Major Estimate Revision • May 22
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥123.7b to JP¥121.8b. EPS estimate also fell from JP¥157 per share to JP¥131 per share. Net income forecast to grow 2.9% next year vs 11% growth forecast for Hospitality industry in Japan. Consensus price target down from JP¥3,600 to JP¥3,250. Share price was steady at JP¥2,779 over the past week. Reported Earnings • May 20
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥141 (down from JP¥143 in FY 2025). Revenue: JP¥116.8b (up 5.2% from FY 2025). Net income: JP¥7.47b (down 7.4% from FY 2025). Profit margin: 6.4% (down from 7.3% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Announcement • May 18
Ohsho Food Service Corp., Annual General Meeting, Jun 25, 2026 Ohsho Food Service Corp., Annual General Meeting, Jun 25, 2026. Announcement • May 09
Ohsho Food Service Corp. to Report Q4, 2026 Results on May 15, 2026 Ohsho Food Service Corp. announced that they will report Q4, 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (0.9%). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥29.57 (vs JP¥27.62 in 3Q 2025) Third quarter 2026 results: EPS: JP¥29.57. Revenue: JP¥28.8b (up 4.4% from 3Q 2025). Net income: JP¥1.55b (flat on 3Q 2025). Profit margin: 5.4% (down from 5.7% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Japan. Declared Dividend • Dec 03
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 1.8%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
Ohsho Food Service Corp. to Report Q3, 2026 Results on Jan 30, 2026 Ohsho Food Service Corp. announced that they will report Q3, 2026 results on Jan 30, 2026 Price Target Changed • Nov 22
Price target decreased by 10% to JP¥3,433 Down from JP¥3,833, the current price target is an average from 3 analysts. New target price is 7.8% above last closing price of JP¥3,185. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of JP¥153 for next year compared to JP¥143 last year. New Risk • Nov 04
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥28.89 (vs JP¥34.39 in 2Q 2025) Second quarter 2026 results: EPS: JP¥28.89 (down from JP¥34.39 in 2Q 2025). Revenue: JP¥28.8b (up 5.0% from 2Q 2025). Net income: JP¥1.52b (down 22% from 2Q 2025). Profit margin: 5.3% (down from 7.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 06
Now 22% overvalued Over the last 90 days, the stock has fallen 1.4% to JP¥3,615. The fair value is estimated to be JP¥2,968, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 4.2%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 4.8% in the next 2 years. Announcement • Sep 01
Ohsho Food Service Corp. to Report Q2, 2026 Results on Oct 31, 2025 Ohsho Food Service Corp. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 01
First quarter 2026 earnings released: EPS: JP¥39.22 (vs JP¥30.14 in 1Q 2025) First quarter 2026 results: EPS: JP¥39.22 (up from JP¥30.14 in 1Q 2025). Revenue: JP¥29.7b (up 12% from 1Q 2025). Net income: JP¥2.13b (up 25% from 1Q 2025). Profit margin: 7.2% (up from 6.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 1.5%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥143 (up from JP¥140 in FY 2024). Revenue: JP¥111.0b (up 9.5% from FY 2024). Net income: JP¥8.07b (up 2.0% from FY 2024). Profit margin: 7.3% (down from 7.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jun 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥3,610. The fair value is estimated to be JP¥3,007, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Announcement • Jun 13
Ohsho Food Service Corp. Announces Executive and Board Changes Ohsho Food Service Corp. announced that the Board of Directors has decided at a meeting held on June 12, 2025 to make the following organizational and personnel changes effective July 1, 2025. Yukihiro Teraoka: Executive Officer Director of Store Development and Franchise Contract Management. Hideki Nagahashi: Executive Officer Director of West Japan Third Sales department. Satoru Yoshimura: Executive Officer General Manager of Manufacturing Division and Director of East Japan Manufacturing and Plant Manager of Higashi-Matsuyama Plant. Shuichi Miyaji: Executive Officer General Manager of Manufacturing Management Division and Director of Purchasing. Tomokazu Kusuda: Executive Officer Director of Information Services department. Yuto Miura: Director of personnel department. Takashi Yoshimoto: Director of Regal department. Announcement • May 31
Ohsho Food Service Corp. to Report Q1, 2026 Results on Jul 31, 2025 Ohsho Food Service Corp. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥143 (up from JP¥140 in FY 2024). Revenue: JP¥111.0b (up 9.5% from FY 2024). Net income: JP¥8.07b (up 2.0% from FY 2024). Profit margin: 7.3% (down from 7.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • May 16
