Bronco Billy Co., Ltd. (TSE: 3091) reported consolidated results for the first quarter of the fiscal year ending December 2026 (FY12/2026), covering January 1 to March 31, 2026, under Japanese GAAP. Revenue rose 13.1% year-on-year to ¥8,241 million, operating profit nearly doubled to ¥1,031 million (+93.5%), ordinary profit rose 87.6% to ¥1,037 million, and net profit attributable to owners of the parent climbed 85.9% to ¥693 million. Basic earnings per share came in at ¥46.60, up from ¥25.08 a year earlier. The Nagoya-listed casual-dining operator runs charcoal-grilled steak and hamburg-steak restaurants with a signature self-service salad bar, concentrated in Japan's Chubu and Kanto regions.
A strong start off a weak base
The standout figure is the near-doubling of operating profit, which reflects both genuine momentum and an easy comparison. In the prior-year first quarter, operating profit had fallen about 31.5% to ¥532 million, ordinary profit dropped 30.3% to ¥553 million, and net profit declined 29.3% to ¥373 million. Against that depressed base, the current quarter's recovery looks emphatic: solid double-digit top-line growth flowed through to a sharply higher operating margin as the chain recovered profitability. Comprehensive income rose 78.7% to ¥713 million.
Profit pace runs ahead of the full-year plan
At ¥1,031 million, first-quarter operating profit already represents roughly a third of the company's full-year target of ¥3,000 million — a fast start that puts the early-year pace comfortably ahead of a linear run-rate. Management nonetheless kept its guidance unchanged, leaving room for the seasonal and cost dynamics that typically weigh on later quarters. The first-half plan calls for revenue of ¥16,000 million (+9.7%), operating profit of ¥1,430 million (+16.8%), ordinary profit of ¥1,450 million (+15.2%), and net profit of ¥950 million (+12.9%).
Solid balance sheet and steady dividend
Bronco Billy's balance sheet remains conservatively financed. Total assets stood at ¥27,108 million and net assets at ¥22,207 million, giving an equity ratio of 81.7% — a notably high level that affords ample flexibility for store openings and refurbishment. On shareholder returns, the company maintained its FY12/2026 forecast of a ¥28.00 annual dividend (¥14.00 interim plus ¥14.00 year-end). The prior-year ¥28.00 payout had included a ¥2.00 commemorative dividend marking a new management structure, so the ordinary dividend base is effectively held flat into the new year.
Full-year outlook unchanged
For the full FY12/2026, management guides revenue of ¥33,000 million (+9.2%), operating profit of ¥3,000 million (+2.4%), ordinary profit of ¥3,050 million (+0.8%), and net profit of ¥2,000 million (+1.5%), implying full-year EPS of ¥134.34. The modest profit-growth targets against double-digit planned revenue growth reflect continued investment in store expansion and rising operating costs, even as the strong first quarter provides an encouraging cushion against the full-year plan.
| Metric | Q1 FY12/2026 | Q1 FY12/2025 | YoY |
|---|---|---|---|
| Revenue (¥M) | 8,241 | 7,284 | +13.1% |
| Operating profit (¥M) | 1,031 | 532 | +93.5% |
| Ordinary profit (¥M) | 1,037 | 553 | +87.6% |
| Net profit attrib. to owners (¥M) | 693 | 373 | +85.9% |
| Basic EPS (¥) | 46.60 | 25.08 | +85.8% |
| FY26 full-year OP guidance (¥M) | 3,000 | — | +2.4% |
| FY26 annual dividend (¥) | 28.00 | 28.00 | 0.0% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.