GIFT HOLDINGS INC.

Securities Code 9279

Results Briefing Materials for the Cumulative Third Quarter of
the Fiscal Year Ending October 31, 2024

The opinions and forecasts contained in these materials are the judgments of the Company at the time of preparation of thematerials and do not guarantee the accuracy of the information therein.
Actual performance and results may differ significantly due to changes in a variety of factors.

Table of Contents

01 Financial Highlights for the Cumulative Third Quarter of the Fiscal Year Ending October
31, 2024
02 Overview of Financial Results for the Cumulative Third Quarter of the Fiscal YearEnding October 31, 2024
03 Consolidated Earning Forecasts for the Fiscal Year Ending October 31, 2024
04 Medium-term Business Plan (Fiscal Year Ending October 31, 2024 to Fiscal YearEnding October 31, 2026)
05 Reference Materials: Company Overview

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

01 Financial Highlights for the Cumulative Third Quarterof the Fiscal Year Ending October 31, 2024

Financial Summary
Net sales

20,592Year-on-year:

Operating profit

million yen+23.8%

2,065
Year-on-year:

million yen+29.2%

Ordinary profit

2,120
Year-on-year:

million yen+28.4%

Overview of financial results
In the 3Q (3 months), although sales increased and profit decreased year on year due to
one-time expenses of 68 million yen from refurbishing and 89 million yen from new stores,
the foundation for future earnings was secured. In the 3Q (nine-month cumulative period), a
significant increase in sales and profit was achieved.
Quality enhancement

Monthly sales per company-owned store hit a record-high thanks to continuous
store QSCA enhancement. Refurbishing to improve product quality was also
implemented.

Implementation ofprice revisions

Implemented price revisions on July 1 in response to rising raw material prices
and other factors. No impact on customer traffic after the revision.

Strengthening
production systems

Aiming to strengthen production systems against growing demand by starting
operation at a new noodle factory at the beginning of this period.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

3

Financial Highlights for the Cumulative Third Quarter of the Fiscal
Year Ending October 31, 2024

Growth and Profitability

Net sales growth

YoY Change in Net Sales ofCompany-owned Stores

All company-owned stores in Japan

23.8%

124.5%

Operating profit margin

Existing company-owned stores in Japan(Annual goal: 20.0%)

10.0%(Annual goal: 9.5%)

Full business day

Excludes refurbished stores109.4%

111.5%(Annual goal: 105.0%)

Stores Opened in the Period

Man-hour Productivity

Company-owned stores

Net sales per man-hour

26 stores

6,329 yen(company-owned stores)(Annual goal: 41 stores)(Same period of the previous year:
6,133 yen)

Produced & franchise stores

Labor cost rate

28 stores

24.5%(Annual goal: net increase of 48 stores)

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

(Same period of the previous year:
24.7%)

Recruitment and Retention

Hiring employees

85

Newly hired
midcareer employees
Hired

48 new graduates

Number of
employees

650★★訳不要★★

peopleRetirement rate

16.1% 26.8

(Same period of theprevious year: 18.3%)％

Industry
average**Source: Summary of 2022 Employment Trends Survey Results (Ministry of Health, Labour and Welfare)4

Quarterly Trends in Net Sales and Operating Profit

Net sales (Unit: Millions of yen)

7,039

Operating profit (Unit: Millions of yen)

6,810

6,741

6,350

Operating profit margin
5,903
5,522
5,206
4,794
4,329
3,990 3,900

3,715
3,456

3,362
3,009

2,808

2,940

2,670

10.9% 2,492

11.8%

10.2%

10.2%

7.6%

8.1%
8.1%

9.4% 10.2%

11.8% 13.3%
8.8%

9.8%
9.8%

9.4%
7.4%

7.4%

5.2%
0.5%

7.8%

7.4%

1.8%

0.5%

305 -0.5%
12
1Q

-13
2Q

3Q

156

254

4Q

1Q

FYE Oct. 31, 2020

354

276

3Q
3Q

4Q

51

2Q

FYE Oct. 31, 2021

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

469

1Q

349

449

533

487

577

303

2Q

3Q

4Q

1Q

2Q

3Q
3Q

FYE Oct. 31, 2022

754

4Q

FYE Oct. 31, 2023

908
636

1Q

2Q

519

3Q
3Q

4Q

FYE Oct. 31, 20245

Analysis of Changes in Operating Profit (3Q, Quarterly Accounting
Period)Operating profit increased +17.3% year on year in 3Q (quarterly accounting period), excluding onetime expenses, due to strong performance of existing stores.

One-time expenses(New stores/refurbishing)

Before one-time expenses
117.3%

After one-time expenses
89.9%

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

6

Improving QSCA and Productivity Through Refurbishment
We are introducing heaters (IH) to stabilize product quality, and are currently refurbishing to a new layout
to improve productivity.
The investment effects from the refurbishing appeared immediately after the reopening of stores, leading
to an increase in net sales and number of customers.

