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 208.7% vs. April 2021 (126.7% for March), 1979.9% vs. April 2020 (70.2% for March), and 77.2% vs. April 2019 (58.9% for March)</li><li>The number of stores at the end of April was 616 (+1 MoM). The number of directly-owned stores was 385 (+1 MoM)</li><li>Effective April 28, all Torikizoku stores revised their menu prices from 327 yen (298 yen without tax) to 350 yen (319 yen without tax) for all items</li></ul>

Same-store sales were 208.7% vs. April 2021 (126.7% for March), 1979.9% vs. April 2020 (70.2% for March), and 77.2% vs. April 2019 (58.9% for March)The number of stores at the end of April was 616 (+1 MoM). The number of directly-owned stores was 385 (+1 MoM)Effective April 28, all Torikizoku stores revised their menu prices from 327 yen (298 yen without tax) to 350 yen (319 yen without tax) for all items

Torikizoku Holdings (3193): Sales Recovering in April Due to Easing of Operating Restrictions