McDonald's

I posted about McDonald's on my blog few days ago. I closely checked the financial data and I realized I got the wrong idea. 

Looked the finance data was McDonald's HD Japan. Their main service is real estate rental not selling products. 

They have another index which is systemwide sales, so I should look it for to check their products sales. The systemwide sales include sales at all restaurants, whether operated by the company or by franchisees.
The systemwide sales has been increasing since 2005.

And I checked McDonald's HD Japan's financial data again. Their operating margin ratio had increased for the past 5 years because their cost to sales ratio was decreasing.

So, How did they they decreasing cost to sales ratio. It think they change stores from corporate operated to franchised. The company operated stores were 74% in 2006. But it's 46% in 2009. And of cause, they was closing unprofitable stores.