Food & Life Companies Ltd. · TSE:3563
Food & Life Companies — H1 FY2026 Earnings Presentation
31 slides from Food & Life Companies's earnings presentation, May 8, 2026
Slide 1: Financial Results Briefing FY26/1H
Financial Results Briefing FY26/1H [From Oct 1, 2025 to Mar 31, 2026] May 8, 2026 Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 2: Agenda
AGENDA President & CEO ■ Performance Summary & Full-Year Forecast ・・・ (p.1 ~ p.3) Masahiro Yamamoto Corporate Officer ■ Consolidated Financial Results ・ ・ ・ ・ ・ (p.4 ~ p.12) Takeshi Yoshida Executive Vice President, Corporate Officer ■ International Business ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ (p.13 ~ p.17) H
Slide 3: Performance Summary & Full-Year Forecast
Performance Summary & Full-Year Forecast Masahiro Yamamoto President & CEO Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 4: Key Takeaways, FY26/1H
Key Takeaways, FY26/1H ✓ 1H results outperformed company expectation. ✓ Int’l Sushiro saw substantial growth in Mainland China with its store rollout accelerating. Businesses in other regions including Southeast Asia also remain on a solid growth trajectory. ✓ Japan Sushiro saw steady expansion thro
Slide 5: Financial Highlights, FY26/1H (consolidated, cumulative)
Financial Highlights, FY26/1H (consolidated, cumulative) Period : Oct 1, 2025 - Mar 31, 2026 FY25/1H FY26/1H (6 months） % in % in (Millions, JPY) Actual Revenue Actual Revenue YoY vs.Forecast*2 Revenue 203,814 ー 254,182 ー 24.7% 52.4% *1 EBITDA 27,126 13.3% 37,262 14.7% 37.4% 62.2% Operating Profit 1
Slide 6: Revision of FY26/9 Full Year Forecast
Revision of FY26/9 Full Year Forecast FY26/9 earnings forecast revised upward, with revenue and operating profit increased by 20bn JPY and 8bn JPY, respectively, from the initial projections. Progress % Previous Revised Change Between Change Between FY26/1H vs. Previous FY26/9 Forecast FY26/9 Foreca
Slide 7: Consolidated Financial Results
Consolidated Financial Results Takeshi Yoshida Corporate Officer, Finance & Accounting Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 8: Financial Highlights, FY26/1H (consolidated, cumulative)
Financial Highlights, FY26/1H (consolidated, cumulative) Period (6 months) From Oct 1, 2025 To Mar 31, 2026 FY25/1H FY26/1H % in % in *2 (Millions, JPY) Actual Revenue Actual Revenue YoY vs.Forecast Revenue 203,814 ー 254,182 ー + 24.7% 52.4% *1 EBITDA 27,126 13.3％ 37,262 14.7% + 37.4% 62.6% Operating
Slide 9: Financial Highlights, FY26/Q2 (consolidated, 3 months)
Financial Highlights, FY26/Q2 (consolidated, 3 months) Period (3 months) From Jan 1, 2026 To Mar 31, 2026 FY25/Q2 FY26/Q2 (Millions, JPY) % in % in Actual Revenue Actual Revenue YoY Revenue 104,673 ー 131,526 ー + 25.7% *1 EBITDA 14,128 13.5％ 19,524 14.8% + 38.2% Operating Profit 9,955 9.5% 14,616 11.
