SRS Holdings agreed on 7 August to acquire all shares of Kyotaru, the takeaway and conveyor-belt sushi operator, from FOOD & LIFE COMPANIES for JPY 3,745m.
Why SRS Holdings Co., Ltd. is buying Kyotaru Co., Ltd.
SRS said the deal advances its aim of becoming the dominant gourmet sushi chain and fills a gap in its store network in the Tokyo metropolitan area. Kyotaru's station and shopping-centre sites do not overlap with SRS's mainly roadside outlets, and its factory will also produce for the Washoku Sato chain.
Deal terms and financing
F&LC will receive JPY 3,745m for 202 shares, after subscribing JPY 6.48bn of new shares in Kyotaru on 18 August to eliminate its negative equity and repay loans from F&LC.
Regulatory approvals and timing
The agreement was signed on 7 August, with the share transfer scheduled for 1 September 2026.
Market context
Sushiro Global Holdings, now FOOD & LIFE COMPANIES, bought Kyotaru from Yoshinoya Holdings in April 2021. F&LC said it would concentrate resources on its Sushiro business in Japan and abroad.
