Japanese-style restaurant group Riku Dining Group sets terms for $25 million US IPO
IPO Overview
Riku Dining Group, which operates and franchises Japanese-style restaurants in Canada and Hong Kong, announced terms for its IPO on Monday.
The Toronto, Canada-based company plans to raise $25 million by offering 5 million shares at a price range of $4 to $6.
The company is a restaurant operator with Japanese-themed dining concepts in Canada and Hong Kong. In Canada, it holds the franchise for Ajisen Ramen, operating four restaurants directly and sub-franchising nine others across Ontario. In Hong Kong, it franchises three brands across seven restaurants: Yakiniku Kakura, Yakiniku 801, and Ufufu Café。
Riku Dining Group was founded in 2025 and booked $16 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol RIKU. Eddid Securities and Futures is the sole bookrunner on the deal.
About the Company
We are a dynamic and growing international restaurant operator with a diverse portfolio of Japanese-themed dining concepts across Canada and Hong Kong. Through our Operating Subsidiaries, we deliver authentic Japanese culinary experiences by holding exclusive franchise rights for distinguished Japanese restaurant brands in Hong Kong and Canada. In Canada, we have established a robust presence with our exclusive franchise of Ajisen Ramen, one of Japan’s most iconic ramen brands. Ajisen Ramen was brought to Canada by one of our founders, Mr. Johnny Luk, in 2007 as one of the first ramen shops in Toronto. Since then, we have expanded to 13 locations across Ontario, including four （4） directly managed restaurants and nine （9） sub-franchisees. In Hong Kong, we franchise Yakiniku Kakura, Yakiniku 801, and Ufufu Café， three distinct concepts that cater to various segments of the dining market. Yakiniku Kakura, a premier Japanese barbecue restaurant from Saga, Kyushu, is renowned for its premium A5 black Wagyu beef, offering a luxurious yet accessible dining experience where each cut is meticulously selected for flavor and texture. Yakiniku 801 provides a more casual yet high-quality yakiniku experience, serving affordable grilled meat that appeal to diners seeking excellent value in a relaxed setting.
