Yoshinoya Holdings (9861) Q2 2025 earnings summary

Executive summary

• Interim period sales/revenue rose 8.4% year-over-year to ¥99.3 billion, driven by growth in existing store sales and net store openings.

• Operating profit/income decreased 6.9% year-over-year to ¥3.7 billion, impacted by wage increases, uniform changes, and M&A costs.

• Net profit attributable to shareholders for the interim period was ¥2.2 billion, down ¥670 million or 23.1% year-over-year, affected by exchange losses and absence of prior-year real estate gains.

• Existing store sales grew 5.5% year-over-year, with domestic growth offsetting overseas declines.

• New business initiatives included the acquisition of a ramen manufacturer and launch of ostrich meat products.

Financial highlights

• Gross profit was ¥35.2 billion, up from ¥32.5 billion year-over-year.

• Comprehensive income rose to ¥3.7 billion from ¥3.6 billion year-over-year.

• Total assets increased to ¥118.5 billion, net assets to ¥63.9 billion.

• Equity/capital ratio remained stable at 53.5%.

• Cash and cash equivalents at period-end were ¥21.9 billion, down from ¥26.3 billion at the previous period-end.

Outlook and guidance

• Full-year sales/revenue forecast at ¥203 billion, operating profit at ¥7.0 billion, net profit at ¥4.1 billion.

• Progress rate for operating profit against annual plan is 53.0% at interim.

• No changes have been made to previously announced guidance.

• Focus remains on customer acquisition and enhancing store experience.