Watami

What Watami does

Watami Co., Ltd. is a publicly listed Japanese food and hospitality group (Tokyo Stock Exchange Prime, ticker 7522) founded in 1984 by Miki Watanabe, operating a vertically integrated "6th industry" business model that combines agriculture, food manufacturing, restaurant operations, home meal delivery, and renewable energy. The group runs approximately 100+ domestic restaurant locations across brands including Yakiniku Watami, Sandaime Torimero (98 locations), TGI Fridays Japan, Subway Japan, and Kamimura Bokujo, alongside international dining concepts in Hong Kong, Taiwan, Singapore, Guam, and Cambodia. It serves individual consumers across casual dining, izakaya, yakiniku, Japanese cuisine, home meal delivery, and organic food segments, with a smaller enterprise relationship through a TNFD-aligned Nature Impact Finance loan with Sumitomo Mitsui Trust Bank.

The core technology and production architecture is the circular 6th industry model: Watami Farm operates ~12 organic farms across approximately 800 hectares (Hokkaido to Kyushu) producing vegetables and dairy, the Watami Handmade Kitchen serves as a centralized food manufacturing hub, and outputs flow into both restaurant and home-delivery channels, with food waste collected from ~100 Kanto-region restaurants and recycled into compost that returns to the farms. Proprietary infrastructure includes the in-house "Watami HACCP" food safety management system and a closed-loop food recycling system; ~40% of vegetables used domestically are organic or specially cultivated versus a 0.2% national average. The home food delivery business (Watami Takushoku, Takushoku Direct, Yoihinogozen, Watami de Oishii Kenko) operates on subscription and one-time purchase models, complemented by an organic e-commerce storefront (Watami Organic) and the Watami Energy renewable energy subsidiary.

Watami makes money through a mix of dine-in transactions (menu items priced individually with promotional campaigns like 500-yen all-you-can-drink and 1,000-yen cold noodle sets), franchise royalties and fees (FC model actively recruiting domestic partners), recurring home meal delivery subscriptions, agricultural product sales, and managed services from its PPS (Power Producer and Supplier) energy business. Distribution spans owned retail, franchise channels, direct-to-consumer delivery and e-commerce, and international restaurant operations under WATAMI INTERNATIONAL CO., LTD. The group is supported by marketing integrations with Meta, Google, X, Microsoft, LINE, SmartNews, and Gunosy, and a co-branded Watami Friendship Card with AEON/WAON POINT. Watami also operates ancillary HR businesses (watami Agent, Dream Street) and supports three public-interest foundations (School Aid Japan, Save Earth Foundation, Minna no Yume wo Kanaeru Kai) as part of its social contribution platform.

Name

Watami

Legal name

ワタミ株式会社

Website

https://watami.co.jp

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Watami Co., Ltd. is a Japanese publicly listed food and hospitality group operating ~100+ restaurants, a home meal delivery business, ~12 organic farms across 800 hectares, and a renewable energy unit under an integrated circular 6th industry model serving individual consumers in Japan and select APAC markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Haneda

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Operations (外食事業): Revenue from owned and operated restaurant chains including Yakiniku Watami, Torimero, Subway, TGI Fridays, and other Japanese dining concepts. Also includes franchise royalties.
2. Home Meal Delivery (宅食事業): Subscription and one-time delivery of frozen meals, bento boxes, and meal sets under brands including Watami no Takushoku, Watami Takushoku Direct, Yoihinogozen, and Oiken health meals.
3. Agricultural Products: Sales of organic vegetables, dairy, and other farm products from Watami Farm operations. Products sold directly and through group restaurants.
4. Environmental/Energy Services: Revenue from Watami Energy operations including renewable energy generation and PPS (Power Producer and Supplier) services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Watami operates a vertically integrated food and hospitality business comprising restaurant chains (Yakiniku Watami, Sandaime Torimero, TGI Fridays, Subway Japan, etc.), a national home meal delivery subscription service (Watami no Takushoku, Takushoku Direct, Yoihinogozen), organic agriculture (Watami Farm across ~800 hectares), renewable energy generation (Watami Energy), and HR/staffing services. The group practices a circular "6th industry" model where farm production, central kitchen manufacturing, and restaurant/home food sales are interconnected through a food-recycling loop.

