Kura Sushi, Inc. operates a chain of company-managed conveyor-belt sushi restaurants in Japan, North America, and Asia. Founded in 1977, the company is headquartered in Osaka, Japan.
Kura Sushi lowers minimum price to 110 yen for 20 items
Kura Sushi announced on the 20th that it will cut the minimum price per plate by 5 yen. From September 4, 20 items including negitoro tuna and tamagoyaki will drop from 115 yen to 110 yen at more than half of its stores nationwide. The minimum price varies by store, and 110 yen will apply at 313 of all 551 locations. Combined with new menu items, about 40 percent of all sushi products will be offered at the minimum price. The company aims to further expand use by families by lowering prices on items popular with children.
Japan 7.1 Earthquake Severely Impacts TSMC, Evacuates Staff, Toyota and Honda Halt Production
A powerful magnitude 7.1 earthquake struck southwestern Japan on Tuesday evening, July 28, prompting Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, to evacuate all employees from its plant in Kumamoto Prefecture. Meanwhile, Honda Motor suspended operations at its Kumamoto factory, which produces automobiles and motorcycles, until Wednesday evening, July 29, and its subsidiary Astemo Uki halted production at a plant in the same prefecture, with several injuries reported. Toyota Motor Kyushu announced a temporary production suspension at all three of its plants in Fukuoka Prefecture for safety inspections, with plans to resume operations on Wednesday morning. Nippon Paper Industries disclosed that the chimney at its Yatsushiro plant in Kumamoto Prefecture suffered severe damage, with the upper section collapsing. Additionally, Kura Sushi closed six outlets in Kumamoto Prefecture, Seven-Eleven Japan shut some branches, Koikeya stopped production at its local plant, and transport companies including Sagawa Express, Yamato Transport, and Japan Post temporarily suspended parcel delivery services in Kumamoto Prefecture and some other areas.
Kura Sushi reports shortages of some items due to system failure at Nichirei
Kura Sushi announced on the 15th that due to a system failure caused by unauthorized access at its supplier Nichirei, some sushi toppings and frozen foods have experienced delivery delays or non-arrival, leading to delays in serving and shortages of some items. Nichirei disclosed the system failure on the 13th, stating that the impact is limited to Japan and that no leak of personal information or customer data outside the company has been confirmed. The disruption has also affected other companies, including Florajapon, a group company of Skylark Holdings, and Kentucky Fried Chicken Japan. Nichirei shares extended their decline in afternoon trading, falling about 6 percent to become the fifth-biggest decliner on the Tokyo Stock Exchange Prime Market.
Five Weekend Campaigns Including Amazon Prime Day and Seven-Eleven Half-Price Coupons
From this weekend into next week, retail and restaurant chains are rolling out a series of money-saving campaigns. On July 11 only, Seven-Eleven will offer a half-price coupon for a future purchase with every Seven Café smoothie bought by showing the app. Kura Sushi is holding a Hokkaido fair, featuring a piece of Hokkaido salmon sushi at a special price of 110 yen, while a piece of Hokkaido scallop sushi and others are available for 270 yen each. Zoff is running an online-only campaign until September 3, waiving the usual 3,300 yen surcharge for blue-light-blocking lenses. Amazon will hold its annual Prime Day from July 10 to 13, with early deals running from July 7 to 9. Ramen Kaikaya is holding a half-price gyoza festival exclusively for official app members from July 11 to 21, where an order of five gyoza is half price at 159 yen with every bowl of ramen purchased.
Three Restaurant Stocks to Avoid Amid Industry Headwinds
StockStory identifies three restaurant stocks that investors should think twice about. Starbucks, with a market cap of $116.6 billion, faces weak same-store sales trends, an estimated 2.6% sales decline over the next 12 months, and a 4.9 percentage point drop in operating margin. Yum China, valued at $15.06 billion, struggles with lagging same-store sales, projected sales growth of just 5.4%, and a gross margin of 20.3%. Kura Sushi, at a $563.9 million market cap, contends with declining same-store sales, cash burn, and limited cash reserves that could lead to shareholder dilution.
Japan