Srs Holdings Co.,ltd. · TSE:8163
Srs Holdings Co.,ltd — Q2 FY3/26 Earnings Presentation
48 slides from Srs Holdings Co.,ltd's earnings presentation, Nov 10, 2025
Slide 1: Financial Results Explanatory Materials for the Second Quarter of FY Ending March 2026
Financial Results Explanatory Materials for the Second Quarter of the Fiscal Year Ending March 2026 November 10, 2025 SRS HOLDINGS CO., LTD. (Securities Code: 8163) © SRS HOLDINGS CO., LTD. All rights reserved.
Slide 2: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 2
Slide 3: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 3
Slide 4: Consolidated Financial Highlights
Consolidated Financial Highlights Net sales Record Operating profit Record Ordinary profit high high 37,212 million yen 1,613 million yen 1,600 million yen Up 18.2% YoY Up 1.0% YoY Up 5.9% YoY Number of Overview restaurants Number of Group restaurants: 781 ◼ Net sales increased significantly year on
Slide 5: 2Q FY3/26 Consolidated Profit and Loss (YoY Change)
2Q FY3/26 Consolidated Profit and Loss (YoY Change) ◼ Net sale increased by 5,731 million yen due to the aforementioned increases in average sales per customer, revenues resulting from M&As, and the contribution of new restaurant openings. ◼ The gross profit margin decreased by 0.4% due to a rise in
Slide 6: 2Q FY3/26 Consolidated Balance Sheet
2Q FY3/26 Consolidated Balance Sheet ◼ Decrease in current assets : mainly due to a decrease in cash and cash equivalents ◼ Decrease in current liabilities: mainly due to decreases in other current liabilities, accounts payable – other, and accounts payable – trade ◼ Decrease in non-current liabilit
Slide 7: 2Q FY3/26 Consolidated Cash Flows
2Q FY3/26 Consolidated Cash Flows ◼ Increase in cash flows from operating activities Mainly due to an increase in interim profit before income taxes ◼ Increase in cash flows from investing activities Mainly due to the rebound from expenditures resulting from the acquisition of new subsidiaries (M&As
Slide 8: 2Q FY3/26 YoY Changes in Consolidated Net Sales
2Q FY3/26 YoY Changes in Consolidated Net Sales ◼ As aforementioned, net sales significantly exceeded the previous year's results (up 5,731 million yen YoY). ◼ 13 new restaurants opened (including 6 directly-managed restaurants) and 18 restaurants closed (including 2 directly-managed restaurants). 3
Slide 9: YoY Changes in Consolidated Net Sales by Business
2Q FY3/26 YoY Changes in Consolidated Net Sales by Business ◼ Exceeded the previous year's net sales in all businesses. ◼ The acquisition of AMINO significantly contributed to revenue growth. 37,500 50 (Millions of yen) 228 36,000 3,367 34,500 37,212 +5,731 33,000 134 342 158 353 54 473 496 77 31,50
Slide 10: 2Q FY3/26 YoY Changes in Consolidated Operating Profit
2Q FY3/26 YoY Changes in Consolidated Operating Profit ◼ As aforementioned, operating profit increased (up 16 million yen YoY) due to improved profitability of existing restaurants and strong performance in net sales. ◼ On the other hand, costs rose due to a sharp rise in raw material prices and an
Slide 11: 2Q FY3/26 Quarterly Results
2Q FY3/26 Quarterly Results ◼ In 1Q, both net sales and ordinary profit tend to be lower than other periods due to the nature of our portfolio, in which businesses that perform strongly during busy seasons, such as Washoku Sato, Nigiri Chojiro, Umai Sushikan, account for more than 60% of the entire
Slide 12: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 12
Slide 13: Existing Restaurant Sales by Major Business Format
2Q FY3/26 Existing Restaurant Sales by Major Business Format ◼ Net sales for 1Q and 2Q at existing restaurants of both Washoku Sato and Nigiri Chojiro increased year on year. ◼ Existing restaurant sales of low-price range brands within the SRS group performed even better than those of mid- to high-p
Slide 14: Existing Restaurant Sales by Major Business Format
2Q FY3/26 Existing Restaurant Sales by Major Business Format ◼ For Washoku Sato, the average sales per customer increased in the first half of the year due to sales of high-value-added products. In June, both the number of customers and average sales per customer exceeded the previous year due to th
Slide 15: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 15
Slide 16: Grouping SUSHI BENKEI CO., LTD.
