Round One (4680) Q2 2026 earnings summary

Executive summary

• Revenue for FY2026.3 is projected at ¥188.78bn, up from ¥177.05bn in FY2025.3, with continued growth in Japan and the USA.

• Operating profit is forecast at ¥30.13bn, with a margin of 16.0%, slightly down from the original plan due to revised store opening schedules and exchange rate effects.

• Net profit is expected to reach ¥17.83bn, compared to ¥15.40bn in the previous year.

• Revenue for the six months ended September 2025 rose 6.9% year-over-year to ¥91.98bn, with operating profit up 7.4% to ¥14.95bn and net profit up 1.8% to ¥8.85bn.

• The company is expanding its U.S. presence, including new store formats with food halls and the launch of the Delicious Project for authentic Japanese cuisine.

Financial highlights

• Consolidated revenue for 1H FY2026.3 was ¥91.98bn, a 6.9% increase year-over-year.

• Operating profit for 1H FY2026.3 was ¥14.94bn, up 7.4% year-over-year, with a margin of 16.3%.

• Gross profit rose 16.1% year-over-year to ¥19.61bn.

• EBITDA for the period was ¥35.84bn, with adjusted EBITDA at ¥36.35bn.

• Basic earnings per share rose to ¥33.75 from ¥32.21 year-over-year.

Outlook and guidance

• Revised full-year revenue guidance is ¥188.78bn, with operating profit at ¥30.13bn and net profit at ¥17.83bn.

• Basic earnings per share for the full year is forecast at ¥67.99.

• Dividend forecast for the year ending March 2026 is ¥18.00 per share, up from ¥16.00 in the previous year.

• Store openings in the USA have been revised downward due to construction delays, but the company maintains its long-term target of 150-200 stores in the U.S.

• Dividend payout ratio is targeted at approximately 25% of full-year profit.