FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

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MK RESTAURANT GROUP PUBLIC COMPANY LIMITED

Medium
Group★Golden 50est. scale

SET M · ASEAN

Listing status
listed
Operating model
Direct / managed estate
Scale basis
Revenue proxy
Confidence
Medium
Segment
restaurant chain

MK can now be used as a Thailand full-service restaurant benchmark with revenue/branch plus net-profit context; no separate terminal consumer GMV line was found in the checked MD&A.

Scale basis note

Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
693 stores
FY2025: As of December 31, 2025, [MK Suki 419 + Yayoi 194 + Laem Charoen Seafood 41 + others 43] = 697 total branches (operator store_count 693; latest research 697 FY2025 — minor, within tolerance)
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · As of December 31, 2025, [MK Suki 419 + Yayoi 194 + Laem Charoen Seafood 41 + others 43] = 697 total branches (operator store_count 693; latest research 697 FY2025 — minor, within tolerance)
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
$462.83M
FY2025: Total Revenues 2025: 15,809 [2023] | 15,420 [2024=FY2025 per IR page ordering]
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Total Revenues 2025: 15,809 [2023] | 15,420 [2024=FY2025 per IR page ordering]
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Revenue proxy
Precision: Estimated
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$667,859
Screening proxyest.
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$25.67M
FY2025: Net Profit (Million Baht) 2025: 838
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Net Profit (Million Baht) 2025: 838
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$462.83M
THB 15,109 million revenues from sales and services
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Official Source Pack · GH-097 revenue backfill from hardened master/top100 source. S1_official_manual_override.
Provenance
Tier: S1 official primary
Source: Official Source Pack
Basis: Revenue proxy
Precision: Manual override

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$589.32M
May 22, 2026: 22 May 2026 | Open: 21.60 | High: 21.80 | Low: 21.30 | Close: 21.30 [× 903.63M shares = THB 19,247M]
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · 22 May 2026 | Open: 21.60 | High: 21.80 | Low: 21.30 | Close: 21.30 [× 903.63M shares = THB 19,247M]
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

9/19 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
other asianS2 official secondary (opens in new tab)
Cuisine (secondary)
japaneseS2 official secondary (opens in new tab)
Service model
casual diningS2 official secondary (opens in new tab)
Price tier
midS2 official secondary (opens in new tab)
Company
Founded
1,962S2 official secondary (opens in new tab)
HQ country
ThailandS2 official secondary (opens in new tab)
CEO
Rit ThirakomenS2 official secondary (opens in new tab)
Employees
14,755S3 supplementary (opens in new tab)~
Ownership
Parent
Public-standalone; controlled by the founding Thirakomen family (President & CEO Rit Thirakomen and managing director Yupin Thirakomen are major shareholders)S2 official secondary (opens in new tab)
PE / holding
not disclosed
Recent M&A
not disclosed
Growth
System sales YoY
not disclosed
Revenue YoY
-2.5%S3 supplementary (opens in new tab)
Net new units
not disclosed
Pricing & digital
Avg check
$18.71S3 supplementary (opens in new tab)~
Digital sales
not disclosed
Franchise terms
Royalty
not disclosed
Franchise fee
not disclosed
By-market footprint
ASEAN
693 storesS2 official secondary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed13/14 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
693 stores
693 disclosed restaurant branches/network locations
Source-backedS1 official primary (opens in new tab)
Operational scale
$463M
Company revenue proxy: THB 15,109 million FY2025 revenues from sales and services across 693 disclosed branches/network locations.
Source-backedS1 official primary (opens in new tab)
Revenue
$463M
THB 15,109 million revenues from sales and services
Source-backedS1 official primary (opens in new tab)
Company-operated
see brand drilldown
Franchised
see brand drilldown

Brand drilldown

non-additive

Per-brand detail — NOT additive (brands may use different bases / periods) and NOT counted in rankings. Listed for transparency only.

mk restaurant group public company limited
Direct vs franchise split
100% group branches company-operated (domestic)
As at 31 Dec 2024
Source-backedS1 official primary (opens in new tab)
Same-store sales
-10.1% yoy
FY2024 vs FY2023
Source-backedS1 official primary (opens in new tab)
Unit / store-level profit
67.4% gross margin
FY2024 (year to 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Net store movement
-11 branches (net change, group)
FY2024 (31 Dec 2023 -> 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Initial investment
9 THB million per branch (range 8-10)
FY2024 disclosure
Source-backedS1 official primary (opens in new tab)
MK RESTAURANT GROUP PUBLIC COMPANY LIMITED
Operating margin
11.5%
FY2024
Source-backedS1 official primary (opens in new tab)
Food cost %
17.7%
FY2024
Source-backedS1 official primary (opens in new tab)
Labor cost %
30.8%
FY2024
Source-backedS1 official primary (opens in new tab)
Rent cost %
16.2%
FY2024
Source-backedS1 official primary (opens in new tab)
Marketing cost %
1.8%
FY2024
Source-backedS1 official primary (opens in new tab)
Delivery cost %
1.2%
FY2024
Source-backedS1 official primary (opens in new tab)