• Maintaining consistent soup quality due to consistent warming
temperature from heaters (IH)

Effect ofrefurbishment• Improving productivity due to a new layout

Average annual
CO2 emissions
10% reduction• CO2 emissions were reduced by switching gas to IH.

Net sales and customer growth rate after refurbishing (%)(Compared to the average three months before refurbishing)
Sales after one year
114.8%

114.0%

115.0%

111.4%
109.0%

110.0%

107.0%

112.6%
111.4%

109.3%

106.1%

105.0%

106.1%

105.0%

107.0%

107.7%

107.3%

115.1%

Number of customers
after one year

109.6%

104.6%
100.7%

111.9%

107.6%

108.5%

108.1%

105.2%

104.0%

100.0%

1st month 2nd month 3rd month 4th month 5th month 6th month 7th month 8th month 9th month 10th month 11th month 12th month

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

7

Forecast of Investment Effect of Refurbishing
Impact of refurbishing is particularly significant in 3Q.
For the fiscal year ending October 31, 2024, we managed costs and secured the projected profit
figures, and investment effects are expected to appear from the next fiscal year onward.

Impact on operating profit

Total number of months closed due to refurbishing closures
1Q

2Q

3Q

4Q (forecast)

3Q non-consolidated-68 million yen

1.9 months

8.0 months

17.7 months

6.5 months

Full year (projection)-98 million yen

FYE Oct. 31, 2024

FYE Oct. 31, 2025
(Unit: Millions of yen)

No investment

With investment

Image of investment effectInvestment
effectUpfront
investment

28,50028,5003,000+α

Net sales

Selling,
Operatinggeneral andprofitadministrative
expenses, etc.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

Investment
effectSecured operating
profit in the fullyear consolidated
earning forecasts

3,000
Net sales

Selling,
general andOperatingadministrative
profitexpenses, etc.
due to factors such as
upfront investment
including refurbishing

Net sales

Operating profit

8

Impact of Price Revisions
Customer traffic is steady even after the price revision. There is still room to implement flexible pricerevisions.

Price revisions have notcaused customer numbers
to decline. Sales andcustomer numbers are both
steady.

Number of customers (year-on-year comparison)
Full business day
Excludes refurbished stores

111.4%
110.6%
110.3%

Price revision during thecurrent fiscal year

January 2024:
approximately 1%
July 2024:
approximately 5%

109.9%
108.7%

112.0%
110.1%
108.8%
108.6%

109.8%
109.8% 109.3%
109.7%
107.9%
107.7%
105.0%

105.7%
103.4%
103.1%
101.6%
99.7%

Aug.

Sep.

Oct.

FYE Oct. 31, 2023

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

101.3% 101.0%
100.0%
May

Jun.

Price
FYE Oct. 31, 2024
revision

Jul.

Price
revision

Source: Conditions for August 2023 to July 2024 in existing stores

Year-on-year % change (compared to 3Q of FYE Oct. 31, 2023)
Net sales (yen)105.6%
Excludesrefurbished stores 109.0%
Full business day

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

Number ofcustomers (persons)Average customer
spend (yen)100.7%
104.0%

104.8%
104.7%

Source: Conditions for May 2024 to July 2024 in company-owned existing stores

9

Existing Company-owned Domestic Stores: Average Net Sales per
Store
Hitting record-high average monthly sales per company-owned domestic store thanks toinitiatives to continuously improve store QSCA.
*Hit a record-high most recently in March 2024

■ Existing stores: Average net sales by month147%

Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct.

FYE Oct. 31, 2020

FYE Oct. 31, 2021

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

FYE Oct. 31, 2022

FYE Oct. 31, 2023

FYE Oct. 31, 2024

10

Progress of Human Resource Recruitment Measures
We have been actively recruiting human resources to achieve the medium-term business
plan.

Planned initiatives

Implemented✓ Recruitment website update✓ Promote cast to regular employees
ResultsFYE Oct. 31, 2024 3Q
cumulative total

16 people✓ Recruit overseas
PlannedApril 2025

10 people✓ Increased wage levels in January 2024

• Consider further increasing
wage levels• Create a human resources
development program foroverseas✓ Head office relocated in June 2024

• Implement diverse recruitment
methods▲ Promoting cast to regular employees(President seminar)

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

11

JPX-Nikkei Mid and Small Cap Index
Selected as a component of the JPX-Nikkei Mid and Small Cap Index for FY2024 (August 30,
2024 to August 28, 2025)

Selected as acomponent of the
JPX-Nikkei Mid
and Small Cap
Index forFY2024

JPX-Nikkei Mid and Small Cap Index
The JPX-Nikkei Mid and Small Cap Index is a stock index consisting of 200
companies engaged in capital-efficient management with investors in mind,
applying the same concept as the JPX-Nikkei Index 400, which includes
companies that are highly attractive to investors.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