Product overview

Watami Co., Ltd. operates a diversified food and hospitality group comprising multiple business units: (1) Home Food Delivery (宅食) business offering bento and frozen meal subscriptions through brands including ワタミの宅食, ワタミの宅食 ダイレクト, 好い日の御膳, ワタミdeおいしい健康, and PAKUMOGU; (2) Restaurant (外食) business operating domestic chains such as 三代目鳥メロ (izakaya), 焼肉の和民 (yakiniku), かみむら牧場 (BBQ), ミライザカ (izakaya), TGI FRIDAY'S, and sushi brands, plus international Japanese dining and specialty concepts; (3) Agriculture (農業) through ワタミファーム operating 12 organic farms across ~800 hectares; (4) Environment (環境) through ワタミエナジー managing renewable energy assets; and (5) HR services through watami Agent and Dream Street. The group practices a circular 6th industry model where farm production (1st), food manufacturing in Handmade Kitchen (2nd), and restaurant/home food sales (3rd) are vertically integrated, supported by renewable energy and sustainability initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• ワタミの宅食: Home-delivered meal (bento and side dishes) service.
• ワタミの宅食 ダイレクト
• 好い日の御膳
• 三代目鳥メロ (Sandai-me Torimero)
• 焼肉の和民 (Yakiniku Watami)
• ワタミオーガニック
• ワタミファーム (Watami Farm)
• ワタミエナジー (Watami Energy)
• watami Agent
• Dream Street

Products and services

• Yakiniku Watami (焼肉の和民) Korean BBQ (yakiniku) restaurant chain with select locations featuring robot waiters and Express Lane ordering; offers seasonal menu promotions such as the Cold Noodle Fair.
• Sandaime Torimero (三代目鳥メロ) Izakaya chain specializing in charcoal-grilled chicken skewers operating across 98 locations in Japan.
• TGI Fridays Japan American restaurant and bar chain operated under franchise license in Japan; notably used as the site of Watami's first dedicated disability employment induction ceremony in 2018.
• SUBWAY Japan Watami Group has operated the SUBWAY sandwich chain in Japan since 2014.
• Watami no Takushoku / Takushoku Direct (ワタミの宅食 / ダイレクト) National home meal delivery service offering bento and side dish subscriptions plus a frozen meal direct delivery line including combo sets like Kirishima Black Pork Handmade Hamburgers.
• Yoihinogozen (好い日の御膳) Budget meal set brand positioned as an affordable luxury through Watami's home food e-commerce platform, marketed as offering industry-lowest pricing.
• Watami de Oishii Kenko / Oiken (ワタミdeおいしい健康) Health-focused frozen bento brand targeting consumers managing dietary conditions such as diabetes.
• Watami Organic / Watami Organic Land Organic food brand with direct e-commerce storefront and an agritourism/organic farming complex at Rikuzen Takada featuring solar sharing (agrivoltaics) over vineyard areas.
• Watami Farm (ワタミファーム) Organic agricultural production unit operating approximately 800 hectares across 12 farms nationwide, producing organic vegetables, dairy, and livestock to supply the group's restaurants and home food operations.
• Watami Energy (ワタミエナジー) Renewable energy subsidiary managing wind, mega-solar, and PPS (Power Producer and Supplier) operations to power Watami facilities and contribute to the group's renewable energy self-sufficiency targets.
• Watami Handmade Kitchen (ワタミ手づくり厨房) Centralized food manufacturing facility (concentrated kitchen) producing prepared foods for the group's restaurant and home food operations.
• watami Agent / Dream Street HR services platform providing domestic staffing/recruitment and overseas employment placement services under the Watami Group.
• Watami Japanese Dining (International) Japanese dining restaurant brand operated internationally in Hong Kong, Taiwan, Singapore, and Guam as part of Watami's overseas expansion.

Quantifiable outcome

• Organic vegetables ratio approximately 40% of domestic restaurant usage (vs. 0.2% national average)
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature2 records

Partnerships

Eight partnerships are on record, tiered supporting and core.

