Fujio Food System Co., Ltd. 1 Sec. TSE（2752）

Copyright copy Fujio Food System Co Ltd All rights reserved 1

Fujio Food System Co Ltd 1 Sec TSE（2752）

FY2018 Financial Results briefing


Content

FY2019

Business Strategy

FY2018

Financial results summary


FY2018 Financial results summary

Photo さち福やCAFEacute 天王寺MIO店


Indicator （in million JPY） FY2017 FY2018 YOY

Actual Proportion Actual Proportion Variance Ratio

Sales 35938 1000 36145 1000 207 06

Directly-managed business 34071 948 34275 948 204 06

Franchised business 1866 52 1869 52 3 02

Cost of sales 12793 356 12724 352 -68 -05

Gross profit 23145 644 23420 648 275 12

SGA costs 20540 572 21161 585 621 30

Operating profit 2605 72 2259 63 -346 -133

Ordinary profit 2513 70 2189 61 -324 -129

Extraordinary profit 158 04 5 00 -153 -968

Extraordinary loss 494 14 647 18 152 308

Net income before taxation 2177 61 1547 43 -630 -290

Net income attributable to parent shareholder

1403 39 911 25 -491 -350

EBITDA 4065 113 3607 100 -458 -113

Sales uarr06

Sales at domestic Directly-managed outlets 967

New Domestic Directly-managed outlets 55outlets

Operating profit darr133

Operating profit ratio darr09

Cost of sales ratio

SGA cost ratio

Other cost ratio

Rent ratio

Utilities cost ratio

Impairment loss

Loss on retirement of noncurrent assets

Loss on valuation of stocks of subsidiaries

darr04

uarr 13

uarr 05

uarr 01

darr 005

yen241 m

yen 56 m

yen 349 m

Labour cost ratio uarr 05

Advertising cost ratio

EBITDA=Operating profit +Depreciation amp Amortization

SGA Selling General and Administrative costs

uarr 01

FY2018 Consolidated Income Statement Summary


Transition of Consolidated Financial results in the past 5 years

A record-high Sales however the Operating Profit Ordinary Profit and Net income decreased

Sales Operating profit

Net income Ordinary profit

（in million JPY）（in million JPY）


14568 16121 17355 17561 17517

30486 33324

34900 35938 36145

FY2014 FY2015 FY2016 FY2017 FY2018

2Q accumulated Full-year

1364 1105

1365 1167 1177

2716

2363 2410 2605

2259

FY2014 FY2015 FY2016 FY2017 FY2018


1322 1080

1324 1140 1163

2669

2273 2323 2513

2189

FY2014 FY2015 FY2016 FY2017 FY2018


744 626

739 629 596

1405

1079 1083

1403

911

FY2014 FY2015 FY2016 FY2017 FY2018



Transition of consolidated financial results per quarter

The sales at new outlets and the recovery of existing business contributed to the sales growth however the profit declined because of a rise in SGA cost including the labour cost

Sales


（in m JPY）

Operating profit （in m JPY）

EBITDA

（in m JPY）

7206 7362 7920 7998 8059 8062

8599 8604 8668 8687 8897 8648 8799 8762 9226 9151 8917 8600 9191 9436

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

779

585 678 674

791

314

607 651 790

575 588 457

627 540

715 723 674

503 543 539

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

1036 928 962

1042 1120

709

1037 1106 1173 991 1012

881 979

893

1094 1099 989

829 886 903

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018


FY2018 YOY Operating profit analysis

uarr2605

uarr2259

uarr204 uarr3 uarr68

uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000

FY2017 (year ended 31st Dec)

Sales (Directly managed outlets）

Sales （Franchised

outlets）

Cost of sales Labour cost Utilities cost Depreciation amp

Amortization

Marketing amp Advertising

cost

Rent Outsourcing cost

Other costs FY2018 (year ended 31st Dec)

(in m JPY)


FY2018 Actual-to-plan rate

（in m JYP）

FY2018 FY2018 Actual-to-plan rate

Plan Ratio Actual Ratio Variance Progression

rate

Sales 36100 1000 36145 1000 45 1001

Operating profit 2420 67 2259 63 -161 933

Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717

Sales 1001 Operating profit 933 Ordinary profit 927 Net income 717


(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018

（Domestic directly-managed outlets）

Sales Proportion Sales Proportion Variance Rate of change

No of new outlet

opening

No of outlets

Maidoookini Shokudo⁽sup1⁾

9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510

FY2018 Consolidated Sales at directly-managed outlets by brand

Note (1)Uchino Shokudo amp Gekotei are included

(2)New outlet opening and Sales of Sachifukuya Ebinoya etc are improved

The Sales YOY are up 06 (yen 204 m increased)

