KAZUKIN likes Hidakaya.
There's no owner with folded arms glaring at you like at a high-end ramen shop.
There's no grand story like “carefully selected XX free-range chicken for 72 hours” in the soup.
But that's fine.
Tasty. Cheap. Fast.
Faced with this triple, something in KAZUKIN the investor reacts.
“...Isn't this undervalued?”
I only came to eat ramen, yet in my head a valuation starts on its own.
Analyzing chuka soba like a company
Chuka soba.
Good soup.
Good noodles.
Pork slices, check.
Menma, check.
Green onion, check.
And then I look at the price.
Cheap.
Wait.
This price for this content is strange.
In stock terms, it smells like healthy finances, stable profits, dividends, and yet a PBR of 0.7.
KAZUKIN sets down the spoon and murmurs inwardly.
“The market still hasn't properly valued this ramen...”
No, it probably has.
Everyone across the country knows.
That's fine.
The downward revision to my wallet is small
Ramen these days is really good.
But it's not unusual for it to exceed ¥1,000. Add toppings, throw in gyoza, and it's practically an earnings announcement.
In that respect, Hidakaya is reassuring.
The downward revision to my wallet is small.
And I can just drop in.
I can go in alone.
Usable at lunch or at night.
Usable after drinking too.
You can even drink at Hidakaya and finish with ramen right there.
It's vertically integrated.
From drinks to the finishing dish, complete within its own stores.
Strong. Very strong.
Hidakaya has no unrealized losses
KAZUKIN thinks.
In investing, a stock you bought thinking it was cheap sometimes falls further.
“Surely this is the bottom.”
You buy thinking that.
The next day.
−5%.
You buy more.
The next week.
−8%.
And half a year later, a fine pickled shareholder is complete.
But Hidakaya is different.
You go in thinking it's cheap and eat ramen.
It's simply good.
No unrealized losses.
No averaging down.
No loss-cutting.
All you need to do is slurp the noodles.
Slurp...
Yeah, it smells the same
KAZUKIN thinks again today.
This good, at this price.
It really smells the same.
That smell when you find an undervalued stock.
Well, in KAZUKIN's case—
a stock I buy thinking it's undervalued usually drops one more level, though.
Hidakaya is great, right?
日高屋いいよね
KAZUKIN Rating
- 🍜 The triple of tasty, cheap, fast — ★★★★★
- 📊 Rate of my head's valuation kicking in — ★★★★★
- 🍶 Vertical integration (drink and finish) — ★★★★★
- 💰 Smallness of the downward revision to my wallet — ★★★★★
- 🏪 Casualness of dropping in — ★★★★★
This article is a personal opinion. KAZUKIN LAB has no relationship with Hidakaya. I'm just a customer. Prices in the illustration are for illustration only. All trademarks belong to their respective owners.
The illustration is an image based on KAZUKIN's experience. It may differ from real stores and dishes. It is not an official photo or advertisement.