fy2015 1st half presentation material 佐 · 2015-10-19 · 872.9 915.5 +42.5 total assets 7,859.8...

Copyright 2015 AEON CO., LTD. All Rights Reserved.

FY2015 1st Half

Presentation Material

October 7th, 2015AEON Co., Ltd.


Major line items FY20141st Half

FY20151st Half

YoYChange

Operating Revenue 3,431.5 4,074.8 +18.7％

Operating Income 43.3 72.2 +28.8

Ordinary Income 48.6 72.8 +24.2

Net Income 2.0 2.1 +0.1

FY2015 1st Half: Financial Results (Summary)

Posted Higher Operating Revenue and Income(Attained record-high operating revenue in 1st Half with 72.2 billion yen in operating income,

increased by 60% from previous period)

Indicates record high figures

1

Summarized Consolidated Statements of Income (Unit: %, billion yen)


Condensed（Unit: in bil.Yen） 2015/2 2015/8 YoY

Change

Cash 811.1 696.7 -114.4

Account Receivables(Incl. Account Receivables installment)

1,054.6 1,173.4 +118.7

Inventories 557.3 531.9 -25.3

Loan Receivables/Loans Discounted in Banking Business

1,347.6 1,411.4 +63.7

Tangible Fixed Assets 2,467.2 2,589.2 +122.0

Investment and Others 872.9 915.5 +42.5

Total Assets 7,859.8 8,118.1 +258.3

Condensed（Unit: in bil.Yen） 2015/2 2015/8 YoY

Change

Account Payables 946.6 914.3 -32.2

Interest-Bearing Debt(excl. Finance Services)

1,845.0(1,125.7)

2,072.4(1,297.3)

+227.4(+171.6)

Deposits for Banking Business 1,936.6 1,998.4 +61.8

Total Liabilities 6,029.8 6,240.1 +210.3

Shareholderʼs Equity 1,206.3 1,208.8 +2.5

Net Assets 1,829.9 1,878.0 +48.0

Total Liabilities and Net Assets 7,859.8 8,118.1 +258.3

FY2015 1st Half: Consolidated Balance Sheets

2


FY2015 1st Half: Business Segment Information

（Unit: %, in bil. Yen）Operating Revenue Operating Income

FY20151st Half YoY Change FY2015

1st Half YoY Change

GMS 1,370.9 +2.0％ -8.7 -4.3

SM・DS 1,556.9 +28.0％ 6.1 +14.7

Small-Sized Store 178.1 +16.6％ 2.1 +0.7

Drugstore & Pharmacy 294.4 +267.4％ 8.2 +6.9

Financial Services 175.2 +14.6％ 27.2 +6.2

Shopping Center (SC) Development 132.6 +12.8％ 20.8 +2.6

Services & Specialty Store 374.7 +4.1％ 16.4 +1.8

International 217.1 +22.2％ -0.9 -2.2

ASEAN（※） 117.3 +20.8％ 1.4 -0.8

China（※） 100.7 +23.7％ -2.1 -1.2

Consolidated Total 4,074.8 +18.7％ 72.2 +28.8

※The regional breakdown for the international business are simple combined totals. 3


Drugstore & Pharmacy, Financial Services, and SC Development Businessesongoingly contributed to consolidated earnings performance

SC Development

Financial Services

Drugstore & Pharmacy

• Domestic: Refurbishment of existing SC（6SC in total）

• Overseas: New stores are performing well, such as AEON Mall Jinyintan, Suzhou Yuangu Hudong etc.

Drugstore & Pharmacy, Financial Services, SC Development

• Domestic: Expanded shopping transaction volume

• Overseas: Thailand- Business tie-up with elevated trainoperator (BTS Group)

Hong Kong- Newly issued alliance credit card

• Refurbishment of existing stores(expanded prescription drugs etc.)

• Acquired 100% shares of TAKIYA and SHIMIZU YAKUHIN（Integrating logistics, POS systems, sales strategies etc.）

YoY Change in Operating Income

6.9bil.yen＋

6.2bil.yen＋

2.6 bil.yen＋

4




Operating Income grew year-on-year at major SM companies.Consolidated Earnings were driven by 14.7 billion yen year-on-year growth.