The percentage of Sales at existing outlets is 967 55 new outlets contributed to the Sales growth


Transition of the YOY Sales at Domestic directly-managed outlets

Directly-managed outlets 967 Maidoookini Shokudo 973 Kushiya Monogatari 930

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Directly-managed outlets

1015 962 978 959 948 937 911 977 993 967 980 977

Maidoookini Shokudo 990 950 1004 955 963 958 933 950 986 987 1013 986

Kushiya Monogatari 1019 933 926 913 875 853 816 957 1021 923 947 971

800

850

900

950

1000

1050

1100


Diectly-managed outlets Maidoookini Shokudo Kushiya Monogatari


FY2018 New domestic outlet openings

55 new outlets opened in 2018 The actual(55 outlets) exceeded the plan(40 outlets)

New brands opened eg Eltana(a bagel cafe) MODENA MAMA(Italian restaurant)

2018 2018

Name of outlet No of new outlets No of new outlets

Forecast Actual


Maidoookini Shokudo 5 6

Nakaoroshi Kajitsu Kosei Shokudo Osaka Prefectural Police Headquarters Shokudo Himejima Shokudo Harinakano Shokudo Kuzuha Ekimae Shokudo Fukujima Shokudo

Kushiya Monogatari 3 4

Aeon mall Hamamatsuichino Shibuya Gourmet Town Machida MODI CELEO Hachioji

Ebinoya 5 9

Aeon mall Tokoname Osaka ekimae 3rd BLDG Hamamatsuichino Morimomiya EBISTA Nishinomiya CELEO Hachioji NAMBA NANNAN Aeon mall Dainichi Lalaport Tokyo Bay

Sachifukuya 3 6 Grand Emio Tokorozawa Osaka Intl Airport Crysta Nagahori Mikage CLASSE Aeon mall Tokoname Soka VARIE

Eltana 2 2 Higobashi Flight of dreams

Ekimae parlor 2 1 Kitakyuhoji

Uchino Shokudo 2 2 TerraceMall Shonan Lalaport Nagoya Minato AQULS

Others 18 25

Kushi amp Tako Minamimorimachi Circolo Minamimorimachi Sabaroku Seimenjo Minamimorimachi Roman no Teppan Modena Mama Kitahama Modena Mama Osaka Ekimae 3rd BLDG Fujioken Itami Katsuma Tengo etc

ＴＯＴＡＬ 40 55

Franchised outlets

20 10

Osaka Chuo Shokudo Kushiya Monogatari Aeon mall Zama Ebinoya Yume Town Tokushima Ebinoya Ario Kurashiki Kushiya MonogatariThe outlets Hiroshima Igahakuho Shokudo Ebinoya Aeon mall Hiroshima Fuchu Don Aeon mall Hiroshima Fuchu Sabaroku Seimenjo Hankyu Umeda Sachifukuya Hiroshima Ekie

Total 60 65


FY2018 New overseas outlet opening

4 new overseas outlets opened in 2018 25 overseas outlets are owned currently

Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet

Plan Actual Outlet closure

No of outlet

Shanghai China 7 2 0 2 5

3 Maidoookini Shokudo 2 Uchino Shokudo

US 2 0 0 0 2 2 Tsurumaru

Taiwan 12 11 4 1 15 12 Maidoookini Shokudo 2 Kushiya Monogatari 1 Sachifukuya

Indonesia 5 3 0 2 3 1 Kushiya Monogatari 2 Uchino Shokudo

Others 1 5 0 1 0

TOTAL 27 21 4 6 25


FY2018 Consolidated BS Summary

（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149

Cash and deposits 2963 137 1921 88 -1041 -351

Others 2336 108 2503 115 167 71

Non-current assets 16276 754 17252 792 975 60

Tangible non-current assets 9357 434 10057 462 699 75

Intangible non-current assets 63 03 148 06 85 1338

Investments amp other incomes 6855 318 7045 323 190 28

Deferred Income 0 00 0 00 - -

Total assets 21575 1000 21759 1000 183 09

Current liabilities 6553 304 6556 301 3 00

Accounts payable 1492 104 1559 71 67 44

Current portion of long-term loans payable

2240 104 2045 93 -194 -87

Current portion of convertible bonds

0 00 0 00 - -

Non-current liabilities 5905 274 5738 263 -167 -28

Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators

Total cash and cash equivalents

yen1921 m 1041m JPYdarr

Total debt with interest

yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets

yen 9465 m yen 349 muarr

Debt with interest－Cash amp Cash equivalents

YOY

YOY

YOY


Transition of Net assets

Compare with 2011rsquos the amount of net assets increased by 34 times at a ratio 434

