# Choushimaru Co.,Ltd.: business model and financials

> Latest period: FY ending Feb 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第49期(2025/03/01－2026/02/28) (S100Y6WM)
> Page: https://vizora.meequs.com/en/company/choushimaru
> Retrieved: 2026-09-30T21:06:53.079Z

## Company

Choushimaru, founded in 1977, is a company in Restaurants & Pubs listed on TSE Standard. It has 514 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Choushimaru Co.,Ltd. |
| Ticker | 3075 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3075.T) |
| Listing | TSE Standard |
| Head office | 千葉市美浜区浜田二丁目39番地 |
| Representative (per filing) | 代表取締役社長 石井 憲 |
| Founded | Nov 1977 |
| Share capital | ¥100M |
| Employees (consolidated) | 514 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | February |
| Corporate number | 1040001001199 |
| EDINET | E03507 |
| Industries (Vizora) | Restaurants & Pubs |

> Profile source: annual securities report (S100Y6WM, filed 2026-05-28). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 82.6 | 66 |
| Cash conversion | 37.3 | 55 |
| Efficiency | 78 | 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)

- Choushimaru brought in ¥23.7B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +36.1% from the prior year, operating profit +49.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥23667462000 → ¥1006946000
- Net income → operating cash flow: ¥1006946000 → ¥2081573000（difference ¥1074627000）
- Main uses of operating cash flow: CapEx ¥958692000 / dividends ¥149841000 / buybacks —
- Change in cash: ¥437629000
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 | ¥23.7B |  |
| Operating income | ¥1.58B | Margin 6.7% |
| Net income | ¥1.01B | Margin 4.3% |
| Free cash flow | ¥1.12B |  |
| Employees (consolidated) | 514 |  |
| EPS | ¥80.57 |  |
| Diluted EPS | ¥80.35 |  |
| Book value per share | ¥698.48 |  |
| Equity ratio | 71.9% |  |
| Shares outstanding | 14,518,000 |  |
| Treasury shares | 1,997,200 |  |
| Shareholders | 8,954 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 36.5% | Cash ÷ revenue 18.8% |
| Vs. industry median margin | +2.7 pp | Restaurants & Pubs |
| ROE | 12.1% | Derived from disclosed figures |
| ROA | 8.8% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.1× net income
- FY2026, cash is 37% of total assets

## What changed in 2 years

| Metric | FY ending May 2024 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥21360275000 | ¥23667462000 | +10.8% |
| Operating income | ¥1709008000 | ¥1575461000 | -7.8% |
| Operating margin | 8.0% | 6.7% | -1.3 pp |
| Employees | 491 people | 514 people | +4.7% |
| Cash and equivalents | ¥6178351000 | ¥4440735000 | -28.1% |

### Change in segment revenue mix

Span: FY ending May 2024 → FY ending Feb 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 23,667 | 100.0% | S100Y6WM |
| Cost of revenue | 9,499 | 40.1% | S100Y6WM |
| Gross profit | 14,169 | 59.9% | S100Y6WM |
| SG&A | 12,593 | 53.2% | S100Y6WM |
| Operating income | 1,575 | 6.7% | S100Y6WM |
| Ordinary income | 1,597 | 6.7% | S100Y6WM |
| Pretax income | 1,449 | 6.1% | S100Y6WM |
| Income tax | 442 | 1.9% | S100Y6WM |
| Net income | 1,007 | 4.3% | S100Y6WM |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 40 |
| SG&A | 53 |
| Operating income | 7 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 59.9% → Operating margin 6.7% → Net margin 4.3%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 17,388 | 23,667 | 6,279 | +36.1% |
| Gross profit | 10,673 | 14,169 | 3,496 | +32.8% |
| Operating income | 1,052 | 1,575 | 523 | +49.7% |
| Operating cash flow | 616 | 2,082 | 1,465 | +237.7% |
| Free cash flow | -401 | 1,123 | 1,524 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2024 | 21,360 | 1,709 | 8.0% | 1,074 | 2,375 | 861 | S100VUZ0 |
| FY ending Feb 2025 | 17,388 | 1,052 | 6.1% | 582 | 616 | -401 | S100Y6WM |
| FY ending Feb 2026 | 23,667 | 1,575 | 6.7% | 1,007 | 2,082 | 1,123 | S100Y6WM |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥46M |
| Operating income per employee (consolidated) | ¥3.1M |
| 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 May 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: |
| Employees (consolidated) | 491 | 511 | 514 |
| Average salary (parent company) | — | ¥5.2M | ¥5.2M |
| Average age (parent company) | — | 43.7 years | 44.3 years |
| Average tenure (parent company) | — | 10.5 years | 10.9 years |

