Performance Briefing for the First Half of the Fiscal Year Ending March 31, 2011 November 18, 2010 AOKI Holdings Inc.
Contents 3 AOKI Group's Business Portfolio Management Anniversaire and Bridal Business Performance and Forecast 27 Management 4-5 Industry Trends and Position within Industry Current Status of Business Portfolio 28 6 First Half of FY3/11 Review of Operations First Half of FY3/11 Review of Operations 30 Analytic Indices Consolidated Profit and Loss 7 31 FY3/11 Full-year Forecast FY3/11 First-half Financial Highlights 8 32 Towards growth strategy Sales and Operating Profit by Business Segment 9 33 Major Changes in Consolidated Balance Sheets 10 Entertainment Business Performance and Forecast 36 Consolidated Statements of Cash Flows Industry Trends and Position within Industry 11 37 Number of Stores Opened/Closed First Half of FY3/11 Review of Operations: Total 12 40 First Half of FY3/11 Review of Operations: Karaoke rooms FY3/11 Full-year Sales and Earnings Forecasts 13 41 Business Forecast for FY3/11: Karaoke rooms Consolidated Forecast 14 42 First Half of FY3/11 Review of Operations: Café complex Forecast for Sales and Operating Profit by Business 15 43 Segment Business Forecast for FY3/11: Café complex 44 Outlook for Store Openings/Closings 16 Supplementary Documents 45 Fashion Business Performance and Forecast 17 First Half of FY3/11 Consolidated Business Results 46 First Half of FY3/11 Review of Operations 18 First Half of FY3/11 SG&A Expenses 47 Existing-store Sales, Customer Volume and Sales per Full Year FY3/11 Consolidated Forecast 19 48 Customer Full Year FY3/11 SG&A Expenses Forecast 49 AOKI: First-half Initiatives and Performance 20 Reference: First Half of FY3/11 Fashion Business 50 ORIHICA: First-half Initiatives and Performance Performance 21 AOKI: Second Half of FY3/11 Initiatives 22 Reference: FY3/11 Fashion Business Outlook 53 24 ORIHICA: Second Half of FY3/11 Initiatives 25 FY3/11 Earnings Forecast ORIHICA: Toward further growth through aggressive 26 store openings 2
AOKI Holdings' Business Portfolio Management
Business Portfolio Comprised of Three Businesses Anniversaire and Bridal Fashion Business Entertainment Business Business "Pleasure of dressing well" Choreographing special events where Offering entertainment and relaxation customers are in the spotlight Provides customers opportunities for rest, The AOKI Group's founding business. Suits are Choreographs weddings –and "guesthouse" relaxation and entertainment in a variety of the key item in this business, but we also weddings in particular– to ensure customers welcoming environments. Top in the café provide casual wear and women's wear to shine on the most important day of their lives. complex industry. enrich the fashion lives of our customers both at work and outside of work. COTE D'AZUR ANNIVERSAIRE OMOTESANDO AOKI Chain of primarily free- standing stores, although Completed in 1998 based on the we have recently begun to concept of "anniversary." A hall open stores in central Tokyo with a chapel, party space, and as well (photo: AOKI GINZA shops for all ceremonious Store). Features carefully occasions. Located in the center of planned products and stylists the fashionable Omotesando Karaoke party space, modeled after the luxury resort district. Well-known for hosting the with highly-specialized area COTE D'AZUR in south France, that provides a weddings of the famous, has knowledge that offer total refreshing and relaxing atmosphere filled with song and become the top brand for weddings. coordination to customers. conversation. It offers pleasurable moments for people's everyday lives (photo on right: Shimokitazawa Store VIP room). WEDDING VILLAGE, PARTIRE GEIHINKAN ORIHICA KAIKATSU CLUB Chain of stores primarily in shopping centers. Offer new "business" and "business-to- casual" styles targeting men and women in their 20's to 30's. Guesthouse wedding facility with a Café complex, modeled after the island of Bali, that European style chapel and garden filled with flowers and provides a relaxing and rejuvenating environment for greenery. The Group operates 11 such facilities nationwide. those who want to quietly rest or those who just want a These facilities are our answer to customers who want a change of pace. KAIKATSU SQUARE (photo on the unique wedding that reflects their individuality. left) in Kita-yamata, Yokohama, offers a fitness club, * The name of the facility will be changed bedrock baths, karaoke space, and simulated golf to ANNIVERSAIRE from January 2011 range. 4 4