2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000

FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

（in m JPY）

Net assets

Net assets rate


Debt with interest amp Debt-to-Equity Ratio

6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000


（in m JPY） Debt with interest

Debt-to-Equity Ratio


FY2018 Consolidated Cash Flow Summary

（in m JPY） FY2017 FY2018 YOY

Actual Actual Variance

Operating Cash Flow 3344 2651 -693

Net income before taxation 2177 1547 -630

Depreciation amp Amortization 1463 1354 -109

Impairment loss 382 241 -141

Income taxes paid -955 -915 40

Investing Cash Flow -1632 -2876 -1244

Purchase of property plant and equipment

-1164 -2224 -1060

Payments for lease deposits -226 -312 -86

Financing Cash Flow -1218 -803 415

Proceeds from long-term loans payable

1300 2000 700

Repayment of long-term loan payable

-2430 -2435 -5

Redemption of bonds -60 - 60

Cash dividends paid -298 -372 -74

Net increase(decrease) in cash amp cash equivalents 498 -1041 -1539

Cash amp Cash equivalents at beginning of year 2186 2684 498

Cash amp Cash equivalents at end of year 2684 1642 -1041

Factors changed the Cash Flow

Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan

YOY Sales1109 YOY Operating income1107

YOY Ordinary income1105 YOY Net income1299


Actual Proportion Plan Proportion Variance Ratio

Net sales 36145 1000 40100 1000 3955 109

Operating income 2259 62 2500 62 241 107

Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299

Directly-managed outlets 55 60 5

New outlet opening

Franchised outlets 10 20 10

Total 65 80 15

YOY Sales at existing outlets 967 1010


Transition of consolidated financial results

The net sales is targeted to reach the record levels the operating income ordinary profit and net income increase steadily

Net sales Operating income


（in m JPY）（in m JPY）


30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）

（Target）（Target）

（Target）


FY2019 New domestic outlet open plan

60 new domestic outlets are targeted to open in 2019 mostly the brands with outstanding performance eg Sachifukuya Ebinoya but also other brands eg Katsuma Fujioken and new brands are also considered

FY2018 FY2019

Name of outlet No of new outlet opening (Actual)

No of new outlet opening (Plan)



Nakanoshima (Jan) Noda (Feb) Otemon University (Apr) Tamatsukuri Ekimae (Aug) etc


Amagasaki Qs mall (Feb) Terrace Mall Matsudo (Oct) Lalaport Namatsu (Oct)

Tsurumaru 11 1 Noda (Feb)

Sachifukuya 6 16 Namba City (Feb) Kawasaki SolidSquare (Mar) SUINA Muromachi (Mar) AQUA City Odaiba (Mar) Kaihimmakuhari (Apr) Sotetsu Fresa Sannomiya (May) Terrace Mall Matsudo (Oct) etc

Ebinoya 9 9 Keihan Mall Kyobashi (Jan) Wing Kamiooka (Jan) Aeon Mall Uchihara (Mar) Aeon Mall Kobe North (Mar) Le FRONT Kawasaki (Apr) Aeon Mall Kashiwa (Apr) Marui Mizonokuchi (Oct) etc

Fujioken 1 3 Nishishodai (Mar) Aeon Mall Higashiura (Apr) etc

Katsuma 2 6 Tenjinbashisuji4thAvenue (Feb) Aeon Mall Tomio South (Feb) Aeon Mall Gushikawa (May) etc

Others 16 17 Umeinari Minamimorimachi (Jan) Musubiya Kansai Intl Airport (Jan) Sabaroku Seimesho Kyoto Saiin(Feb) Kushi amp Tako Tenjibashisuji 3rdAvenue (May) Sabaroku Seimesho Abeno (May) Kappogi Sotetsu Fresa Namba (Aug) Gekotei Daimaru Shisaibashi (Nov) etc

Total 55 60

Franchised outlets 10 20

Total 65 80


FY2019 New overseas outlet open plan

12 new overseas outlets are targeted to open in 2019 owning 37 overseas outlets by FY2019