ＳＭ & ＤＳ Business Segment

（Unit: in billion yen)Operating Revenue Operating Income

FY20151st Half YoY Change FY2015

1st Half YoY Change

Daiei（＊） 301.3 -1.8％ -7.5 +2.3MaxValu Hokkaido 51.0 +5.2％ 0.4 -0.1MaxValu Tohoku 57.9 +1.6％ 0.7 +0.4MaxValu Tokai 108.9 +4.8％ 1.8 +0.6MaxValu Chubu 86.6 +6.1％ 1.1 +1.6MaxValu Nishinihon 137.9 +2.2％ 2.3 +1.4MaxValu Kyushu 76.4 +5.6％ 0.8 +0.3

Ref.）Ｕ.S.Ｍ.Ｈ 329.3 － 7.1 －SM & DS Total（＊＊） 1,556.9 +28.0％ 6.1 +14.7

5

(*) Daiei figures:1. Reflection of the change in recording standards relating to concessionary from FY2015.2. The figures in FY2015 include the performance of Gourmetcity (Kanto & Kinki) due to merger of these two companies into Daiei as of March 2015.

Accordingly, Daiei figures in FY 2014 are adjusted to be indicative of YoY at the same level.(**) SM & DS Total Figures are based on the management approach.


SM & DS Business Segment: Major Initiatives

SM & DS Business+14.7billion yen

Significant increase in profitability through local-based managementand the advantage of scale

Newly Consolidated Subsidiary

（ＵＳＭＨ）

InitiativesInitiatives Operating Income（YoY Change）

Operating Income（YoY Change）

【Operating Income YoY Change】

Implemented Joint Sales Promotion

Expanded Joint Procurement

Existing Companies（MaxValu etc.）

Enhanced Perishables & Delicatessen Areas

More Local Products

Daiei: Developed New Store Formats ＋7.6bil. yen

Contribution

＋7.1bil. yen

Contribution

6


7

(Unit: pts., %）Sales Share of Perishables &

Delicatessen Ref）SSS* ratio

YoY Change

Daiei（＊） +0.9 pts. +2.3%

MaxValu Hokkaido +1.4 pts. +8.4%

MaxValu Tohoku +0.5 pts. +1.7%

MaxValu Tokai +1.3 pts. +3.4%

MaxValu Chubu +1.0 pts. +4.1%

MaxValu Nishinihon +0.9 pts. +3.5%

MaxValu Kyushu +1.1 pts. +1.6%

Initiative for Perishables and Delicatessen contributed to increased sales

SM & DS Business Segment: Enhancement of Perishables and Delicatessen Items

*SSS stands for Same Store Sale


Part timers select local produce by their own.

Dried whitebait boiled in sweet

soy sauce

Development of sales floors, full of local produce

MaxValu Tokai: Initiatives of Localization

Locally sourced splendid alfonsino

Locally grown vegetables

「Jimono (Local) Products」 convention-210 Local companies and 1,000 employees of Aeon participated-

8


Daiei: Establishment of Urban-type SM stores

Urban-Style SM developed in 1st Half are performing well. Expanding more Urban-style SM in Kyoto-Osaka-Kobe region in FY2015, and creating a network of 20 stores, 2x as initial plan

Sales (YoY)：+10％(Food section only:+15％)

【Effectiveness of Urban-style SM refurbishment】

※The average of YoY Store Sales that is comparably measurable.

20stores

After Review

10stores

Initial

【Refurbishing Plan for FY 2015】

⇒

New MDs of Daiei that supports new store formatsNew MDs of Daiei that supports new store formats

9

Circular fresh fish counter for face-to-face sales “Café de D” providing coffee and donuts

Hors d’oeuvres corner featuring rare delicacies from regions throughout Japan to accompany evening drinks

“Satsuma Himegyu Beef Lunchbox”featuring fresh ingredients


Elimination of overlapped functions, and Promoting structural reforms aiming for generating group synergies

Daiei Reforms

Services June 1st, 2015 Creation of No.1 amusement facility operator in terms of revenues and # of facilities

Specialty July 8th, 2015Mergers of bookstore operators, creating one of Japanʼs largest bookstore chain with over 340 shops

ＧＭＳAEON Retail × Daiei

Sep 1st, 2015

Mar 1st, 2016

AEON Hokkaido/Kyushu × Daiei

Daiei transfer its 29 stores to AEON Retail on March 1st, 2016. (Besides that, 5 stores were transferred in September,2015)

× Fun Field

Sep 1st, 2015ＳＭ MV Hokkaido/Kyushu × Daiei Daiei transferred its 7 stores to MV Hokkaido and 14 stores to MV Kyushu

