Komori
Financial Results Presentation3563FOOD & LIFE COMPANIES LTD.Retail

First-Half Financial Results Briefing Materials for the Fiscal Year Ending September 2026

Because first-half results exceeded the initial plan, full-year forecasts for revenue, operating profit and profit for the year, among other items, for FY2026 ending September were revised upward. The plan also calls for increasing the year-end dividend from ¥35 to ¥40 per share.

Worth reading
80Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
8000
¥ million (amount of upward revision to the full-year operating profit forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial Results PresentationSecond quarter of FY2026 ending September (first half)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales254,182 Millions of yen+24.7%
Operating profit28,080 Millions of yen+43.7%
Net income¥17,788 million +49.9%interim profit attributable to owners of the parent
Operating profit margin
Rate11.0%
Year-on-year change (points)Improved by 1.4 percentage points, from 9.6% to 11.0%
Results for the three months of the current quarter
Revenue
131,526 Millions of yen+25.7%
EBITDA
19,524 Millions of yen+38.2%
Operating profit
14,616 Millions of yen+46.8%
Interim profit attributable to owners of the parent
9,243 Millions of yen+61.0%
Cost of sales
56,853 Millions of yen
Full-year earnings forecast
Revenue
505,000 Millions of yen
Adjusted EBITDA
67,500 Millions of yen
Operating profit
48,500 Millions of yen
Profit for the period
30,000 Millions of yen
EPS
¥264.26
ROE
27.6 %
Year-on-year existing-store sales (domestic Sushiro)
106 %
Store openings110–120 stores
Cost ratio
43 %
Employee benefits expense ratio
26.6 %
Other SG&A expense ratio
20.8 %
Other income and expense ratio
0 %
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。
Revenue52.4% (versus initial full-year plan)
EBITDA62.6% (versus initial full-year plan)
Operating profit69.3% (versus initial full-year plan)
Profit for the period74.1% (versus initial full-year plan)
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Strong results, exceeding the plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating margin
Domestic Sushiro cost of sales▲0.6pt
Domestic Sushiro SG&A0.4pt
Overseas Sushiro cost of sales▲0.4pt
Overseas Sushiro SG&A1.4pt
KyoTaru business0.1pt
Domestic Sugitama business0.1pt
Parent-company SG&A▲0.2pt
Other income and expenses0.2pt
Change in interim profit margin
Cost of sales▲0.8pt
Personnel Expenses0.8pt
Other SG&A expenses1.3 ppt (utilities 0.4 ppt, depreciation and amortization 0.3 ppt, payment fees 0.1 ppt, other 0.5 ppt)
Other income and expenses0.2pt
Finance0.3pt
Taxes and other items▲0.5pt
Non-controlling interests▲0.1pt
New initiatives
  • Upward Revision to Full-Year Earnings Forecast
  • ¥5 increase in the year-end dividend per share
  • Two-for-one stock split, effective 1 July 2026
  • Changes to the shareholder benefits program
  • Revision of the Sushiro brand logo and introduction of a logo using the alphabetic spelling
  • Strengthening overseas talent development and the supply chain
  • Plan to open the first Sushiro store in New York
Key KPIsA metric the company considers important as a management benchmark.
  • Store count1,231 stores
    Year on year against the same period last yearUp 57 stores
  • Year-on-year sales at existing domestic Sushiro stores109 %
  • Total overseas stores279 stores
    Year on year against the same period last yearUp 72 stores
  • Equity ratio26.3 %
    Year on year against the same period last yearImproved by 2.3 ppt
  • Net Debt/EBITDA0.2 times
    Year on year against the same period last yearDown 0.2 times
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Sales at existing domestic Sushiro stores
106.1 % April 2026
Number of Customers
103.1 % April 2026
Average Spend per Customer
102.9 % April 2026
Segment results
Domestic Sushiro business
Revenue
FY25 first half129,097 Millions of yen
FY26 first half144,539 Millions of yen
Year on year against the same period last year+12.0%
EBITDA
FY25 first half18,358 Millions of yen
FY26 first half20,709 Millions of yen
Year on year against the same period last year+12.8%
Operating profit
FY25 first half15,048 Millions of yen
FY26 first half16,627 Millions of yen
Year on year against the same period last year+10.5%
Number of stores661
Overseas Sushiro business
Revenue
FY25 first half58,805 Millions of yen
