0 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 3,813 | 4,445 | 5,677 | 7,551 | 9,295 | S100TS6G, S100VW42, S100Y9U0 |
| Total assets | 24,546 | 24,865 | 27,236 | 27,810 | 29,652 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Net assets | 20,140 | 20,066 | 20,894 | 21,941 | 22,516 | S100TS6G, S100VW42, S100Y9U0 |
| Share capital | 2,473 | 2,473 | 2,473 | 2,473 | 2,473 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Property, plant and equipment | 7,216 | 7,159 | 7,805 | 9,069 | 11,232 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Intangible assets excluding goodwill | 749 | 663 | 2,332 | 2,133 | 2,600 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Goodwill | 721 | 643 | 2,309 | 2,108 | 2,559 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Investment securities | 5 | — | — | — | — | S100QYL8 |
| Current assets | 12,434 | 13,058 | 12,740 | 12,319 | 11,649 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Current liabilities | 3,558 | 4,030 | 5,110 | 4,411 | 5,152 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Short-term borrowings | 300 | 300 | 300 | 300 | 300 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Long-term borrowings | 26 | — | 375 | 271 | 574 | S100QYL8, S100VW42, S100Y9U0 |
| Bonds | — | — | 30 | — | — | S100VW42 |
| Interest-bearing debt | — | — | 705 | — | — | 算出 |
| Total liabilities | 4,406 | 4,799 | 6,341 | 5,869 | 7,136 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Equity attributable to owners of parent | 20,140 | 20,066 | 20,894 | 21,939 | 22,512 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Retained earnings | 15,241 | 15,168 | 15,996 | 17,040 | 17,612 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |
| Treasury stock | -1 | -1 | -1 | -2 | 0 | S100QYL8, S100TS6G, S100VW42, S100Y9U0 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 31% | S100Y9U0 |
| Property, plant and equipment | 38% | S100Y9U0 |
| Intangibles and goodwill | 18% | S100Y9U0 |
| Other assets | 13% | S100Y9U0 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100Y9U0 |
| Equity | 76% | S100Y9U0 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 24,546 | 24,865 | 27,236 | 27,810 | 29,652 |
| Equity | 20,140 | 20,066 | 20,894 | 21,941 | 22,516 |
| Interest-bearing debt | — | — | 705 | — | — |
| Cash | 3,813 | 4,445 | 5,677 | 7,551 | 9,295 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 29.8% | S100Y9U0 |
| Fixed assets ÷ total assets | 37.9% | S100Y9U0 |
| Goodwill ÷ parent equity | 11.4% | S100Y9U0 |

Goodwill over 4 years: 721 → 2,559 JPY; total investing cash flow: -4,292 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 31.3% |
| Cash ÷ revenue | 24.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 171.2% |
| Cash vs. profit gap | 2,512 JPY mn (of net income 197.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 55.0% |
| Shareholder payments — dividends / FCF | 33.9% |
| CapEx intensity (capex ÷ revenue) | 4.6% |
| Investing CF relative to operating CF | 21.5% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 2.9% | 0.88× | 2.6% | 1.22× | 3.1% | S100QYL8 |
| 2023 | 0.5% | 1.16× | 0.5% | 1.23× | 0.7% | S100TS6G |
| 2024 | 3.9% | 1.28× | 5.0% | 1.27× | 6.4% | S100VW42 |
| 2025 | 4.9% | 1.28× | 6.3% | 1.29× | 8.1% | S100Y9U0 |
| 2026 | 3.4% | 1.31× | 4.4% | 1.29× | 5.7% | S100Y9U0 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| チャレンジブイコーポレーション有限会社 | Major shareholder | 36.5% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 6.2% | 2026-03-31 |
| 佐藤 啓介 | Major shareholder | 3.0% | 2026-03-31 |
| 佐藤 きい | Major shareholder | 1.5% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ 510560 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 0.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 0.5% | 2026-03-31 |
| ＢＮＰ ＰＡＲＩＢＡＳ ＮＥＷ ＹＯＲＫ ＢＲＡＮＣＨ－ＰＲＩＭＥ ＢＲＯＫＥＲＡＧＥ ＣＬＥＡＲＡＮＣＥ ＡＣＣＯＵＮＴ （常任代理人 香港上海銀行東京支店カストディ業務部） | Major shareholder | 0.4% | 2026-03-31 |
| 佐藤 和也 | Major shareholder | 0.3% | 2026-03-31 |
| 佐藤 明大 | Major shareholder | 0.3% | 2026-03-31 |
| 藤井 有里 | Major shareholder | 0.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第31期(2025/04/01－2026/03/31) | S100Y9U0 | 2026-06-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y9U0,, |
| 有価証券報告書－第30期(2024/04/01－2025/03/31) | S100VW42 | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VW42,, |
| 有価証券報告書－第29期(2023/04/01－2024/03/31) | S100TS6G | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TS6G,, |
| 有価証券報告書－第28期(2022/04/01－2023/03/31) | S100QYL8 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QYL8,, |
| 有価証券報告書－第27期(令和3年4月1日－令和4年3月31日) | S100O8G0 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O8G0,, |
| 有価証券報告書－第26期(令和2年4月1日－令和3年3月31日) | S100LT9J | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LT9J,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).