12

02 Overview of Financial Results for the Cumulative Third
Quarter of the Fiscal Year Ending October 31, 2024

Statements of Income
First nine months of FYEOct. 31, 2023

Percentage
to salesCompared to plan
First nine months of FYE Oct. 31, 2024

Percentage
to salesYear-on-year% change(Unit: Millions of yen)AmountNet sales

16,632-

20,592-+23.8%

28,50072.3%

Cost of sales

5,370

32.3%

6,651

32.3%

+23.9%--

Gross profit

11,261

67.7%

13,94067.7%+23.8%--

Selling, generaland administrative
expenses

9,662

58.1%

11,87557.7%+22.9%--

Operatingprofit

1,598

9.6%

2,065

10.0%

+29.2%

3,000

68.8%

Ordinary profit

1,652

9.9%

2,120

10.3%

+28.4%

3,060

69.3%

1,129

6.8%

1,385

6.7%

+22.6%

1,960

70.7%

Quarterly
profit attributableto owners of parent

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

AmountFull-year
plan after
upwardrevision

Progress

14

Progress Rate vs. Full-year Plan
We are making steady progress toward our plan, despite store refurbishing expenses.

Upwardly revised plan
(plan before revision)

売上高

72.3%

28,500 million yen

74.6%(27,600 million yen)

営業利益
Operatingprofit
営業利益

68.8%

3,000 million yen

経常利益
Ordinary
profit
経常利益

69.3%

当期純利益

70.7%

Net sales
売上高

76.5%

3,060 million yen

77.4%

Profit
当期純利益

0.0%(2,700 million yen)

(2,740 million yen)

1,960 million yen

79.2%

25.0%

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

50.0%

75.0%

(1,750 million yen)

100.0%
15

Open up Stores+52+

Overall
stores52 stores compared to797

the end of the previous fiscal year745

Franchise storesFranchise stores

As of Oct. 31, 2023

ProducedstoresFranchise
storesOutsourced
stores

538 stores
10 stores
9 stores

Company- 188 stores
owned stores
Total number 745 storesof stores

As of Jul. 31, 2024

558
18

9
212

stores
Produced stores
Produced storesstores

Produced stores

558

538

511
storesOutsourced
storesstores10

stores161
As of Oct. 31,
2022

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

10

682

Companyowned
stores797

18Outsourced
stores9Companyowned
storesOutsourced
stores9Companyowned
stores188

212

As of Oct. 31,
2023

As of Jul. 31,
2024

16

Status of Stores (Breakdown of Change)
Number of stores asof October 31, 2023

Number of stores asof July 31, 2024

Kanto

119

138

＋19

East Japan(other than Kanto)

45

50

+5

West Japan

21

21

-

Overseas33-

Subtotal

188

212

＋24

Outsourced stores

9

9

-

Total

197

221

＋24

Kanto

309

314

+5

East Japan(other than Kanto)

117

119

+2

West Japan

99

111

＋12

Overseas

13

14

+1

Subtotal

538

558

+20

Franchise stores in Japan

7

10

+3

Franchise stores overseas

3

8

+5

Total

548

576

＋28

Total number of stores

745

797

＋52

Change(Number of stores)

Company-owned stores

Net sales 17,282

million yen

Produced stores

Net sales

3,309
million yen

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

17

Status of Stores (Company-owned Stores + Franchise Stores /Breakdown of Change by Brand)*The number of franchise stores has been added to the number of stores from the third quarter of the fiscal year ending
October 31, 2024.

Brand

Number ofstores as ofJuly 31, 2024

144

37

15

6

4

Change compared
to end of theprevious fiscal year

+13

+4

+5

-

-

Overseas

Overseas

Other

Brand

Number ofstores as ofJuly 31, 2024

2

1

3

8

10

Change compared
to end of theprevious fiscal year

-

-

-

+5

+5

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

18

Quarterly Net Sales in Company-owned Store Business and Produced
Store Business
The sales ratio of the company-owned store business is increasing.

7,039
6,810 6,741■ Company-owned store business net sales■ Produced store business net sales
Company-owned store business sales ratio

6,350
5,903

(Unit: Millions of yen)

5,522
5,206
4,794
4,329

3,715
3,456

3,362

3,009

2,808
2,492

3,990 3,900

2,940

2,670
84.9% 84.8%

82.6%

82.3%

82.3%
81.0%

83.0% 83.4%

83.6%

82.8%

83.6% 84.0% 83.7% 83.9% 83.8%

84.1%

80.3%

79.8%
78.0%

1Q

2Q

3Q

FYE Oct. 31, 2020

4Q

1Q

2Q

3Q

FYE Oct. 31, 2021

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

4Q

1Q

2Q

3Q

FYE Oct. 31, 2022

4Q

1Q

2Q

3Q

FYE Oct. 31, 2023

4Q

1Q

2Q

3Q

4Q

FYE Oct. 31, 2024

19

B/S Summary(Unit: Millions of yen)

