Worth reading
59In focus
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
40.5
¥100 million (quarterly net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary Materials to the Earnings ReportSecond quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,365.7 100 million+107.5%
Operating profit¥42.4 100 million+147.3%
Ordinary income¥57.1 100 million+143.3%
Net income¥40.5 100 million +145.2%quarterly net income attributable to owners of the parent
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。The document reports five-year average results of 49.1% for revenue, 40.2% for operating income, 41.5% for ordinary income, and 38.8% for quarterly net income. Progress against the full-year forecast by line item: Not disclosed
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Meat business, processed foods and other businesses, gross profit, selling, general and administrative expenses (personnel expenses, logistics costs, amortisation of goodwill and other expenses), non-operating income and expenses, and tax expenses. The chart shows ▲¥1.5 billion for one item.
New initiatives
Realising synergies with Osabe Foods, bringing Tahara Farm into the group, plans to establish a new slaughtering and processing facility in Aomori Prefecture, and establishing a Wagyu beef export system through two major bases in Kyushu and TohokuKey KPIsA metric the company considers important as a management benchmark.
Hamburger sales: up 34% over 3 years. Equity ratio 42.3%, D/E ratio 0.85x, number of shareholders changed from 13,802 to 42,413, share price changed from ¥968 to ¥1,487, P/B ratio changed from 0.71x to 0.87x.Segment results
Meat: revenue ¥181.8 billion, gross profit ¥15.8 billion, revenue year-on-year 104.7%, gross profit year-on-year 108.6%. Processed foods: revenue ¥52.0 billion, gross profit ¥6.4 billion, revenue year-on-year 118.8%, gross profit year-on-year 138.6%. Other: revenue ¥2.6 billion, gross profit ¥0.9 billion, revenue year-on-year 102.9%, gross profit year-on-year 91.1%.Medium-term management plan targets
Medium-Term Management Plan 2030: targets for the fiscal year ending March 2031 of revenue of ¥550.0 billion, ordinary income of ¥16.0 billion, EBITDA of ¥21.0 billion, ROIC of at least 6.0%, and ROE of at least 10.0%. Total investment plan: ¥70.0 billion.Financial targets
ROIC of at least 6.0% and ROE of at least 10.0%. Actual results include an equity ratio of 42.3% and a D/E ratio of 0.85x.Number of stores and locations
Approximately 50 sales offices nationwide. Number of stores at period-end and openings and closures during the period: Not disclosedAcquisition of treasury shares
Approximately ¥1.5 billion in May 2026. The materials also report past share repurchases of approximately ¥0.4 billion in November 2025 and approximately ¥1.5 billion in November 2024.Gross profit
¥231.5 100 million+114.3%
| Item | Details |
|---|---|
| Document type | Supplementary Materials to the Earnings Report |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥2,365.7 100 million (YoY +107.5%) |
| Operating profit | ¥42.4 100 million (YoY +147.3%) |
| Ordinary income | ¥57.1 100 million (YoY +143.3%) |
| Net income | ¥40.5 100 million (quarterly net income attributable to owners of the parent) (YoY +145.2%) |
| Gross profit | ¥231.5 100 million (YoY +114.3%) |
| Progress against full-year forecast | The document reports five-year average results of 49.1% for revenue, 40.2% for operating income, 41.5% for ordinary income, and 38.8% for quarterly net income. Progress against the full-year forecast by line item: Not disclosed |
| Segment results | Meat: revenue ¥181.8 billion, gross profit ¥15.8 billion, revenue year-on-year 104.7%, gross profit year-on-year 108.6%. Processed foods: revenue ¥52.0 billion, gross profit ¥6.4 billion, revenue year-on-year 118.8%, gross profit year-on-year 138.6%. Other: revenue ¥2.6 billion, gross profit ¥0.9 billion, revenue year-on-year 102.9%, gross profit year-on-year 91.1%. |
| Breakdown of Factors Affecting the Change | Meat business, processed foods and other businesses, gross profit, selling, general and administrative expenses (personnel expenses, logistics costs, amortisation of goodwill and other expenses), non-operating income and expenses, and tax expenses. The chart shows ▲¥1.5 billion for one item. |
| Key KPIs | Hamburger sales: up 34% over 3 years. Equity ratio 42.3%, D/E ratio 0.85x, number of shareholders changed from 13,802 to 42,413, share price changed from ¥968 to ¥1,487, P/B ratio changed from 0.71x to 0.87x. |
| Number of stores and locations | Approximately 50 sales offices nationwide. Number of stores at period-end and openings and closures during the period: Not disclosed |
| Medium-term management plan targets | Medium-Term Management Plan 2030: targets for the fiscal year ending March 2031 of revenue of ¥550.0 billion, ordinary income of ¥16.0 billion, EBITDA of ¥21.0 billion, ROIC of at least 6.0%, and ROE of at least 10.0%. Total investment plan: ¥70.0 billion. |
| Financial targets | ROIC of at least 6.0% and ROE of at least 10.0%. Actual results include an equity ratio of 42.3% and a D/E ratio of 0.85x. |
| Acquisition of treasury shares | Approximately ¥1.5 billion in May 2026. The materials also report past share repurchases of approximately ¥0.4 billion in November 2025 and approximately ¥1.5 billion in November 2024. |
| New initiatives | Realising synergies with Osabe Foods, bringing Tahara Farm into the group, plans to establish a new slaughtering and processing facility in Aomori Prefecture, and establishing a Wagyu beef export system through two major bases in Kyushu and Tohoku |
Items this document does not state (15)
Operating profit marginSelling, general and administrative expensesResults for the three months of the current quarterFull-year earnings forecastSelf-assessment against the planUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendPayout ratioCapital 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.The company cites the consolidation of Osabe Foods in the processed foods business, as well as solid demand for existing products such as hamburgers, as factors behind the increase in profit. It also states that gross profit generated exceeded the increase in selling, general and administrative expenses.
How to read this page
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