• ERM Japan Co., Ltd.supportingImplementation/ SI/ Consulting PartnerConducts impact and natural capital management assessments to monitor Watami's progress toward sustainability goals under the TNFD framework.
• School Aid Japan (公益財団法人School Aid Japan)coreStrategic or Co-development PartnerWatami Group supports this public interest foundation which builds schools and operates orphanages in Cambodia, Nepal, and Bangladesh. Founded by Watami founder Watanabe Miki in 2001. SAJ Farm provides agricultural employment support.
• Save Earth Foundation (公益財団法人Save Earth Foundation)coreStrategic or Co-development PartnerWatami Group supports this foundation focused on resource circulation and forest regeneration/preservation. Conducts forest conservation activities including at日向の森 in Sanbu, Chiba.
• Minna no Yume wo Kanaeru Kai (公益财经大学みんなの夢をかなえる会)coreStrategic or Co-development PartnerWatami Group supports this foundation that operates the Minna no Yume AWARD program, a major social business plan contest held annually to support dreamers and entrepreneurs.
• Hayakane Industry Co., Ltd. (株式会社早金)supportingStrategic or Co-development PartnerCraft expertise partner for Kirishima Black Pork Handmade Hamburger products made from high-quality black pork sourced from Kirishima Dream Farm in Miyazaki Prefecture.
• 花畑牧場 (Hanabatake Bokujou)supportingStrategic or Co-development PartnerSixth industry collaboration between Watami Farm and Hanabatake Bokujou, utilizing Watami's raw milk for processed dairy products and dessert menu development.
• NPOチルドリン (NPO Childerin)supportingStrategic or Co-development PartnerJoint development of organic lemongrass body soap products using ingredients from SAJ Farm in Cambodia. Watami Farm & Energy handles OEM production.
• 大地を守る会 (Daichi wo Mamoru Kai)supportingGTM or Marketing PartnerCollaboration partner for organic marketplace events, candle night activities, and environmental campaigns including 100 Million Candle Night at Zojo-ji temple.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Saizeriya: Italian family restaurant chain operating primarily in Japan and Asia. Comparable as a Japanese-listed restaurant operator with international footprint in similar Asian markets.
• Food & Life Companies: Operates Sushiro, Japan's largest kaiten-zushi chain. Comparable Japanese restaurant operator focused on affordable, high-volume dining.
• Create Restaurants Holdings: Multi-brand restaurant operator in Japan (Yama-ya, Futago, etc.). Comparable scale and business model with diversified restaurant portfolio.
• Skylark Holdings: Japan's largest listed restaurant chain operator (Gusto, Jonathan's, Yumean, etc.). Most directly comparable peer in scale, multi-brand restaurant portfolio, and Japanese dining market focus.
• Colowide: Operates various restaurant brands including Steak Gusto and Ikkyu. Comparable Japanese multi-brand restaurant operator with similar business model and target market.
• Zensho Holdings: Japan's largest restaurant group by sales, operating Sukiya, Coco's, and many other chains. Comparable as a multi-brand restaurant operator with vertically integrated food supply chain.
• Toridoll Holdings: Operates Marugame Seimen udon chain and other restaurant brands globally. Comparable multi-brand Japanese restaurant operator with international expansion.

Broad incumbents

• Yoshinoya Holdings: Operates Yoshinoya gyudon chain and other restaurant brands. Comparable as a major Japanese QSR/dining operator, though more focused on beef bowl specialization.

Emerging players

• Plenus: Operates hotto Motto boxed meal chain and other food service brands. Comparable in Japanese home meal delivery and casual dining segments.

Others

• Welbe Inc. Operates home meal delivery service (Tsukuri-Ichi). Adjacent peer in Japan's home meal delivery (宅食) market segment where Watami also competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC7jR4GBPJ6B1aIZunr-Vt5Q
• Facebookfacebook.com/watamigroup
• Instagraminstagram.com/miki_watanabe_official/?hl=ja
• LinkedInlinkedin.com/company/watami-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Watami