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,082 | 8.8% | S100Y6WM |
| Capital expenditure | 959 | 4.1% | S100Y6WM |
| Free cash flow | 1,123 | 4.7% | 算出 |
| Investing cash flow | -1,278 | -5.4% | S100Y6WM |
| Financing cash flow | -366 | -1.5% | S100Y6WM |
| Dividends paid | 150 | 0.6% | S100Y6WM |
| Change in cash | 438 | 1.8% | S100Y6WM |
| Cash and equivalents | 4,441 | 18.8% | S100Y6WM |

## 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 May 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: |
| Cash and equivalents | 6,178 | 4,003 | 4,441 | S100Y6WM |
| Total assets | 12,843 | 10,799 | 12,161 | S100VUZ0, S100Y6WM |
| Net assets | 9,309 | 7,870 | 8,775 | S100Y6WM |
| Share capital | 100 | 100 | 100 | S100VUZ0, S100Y6WM |
| Property, plant and equipment | 2,619 | 2,723 | 2,984 | S100VUZ0, S100Y6WM |
| Intangible assets excluding goodwill | 354 | 598 | 584 | S100VUZ0, S100Y6WM |
| Investment securities | 20 | 20 | 20 | S100VUZ0, S100Y6WM |
| Current assets | 8,076 | 5,743 | 6,450 | S100VUZ0, S100Y6WM |
| Current liabilities | 3,032 | 2,551 | 3,003 | S100VUZ0, S100Y6WM |
| Short-term borrowings | 198 | 480 | 240 | S100VUZ0, S100Y6WM |
| Total liabilities | 3,533 | 2,929 | 3,386 | S100VUZ0, S100Y6WM |
| Equity attributable to owners of parent | 9,281 | 7,842 | 8,746 | S100VUZ0, S100Y6WM |
| Retained earnings | 9,379 | 9,797 | 10,654 | S100VUZ0, S100Y6WM |
| Treasury stock | -676 | -2,546 | -2,503 | S100VUZ0, S100Y6WM |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 36% | S100Y6WM |
| Property, plant and equipment | 25% | S100Y6WM |
| Intangibles and goodwill | 5% | S100Y6WM |
| Investment securities | 0% | S100Y6WM |
| Other assets | 34% | S100Y6WM |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 28% | S100Y6WM |
| Equity | 72% | S100Y6WM |

### Balance sheet history

| Metric | FY ending May 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: |
| Total assets | 12,843 | 10,799 | 12,161 |
| Equity | 9,309 | 7,870 | 8,775 |
| Interest-bearing debt | — | — | — |
| Cash | 6,178 | 4,003 | 4,441 |

## 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) | 12.6% | S100Y6WM |
| Fixed assets ÷ total assets | 24.5% | S100Y6WM |
| Goodwill ÷ parent equity | — | —, S100Y6WM |

### 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) | 36.5% |
| Cash ÷ revenue | 18.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 132.1% |
| Cash vs. profit gap | 1,075 JPY mn (of net income 106.7%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 14.9% |
| Shareholder payments — dividends / FCF | 13.3% |
| CapEx intensity (capex ÷ revenue) | 4.1% |
| Investing CF relative to operating CF | 61.4% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2024 | 5.0% | 1.66× | 8.4% | 1.38× | 11.6% | S100VUZ0 |
| 2025 | 3.3% | 1.47× | 4.9% | 1.38× | 6.8% | S100Y6WM |
| 2026 | 4.3% | 2.06× | 8.8% | 1.38× | 12.1% | S100Y6WM |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社オール・エム | Major shareholder | 31.3% | 2026-02-28 |
| 堀地 かなえ | Major shareholder | 22.4% | 2026-02-28 |
| 堀地 元 | Major shareholder | 2.1% | 2026-02-28 |
| 堀地 篤人 | Major shareholder | 1.2% | 2026-02-28 |
| 銚子丸社員持株会 | Major shareholder | 1.1% | 2026-02-28 |
| BNP PARIBAS NEW YORK BRANCH - PRIME BROKERAGE CLEARANCE ACCOUNT (常任代理人 香港上海銀行東京支店) | Major shareholder | 0.4% | 2026-02-28 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 0.2% | 2026-02-28 |
| 石田 満 | Major shareholder | 0.2% | 2026-02-28 |
| 阿部 豊一 | Major shareholder | 0.2% | 2026-02-28 |
| BARCLAYS CAPITAL SECURITIES LIMITED (常任代理人 バークレイズ証券株式会社) | Major shareholder | 0.1% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第49期(2025/03/01－2026/02/28) | S100Y6WM | 2026-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y6WM,, |
| 有価証券報告書－第48期(2024/05/16－2025/02/28) | S100VUZ0 | 2025-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VUZ0,, |

## 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).