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EDINET 3133 Negative Risk Analyzed 📈 Growth 1/10

kaihan co.,Ltd.

Semi-Annual Report - 24th Term(2026/04/01 - 2027/03/31) ／ 2026-11-13 17:14

Covers EDINET statutory filings (TDNET timely disclosures / earnings flashes are not included).

EarningsGoing ConcernRestructuringM&ANew MarketCapacity
AI Summary 2026-11-13 17:27

Revenue plummeted 50.9% YoY to ¥793M, with operating loss of ¥1,191M and net loss of ¥1,330M. Divestiture of 16 'Shinzidai' restaurants to Fazz Corporation severely contracted food business. Going concern doubt raised due to unpaid social insurance arrears.

KEY POINTS
  • Major food business contraction: Transfer of 16 Shinzidai brand stores resulted in 50.9% revenue decline
  • Going concern doubt: Unpaid social insurance ¥37.7M seized; overdue payables of ¥228M exist
  • Medical business underperformance: Speme Corp acquisition loss-making in early stage; revenue down 94.8% YoY
📊 Revenue
Revenue -50.9% (¥1,560M → ¥793M)
💰 Operating profit
Operating loss ¥1,191M (prior period ¥570M loss; loss amount nearly doubled)
🔮 Outlook
Not stated
📈 Growth outlook 📈 Growth 1/10
Growth prospects severely diminished by drastic food business contraction. Renewable energy shows minor revenue gain but remains loss-making. Medical business aims for diversification via acquisition but faces significant losses.
Growth drivers
  • Renewable energy revenue growth (+13.2% YoY), solar power generation sales commenced, Nepal hydropower expected to commission Jan-May 2027
  • Medical business expansion via Speme acquisition targeting medical aesthetics market diversification
Risk and growth scores and tags are AI-generated estimates from analyzing the disclosure. They are not guarantees of fact, nor investment advice or recommendations. Make investment decisions at your own discretion.
⚠️ Extracted Risk Factors
CategoryDescriptionScoreNew
Going Concern Risk Continuous operating losses since March 2019; consolidated losses since March 2023. Social insurance arrears of ¥37.7M seized; overdue payables exist. High risk of fund depletion. 10/10
Operating Performance Deterioration Risk Food business Shinzidai store divestiture caused 50.9% revenue collapse; medical business support client reduction led to 94.8% sales decline. Rapid business contraction ongoing. 9/10 NEW
Liquidity Risk Cash of ¥157M against total assets ¥5.3B and interest-bearing debt ¥2.6B; equity ratio 7.3%. Declining fundraising capacity; working capital shortage risk escalating. 9/10 NEW
Supply Chain Risk Nepal hydropower project suspended due to local unrest; currently reliant on local partner's funding. Schedule delays pose revenue generation risk. 7/10 NEW
Customer Concentration Risk Medical business Speme relies on Koun Kai clinic; prior Kaihan Medical also had high customer concentration. Loss of major client poses significant revenue risk. 7/10
M&A Risk Speme acquisition generated provisional goodwill of ¥515M pending asset/liability valuation completion. Risk of goodwill impairment. 6/10 NEW
Labor Risk Store divestiture reduced workforce by 48; recruitment difficulty and potential wage arrears driving turnover risk. 6/10 NEW
Regulatory Risk Social insurance arrears resulted in actual garnishment by Japan Pension Service; risk of labor authority sanctions. 6/10 NEW
10/10 Going Concern Risk
Continuous operating losses since March 2019; consolidated losses since March 2023. Social insurance arrears of ¥37.7M seized; overdue payables exist. High risk of fund depletion.
9/10 NEW Operating Performance Deterioration Risk
Food business Shinzidai store divestiture caused 50.9% revenue collapse; medical business support client reduction led to 94.8% sales decline. Rapid business contraction ongoing.
9/10 NEW Liquidity Risk
Cash of ¥157M against total assets ¥5.3B and interest-bearing debt ¥2.6B; equity ratio 7.3%. Declining fundraising capacity; working capital shortage risk escalating.
7/10 NEW Supply Chain Risk
Nepal hydropower project suspended due to local unrest; currently reliant on local partner's funding. Schedule delays pose revenue generation risk.
7/10 Customer Concentration Risk
Medical business Speme relies on Koun Kai clinic; prior Kaihan Medical also had high customer concentration. Loss of major client poses significant revenue risk.
6/10 NEW M&A Risk
Speme acquisition generated provisional goodwill of ¥515M pending asset/liability valuation completion. Risk of goodwill impairment.
6/10 NEW Labor Risk
Store divestiture reduced workforce by 48; recruitment difficulty and potential wage arrears driving turnover risk.
6/10 NEW Regulatory Risk
Social insurance arrears resulted in actual garnishment by Japan Pension Service; risk of labor authority sanctions.
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