FY26 first half94,065 Millions of yen
Year on year against the same period last year+60.0%
EBITDA
FY25 first half11,685 Millions of yen
FY26 first half19,927 Millions of yen
Year on year against the same period last year+70.5%
Operating profit
FY25 first half8,107 Millions of yen
FY26 first half15,627 Millions of yen
Year on year against the same period last year+92.8%
Number of stores279
KyoTaru business
Revenue
FY25 first half12,029 Millions of yen
FY26 first half11,192 Millions of yen
Year on year against the same period last year-7.0%
EBITDA
FY25 first half555 Millions of yen
FY26 first half888 Millions of yen
Year on year against the same period last year+59.9%
Operating profit
FY25 first half407 Millions of yen
FY26 first half729 Millions of yen
Year on year against the same period last year+79.0%
Number of stores189
Domestic Sugitama business
Revenue
FY25 first half3,875 Millions of yen
FY26 first half4,312 Millions of yen
Year on year against the same period last year+11.3%
EBITDA
FY25 first half230 Millions of yen
FY26 first half373 Millions of yen
Year on year against the same period last year+62.4%
Operating profit
FY25 first half120 Millions of yen
FY26 first half238 Millions of yen
Year on year against the same period last year+99.2%
Number of stores102
Medium-term management plan targets
The new medium-term management plan (FY2027–FY2029) is scheduled to be announced and explained when full-year FY2026 results are released. Specific target figures are Not disclosed
Financial targets
ROE
Actual results26.3 %
Full-year outlook27.6 %
Equity ratio
Actual results26.3 %
Net Debt/EBITDA
Actual results0.2 times
Number of stores and locations
Number of Stores at Period-End1,231 stores
Increase during the period57 stores
Decrease during the period24 stores
Breakdown661 domestic Sushiro stores, 272 overseas Sushiro stores, 102 domestic and 7 overseas Sugidama stores, including Sakabayashi, 85 Kaitenzushi Misaki/Misakimaru stores, and 104 takeaway and other locations
Annual Dividend
Annual dividend per share¥40before stock split
End of period¥40before stock split
Dividend per share after stock split¥20before stock split
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredSecond quarter of FY2026 ending September (first half)
Net Sales254,182 Millions of yen (YoY +24.7%)
Operating profit28,080 Millions of yen (YoY +43.7%)
Net income¥17,788 million (interim profit attributable to owners of the parent) (YoY +49.9%)
Operating profit marginRate 11.0% / Year-on-year change (points) Improved by 1.4 percentage points, from 9.6% to 11.0%
Results for the three months of the current quarterRevenue 131,526 Millions of yen (YoY +25.7%) / EBITDA 19,524 Millions of yen (YoY +38.2%) / Operating profit 14,616 Millions of yen (YoY +46.8%) / Interim profit attributable to owners of the parent 9,243 Millions of yen (YoY +61.0%) / Cost of sales 56,853 Millions of yen
Full-year earnings forecastRevenue 505,000 Millions of yen / Adjusted EBITDA 67,500 Millions of yen / Operating profit 48,500 Millions of yen / Profit for the period 30,000 Millions of yen / EPS ¥264.26 / ROE 27.6 % / Year-on-year existing-store sales (domestic Sushiro) 106 % / Store openings 110–120 stores / Cost ratio 43 % / Employee benefits expense ratio 26.6 % / Other SG&A expense ratio 20.8 % / Other income and expense ratio 0 %
Progress against full-year forecastRevenue 52.4% (versus initial full-year plan) / EBITDA 62.6% (versus initial full-year plan) / Operating profit 69.3% (versus initial full-year plan) / Profit for the period 74.1% (versus initial full-year plan) / Overseas Sushiro business Not disclosed / Domestic Sushiro business Not disclosed
Self-assessment against the planStrong results, exceeding the plan