CountryCity

FY2018 FY2019 FY2019

Note No of outlets Forecast No of outlets

Shanghai China 5 2 7


US 2 1 3 2 Tsurumaru 1 Ebinoya

Taiwan 15 6 21 14 Maidoookini Shokudo 4 Kushiya Monogatari 3 Sachifukuya

Indonesia 3 0 3 1 Kushiya Monogatari 2 Uchino Shokudo

Others 0 3 3 2 Tsurumaru in Philippines 1 Ebinoya in Canada

TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018

（in JPY） Shareholder return Net income per share Payout ratio

2 JPY of commemorative dividend for the transition to 1st Sec TSE is included


FY2019 Business Strategy

PhotoRose Garden in Okinawa


Improvement of Existing Domestic Outlets 1

Accelerated Expansion (Directly-managedFranchised) 2

Overseas Business Strategy 3

Strategy for MampA Capital amp Business Alliance 4

Productive Community Service Through ldquoFujio Farmrdquo amp ldquoFujio Childrdquo 5

FY2019 Business strategy amp its progression




Accelerated Expansion (Directly-managedFranchised)

Overseas Business Strategy

Strategy for MampA Capital amp Business Alliance

3

4

5

2

Productive Community Service Through ldquoFujio Farmrdquo amp ldquoFujio Childrdquo



1 Improvement of Existing Domestic Outlets

Strategy

Improving the performance of domestic outlets 1

Media strategy

TV Commercial of Kushiya Monogatari and Maidoookini Shokudo broadcasted in Aug and Nov

Coupons through mobile application eg ldquoSmart Newsrdquo ldquoGunosyrdquo

To introduce Rakuten point card service

To enhance the strategy to attract more foreign tourists

To reform the existing outlets and refine the menus pricing etc

To enhance the attractiveness of products in Shokudo by developing new types of Shokudo (eg Himeji Shokudo Harinakano)

To enhance the promotion for seasonal campaigns and products

To attract more customers through productive merchandising planning (eg Shokudorsquos day Coupons)

2


Improvement to the existing Maidoookini Shokudo performance

To enhance the promotion for seasonal rice to improve customer satisfaction

To diversify the toppings (green onion ginger cheese dried sardine) for the Tamagoyaki one of the well-known menu items thereby making it a value-added side dish that attracts more customers

FY2019 Business Strategy amp its progression

1 Improvement of Existing Domestic Outlets-1




Seasonal limited edition menus and ldquoShokudorsquos dayrdquo a promotion on every Tuesday should attract more customers

Continue offering Rakuten point card service and providing coupons through mobile apps (eg ldquoSmart NewsrdquoldquoGunosyrdquo)



Improvement to the existing Kushiya Monogatari performance


To discuss merchandise planning every 3 months to enhance seasonal campaigns and its products

TV commercial broadcasted from Aug 2018 to advertise the brand

To provide coupons


Oct ~ the middle of Dec The middle of Dec ~ Mar


Improvement to the existing Ebinoya performance

9 new outlets including franchised outlets of Ebinoya a brand with an established business model and outstanding performance are targeted to open by FY2019

Total of 46 outlets beyond FY2019

To advertise the seasonal campaigns and its products to attract more customers

To continue the popular all-you-can-eat Mentaiko




Improvement to the existing Sachifukuya performance

16 new outlets of Sachifukuya a brand with outstanding performance are targeted to open by FY2019



Cater to the needs of customers based on the location where the store is developed (eg Kyoto-style cuisine serving food in Ohitsu Cafeacute type)



Sep ~ Nov Dec ~ Feb

Sachifukuya in Piole Himeji


Improvement to the existing Katsuma performance

6 new outlets of Katsuma a brand with outstanding performance are targeted to open by FY2019 totalling 12 outlets beyond FY2019




Katsuma in Maya Kobe


To provide coupons through mobile app eg ldquoSmart Newsrdquo ldquoGunosyrdquo

The Rakuten point card service was introduced in July

New TV commercial of Kushiya Monogatari was broadcasted in Aug

TV commercial of Maidoookini Shokudo was broadcasted in the Kansai area in Nov Mr Yutaka Matsushige a famous Japanese actor was selected to act in the commercial


To improve the awareness of brands through pursuing the media strategy actively

1 Improvement of Existing Domestic Outlets‐2


Ebinoya in Kuromon ichiba market was awarded the ldquoCertificate of excellence 2018rdquo by Tripadvisor

Ebinoya in Shinsabashi was awarded the ldquoExcellent restaurant of the year 2018rdquo by Dazhong Dianping a popular review app in China


To enhance the strategy to attract foreign tourists



2




Improvement of Existing Domestic Outlets

Accelerated Expansion (Directly-managedfranchised)

1

4

5

3




２ Accelerated Expansion（Directly-managedfranchised）

Strategy

60 new domestic directly-managed outlets are targeted to open by FY2019

1

20 new domestic franchised outlets are targeted to open by FY2019

Refine the new brands opened after 2018 (eg ldquoModena mamardquo ldquoMusubiya Hinone Mizunonerdquo )

