Yoshinoya Holdings (9861) Q1 2026 earnings summary

Executive summary

• Q1 revenue/net sales rose 9.8% year-over-year to ¥52,218 million, driven by growth in all segments and M&A contributions.

• Operating profit increased 20% year-over-year to ¥1,056 million, with margin up 0.1 percentage points to 2.0%.

• Net income attributable to shareholders grew 9% year-over-year to ¥742 million.

• EBITDA increased 16.3% year-over-year to ¥2,885 million.

• Comprehensive income dropped sharply to ¥128 million from ¥1,295 million year-over-year, mainly due to negative foreign currency translation adjustment.

Financial highlights

• Gross profit rose 6.1% year-over-year to ¥32,732 million, despite a higher COGS ratio (up 2.2 pts to 37.3%).

• SG&A expenses increased 5.7% year-over-year, but the SG&A ratio improved by 2.4 pts to 60.7%.

• Ordinary profit was flat year-over-year at ¥1,241 million.

• Basic earnings per share improved to ¥11.48 from ¥10.54 year-over-year.

• Total assets as of May 31, 2025, were ¥119,696 million, with net assets at ¥64,663 million and a capital adequacy ratio of 53.5%.

Outlook and guidance

• Q1 revenue achieved 23.2% of the full-year target of ¥225,000 million.

• Operating profit progress rate was 14.3% toward the annual target of ¥7,400 million.

• Full-year net sales forecast for FY ending February 28, 2026, is ¥225,000 million, with operating profit projected at ¥7,400 million and profit attributable to owners of parent at ¥4,200 million.

• Dividend forecast remains unchanged at ¥20.00 per share for the year.