Slide 10: Financial Highlights, FY26/1H (by segment, cumulative)
Financial Highlights, FY26/1H (by segment, cumulative) Period (6 months) Japan Sushiro Int’l Business*2 Kyotaru Business Other Business From Oct 1, 2025 To Mar 31, 2026 FY25 FY26 Increase/ FY25 FY26 Increase/ FY25 FY26 Increase/ FY25 FY26 Increase/ (Millions, JPY) 1H 1H Decrease 1H 1H Decrease 1H 1H
Slide 11: Financial Highlights, FY26/Q2 (by segment, 3 months)
Financial Highlights, FY26/Q2 (by segment, 3 months) Period (3 months) Japan Sushiro Int’l Business*2 Kyotaru Business Japan Sugidama *4 From Jan 1, 2026 To Mar 31, 2026 FY25 FY26 Increase/ FY25 FY26 Increase/ FY25 FY26 Increase/ FY25 FY26 Increase/ (Millions, JPY) Q2 Q2 Decrease Q2 Q2 Decrease Q2 Q
Slide 12: Operating Profit, FY26/1H (YoY)
Operating Profit, FY26/1H (YoY) Performance improvement of Int’l Business, especially of Mainland China 0.2pt 11.0% 0.2pt 0.1pt 0.1pt 1.4pt 9.6% ▲0.6pt 0.4pt ▲0.4pt FY25/1H COGS SG&A COGS SG&A Kyotaru Japan Parent Other FY26/1H of Japan of Japan of Int’l of Int’l Business Sugidama Company, Income/ S
Slide 13: Profit for the Period, FY26/1H (YoY)
Profit for the Period*1, FY26/1H (YoY) Utilities 0.4 pt Depreciation 0.3 pt Commission Paid 0.1 pt Other 0.5 pt 0.3pt ▲0.5pt 0.2pt 1.3pt ▲0.1pt 7.0% Increase in COGS of Japan Sushiro 5.8% ▲0.8pt 0.8pt FY25/1H COGS Personnel Other Other Finance Taxes, etc. Non- FY26/1H Costs Expenses Income/ Income/
Slide 14: BS・CF (Consolidated)
BS・CF (Consolidated) Consolidated Statement of Financial Position Consolidated Statement of Cash Flows （Millions, JPY） FY25/9 FY26/1H Change （Millions, JPY） FY25/1H FY26/1H Change Current assets 88,396 102,577 14,181 Operating 26,219 40,553 14,334 CF [Cash and cash equivalents] [58,822] [62,400] [3,
Slide 15: Revision of FY26/9 Full Year Forecast
Revision of FY26/9 Full Year Forecast FY26/9 earnings forecast revised upward, with revenue and operating profit increased by 20bn JPY and 8bn JPY, respectively, from the initial projections. Progress % Previous Revised Change Between Change Between FY26/1H vs. Previous FY26/9 Forecast FY26/9 Foreca
Slide 16: Store Count, Group Total
Store Count, Group Total FY25 FY26 End-of-Term Increase Decrease End-of-Term Japan 659 ３ １ 661 Sushiro Overseas 227 46 １ 272 Restaurant Japan 95 7 ０ 102 Sugidama (incl. Sakabayashi) Overseas 7 ０ ０ 7 Misaki / Misakimaru Japan 87 ０ 2 85 Sushiro Japan 8 ０ 1 7 Takeout Kyotaru (incl. Multi-brand stores)
Slide 17: International Business
International Business Hiromitsu Kato Executive Vice President, Corporate Officer Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 18: Sushiro: FY25/1H Results and FY26 Forecast
Sushiro : FY25/1H Results and FY26 Forecast • Aiming for further growth by achieving a highest pace of new store expansion. Key Int’l • Aiming to establish a strong structure to support sustained growth by enhancing the stability of quality, Initiatives Business implementing promotional & marketing
Slide 19: Sushiro Global: Business Environment & Results
[ 2H / FY26] Growth in Mainland China business drove overall performance of the int’l segment, Sushiro : while Southeast Asia business also remained on a solid growth trajectory Business Environment & Results • Taiwan：The store network expanded to 56 locations within 1H of FY26. Building on the stro
Slide 20: Sushiro: Store Count (Int'l)
Sushiro : Store Count (Int’l) ◼ Steady Progress in New Openings in Overseas Markets, Reaching 279 Stores in 1H, ◼ Aiming to Reach the Total of 320+ Stores in 2H 320+ stores North 2 America 300 234 stores East Asia / 182 1 90~98 Southeast Asia stores 200 135 1 73 stores 87 52 59 stores 35 100 38 stor
