Food & Life (TSE:3563) Beneish M-Score: -1.93 (As of Jun. 26, 2026)

What is Food & Life Beneish M-Score?

Food & Life TSE:3563 +4.63% 72 Beneish M-Score is -1.93 as of Jun. 26, 2026. GuruFocus rates TSE:3563 with a GF Score™ of 72/100 and a GF Value™ of 円4,981.74 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 357 Restaurants companies, Food & Life ranks worse than 90.76% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -1.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Food & Life's Beneish M-Score or its related term are showing as below:

TSE:3563' s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.4 Max: -1.35
Current: -1.93

During the past 12 years, the highest Beneish M-Score of Food & Life was -1.35. The lowest was -3.08. And the median was -2.40.

Food & Life Beneish M-Score Related Terms

Food & Life Beneish M-Score Historical Data

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The historical data trend for Food & Life's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Food & Life Beneish M-Score Chart

Food & Life Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-1.35

-3.08

-2.90

-2.93

-2.62

Food & Life Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.85	-2.83	-2.62	-2.24	-1.93

TSE:3563 vs MCD, SBUX, CMG: Beneish M-Score Comparison

For the Restaurants subindustry, Food & Life's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Food & Life Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Food & Life's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Food & Life's Beneish M-Score falls into.

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72GF Score

Food & Life Companies Ltd TSE:3563

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Food & Life Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Food & Life for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9249

0.528 * 1.0136

0.404 * 0.8882

0.892 * 1.2339

0.115 * 3.7327

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9615

4.679 * 0.02306

0.327 * 0.9413

-1.93

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円18,232 Mil.
Revenue was 131526 + 122656 + 116425 + 109335 = 円479,942 Mil.
Gross Profit was 74673 + 70123 + 65877 + 61385 = 円272,058 Mil.
Total Current Assets was 円102,577 Mil.
Total Assets was 円429,704 Mil.
Property, Plant and Equipment(Net PPE) was 円219,416 Mil.
Depreciation, Depletion and Amortization(DDA) was 円9,043 Mil.
Selling, General, & Admin. Expense(SGA) was 円227,608 Mil.
Total Current Liabilities was 円93,328 Mil.
Long-Term Debt & Capital Lease Obligation was 円197,080 Mil.
Net Income was 9243 + 8545 + 4865 + 6203 = 円28,856 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 18947 = 円18,947 Mil.

Total Receivables was 円15,975 Mil.
Revenue was 104673 + 99141 + 96462 + 88678 = 円388,954 Mil.
Gross Profit was 60594 + 57151 + 55214 + 50513 = 円223,472 Mil.
Total Current Assets was 円76,836 Mil.
Total Assets was 円374,371 Mil.
Property, Plant and Equipment(Net PPE) was 円191,880 Mil.
Depreciation, Depletion and Amortization(DDA) was 円33,266 Mil.
Selling, General, & Admin. Expense(SGA) was 円191,842 Mil.
Total Current Liabilities was 円76,558 Mil.
Long-Term Debt & Capital Lease Obligation was 円192,219 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(18232 / 479942)	/	(15975 / 388954)
	=	0.037988	/	0.041072
	=	0.9249

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(223472 / 388954)	/	(272058 / 479942)
	=	0.574546	/	0.566856
	=	1.0136

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (102577 + 219416) / 429704)	/	(1 - (76836 + 191880) / 374371)
	=	0.250663	/	0.28222
	=	0.8882

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	479942	/	388954
	=	1.2339

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(33266 / (33266 + 191880))	/	(9043 / (9043 + 219416))
	=	0.147753	/	0.039583
	=	3.7327

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(227608 / 479942)	/	(191842 / 388954)
	=	0.474241	/	0.493225
	=	0.9615

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((197080 + 93328) / 429704)	/	((192219 + 76558) / 374371)
	=	0.675833	/	0.717943
	=	0.9413

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(28856 - 0	-	18947)	/	429704
	=	0.02306

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Food & Life has a M-score of -1.93 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -1.93 mean?

Food & Life (TSE:3563) has a Beneish M-Score of -1.93 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Food & Life and its competitors. According to the industry distribution chart, Food & Life ranks #324 out of 357 companies in the Restaurants industry, placing it in the top 90.8%.

Is Food & Life's Beneish M-Score too high?

Food & Life's current Beneish M-Score is -1.93. Based on the distribution chart, Food & Life ranks #324 out of 357 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Food & Life has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Food & Life's Beneish M-Score compare to MCD and SBUX?

According to the Restaurants industry distribution chart, Food & Life ranks #324 out of 357 companies for Beneish M-Score. This places Food & Life in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Restaurants company?

A good Beneish M-Score depends on the Restaurants industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Food & Life and its competitors. Food & Life's current Beneish M-Score is -1.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Food & Life stock overvalued right now?

Based on GuruFocus' analysis, Food & Life (TSE:3563) is currently considered Significantly Overvalued. The stock's GF Value™ is 円4,981.74, compared to a current price of 円9,883.00 — trading 98.4% above its estimated fair value. The current Beneish M-Score is -1.93. Food & Life's overall GF Score™ is 72/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Food & Life (TSE:3563), the current Beneish M-Score is -1.93 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Food & Life (TSE:3563) Overvalued in 2026?

Based on GuruFocus' analysis, Food & Life stock appears to be overvalued. The current stock price of 円9,883.00 is trading 98.4% above its estimated GF Value™ of 円4,981.74. GuruFocus considers Food & Life to be Significantly Overvalued.

Key valuation signals for TSE:3563:

Beneish M-Score: -1.93
GF Value™: 円4,981.74 vs. price of 円9,883.00 (98.4% above fair value)
GF Score™: 72/100 with 3 warning signs

No single metric tells the full story. See the TSE:3563 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Food & Life Business Description

Industry Consumer Cyclical Restaurants

Comparable Companies TSE:7550 TSE:2702 TSE:3197 TSE:3350 TSE:3397 TSE:3387 TSE:7581 TSE:9861 TSE:3097 TSE:7616 MCD SBUX LSE:CPG CMG YUM TSX:QSR TSX:QSP.UN DRI YUMC TXRH

Other Exchanges 2G0:Germany

Address 1-22-2 Esaka-cho, Osaka Prefecture, Suita, JPN, 564-0063

Website https://www.food-and-life.co.jp

Food & Life Companies Ltd owns and operates a revolving sushi-style restaurant chain. The company operates under the Sushiro brand. It has operations in Japan, Korea, Taiwan, Hong Kong, Singapore, and Thailand.

72GF Score

Get the complete analysis for TSE:3563

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円9,883.00

Price

円4,981.74

GF Value

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