Globalization

「In overseas markets, which are currently in the investment phase, we are developing specialty shokupan bread shops, mainly in Shanghai, China. Including Ginza Nishikawa Xingye Taikoo Hui, China’s first specialty shokupan café-restaurant, which opened in September 2025, we have established a three-store network in Shanghai that serves as a model for franchise expansion. These stores were selected for three consecutive years in 2023, 2024 and 2025 for POP Shanghai 100, a selection of Shanghai’s 100 leading establishments by a prominent Shanghai lifestyle media outlet. Going forward, we will promote franchise expansion throughout China while concentrating management resources on markets with significant growth opportunities.」

「Including “Ginza Nishikawa Xingye Taikoo Hui,” China’s first specialty shokupan café-restaurant, which opened last September, we established 3 Shanghai locations serving as a model for franchise expansion.」

「Overseas, we opened China’s first specialty shokupan restaurant, “Ginza Nishikawa Xingye Taikoo Hui,” in September last year. This completed 3 Shanghai locations serving as a model for franchise expansion.」

「Overseas, we opened China’s first specialty shokupan restaurant, “Ginza Nishikawa Xingye Taikoo Hui,” in September last year. This completed 3 Shanghai locations serving as a model for franchise expansion.」

「Overseas, China's first specialty shokupan bakery restaurant opened in September. New stores are also scheduled to open in Taipei, Hong Kong and other locations by year-end.」

「The Group is also preparing and planning to develop its franchise business in Taiwan and the United States.」

「In China, “Shanghai Panlong Tiandi,” China’s first shokupan specialty bakery café and restaurant, opened as the fourth store and is performing steadily.」

「China has traditional breakfast foods such as mantou, rice cakes, congee and noodles, so the shokupan market remains largely undeveloped and we are incurring substantial development costs. However, China's food culture is becoming more Westernized as the coffee market expands within its tea culture. Although profitability will be difficult to achieve for the time being, we will continue to actively develop the specialty shokupan bakery market in China as an investment for the future.」

「In overseas markets, we opened Shanghai Xintiandi last May, and it became significant enough to cause a social phenomenon of sorts. We have now entered the Shenzhen area, where our third store opened on 20 January this year. Our fourth store in Shanghai is scheduled to open in April.」

「Following the opening of Shanghai Xintiandi, our second overseas store, we opened Shanghai Zhongshan Park, our third overseas store, on 29 October. We will continue to target market expansion in China.」

「In Japan, the Ginza N志かわ segment has become increasingly competitive over the past 2 years as more companies have entered the specialty shokupan bakery market, prompting us to strengthen overseas expansion. On 5 May, we opened Shanghai Xintiandi, our second overseas store. Despite prices roughly twice those in Japan, the store has continued to sell out every day, and its performance has been reflected in the Group's results since the second quarter. We will continue to target expansion in the Chinese market.」

「Ginza N志かわ became the first specialty shokupan bakery in its industry to enter the U.S. market, opening the Santa Monica store last July. In May this year, it opened Shanghai Xintiandi, its second overseas store. The store attracted considerable attention on social media before opening, and despite prices roughly twice those in Japan, customers have continued to purchase its products every day, with sellouts continuing. Going forward, we plan to open more stores as we accelerate expansion into overseas markets, particularly China.」

「In the Ginza N志かわ business, the Santa Monica, U.S. store opened in July as the first overseas location, and overseas expansion is progressing smoothly.」

「In July, the Group opened its first overseas store in Santa Monica, United States, marking the start of its overseas expansion.」

「As part of its global strategy, the Group has a subsidiary in the Chinese market, 欧愛水基環保科技（蘇州）有限公司, which manufactures and sells electrolyzed hydrogen-water generators, and is working to strengthen and expand its distributor network. It is also working to expand its market, particularly in Asian countries, including by establishing a local subsidiary in India.」

「Under this medium-term management plan, the Group has pursued 1 reform, the renewal of the Sales Division, and 3 investments, expansion of production facilities in Japan and overseas, investment in Asia, and the implementation of the large-scale sales promotion campaign “Premium 50.”」

「The Group has pursued 3 investments: expansion of production facilities in Japan and overseas, investment in Asia, and the large-scale sales promotion campaign “Premium 50.”」

「As part of its overseas strategy for the “first year of Asia,” the Group established a local subsidiary in India in October and put in place a structure that can begin operations next fiscal year. It also held a “Water Summit,” bringing together partner companies and distributors from 6 Asian countries to understand sales conditions in each country and share information.」

「This fiscal year, designated the “first year of Asia,” the Group will pursue an aggressive overseas strategy, including the existing Chinese subsidiary, the local Indian subsidiary to be established during the fiscal year, and further expansion into Asia.」

「An overseas strategy for the “first year of Asia,” including the existing Chinese subsidiary, the local Indian subsidiary to be established this summer, and further expansion into Asia.」

「As part of its global strategy, the Group has a subsidiary in the Chinese market, 欧愛水基環保科技（蘇州）有限公司, which manufactures and sells electrolyzed hydrogen-water generators, and is working to strengthen and expand its distributor network.」

「This exhibition center is used not only to promote sales in China, but also as a venue for business negotiations and an information hub serving the global market, including Asia, Europe and the United States.」

「Since its listing, the Group has pursued its business based on 2 major policies: “expanding its business domains” and “globalization,” with an eye to the future.」