Japan’s House Foods Group Inc. is exploring a potential divestment of its listed subsidiary, Ichibanya Company, which runs the famous Curry House CoCo Ichibanya, or CoCo Ichi, eatery chain.
Insiders familiar with the matter indicated on Monday, August 31, that the prospective transaction stems from the major food manufacturer’s efforts to streamline its overall corporate portfolio.
In an official public statement, House Foods confirmed that it is currently “considering all available options,” which includes potentially delisting Ichibanya, “with a view to enhancing corporate value and shareholder value.”
House Foods originally secured controlling ownership of Ichibanya in 2015 via a tender offer, though the restaurant firm retained its public listing. Traded on the top-tier Prime section of the Tokyo Stock Exchange, Ichibanya was roughly 51 percent owned by House Foods as of February this year.
For the fiscal year ending February 2026, Ichibanya generated consolidated revenue of ¥65.5 billion—a 7.4 percent increase year-over-year—while net profit dropped 19.2 percent to ¥2.5 billion.
The chain currently operates nearly 1,200 CoCo Ichi locations throughout Japan alongside approximately 200 international branches, including outlets in the Philippines.