7554
KOURAKUEN CORPORATION
株式会社幸楽苑
Retail Trade
Kourakuen Corporation operates a chain of ramen restaurant under the Korakuen name in Japan and internationally. The company was formerly known as Kourakuen Holdings Corporation and changed its name to Kourakuen Corporation in October 2024. Kourakuen Corporation was founded in 1954 and is headquartered in Koriyama, Japan.
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Overview
Filings & Signals
Ownership
Financials
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Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥18.8B
¥26.8B
¥25.5B
¥25.0B
Cost of Sales
¥8.3B
¥7.8B
¥7.1B
¥7.0B
Gross Profit
¥10.5B
¥19.0B
¥18.4B
¥18.0B
SG&A
¥10.1B
¥18.9B
¥20.1B
¥20.0B
Operating Income
¥444M
¥33M
¥-1.7B
¥-2.0B
Non-Operating Income
¥173M
¥234M
¥618M
¥4.1B
Dividend Income
¥3M
¥4M
¥3M
¥3M
Interest Income
¥1M
¥1M
¥2M
¥11M
Non-Operating Expenses
¥203M
¥373M
¥460M
¥648M
Interest Expense
¥45M
¥85M
¥65M
¥77M
Ordinary Income
¥414M
¥-106M
¥-1.5B
¥1.5B
Pre-tax Income
¥888M
¥-5M
¥-2.1B
¥1.3B
Income Taxes
¥89M
¥-100M
¥756M
¥929M
Current Tax
¥75M
¥91M
¥45M
¥248M
Deferred Tax
¥14M
¥-191M
¥711M
¥681M
Net Income (owners)
¥800M
¥94M
¥-2.9B
¥374M
Comprehensive Income
—
¥181M
¥-2.8B
¥434M
EBITDA
¥1.2B
¥1.0B
¥-464M
¥-748M
Goodwill Amort. (J-GAAP)
—
¥5M
¥8M
¥8M
EPS
¥48.16
¥6.08
¥-189.97
¥24.87
Shares Outstanding
20.8M
16.0M
15.4M
15.4M
Shares Issued (total)
20.8M
17.4M
16.8M
16.8M
Treasury Shares
—
1.4M
1.4M
1.4M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥12.5B
¥10.5B
¥10.8B
¥14.1B
Current Assets
¥6.0B
¥3.3B
¥2.4B
¥3.2B
Cash & Deposits
¥4.7B
¥2.1B
¥1.3B
¥1.2B
Trade Receivables
¥681M
¥670M
¥551M
¥422M
Non-Current Assets
¥6.5B
¥7.1B
¥8.4B
¥11.0B
PP&E
¥4.7B
¥5.3B
¥6.4B
¥7.6B
Goodwill
—
—
¥5M
¥13M
Intangible Assets
¥104M
¥121M
¥140M
¥180M
Investment Securities
¥78M
¥75M
¥129M
¥149M
Deferred Tax Assets
¥350M
¥134M
—
¥676M
Total Liabilities
¥6.5B
¥8.8B
¥9.9B
¥10.5B
Current Liabilities
¥4.9B
¥6.1B
¥6.6B
¥5.6B
ST Debt
¥1.3B
¥2.6B
¥3.4B
¥2.1B
Taxes Payable
¥164M
¥109M
¥41M
¥268M
Non-Current Liabilities
¥1.6B
¥2.7B
¥3.4B
¥4.9B
Total LT Borrowings
¥108M
¥1.1B
¥1.4B
¥2.4B
Pension Obligations
—
¥122M
¥203M
¥283M
Deferred Tax Liab.
—
—
¥54M
—
Total Equity
¥6.0B
¥1.7B
¥865M
¥3.6B
Capital Stock
¥5.0B
¥3.3B
¥3.0B
¥3.0B
Capital Surplus
¥5.1B
¥3.4B
¥3.1B
¥3.1B
Retained Earnings
¥-1.7B
¥-2.8B
¥-2.9B
¥-27M
Treasury Stock
¥-2.4B
¥-2.4B
¥-2.4B
¥-2.4B
AOCI
¥12M
¥121M
¥34M
¥-44M
Equity (owners)
¥6.0B
¥1.6B
¥803M
¥3.7B
Total Interest-Bearing Debt ⓘ
¥1.4B
¥3.7B
¥4.7B
¥4.5B
Net Cash ⓘ
¥3.3B
¥-1.5B
¥-3.4B
¥-3.3B
NCAV ⓘ
¥-484M
¥-5.4B
¥-7.5B
¥-7.4B
NCAV/Share
¥-23
¥-338
¥-489
¥-479
BV/Share
¥286
¥98
¥52
¥237
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥2.0B
¥1.1B
¥283M
¥-203M
Interest Paid
¥-47M
¥-84M
¥-69M
¥-74M
Interest Received
¥4M
¥5M
¥4M
¥13M
D&A
¥760M
¥1.0B
¥1.2B
¥1.3B
Goodwill Amort.