FY3/11 First-half Financial Highlights First-half Sales First-half Operating Profit The Fashion Business returned to profitability New store openings contributed to greater sales in the (Millions of yen) Entertainment Business (Millions of yen) 2,000 70,000 894 894 58,603 1,500 57,908 60,000 10,825 12,163 +12.4% 1,000 786 50,000 901 500 11,263 10,990 -2.4% 40,000 597 597 0 30,000 1,012 1H FY3/11 -671 -500 -1.0% 20,000 35,832 35,466 1H FY3/10 -1,000 10,000 Sharp increase in group-wide 0 operating profit (Millions of yen) 1H FY3/10 1H FY3/11 Entertainment Fashion Anniversaire and Bridal 2,500 2,132 2,000 1,500 1,250 1,000 500 0 1H FY3/10 1H FY3/11 * Segment figures for the previous term have been recalculated based on this term's classifications. 5
First Half of FY3/11 Review of Operations
Consolidated Profit and Loss (Millions of yen) Account/Period Change YoY % Major components 1H FY3/10 1H FY3/11 Increase in existing-store sales at AOKI Sales and ORIHICA, and contributions from new 57,908 58,603 694 101.2 stores in the Entertainment Business Gross profit 25,639 26,231 592 102.3 1.1pt improvement at AOKI and ORIHICA Gross profit margin 44.3% 44.8% +0.5pt Selling, general and 24,388 24,098 -290 98.8 Decrease in M/X administrative expenses Operating profit 1,250 2,132 882 170.6 Large contribution from Fashion Business Operating margin 2.2% 3.6% +1.4pt Non-operating profit 1,109 1,272 162 114.7 Non-operating expenses 651 674 23 103.5 Ordinary income 1,708 2,730 1,022 159.8 Extraordinary gains 200 28 -171 14.4 Asset retirement obligation of 1,466 million Extraordinary losses 748 1,712 963 228.9 yen Net income 918 446 -471 48.6 Depreciation: ¥2,643 million (including lease assets of ¥351 million) Fashion Business YoY existing-store sales: +2.2% for 1H 7
FY3/11 First-half Financial Highlights Slight increase in sales, and large increase in profits, on strong existing-store sales in Fashion Business Sales Operating profit (Hundred million yen) ( 億円 ) (Hundred million yen) 25 700 21 586 579 577 600 20 60 49 58 4 14 108 122 121 121 8 500 58 61 64 15 3 4 12 7 112 109 400 112 4 3 10 7 9 300 5 5 9 200 5 358 354 343 0 -0 10 100 1H FY3/11 Plan 1H FY3/11 Results -6 -5 0 1H FY3/10 1H FY3/11 Plan 1H FY3/11 Results 1H FY3/10 -10 Fashion Anniversaire and Bridal Entertainment Karaoke Café complex *Segment figures for the previous term have been recalculated based on this term's classifications. 8
Sales and Operating Profit by Business Segment [Sales by business segment] (Millions of yen) 1H FY3/11 Business segment 1H FY3/10 Change YoY % Major components Total 57,908 58,603 694 101.2 Fashion 35,832 35,466 -366 99.0 Decrease in sales due to the closure of M/X stores Anniversaire and Bridal 11,263 10,990 -272 97.6 Decrease in the number of couples married Entertainment (Total) 10,825 12,163 1,337 112.4 Contribution from 17 new facilities (of which) Karaoke 5,832 6,110 278 104.8 (of which) Café Complex 4,993 6,052 1,058 121.2 [Operating profit by business segment] (Millions of yen) Business segment 1H FY3/10 1H FY3/11 Change YoY % Total 1,250 2,132 882 170.6 Fashion -671 597 1,269 - Anniversaire and Bridal 1,012 786 -226 77.6 Entertainment (Total) 901 894 -7 99.2 (of which) Karaoke 539 404 -135 75.0 (of which) Café Complex 362 489 127 135.3 Inter-segment transactions 7 -145 -153 - *Segment figures for the previous term have been recalculated based on this term's classifications. 9
Major Changes in Consolidated Balance Sheets (Millions of yen) Account/Period 1H FY3/11 FY3/10 Change Major components Current assets -975 Decrease in accounts receivable-trade, etc. 42,449 43,424 Cash in hand and in banks 1,148 Increase in long-term debt, etc. 18,146 16,997 Inventories 726 Increase due to openings of new stores 16,411 15,684 Fixed assets 118,023 115,764 2,258 2,280 Increase due to openings of new stores and asset Tangible fixed assets 79,449 77,168 retirement obligations Intangible fixed assets 4,016 3,890 126 Investments and other assets 34,557 34,706 -148 Total assets 160,472 159,189 1,283 -10,695 Repayment of short-term debt and decreases in Current liabilities 27,807 38,503 income taxes paid, etc. Notes and accounts payable- 11,312 12,340 -1,027 trade Long-term liabilities 35,648 23,269 12,379 Debt 9,452 Long-term debt for capital investment 24,949 15,497 Total liabilities 63,456 61,772 1,683 Common stock 23,282 23,282 - Capital surplus 24,788 24,788 - Retained earnings -193 Dividends paid, etc. 55,498 55,692 Treasury stock -7,079 -7,078 -1 Unrealized gain on securities -133 100 -234 Stock acquisition rights 658 630 28 Total net assets 97,015 97,416 -400 Total liabilities and net assets 160,472 159,189 1,283 10
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