Matsuya Foods Holdings Co., Ltd. (TSE: 9887) — operator of the "Matsuya" beef-bowl (gyudon) chain, the "Matsunoya" tonkatsu chain and a growing ramen business — reported record results on May 15, 2026 for the fiscal year ended March 2026. Consolidated revenue rose 19.6% year-on-year to ¥184,474 million, operating profit jumped 72.3% to ¥7,594 million, ordinary profit climbed 62.1% to ¥8,345 million, and net profit attributable to owners surged 72.6% to ¥3,772 million — all record highs.
Store expansion and cost discipline lift margins
Same-store sales rose to 110.5% of the prior year, and new openings added to the top line. The group opened 104 directly-run stores and, through the consolidation of Matsufuji and Matsufuji Foods, added 121 ramen outlets, ending the year with 1,573 stores (gyudon 1,185, tonkatsu 195, ramen 132, sushi 21, overseas/other 40). Although the cost-of-sales ratio edged up to 36.8% from 36.1%, lower fixed-cost ratios improved the SG&A ratio to 59.1% from 61.0%, and the closely-watched "FL cost" ratio (food + labour) improved to 66.4% from 66.9%.
Investing for further record growth
Total assets stood at ¥140,787 million and net assets at ¥57,667 million, with the equity ratio easing to 41.0% from 43.8% as the company funded new stores, renovations (178 stores) and the Matsufuji acquisition. Operating cash flow rose to ¥15,347 million.
For the fiscal year ending March 2027 Matsuya Foods plans yet another record profit, continuing to invest in new stores, renovations and personnel while pursuing cost-structure reforms to defend margins.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 184,474 | 154,242 | +19.6% |
| Operating profit (¥ million) | 7,594 | 4,408 | +72.3% |
| Ordinary profit (¥ million) | 8,345 | 5,148 | +62.1% |
| Net profit (¥ million) | 3,772 | 2,186 | +72.6% |
| Total assets (¥ million) | 140,787 | 104,155 | +35.2% |
| Equity ratio | 41.0% | 43.8% | — |
| Operating cash flow (¥ million) | 15,347 | 8,322 | +84.4% |
| Stores (number) | 1,573 | — | — |
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.