Research from Mita Securities, Mita Securities

Mita Securities

Mita Securities provides a full scale diversified investment banking and financial services. A comprehensive investment banking department, specializes in rights offerings advisory, take-over bids agents, M&A etc. Including a proprietary trading desk, and wealth management department that offers brokerage, custody, real estate, and full proxy services.

Research from Mita Securities

Equity Bottom-Up

<ul><li>Same-store sales were 126.7% vs. March 2021 (112.8% for February), 70.2% vs. March 2020 (36.9% for February), and 58.9% vs. March 2019 (39.1% for February)</li><li>The number of stores at the end of March was 615 (unchanged MoM). The number of directly owned stores was 384 (unchanged MoM).</li><li>The company plans to open Torikizoku Hibiya Store in Yurakucho, Chiyoda-ku, Tokyo, on April 11.</li></ul>

Same-store sales were 126.7% vs. March 2021 (112.8% for February), 70.2% vs. March 2020 (36.9% for February), and 58.9% vs. March 2019 (39.1% for February)The number of stores at the end of March was 615 (unchanged MoM). The number of directly owned stores was 384 (unchanged MoM).The company plans to open Torikizoku Hibiya Store in Yurakucho, Chiyoda-ku, Tokyo, on April 11.

Torikizoku Holdings (3193): Healthy Performance in March Despite Difficult Environment