# saizeriya co.,ltd.: business model and financials

> Latest period: FY ending Aug 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第53期(2024/09/01－2025/08/31) (S100X5Z0)
> Page: https://vizora.meequs.com/en/company/saizeriya
> Retrieved: 2026-09-30T19:05:00.475Z

## Company

saizeriya, founded in 1973, is a company in Restaurants & Pubs listed on TSE Prime. It has 4,868 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SAIZERIYA CO.,LTD. |
| Ticker | 7581 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7581.T) |
| Listing | TSE Prime |
| Head office | 埼玉県吉川市旭2番地5 |
| Representative (per filing) | 代表取締役社長 松谷 秀治 |
| Founded | May 1973 |
| Share capital | ¥8.61B |
| Employees (consolidated) | 4,868 |
| Average salary (parent only) | ¥7M |
| Fiscal year end | August |
| Website | www.saizeriya.co.jp (https://www.saizeriya.co.jp/) |
| Corporate number | 8030001065552 |
| EDINET | E03305 |
| Industries (Vizora) | Restaurants & Pubs |

> Profile source: annual securities report (S100X5Z0, filed 2025-11-25). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 68.8 | 56 |
| Profitability | 72 | 66 |
| Cash conversion | 57.3 | 55 |
| Efficiency | 52.3 | 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 67% of saizeriya's sales come from Japan, with asia and Australia making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +14.3% from the prior year, operating profit +4.3%.

## Company structure

- Segment revenue mix: Japan 67.4%、asia 32.6%、Australia 0.0%
- Revenue → net income: ¥256714000000 → ¥11164000000
- Net income → operating cash flow: ¥11164000000 → ¥26280000000（difference ¥15116000000）
- Main uses of operating cash flow: CapEx ¥18615000000 / dividends ¥1242000000 / buybacks ¥942000000
- Change in cash: ¥-4796000000
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 | ¥256.7B |  |
| Operating income | ¥15.5B | Margin 6.0% |
| Net income | ¥11.2B | Margin 4.3% |
| Free cash flow | ¥7.67B |  |
| Largest business | Japan | of segment revenue 67.4% |
| Employees (consolidated) | 4,868 |  |
| EPS | ¥150.71 |  |
| Diluted EPS | ¥149.91 |  |
| Book value per share | ¥1687.8 |  |
| Equity ratio | 65.0% |  |
| Shares outstanding | 52,272,000 |  |
| Treasury shares | 2,586,700 |  |
| Shareholders | 41,091 |  |
| Average salary (parent only) | ¥7M | Filing company only |
| Cash ratio | 37.4% | Cash ÷ revenue 26.2% |
| Vs. industry median margin | +2.1 pp | Restaurants & Pubs |
| ROE | 10.9% | Derived from disclosed figures |
| ROA | 6.4% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 2.4× net income
- FY2025, revenue is 2.0× its level five years ago
- FY2025, one segment accounts for 65% of positive segment profit

