Round One (4680) Q1 2026 earnings summary

Executive summary

• Revenue for FY2026.3 1Q rose 7.7% year-over-year to ¥43.48bn, with operating profit up 9.8% to ¥6.07bn and profit up 0.3% to ¥3.40bn.

• Store count increased to 160, driven by 6 new US stores and 1 in China, offset by 1 closure each in Japan and China.

• IFRS adopted from FY2026.3 for improved comparability and management efficiency.

• Comprehensive income declined sharply to ¥2.30bn from ¥5.45bn a year earlier, mainly due to negative foreign currency translation effects.

Financial highlights

• Gross profit increased 17.1% year-over-year to ¥8.05bn, with gross margin improvement.

• EBITDA reached ¥16.52bn, up from ¥16.14bn; adjusted EBITDA was ¥16.56bn, up from ¥16.24bn.

• Operating profit margin improved to 14.0% from 13.7% year-over-year.

• SG&A expenses rose 28% year-over-year, impacting operating leverage.

• Basic earnings per share rose to ¥12.99 from ¥12.58 year-over-year.

Outlook and guidance

• FY2026.3 full-year revenue projected at ¥193.16bn, with operating profit of ¥31.22bn and profit of ¥18.45bn.

• Plan to open 16 new stores (10 in the US, 3 Delicious, 1 in Japan, 1 in China), targeting 175 stores by year-end.

• Dividend payout ratio targeted at 25% of full-year profit, with quarterly dividends of ¥4.5 per share and full-year dividend forecast raised to ¥18.00 per share.