Sushiro Parent Sells Takeout Sushi Unit Kyobashi to SRS Holdings for ¥3.745 Billion

Food & Life Companies announced on the 7th that it will transfer its subsidiary operating the takeout sushi specialty chain Kyobashi to SRS Holdings, which runs the Japanese restaurant chain Washoku Sato, for ¥3.745 billion. The company said the move is intended to concentrate management resources on its Sushiro business.

Kyobashi was founded in 1932 in Kawaramachi, Kyoto, as a kaiseki restaurant, and opened the ryotei Kyobashi in Ningyocho, Nihonbashi, Tokyo, in 1938. After the war, it opened its first takeout store in Ueno, Tokyo, in 1952, gradually building its prepared-food business around signature products such as chakin sushi. In 1984, Kyobashi was listed on the First Section of the Tokyo Stock Exchange.

Owing to excessive real estate investment during the bubble economy and intensifying competition in its core business, Kyobashi filed for corporate rehabilitation in 1997. Shortly afterward, to advance its reconstruction, the company launched revolving sushi restaurants under the name Kaisen Misaki Port as a new business pillar. After Yoshinoya Holdings joined its management, it acquired Kyobashi as a wholly owned subsidiary in 2011. However, as store traffic declined under the impact of the COVID-19 pandemic, Kyobashi was acquired by Food & Life Companies in 2021.