Ichibanya (7630): FY2025 Results Summary — Higher Sales but Lower Profit as Net Income Falls 19.2%

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

Note: Ichibanya does not publish an English-language 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. This site classifies the most recent completed fiscal year as FY2025, while the company’s own materials label the period as the fiscal year ended February 2026 (2026年2月期). For the fiscal year ended February 28, 2026, Ichibanya’s consolidated results were net sales of 65,518 million yen (+7.4% year on year), operating profit of 4,715 million yen (-4.3%), and profit attributable to owners of parent of 2,562 million yen (-19.2%). Net sales increased on price revisions at domestic CoCo Ichibanya restaurants and expansion of the overseas and domestic-subsidiary businesses, while operating profit declined on unprecedented increases in procurement costs for ingredients including rice and higher logistics costs. Profit attributable to owners of parent saw a wider decline as extraordinary losses increased, including impairment losses and losses on retirement of fixed assets at directly managed restaurants.

Consolidated Results (FY Ended February 2026 Actual)

Restaurant sales were 118,304 million yen (of which domestic restaurant sales were 99,350 million yen), up 2.5% year on year. Net sales were 65,518 million yen, up 7.4%, while operating profit of 4,715 million yen (-4.3%), ordinary profit of 4,985 million yen (-4.0%), profit before income taxes of 3,945 million yen (-17.0%), and profit attributable to owners of parent of 2,562 million yen (-19.2%) all declined from the prior year.

Item	FY2025 (Actual)	Previous Year (Actual)	Change
Restaurant sales	¥118,304 million	¥115,401 million	+¥2,902 million (+2.5%)
Net sales	¥65,518 million	¥61,006 million	+¥4,512 million (+7.4%)
Operating profit	¥4,715 million	¥4,925 million	-¥209 million (-4.3%)
Ordinary profit	¥4,985 million	¥5,194 million	-¥208 million (-4.0%)
Profit before income taxes	¥3,945 million	¥4,751 million	-¥805 million (-17.0%)
Profit attributable to owners of parent	¥2,562 million	¥3,171 million	-¥609 million (-19.2%)

Overseas Business and Domestic Subsidiary Operations

Operating profit from the overseas business was 980 million yen (847 million yen in the prior year), an increase of +132 million yen (+15.7%). Although opening costs were incurred for the first Taiwan store of Daikokuya, profit increased in other regions including the United States. Operating profit from the domestic subsidiary business, meanwhile, was 350 million yen (426 million yen in the prior year), a decrease of -75 million yen (-17.7%). Business expansion at Daikoku Shoji contributed to higher profit, but new-store investment burdens at LFD and ITE weighed on results.

Category	Metric	FY2025 (Actual)	Previous Year (Actual)
Hong Kong	Operating profit	¥16 million	-¥16 million
United States	Operating profit	¥261 million	¥226 million
China	Operating profit	-¥87 million	-¥101 million
Taiwan	Operating profit	¥223 million	¥198 million
Overseas business (total)	Operating profit	¥980 million	¥847 million
Domestic subsidiary business (total)	Operating profit	¥350 million	¥426 million

Full-Year Forecast (FY Ending February 2027)

For the fiscal year ending February 2027, the company forecasts consolidated restaurant sales of 125,700 million yen (of which domestic restaurant sales of 104,210 million yen), net sales of 72,600 million yen (+10.8% year on year), operating profit of 5,000 million yen (+6.0%), ordinary profit of 5,040 million yen (+1.1%), and profit attributable to owners of parent of 2,720 million yen (+6.1%). The forecast assumes same-store sales growth of +2.0% at domestic CoCo Ichibanya restaurants, based on +3.0% in customer traffic and -1.0% in average spend per customer.

Item	FY2026 Forecast	FY2025 (Actual)
Restaurant sales	¥125,700 million	¥118,304 million
Net sales	¥72,600 million	¥65,518 million
Operating profit	¥5,000 million	¥4,715 million
Ordinary profit	¥5,040 million	¥4,985 million
Profit before income taxes	¥4,370 million	¥3,945 million
Profit attributable to owners of parent	¥2,720 million	¥2,562 million

Shareholder Returns

Regarding dividends, the company plans an annual dividend per share of 16 yen for the fiscal year ending February 2027 (forecast), stated on a post-stock-split share basis.

Revision of Medium-Term Management Plan

The company has revised its 8th Medium-Term Management Plan (fiscal years ending February 2025 through February 2027), lowering its plan for the fiscal year ending February 2027 from consolidated net sales of 74,000 million yen to 72,600 million yen, and consolidated operating profit from 7,000 million yen to 5,000 million yen. Within operating profit, the plan was revised from 4,100 million yen to 3,000 million yen for the domestic business, from 1,400 million yen to 1,200 million yen for the overseas business, and from 1,500 million yen to 800 million yen for the domestic subsidiary business. The store-opening plan was also revised, from 1,260 to 1,209 domestic CoCo Ichibanya restaurants, and from a total of 1,660 to 1,545 restaurants.

Item	Previous Plan (FYE Feb 2027)	Revised Plan (FYE Feb 2027)
Consolidated net sales	¥74,000 million	¥72,600 million
Consolidated operating profit	¥7,000 million	¥5,000 million
Domestic business (operating profit)	¥4,100 million	¥3,000 million
Overseas business (operating profit)	¥1,400 million	¥1,200 million
Domestic subsidiary business (operating profit)	¥1,500 million	¥800 million
Domestic CoCo Ichibanya restaurants	1,260 restaurants	1,209 restaurants
Total restaurants	1,660 restaurants	1,545 restaurants

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.