## What changed in 5 years

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥126842000000 | ¥256714000000 | +102.4% |
| Operating income | ¥-3815000000 | ¥15499000000 | — |
| Operating margin | -3.0% | 6.0% | +9 pp |
| Employees | 4,164 people | 4,868 people | +16.9% |
| Cash and equivalents | ¥42320000000 | ¥67152000000 | +58.7% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 日本 → 日本 | 67.4% |
| 日本 → 事業再編・廃止 | 7.8% |
| 豪州 → 豪州 | 0.0% |
| 豪州 → 事業再編・廃止 | 0.1% |
| アジア → アジア | 24.8% |
| 新設・再編 → アジア | 7.9% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +12.7% | ¥172908000000 | 2.9% | 2 |
| asia | 5 years | +21.7% | ¥83802000000 | 12.1% | 2 |
| Australia | 5 years | -57.8% | ¥2000000 | 16250.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 256,714 | 100.0% | S100X5Z0 |
| Cost of revenue | 107,631 | 41.9% | S100X5Z0 |
| Gross profit | 149,082 | 58.1% | S100X5Z0 |
| SG&A | 133,583 | 52.0% | S100X5Z0 |
| Operating income | 15,499 | 6.0% | S100X5Z0 |
| Ordinary income | 15,805 | 6.2% | S100X5Z0 |
| Pretax income | 15,628 | 6.1% | S100X5Z0 |
| Income tax | 4,463 | 1.7% | S100X5Z0 |
| Net income | 11,164 | 4.3% | S100X5Z0 |
| Net income attributable to owners | 11,164 | 4.3% | S100X5Z0 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 42 |
| SG&A | 52 |
| Operating income | 6 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 58.1% → Operating margin 6.0% → Net margin 4.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +14.3%; Core profit growth: +4.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.30×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 224,542 | 256,714 | 32,172 | +14.3% |
| Gross profit | 132,084 | 149,082 | 16,998 | +12.9% |
| Operating income | 14,863 | 15,499 | 636 | +4.3% |
| Net income attributable to owners | 8,149 | 11,164 | 3,015 | +37.0% |
| Operating cash flow | 24,124 | 26,280 | 2,156 | +8.9% |
| Free cash flow | 15,412 | 7,665 | -7,747 | -50.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2019 | 156,527 | 9,599 | 6.1% | 4,980 | 14,705 | 9,103 | S100K938 |
| FY ending Aug 2020 | 126,842 | -3,815 | -3.0% | -3,450 | 525 | -5,209 | S100MXPX |
| FY ending Aug 2021 | 126,513 | -2,264 | -1.8% | 1,765 | 12,187 | 4,006 | S100PPJX |
| FY ending Aug 2022 | 144,275 | 422 | 0.3% | 5,660 | 21,841 | 17,044 | S100SCWN |
| FY ending Aug 2023 | 183,244 | 7,222 | 3.9% | 5,154 | 20,799 | 15,314 | S100WHC1 |
| FY ending Aug 2024 | 224,542 | 14,863 | 6.6% | 8,149 | 24,124 | 15,412 | S100X5Z0 |
| FY ending Aug 2025 | 256,714 | 15,499 | 6.0% | 11,164 | 26,280 | 7,665 | S100X5Z0 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥52.7M |
| Operating income per employee (consolidated) | ¥3.2M |
| Net income per employee (consolidated) | ¥2.3M |

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

| History | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 4,134 | 3,939 | 3,980 | 4,504 | 4,868 |
| Average salary (parent company) | ¥5.5M | ¥6.2M | ¥6.6M | ¥6.9M | ¥7M |
| Average age (parent company) | 38.0 years | 39.0 years | 40.0 years | 40.0 years | 40.0 years |
| Average tenure (parent company) | 13.0 years | 14.0 years | 14.0 years | 15.0 years | 14.0 years |

Year over year: Employees (consolidated) +8.1% · Revenue (consolidated) +14.3%

## Segments（FY ending Aug 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 172,908 | 67.4% | 5,033 | 2.9% |
| Australia | 2 | 0.0% | 325 | 16250.0% |
| asia | 83,802 | 32.6% | 10,132 | 12.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 67.4% | 32.5% | -34.9 | 2.9% |
| Australia | 0.0% | 2.1% | 2.1 | 16250.0% |
| asia | 32.6% | 65.4% | 32.8 | 12.1% |

Segment → industry: asia → Restaurants & Pubs / Australia → Restaurants & Pubs / Japan → Restaurants & Pubs

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 26,280 | 10.2% | S100X5Z0 |
| Capital expenditure | 18,615 | 7.3% | S100X5Z0 |
| Free cash flow | 7,665 | 3.0% | 算出 |
| Investing cash flow | -18,741 | -7.3% | S100X5Z0 |
| Financing cash flow | -10,052 | -3.9% | S100X5Z0 |
| Dividends paid | 1,242 | 0.5% | S100X5Z0 |
| Share buyback | 942 | 0.4% | S100X5Z0 |
| Change in cash | -4,796 | -1.9% | S100X5Z0 |
| Cash and equivalents | 67,152 | 26.2% | S100X5Z0 |