Current assets

Cash and deposits

As of Oct.
31, 2023

As of Jul.
31, 2024

Change

3,552

4,168

+616

2,220

Accounts
receivable - trade

547

Other

784

Non-current assets

Property, plant andequipment
Intangible assets

Investments andother assets

Total assets

8,974

6,007

271

2,696

12,527

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

2,397

656

1,114

11,414

8,295

245

2,874

15,583

+177

+109

＋329

As of Jul.
31, 2024

Change(Unit: Millions of yen)

As of Oct.
31, 2023

Current liabilities

3,777

5,469

+1,691

Accounts payable trade

697

838

+140

Short-term borrowings

25

1,083

＋1,058Current portion of longterm borrowings

699

875

＋175

Other

2,354

2,671

+316

1,977

2,196

＋218

Long-term borrowings

1,574

1,690

＋115

Other

402

506

+103

Total liabilities

5,755

7,665

+1,910Total net assets

6,772

7,917

＋1,145

Share capital

797

824

+27

Capital surplus

1,049

1,052

+3

Retained earnings

4,761

5,788

＋1,026

Treasury shares

(0)

(1)

(0)

Accumulated othercomprehensive income

160

248

＋88

Non-controlling interests

4

5

+0

12,527

15,583＋3,056

Non-current liabilities＋2,439＋2,287(25)＋177＋3,056

Total liabilities and net
assets20

Stock Price Trends (from listing to July 31, 2024)
The stock price has risen by approximately 5 times since listing.
Stock price(Yen)
July 31, 2024

4,000
December 2, 2021
Earnings upwardly revised
April 15, 2022
Expansion of shareholder
benefit system

July 28, 2023
Stock split: 1 share to
2 shares

Closing price:
2,547 yen

June 1, 2022
Earnings downwardly revised

3,200
February 17, 2020
Decrease in dividend forecast
Expansion of shareholder benefit
systemMarch 27, 2019
Shareholder benefits
system decided

2,400

(4)
(5)
(8)

(19)
(18)

(21)

(17)

(12)

(13)
(14)

(10)

(2)

(23)

(20)

(16)
(11)

800
(1)

October 14, 2021
Increase in dividend forecast

September 18, 2020
Changed market toFirst Section of Tokyo
Stock Exchange

Listed on October 19, 2018
Public offering price: 523
yen (After adjustment forthe stock split)(3)

October 17, 2022
Increase individend forecast

June 5, 2020
Earnings downwardly revised
Decrease in dividend forecast

October 16, 2019
Increase individend forecast

1,600

September 8, 2021
Earnings downwardly revised

March 17, 2020
Stock split: 1 share to 2 shares

June 11, 2019
Earnings upwardly
revised(22)

July 14, 2022
Expansion of shareholder benefit system

(15)

(9)

(7)
(6)

Announcement of financial results0(1)
December 14, 2018
Year-end Increase in dividend forecast
New shareholder benefit
system(2) 1Q

March 14, 2019(5)
December 13, 2019Year-end(9)
December 15, 2020
Year-end(13)
December 15, 2021
Year-end(17)
December 15, 2022
Year-end(21)
December 15, 2023
Year-end Increase in dividend(6) 1Q(10) 1Q(14) 1Q(18) 1Q

March 15, 2023

(22) 1Q March 15, 2024

(19) 2Q

June 14, 2023
(23) 2Q June 14, 2024
Expansion of shareholder
Earnings upwardly
benefit systemrevised
September 14, 2023

March 16, 2020

March 12, 2021

March 14, 2022

Increase in dividend forecast(7) 2Q

June 12, 2020(11) 2Q

June 14, 2021

(15) 2Q

June 14, 2022

(3) 2Q

June 14, 2019(8) 3Q

September 14, 2020(12) 3Q

September 14, 2021

(16) 3Q

September 14, 2022

(4) 3Q

September 13, 2019

FYE Oct. 31, 2019(20) 3QFYE Oct. 31, 2020

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

FYE Oct. 31, 2021

FYE Oct. 31, 2022

FYE Oct. 31, 2023

January 2023

FYE Oct. 31, 2024

21

03 Consolidated Earning Forecasts for the Fiscal YearEnding October 31, 2024 (unchanged from 2Q)

Upward Revision of the Full-year Consolidated Earning Forecasts
Since we have made steady progress with the full-year plan, the forecast had
been revised to take into account our current performance on June 14th.

FYE Oct. 31,
2023

FYE Oct. 31,
2024 previous
forecast（A)FYE Oct. 31,
2024 revised
forecast（B)

Net sales

22,982

27,60028,500

+3.3%

+900

Operating profit

2,352

2,700

3,000

+11.1%

30.0

Ordinary profit

2,424

2,740

3,060

+11.7%+320

Profit attributable to

1,597

1,750

1,960

+12.0%+210

owners of parent

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

Change (%)(B)/(A)

Change(B)-(A)

23

Assumptions Behind Forecasts for the Fiscal Year Ending October 31,
2024

Sales of company-owned domestic stores and existing storesvs. FYE Oct. 31, 2023:

