# GLOBAL-DINING,INC.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第53期(2025/01/01－2025/12/31) (S100XTRA)
> Page: https://vizora.meequs.com/en/company/global-dining
> Retrieved: 2026-09-30T19:42:00.532Z

## Company

Global-Dining, founded in 1973, is a company in Restaurants & Pubs listed on TSE Standard. It has 179 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GLOBAL-DINING, INC. |
| Ticker | 7625 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7625.T) |
| Listing | TSE Standard |
| Head office | 東京都港区南青山七丁目1番5号 |
| Representative (per filing) | 代表取締役社長 長谷川 耕造 |
| Founded | Oct 1973 |
| Share capital | ¥49.1M |
| Employees (consolidated) | 179 |
| Average salary (parent only) | ¥6.9M |
| Fiscal year end | December |
| Website | www.global-dining.com (https://www.global-dining.com/) |
| Corporate number | 6010401005715 |
| EDINET | E03327 |
| Industries (Vizora) | Restaurants & Pubs |

> Profile source: annual securities report (S100XTRA, filed 2026-03-26). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 81.3 | 56 |
| Profitability | 62.9 | 66 |
| Cash conversion | 73.6 | 55 |
| Efficiency | 32.6 | 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)

- Global-Dining brought in ¥13.7B in revenue.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +15.9% from the prior year, operating profit -8.6%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥13660201000 → ¥307898000
- Net income → operating cash flow: ¥307898000 → ¥1352861000（difference ¥1044963000）
- Main uses of operating cash flow: CapEx ¥1071606000 / dividends — / buybacks ¥6000
- Change in cash: ¥100325000
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 | ¥13.7B |  |
| Operating income | ¥688.1M | Margin 5.0% |
| Net income | ¥307.9M | Margin 2.3% |
| Free cash flow | ¥281.3M |  |
| Employees (consolidated) | 179 |  |
| EPS | ¥37.88 |  |
| Diluted EPS | ¥37.64 |  |
| Book value per share | ¥481.73 |  |
| Equity ratio | 50.2% |  |
| Shares outstanding | 10,421,300 |  |
| Treasury shares | 700 |  |
| Shareholders | 2,916 |  |
| Average salary (parent only) | ¥6.9M | Filing company only |
| Cash ratio | 8.0% | Cash ÷ revenue 6.5% |
| Vs. industry median margin | +1.1 pp | Restaurants & Pubs |
| ROE | 6.2% | Derived from disclosed figures |
| ROA | 2.9% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 4.4× net income

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5667513000 | ¥13660201000 | +141.0% |
| Operating income | ¥-1175578000 | ¥688070000 | — |
| Operating margin | -20.7% | 5.0% | +25.8 pp |
| Employees | 185 people | 179 people | -3.2% |
| Cash and equivalents | ¥321357000 | ¥889238000 | +176.7% |

### Change in segment revenue mix

Span: FY ending Dec 2020 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 13,660 | 100.0% | S100XTRA |
| Cost of revenue | 11,640 | 85.2% | S100XTRA |
| Gross profit | 2,021 | 14.8% | S100XTRA |
| SG&A | 1,332 | 9.8% | S100XTRA |
| Operating income | 688 | 5.0% | S100XTRA |
| Ordinary income | 660 | 4.8% | S100XTRA |
| Pretax income | 580 | 4.2% | S100XTRA |
| Income tax | 272 | 2.0% | S100XTRA |
| Net income | 308 | 2.3% | S100XTRA |
| Net income attributable to owners | 308 | 2.3% | S100XTRA |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 85 |
| SG&A | 10 |
| Operating income | 5 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 14.8% → Operating margin 5.0% → Net margin 2.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +15.9%; Core profit growth: -8.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.54×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 11,789 | 13,660 | 1,872 | +15.9% |
| Gross profit | 1,910 | 2,021 | 111 | +5.8% |
| Operating income | 753 | 688 | -65 | -8.6% |
| Net income attributable to owners | 515 | 308 | -207 | -40.2% |
| Operating cash flow | 643 | 1,353 | 710 | +110.3% |
| Free cash flow | -1,040 | 281 | 1,322 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 9,611 | 40 | 0.4% | -331 | 212 | 107 | S100L273 |
| FY ending Dec 2020 | 5,668 | -1,176 | -20.7% | -1,509 | -305 | -389 | S100NQYL |
| FY ending Dec 2021 | 9,573 | 727 | 7.6% | 1,046 | 1,417 | 1,103 | S100QGG5 |
| FY ending Dec 2022 | 9,558 | 225 | 2.4% | 222 | -52 | -321 | S100T3UB |
| FY ending Dec 2023 | 11,091 | 733 | 6.6% | 847 | 816 | 153 | S100VG34 |
| FY ending Dec 2024 | 11,789 | 753 | 6.4% | 515 | 643 | -1,040 | S100XTRA |
| FY ending Dec 2025 | 13,660 | 688 | 5.0% | 308 | 1,353 | 281 | S100XTRA |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥76.3M |
| Operating income per employee (consolidated) | ¥3.8M |
| Net income per employee (consolidated) | ¥1.7M |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 200 | 193 | 188 | 187 | 179 |
| Average salary (parent company) | ¥6M | ¥5.4M | ¥6.1M | ¥6.2M | ¥6.9M |
| Average age (parent company) | 34.1 years | 34.9 years | 35.9 years | 36.1 years | 36.3 years |
| Average tenure (parent company) | 5.9 years | 6.3 years | 6.8 years | 6.8 years | 7.1 years |

