Eternal Hospitality Group Co., Ltd. (TSE: 3193), the Osaka-based operator of the Torikizoku yakitori-izakaya chain, reported its third-quarter cumulative results for the fiscal year ending July 2026 on June 5, 2026. The nine-month period from August 1, 2025 to April 30, 2026 showed broad-based momentum: consolidated revenue grew 13.3% year-on-year to ¥38,318 million, against ¥33,822 million in the comparable period. Operating profit advanced 16.9% to ¥2,367 million, ordinary profit rose 20.5% to ¥2,394 million, and net profit attributable to owners of the parent climbed 37.2% to ¥1,532 million, up from ¥1,116 million a year earlier. Earnings per share increased to ¥132.86 from ¥96.87.
The profit growth rate comfortably outpaced top-line expansion, reflecting operating leverage as the group's restaurant network scaled. Comprehensive income for the nine-month period reached ¥1,590 million, up 53.0% from ¥1,039 million, suggesting that unrealised gains and other comprehensive items contributed positively alongside the improved trading result. The period also saw a change to the scope of consolidation: Eternal Hospitality Japan Co., Ltd. was newly added as a consolidated subsidiary, expanding the group's operational structure.
Torikizoku value proposition underpins sustained traffic recovery
Torikizoku has built its brand around a distinctive value-for-money proposition — all yakitori skewers and draft beer priced uniformly at ¥330 (tax-included) — which resonates strongly in an environment of ongoing cost-of-living pressures for Japanese consumers. The chain's accessible price point, combined with a straightforward menu centred on grilled chicken skewers (torikizoku literally means "chicken aristocrat"), has driven persistent traffic recovery since the post-pandemic normalisation of dining-out behaviour. The group has continued to invest in new outlets and remodels, helping sustain the revenue trajectory. With the nine-month revenue run-rate already at ¥38.3 billion, the company is tracking closely to its full-year guidance of ¥52,801 million — implying a fourth-quarter revenue target of roughly ¥14.5 billion.
Balance sheet strengthens as equity ratio reaches 48.3%
Total consolidated assets expanded to ¥22,457 million at the end of the third quarter, up from ¥21,382 million at the prior fiscal year-end, supported by the addition of the new consolidated subsidiary and underlying business growth. Net assets rose to ¥10,836 million from ¥9,774 million, and the equity ratio improved to 48.3% from 45.7% — a meaningful strengthening for a restaurant operator, where balance-sheet conservatism provides a buffer against cyclical demand swings and rising input costs. The group's financial position appears comfortably supported to fund continued network expansion through the remainder of the fiscal year.
Full-year guidance maintained; dividend held at ¥46
Management made no revision to its full-year consolidated guidance, which targets revenue of ¥52,801 million (+13.9%), operating profit of ¥3,430 million (+9.9%), ordinary profit of ¥3,435 million (+10.7%), and net profit of ¥2,113 million (+22.8%), equivalent to EPS of ¥183.19. With three quarters completed, the group has already achieved approximately 73% of the full-year revenue target and 72% of the operating profit target, leaving the guidance path broadly intact. The annual dividend forecast remains at ¥46 per share (¥23 interim + ¥23 year-end), unchanged from the prior year, consistent with a steady shareholder-return policy.
| Metric | 9M FY2026 | 9M FY2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 38,318 | 33,822 | +13.3% |
| Operating profit (¥ million) | 2,367 | 2,025 | +16.9% |
| Ordinary profit (¥ million) | 2,394 | 1,988 | +20.5% |
| Net profit attrib. to owners (¥ million) | 1,532 | 1,116 | +37.2% |
| EPS (¥) | 132.86 | 96.87 | +37.2% |
| Comprehensive income (¥ million) | 1,590 | 1,039 | +53.0% |
| Total assets (¥ million) | 22,457 | 21,382 | +5.0% |
| Net assets (¥ million) | 10,836 | 9,774 | +10.9% |
| Equity ratio | 48.3% | 45.7% | +2.6pp |
| Annual dividend forecast (¥) | 46 | 46 | — |
| FY guidance — revenue (¥ million) | 52,801 | — | +13.9% |
| FY guidance — operating profit (¥ million) | 3,430 | — | +9.9% |
| FY guidance — ordinary profit (¥ million) | 3,435 | — | +10.7% |
| FY guidance — net profit (¥ million) | 2,113 | — | +22.8% |
| FY guidance — EPS (¥) | 183.19 | — | — |
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