Kura Sushi Usa Revenue, Net Income & 10-K Summary

Business model and offering

Technology-enabled Japanese restaurant concept delivering the “Kura Experience.”
Core service includes a revolving conveyor belt (express belt) with dishes passing guests, robots that deliver drinks and condiments, and tableside touch screens for ordering.
Menu focuses on authentic Japanese cuisine, freshness, and high-quality ingredients; the company states food is prepared without artificial sweeteners, colorings, preservatives, or additives.
Dining experience features a broad selection of small plates (about 130 items), rotating anime videos, and Bikkura-Pon reward machines that dispense toys when guests reach dining milestones.
Proprietary kitchen systems (sushi robots, vinegar mixing machines, in-house rice washing) support operations and enable data collection on guest preferences and consumption.
Pricing model: all belt plates are the same price within a restaurant; average plate price is around $3.95.
Strategy combines high-volume restaurant economics with a flexible real estate model and data-driven operations to drive traffic and profitability.

Headquarters: Irvine, California.
Founded/initial development: Established in 2008 as a subsidiary of Kura Sushi, Inc. (Kura Japan); first U.S. restaurant opened in Irvine in 2009.
Fiscal year: September 1 to August 31.
Public disclosures: referenced in a Form 10-K filing with the SEC.

As of August 31, 2026: 95 restaurants in 24 U.S. states and Washington, D.C.
Formats: mix of in-line and end-cap locations in retail centers.
Average restaurant size: approximately 3,500 square feet (range 1,600 to 7,920 square feet).
Average seating capacity: about 110 guests.
Real estate: leases for restaurants and corporate offices; long-term non-cancelable leases typically around 20 years plus extensions.
New restaurant economics: approximate cash build-out cost of around $2.4 million per new restaurant in fiscal year 2026 (net of landlord improvements; varies by site).

Expansion in both existing and new markets, supported by an ongoing development pipeline.
Remote monitoring capability: operations team can monitor restaurants in real time from headquarters.
Site selection: data analytics identify target trade areas, with reviews of projected profitability and potential cannibalization before site commitments.
Market potential: long-term opportunity cited as over 290 restaurants in the United States, subject to market conditions and execution.

Employees: approximately 4,400 total as of August 31, 2026; about 230 exempt, remainder non-exempt.
Management structure: restaurant managers supported by multiple assistant managers and larger teams at each location; approximately 20–30 cameras per restaurant for real-time monitoring.
Training: structured onboarding and ongoing training; opening teams generally on-site from two weeks before opening to six weeks after opening.
Labor practices: emphasis on pay equity analyses, internal and external audits, and a culture-focused workplace; no unionized workforce as of the filing date.

Dependence on a small number of key suppliers and major distributors:
- JFC International Inc. (subsidiary of Kikkoman): supplied 53%, 58%, and 55% of total food and beverage costs in fiscal years 2026, 2025, and 2024, respectively.
- Mutual Trading Co., Inc.: supplied 40%, 32%, and 34% of total food and beverage costs in fiscal years 2026, 2025, and 2024, respectively.
No hedging of commodity prices; some bulk purchases are made at fixed prices for a portion of annual purchases.
Supply disruption or inability to source comparable quality at similar prices could affect operations.

Core IP is licensed from Kura Japan, including brand names (e.g., “Kura Sushi,” “Mr. Fresh,” “Kura Revolving Sushi Bar”), related patents, and operational know-how.
Exclusive license agreement with Kura Japan; continuation of the license depends on mutual agreement and is subject to termination risk.
Kura Japan’s ownership and IP rights are central to branding and operational methods; termination or limitation of the license could adversely affect the business.
The company may face IP litigation related to licensed IP or third-party rights; disputes could be costly or affect operations.

Kura Japan is the majority stockholder and, as of the report date, owned 67% of the combined voting power of the company’s equity interests through Class A and Class B shares.
The company is a “controlled company” under Nasdaq rules and is therefore exempt from certain governance requirements.
Share structure:
- Class A common stock: one vote per share; outstanding Class A shares: 11,153,615 (as of Aug 31, 2026).
- Class B common stock: ten votes per share; outstanding Class B shares: 1,000,050 (as of Aug 31, 2026).
Equity-related items: 669,504 Class A shares issuable upon exercise of stock options and vesting of RSUs/PSUs; 1,350,000 Class A shares reserved for issuance under the 2018 Incentive Compensation Plan (Form S-8).
Corporate governance: exclusive forum provisions designate the Delaware Court of Chancery for many disputes, with federal and securities act exceptions; this structure has implications for stockholders.

Credit facility: revolving credit facility with Kura Japan available up to $45.0 million; as of August 31, 2026, no outstanding balance and full availability ($45.0 million).
Financial flexibility: facility permits additional indebtedness subject to covenants that may affect liquidity and strategic actions.
Tax attributes: federal net operating losses of approximately $41.7 million and federal tax credits of approximately $12.9 million as of August 31, 2026; a full valuation allowance was recorded. Limitations under Sections 382/383 of the Internal Revenue Code may apply if an ownership change occurs.
Dividends: the company does not intend to pay cash dividends in the foreseeable future.
Equity market considerations: exposure to analyst coverage, potential volatility, and possible dilution from future issuances.

Average plate price: about $3.95.
Restaurant footprint: 95 restaurants with average seating around 110 per location.
Growth expectations and expansion potential remain tied to market conditions and execution.

Food safety: HACCP system in place, time limits on items on the conveyor belt, third-party internal audits, and supplier vetting for safety and quality.
Regulatory exposure: operations are subject to federal, state, and local regulations covering health, safety, environmental matters, labeling, accessibility, taxation, immigration, and other areas.
Data security and privacy: reliance on both in-house and third-party IT systems requires active cybersecurity risk management; breaches or failures could affect guests and operations.