105.0

%

Store opening plan
Company-owned stores40
1stores in Japanoverseas store

Net increase of 39 stores

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

Franchise & produced stores

40
8stores in Japan

stores overseas

Net increase of 48 stores

24

Store Opening Plan

Number of stores

832

Franchise & produced stores
Outsourced stores

745

Company-owned stores

Number of stores as ofOct. 31, 2024 (plan)

682
618

532
596

462
548

415

832

stores

511
468
410

Plan for +87 stores year on year

367
9

351

8

10

6
6

58

89

114

140

2018

10

161

9

188

227

Company-owned stores+39 stores

Produced & franchise stores +48 stores

2024(Plan)

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

25

04 Medium-term Business Plan
(unchanged from 2Q)

Basic Strategy - Aspirations and Approach

Targets to be achieved in FYE October 31, 2026

Net sales

40.0billion yen

Operating profit

3.8

billion yen

Expansion of business and strengthening of structure

Promotion of digital transformation (DX)
Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

27

KPIs
Operating profit is expected to grow due to increased ratio of company-owned stores.
Profit margin target was reduced by 0.5 pt from the previous target.
ROA and ROE targets were each raised by 5.0 pt.

Growth

1. Net sales growth

20% or above

Profitability

2. Operating profit margin

9.5% or above

3. ROA (ordinary profit tototal assets)

20% or above

4. ROE (net profit toshareholders' equity)

20% or above

5. Dividend payout ratio

20% or above

Gain on investments

Returns toshareholders

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

28

Relationship Between Store Opening Strategy and Sales, Profit andProfit Margin (Only October 2024 Period Had Changed)
By opening company-owned stores in areas with concentrated population that have large
markets, and opening produced stores in regional areas, we aim to maximize net sales
and profit and also maintain profit margin.
Percentage of stores (company-owned storesand produced stores), sales ratio, and theamount of profit and profit margin

Company-owned stores■ Number of company-owned stores

Store openings in population■ Number of produced stores
Operating profit

concentration areas and areas withhigh ramen consumption

Operating profit margin
Sales ratio
1100

1.57
billion yen

Strengthening store openings

2.35
billion yen

3.00
billion yen

30

20

84.2%

Aim to maximize net sales

0

83.6%
83.1%

-10

550

16.9%

Franchise & produced stores

16.4%

16.0%

10.2%

10.5%

15.8%
-20

-30

9.2%

Open stores in regional areas

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

10

84.0%

and profit

Aim to maximize profit margin

3.20
billion yen

9.6%

Maintaining operating
profit margin
0

-40

-50

-60

FYE Oct. 31,
2022
ResultsFYE Oct. 31,
2023
ResultsFYE Oct. 31,
2024
Plan

FYE Oct. 31,
2025
Plan

29

Medium-term Business Plan (FYE October 31, 2024 to FYE October 31,2026) / Quantitative Plan (Only 2024 Had Changed)
Created a new three-year plan using the rolling method.

Net sales
Operating profit
Ordinary profit
Japan

Total number of stores

2022

2023

2024

2025

2026

17.0

22.9

28.5

33.2

40.0

(billion yen)(billion yen)(billion yen)(billion yen)(billion yen)

1.57

2.35

3.00

3.20

3.80

(billion yen)(billion yen)(billion yen)(billion yen)(billion yen)

2.44

2.42

3.06

3.25

3.86

(billion yen)(billion yen)(billion yen)(billion yen)(billion yen)

665 stores 726 stores 805 stores 903 stores 1,000 stores

Overseas
Total

Franchise & produced stores

169 stores
496 stores

194 stores
532 stores

233 stores
572 stores

284 stores
619 stores

332 stores
668 stores

Total number of stores

17 stores

19 stores

27 stores

40 stores

57 stores

Company-owned stores

2 stores3 stores

Franchise & produced stores

15 stores

16 stores

3 stores24 stores

7 stores33 stores

14 stores
43 stores

682 stores 745 stores 832 stores 943 stores

1,057

Company-owned stores

Total number of storesCompany-owned storesFranchise & produced stores

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

171 stores
511 stores

197 stores
548 stores

236 stores
596 stores

291 stores
652 storesstores

346 stores
711 stores
30

Variance Against the Previously Announced Medium-term Business
Plan (Only 2024 Had Changed)
Consolidated Earning Forecasts for the Fiscal Year Ending October 31, 2024, had been revised due to strong
performance of existing stores, etc. on June 14th.
Targets of 30.0 billion yen in net sales, 3.0 billion yen in operating profit to be achieved ahead of schedule(billion yen)

Net sales(billion yen)

Operating profit

FYE Oct. 31, 2024 to FYE Oct. 31, 2026

FYE Oct. 31, 2024 to FYE Oct. 31, 2026

[New announcement][New announcement]

40.0

3.80
3.20

33.2
27.6

2.35

22.9

2023

2024

2025

2023

2026

3.00

2024

2026

Upwardly revised

Upwardly revised
FYE Oct. 31, 2023 to FYE Oct. 31, 2025

FYE Oct. 31, 2023 to FYE Oct. 31, 2025

[Last year's announcement][Last year's announcement]