Speed up the new outlet opening schedule especially for those brands with outstanding performance eg ldquoSachifukuyardquo ldquoEbinoyardquo

Speed up the franchised outlet opening (Mainly ldquoMaidoookini Shokudordquo ldquoKushiya Monogatarirdquo )

Accelerate the franchising of brands with outstanding performance in directly-managed business (eg ldquoSachifukiyardquo ldquoEbinoyardquo)

New brand development amp Structure enhancement

２

3



New brand ldquoModena Mamardquo serving stone oven pizza opened on 24th Oct 2018 in Kitahama

Customers can casually stop by for authentic Italian food during lunch or after work

Modena Mama in Osaka Temmangu mae

Stone oven pizza

New brand development amp Structure enhancement-3 2



New brand ldquoMusubiya Hinone Mizunonerdquo serving Misubi (rice ball) a well-known Japanese food overseas opened in Kansai International Airport on 31st Jan 2019

To select a suitable location for store development


Musubiya Hinone Mizunone in Kansai International Airport


3





1

2

4

5




Existing business in Taiwan China (Shanghai) Indonesia and United States (Los Angeles)

25 overseas outlets are owned as of the end of 2018

1


Master License Agreement with Cabalen Management Co Inc (Philippines)

To start a full-scale expansion of Tsurumaru Udon Honpo in the Philippines

3

Master License Agreement with New One Dining Ltd (Canada)

To start a full-scale expansion of Tempura Ebinoya in Canada

2

To select the suitable brands for overseas expansion

Ebinoya Katsuma Musubiya Hinone Mitsunone

４

３ Overseas Business Strategy


３ Overseas Business Strategy‐1


Existing overseas business in Taiwan Shanghai China Indonesia Los Angeles US

Kushiya Monogatari in Port of Taichung Sachifukuya in Taipei Taiwan

Since the opening of Daan Forest Shokudo the 1st Maidoookini Shokudo opened in 2014 in Taiwain Fujio has grown to operate 15 outlets （12 Maidoookini Shokudo 2 Kushiyamonogatari 1 Sachifukuya)

Advance menu and location development to cater to local preferences in the existing market together with business partners in Taiwan




MLA with Cabalen Management Inc (Philippines)

Tsurumaru Udon x Tempura in Robinsons Place Manila


The 1st Tsurumaru opened in Robinsons Place Manila on 20th Feb 2019



Tempura ldquoEbinoyardquo Tonkatsu ldquoKatsumardquo ldquoMusubiya Hinone Mitsunonerdquo

３ Overseas Business Strategy‐4 Select the suitable brands for overseas expansion

Tempura is also popular overseas and well-accepted by foreigners as a quick and easy Japanese food

To select a suitable location for overseas expansion of Musubiya Using some favourite ingredients among foreigners inside the Musubi (rice ball) eg spam

Variation on Tonkatsu (Deep-fried pork cutlet) and menu development to cater to foreignersrsquo preferences

Ebinoya in Bakuromachi Katsuma in Tenjinbashisuji 4th Avenue





1

2

5

4

3





４

4

Improvement for Hara Donut The Don and Sabaroku Seimensho 1

Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce


23 26 and 23 outlets respectively 72 existing outlets of which half is directly managed and the other half is franchised 2 new outlets are expected to open in 2019 To refine the menu and location strategy to cater to consumer trends

Seeking MampA of New Brands amp Opportunities for Capital amp Business Alliance

2 Grouping the Business of Rose Garden

To reform Rose Garden a booming restaurant in Okinawa while operating To capitalize on the know-how for store development

To ensure continuous growth to become a brand for the masses that can operate multiple stores

To access the new market efficiently to speed up growth To capitalize on our know-how for store development from our existing businesses

To franchise SAMrsquoS a thriving steak house with a 50 year history in Okinawa To refine the existing manual and system To capitalize on the know-how for store development To consider overseas expansion

3 Grouping the business of SAMrsquoS

MampACapital amp Business Alliance


Ownership of Sabaroku Seimensho Co Ltd acquired in July 2018 Ramen noodle flavor augmented by dried smoked mackerel shavings

４ MampACapital amp Business Alliance‐1


Sabaroku Seimesho

Shredded dried-mackerel Sabaroku Seimensho in Settsu-Tonda Mae

Mackerel sushi amp Mackerel Soy-sauce Soba noodle


Ownership of Rose Garden and American Kitchen acquired in Dec 2018 Both located in Okinawa well known for American style breakfast and dinner

