McDonald Japan : Overview of Consolidated Financial Results for the Three Months Ended March 31, 2024
May 14, 2024 at 02:07 am EDT
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May 14, 2024
To whom it may concern,
McDonald's Holdings Company (Japan), Ltd. Representative Director, President and CEO Tamotsu Hiiro (Code No.: 2702 TSE Standard)
Inquiries: McDonald's Company (Japan), Ltd. Director, Chief Financial Officer Shuko Yoshida TEL: 03-6911-6000
Consolidated Financial Results for the Three Months Ended March 31, 2024
McDonald's Holdings Company (Japan), Ltd. hereby announces its consolidated financial results for the three months (January 1, 2024 to March 31, 2024) of the fiscal year ending December 31, 2024 (January 1, 2024 to December 31, 2024).
Increase in profit due to sales growth and improvement in raw material costs compared to the same period in the previous year
Strategies and business results are making progress as planned; we will continue to carry out the Medium-Term Management Plan and aim for steady growth
(In Millions of Yen)
The 1st Quarter 2024
2024
2023
vs. Last
vs. Last Year
Actual
Actual
Year
(%)
System-wide Sales*
204,105
188,211
+15,893
+8.4%
Revenue
101,369
92,059
+9,310
+10.1%
Consolidated Operating Income
11,257
8,378
+2,879
+34.4%
Consolidated Ordinary Income
11,568
8,660
+2,908
+33.6%
Net Income Attributable to Owners of
6,731
5,284
+1,447
+27.4%
Parent
*System-wide Sales: combined sales of company-operated and franchised restaurants
The 1st Quarter 2024
vs. Last Year
Same-store Sales
+7.0%
Same-store Guest Count
+3.2%
Same-store Average Check
+3.6%
In the 1st quarter of 2024, systemwide sales reached 204.1 billion yen, up 15.8 billion yen Year-on-Year, due to the investments in restaurants, people and IT based on the Medium-Term Management Plan, and marketing activities. In addition to the increase in sales, operating income increased 2.8 billion yen to 11.2 billion yen due to a relative easing of raw material costs in the 1st quarter, which had soared in the same period of the previous year.
Strategies and business results are making progress as planned. We will continue to ensure
thorough safety and security, the foundation of our business, and work to enhance customers' restaurant experience and satisfaction. In addition, we will strive to contribute to the local community, become a brand loved by everyone, and at the same time aim to achieve our full-year earnings forecast.
EOD
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McDonald's Holdings Company (Japan), Ltd. is a Japan-based holding company engaged in the operation of hamburger restaurants under the name McDonald's through its subsidiaries and affiliated companies. The Company is also engaged in the franchise business, as well as the provision of management know-how and sub-licenses to franchisees, among others.