Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-8
¥100 million (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportSecond quarter (interim period) of the fiscal year ending February 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥86,091 million
Operating profit¥4,121 million
Net income¥2,697 million profit attributable to owners of the parent
Operating profit margin4.8 %
Results for the three months of the current quarter
Period CoveredSecond quarter of the fiscal year ending February 2027 (June–August)
Revenue
¥42,813 million
Operating profit
¥742 million
Income before taxes
¥534 million
Profit for the period
¥430 million
Profit for the period attributable to owners of the parent
¥480 million
Adjusted EBITDA
¥5,505 million
Adjusted operating profit
¥1,044 million
Full-year earnings forecast
Revenue
¥171,000 million
Operating profit
¥9,000 million
Income before taxes
¥8,000 million
Profit for the period
¥6,000 million
Profit for the period attributable to owners of the parent
¥5,700 million
Adjusted EBITDA
¥27,100 million
Adjusted operating profit
¥11,000 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Revenue50.3%
Operating profit45.8%
Income before taxes47.0%
Profit for the period46.5%
Profit for the period attributable to owners of the parent47.3%
Adjusted EBITDA48.2%
Adjusted operating profit41.3%
By segmentCR: revenue 50.5%, category CF 56.7%; Specialty Brands: 49.7%, 49.6%; Izakaya: 46.4%, 36.6%; Overseas: 56.3%, 45.5%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Consolidation contributions from Ron and HazelwoodRevenue increase: ¥2.9 billion
- Weak performance at Kagonoya and Isomaru Suisan due to poor weather
- Costs related to the merger with SFPHD¥300 million
New initiatives
- Apply a 10% late-night surcharge at Isomaru Suisan from October
- Open Isomaru Suisan stores in regional areas and change the formats of underperforming stores in central urban areas
- Bring 10 Koike Group stores into the Group
- Bring North American Hazelwood Food + Drink into the Group
- Open a new Wildflower Thunderbird store
- Open MACCHA HOUSE’s first store in Indonesia
- Upcycling partnership with ChopValue Japan for used disposable chopsticks
- Plan to add 10 Koike Group stores to the stores where shareholder benefits can be used
Key KPIsA metric the company considers important as a management benchmark.
- Consolidated same-store year-on-year change101.5%
- CR same-store year-on-year change102.6%
- Specialty Brands same-store year-on-year change98.6%
- Izakaya same-store year-on-year change97.4%
- Overseas same-store year-on-year change (local currency)100.5%
- Number of Isomaru app members14 10,000 people
- Number of stores with the Shabu-Sai logo and other elements changed40 stores
- Sales after format changes at underperforming stores in central urban areas+40%
Segment results
CR
Revenue
¥30,158 million
Category cash flow
¥3,564 million
Year-on-year change
Revenue+¥509 million
Category cash flow+¥123 million
Specialty brands
Revenue
¥26,118 million
Category cash flow
¥2,850 million
Year-on-year change
Revenue+¥496 million
Category cash flow-¥349 million
Izakaya (former SFP)
Revenue
¥15,507 million
Category cash flow
¥1,040 million
Year-on-year change
Revenue+¥163 million
Category cash flow△¥169 million
Overseas expansion
Revenue
¥14,416 million
Category cash flow
¥1,209 million
Year-on-year change
Revenue+¥1,717 million
Category cash flow+¥193 million
Medium-term management plan targets
DetailsEvolution of intrinsic value, synergistic M&A, and overseas business expansion
Number of stores and locations
Number of Stores at Period-End1,130 stores
During the period
New Store Openings17 stores
Store closures28 stores
M&A16 stores
Change in business format13 stores
Annual Dividend
Annual¥5.00
Interim¥2.50
End of period¥2.50
Payout ratio
Effective dividend payout ratio based on adjusted EBITDATargeting 14% or higher
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending February 2027 |
| Net Sales | ¥86,091 million |
| Operating profit | ¥4,121 million |
| Net income | ¥2,697 million (profit attributable to owners of the parent) |
| Operating profit margin | 4.8 % |
