The Benihana 2024 Franchise Disclosure Document (FDD) includes lists of current and former franchisees as exhibits. Specifically, Exhibit C contains a list of current franchisees, while Exhibit D lists former franchisees. According to Exhibit D, the list of former franchisees includes those who had a franchise terminated, cancelled, not renewed, or otherwise ceased operations during the most recently completed fiscal year, after the end of the prior fiscal year but before the effective date of the 2024 Disclosure Document, or those who have not communicated with Benihana within 10 weeks of the issuance date of the Disclosure Document.

This means that the lists provide a snapshot of franchise activity up to a certain point in 2024. For prospective franchisees, this information is valuable for assessing the stability and turnover within the Benihana franchise system.

However, the FDD does not specify the exact 'most recently completed fiscal year.' To get a clearer picture, a potential franchisee should ask Benihana for the specific end date of the fiscal year that the lists of current and former franchisees pertain to. This will help in understanding the time frame covered by the data and in making a more informed decision.