The Rise of Eel Specialty Restaurants in Japan Amid Economic Shifts

Economic Challenges for Steak Restaurants

According to a study by Teikoku Databank, the depreciation of the Japanese yen has caused significant operational difficulties for steak restaurants reliant on American beef. Since 2022, many steak houses have been forced to close. In an effort to survive, some have raised prices, while others have pivoted to specializing in eel dishes, which cost about half as much as standard steak. This transition has provided a viable alternative for many struggling businesses.

The Emergence of “Unagi no Naruse”

In September 2022, a new eel specialty restaurant called “Unagi no Naruse” opened in Yokohama. Within two years, the chain rapidly expanded, launching multiple outlets from February 2023 onwards. By March 2024, it had over 100 locations, with plans to surpass 150 by the end of April. Historically, Japan has seen rapid expansions of other food chains such as “Tokyo Chikara Meshi” and “Ikinari! Steak,” as well as high-end toast chain “Nogami” and fried chicken specialist “Karaage no Tensai.” However, these chains often faced rapid declines due to overexpansion and intense competition.