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International Guild of Hospitality & Restaurant
Benihana, Inc., incorporated in 1982, operates
teppanyaki-style Japanese restaurants in the
. The Company owns and operates 54 Benihana
teppanyaki-style Japanese dinnerhouse restaurants, including one restaurant
under the name Samurai; franchises others to operate 18 additional Benihana
restaurants; owns and operates five Haru restaurants in
New York City
, offering Japanese dining, featuring sushi and
sashimi, and owns and operates two Doraku restaurants.
The Benihana Concept
The Benihana concept offers casual dining in a distinctive Japanese atmosphere
enhanced by the entertainment provided by its Benihana chefs, who prepare fresh
steak, chicken and seafood in traditional Japanese-style at the customer's
table. Most of its Benihana restaurants are open for both lunch and dinner. The
Benihana restaurants have a limited menu, offering a full course meal consisting
of an appetizer, soup, salad, tea, rice, vegetable, an entree of steak, seafood,
chicken or any combination of them and a dessert.
Specific menu items may be different in the various restaurants depending upon
the local geographic market. The servings are portion controlled to provide
consistency in quantities served to each customer. Alcoholic beverages,
including specialty mixed drinks, wines and beers and soft drinks are available.
The average check size per person was $23.61 in fiscal 2002. During fiscal 2002,
beverage sales in both the lounges and dining rooms accounted for approximately
17% of its total restaurant sales. Sushi is offered at all of its traditional
restaurants at either separate sushi bars or at the teppanyaki grills.
Of the 54 Benihana restaurants the Company operates, 37 are located in
freestanding, special use restaurant buildings, six are located in shopping
centers and 11 are located in office or hotel building complexes. The
freestanding restaurants were built to its specifications as to size, style and
interior and exterior decor. The other locations were adapted to the Benihana
interior decor. The freestanding, traditional Benihana restaurant units, which
are generally one-story buildings, average approximately 8,000 square feet and
are constructed on a lot of approximately 1.25 to 1.50 acres. The shopping
center, office building and hotel-based Benihana restaurants are of similar
size, but differ somewhat in appearance from location to location in order to
conform to the appearance of the buildings in which they are located. A typical
Benihana restaurant has 18 teppan tables and seats from 86 to 178 customers in
the dining rooms, and eight to 120 customers in the bar lounge areas.
The Company opened two Benihana restaurants, one in April 2002 in The Woodlands,
, and one in May 2002 in Las
. It anticipates opening two new Benihana
, in fiscal 2003.
The Haru Concept
The Haru concept offers an extensive menu of distinctive Japanese fusion dishes
in a high-energy urban atmosphere. In addition to traditional sushi and sashimi
creations, Haru offers raw bar items and Japanese cuisine, including
strip steak with wasabi croquette, spicy
shallots and ginger sauce, garlic shrimp and crispy duck. Haru also offers
delivery and takeout. The average check size per person was $26.50 in fiscal
2002. The Company owns 80% of the subsidiary that operates the Haru restaurants.
The Doraku Concept
The Doraku concept offers sushi, as well as other Japanese dishes. The average
check size per person was $15.53 in fiscal 2002. The Company has two Doraku
restaurants in operation, and it does not have plans for expansion. It closed a
Doraku restaurant in March 2002 due to poor traffic at the mall in which it was
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1999-2000 International Guild of Hospitality and Restaurant Managers
Inc. All rights reserved.
The data included within the Financial section is solely for information
and does not construe a recommendation and/or endorsement by IGHRM or its
members to invest funds with any of the companies listed. You are strongly urged
to obtain professional advice with qualified individuals or corporations for any
investments of funds.