Monogatari Unit Acquires Hibachi Steak House Assets in California for $216,000
Monogatari Corporation's U.S. unit acquires Hibachi Steak House store assets in California for $216,000 to expand its teppanyaki network. Read the full story.
Prajakta Sanjay Warwadkar 
CALIFORNIA, November 4, 2025 — Japan-based Monogatari Corporation (TSE Prime: 3097) announced on November 4, 2025 that its U.S. consolidated sub-subsidiary, Shin Nihon Kousan Inc., signed a store asset transfer agreement with California-based Mikio Corporation to acquire restaurant assets tied to the Hibachi Steak House brand for USD 216,000, payable entirely in cash.
The deal marks the Japanese restaurant group's second U.S. acquisition move in 2025, coming months after Monogatari's U.S. subsidiary, Storytellers USA, Inc., completed the takeover of the Shogun Group, operator of large-format teppanyaki restaurants in suburban American markets, in April 2025.
Hibachi Steak House Assets at the Centre of the Deal
Mikio Corporation, established in 1987 and headquartered in California, operates compact-format restaurants under the Hibachi Steak House brand, primarily along suburban road corridors. The company has served local communities for approximately 38 years.
According to the filing submitted to the Tokyo Stock Exchange, Mikio Corporation is entirely owned and represented by a single individual. Its share capital stands at USD 50,000. The total acquisition cost for the non-current restaurant assets is USD 216,000, structured as a one-time cash payment.
SNK and the Shogun Group Connection
Shin Nihon Kousan Inc., the acquiring entity, is a California-based sub-subsidiary of Monogatari, established in 1978 with share capital of USD 26,685. Storytellers USA, Inc., Monogatari's wholly owned U.S. subsidiary, holds a 100 percent stake in SNK. Masamichi Okada serves as chief executive officer of SNK.
The filing notes that SNK's teppanyaki operations share strategic alignment with the Shogun Group, which runs large-scale suburban roadside restaurants. Monogatari stated it expects operational and product development synergies between the Shogun Group and the Hibachi Steak House model now moving under SNK's operational umbrella.
Small-Format Model Targets Smaller U.S. Cities
A core element of the transaction's strategic rationale, as outlined in the official disclosure, is the compact footprint of Mikio Corporation's restaurant model. Unlike the large-format Shogun Group outlets, Hibachi Steak House units are sized for smaller cities and suburban zones where large-scale Japanese restaurant brands have found it difficult to operate.
Monogatari stated that this small-format template carries the potential to significantly accelerate the pace of its U.S. store network expansion, extending its reach beyond the suburban highway locations it currently occupies through the Shogun Group.
Teppanyaki Market Drives Overseas Push
Monogatari Corporation operates approximately 570 restaurants across Japan and China under more than a dozen brands, including Yakiniku Kingu, Marugen Ramen, Okonomiyaki Honpo and Sushi & Shabu Shabu Yuzuan. Its U.S. presence is managed entirely through Storytellers USA, Inc.
The company has identified the U.S. restaurant sector, the largest in the world by scale, as a primary overseas growth market. Its filings consistently note that the market's maturity creates high barriers to organic brand entry, making asset acquisitions the preferred route for building a U.S. footprint.
Hibachi-style teppanyaki dining, which covers a broad range of dining occasions from everyday meals to celebrations, has demonstrated cross-demographic appeal across U.S. restaurant markets, particularly in suburban areas.
Asset Transfer Scheduled for Early March 2026
The agreement between SNK and Mikio Corporation was concluded on November 4, 2025. The physical transfer of restaurant assets is scheduled for completion in early March 2026, according to the company's TSE filing.
Monogatari noted in the same disclosure that the financial impact of this acquisition on the group's consolidated results for the fiscal year ending June 2026 is expected to be minor.
No prior capital, personnel or business relationship existed between Monogatari Corporation and Mikio Corporation prior to this transaction.
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