Year over year: Employees (consolidated) -4.3% · Revenue (consolidated) +15.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,353 | 9.9% | S100XTRA |
| Capital expenditure | 1,072 | 7.8% | S100XTRA |
| Free cash flow | 281 | 2.1% | 算出 |
| Investing cash flow | -1,108 | -8.1% | S100XTRA |
| Financing cash flow | -142 | -1.0% | S100XTRA |
| Share buyback | 0 | 0.0% | S100XTRA |
| Change in cash | 100 | 0.7% | S100XTRA |
| Cash and equivalents | 889 | 6.5% | S100XTRA |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,851 | 1,108 | 1,181 | 789 | 889 | S100T3UB, S100VG34, S100XTRA |
| Total assets | 7,685 | 7,239 | 8,561 | 10,235 | 11,166 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Net assets | 3,143 | 3,603 | 4,588 | 5,334 | 5,633 | S100T3UB, S100VG34, S100XTRA |
| Share capital | 42 | 43 | 45 | 47 | 49 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Trade receivables | 301 | — | — | — | — | S100NQYL |
| Property, plant and equipment | 4,131 | 4,215 | 5,046 | 7,052 | 7,848 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Intangible assets excluding goodwill | 1 | 1 | 13 | 10 | 7 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Current assets | 2,476 | 1,841 | 2,184 | 2,043 | 2,138 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Current liabilities | 2,230 | 1,777 | 1,593 | 1,834 | 2,201 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Trade payables | 288 | 296 | 353 | 368 | 402 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Short-term borrowings | 208 | — | — | — | 53 | S100QGG5, S100XTRA |
| Long-term borrowings | 1,580 | 1,177 | 1,325 | 1,931 | 1,771 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Total liabilities | 4,542 | 3,636 | 3,972 | 4,900 | 5,534 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Equity attributable to owners of parent | 3,243 | 3,455 | 4,307 | 4,825 | 5,138 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Retained earnings | 1,060 | 1,270 | 2,117 | 2,632 | 2,940 | S100QGG5, S100T3UB, S100VG34, S100XTRA |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100QGG5, S100T3UB, S100VG34, S100XTRA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100XTRA |
| Property, plant and equipment | 70% | S100XTRA |
| Intangibles and goodwill | 0% | S100XTRA |
| Other assets | 22% | S100XTRA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100XTRA |
| Other liabilities | 46% | S100XTRA |
| Equity | 50% | S100XTRA |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 7,685 | 7,239 | 8,561 | 10,235 | 11,166 |
| Equity | 3,143 | 3,603 | 4,588 | 5,334 | 5,633 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,851 | 1,108 | 1,181 | 789 | 889 |

## 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) | 57.5% | S100XTRA |
| Fixed assets ÷ total assets | 70.3% | S100XTRA |
| Goodwill ÷ parent equity | — | —, S100XTRA |

### 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) | 8.0% |
| Cash ÷ revenue | 6.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 196.6% |
| Cash vs. profit gap | 1,045 JPY mn (of net income 339.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 7.8% |
| Investing CF relative to operating CF | 81.9% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 10.9% | 1.25× | 13.6% | 2.37× | 32.3% | S100QGG5 |
| 2022 | 2.3% | 1.28× | 3.0% | 2.23× | 6.6% | S100T3UB |
| 2023 | 7.6% | 1.40× | 10.7% | 2.04× | 21.8% | S100VG34 |
| 2024 | 4.4% | 1.25× | 5.5% | 2.06× | 11.3% | S100XTRA |
| 2025 | 2.3% | 1.28× | 2.9% | 2.15× | 6.2% | S100XTRA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 長谷川 耕造 | Major shareholder | 59.1% | 2025-12-31 |
| 株式会社スペースラボ | Major shareholder | 7.6% | 2025-12-31 |
| ハセガワインターナショナル トレイドカンパニー（常任代理人 株式会社グローバルダイニング) | Major shareholder | 6.0% | 2025-12-31 |
| ヨシダ トモヒロ | Major shareholder | 3.0% | 2025-12-31 |
| 岡三証券株式会社 | Major shareholder | 1.7% | 2025-12-31 |
| 株式会社古舘篤臣綜合事務所 | Major shareholder | 1.1% | 2025-12-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.0% | 2025-12-31 |
| 内藤 征吾 | Major shareholder | 0.8% | 2025-12-31 |
| 赤木 一生 | Major shareholder | 0.8% | 2025-12-31 |
| 小林 庸麿 | Major shareholder | 0.6% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第53期(2025/01/01－2025/12/31) | S100XTRA | 2026-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XTRA,, |
| 有価証券報告書－第52期(2024/01/01－2024/12/31) | S100VG34 | 2025-03-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VG34,, |
| 有価証券報告書－第51期(2023/01/01－2023/12/31) | S100T3UB | 2024-03-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T3UB,, |
| 有価証券報告書－第50期(2022/01/01－2022/12/31) | S100QGG5 | 2023-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QGG5,, |
| 有価証券報告書－第49期(令和3年1月1日－令和3年12月31日) | S100NQYL | 2022-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NQYL,, |
| 有価証券報告書－第48期(令和2年1月1日－令和2年12月31日) | S100L273 | 2021-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L273,, |

## 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).