Nishimatsuya Chain×Pigeon
Different ways of making money, on the same scale.
Same yardstick
| Metric | Nishimatsuya ChainFY ending Feb 2026 | PigeonFY ending Dec 2025 |
|---|---|---|
| Revenue | ¥193.4B | ¥109.2B |
| COGS ratio | 66.5% | 49.8% |
| Operating margin | 5.1% | 12.1% |
| Net margin | 3.5% | 7.9% |
| FCF margin | 4.2% | 9.1% |
Highlighted = best value for that metric
Money flows side by side
Chart height is proportional to revenue.
Nishimatsuya Chain¥193.4B · keeps ¥5 per ¥100
Pigeon¥109.2B · keeps ¥12 per ¥100
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