# ICHIBANYA CO.,LTD.: business model and financials

> Latest period: FY ending Feb 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第44期(2025/03/01－2026/02/28) (S100Y73F)
> Page: https://vizora.meequs.com/en/company/ichibanya
> Retrieved: 2026-09-30T21:38:16.974Z

## Company

Ichibanya, founded in 1982, is a company in Fast Food & Quick Service listed on TSE Prime. It has 1,298 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ICHIBANYA CO.,LTD. |
| Ticker | 7630 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7630.T) |
| Listing | TSE Prime |
| Head office | 愛知県一宮市三ツ井六丁目12番23号 |
| Representative (per filing) | 代表取締役社長 葛原 守 |
| Founded | Jul 1982 |
| Share capital | ¥1.5B |
| Employees (consolidated) | 1,298 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | February |
| Corporate number | 4180001082132 |
| EDINET | E03329 |
| Industries (Vizora) | Fast Food & Quick Service |

> Profile source: annual securities report (S100Y73F, filed 2026-05-28). As of filing

## Five-axis industry profile

Primary industry: Fast Food & Quick Service (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 41.7 | 18 |
| Profitability | 70.5 | 22 |
| Cash conversion | 26.2 | 21 |
| Efficiency | 25 | 22 |

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)

- Ichibanya brought in ¥65.5B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +7.4% from the prior year, operating profit -4.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥65518000000 → ¥2612000000
- Net income → operating cash flow: ¥2612000000 → ¥5594000000（difference ¥2982000000）
- Main uses of operating cash flow: CapEx ¥3644000000 / dividends ¥2551000000 / buybacks —
- Change in cash: ¥-2215000000
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 | ¥65.5B |  |
| Operating income | ¥4.71B | Margin 7.2% |
| Net income | ¥2.56B | Margin 3.9% |
| Free cash flow | ¥1.95B |  |
| Employees (consolidated) | 1,298 |  |
| EPS | ¥17.26 |  |
| Book value per share | ¥192.94 |  |
| Equity ratio | 67.0% |  |
| Shares outstanding | 159,630,000 |  |
| Treasury shares | 24,600 |  |
| Shareholders | 150,004 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 27.1% | Cash ÷ revenue 19.9% |
| Vs. industry median margin | +1.7 pp | Fast Food & Quick Service |
| ROE | 8.3% | Derived from disclosed figures |
| ROA | 5.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.2× net income
- FY2026, cash is 27% of total assets

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥44246721000 | ¥65518000000 | +48.1% |
| Operating income | ¥2559034000 | ¥4715000000 | +84.2% |
| Operating margin | 5.8% | 7.2% | +1.4 pp |
| Employees | 1,238 people | 1,298 people | +4.8% |
| Cash and equivalents | ¥15511182000 | ¥13048000000 | -15.9% |

