# create restaurants holdings inc.: business model and financials

> Latest period: FY ending Feb 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第29期(2025/03/01－2026/02/28) (S100Y2PC)
> Page: https://vizora.meequs.com/en/company/create-restaurants-holdings
> Retrieved: 2026-09-30T22:33:32.735Z

## Company

create restaurants holdings, founded in 1997, is a company in Restaurants & Pubs listed on TSE Prime. It has 4,468 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | create restaurants holdings inc. |
| Ticker | 3387 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3387.T) |
| Listing | TSE Prime |
| Head office | 東京都品川区東五反田五丁目10番18号 |
| Representative (per filing) | 代表取締役社長 川井潤 |
| Founded | Apr 1997 |
| Share capital | ¥50M |
| Employees (consolidated) | 4,468 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | February |
| Website | www.createrestaurants.com (https://www.createrestaurants.com/) |
| Corporate number | 9010701025939 |
| EDINET | E05517 |
| Industries (Vizora) | Restaurants & Pubs |

> Profile source: annual securities report (S100Y2PC, filed 2026-05-26). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 61.4 | 66 |
| Cash conversion | 86.4 | 55 |
| Efficiency | 20.5 | 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)

- create restaurants holdings brought in ¥165.4B in revenue.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +5.8% from the prior year, operating profit -6.6%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥165449000000 → ¥5218000000
- Net income → operating cash flow: ¥5218000000 → ¥23002000000（difference ¥17784000000）
- Main uses of operating cash flow: CapEx ¥4783000000 / dividends ¥1788000000 / buybacks —
- Change in cash: ¥-3976000000
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 | ¥165.4B |  |
| Operating income | ¥7.94B | Margin 4.8% |
| Net income | ¥4.68B | Margin 2.8% |
| Free cash flow | ¥18.2B |  |
| Employees (consolidated) | 4,468 |  |
| EPS | ¥11.11 |  |
| Diluted EPS | ¥11.11 |  |
| Book value per share | ¥83.47 |  |
| Equity ratio | 31.3% | Derived from disclosed figures |
| Shares outstanding | 425,628,568 |  |
| Treasury shares | 1,187,600 |  |
| Shareholders | 273,235 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |
| Cash ratio | 12.5% | Cash ÷ revenue 10.6% |
| Vs. industry median margin | +0.9 pp | Restaurants & Pubs |
| ROE | 11.1% | Derived from disclosed figures |
| ROA | 3.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 4.9× net income
- FY2026, revenue is 2.1× its level five years ago

## What changed in 6 years

| Metric | FY ending Feb 2020 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥139328000000 | ¥165449000000 | +18.7% |
| Operating income | ¥3378000000 | ¥7944000000 | +135.2% |
| Operating margin | 2.4% | 4.8% | +2.4 pp |
| Cash and equivalents | ¥17918000000 | ¥17497000000 | -2.3% |

### Change in segment revenue mix

Span: FY ending Feb 2020 → 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, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 165,449 | 100.0% | S100Y2PC |
| Cost of revenue | 48,689 | 29.4% | S100Y2PC |
| Gross profit | 116,760 | 70.6% | S100Y2PC |
| SG&A | 107,255 | 64.8% | S100Y2PC |
| Operating income | 7,944 | 4.8% | S100Y2PC |
| Pretax income | 7,861 | 4.8% | S100Y2PC |
| Income tax | 2,643 | 1.6% | S100Y2PC |
| Net income | 5,218 | 3.2% | S100Y2PC |
| Net income attributable to owners | 4,677 | 2.8% | S100Y2PC |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 29 |
| SG&A | 65 |
| Other operating | 1 |
| Operating income | 5 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 70.6% → Operating margin 4.8% → Net margin 2.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +5.8%; Core profit growth: -6.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -1.13×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 156,354 | 165,449 | 9,095 | +5.8% |
| Gross profit | 111,352 | 116,760 | 5,408 | +4.9% |
| Operating income | 8,504 | 7,944 | -560 | -6.6% |
| Net income attributable to owners | 5,590 | 4,677 | -913 | -16.3% |
| Operating cash flow | 25,991 | 23,002 | -2,989 | -11.5% |
| Free cash flow | 22,522 | 18,219 | -4,303 | -19.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2018 | 116,522 | — | — | 2,743 | 11,912 | — | S100P9H3 |
| FY ending Feb 2019 | 119,281 | — | — | 1,321 | 8,364 | — | S100SO5K |
| FY ending Feb 2020 | 139,328 | 3,378 | 2.4% | 1,205 | 24,818 | 21,020 | S100LF1I |
| FY ending Feb 2022 | 78,324 | — | — | 5,919 | 27,109 | — | S100Y2PC |
| FY ending Feb 2023 | 118,240 | 5,083 | 4.3% | 3,385 | 24,593 | 22,780 | S100TFVY |
| FY ending Feb 2024 | 145,759 | 7,075 | 4.9% | 5,041 | 23,292 | 19,868 | S100VUNR |
| FY ending Feb 2025 | 156,354 | 8,504 | 5.4% | 5,590 | 25,991 | 22,522 | S100Y2PC |
| FY ending Feb 2026 | 165,449 | 7,944 | 4.8% | 4,677 | 23,002 | 18,219 | S100Y2PC |

## People and productivity（FY ending Feb 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37M |
| Operating income per employee (consolidated) | ¥1.8M |
| Net income per employee (consolidated) | ¥1M |

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

| History | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | — | 4,034 | 4,205 | 4,173 | 4,468 |
| Average salary (parent company) | — | ¥6.6M | ¥6.6M | ¥6.7M | ¥6.8M |
| Average age (parent company) | — | 45.8 years | 47.8 years | 48.0 years | 48.5 years |
| Average tenure (parent company) | — | 9.9 years | 12.2 years | 13.6 years | 14.2 years |