Segment resultsDomestic Sushiro business Revenue FY25 first half 129,097 Millions of yen / FY26 first half 144,539 Millions of yen / yoy_pct 12 Millions of yen / EBITDA FY25 first half 18,358 Millions of yen / FY26 first half 20,709 Millions of yen / yoy_pct 12.8 Millions of yen / Operating profit FY25 first half 15,048 Millions of yen / FY26 first half 16,627 Millions of yen / yoy_pct 10.5 Millions of yen / Number of stores 661 / Overseas Sushiro business Revenue FY25 first half 58,805 Millions of yen / FY26 first half 94,065 Millions of yen / yoy_pct 60 Millions of yen / EBITDA FY25 first half 11,685 Millions of yen / FY26 first half 19,927 Millions of yen / yoy_pct 70.5 Millions of yen / Operating profit FY25 first half 8,107 Millions of yen / FY26 first half 15,627 Millions of yen / yoy_pct 92.8 Millions of yen / Number of stores 279 / KyoTaru business Revenue FY25 first half 12,029 Millions of yen / FY26 first half 11,192 Millions of yen / yoy_pct -7 Millions of yen / EBITDA FY25 first half 555 Millions of yen / FY26 first half 888 Millions of yen / yoy_pct 59.9 Millions of yen / Operating profit FY25 first half 407 Millions of yen / FY26 first half 729 Millions of yen / yoy_pct 79 Millions of yen / Number of stores 189 / Domestic Sugitama business Revenue FY25 first half 3,875 Millions of yen / FY26 first half 4,312 Millions of yen / yoy_pct 11.3 Millions of yen / EBITDA FY25 first half 230 Millions of yen / FY26 first half 373 Millions of yen / yoy_pct 62.4 Millions of yen / Operating profit FY25 first half 120 Millions of yen / FY26 first half 238 Millions of yen / yoy_pct 99.2 Millions of yen / Number of stores 102
Breakdown of Factors Affecting the ChangeChange in operating margin Domestic Sushiro cost of sales ▲0.6pt / Domestic Sushiro SG&A 0.4pt / Overseas Sushiro cost of sales ▲0.4pt / Overseas Sushiro SG&A 1.4pt / KyoTaru business 0.1pt / Domestic Sugitama business 0.1pt / Parent-company SG&A ▲0.2pt / Other income and expenses 0.2pt / Change in interim profit margin Cost of sales ▲0.8pt / Personnel Expenses 0.8pt / Other SG&A expenses 1.3 ppt (utilities 0.4 ppt, depreciation and amortization 0.3 ppt, payment fees 0.1 ppt, other 0.5 ppt) / Other income and expenses 0.2pt / Finance 0.3pt / Taxes and other items ▲0.5pt / Non-controlling interests ▲0.1pt
Key KPIsIndicator name Store count / Value 1,231 stores / Year on year against the same period last year Up 57 stores, Indicator name Year-on-year sales at existing domestic Sushiro stores / Value 109 % / Year on year against the same period last year Not disclosed, Indicator name Total overseas stores / Value 279 stores / Year on year against the same period last year Up 72 stores, Indicator name Equity ratio / Value 26.3 % / Year on year against the same period last year Improved by 2.3 ppt, Indicator name Net Debt/EBITDA / Value 0.2 times / Year on year against the same period last year Down 0.2 times
Unit price and quantity metricsSales at existing domestic Sushiro stores Value 106.1 % (April 2026) / Number of Customers Value 103.1 % (April 2026) / Average Spend per Customer Value 102.9 % (April 2026)
Number of stores and locationsNumber of Stores at Period-End 1,231 stores / Increase during the period 57 stores / Decrease during the period 24 stores / Breakdown 661 domestic Sushiro stores, 272 overseas Sushiro stores, 102 domestic and 7 overseas Sugidama stores, including Sakabayashi, 85 Kaitenzushi Misaki/Misakimaru stores, and 104 takeaway and other locations
Medium-term management plan targetsThe new medium-term management plan (FY2027–FY2029) is scheduled to be announced and explained when full-year FY2026 results are released. Specific target figures are Not disclosed
Financial targetsROE Actual results 26.3 % / Full-year outlook 27.6 % / Equity ratio Actual results 26.3 % / Net Debt/EBITDA Actual results 0.2 times
Annual DividendAnnual dividend per share ¥40 (before stock split) / Interim Not disclosed / End of period ¥40 (before stock split) / Dividend per share after stock split ¥20 (before stock split)
New initiativesUpward Revision to Full-Year Earnings Forecast, ¥5 increase in the year-end dividend per share, Two-for-one stock split, effective 1 July 2026, Changes to the shareholder benefits program, Revision of the Sushiro brand logo and introduction of a logo using the alphabetic spelling, Strengthening overseas talent development and the supply chain, Plan to open the first Sushiro store in New York
Items this document does not state (12)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioAcquisition 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.

First-half results were strong and exceeded the plan. Overseas performance grew, led by mainland China, while in Japan, contributions came from enhanced customer experiences through improved product quality, Digi-Sushiro and IP collaborations.

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First-Half Financial Results Briefing Materials for the Fiscal Year Ending September 2026 | FOOD & LIFE COMPANIES LTD. (3563) timely disclosure | Komori