４


Rose Garden amp American Kitchen MampACapital amp Business Alliance‐2

Rose Garden in Okinawa


Ownership of Great Eastern Co Ltd which operates SAMrsquoS is forecasted to be acquired in April 2019 Dishes are cooked in front of customers A well known steak house among tourists for superb cooking performance



SAMrsquoS

SAMS Anchor Inn Ginowan





1

2

3

4 Strategy for MampA Capital amp Business Alliance

５




To expand the employment of persons with disabilities 16 disabled individuals are planned to be employed in 2019

To provide tomato berry baby spinach leaf lettuce etc to our existing outlets

To start the culture of wine grape and cucumber in Spring

To promote the regional agricultural and economic development through agricultural welfare collaboration

To offer safe and reliable ingredients to our customers through in-house production


Special subsidiary company means a company that has special accommodations for persons with disabilities The employment rate of persons with disabilities is calculated in the parent companyrsquos employment rate

５ Fujio Farm Co Ltd Approval of Special Subsidiary Company acquired



５ Fujio Child Co Ltd

School event in Halloween School event in Setsubun School meals are cooked with the seasonal vegetables grown by the students

We also let them peel the vegetables to make them enjoy the progressionion

Fujio Child Co Ltd was established in June 2016

Fujio Himawari day care center opened afterwards to support and ensure the working mother can balance work and family

The concept of our day care is to raise independent minded sensitive and caring children

Three day care centers exist

As a day care center operated by our subsidiary company a lot of effort is put in the school meal Food safety is prioritized through the prevention of food allergy

Students are able to view the cooking process through a window to increase anticipation


No of outlets by Directly-managedFranchised and brand

Total 893 outlets as of the end of 2018

Honolulu Coffee (21 outlets) Hara Donut (23 outlets) The Don (26 outlets) Sabaroku Seimenjo (23 outlets) are included

Directly-managed Franchised Total JV outlets overseas are included JV outlets overseas are included

Maidoookini Shokudo 149 274 423

Kushiya Monogatari 91 26 117

Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893


No of outlets by brands (as of FY2018)

Other Brand

Maidoookini Shokudo Kushiya Monogatari Tsurumaru Kappogi Sachifukuya

423 outlets 117 outlets 60 outlets 44 outlets 27 outlets

Ebinoya Delices Fujioken Uchino Shokudo Katsuma


The Don Sabaroku Seimenjo Hara Donut Honolulu Coffee Others



Distribution map of domestic outlets （as of FY2018)


Market section transition to the 1st Sec of TSE

Fujio Food System Co Ltd (ldquoFujiordquo) is pleased to announce that the market division

has transitioned from Tokyo Stock Exchangersquos JASDAQ Standard to the 1st Section

from 30th January 2019 Meanwhile Fujio is delighted to celebrate the 40th

anniversary of the establishment of Fujio

Thank you to all stakeholders for your support

Since the companyrsquos foundation our ultimate goal of ldquobeing the top restaurant company for the

masses in Japanrdquo has served as a basic outline for our business strategy We cater to our

stakeholders by striving for consistent growth in business and through our contributions to

society

Your continued support is highly appreciated

Fujio Food System Co Ltd

(A brand new start)


Photo Maruten Shokudo (Photo was taken in 1955 the model of Maidoookini Shokudo which was operated by Mr Masahiro Fujiorsquos Family)

The purpose of this presentation is to share the financial results and the information related to business strategy of Fujio Food System Co Ltd

The information contained here is not meant to be a solicitation to purchase our shares The opinions forecasts etc are based on the information when creating this

presentation We do not promise nor guarantee the accuracy and security of such information provided here Moreover changes may happen without any notice


