Chain Restaurants in Japan Strengthening Ramen Businesses; Overseas Expansion Eyed

By Ryuji Hashimoto / Yomiuri Shimbun Staff Writer

6:00 JST, April 9, 2026

Major operators of gyudon beef bowl restaurants and other such chain restaurants are strengthening their ramen businesses.

One reason is due to the price of wheat — the main ingredient of ramen noodles — remaining stable, compared to soaring rice prices. Another reason is that there is reportedly still little competition among major restaurant chains in the growing market. Some companies are even positioning their ramen business as a major part of their plan to expand overseas.

A Shinsen ramen shop opened in a residential area of Imizu, Toyama Prefecture, on Friday. The shop, which is a chain restaurant that serves ramen in a rich tonkotsu pork broth, attracted families and other customers on its first day.

The Ishikawa Prefecture-based chain restaurant is operated by Yoshinoya Holdings Co., which acquired the chain’s operating company seven years ago.

Yoshinoya Holdings increased its total number of restaurants at home and abroad to 125 by the end of February through acquisitions and the opening of new shops.

“Since the size of a ramen shop is about the same as a gyudon restaurant, we can utilize our operational expertise and personnel,” said an official of Yoshinoya Holdings.

In its mid-term management plan through fiscal 2029, Yoshinoya Holdings set a goal of “becoming the world’s No. 1 in terms of the number of bowls of ramen served.” It aims to operate 500 stores globally and earn ¥40 billion in sales — five times the fiscal 2024 level.

The company intends to make the ramen business a pillar of its operations, along with its gyudon and Hanamaru udon chain restaurants.

In January, Matsuya Foods Holdings Co. acquired the operating company of the tsukemen noodle restaurant chains Rokurinsha and Sharin. Matsuya Foods also launched ramen shop chain Matsutaro in July last year, expanding the number of ramen shops it runs to about 130.

‘High profit margins’

A reason companies are strengthening their ramen businesses is that international wheat prices have generally remained stable — except in 2022 when Russia began its aggression against Ukraine.

Gyudon, once referred to as a “symbol of deflation,” are seen as low-priced dishes, making it difficult for operators to raise gyudon prices even when the cost of ingredients surges.

In contrast, the price of ramen in urban areas can sometimes be in the ¥1,000 range. Thus, according to a Yoshinoya Holdings official, “It is easier to raise ramen prices in accordance with the cost of ingredients.”

In May last year, Antworks Co., which operates donburi rice bowl chain Densetsu no Sutadon-ya, launched its ramen chain Densetsu no Nikusoba-ya. There are currently two Densetsu no Nikusoba-ya ramen shops in the Tokyo metropolitan area.

The company has set the price for ramen about ¥100 to ¥150 lower than its donburi dishes.

“Ramen has high profit margins, and we aim to develop it into our second major brand after Densetsu no Sutadon-ya,” a company official said.

The domestic ramen market is expanding. According to Teikoku Databank Ltd., the market reached ¥790 billion in fiscal 2024, an about 50% growth over the past decade.

However, no one company holds a significant market share in the industry, which is dominated by independent operators as well as small and midsize chains. Consequently, companies, including those from other sectors, are rushing to enter the market.

According to research firm Recof Corp., there were a record 21 acquisitions of domestic ramen shops in 2025.

Expansion into U.S.

There are also companies that are gaining more expertise in Japan and working to expand overseas.

One such company is Plenus Co., which operates the teishoku set meal restaurant chain Yayoi Ken. Plenus launched its ramen shop Kayava. and opened two locations in Seattle in 2024.

In July last year, the company opened the Kayava. So-honten in Tokyo’s Kayabacho district with the aim of gaining operational know-how and training personnel in preparation for opening more ramen shops in the United States.

“Compared to New York and other cities, Seattle has less competition among ramen shops, offering significant room for growth,” a Plenus official said.

Hideo Kumano, chief economist at Daiichi Life Research Institute Co., said, “As the ‘¥1,000 barrier,’ [the price at which customers feel the dish is too expensive], for ramen has been collapsing, major companies with their own procurement networks and strong cost competitiveness will likely intensify their efforts to expand their businesses through acquisitions and other means.”