Some investors, myself included, place strong value on same-store sales* as they offer a clear, unbiased measure of a company’s core performance and growth potential—independent of expansion efforts.

*Same-store sales

—also known as comparable-store sales or comps—is a financial metric used by retail companies to measure the revenue growth of stores that have been open for at least one year.

This metric compares the sales of these established stores during a specific period (like a quarter or year) to the same period in the previous year. It excludes sales from newly opened or recently closed stores to give a clearer picture of organic growth.

If you happen to be one of these investors, here’s something worth noting: a number of companies reported over +20% same-store sales for May 2025. The list which is available to my clients includes many small-cap names, primarily in the retail and restaurant sectors. Personally, I’m surprised by how consistently well ramen chains have performed. Also noteworthy are companies in the reuse and cloud service categories, which continue to show solid momentum.

If you are interested in the list, or any other insights into Japanese stock investing, please consider trying out my services for FREE.

Note: Regional Reporting Differences

Japanese companies typically present same-store sales as an index—for example, a figure of “120” indicates a 20% year-over-year increase. This format likely stems from reporting standards set by Japan’s Ministry of Economy, Trade and Industry (METI). In contrast, U.S. sources such as the Redbook Index usually report the year-over-year change directly, like “+20%.