Ohsho Food Service Corp. (TSE:9936) announces an Equity Buyback for 4,500,000 shares, representing 7.96% for ¥15,525 million. Ohsho Food Service Corp. (TSE:9936) announces a share repurchase program. Under the program, the company will repurchase up to 4,500,000 common stock, representing 7.96% of its share capital, for ¥15,525 million. The shares will be repurchased at a price of ¥3,450 per share. The purpose of the program is to enhance medium- and long-term corporate value and continuously improve shareholder returns in order to further strengthen shareholder returns and improve capital efficiency. The share repurchase program will run until May 16, 2025. As of April 30, 2025, the company had 56,510,061 shares issued (excluding treasury shares) and 13,348,629 shares in treasury. Announcement • May 15
Ohsho Food Service Corp., Annual General Meeting, Jun 26, 2025 Ohsho Food Service Corp., Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (0.8%). Buy Or Sell Opportunity • Mar 10
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 5.6% to JP¥3,230. The fair value is estimated to be JP¥2,572, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has declined by 3.0%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Announcement • Mar 08
Ohsho Food Service Corp. to Report Fiscal Year 2025 Results on May 15, 2025 Ohsho Food Service Corp. announced that they will report fiscal year 2025 results on May 15, 2025 Buy Or Sell Opportunity • Feb 22
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at JP¥3,035. The fair value is estimated to be JP¥2,522, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has declined by 3.0%. Revenue is forecast to grow by 7.8% in 2 years. Earnings are forecast to grow by 8.0% in the next 2 years. Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥27.62 (vs JP¥30.69 in 3Q 2024) Third quarter 2025 results: EPS: JP¥27.62 (down from JP¥30.69 in 3Q 2024). Revenue: JP¥27.6b (up 6.9% from 3Q 2024). Net income: JP¥1.56b (down 9.9% from 3Q 2024). Profit margin: 5.7% (down from 6.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Jan 03
Ohsho Food Service Corp. to Report Q3, 2025 Results on Jan 31, 2025 Ohsho Food Service Corp. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Dec 04
First half dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.3%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 22% over the next 3 years. However, it would need to fall by 86% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 02
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: JP¥27.5b (up 9.3% from 2Q 2024). Net income: JP¥1.94b (up 10% from 2Q 2024). Profit margin: 7.1% (in line with 2Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in Japan. Major Estimate Revision • Sep 30
Consensus EPS estimates fall by 67% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥136 to JP¥45.20. Revenue forecast unchanged from JP¥108.0b at last update. Net income forecast to grow 4.0% next year vs 13% growth forecast for Hospitality industry in Japan. Consensus price target broadly unchanged at JP¥3,233. Share price rose 3.2% to JP¥2,849 over the past week. Announcement • Sep 27
Ohsho Food Service Corp. to Report Q2, 2025 Results on Oct 31, 2024 Ohsho Food Service Corp. announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥7,460, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Hospitality industry in Japan. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,874 per share. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to JP¥7,050. The fair value is estimated to be JP¥8,896, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥90.43 (vs JP¥114 in 1Q 2024) First quarter 2025 results: EPS: JP¥90.43 (down from JP¥114 in 1Q 2024). Revenue: JP¥26.4b (up 7.3% from 1Q 2024). Net income: JP¥1.70b (down 20% from 1Q 2024). Profit margin: 6.4% (down from 8.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 1.7%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 02
Ohsho Food Service Corp. to Report Q1, 2025 Results on Jul 31, 2024 Ohsho Food Service Corp. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 20
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥420 (up from JP¥330 in FY 2023). Revenue: JP¥101.4b (up 9.0% from FY 2023). Net income: JP¥7.91b (up 27% from FY 2023). Profit margin: 7.8% (up from 6.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 17
Ohsho Food Service Corp., Annual General Meeting, Jun 27, 2024 Ohsho Food Service Corp., Annual General Meeting, Jun 27, 2024. Announcement • Mar 28
Ohsho Food Service Corp. to Report Fiscal Year 2024 Results on May 15, 2024 Ohsho Food Service Corp. announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.6%). Announcement • Feb 16
Ohsho Food Service Corp. Provides Year End Dividend Guidance for the Full Year Ending March 31, 2024 Ohsho Food Service Corp. provided year end dividend guidance for the full year ending March 31, 2024. For the period, the company expected year end dividend of JPY 70 per share compared to JPY 75 per share paid a year ago. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥92.08 (vs JP¥76.31 in 3Q 2023) Third quarter 2024 results: EPS: JP¥92.08 (up from JP¥76.31 in 3Q 2023). Revenue: JP¥25.8b (up 7.8% from 3Q 2023). Net income: JP¥1.73b (up 21% from 3Q 2023). Profit margin: 6.7% (up from 6.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Announcement • Dec 28
