McDonald's Holdings Company (Japan) (2702) Q3 2026 earnings summary

Executive summary

• 9M System-wide Sales rose 8.2% to ¥714,744 million, up ¥54,180 million YoY; same-store sales increased 6.0%, extending the growth streak to 44 consecutive quarters.

• Operating income grew despite lower reported net sales and continued pressure from rising ingredient and restaurant operating costs.

Financial highlights

• 9M net sales were ¥309,911 million, down 0.8% YoY; operating income was ¥47,608 million, up 11.0%, and ordinary income was ¥48,241 million, up 13.7%.

• Net income attributable to owners of parent was ¥30,403 million, up 12.6% YoY; comprehensive income was ¥30,382 million, also up 12.6%.

• Gross profit rose to ¥71,854 million from ¥67,106 million; SG&A was ¥24,245 million versus ¥24,204 million.

• Reported net sales declined ¥2,413 million YoY, as company-operated restaurant sales fell ¥17,366 million and franchised restaurant revenue increased ¥14,952 million.

Outlook and guidance

• Revised FY2026 forecast: System-wide Sales ¥960.0bn (+8.0% YoY; +1.3% vs. prior forecast), net sales ¥412.0bn (-1.1% YoY; +1.0% vs. prior forecast), and operating income ¥57.5bn (+8.0% YoY; +3.6% vs. prior forecast).

• FY2026 ordinary income is forecast at ¥57.5bn (+10.5% YoY); net income at ¥36.5bn (+7.6% YoY; +4.3% vs. prior forecast).

• FY2026 EPS forecast is ¥274.52; annual dividend forecast remains ¥64 per share.

• Medium-term 2025–2027 targets include 4–6% average annual growth in System-wide Sales and operating income, a 13% operating income ratio, and ROE of at least 11%.