Kura Sushi (2695) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended July 31, 2024, rose 12.1% year-over-year to ¥173,893 million, with all major profit metrics reaching record highs.

• Operating income was ¥6,362 million, reversing a loss in the prior year, and net income attributable to shareholders was ¥4,441 million, also a record.

• Store count increased to 673, with 24 new openings (8 in Japan, 13 in the US, 3 in Asia).

Financial highlights

• Gross profit increased to ¥103,031 million from ¥85,949 million year-over-year.

• Operating income improved to ¥6,362 million from a loss of ¥376 million in the prior year.

• Net income attributable to shareholders was ¥4,441 million, compared to a loss of ¥649 million last year.

• Total assets grew to ¥144,644 million, up ¥14,525 million from the previous year-end.

• Equity ratio was 40.7%, slightly down from 41.6% at the previous year-end.

Outlook and guidance

• Full-year revenue forecast is ¥234,000 million, up 10.7% year-over-year.

• Operating income is projected at ¥5,500 million (up 123.9%), and net income at ¥3,500 million (up 305.4%).

• No changes to previously announced guidance as of June 10, 2024.