### Change in segment revenue mix

Span: FY ending Feb 2021 → 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, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 65,518 | 100.0% | S100Y73F |
| Cost of revenue | 32,953 | 50.3% | S100Y73F |
| Gross profit | 32,565 | 49.7% | S100Y73F |
| SG&A | 27,849 | 42.5% | S100Y73F |
| Operating income | 4,715 | 7.2% | S100Y73F |
| Ordinary income | 4,985 | 7.6% | S100Y73F |
| Pretax income | 3,945 | 6.0% | S100Y73F |
| Income tax | 1,333 | 2.0% | S100Y73F |
| Net income | 2,612 | 4.0% | S100Y73F |
| Net income attributable to owners | 2,562 | 3.9% | S100Y73F |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 50 |
| SG&A | 43 |
| Operating income | 7 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 49.7% → Operating margin 7.2% → Net margin 3.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +7.4%; Core profit growth: -4.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.58×
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 | 61,006 | 65,518 | 4,512 | +7.4% |
| Gross profit | 30,520 | 32,565 | 2,045 | +6.7% |
| Operating income | 4,925 | 4,715 | -210 | -4.3% |
| Net income attributable to owners | 3,171 | 2,562 | -609 | -19.2% |
| Operating cash flow | 5,318 | 5,594 | 276 | +5.2% |
| Free cash flow | 2,199 | 1,950 | -249 | -11.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 51,496 | 5,205 | 10.1% | 3,258 | 6,013 | 4,479 | S100LXW1 |
| FY ending Feb 2021 | 44,247 | 2,559 | 5.8% | 1,736 | 889 | -937 | S100PMF5 |
| FY ending Feb 2022 | 45,022 | 2,856 | 6.3% | 2,922 | 5,238 | 3,869 | S100QV0P |
| FY ending Feb 2023 | 48,287 | 3,614 | 7.5% | 2,539 | 3,959 | 2,562 | S100TITJ |
| FY ending Feb 2024 | 55,137 | 4,715 | 8.6% | 2,686 | 6,087 | 3,880 | S100VUL9 |
| FY ending Feb 2025 | 61,006 | 4,925 | 8.1% | 3,171 | 5,318 | 2,199 | S100Y73F |
| FY ending Feb 2026 | 65,518 | 4,715 | 7.2% | 2,562 | 5,594 | 1,950 | S100Y73F |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥50.5M |
| Operating income per employee (consolidated) | ¥3.6M |
| 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,205 | 1,169 | 1,175 | 1,235 | 1,298 |
| Average salary (parent company) | ¥5.3M | ¥5.5M | ¥5.8M | ¥6.1M | ¥6M |
| Average age (parent company) | 41.8 years | 42.5 years | 42.4 years | 42.0 years | 42.0 years |
| Average tenure (parent company) | 11.1 years | 12.1 years | 12.1 years | 12.1 years | 12.1 years |

Year over year: Employees (consolidated) +5.1% · Revenue (consolidated) +7.4%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 5,594 | 8.5% | S100Y73F |
| Capital expenditure | 3,644 | 5.6% | S100Y73F |
| Free cash flow | 1,950 | 3.0% | 算出 |
| Investing cash flow | -4,932 | -7.5% | S100Y73F |
| Financing cash flow | -2,934 | -4.5% | S100Y73F |
| Dividends paid | 2,551 | 3.9% | S100Y73F |
| Change in cash | -2,215 | -3.4% | S100Y73F |
| Cash and equivalents | 13,048 | 19.9% | S100Y73F |

## 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 | 17,421 | 17,678 | 15,707 | 15,264 | 13,048 | S100TITJ, S100VUL9, S100Y73F |
| Total assets | 42,467 | 42,433 | 44,268 | 46,585 | 48,171 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Net assets | 30,608 | 30,946 | 31,378 | 32,600 | 32,885 | S100TITJ, S100VUL9, S100Y73F |
| Share capital | 1,503 | 1,503 | 1,503 | 1,503 | 1,503 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Property, plant and equipment | 12,341 | 12,195 | 11,941 | 14,146 | 16,082 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Intangible assets excluding goodwill | 1,309 | 1,068 | 4,427 | 4,393 | 5,260 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Goodwill | 268 | 223 | 2,236 | 2,089 | 3,273 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Investment securities | 402 | 373 | 436 | 531 | 605 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Current assets | 22,368 | 22,982 | 21,542 | 21,438 | 19,945 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Current liabilities | 5,958 | 5,915 | 7,204 | 7,369 | 8,457 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Long-term borrowings | — | — | 64 | 65 | 173 | S100VUL9, S100Y73F |
| Total liabilities | 11,860 | 11,487 | 12,890 | 13,985 | 15,285 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Non-controlling interests | 322 | 374 | 458 | 547 | 592 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Equity attributable to owners of parent | 29,931 | 29,950 | 30,008 | 30,665 | 30,716 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Retained earnings | 27,105 | 27,090 | 27,223 | 27,842 | 27,850 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |
| Treasury stock | -65 | -33 | -109 | -72 | -25 | S100QV0P, S100TITJ, S100VUL9, S100Y73F |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 27% | S100Y73F |
| Property, plant and equipment | 33% | S100Y73F |
| Intangibles and goodwill | 18% | S100Y73F |
| Investment securities | 1% | S100Y73F |
| Other assets | 21% | S100Y73F |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 32% | S100Y73F |
| Equity | 68% | S100Y73F |
| Other liabilities | 0% | S100Y73F |