Grouping SUSHI BENKEI CO., LTD.! ◼ On September 29, 2025, we acquired all outstanding shares of SUSHI BENKEI CO., LTD., which operates six restaurants of the gourmet sushi chain Kaitensushi Hokkaido and Sushi Benkei in Tottori Prefecture and Shimane Prefecture, and made it a subsidiary. ◼ Expanding
Slide 17: Accelerating to Become the Overwhelming No. 1 Gourmet Sushi Chain
Accelerating to Become the Overwhelming No. 1 Gourmet Sushi Chain! ◼ Aim to become the overwhelming No. 1 gourmet sushi chain in terms of quality control, the number of restaurants, area of operation, and sales scale by taking on the challenge of entering into new business areas and creating synergi
Slide 18: Starting Aggressive Restaurant Openings of Each Business of SRS Group
Starting Aggressive Restaurant Openings of Each Business of SRS Group! ◼ Sales of the "Washoku Sato Kurashiki Higashitomii", which was opened in Okayama, a new business area, were strong, marking a smooth start for our expansion into new business areas. ◼ Accelerating restaurant openings in multiple
Slide 19: Progress Status of Strengthening Recruitment Activities
Progress Status of Strengthening Recruitment Activities to Expand Restaurant Openings ◼ Strengthen investment in recruitment and training activities to secure sufficient human resources for the expansion of restaurant openings throughout the Group. ◼ Recruitment activities progressed favorably as a
Slide 20: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 20
Slide 21: FY3/26 Business Plan (No Revisions)
FY3/26 Business Plan (No Revisions) ◼ Forecasts for FY3/26, the first year of the new Medium-term Business Plan, are based on the continuation of the customer traffic trend from the previous fiscal year and a certain increase in the average sales per customer through price revisions. A surge in raw
Slide 22: 2Q FY3/26 Business Performance Progress Rate Against the Plan
2Q FY3/26 Business Performance Progress Rate Against the Plan ◼ Net sales, operating profit, and ordinary profit all exceeded the plan. 0% 20% 40% 60% 80% 100% （計画） (Plan) 【2Q】 48.9% 売上高Net sales 37,150百万円 37,150 million yen 76,000 million yen （実績） (Results) 【2Q】 49.0% 37,212百万円 37,212 million yen （
Slide 23: FY3/26 Restaurant Opening Progress Ratio by Business Format
FY3/26 Restaurant Opening Progress Ratio by Business Format Figures in parentheses represent franchised restaurants and joint venture restaurants. 2Q FY3/26 FY3/26 restaurant No. of contracted No. of restaurants opening progress No. of restaurants Increase due to Restaurants restaurants in Restauran
Slide 24: Agenda
01 2Q FY3/26 Overview of Financial Results 3 02 Results by Main Business Format 12 03 Key Topics 15 04 Forecast for the Current Fiscal Year 20 05 Management Initiatives Focused on Cost of Capital 24 24
Slide 25: Management Initiatives Focused on Cost of Capital
Management Initiatives Focused on Cost of Capital ■ Policy on initiatives aimed at enhancing corporate value Policy Specific Initiatives KPIs • Improve profitability of existing businesses. Maintain ROE of over 8% Improvement of ROE • Appropriate return to shareholders. FY3/30 target: Over 12% • Res
Slide 26: Return to Shareholders
Return to Shareholders ■ Dividend results and dividend forecast In principle, the basic policy is to determine dividends to aim for a ▼ Dividends per share and consolidated dividend payout ratio consolidated dividend payout ratio of 20% or more. We will promote (Yen) a flexible dividend policy with
Slide 27: 2Q FY3/26 Financial Results Briefing
2Q FY3/26 Financial Results Briefing ◼ The Company holds financial results briefings for institutional investors and analysts for the interim and full-year periods. ◼ The next interim financial results briefing is scheduled for 11:00 a.m. on Thursday, November 13, 2025. <Information on financial res
Slide 28: Appendix
Appendix 28
Slide 29: About SRS Holdings: Company profile
About SRS Holdings Company profile Characteristics of the SRS Group Paid in capital • Develops Japanese food restaurants in Japan and Year of establishment As of March 31, 2025 overseas • Establishes a dominant position in the Kansai region • Develops directly-managed stores mainly in suburban areas
Slide 30: About SRS Holdings: Philosophy
About SRS Holdings Philosophy Contributing to society through providing food services. Management principles Aiming to realize our Sharing enjoyment Loving communities and dreams with partners. with others. developing symbiotic relationships. 30
Slide 31: About SRS Holdings: Number of restaurants
About SRS Holdings Number of domestic restaurants (757) [As of September 30, 2025] 198 stores 138 stores 72 stores 63 stores 58 stores Delivery 52 stores 34 stores 24 stores 24 stores sushi 11 stores business Highway 12 stores 9 stores 6 stores 5 stores business 5 stores 4 stores 1 store 1 store 1 s
Slide 32: SRS Group Major Brands
SRS Group Major Brands ■ Washoku Sato The largest chain of Japanese-style family restaurants in Japan. The all-you-can-eat menu items “Sato Shabu,” “Sato Suki,” and “Sato Style Yakiniku” are very popular. ■ Tendon Tempura Honpo Santen Authentic tendon and tempura are served based on the concept of “
Slide 33: SRS Group Major Brands
