1st Quarter, Fiscal 2004 st Quarter, Fiscal 2004 1 Financial Results Briefing Financial Results Briefing April 28, 2004 Coca-Cola West Japan Co., Ltd. （ 2579 ） Contact: PR Division TEL 092-641-8591 FAX 092-632-4304 URL http://www.ccwj.co.jp/ E-mail mtakase@ccwj.co.jp
Contents Contents Appendix Appendix 1. 1. Q1 Ended March 2004 Overview Q1 Ended March 2004 Overview ‥‥ p.2 1. Financial Statements 2. Q1 Ended March 2004 Results in Summary 2. Q1 Ended March 2004 Results in Summary ‥‥ p.20 ・・・・ p.3 (1) Consolidated statement of income (1) Consolidated ‥‥ p.21 ・・・・ p.3 (2) Non-consolidated statement of income (2) Non-consolidated (3) Major reasons for differences between ‥‥ p.22 (3) Balance sheets ・・・・ p.4 planned & actual results (consolidated) ‥‥ p.24 (4) Consolidated statement of cash flows (4) Major reasons for changes from Q1, 2003 2. Sales Volume (consolidated) ・・・・ p.5 ‥‥ p.25 (1) Sales volume by brand 3. Marketing Activities for the Period 3. Marketing Activities for the Period ‥‥ p.26 (2) Sales volume by package ‥‥ p.8 ‥‥ p.27 (1) Flagship brand products (3) Sales volume by business unit ‥‥ p.28 ‥‥ p.10 (4) New/renewal product sales (2) Performance by business unit 3. Vending Machine Installation Status ‥‥ p.29 4. CCNBC and its Impact on CCWJ 4. CCNBC and its Impact on CCWJ 4. Market Status (1) Purpose of nationwide SCM integration ‥‥ p.11 ‥‥ p.30 (1) Market share by manufacturer ‥‥ p.12 (2) CRP (Cost Reduction Program) ‥‥ p.31 (2) Market share by category (3) Breakdown in CRP and its impact on ‥‥ p.32 ・・・・ p.13 (3) Market share by industry CCWJ 5. Capital Investment and Depreciation (4) Impact of production method changes for ・・・・ p.14 (1) Capital investment/depreciation consigned orders ‥‥ p.34 (consolidated) 5. Mikasa CCBC ‥・・ p.15 5. Mikasa CCBC 6. Japan’s Coca-Cola System ‥‥ p.35 6. Results Forecast for Interim 6. Results Forecast for Interim 7. Glossary ‥‥ p.37 2004 & Fiscal 2004 ‥‥ p.17 2004 & Fiscal 2004 ＣＣＷＪ 1
1. Q1 Ended March 2004 Overview (1) Steady sales volume ・ “Georgia,” one of flagship brands for winter, grew 3.3% year-on-year, contributing to the increase in sales volume ・ Coca-Cola TM and Sokenbicha also increased their sales volumes due to the renewal and new sales campaigns (2) Market share* decreased a 2.4% point to 30.7% ・ Should retain sales volume sufficient for sound operation and increase market share (3) Mikasa CCBC increased sales volume and exceeded its target Increased profits from increased sales. Operating income increased 170.1% annually, 9.4% larger than the target Good start “Market share” is defined here as a manufacturer’s share of sales at supermarkets, convenience stores, liquor shops and grocery stores. ＣＣＷＪ 2
2. Q1 Ended March 2004 Results in Summary (1) Consolidated (million yen, %) Q1 Q1 Fiscal 2004 Fiscal 2003 Plan Results vs. plan vs. Q1, fiscal 2003 change ratio change ratio Net sales 51,489 54,000 55,129 1,129 2.1 3,640 7.1 Operating income 1,660 4,100 4,484 384 9.4 2,824 170.1 Recurring profit 1,815 4,100 4,549 449 11.0 2,734 150.6 900 2,400 2,626 226 9.4 1,726 191.8 Net income (2) Non-consolidated (million yen, %) Q1 Q1 Fiscal 2004 Fiscal 2003 Plan Results vs. plan vs. Q1, fiscal 2003 change ratio change ratio Net sales 39,342 41,500 42,173 673 1.6 2,831 7.2 Operating income 2,114 4,300 4,332 32 0.7 2,218 104.9 Recurring profit 2,435 4,400 4,681 281 6.4 2,246 92.2 1,388 2,500 2,832 332 13.3 1,444 104.0 Net income Sales Performance (thousand cases, %) 19,451 20,170 20,713 543 2.7 1,262 6.5 Incl. other bottlers 18,063 18,458 18,730 272 1.5 667 3.7 Within area ＣＣＷＪ 3
(3) Major reasons for changes from Q1, 2003 (consolidated) (million yen) ・ Sales volume increase +1,300 ・ Sales mix, etc -500 Net sales +1,100 ・ Transfer from Mikasa CCBC +300 Cost of sales +1,000 +700 ・Sales volume increase ・ Sales mix, etc. +100 ・ Transfer from Mikasa CCBC +200 Operating profit +400 Selling, general & administrative +300 ・ Sales commission fees +200 ・ Ad expenses -500 Non-operating income - Recurring profit +400 Non-operating expenses - Extraordinary income - Extraordinary losses - Net income +200 Income taxes +200 ＣＣＷＪ 4