### 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 | 42,467 | 42,433 | 44,268 | 46,585 | 48,171 |
| Equity | 30,608 | 30,946 | 31,378 | 32,600 | 32,885 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 17,421 | 17,678 | 15,707 | 15,264 | 13,048 |

## 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) | 24.5% | S100Y73F |
| Fixed assets ÷ total assets | 33.4% | S100Y73F |
| Goodwill ÷ parent equity | 10.7% | S100Y73F |

Goodwill over 4 years: 268 → 3,273 JPY; total investing cash flow: -14,378 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) | 27.1% |
| Cash ÷ revenue | 19.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 118.6% |
| Cash vs. profit gap | 3,032 JPY mn (of net income 118.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 99.6% |
| Shareholder payments — dividends / FCF | 130.8% |
| CapEx intensity (capex ÷ revenue) | 5.6% |
| Investing CF relative to operating CF | 88.2% |

## 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 | 6.5% | 1.06× | 6.9% | 1.42× | 9.8% | S100QV0P |
| 2023 | 5.3% | 1.14× | 6.0% | 1.42× | 8.5% | S100TITJ |
| 2024 | 4.9% | 1.27× | 6.2% | 1.45× | 9.0% | S100VUL9 |
| 2025 | 5.2% | 1.34× | 7.0% | 1.50× | 10.5% | S100Y73F |
| 2026 | 3.9% | 1.38× | 5.4% | 1.54× | 8.3% | S100Y73F |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ハウス食品グループ本社株式会社 | Major shareholder | 51.0% | 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 | 5.3% | 2026-02-28 |
| 株式会社ベストライフ | Major shareholder | 3.3% | 2026-02-28 |
| 株式会社トーカン | Major shareholder | 2.2% | 2026-02-28 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.0% | 2026-02-28 |
| シーピー化成株式会社 | Major shareholder | 0.6% | 2026-02-28 |
| 浜島 俊哉 | Major shareholder | 0.4% | 2026-02-28 |
| ＨＳＢＣ－ＦＵＮＤ ＳＥＲＶＩＣＥＳＨＳＢＣ － ００６ ＭＦ ＥＦＭ (常任代理人 香港上海銀行東京支店セキュリティーズ・サービシズ・オペレーションズ部) | Major shareholder | 0.4% | 2026-02-28 |
| 壱番屋持株会 | Major shareholder | 0.4% | 2026-02-28 |
| ＩＳＨＡＲＥＳ ＣＯＲＥ ＭＳＣＩＥＡＦＥ ＥＴＦ (常任代理人 シティバンク、エヌ・エイ東京支店カストディ業務部) | Major shareholder | 0.4% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第44期(2025/03/01－2026/02/28) | S100Y73F | 2026-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y73F,, |
| 有価証券報告書－第43期(2024/03/01－2025/02/28) | S100VUL9 | 2025-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VUL9,, |
| 有価証券報告書－第42期(2023/03/01－2024/02/29) | S100TITJ | 2024-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TITJ,, |
| 有価証券報告書－第41期(2022/03/01－2023/02/28) | S100QV0P | 2023-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QV0P,, |
| 訂正有価証券報告書－第40期(令和3年3月1日－令和4年2月28日) | S100PMF5 | 2022-11-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PMF5,, |
| 訂正有価証券報告書－第39期(令和2年3月1日－令和3年2月28日) | S100LXW1 | 2021-07-07 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LXW1,, |

## 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).