Financial Summary for the Third Quarter of Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated)

Overview of Operating Results

During the cumulative consolidated third quarter period of the fiscal year ending March 2026, net sales increased 20.5% YoY to 136,688 million yen, driven by growth in same-store sales and new store openings. Operating income rose 53.0% to 6,400 million yen, ordinary income increased 48.1% to 7,015 million yen, and net income attributable to owners of parent for the quarter grew 52.4% to 3,308 million yen. The cost of sales ratio rose from 35.7% in the previous year to 36.7%, but selling, general and administrative expenses ratio improved from 60.6% to 58.6%, and FL costs decreased from 66.3% to 66.0%. The total store count, domestic and overseas combined, reached 1,436 stores (including 5 domestic franchise stores and 24 overseas stores), continuing expansion centered on the Gyumeshi (beef bowl) format with 1,169 stores.

Overview of Financial Position and Outlook

Total assets increased by 21.281 billion yen from the end of the previous consolidated fiscal year to 125.436 billion yen, and net assets rose by 2.859 billion yen to 48.474 billion yen. Liabilities increased by 18.422 billion yen mainly due to increased short-term borrowings, causing the equity ratio to decline from 43.8% to 38.6%. The full-year earnings guidance for the fiscal year ending March 2026 has been revised to net sales of 182.4 billion yen (18.3% increase YoY), operating income of 6.5 billion yen (47.5% increase YoY), and net income attributable to owners of parent of 2.95 billion yen (34.9% increase YoY). The company plans to continue new store openings, renovate existing stores, invest in human resources, and promote cost structure reforms to improve profitability.