Year over year: Employees (consolidated) +7.1% · Revenue (consolidated) +5.8%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Feb 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 23,002 | 13.9% | S100Y2PC |
| Capital expenditure | 4,783 | 2.9% | S100Y2PC |
| Free cash flow | 18,219 | 11.0% | 算出 |
| Investing cash flow | -5,822 | -3.5% | S100Y2PC |
| Financing cash flow | -21,340 | -12.9% | S100Y2PC |
| Dividends paid | 1,788 | 1.1% | S100Y2PC |
| Change in cash | -3,976 | -2.4% | S100Y2PC |
| Cash and equivalents | 17,497 | 10.6% | S100Y2PC |

## 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 21,502 | 23,895 | 21,305 | 21,474 | 17,497 | S100Y2PC, S100VUNR |
| Total assets | 133,605 | 133,555 | 130,816 | 137,168 | 139,669 | S100Y2PC, S100TFVY, S100VUNR |
| Net assets | — | 34,443 | 39,371 | 43,989 | 47,888 | S100VUNR, S100Y2PC |
| Share capital | — | 50 | 50 | 50 | 50 | S100TFVY, S100VUNR, S100Y2PC |
| Property, plant and equipment | — | 57,584 | 56,619 | 59,199 | 63,438 | S100TFVY, S100VUNR, S100Y2PC |
| Goodwill | — | 23,688 | 23,726 | 26,544 | 25,755 | S100TFVY, S100VUNR, S100Y2PC |
| Current assets | — | 32,266 | 31,340 | 30,625 | 27,340 | S100TFVY, S100VUNR, S100Y2PC |
| Total liabilities | — | 99,112 | 91,444 | 93,179 | 91,781 | S100TFVY, S100VUNR, S100Y2PC |
| Equity attributable to owners of parent | — | 29,606 | 35,969 | 40,167 | 43,769 | S100TFVY, S100VUNR, S100Y2PC |
| Retained earnings | — | 6,509 | 10,193 | 14,229 | 17,129 | S100TFVY, S100VUNR, S100Y2PC |
| Treasury stock | — | -1,217 | -1,178 | -1,122 | -1,071 | S100TFVY, S100VUNR, S100Y2PC |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100Y2PC |
| Property, plant and equipment | 45% | S100Y2PC |
| Intangibles and goodwill | 18% | — |
| Other assets | 24% | S100Y2PC |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 66% | S100Y2PC |
| Equity | 34% | S100Y2PC |

### Balance sheet history

| Metric | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 133,605 | 133,555 | 130,816 | 137,168 | 139,669 |
| Equity | — | 34,443 | 39,371 | 43,989 | 47,888 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 21,502 | 23,895 | 21,305 | 21,474 | 17,497 |

## 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) | 38.3% | S100Y2PC |
| Fixed assets ÷ total assets | 45.4% | S100Y2PC |
| Goodwill ÷ parent equity | 58.8% | S100Y2PC |

### 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) | 12.5% |
| Cash ÷ revenue | 10.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 289.6% |
| Cash vs. profit gap | 18,325 JPY mn (of net income 391.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 38.2% |
| Shareholder payments — dividends / FCF | 9.8% |
| CapEx intensity (capex ÷ revenue) | 2.9% |
| Investing CF relative to operating CF | 25.3% |

## 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 | — | —× | 4.4% | —× | — | S100Y2PC |
| 2023 | 2.9% | 0.89× | 2.5% | 4.51× | 11.4% | S100TFVY |
| 2024 | 3.5% | 1.10× | 3.8% | 4.03× | 15.4% | S100VUNR |
| 2025 | 3.6% | 1.17× | 4.2% | 3.52× | 14.7% | S100Y2PC |
| 2026 | 2.8% | 1.20× | 3.4% | 3.30× | 11.1% | S100Y2PC |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Ｇ＆Ｃｏｍｐａｎｙ | Major shareholder | 41.2% | 2026-02-28 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 5.9% | 2026-02-28 |
| 株式会社ユリッサ | Major shareholder | 1.4% | 2026-02-28 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.3% | 2026-02-28 |
| 岡本 晴彦 | Major shareholder | 0.7% | 2026-02-28 |
| 川井 潤 | Major shareholder | 0.6% | 2026-02-28 |
| 株式会社日本カストディ銀行（信託口４） | Major shareholder | 0.3% | 2026-02-28 |
| 株式会社ＪＫ Ｐｌａｎｎｉｎｇ | Major shareholder | 0.2% | 2026-02-28 |
| クリエイト・レストランツグループ従業員持株会 | Major shareholder | 0.2% | 2026-02-28 |
| 石井 克二 | Major shareholder | 0.2% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第29期(2025/03/01－2026/02/28) | S100Y2PC | 2026-05-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y2PC,, |
| 有価証券報告書－第28期(2024/03/01－2025/02/28) | S100VUNR | 2025-05-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VUNR,, |
| 有価証券報告書－第27期(2023/03/01－2024/02/29) | S100TFVY | 2024-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TFVY,, |
| 訂正有価証券報告書－第26期(2022/03/01－2023/02/28) | S100SO5K | 2024-01-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SO5K,, |
| 訂正有価証券報告書－第25期(令和3年3月1日－令和4年2月28日) | S100P9H3 | 2022-10-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P9H3,, |
| 有価証券報告書－第24期(令和2年3月1日－令和3年2月28日) | S100LF1I | 2021-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LF1I,, |

## 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).