Single-store model

7/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Single reportable segment; no per-brand baht revenue (only rounded %). Year-end (not average) branches.
Derived: group sales & service revenue THB 15,418M FY2024 x brand contribution (MK 72%, Yayoi 18%, LCS 7%, Others 3%) / year-end branches (MK Suki 441, Yayoi 191, LCS 40, Others 20). Implied: MK Suki ~THB 25.2M/branch; Yayoi ~THB 14.5M; LCS ~THB 27.0M; blended group ~THB 22.3M (15,418M/692).
FY2024 (year to 31 Dec 2024)
EstimatedS1 official primary (opens in new tab)
Single-store profit
Group-level; no per-store contribution. Single reportable segment.
Gross profit THB 10,390M = 67.4% of sales & service (FY23 66.1%). Operating profit THB 1,775M = 11.5% of sales. EBITDA THB 3,769M = 23.8% of total revenue. Net profit THB 1,442M = 9.1% of total revenue (-14% YoY). SG&A 57% of revenue.
FY2024 (year to 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Initial investment
Range, not brand-specific; excludes pre-opening/working capital.
'It needs approximately Baht 8 - 10 million to open a branch. The fund is used for design, construction, M&E system, furniture, kitchen equipment and other office equipment.' Midpoint ~9M. Group capital commitments at 31 Dec 2024 THB 128.0M consolidated.
FY2024 disclosure
Source-backedS1 official primary (opens in new tab)
Franchise fee / royalty
Royalty % / initial fee not published.
Predominantly company-operated; franchising mostly INBOUND (Yayoi: MK Interfood is franchisee of Plenus Co Japan - pays monthly royalty % of revenue, 3-yr auto-renew; Hikiniku To Come royalty % of revenue, 8-yr) + OUTBOUND overseas (MK franchises in Japan/Vietnam/Laos; LCS Malaysia). Outbound = initial franchise fee + monthly royalty % of revenue. Only quantified outbound fee: LCS royalty from MT Restaurant Malaysia JV THB 4.67M FY2024 (first year). Specific royalty %/initial-fee NOT disclosed.
FY2024
Source-backedS1 official primary (opens in new tab)
Payback period
No numeric payback/ROI hurdle disclosed.
—
FY2024
GapS1 official primary (opens in new tab)
Same-store sales
MD&A -10.1% vs presentation chart ~-8% (rounding). No brand-level SSS.
Full-year FY2024 SSS declined 10.1% (MD&A). Quarterly SSSG: 1Q24 -4%, 2Q24 -9%, 3Q24 -11%, 4Q24 -10%. Total system sales growth -10%. Driven by weak purchasing power, high household debt, competition. Reported group-wide, NOT by brand.
FY2024 vs FY2023
Source-backedS1 official primary (opens in new tab)
Store open / close
Closures derived (openings minus net), not separately stated.
Year-end branches 692 (2024) vs 703 (2023), net -11 group-wide. By brand: MK Suki 441 (vs 448, -7); Yayoi 191 (vs 198, -7); LCS 40 (vs 39, +1); Others 20 (vs 18, +2). Gross opened 2024: MK 8, Yayoi 5, LCS 6, Other 2 (=21); net reductions from closures of underperforming MK/Yayoi. 2025 plan: MK 5, Yayoi 3, LCS 5, Other 2.
FY2024 (31 Dec 2023 -> 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Company-operated share
Overseas franchised (~36) not in 692; strict system-wide direct % ~95% (692/728).
All 692 group branches (year-end 2024) are company-operated within the Group (Company + subsidiaries MK Interfood/LCS). Franchising is overseas-only and OUTBOUND, third parties NOT consolidated: Japan 24 MK (Plenus, Company holds 12%), Vietnam 4, Laos 3+1 Miyazaki, Malaysia 4 LCS (50% JV). Domestic = 100% direct; ~36 overseas franchised sit outside the 692. Yayoi (191) operated directly by MK Interfood under inbound license (company-operated, not sub-franchised).
As at 31 Dec 2024
Source-backedS1 official primary (opens in new tab)

Cost structure

6/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS17.7%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Labor30.8%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Rent / occupancy16.2%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Delivery commission1.2%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Marketing1.8%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Operating margin11.5%
FY2024· THB15,418.3m rev; rent=lease rental 7.5%+TFRS16 ROU dep 8.7%; delivery=logistic expenses (own fleet)S1 official primary (opens in new tab)Source-backed
MK Suki/Yayoi direct. Aggregator commissions not separately disclosed. Food 17.7% notably low (suki model).
Not separately disclosed20.8%

Supply chain

4 suppliers · 4 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Plenus Co., Ltd. (delisted from Tokyo Stock Exchange Jan 2023)TYO:9945
Ingredients
discloses as: MK RESTAURANT GROUP PUBLIC COMPANY LIMITED
—named (no % disclosed)S1 filingsource (opens in new tab)
Prantalay Marketing Co., Ltd.
Ingredients
discloses as: MK RESTAURANT GROUP PUBLIC COMPANY LIMITED
—named (no % disclosed)S1 filingsource (opens in new tab)
Thai Union Group PCL (formerly Thai Union Frozen Products PCL)SET:TU
Ingredients
discloses as: MK RESTAURANT GROUP PUBLIC COMPANY LIMITED
—named (no % disclosed)S1 filingsource (opens in new tab)
SENKO Group Holdings Co., Ltd.TYO:9069
Logistics
discloses as: MK RESTAURANT GROUP PUBLIC COMPANY LIMITED
—named (no % disclosed)S1 filingsource (opens in new tab)

Peers in this segment

HaidilaoRevenue proxySKYLARK HOLDINGS CO.,LTD.Revenue proxyFOOD & LIFE COMPANIES LTD.Company-operated revenue (proxy)SAIZERIYA CO.,LTD.Revenue proxyTORIDOLL Holdings CorporationCompany-operated revenue (proxy)COLOWIDE CO.,LTD.Revenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.