Ohsho Food Service Corp. to Report Q3, 2024 Results on Jan 31, 2024 Ohsho Food Service Corp. announced that they will report Q3, 2024 results on Jan 31, 2024 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥8,030, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 26x in the Hospitality industry in Japan. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,387 per share. Major Estimate Revision • Nov 07
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥98.8b to JP¥101.1b. EPS estimate increased from JP¥318 to JP¥369 per share. Net income forecast to shrink 0.7% next year vs 24% growth forecast for Hospitality industry in Japan . Consensus price target up from JP¥7,967 to JP¥9,100. Share price rose 15% to JP¥8,030 over the past week. Price Target Changed • Nov 04
Price target increased by 14% to JP¥9,100 Up from JP¥7,967, the current price target is an average from 3 analysts. New target price is 15% above last closing price of JP¥7,910. Stock is up 32% over the past year. The company is forecast to post earnings per share of JP¥369 for next year compared to JP¥330 last year. New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥93.58 (vs JP¥63.82 in 2Q 2023) Second quarter 2024 results: EPS: JP¥93.58 (up from JP¥63.82 in 2Q 2023). Revenue: JP¥25.1b (up 12% from 2Q 2023). Net income: JP¥1.76b (up 47% from 2Q 2023). Profit margin: 7.0% (up from 5.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥65.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (0.5%). Announcement • Aug 27
Ohsho Food Service Corp. to Report Q2, 2024 Results on Oct 31, 2023 Ohsho Food Service Corp. announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥114 (vs JP¥99.64 in 1Q 2023) First quarter 2024 results: EPS: JP¥114 (up from JP¥99.64 in 1Q 2023). Revenue: JP¥24.6b (up 8.9% from 1Q 2023). Net income: JP¥2.14b (up 14% from 1Q 2023). Profit margin: 8.7% (up from 8.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Ohsho Food Service Corp. to Report Q1, 2024 Results on Jul 31, 2023 Ohsho Food Service Corp. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 20
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥330 (down from JP¥469 in FY 2022). Revenue: JP¥93.0b (up 9.7% from FY 2022). Net income: JP¥6.21b (down 30% from FY 2022). Profit margin: 6.7% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 16
Ohsho Food Service Corp., Annual General Meeting, Jun 28, 2023 Ohsho Food Service Corp., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (0.5%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥76.31 (vs JP¥146 in 3Q 2022) Third quarter 2023 results: EPS: JP¥76.31 (down from JP¥146 in 3Q 2022). Revenue: JP¥23.9b (up 7.3% from 3Q 2022). Net income: JP¥1.44b (down 48% from 3Q 2022). Profit margin: 6.0% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jan 14
Ohsho Food Service Corp. to Report Q3, 2023 Results on Jan 31, 2023 Ohsho Food Service Corp. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: JP¥22.5b (up 11% from 2Q 2022). Net income: JP¥1.20b (down 44% from 2Q 2022). Profit margin: 5.3% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥63.82 (vs JP¥113 in 2Q 2022) Second quarter 2023 results: EPS: JP¥63.82 (down from JP¥113 in 2Q 2022). Revenue: JP¥22.5b (up 11% from 2Q 2022). Net income: JP¥1.20b (down 44% from 2Q 2022). Profit margin: 5.3% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (0.5%). Announcement • Aug 28
Ohsho Food Service Corp. to Report Q2, 2023 Results on Oct 31, 2022 Ohsho Food Service Corp. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥99.64 (vs JP¥114 in 1Q 2022) First quarter 2023 results: EPS: JP¥99.64 (down from JP¥114 in 1Q 2022). Revenue: JP¥22.6b (up 12% from 1Q 2022). Net income: JP¥1.87b (down 13% from 1Q 2022). Profit margin: 8.3% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.3%, compared to a 37% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jun 18
Ohsho Food Service Corp. to Report Q1, 2023 Results on Jul 29, 2022 Ohsho Food Service Corp. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 20
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥469 (up from JP¥228 in FY 2021). Revenue: JP¥84.8b (up 5.2% from FY 2021). Net income: JP¥8.81b (up 105% from FY 2021). Profit margin: 10% (up from 5.3% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 9.5%, compared to a 50% growth forecast for the restaurants industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to JP¥7,900 Up from JP¥7,300, the current price target is an average from 2 analysts. New target price is 31% above last closing price of JP¥6,010. Stock is up 7.3% over the past year. The company is forecast to post earnings per share of JP¥432 for next year compared to JP¥228 last year. 