—
¥5M
¥8M
¥8M
Investing CF
¥33M
¥417M
¥28M
¥-1.0B
CapEx
¥244M
¥400M
¥695M
¥1.0B
Proceeds from Invest.
—
¥66M
¥19M
—
Financing CF
¥924M
¥-675M
¥-205M
¥-510M
Share Buybacks
¥-1M
¥-0M
¥-0M
¥-0M
LT Debt Repaid
¥-1.4B
¥-1.1B
¥-1.1B
¥-1.0B
Free Cash Flow
¥1.7B
¥700M
¥-412M
¥-1.2B
Net Change in Cash
¥3.0B
¥842M
¥105M
¥-1.7B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
20.5%
7.4%
-128.7%
11.1%
ROA
7.0%
0.9%
-22.9%
2.6%
EPS
¥48.16
¥6.08
¥-189.97
¥24.87
BPS
¥312.28
¥108.02
¥55.58
¥239.78
FCF/Share
¥84
¥44
¥-27
¥-80
NCAV/Share
¥-23
¥-338
¥-489
¥-479
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2024-12-25
NIIDA TSUTAE
13.99%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 4
#
Shareholder
Shares (thou.)
% of Total
1
株式会社ラニケアコーポレーション
2,292
11.79%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
1,546
7.95%
3
ARIAKE JAPAN Co.,Ltd.
アリアケジャパン株式会社
450
2.32%
4
NITTO FUJI FLOUR MILLING CO.,LTD.
日東富士製粉株式会社
445
2.29%
5
The Toho Bank, Ltd.
株式会社東邦銀行
401
2.06%
6
アサヒビール株式会社
366
1.88%
7
Japan Custody Bank
株式会社日本カストディ銀行(信託E口)
328
1.69%
8
THE DAITO BANK, LTD.
株式会社大東銀行
266
1.37%
9
株式会社NNアセットマネジメント
196
1.01%
10
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
162
0.83%
Domestic Nominees
10.5%
+1.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-1.9% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
22.7%
-4.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社ラニケアコーポレーション
14.90%
14.28%
11.79%
-2.49%
Japan Master Trust Bank
日本マスタートラスト信託銀行
8.35%
6.83%
7.95%
+1.12%
Japan Custody Bank
日本カストディ銀行
3.04%
2.05%
2.52%
+0.47%
ARIAKE JAPAN Co.,Ltd.
アリアケジャパン
1.01%
2.81%
2.32%
-0.49%
NITTO FUJI FLOUR MILLING CO.,LTD.
日東富士製粉
2.89%
2.78%
2.29%
-0.49%
The Toho Bank, Ltd.
式会社東邦銀行
2.60%
2.50%
2.06%
-0.44%
アサヒビール
2.19%
2.28%
1.88%
-0.40%
THE DAITO BANK, LTD.
式会社大東銀行
1.73%
1.66%
1.37%
-0.29%
式会社NNアセットマネジメント
—
1.22%
1.01%
-0.21%
JP Morgan
last seen 2024
Exited Top 10
—
1.89%
—
岡田 甲子男
last seen 2023
Exited Top 10
0.84%
—
—
Concentration (HHI)
ⓘ
326
290
230
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥63M
+28% since 2023
Holdings
4
Trend
Stable
vs 2023
Held Company
FY2025
¥63M total
FY2023
¥49M total
Book Val ¥M
Shares
Book Val ¥M
Shares
ARIAKE JAPAN Co.,Ltd.
アリアケジャパン㈱
31
5,000
24
5,000
M
THE DAITO BANK, LTD.
㈱大東銀行
18
25,000
16
25,000
M
The Toho Bank, Ltd.
㈱東邦銀行
14
40,000
9
40,000
M
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
—
—
Portfolio total
63
49
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding