Zensho : Results Briefing through the third quarter of 44th Period

About this update from Zensho Holdings Co., Ltd.

February 12, 2026 Consolidated Financial Results for 3Q FY2025 (Nine months ended December 31, 2025) 0 ZENSHO HOLDINGS CO., LTD. 1. Financial Results for 3Q FY2025 P.3 2. Capital Investment and Financial Indexes P.10 Table of Contents 2 ZENSHO HOLDINGS CO., LTD. 1. Financial Results for 3Q FY2025 3 Income Statement Summary FY2024 FY2025 Apr.-Dec. results Apr.-Dec. results YoY Amount % Sales 846.7 936.6 +89.9 +10.6% Cost of Sales (Percentage of total) 382.5 (45.2%) 428.9 (45.8%) +46.3 (+0.6pt) +12.1% SG&A (Percentage of total) 406.0 (48.0%) 446.8 (47.7%) +40.7 (-0.3pt) +10.0% Operating Profit (Percentage of total) 58.0 (6.9%) 60.9 (6.5%) +2.8 +4.9% Ordinary Profit (Percentage of total) 55.2 (6.5%) 59.1 (6.3%) +3.8 +7.0% Profit (Percentage of total) 34.1 (4.0%) 35.5 (3.8%) +1.4 +4.1% Cash flow from operating activities 52.4 66.4 +14.0 +26.7% (Unit: Billions of yen) 4 ZENSHO HOLDINGS CO., LTD. Same Store Sales (compared to 2019) by Segment 21/3 22/3 23/3 24/3 25/3 26/3 (%) 1st 2nd 3rd 4th 5th 6th 7th 8th 9th (%) 180 wave wave wave wave wave wave wave wave wave 187 166.9 171.6 153.9 158.4 157 143.3 149.4 150 139.2 134.3 142 135.8 121.0 132.1 136.5 131.4 114.0 120.6 103.1 106.0 110.7 105.4 107.2 101.3 101.3 106 85.3 95.5 93.6 96.3 80.6 80.8 80.6 68.8 68.4 63.5 64.4 58.6 42.7 .9 Global Hamasushi 180 160 160 .4 Global Sukiya .4 Restaurants 140 120 .6 1 G 4 lo 0 bal Fast Food 120 Retail 100 80 60 40 Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Jan .8 100 80 60 40 ① 21/3 ② ③ ➃ 22/3 23/3 24/3 25/3 * ①-➃ indicate periods under 26/3 the state of emergency 5 ZENSHO HOLDINGS CO., LTD. Up ¥89.9 bn YoY Others YoY Changes in Segment Sales 936.6 (2.5) (-8.3%) (Unit: Billions of yen) 846.7 FY2024 3Q (Cumulative) FY2025 3Q (Cumulative) *Figures in parentheses indicate percentages of net sales. ZENSHO HOLDINGS CO., LTD. Corporate and Support +3.7 (+91.3%) Retail +0.6 (+1.2%) Restaurants +12.3 (+10.7%) Global Fast Food +7.0 (+9.0%) Global Prepared Food +6.7 (+4.3%) Global Hamasushi +51.1 (+28.4%) Global Sukiya +10.8 (+4.9%) *Figures in parentheses indicate percentages of change. 6 Up ¥2.8 bn YoY Others YoY Changes in Segment Profit +1.3 (-) (Unit: Billions of yen) Corporate 58.0 60.9 Corporate and Support Retail and Support Others Retail Others +5.5 (-) Retail +0.1 (-) Restaurants +1.8 (+23.9%) Global Fast Food +0.2 (+9.4%) Global Prepared Food +2.6 (+13.9%) Global Hamasushi Global Sukiya (12.8) (-63.7%) +3.4 (+23.8%) FY2024 3Q (Cumulative) FY2025 3Q (Cumulative) *Figures in parentheses indicate percentages of operating profit. *Figures in parentheses indicate percentages of change. 7 ZENSHO HOLDINGS CO., LTD. Up ¥89.9 bn YoY (Unit: Billions of yen) Restaurant business Global Prepared Food Retail business Corporate and Support Other segments 936.6 Same stores +49.8 +6.7 +0.6 +1.1 Store openings and closures +31.7 846.7 FY2024 3Q (Cumulative) FY2025 3Q (Cumulative) 8 ZENSHO HOLDINGS CO., LTD. Segment Analysis: Net Sales Segment Analysis: Operating Profit Up ¥2.8 bn YoY Store openings and Restaurant business Impact on net sales of same stores Cost of sales +30.2 -9.4 Personnel expenses of same stores -11.3 SG&A expenses of same stores Global Prepared Retail business (Unit: Billions of yen) Corporate and Support Other segments 58.0 closures +3.5 -14.1 Food +2.6 +0.1 +1.3 60.9 FY2024 3Q (Cumulative) FY2025 3Q (Cumulative) 9 ZENSHO HOLDINGS CO., LTD. 2. Capital Investment and Financial Indexes 10 Number of Store Openings, Capital Investment, and Depreciation (Unit: Stores) FY2021 FY2022 FY2023 FY2024 FY2025 3Q Number of stores opened (consolidated) 434 444 971 880 818 Domestic 92 80 103 98 79 Overseas 342 364 868 782 739 Number of stores at end of period 10,078 10,283 15,109 15,419 14,918 (Unit: Billions of yen) Capital investment (cash flow basis) 27.5 30.9 40.1 61.5 57.4 Operating cash flow 45.4 53.0 85.9 78.9 66.4 (of which, Depreciation) 28.3 30.4 34.4 46.5 38.3 11 ZENSHO HOLDINGS CO., LTD. Global Development Number of stores: 14,918 stores (As of December 31, 2025) From Dec. 2019 Europe From Sep. 2023 From Jan. 2008 From Nov. 1982 1,096 store s Middle East Asia Japan From Nov. 2018 5 stores 1,028 stores 4,886 stores North America 7,462 stores From Nov. 2018 Oceania 390 stores From Mar. 2010 Central and South America 51 stores 12 ZENSHO HOLDINGS CO., LTD. 25/3末 25/12末 25/3末 25/12末 Balance Sheet (Unit: Billions of yen) Mar. 31, 2025 Dec. 31, 2025 Mar. 31, 2025 Dec. 31, 2025 Changes Mar. 31, 2025 Dec. 31, 2025 Mar. 31, 2025 Dec. 31, 2025 Changes Current assets 31.0% 34.9% 252.0 329.2 +77.1 Liabilities 70.4% 65.5% 572.7 618.2 +45.4 Cash and Deposits 79.6 131.4 +51.8 Interest-bearing debt 299.7 321.6 +21.9 Other Current Assets 172.3 197.7 +25.3 Other Liabilities 273.0 296.5 +23.5 Noncurrent assets 68.9% 65.0% 560.5 613.7 +53.2 Total Net assets 29.6% 34.5% 240.3 325.4 +85.0 Tangible Assets 274.3 319.2 +44.8 Paid-in capital 121.6 170.1 +48.5 Intangible Assets 215.7 226.5 +10.7 Retained earnings 113.0 136.7 +23.6 Investments and Other Assets 70.4 67.9 -2.4 Treasury shares -13.7 -15.6 -1.9 Deferred assets 0.5 0.6 +0.0 Accumulated other comprehensive income 19.0 33.6 +14.5 Total assets 813.1 943.6 +130.5 Total Liabilities and Net Assets 813.1 943.6 +130.5 13 ZENSHO HOLDINGS CO., LTD. Financial Indexes Interest-bearing Debt, Net D/E ratio Interest-bearing Debt *1 Net D/E ratio *1 Net D/E ratio *2 (Unit: Billions of yen, times) Equity Capital ratio Equity Capital *1 Equity Capital ratio *1 Equity Capital ratio *2 (Unit: Billions of yen, %) 14 *1: Subordinated loans and preferred shares are capitalized. (Until FY2023, includes 20.0 billion yen of preferred shares subscribed by Development Bank of Japan) *2: Based on accounting Balance Sheet ZENSHO HOLDINGS CO., LTD. LOTTERIA W derfietd ZENSHO HOLDINGS CO., LTD. Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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