The year of the transformation of the Yoshinoya Holdings Group for the coming era

Following the turmoil brought about by the global financial crisis, stock prices and other indicators suggest that economic recovery is taking hold. We must recognize, however, that the upturn may simply be a rebound following the sharp decline and lack staying power. In particular, there are currently no grounds for optimism about prospects for the Japanese economy. Deflationary pressure is expected to continue as personal incomes decline, personal consumption weakens, and prices fall. A challenging operating environment is likely to persist for the food service industry.
In these circumstances, in the year ended February 28, 2010, the Yoshinoya Holdings Group shifted its attention from "selection and concentration" to "concentration" while implementing measures to establish a new business model. Nevertheless, the Group's profitability greatly deteriorated owing to a decrease in same-store sales of the Yoshinoya business in Japan, the Group's mainstay business. We recognize this situation is the culmination of what we have done over the past several years. Therefore, we are analyzing the causes and are determined to act decisively in order to put the business on a sound footing as we prepare to meet new challenges in the years ahead.

Laying the foundation of a new business model

So far, Yoshinoya has extended the business model established following the bankruptcy 30 years ago. The time is ripe for Yoshinoya Holdings as well as Yoshinoya operations to establish a future-oriented business model. 2010 signals the start of our endeavors in this regard.
My first task is to restore the financial performance of the Group through a concerted effort centering on Yoshinoya. At the same time, we intend to lay the foundation for the next stage of our development. We are making sure you can count on the future of Yoshinoya Holdings Group.

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