Steak Gusto is ending its monthly all-you-can-eat steak service with a final event on May 29, 2023 [3].
The decision highlights the growing pressure on Japanese restaurant margins as the cost of imported meat surges. This shift reflects a broader economic struggle for dining chains attempting to maintain low-cost menus amid volatile global commodity prices.
Owned by Skylark Holdings, the nationwide chain announced the termination of the popular service on May 11, 2023 [4]. The company said the move was due to a phenomenon known as "beef shock," driven by a combination of reduced production in the U.S. and the depreciation of the yen [1].
These economic factors have significantly impacted the wholesale market. Specifically, the wholesale price of U.S. shoulder-loin has risen by approximately 50% compared to three years earlier [1]. This price hike has made the high-volume, fixed-price model of all-you-can-eat dining unsustainable for the chain.
Throughout the duration of the all-you-can-eat series, the company served a cumulative total of 170,000 meals [1]. The loss of the service has sparked reactions from the public, with one Twitter user describing the news as "really shocking" [2].
In a statement shared via its official X account, Steak Gusto said, "For the final time, we will grill each piece carefully with feelings of gratitude" [1].
“The wholesale price of U.S. shoulder-loin has risen by approximately 50% compared to three years earlier.”
The termination of Steak Gusto's all-you-can-eat service serves as a bellwether for the Japanese food service industry. As the yen weakens and U.S. beef supplies tighten, the 'beef shock' forces operators to choose between aggressive price hikes for consumers or the elimination of high-value promotions. This trend suggests that the era of ultra-cheap, unlimited meat offerings in Japan may be ending as global supply chain pressures override local competitive pricing strategies.