30.0

3.0
2.5

25.0

2.05

20.5
17.0

2022

2025

1.57

2023

2024

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

2025

2022

2023

2024

2025

31

Medium-term Business Plan
Key themes
Expansion of existing business

Recruitment

PICK UP

Overview of initiatives(1) Quality enhancement at each store(2) Flexible response to inflation◎ (3) Strengthening recruitment capability◎ (4) Measures to reduce turnover◎ (5) Improvement of education system◎ (6) Reexamination of store operation system

Strengthening of ability to open stores(7) Advancement of opening business development stores(8) Aggressive M&A and development of new brand◎ (9) Review of product competition rules

Overseas expansion(10) Establishing an overseas promotion system◎ (11) Recruitment and training of overseas human resources◎ (12) Establishment of ingredient supply system

Strengthening of
manufacturingsystemPICK UP(13) Reduction of manufacturing costs(14) Enhancement of manufacturing quality(15) Expansion of items produced(16) Creation of stable supply systems (by area)

Strengthening of purchasing and logistics
systems(17) Optimization of logistics costs(18) Stockout risk control(19) Improvement of distribution frequency and distribution quality, bulk distribution to stores(20) Improved quality and reduced costs of ingredients by scaling up purchasingDX(21) Improvement of customer convenience(22) Reduction of internal man hours and development of a secure work environment(23) Stronger data integration

Sustainability

PICK UP◎ (24) Establishing the Sustainability Committee◎ indicates items changed since the previous announcement.
Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

32

Medium-term Business Plan Details
PICK UP

Recruitment

Initiatives to secure human resources

Strengthening recruitment capability(1) Recruitment website update✓ Curated and direct messaging✓ New direct application page

Enhancement of employee satisfaction(3) Head office relocation

Head office relocation to near Shibuya Station
Creating a good working environment(2) Diversification of recruitment methods✓ Conversions (recruiting cast as regular employees)✓ Alumni recruitment (re-employment of alumni)

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

(4) Improvement of employee treatment✓ Increasing wage levels✓ Improvement of the working environment(overtime, store environment)

33

Medium-term Business Plan Details
PICK UP

Strengthening of
manufacturingsystemEstablishment of manufacturing system toaccommodate increased number of stores

Stable supply systems
Noodles

Soup

Roast pork

NEW

Hiratsuka

Yokohama
Tamba- Yokohama
Kamisu
1st
2nd
Sasayama

Ayase• Reduction ofKamisumanufacturing costs Factory (noodle• Enhancement of
manufacturing)
manufacturing quality began operationin November• Securing supply
2023.
capacity

Expansion of items produced• Maintaining quality through inhouse manufacturing• Reducing cost through inhouse manufacturing
Noodles

Soup

Roast pork

Securing manufacturing capacity and expanding of
manufacturing items, building and strengthening a system
to accommodate aggressive store openings
Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

34

Medium-term Business Plan Details

Sustainability

PICK UP

Launch of the Sustainability Committee

SOCIAL

EmissionsTargetCurrent value (*1)

1.114 t-CO2

1

Reduction of % ormore every year

Strengthening of corporate governance• Creation of risk management system• Ensuring compliance•

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

ERNANCEOVGOVERNANCE

S

G

Measures to address global
warming• Effective utilization of energy andresources• Utilization of environmentallyfriendly products• Waste and recycling
•

T
N
E

L
CIA
O

ENVIRONMENTENVIRON
M*Previous year: 1.123 t-CO2*1 April 2022 to March 2023
per hour of business hours

Planning and development of
products with high added value• Consumer peace of mind and safety• Fair marketing and advertising• Protection of personal information• Compliance with fair trade andinternal dissemination• Supply chain management• Personnel and welfare• Promotion of employee health• Promotion of work-life balance• Business reform utilizing ICT, AI,
RPA, etc.
• Promotion of respect for humanrights and self-development of
human rights• Promotion of diversity and active
participation by women• Human resource development, hiringand retention• Strengthening of coordination withlocal government policies andimplementation of regional
revitalization activities• Company open to local communities• Next-generation support•

Strengthening information security andprotection of privacy• IR activities (constructive dialogue withinvestors)• Dynamic renewal of governance system•

35

IR website, IR news distribution service, and Machida Shotensite
IR news distribution service

IR website
Other investor relations (IR)materials are available on our
English IR website:

The IR news distribution service
delivers IR information e-mails to
those registered for the service:https://en.gift-group.co.jp/en/ir

https://www.magicalir.net/9279/mail/index_en.php

Machida Shoten
For details of our main brand
Machida shoten, please refer tothe following website:

https://us.machidashoten.com
Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

36

05 Reference Materials: Company Overview

Company overview

Company name

GIFT HOLDINGS INC.