(4) Major reasons for changes from Q1, 2003 (consolidated) (million yen) ・ Sales volume increase +2,600 ・ Income from consigned orders +300 Net sales +3,600 ・ Transfer from Mikasa CCBC +400 ・ Transfer from Nishinihon Beverage +300 Cost of sales +2,000 ・ Sales volume increase +1,500 ・ Sales mix, etc. +200 ・ Effect caused by CCNBC business -100 ・ Cost of consigned orders +100 ・ Transfer from Mikasa CCBC +200 ・ Transfer from Nishinihon Beverage, etc. +100 Operating profit+2,800 Selling, general & administrative -1,200 ・ Personnel expense -1,800 ・ Sales commission paid +400 ・ Outsourcing expense +300 ・ Miscellaneous -100 Non-operating income -100 Recurring profit+2,700 Non-operating expenses - Extraordinary income -100 Extraordinary losses -300 Net income +1,700 ・ Write-down of investment securities, etc -300 Income taxes +1,200 ＣＣＷＪ 5
Reference (1): Consolidated Gross Profit & Operating Income Gross profit (billion yen) Gross profit for Q1, fiscal 2003 23.2 ＋ 1.1 Sales volume increase +0.1 Effect caused by CCNBC business +0.2 Income from consigned orders +0.4 Increase in affiliates 24.8 -0.2 Sales mix Gross profit for Q1, fiscal 2004 22 23 23 24 24 25 25 Operating profit Operating profit for Q1, fiscal 2003 1.6 ＋ 1.6 Sales volume increase ＋ 1.8 Personnel expense ＋ 0.1 Miscellaneous -0.4 Sales commissions paid -0.3 Outsourcing expense 4.4 Operating profit for Q1, fiscal 2004 0 1 2 3 4 5 6 ＣＣＷＪ 6
Reference (2): Effect of Change in Retirement Benefit Scheme January to March (million yen, %) Change Fiscal 2003 Fiscal 2004 results results amount ratio A ： Operating 1,660 4,484 2,824 170.1 income B ： Effect of the 425 2,271 1,846 434.4 change A － B 1,235 2,213 978 79.2 ＣＣＷＪ 7
3. Marketing Activities for the Period (1) Flagship brand products: vs. previous year in volume & ratio (1) Georgia (thousand cases, %) 400 15.0% +12.1% 300 285 10.0% 200 +4.7% 5.0% +2.3%+3.0% 106 100 54 64 0.0% - 3.8% 0 - 4.8% -5.0% -100 -107 -115 -200 -10.0% Oct Nov Dec Jan Feb Mar (2) Coca-Cola TM (thousand cases, %) 60 10.0% 7.8% 40 36 4.7% 3.8% 5.0% 26 2.7% 18 20 12 0 0.0% -20 -5.0% -6.1% -40 -8.1% -40 -60 -10.0% -50 Oct Nov Dec Jan Feb Mar ＣＣＷＪ 8
(3) Aquarius (thousand cases, %) 100 30.0% 18.7% 20.0% 65 50 10.0% 1 0.2% 0 0.0% -0.8% -3 -10.0% -50 -15.9% -21.2% -20.0% -23.7% -78 -80 -88 -100 -30.0% Oct Nov Dec Jan Feb Mar (4) Sokenbicha (thousand cases, %) 45 50 15.0% 37 40 27 10.0% 30 8.6% 7.0%10.4% 20 5.0% 0.9% 2 10 3 0.3% 0.0% 0 -10 -5.0% -5.0% -20 -30 - 23 -10.0% Oct Nov Dec Jan Feb Mar ＣＣＷＪ 9
(2) Performance by business unit (1) vs. Q1, fiscal 2003 Sales volume Change in volume Change ratio Vending Convenience Food Total Chain stores machines & retailers services 667 357 245 -123 167 By vol. vs. fiscal 03 In % vs.fiscal 03 3.7% 5.0% 7.9% -2.3% 11.3% ＣＣＷＪ 10
4. CCNBC and its impact on CCWJ (1) Purpose of nationwide SCM integration SCM SCM (CCNBC) (CCNBC) A supply chain for competitive A supply chain for competitive edge through low cost operation edge through low cost operation ・ Minimize total PPL cost/ Minimize total PPL cost/ ・ ・ Offer the best service Offer the best service ・ ・ Maintain top quality level Maintain top quality level ・ ・ Quick response Quick response ・ Consumer ・ Optimal risk taking/ Optimal risk taking/ ・ Customer services pull marketing new investment new investment (CCBC) (CCJC) Customer-focused Consumer-focused sales/operation strategy marketing innovation Top priority given to achieving significant cost savings Top priority given to achieving significant cost savings Coca- -Cola System Cola System’ ’s s Coca long long- -lasting power lasting power Long- -term goal of building a sustainably competitive system term goal of building a sustainably competitive system Long ＣＣＷＪ 11
(2) CRP (Cost Reduction Program) ・ “Business Strategy Presentation” held February 12, 2004: a 10 billion yen cost cut for 15 months from Oct 2003 to Dec 2004 ・ CRP achievement and forecast (million yen) Fiscal 2003 Fiscal 2004 Oct - Dec full Nationwide 2,100 8,100 CCWJ 250 1,000 Fiscal 2003 : price reduction for supply of previous toll type items Fiscal 2004 : price reduction for supply of previous toll type items and joint procurement of materials for FC items and vending equipment ＣＣＷＪ 12
Recommend
More recommend