| Results for the three months of the current quarter | Period Covered Second quarter of the fiscal year ending February 2027 (June–August) / Revenue ¥42,813 million / Operating profit ¥742 million / Income before taxes ¥534 million / Profit for the period ¥430 million / Profit for the period attributable to owners of the parent ¥480 million / Adjusted EBITDA ¥5,505 million / Adjusted operating profit ¥1,044 million |
| Full-year earnings forecast | Revenue ¥171,000 million / Operating profit ¥9,000 million / Income before taxes ¥8,000 million / Profit for the period ¥6,000 million / Profit for the period attributable to owners of the parent ¥5,700 million / Adjusted EBITDA ¥27,100 million / Adjusted operating profit ¥11,000 million |
| Progress against full-year forecast | Revenue 50.3% / Operating profit 45.8% / Income before taxes 47.0% / Profit for the period 46.5% / Profit for the period attributable to owners of the parent 47.3% / Adjusted EBITDA 48.2% / Adjusted operating profit 41.3% / By segment CR: revenue 50.5%, category CF 56.7%; Specialty Brands: 49.7%, 49.6%; Izakaya: 46.4%, 36.6%; Overseas: 56.3%, 45.5% |
| Segment results | CR Revenue ¥30,158 million / Category cash flow ¥3,564 million / Year-on-year change Revenue +¥509 million / Category cash flow +¥123 million / Specialty brands Revenue ¥26,118 million / Category cash flow ¥2,850 million / Year-on-year change Revenue +¥496 million / Category cash flow -¥349 million / Izakaya (former SFP) Revenue ¥15,507 million / Category cash flow ¥1,040 million / Year-on-year change Revenue +¥163 million / Category cash flow △¥169 million / Overseas expansion Revenue ¥14,416 million / Category cash flow ¥1,209 million / Year-on-year change Revenue +¥1,717 million / Category cash flow +¥193 million |
| Breakdown of Factors Affecting the Change | Factors Consolidation contributions from Ron and Hazelwood / Amount Revenue increase: ¥2.9 billion, Factors Weak performance at Kagonoya and Isomaru Suisan due to poor weather / Amount Not disclosed, Factors Costs related to the merger with SFPHD / Amount ¥300 million |
| Key KPIs | Indicator name Consolidated same-store year-on-year change / Value 101.5%, Indicator name CR same-store year-on-year change / Value 102.6%, Indicator name Specialty Brands same-store year-on-year change / Value 98.6%, Indicator name Izakaya same-store year-on-year change / Value 97.4%, Indicator name Overseas same-store year-on-year change (local currency) / Value 100.5%, Indicator name Number of Isomaru app members / Value 14 10,000 people, Indicator name Number of stores with the Shabu-Sai logo and other elements changed / Value 40 stores, Indicator name Sales after format changes at underperforming stores in central urban areas / Value +40% |
| Number of stores and locations | Number of Stores at Period-End 1,130 stores / During the period New Store Openings 17 stores / Store closures 28 stores / M&A 16 stores / Change in business format 13 stores |
| Medium-term management plan targets | Details Evolution of intrinsic value, synergistic M&A, and overseas business expansion / Target value Not disclosed / Target fiscal year Not disclosed |
| Annual Dividend | Annual ¥5.00 / Interim ¥2.50 / End of period ¥2.50 |
| Payout ratio | Effective dividend payout ratio based on adjusted EBITDA Targeting 14% or higher / FY2027/2 forecast Not disclosed |
| New initiatives | Apply a 10% late-night surcharge at Isomaru Suisan from October, Open Isomaru Suisan stores in regional areas and change the formats of underperforming stores in central urban areas, Bring 10 Koike Group stores into the Group, Bring North American Hazelwood Food + Drink into the Group, Open a new Wildflower Thunderbird store, Open MACCHA HOUSE’s first store in Indonesia, Upcycling partnership with ChopValue Japan for used disposable chopsticks, Plan to add 10 Koike Group stores to the stores where shareholder benefits can be used |
Items this document does not state (14)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesSelf-assessment against the planUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Revenue increased due to strong performance by the bakery and noodle brands, in addition to contributions from the consolidation of Ron and North American Hazelwood. Operating profit declined due to weak performance at “Kagonoya” and “Isomaru Suisan” caused by poor weather, as well as the recognition of ¥300 million in merger-related costs for SFPHD.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.