Content

FY2019

Business Strategy

FY2018

Financial results summary







Sales 35938 1000 36145 1000 207 06



Cost of sales 12793 356 12724 352 -68 -05

Gross profit 23145 644 23420 648 275 12

SGA costs 20540 572 21161 585 621 30


Ordinary profit 2513 70 2189 61 -324 -129





1403 39 911 25 -491 -350

EBITDA 4065 113 3607 100 -458 -113

Sales uarr06





Cost of sales ratio

SGA cost ratio

Other cost ratio

Rent ratio


Impairment loss



darr04

uarr 13

uarr 05

uarr 01

darr 005

yen241 m

yen 56 m

yen 349 m





uarr 01









14568 16121 17355 17561 17517

30486 33324

34900 35938 36145

FY2014 FY2015 FY2016 FY2017 FY2018


1364 1105

1365 1167 1177

2716

2363 2410 2605

2259

FY2014 FY2015 FY2016 FY2017 FY2018


1322 1080

1324 1140 1163

2669

2273 2323 2513

2189

FY2014 FY2015 FY2016 FY2017 FY2018


744 626

739 629 596

1405

1079 1083

1403

911

FY2014 FY2015 FY2016 FY2017 FY2018





Sales


（in m JPY）


EBITDA

（in m JPY）

7206 7362 7920 7998 8059 8062

8599 8604 8668 8687 8897 8648 8799 8762 9226 9151 8917 8600 9191 9436

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

779

585 678 674

791

314

607 651 790

575 588 457

627 540

715 723 674

503 543 539

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

1036 928 962

1042 1120

709

1037 1106 1173 991 1012

881 979

893

1094 1099 989

829 886 903

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018



uarr2605

uarr2259


uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000



Sales （Franchised

outlets）


Amortization


cost



(in m JPY)



（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)












Sales 35938 1000 36145 1000 207 06



Cost of sales 12793 356 12724 352 -68 -05

Gross profit 23145 644 23420 648 275 12

SGA costs 20540 572 21161 585 621 30


Ordinary profit 2513 70 2189 61 -324 -129





1403 39 911 25 -491 -350

EBITDA 4065 113 3607 100 -458 -113

Sales uarr06





Cost of sales ratio

SGA cost ratio

Other cost ratio

Rent ratio


Impairment loss



darr04

uarr 13

uarr 05

uarr 01

darr 005

yen241 m

yen 56 m

yen 349 m





uarr 01









14568 16121 17355 17561 17517

30486 33324

34900 35938 36145

FY2014 FY2015 FY2016 FY2017 FY2018


1364 1105

1365 1167 1177

2716

2363 2410 2605

2259

FY2014 FY2015 FY2016 FY2017 FY2018


1322 1080

1324 1140 1163

2669

2273 2323 2513

2189

FY2014 FY2015 FY2016 FY2017 FY2018


744 626

739 629 596

1405

1079 1083

1403

911

FY2014 FY2015 FY2016 FY2017 FY2018





Sales


（in m JPY）


EBITDA

（in m JPY）

7206 7362 7920 7998 8059 8062

8599 8604 8668 8687 8897 8648 8799 8762 9226 9151 8917 8600 9191 9436

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

779

585 678 674

791

314

607 651 790

575 588 457

627 540

715 723 674

503 543 539

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

1036 928 962

1042 1120

709

1037 1106 1173 991 1012

881 979

893

1094 1099 989

829 886 903

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018



uarr2605

uarr2259


uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000



Sales （Franchised

outlets）


Amortization


cost



(in m JPY)



（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)













14568 16121 17355 17561 17517

30486 33324

34900 35938 36145

FY2014 FY2015 FY2016 FY2017 FY2018


1364 1105

1365 1167 1177

2716

2363 2410 2605

2259

FY2014 FY2015 FY2016 FY2017 FY2018


1322 1080

1324 1140 1163

2669

2273 2323 2513

2189

FY2014 FY2015 FY2016 FY2017 FY2018


744 626

739 629 596

1405

1079 1083

1403

911

FY2014 FY2015 FY2016 FY2017 FY2018





Sales


（in m JPY）


EBITDA

（in m JPY）

7206 7362 7920 7998 8059 8062

8599 8604 8668 8687 8897 8648 8799 8762 9226 9151 8917 8600 9191 9436

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

779

585 678 674

791

314

607 651 790

575 588 457

627 540

715 723 674

503 543 539

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

1036 928 962

1042 1120

709

1037 1106 1173 991 1012

881 979

893

1094 1099 989

829 886 903

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018



uarr2605

uarr2259


uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000



Sales （Franchised

outlets）


Amortization


cost



(in m JPY)



（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









Sales


（in m JPY）


EBITDA

（in m JPY）

7206 7362 7920 7998 8059 8062

8599 8604 8668 8687 8897 8648 8799 8762 9226 9151 8917 8600 9191 9436

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

779

585 678 674

791

314

607 651 790

575 588 457

627 540

715 723 674

503 543 539

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018

1036 928 962

1042 1120

709

1037 1106 1173 991 1012

881 979

893

1094 1099 989

829 886 903

1Q 2Q 3Q 4Q

2014

2015

2016

2017

2018



uarr2605

uarr2259


uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000



Sales （Franchised

outlets）


Amortization


cost



(in m JPY)



（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








uarr2605

uarr2259


uarr108 uarr17

darr233 darr53

darr214

darr122 darr39

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000



Sales （Franchised

outlets）


Amortization


cost



(in m JPY)