## 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 Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 52,730 | 60,275 | 67,855 | 71,949 | 67,152 | S100SCWN, S100WHC1, S100X5Z0 |
| Total assets | 138,045 | 147,930 | 155,121 | 168,136 | 179,446 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Net assets | 83,569 | 94,523 | 99,031 | 110,803 | 117,157 | S100SCWN, S100WHC1, S100X5Z0 |
| Share capital | 8,612 | 8,612 | 8,612 | 8,612 | 8,612 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Property, plant and equipment | 50,953 | 52,487 | 50,664 | 55,772 | 68,462 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Intangible assets excluding goodwill | 412 | 367 | 427 | 578 | 538 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Investment securities | 259 | 279 | 279 | — | — | S100PPJX, S100SCWN, S100WHC1 |
| Current assets | 70,042 | 78,935 | 87,654 | 98,158 | 96,465 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Current liabilities | 25,445 | 22,840 | 39,480 | 32,644 | 35,319 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Short-term borrowings | 10,000 | — | — | — | — | S100PPJX |
| Long-term borrowings | 12,500 | 12,500 | — | 6,000 | 6,000 | S100PPJX, S100SCWN, S100X5Z0 |
| Total liabilities | 54,475 | 53,407 | 56,090 | 57,332 | 62,289 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Equity attributable to owners of parent | 80,342 | 85,455 | 89,802 | 97,492 | 107,215 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Retained earnings | 68,343 | 73,114 | 77,377 | 84,811 | 94,733 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |
| Treasury stock | -7,414 | -7,143 | -7,388 | -7,590 | -8,062 | S100PPJX, S100SCWN, S100WHC1, S100X5Z0 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 38% | S100X5Z0 |
| Property, plant and equipment | 38% | S100X5Z0 |
| Intangibles and goodwill | 0% | S100X5Z0 |
| Other assets | 24% | S100X5Z0 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 35% | S100X5Z0 |
| Equity | 65% | S100X5Z0 |

### Balance sheet history

| Metric | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 138,045 | 147,930 | 155,121 | 168,136 | 179,446 |
| Equity | 83,569 | 94,523 | 99,031 | 110,803 | 117,157 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 52,730 | 60,275 | 67,855 | 71,949 | 67,152 |

## 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) | 26.7% | S100X5Z0 |
| Fixed assets ÷ total assets | 38.2% | S100X5Z0 |
| Goodwill ÷ parent equity | — | —, S100X5Z0 |

### 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) | 37.4% |
| Cash ÷ revenue | 26.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 169.6% |
| Cash vs. profit gap | 15,116 JPY mn (of net income 135.4%) |
| Shareholder returns / net income | 19.6% |
| Shareholder returns / FCF | 28.5% |
| Shareholder payments — dividends / net income | 11.1% |
| Shareholder payments — dividends / FCF | 16.2% |
| CapEx intensity (capex ÷ revenue) | 7.3% |
| Investing CF relative to operating CF | 71.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 1.4% | 0.92× | 1.3% | 1.72× | 2.2% | S100PPJX |
| 2022 | 3.9% | 1.01× | 4.0% | 1.72× | 6.8% | S100SCWN |
| 2023 | 2.8% | 1.21× | 3.4% | 1.73× | 5.9% | S100WHC1 |
| 2024 | 3.6% | 1.39× | 5.0% | 1.73× | 8.7% | S100X5Z0 |
| 2025 | 4.3% | 1.48× | 6.4% | 1.70× | 10.9% | S100X5Z0 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 正垣 泰彦 | Major shareholder | 28.4% | 2025-08-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 11.3% | 2025-08-31 |
| 株式会社バベット | Major shareholder | 8.7% | 2025-08-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 5.8% | 2025-08-31 |
| サイゼリヤ従業員持株会 | Major shareholder | 2.7% | 2025-08-31 |
| JPモルガン証券株式会社 | Major shareholder | 1.7% | 2025-08-31 |
| 株式会社日本カストディ銀行(信託E口) | Major shareholder | 1.2% | 2025-08-31 |
| MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB(常任代理人BOFA証券株式会社) | Major shareholder | 1.1% | 2025-08-31 |
| STATE STREET BANK WEST CLIENT-TREATY 505234Y(常任代理人株式会社みずほ銀行 決済営業部) | Major shareholder | 0.9% | 2025-08-31 |
| JP MORGAN CHASE BANK 385781(常任代理人株式会社みずほ銀行 決済営業部) | Major shareholder | 0.8% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第53期(2024/09/01－2025/08/31) | S100X5Z0 | 2025-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X5Z0,, |
| 訂正有価証券報告書－第52期(2023/09/01－2024/08/31) | S100WHC1 | 2025-08-08 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WHC1,, |
| 有価証券報告書－第51期(2022/09/01－2023/08/31) | S100SCWN | 2023-11-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SCWN,, |
| 有価証券報告書－第50期(令和3年9月1日－令和4年8月31日) | S100PPJX | 2022-11-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PPJX,, |
| 有価証券報告書－第49期(令和2年9月1日－令和3年8月31日) | S100MXPX | 2021-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MXPX,, |
| 有価証券報告書－第48期(令和1年9月1日－令和2年8月31日) | S100K938 | 2020-11-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100K938,, |

## 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).