IPO Profile: Diamond Dining Co.

Tokyo, Feb. 28 (Jiji Press)–Restaurant operator Diamond Dining Co. will make its debut on the Osaka Securities Exchange’s Hercules market for startups on March Tuesday.

The Tokyo-based company will use the proceeds from the initial public offering mainly to open new outlets.

Diamond Dining, established in 1996, started its restaurant business in 2001. As of the end of February, the company directly operated 35 outlets.

The company has been opening 10 or more new outlets a year since 2005. It plans to increase its number of outlets by 10 to 20 annually.

For the business year to February 2007, Diamond Dining projects unconsolidated sales of 3,500 million yen, up about two-fold, a recurring profit of 270 million yen, up 315.4 pct, and a net profit of 140 million yen, up 483.3 pct.END

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