（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








（in m JYP）



rate

Sales 36100 1000 36145 1000 45 1001


Ordinary profit

2360 65 2189 61 -171 927

Net income

1270 35 911 25 -359 717



(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)







(in m JPY)

FY2017 full-year

FY2018 full-year

YOY FY2018



No of new outlet

opening

No of outlets


9775 287 9325 272 -450 -46 8 139

Kushiya Monogatari

11373 334 10614 310 -759 -67 4 88

Kappogi 2281 67 2349 69 68 30 2 36

Tsurumaru 2071 61 2094 61 23 11 11 51

Sachifukuya⁽sup2⁾ 1989 58 2409 70 420 211 6 23

Ebinoya⁽sup2⁾ 1135 33 1658 48 523 460 9 33

Others 5444 160 5826 170 382 70 15 140

Total 34071 1000 34275 1000 204 06 55 510











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)











1015 962 978 959 948 937 911 977 993 967 980 977



800

850

900

950

1000

1050

1100







2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)










2018 2018


Forecast Actual






Ebinoya 5 9






Others 18 25



Franchised outlets

20 10


Total 60 65




Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









Country City

FY2017 FY2018 FY2018 FY2018 FY2018

Note No of outlet


No of outlet






Others 1 5 0 1 0

TOTAL 27 21 4 6 25



（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








（in m JPY）

FY2017 FY2018 YOY


Current assets 5299 246 4507 207 -791 -149


Others 2336 108 2503 115 167 71






Total assets 21575 1000 21759 1000 183 09




2240 104 2045 93 -194 -87


0 00 0 00 - -


Long-term loans 4609 214 4369 200 -240 -52

Others 1296 219 1369 62 73 56

Capital 2125 98 2135 98 10 04

Capital surplus 2007 93 2017 92 10 04

Net assets 9116 423 9465 434 348 38

Total assets 21575 1000 21759 1000 183 09

Indicators




yen6414 m

436m JPYdarr

Net debt

yen4493 m

yen 607 muarr YOY

Net assets



YOY

YOY

YOY




2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









2784 3445

4876

6117 6890 7202

9116 9465

218

242

308

339 343 339

422 434

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000


（in m JPY）

Net assets

Net assets rate



6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








6740 6652 6221

6872

8270 8672

6849 6414

24

19

13 11

12 12

08 07

00

05

10

15

20

25

30

0

2000

4000

6000

8000

10000















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)

















-1164 -2224 -1060




1300 2000 700


-2430 -2435 -5







Cash amp

Equivalents

at

beginning

of year

2684

Cash amp

Equivalents

at end of

year

1642

Operating

Cash Flow

2651

Investing

cash Flow

2876

Financing

Cash Flow

803


FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)







FY2019 Yearly plan





Net sales 36145 1000 40100 1000 3955 109


Ordinary income 2189 60 2420 60 211 105

Net income 911 25 1185 30 274 299


New outlet opening


Total 65 80 15









30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)













30486 33324 34900 35938 36145

40100

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2716

2363 2410 2605

2259 2500

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

2669

2273 2323 2513

2189

2420

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

1405

1079 1083

1403

911

1185

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

（Target）


（Target）




FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









FY2018 FY2019














Total 55 60


Total 65 80




CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









CountryCity

FY2018 FY2019 FY2019








TOTAL 25 12 37


Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)







Shareholder return

125 15 15

175 20

22

5527

7205

5508 5577

6718

4250

226 208

272

314

298

518

00

100

200

300

400

500

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017 2018



















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)






















3

4

5

2





Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









Strategy


Media strategy









2


















To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)























To provide coupons



















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)






















Sep ~ Nov Dec ~ Feb
























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)




























2






1

4

5

3





Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









Strategy


1







２

3






Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)











Stone oven pizza









3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)













3





1

2

4

5






1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)









1




3



2



４




























1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)
































1

2

5

4

3





４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)







４

4


Mamp

A

Cap

ital amp

Bu

sin

ess A

llia

nce















Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)










Sabaroku Seimesho





４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








４








SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)










SAMrsquoS






1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)










1

2

3


５






























Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)

































Kappogi 36 8 44

Tsurumaru 51 9 60

Sachifukuya 24 3 27

Ebinoya 33 4 37

Others 149 36 185

Total 533 360 893



Other Brand



















society



(A brand new start)








Other Brand



















society



(A brand new start)


















society



(A brand new start)






Fujio Food System Co., Ltd. 1 Sec. TSE（2752）

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Transcript of Fujio Food System Co., Ltd. 1 Sec. TSE（2752）