Slide 21: Sushiro: Mainland China business performance
Mainland China - Business performance remains strong, and the strategic expansion of Sushiro : the store network is progressing as planned ■ Following our Shanghai launch, we have expanded into nearby cities to great acclaim. This viral traction has now permeated major tiers like Beijing, Guangzhou,
Slide 22: Sushiro Global: Initiatives FY26 & Beyond
[ FY26 & Beyond] While scaling our footprint across established markets, we are intensifying our Sushiro : investment in human capital to architect a resilient foundation for enduring growth. Initiatives GLOBAL • To fuel our upcoming growth surge, we are channeling resources into talent development
Slide 23: Japan Business (Sushiro)
Japan Business (Sushiro) Kohei Nii Senior Executive Corporate Officer Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 24: Sushiro: FY25/1H Results and FY26 Forecast
Sushiro : FY25/1H Results and FY26 Forecast Key • Updating customers’ dining experience： Sushiro Initiatives Further improving product quality / Investing in existing stores (CAPEX) Results FY26 Previous Revised (Billions, JPY) FY25/1H FY26/1H YoY Forecast*1 Forecast*2 Change*3 Revenue 129.1 144.5 +
Slide 25: Sushiro: Like-For-Like (LFL) Trend
Sushiro : Like-For-Like (LFL) Trend ✓ Revenue LFL (full year) was 109%, good progress against 107% originally planned for 1H / FY26 ✓ Store renovation progresses as planned. ‘Digiro’ continued to contribute to the enhancement of customer experience value. ✓ Continuing to further refine product quali
Slide 26: Sushiro: Campaigns and IP Collaborations
Sushiro : Campaigns and IP Collaborations Y2025 October November December “Wild Albacore Tuna” “King of Tuna” “Crab Fair” “Winter Fair” (100 yen Incl. tax per plate) Medium-Fatty Bluefin Tuna (120 yen Incl. tax) IP Collaboration Sushiro x ‘KAWAISOUNI!’ Sushiro x ‘SAKURA MIKO’ Sushiro x ‘Project SEKA
Slide 27: Summary
Summary Masahiro Yamamoto President & CEO Copyright © FOOD & LIFE COMPANIES LTD. All rights reserved. Strictly private & Confidential.
Slide 28: Dividend Forecast and Stock Split
Dividend Forecast and Stock Split Upward Revision of FY26/9 Dividend Forecast Stock Split We plan to raise the FY26/9 year-end ordinary dividend from We will conduct a stock split at a ratio of two shares for every 35.00 JPY to 40.00 JPY per share. 5.00 JPY increase per share. one share held by shar
Slide 29: A New Sushiro Brand Logo Unveiled
A New Sushiro Brand Logo Unveiled ✓ On March 25, F&LC unveiled an evolved Katakana logo for its flagship brand, Sushiro, alongside a newly crafted alphabetical mark. Our vision is to cultivate a globally unified brand identity that resonates deeply and leaves an enduring impression on customers worl
Slide 30: Summary: FY26 Full-Year Forecast and FY26/2H Focus
Summary FY26 Full-Year Forecast Revised up our FY26/9 full-year forecast to incorporate the 1H upside while the 2H estimates remain unchanged from the initial plan. The Focus of FY26/2H Continuing to accelerate new store openings while further refining customer experience value and our core competit
Slide 31: Disclaimer
Disclaimer The information in this document is intended only for the purpose of providing information on FOOD & LIFE COMPANIES LTD. (the “Company”). It does not constitute solicitation to purchase shares or any other investment securities issued by the Company, within the jurisdictions of Japan, Uni
Food & Life Companies — H1 FY2026 Earnings Presentation on 6ix