EAT&HOLDINGS (2882): FY2025 Results Summary — Record Net Sales and Operating Profit

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: EAT&HOLDINGS does not publish an English results presentation; this article is an English translation of the Japanese-language article on our sister site Investalk, which is based on the company’s Japanese-language IR materials, with figures transcribed as reported. The company’s most recently completed fiscal year, which this site classifies as FY2025, is labelled by the company as the fiscal year ended February 2026 (March 1, 2025 to February 28, 2026).

Consolidated results of EAT&HOLDINGS (securities code: 2882) for the fiscal year ended February 2026 (full year) were net sales of 40,456 million yen (108.4% of the prior year), operating profit of 1,142 million yen (104.7%) and ordinary profit of 1,101 million yen (111.6%), with net sales, operating profit and ordinary profit all setting record highs. While the Foods business and the Restaurant business each achieved record sales, profit attributable to owners of parent decreased to 373 million yen (42.0%).

Consolidated Results (Full Year)

Net sales rose 8.4% year on year to 40,456 million yen, with both the Foods business (57.3% of sales) and the Restaurant business (42.7% of sales) securing higher sales. Gross profit was 17,104 million yen (109.9% of the prior year), selling, general and administrative expenses were 15,961 million yen (110.3%), operating profit was 1,142 million yen (104.7%; operating margin 2.8%, down 0.1pt year on year) and ordinary profit was 1,101 million yen (111.6%). Meanwhile, profit attributable to owners of parent fell to 373 million yen (42.0%). This was the reaction to the previous fiscal year (ended February 2025), in which insurance proceeds of 1,606 million yen arising from a plant fire were recorded as extraordinary income; the previous fiscal year also included a loss on reduction of non-current assets of 910 million yen as an extraordinary loss.

Item (million yen)	FY ended Feb 2025	FY ended Feb 2026	vs. Prior Year
Net sales	37,335	40,456	108.4%
Foods (share of sales)	21,452 (57.5%)	23,197 (57.3%)	108.1%
Restaurants (share of sales)	15,882 (42.5%)	17,259 (42.7%)	108.7%
Gross profit	15,567	17,104	109.9%
Selling, general and administrative expenses	14,476	15,961	110.3%
Operating profit	1,090	1,142	104.7%
Operating margin	2.9%	2.8%	△0.1pt
Ordinary profit	987	1,101	111.6%
Profit attributable to owners of parent	888	373	42.0%

Segment Results

The Foods business posted net sales of 23,197 million yen (108.1% of the prior year) and segment profit of 1,288 million yen (114.4%; margin 5.6%, up 0.3pt year on year), for higher sales and higher profit. Sharply higher sales expanded production volume, and strategic investment in advertising contributed. The Restaurant business posted higher net sales of 17,259 million yen (108.7%), but higher purchasing costs for rice, chicken, pork and other inputs and investment in North America left segment profit at 423 million yen (83.1%; margin 2.5%, down 0.8pt year on year), a decline.

Segment	Metric	FY ended Feb 2025	FY ended Feb 2026
Foods	Net sales (million yen)	21,452	23,197
Foods	Segment profit (million yen)	1,126	1,288
Foods	Margin	5.3%	5.6%
Restaurants	Net sales (million yen)	15,882	17,259
Restaurants	Segment profit (million yen)	510	423
Restaurants	Margin	3.2%	2.5%
Adjustments	Segment profit (million yen)	△545	△569

Foods Business Topics

In the frozen gyoza market, the company achieved a 35.9% share of purchase value for March 2025 to February 2026, ranking No.1 for the third consecutive year. Frozen boiled gyoza ranked No.1 for the 12th consecutive year with a 57.7% share, frozen xiaolongbao held a 34.6% share, and frozen shumai took fourth place in annual share on the back of aggressive sales promotion. The Kyushu Plant under construction in Miyakonojo City, Miyazaki Prefecture (total investment of 6,606 million yen, production capacity of approximately 1,300 tonnes per month) is scheduled for completion in December 2026, with the company aiming to start operations in spring 2027.

Restaurant and Overseas Business Topics

In the Restaurant business, Osaka Ohsho advanced the rebuilding of its store model, and the number of stores at the end of February 2026 was 342 (349 in the previous fiscal year). Taiyo no Tomato Men rebuilt its food-court model and opened new-concept stores centred on shopping malls, and R Baker accelerated franchise store openings through a more efficient central kitchen supply system, expanding the group-wide store count to 471 (469 in the previous fiscal year). In the overseas business, overseas locations expanded to 34 stores in seven countries, and the first North American store, OSAKA OHSHO GYOZA&TAPAS (United States), is scheduled to open in May 2026; the company states that it will offer 30 varieties of gyoza and unique sake, aiming to build a base with a view to rolling out stores across the United States.

Full-Year Forecast

For the fiscal year ending February 2027, the consolidated forecast is net sales of 43,000 million yen (106.3% of the prior year), operating profit of 1,250 million yen (109.4%), ordinary profit of 1,110 million yen (100.7%) and net income of 455 million yen (121.9%). The first-half (cumulative) forecast is net sales of 20,500 million yen (102.9%), operating profit of 485 million yen (95.9%), ordinary profit of 435 million yen (86.2%) and net income of 200 million yen (84.6%).

Item (million yen)	H1 Forecast (cumulative)	vs. Prior Year	Full-Year Forecast	vs. Prior Year
Net sales	20,500	102.9%	43,000	106.3%
Operating profit	485	95.9%	1,250	109.4%
Ordinary profit	435	86.2%	1,110	100.7%
Net income	200	84.6%	455	121.9%

Shareholder Returns

For the fiscal year ending February 2027, the dividend forecast is 7.50 yen at the end of the second quarter and 7.50 yen at the fiscal year-end, for an annual total of 15.00 yen, with a payout ratio of 37.4%.

Category	Second quarter-end	Fiscal year-end	Total	Payout ratio
FY ending February 2027 (forecast)	7.50 yen	7.50 yen	15.00 yen	37.4%

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.