SRS Group Major Brands ■ Kazokutei Delicious soba is served based on the concept of "Kazokutei by your soba (side).” All dishes are served with soba-yu (soba broth), which customers can enjoy until the very last bite. ■ Tokutoku Chewy udon noodles with flavorful "Kansai-dashi" soup are served. Custo
Slide 34: SRS Group Major Brands
SRS Group Major Brands ■ Miyamoto Munashi Based on the concept of “Solo meals are hot!," set meals that energize and excite customers are served. A wide variety of set meals and free rice refills ensure that customers feel full and happy. ■ Tamagoyaki and Dashi Himawari The meals served mainly consi
Slide 35: SRS Group Major Brands
SRS Group Major Brands ■ Beefsteak Ushinofuku A beefsteak rice bowl made with aged beef which is matured in natural Japanese kelp overnight to bring out its umami flavor, and tender sirloin prepared and cooked carefully are served. ■ Katsuya Crispy, soft and filling katsudon and set meals are served
Slide 36: Summary of the New Medium-term Business Plan SRS VISION 2030
Summary of the New Medium-term Business Plan SRS VISION 2030 "Entertain with heartwarming Japanese cuisine, from Japan to the world." We aim to become a social infrastructure for food that is essential for people around the world by bringing affordable, casual, and approachable Japanese cuisine thro
Slide 37: Summary of the New Medium-term Business Plan
Summary of the New Medium-term Business Plan <Basic Policy> Dramatically develop existing businesses and establish a new earnings base to become the unrivaled No. 1 Japanese restaurant chain <Key Strategy Ⅰ > <Key Strategy Ⅱ > <Key Strategy Ⅲ > Turning “Washoku Sato” “Nigiri Chojiro” and Establish b
Slide 38: Consolidated Numerical Targets for SRS VISION 2030
Consolidated Numerical Targets for SRS VISION 2030 ◼ By implementing the four key strategies, we will achieve increases in net sales and profits, as well as improvements in profitability and return on capital. Implementing four key strategies <Existing stores> Improve profitability <<Financial Impac
Slide 39: Consolidated Numerical Targets for SRS VISION 2030
Consolidated Numerical Targets for SRS VISION 2030 (Millions of yen) Net sales (Millions of yen) Ordinary profit 115,000 103,000 Over 2.4 times 92,000 83,000 6,000 76,000 67,478 4,700 CAGR 3,600 3,000 2,800 Over 11% 2,539 FY3/25 25/3期実績 FY3/26 26/3期 FY3/27 27/3期 FY3/28 28/3期 FY3/29 29/3期 FY3/30 30/3
Slide 40: Sustainability Initiatives
Sustainability Initiatives ・ Basic policy on sustainability Business activities of the SRS Group are guided by the philosophy of “contributing to society through providing food services.” We are dedicated to growing together with all stakeholders, including customers, employees, business partners, s
Slide 41: Sustainability Initiatives: DREAM
Sustainability Initiatives Key themes Details of Initiatives Applicable SDGs Aiming to realize our dreams with partners. Encouraged employees to use annual paid leave and to take 7 consecutive vacation days Continued the employee parent-child discount to assist with caring for children at all Washok
Slide 42: Sustainability Initiatives: LOVE
Sustainability Initiatives Key themes Details of Initiatives Applicable SDGs Loving communities and developing symbiotic relationships. Promoted mottECO activities Activities to reduce waste Participated in the “Eat Everything Campaign” conducted by local governments materials Donated to food banks
Slide 43: Sustainability Initiatives
Sustainability Initiatives Activities to reduce food waste 〇 What is mottECO? • A new doggy bag idea begun by the Ministry of the Environment in October 2020. It was selected through a contest as a new name for taking home leftovers from restaurants, carried out based on mutual agreement between the
Slide 44: New Restaurants Opened in FY3/26
New Restaurants Opened in FY3/26 Shinpachi Shokudo Zest Oike, Kyoto Pref. Torisho Unuma, Gifu Pref. opened on April Oogamaya Seishin-chuo Plenty, Hyogo Pref. opened on April 3, 2025 4, 2025 opened on April 15, 2025 Torisho Yaenosato, Osaka Pref. opened on Torisho Iwaki Onahama, Fukushima Pref. Toris
Slide 45: New Restaurants Opened in FY3/26
New Restaurants Opened in FY3/26 Washoku Sato Kurashiki Higashitomii, Himawari Ecoll Izumi, Osaka Pref. opened Tokutoku Udon Wakayama Naka, Okayama Pref. opened on June 20, 2025 on July 9, 2025 Wakayama Pref. opened on July 14, 2025 Katsuya Takatsuki Minami, Osaka Pref. SATO don Central Plaza Rayong
Slide 46: New Restaurants Opened in FY3/26
New Restaurants Opened in FY3/26 Karayama Osakasayama, Osaka Pref. opened on September 26, 2025 46
Slide 47: IR Information
IR Information ■ Official website <IR site> ■ Shared Research Providing information for shareholders and investors. As a sponsored research report, detailed information Monthly information and various IR materials are also on IR is posted. posted on the IR website. https://sharedresearch.jp/ja/compa
Slide 48: Contact Information
Contact Information SRS HOLDINGS CO., LTD. Corporate Planning Dept. (Kodama, Iwai, Nakajima) TEL: +81-6-7709-9977 Email: 873@sato-rs.jp The business performance forecast in this material is based on information that was available at the time of this presentation. Contained within are many uncertain