2025年10月15日，日本速食品牌薩莉亞公佈其2025財年（截至2025年8月末）的年度財報，顯示公司整體業績保持增長態勢，但中國市場的表現出現微妙變化。財報顯示，薩莉亞在報告期內實現營業收入2567.14億日元，同比增長14.3%；淨利潤為111.64億日元，同比增長37%。這一成績標誌著薩莉亞連續第三年保持兩位數的整體增長，其中利潤增幅尤為顯著，顯示出公司在全球市場的盈利能力提升。

儘管整體業績向好，但財報也顯示，中國市場的增速已顯現放緩跡象。截至財報期末，薩莉亞在中國大陸、香港和臺灣的門店總數達到590家，其中包括北京78家、上海197家、廣州222家、香港69家、臺灣24家門店。財報指出，中國區四季度整體銷售額雖有小幅增長，但單店營業利潤出現下滑，反映出市場盈利壓力正在上升。分析認為，這一變化與近年來門店快速擴張帶來的成本壓力、消費需求仍處於恢復期以及供應鏈佈局尚未完全發揮作用有關。

過去幾年，薩莉亞憑藉高性價比的產品組合、穩定的毛利率以及品牌影響力，在中國市場取得快速增長，成為日本以外的重要“糧倉”。然而，隨著市場逐漸趨於成熟，短期內公司難以重現此前的高光時刻。尤其是在北京、上海和廣州三大城市法人公司中，雖然銷售額保持增長，但單店利潤下滑的趨勢表明，企業需要在成本控制、運營效率和供應鏈優化方面投入更多精力，以維持長期競爭力。

總體來看，中國市場仍是薩莉亞的重要戰略重心。除中國外，薩莉亞在日本、新加坡等地也佈局門店。截至2025年8月末，日本本土門店數量達到1053家，與海外市場形成互補。此次財報既顯示了薩莉亞全球業務的穩健增長，也揭示中國市場面臨的增收不增利的挑戰，為公司未來在華發展策略提供參考。

On October 15, 2025, Japanese fast-food brand Saizeriya released its financial report for the fiscal year 2025 (ending August 2025), revealing continued overall growth while highlighting subtle shifts in the Chinese market. The report showed that Saizeriya achieved ¥256.714 billion JPY (approximately RMB 12.1 billion) in revenue, up 14.3% year-on-year, and a net profit of ¥11.164 billion JPY (about RMB 530 million), a remarkable 37% increase compared to the previous year. This marks the third consecutive year of double-digit growth for the company, with profit growth outpacing revenue, reflecting strong global profitability.

However, the report also indicated a slowing growth trend in China, Saizeriya’s key overseas market. By the end of the fiscal year, the company operated 590 stores across Mainland China, Hong Kong, and Taiwan, including 78 in Beijing, 197 in Shanghai, 222 in Guangzhou, 69 in Hong Kong, and 24 in Taiwan. While total sales in the fourth quarter in China showed modest growth, same-store operating profits declined, signaling rising pressure on profitability. Analysts attribute this to rapid store expansion in previous years, ongoing recovery of consumer demand, short-term cost pressures, and the fact that supply chain optimizations have not yet fully taken effect.

In recent years, Saizeriya achieved rapid growth in China due to its high-value menu offerings, stable gross margins, and brand recognition, making the Chinese market an important revenue hub outside Japan. However, as the market matures, the company may struggle to replicate its past peak performance in the short term. Specifically, in the major city operations in Beijing, Shanghai, and Guangzhou, sales growth contrasts with declining single-store profits, indicating that further efforts in cost control, operational efficiency, and supply chain management will be crucial to sustain competitiveness.

Overall, China remains a strategic focus for Saizeriya. Outside China, the company also operates in Japan, Singapore, and other regions. As of August 2025, Japan had 1,053 stores, complementing the overseas footprint. The fiscal report highlights Saizeriya’s robust global performance while underscoring the revenue growth without profit gains challenge in China, providing guidance for its future strategy in the region.