Matsuya Foods Holdings (9887) Q2 2025 earnings summary

Executive summary

• Revenue increased 22.6% year-over-year to ¥72,387 million, driven by strong existing store sales and new store openings.

• Operating profit rose 17.3% year-over-year to ¥1,884 million, and ordinary profit grew 17.1% to ¥2,206 million.

• Net income attributable to shareholders declined 41.0% year-over-year to ¥783 million due to higher costs and tax expenses.

• Aggressive investments in new store openings, renovations, and human resources continued.

Financial highlights

• Gross margin decreased as cost of sales ratio rose from 34.2% to 35.1% year-over-year.

• SG&A ratio improved from 63.1% to 62.3% year-over-year.

• FL cost ratio (food and labor) remained stable at 66.5%.

• Total assets increased to ¥94,347 million, up ¥3,227 million from the previous year-end.

• Cash and equivalents decreased by ¥4,054 million to ¥11,965 million at period-end.

Outlook and guidance

• Full-year revenue forecast revised to ¥149,500 million, up 17.2% year-over-year.

• Full-year operating profit forecast at ¥3,000 million, net income forecast at ¥1,200 million, both revised.

• Dividend forecast maintained at ¥24 per share for the year.

• Management remains cautious due to yen depreciation and rising resource costs.