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 200.1% vs. January 2021 (155.0% for December), 56.2% vs. January 2020, and 60.4% vs. January 2019</li><li>Despite the expansion of the area requesting shorter hours during January, the company did relatively well, in our view, to secure a SSS of 60% vs. pre-pandemic period.</li><li><p>The number of stores at the end of December was 615 (unchanged MoM). The number of directly-owned stores was 384 (unchanged MoM).</p></li></ul>

Same-store sales were 200.1% vs. January 2021 (155.0% for December), 56.2% vs. January 2020, and 60.4% vs. January 2019Despite the expansion of the area requesting shorter hours during January, the company did relatively well, in our view, to secure a SSS of 60% vs. pre-pandemic period.The number of stores at the end of December was 615 (unchanged MoM). The number of directly-owned stores was 384 (unchanged MoM).

Torikizoku Holdings (3193): January Sales; Second Toriki Burger Store to Open in Shibuya