Worth reading
63In 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
-310
Year-on-year change in operating profit (¥ million)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending March 202712 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,028 million+6.5%
Operating profit¥267 million-53.7%
Ordinary income¥229 million-58.9%
Net income¥147 million-46.6%
Gross Profit Margin66.2%
Operating profit margin1.4%
Selling, general and administrative expenses¥12,327 million
Full-year earnings forecast
Net Sales
¥83,000 million
Operating profit
¥3,200 million
Ordinary income
¥3,000 million
Net income
¥1,800 million
Dividend per share
¥10
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。
Net Sales22.9%
Operating profit8.4%
Ordinary income7.7%
Net income8.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
There has been no change to the initial full-year plan as of nowBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
M&A (すし弁慶)571
New stores634
Existing stores161
Franchise revenue33
Store closures-172
Other8
Operating profit
Impact on gross profit from sales factors in existing businesses384
M&A (すし弁慶)37
Personnel Expenses-521
Repair expenses-94
Supplies expense-57
Rent-49
Fees paid-45
Other-35
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Revenue growth at existing stores
- Contribution from new stores
- Rising Raw Material Prices
- Rising labor costs
New initiatives
- New Washoku Sato store openings in the Chugoku and Shikoku regions
- Accelerating openings of gourmet sushi restaurants, including Nigiri Chōjirō and Umaizushikan
- Expansion of the shareholder benefits program
- Promoting DX investment
Key KPIsA metric the company considers important as a management benchmark.
- Number of group stores784 Location
- Number of directly operated store openings, including contracted stores17 Location
- Progress toward the annual target for directly operated store openings42.5 %
- Customer NPS at the Kishidadō store90 % increase
- Sales comparison for new Nigiri Chōjirō stores65 % increase
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Customer countYear-on-year comparison presentedSubjectExisting Washoku Sato and Nigiri Chōjirō stores
- Average spend per customerYear-on-year comparison presentedSubjectExisting Washoku Sato and Nigiri Chōjirō stores
- Average customer spend at new stores in Okayama Prefecture13 % increase
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2030
Consolidated revenue115,000
Consolidated ordinary income6,000
ROEAbove 12.0%
Number of Stores at Period-End1,180
Financial targets
ROEAbove 8% in the fiscal year ending March 2027; above 12% in the fiscal year ending March 2030
ROICAbove 5% in the fiscal year ending March 2027; above 5% in the fiscal year ending March 2030
Actual results
ROE9.9% in the fiscal year ending March 2026
ROIC7.1% in the fiscal year ending March 2026
Equity ratio39.0% in the first quarter of the fiscal year ending March 2027
Number of stores and locations
End of period784 Location
Stores opened during the period9 Location
Store Closures During the Period5 Location
Number of employees
Permanent employees1,927 people
Part-time and temporary employees17,286 people
Reference dateEnd of March 2026
Annual Dividend
Annual dividend per share¥10
Payout ratio
Target of 20% or higher
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥19,028 million (YoY +6.5%) |
| Operating profit | ¥267 million (YoY -53.7%) |
| Ordinary income | ¥229 million (YoY -58.9%) |
| Net income | ¥147 million (YoY -46.6%) |
| Gross Profit Margin | 66.2% |
| Operating profit margin | 1.4% |
| Selling, general and administrative expenses | ¥12,327 million |
| Full-year earnings forecast | Net Sales ¥83,000 million / Operating profit ¥3,200 million / Ordinary income ¥3,000 million / Net income ¥1,800 million / Dividend per share ¥10 |
| Progress against full-year forecast | Net Sales 22.9% / Operating profit 8.4% / Ordinary income 7.7% / Net income 8.2% |
| Self-assessment against the plan | There has been no change to the initial full-year plan as of now |
| Breakdown of Factors Affecting the Change | Net Sales M&A (すし弁慶) 571 / New stores 634 / Existing stores 161 / Franchise revenue 33 / Store closures -172 / Other 8 / Operating profit Impact on gross profit from sales factors in existing businesses 384 / M&A (すし弁慶) 37 / Personnel Expenses -521 / Repair expenses -94 / Supplies expense -57 / Rent -49 / Fees paid -45 / Other -35 |
| Key KPIs | Indicator name Number of group stores / Value 784 Location / Year on year against the same period last year Not disclosed, Indicator name Number of directly operated store openings, including contracted stores / Value 17 Location / Year on year against the same period last year Not disclosed, Indicator name Progress toward the annual target for directly operated store openings / Value 42.5 % / Year on year against the same period last year Not disclosed, Indicator name Customer NPS at the Kishidadō store / Value 90 % increase / Year on year against the same period last year Not disclosed, Indicator name Sales comparison for new Nigiri Chōjirō stores / Value 65 % increase / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Customer count / Subject Existing Washoku Sato and Nigiri Chōjirō stores / Value Year-on-year comparison presented, Indicator name Average spend per customer / Subject Existing Washoku Sato and Nigiri Chōjirō stores / Value Year-on-year comparison presented, Indicator name Average customer spend at new stores in Okayama Prefecture / Value 13 % increase / Year on year against the same period last year Not disclosed |
| Number of stores and locations | End of period 784 Location / Stores opened during the period 9 Location / Store Closures During the Period 5 Location |
| Number of employees | Permanent employees 1,927 people / Part-time and temporary employees 17,286 people / Reference date End of March 2026 |
| Assumptions Underlying the Business Outlook | Revenue growth at existing stores, Contribution from new stores, Rising Raw Material Prices, Rising labor costs |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2030 / Consolidated revenue 115,000 / Consolidated ordinary income 6,000 / ROE Above 12.0% / Number of Stores at Period-End 1,180 |
| Financial targets | ROE Above 8% in the fiscal year ending March 2027; above 12% in the fiscal year ending March 2030 / ROIC Above 5% in the fiscal year ending March 2027; above 5% in the fiscal year ending March 2030 / Actual results ROE 9.9% in the fiscal year ending March 2026 / ROIC 7.1% in the fiscal year ending March 2026 / Equity ratio 39.0% in the first quarter of the fiscal year ending March 2027 |
| Annual Dividend | Annual dividend per share ¥10 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | Target of 20% or higher |
| New initiatives | New Washoku Sato store openings in the Chugoku and Shikoku regions, Accelerating openings of gourmet sushi restaurants, including Nigiri Chōjirō and Umaizushikan, Expansion of the shareholder benefits program, Promoting DX investment |
Items this document does not state (8)
Results for the three months of the current quarterSegment resultsRisk amount incorporated into the outlookAcquisition 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 M&A completed in the previous fiscal year and new store openings, but profit declined because the company prioritized securing personnel ahead of store openings, invested in DX, incurred higher SG&A expenses centered on personnel expenses, and saw sluggish growth in customer traffic due to poor weekend weather in June.
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.