ＤＶ

Aeon Fantasy

MIRAIYA SHOTEN × Athine

Targeting next spring,Establishing one of Japanʼs largest urban fashion building operator by

integrating OPA(Daieiʼs subsidiary) and VIVRE FORUS(Aeon Retailʼs business division) , with a view to bring it under AEON Mall

10

Daiei transferred its 9 stores to AEON Hokkaido and 24 stores to AEON Kyushu


Aeon Retail: Promoting delegation

Acceleration of GMS reforms by delegating authority to regional companies and stores

Sale Activity

1st Quarter FY2015 2nd Quarter FY2015

Merchandizing

Store

Review of hiring system etc. with a view to delegation of authority to stores

Each store started full-scale operation (Increase working hours of employees at stores)

・Increased merchandizing staff by approx. 900.

・Strengthen procurement authority of stores

・Transfer procurement function・Expansion of local produces

Delegated authority regarding refurbishment to stores（Expanded scope of decision-making authority)

Promoting refurbishment(19 stores were implemented during 1st half)

Sales Reforms

Product Reforms

Refurbishment

11


Realizing a boost in sales resulting from sufficient staffing at sales floors

Results of GMS Reforms: Recovery in Sales

-20％

Results of sufficient staffing of sales floors

【YoY】

2nd Quarters(3months)

Man

-Hou

rs a

t sa

les

floor

s

Sales

【YoY】

1st Quarter(３months)+20％

-20％

+20％

+20％+20％-20％ -20％

Sales

※Plot marks are stores

12

Man

-Hou

rs a

t sa

les

floor

s

※Plot marks are stores


1st Half（6months）

Refurbishment of Existing Stores

Showed steady sales, particularly at large-scale refurbished stores in FY2015.The effect became more evident in the period from May to August, when impact of last yearʼs consumption tax hike subsided.

YoY change in sales of large-scale refurbished stores

FY2015 1st HalfLarge-Scale Refurbished Stores(19 stores) ％-1.0

％-1.2

％

％+2.6％+1.7

+2.1 ％

Period from May to August(4months）

-1.1

13

FY2013-14Large-Scale Refurbished Stores(28 stores)

Large-Scale Refurbished Stores(Total: 47 stores)


Refurbishment of existing stores: AEON STYLE

[ DRESSVAGUE ] [ Traditional Chinese Medicine ] [ Study Room for Adults ]

【AEON STYLE Kamatori】

YoY change in salesApril May June July August

+14.7 +17.4 +5.0 +10.1 +9.3

[Units in the store]

％％％％％

14


GMS Business: AEON Retail

Reforms are making steady progress. Operating income in the 2nd Quarter (3months) increased by 0.8 billion yen

Operating Income (Change from previous period)

2nd Quarter(3months)

1st Quarter(3months)

AEON Retail(1st Half)

bil. yen-2.4

-3.2

+0.8

Ref)Changes in SSS※ ratio in recent 3 months

July

August

September

+0.6％

+0.5％

+2.5％

15

Note: The figures for September is preliminary.※SSS stands for same-store sales.

bil. yen

bil. yen


FY2015 Outlook for Consolidated Earnings

In 1st half, we made steady progress toward achieving our announced full-year earnings targets.We plan to achieve profits growth in 2nd half and beyond by accelerating reforms.

（Unit: in bil. Yen,％） FY2015 Forecasts YoY Change

Operating Revenue 8,000.0 +13.0%

Operating Income 175.0 +33.7

Ordinary Income 165.0 +12.5

Net Income 42.5 +0.5

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Forecast Statement Disclaimer

• The purpose of this presentation is to provide information to investors. Thispresentation does not constitute an offer to sell, or a solicitation of an offerto subscribe for, or purchase shares in AEON or its group companies. Thispresentation (including the earnings plans herein) was created using reliableinformation available at the time of preparation. This presentation containsrisks and uncertainties. AEON and its group companies are not responsiblefor the accuracy and completeness of the information contained herein.

• Please use the information in this presentation at your own discretion andbased on your own judgment. AEON and its group companies are notresponsible for losses that arise from any decisions made from fully relyingon the forecasts, goals, and other targets in this presentation.

• AEON CO., LTD. maintains all copyrights to this presentation. No part of thisdocument may be reproduced or transmitted in any form or by any meanswithout the express permission of the copyright holder.

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fy2015 1st half presentation material 佐 · 2015-10-19 · 872.9 915.5 +42.5 total assets 7,859.8...

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