ASAKUMA shares fall sharply as Q1 operating profit declines by double digits
ASAKUMA CO., LTD. <7678> shares fell sharply after reporting first-quarter (February-April) non-consolidated earnings after the close on the 10th. Net sales rose 25.0% year-on-year to 2.866 billion yen, while operating profit fell 13.2% to 97 million yen and net profit dropped 43.3% to 52 million yen.
While net sales grew following the opening of three new "Steak no ASAKUMA" and one curry format restaurants, upfront costs for the new locations weighed on profits. The company maintained its full-year forecast for the year ending January 2027, projecting net sales of 12.3 billion yen, operating profit of 660 million yen, and net profit of 409 million yen.
The company also announced plans to buy back up to 67,000 treasury shares through the Tokyo Stock Exchange's off-exchange system (ToSTNeT-3) on the morning of the 11th. ASAKUMA later announced it acquired 66,000 shares for 436.26 million yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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