Business details Restaurant operation
Head officeaddress

36F Shibuya Tower, Shibuya Sakura Stage, 1-1
Sakuragaoka-cho, Shibuya-ku, Tokyo, 1506236, Japan

Company
factories

Noodle factories: Hiratsuka, Yokohama 1st,
Kamisu, Tamba-Sasayama
Chasiu factory: Ayase
Soup factory: Yokohama 2nd

Established

December 7, 2009
(Founded in January 2008)

Representative

President & Representative Director: Sho
TagawaEnd of fiscal
year

October 31

Share capital

824 million yen (as of July 31, 2024)Group
employees

605 employees, 4,161 part-time and casual
workers (as of October 31, 2023)

Affiliates

Fourteenth consolidated subsidiaries(Names of major consolidated subsidiaries)
GIFT INC.
Ramen TENKA K.K.
GIFT FOODS MATERIAL K.K.
GIFT USA INC.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

38

Characteristics of Main Restaurant Industries and Ramen Market inJapan
As opposed to items such as burgers, gyudon (beef bowl), and curry, which are concentrated on major
companies, a large portion of the ramen market is taken up by individual stores, offering significant room for chain
stores to expand their share.
Markets where oligopolization has progressed

1st
2nd

Market with much room for expansion

4.1%
60.7%

40.9%

71.9%

Burgers

Gyudon(beef bowl)

Curry

Top 3

92.1%

88.4%

83.2%

Top 3

8.5%

Market
size

720.0

410.0

100.0

billion yen

billion yen

Marketsize

billion yen

600.0

3rd

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

Ramenbillion yen

Source: Calculated in-house based on Economic Conditions Survey of Ministry of Internal Affairs andCommunications and respective corporate websites

39Brand Expansion
The ramen market has a variety of flavor genres and is a different market type from other food service
markets.
We will increase market share in the ramen market by developing various types of brands.

Area A

Area B

Area C

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

40

Brand List (1/2)
Machida Shoten
IEKEI Ramen characterized by creamy soup that you nevertire of. A popular chain with over 100 stores nationwide
offering a lively and transcendent space.

BUTAYAMA
A "wild pork mountain ramen" characterized by thick and tender
pork and a plentiful helping of vegetables. The powerful soupcombined with the sweet soy sauce and chewy "washiwashi"
noodles provide a filling experience!

GANSO ABURADO"Soupless ramen" using carefully made custom noodles that canbe customized for your own original taste with tabletop
condiments. The stylish atmosphere of the stores is also popularwith women, and arrangements of flavor are limitless!

GATTON"Kyushu tonkotsu ramen" characterized by soup matured byhours of cooking. The specially ordered ultra-thin noodles
sought to match the rich and deeply flavored soup provide theultimate flavor.

SHI-TEN-NOH
Very popular with visitors from foreign countries.
"Pork bone broth ramen" characterized by its light richness.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

41

Brand List (2/2)
NAGAOKA SHOKUDO"Chinese soba" with ginger soy sauce that is popular as a local
ramen in Nagaoka City in Niigata. Popular with men and womenof all ages due to the deep flavor of the light soup using
carefully selected ingredients.

AKAMISOYA"Miso based ramen" with plenty of flavor of stir fried vegetables.

E.A.K RAMEN
Providing a flavor to match local needs based on "IEKEI
Ramen."

Machida Shoten
The ever-popular Machida Shoten can be tasted overseas
as well! Our carefully selected flavors and vibrancy are still
alive and well outside Japan.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

42

Business Details
Operation of restaurant business through the two channels of company-owned
stores and produced storesCompany-owned stores

Produced stores

221 stores

576 stores*Including outsourced stores*Including franchise stores

The Company operates stores under its
own brands centered on Yokohama IEKEI“M
S”
previous pages for other brands).

The Company provides support for making
stores owned and operated by partners
successful by leveraging operating expertise ofcompany-owned stores and supplying
ingredients (PB products).

Companyowned
storesProvision ofoperatingexpertiseCompany
factories
Contracted
factories

Supply of
PB products

Produced stores* PB products: Private brand products(Noodles, sauce, soup, dumplings, roast pork)

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

43

Store Opening Strategy
Possible to operate successful stores both near train stations and roadside areas

Areas near train stations

Roadside areas

Downtown
areas

Residential
areas

Business
districts

Ikebukuro Shoten

Tsunashima Shoten

Yotsuya Shoten

Shibuya Store

Kyodo Store

Roadside
Shimizu Interchange
Store

Nakamachidai
StoreKyoto-Higashi
Interchange Store

Himeji Store

Suidobashi StoreFujinomiya Store

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

44

Making Successful Stores in Any Location

Locations near train stations
Downtown areas/business districts

Roadside

Residential areas

Competitor C--

Competitor H--

Competitor M--

Competitor K--

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

45

Roadside Stores
Roadside stores are also popular with families.

