Kura Sushi (TSE: 2695) generated ¥189.68bn in sales for the nine months to July 2026, up 4.4% from a year earlier. Operating profit fell 45.2% to ¥2.85bn, ordinary profit dropped 37.7% to ¥3.47bn, and net profit attributable to shareholders fell 41.3% to ¥2.03bn. The company left its full-year guidance, issued on 10 December 2025, unchanged: sales of ¥257bn, operating profit of ¥5bn and net profit of ¥3bn.
| Segment | Sales | Sales change YoY | Ordinary profit/(loss) | Profit change YoY |
|---|---|---|---|---|
| Japan | ¥130.93bn | -1.2% | ¥3.39bn | -40.8% |
| North America | ¥37.20bn | +22.2% | -¥0.65bn | Loss widened from -¥0.60bn |
| Asia | ¥21.85bn | +15.1% | ¥0.79bn | +42.0% |
| Group total | ¥189.68bn | +4.4% | ¥3.47bn | -37.7% |
Japan, still roughly two-thirds of group sales, brought in ¥130.93bn, down 1.2%, while segment ordinary profit fell 40.8% to ¥3.39bn. Kura Sushi said rice prices show signs of peaking but remain elevated, and it kept a close eye on product design item by item to control its cost ratio. Management also cited soft consumer sentiment tied to falling real wages, even as inbound tourist demand lifted city-centre stores.
Kura Sushi USA grew sales 22.2% to ¥37.20bn on 12 new store openings, taking the US count to 91, helped by collaboration campaigns tied to popular entertainment franchises. Even so, the unit's ordinary loss widened to ¥645mn from ¥596mn a year earlier. The company said tariffs pushed up raw material costs there, without giving a specific tariff figure or attributing the full loss to that single cause.
Asia was the quiet outperformer. Sales at the Taiwan subsidiary known as KSA rose 15.1% to ¥21.85bn and ordinary profit jumped 42.0% to ¥792mn, aided by wider price tiers and seasonal collaboration campaigns. In July the group set up Kura Sushi (Thailand) Co., Ltd. to build a local business base for future stores, without disclosing an opening timetable.
Total assets rose to ¥169.04bn and the equity ratio slipped to 38.4% at the end of July 2026 from 40% at the prior fiscal year-end in October 2025, partly reflecting new lease liabilities as store expansion continues. The dividend forecast is unchanged at ¥15 per share following a 2-for-1 stock split effective 1 May 2026, equivalent to ¥30 on a pre-split basis. The filing does not say when North America's ordinary loss is expected to turn to profit; for now, the segment's expansion is outrunning its profitability.