• Parking area (20-30 vehicles)• Opening stores based on analysis of factors such as thestate of competition, population of the trade area andtraffic volume• Creation of stores that can be enjoyed by families• Improvement of menu for families• Maintaining trend of increasing customer spend• Roadside stores are more successful than stores neartrain stations.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

46

Produced Stores<The Company's original channel> Operating scheme of produced stores

The Company provides support for making stores owned and operated bypartners successful by leveraging operating expertise of company-owned
stores and supplying ingredients (PB products).
Produced storesCompanyowned stores

Provision of operating
expertise● Maintain high level of sales

for existing stores● Effectively zero store
closures since establishment

Company
factories
Contracted
factories

Supply of PB products
Noodles, sauce, soup,
dumplings, roast pork, etc.

* In contrast to a franchise system, no guarantee money, franchise membership fee or consulting fee (royalties) are
required. The production of stores at the time of their launch based on operating expertise of company-owned stores isprovided free of charge as a general rule on the condition of purchase of ingredients.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

47

Differences Between Produced Stores and Franchise StoresFranchise stores

Produced stores

Trade nameNot selectable

Freely selectable

Membership fee

1-5 million yen

0 yen

Royalties

Approx. 5% ofmonthly sales

0 yen

Freedom of store operation andmenu development

×

Risk of overall ripple effect ofdamage to brand by a member
store

Large

Small

Available

Available

Various support** Various support: Property development, store design, employee training, opening support

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

48

History
2008

Jan. Opened Machida Shoten main store.

2009

2013

Dec. Established Machida Shoten K.K. (now the Company). Started
operation of Company-owned Store Business Division.
Jan. Established Final Three Feet K.K. for the purpose of producing ramenbusiness, sale of PB products, manufacture of noodles, etc.
Started operation of Produced Store Business Division.
Nov. Established a noodle factory in Hiratsuka City, Kanagawa.

2014

Mar. Reached 10 company-owned domestic stores.

2015

Mar. Final Three Feet K.K. acquired all shares of SHI-TEN-NOH K.K. from
COLOWIDE CO., LTD. to make it a subsidiary.

2010

2016

2017

2018
2019

2020

Reached22 billion
sales

May Changed the trade name to GIFT INC.
Mar. Established subsidiaries in the United States (GIFT USA INC. / GIFTLOS ANGELES, LLC / GIFT NEW YORK, LLC).
Jul. Opened first company-owned overseas store (Singapore).
Dec. First store opened in the US (Los Angeles).
May Performed absorption-type merger of Final Three Feet K.K. for the
purpose of improving management efficiency and increasing the
speed of management decisions.
Aug. Performed absorption-type merger of SHI-TEN-NOH K.K. for the
purpose of improving management efficiency and increasing the
speed of management decisions.
Dec. Reached 50 company-owned domestic stores.
Oct. Listed shares on Tokyo Stock Exchange Mothers.

2022

Mar. Changed the trade name to GIFT HOLDINGS INC.

2023

Aug. Established Ayase Factory (roast pork factory) in Ayase City,
Kanagawa.
Nov. Established GIFT SOUTHEAST ASIA (THAILAND) CO., LTD in
Thailand.
Feb. Made Craft Co., Ltd. into a subsidiary.

companyowned
storesReached

11 billion
yen in net
sales

ReachedReached100

FYE Oct. 31, 2020

companyowned
stores40
companyowned
storesSep. Changed listing market to First Section of Tokyo Stock Exchange.
Reached 100 company-owned domestic stores.

2021

Reached190

Apr. Established Yokohama 1st Factory (noodle factory) in Yokohama City,
Kanagawa.
Aug. Acquired all shares of Ramen TENKA K.K. and K.I.K. Foods K.K.
(currently GIFT FOODS MATERIAL K.K.) to make them subsidiaries.
Jan. Established Yokohama 2nd Factory (roast pork factory, currently asoup factory) in Yokohama City, Kanagawa.

Oct. Established Tamba-Sasayama Factory (noodle factory) in TambaSasayama City, Hyogo.
Aug. Transition to holding company structure.

yen in net

FYE Oct. 31, 2023

FYE Oct. 31, 2017

ReachedReached20companyowned
stores1 billion
yen innet salesFYE Oct. 31, 2014

Nov. Established Kamisu Factory (noodle factory) in Kamisu City, Ibaraki.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

49

Disclaimer
Notice concerning forward-looking statements◼The materials and information provided in this announcement include so-called "forward-looking
statements." These are based on assumptions associated with current projections, forecasts andrisks and include uncertainty of causing results that substantially differ from these statements.
These risks and uncertainties include general domestic and international economic conditions suchas general industry and market conditions, interest rates and foreign exchange fluctuations.
◼The Company has no obligation to update or revise the "forward-looking statements" contained inthis announcement if new information arises or future events occur.
◼The Company may not necessarily revise announcements on forecasts that have already been
made regardless of the occurrence of future events except in cases required under disclosure rules.

◼Information on companies other than the Company is based on publicly available information.
◼This document is neither a solicitation for the application of acquisition of securities nor a solicitation
for the application of sale or application of purchase ("solicitation"), is not for solicitation and is not
the basis for any contract or obligation.

Copyright 2024 GIFT HOLDINGS INC. All Rights Reserved.

50