FY2014 3rd Quarter Presentation Material...2015/01/09 · Assets 2014/2 2014/11 Change Cash and...

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

FY2014 3rd Quarter

Presentation Material

January 9, 2015AEON Co., Ltd.


FY2014 3rd Quarter: Financial Results

(Unit: in bil. yen, %) FY2013 3Q (9 months)

FY2014 3Q (9 months) YoY Change

Operating Revenue 4,621.1 5,077.0 +9.9%

Operating Income 94.8 49.3 -45.4

Ordinary Income 98.5 56.9 -41.5

Net Income 19.9 29.3 +9.4

2

【Consolidated Statements of Income (Summary)】


Assets 2014/2 2014/11 Change

Cash and Time Deposits 653.9 661.7 +7.7

Notes and Accounts Receivable – Trade 894.8 1,110.1 +215.2

Merchandise Inventories 468.4 556.5 +88.0

Financial Loan, and Loans and Bills Discounted for Banking Business

1,203.4 1,436.2 +232.7

Fixed assets -Tangible 2,182.8 2,433.1 +250.2

Investments and Other Assets 789.1 796.5 +7.3

Total assets 6,815.2 7,740.1 +924.9

3

Liabilities and Net assets

2014/2 2014/11 Change

Notes and Accounts Payable - Trade 742.9 983.7 +240.8

Interest-Bearing Debt (Financial Service Business excluded)

1,574.8(941.5)

1,960.3（1,085.5）

+385.4（+144.0）

Deposit for Banking Business 1,701.3 1,725.9 +24.6

Total Liabilities 5,130.6 5,992.6 +861.9

Shareholder’s Equity 1,084.9 1,085.8 +0.9

Total Net Assets 1,684.5 1,747.5 +63.0

Total Net Assets and Liabilities 6,815.2 7,740.1 +924.9

【Consolidated Balance Sheets (Summary)】(Unit：in bil. yen)



（Unit：in bil. yen) 2013/11 2014/11 YoY Change

Cash Flow from Operating Activities(excluding the Change in Deposits and Loans in

Banking Business from Original Op CF*）

450.9（116.4）

37.4（227.2）

-413.5（+110.8）

EBT 86.8 79.6 -7.2

Depreciations and Amortizations 127.7 138.6 +10.9

Change in WC -203.7 -33.6 +170.1

Change in Deposits and Loans in Banking Business 334.5 -189.8 -524.3

Tax Payment -58.2 -81.1 -22.9

Others 163.8 123.8 -40.0

Cash Flow from Investing Activities -141.3 -281.2 -139.9

CAPEX -306.7 -329.3 -22.6

Stock Investment -3.2 -6.9 -3.7

Others 168.6 55.0 -113.5

Cash Flow from Financing Activities -114.1 240.6 +354.8

Change in Cash and Cash Equivalents 203.1 -2.5 -205.6

4

【Consolidated Statements of Cash Flow (Summary)】


* Op CF: Operating Cash Flow


FY2014 3rd Quarter: Business Segment Information

(Unit：%, in bil. Yen)

Operating Revenue Operating Income

FY2014 3Q (9 months)

YoY Change(%)


YoY Change(in bil. Yen)

GMS 2,474.3 +15.3％ -28.9 -35.4

SM・DS・SS 1,536.4 +5.0％ -0.1 -7.6

Financial Service 231.6 +12.4％ 28.9 +3.8

SC Development 181.5 +13.7％ 28.9 -0.7

Service & Specialty Store 525.6 +1.8％ 16.4 -2.1

ASEAN 150.7 +15.1％ 4.0 -0.6

China 121.1 +14.6％ -2.1 +0.4

Ref） Drug & Pharmacy 118.2 +2.3％ 2.0 +0.6

Consolidated Total 5,077.0 +9.9％ 49.3 -45.4

5

【Actual Results by Business Segment】

Note1: Those figures in each business segment are based on Management Approach, except for Drug & Pharmacy.Note2: Abbreviations in the box above are as follows;

GMS-General Merchandise Stores, SM-Super Market, DS-Discount Stores, SS-Small Size Stores, SC-Shopping Center


6

GMS Business: Financial Results

（Unit：in bil. yen）FY2013 3Q (9 months)

FY2014 3Q (9 months) YoY Change

Aeon Retail ※1 5.7 -18.2 -24.0

Daiei ※1, 2 -3.7 -15.8 -12.0

Aeon Hokkaido ※1 5.8 5.4 -0.3

Aeon Kyushu ※1 -2.0 -3.8 -1.8

GMS Business Total※3 6.5 -28.9 -35.4

【Operating Income】

※１－ Figures are based on Each Company. ※２－ Consolidation Periods of Daiei with Aeon: 3 months for FY2013 and 9 months for FY2014.※３－ Figures are based on Management Approach .


7

AEON Retail: Refurbishment of Existing Stores in FY2014

※Total SSS Ratio line of AR

＋10.0

13 Existing Stores, Refurbished in FY2014（Sales Growth after Refurbishment (YoY Base）

13 Existing Stores, Refurbished in FY2014（Sales Growth after Refurbishment (YoY Base）

Establishing and Rolling Out the Success Model in quick manner is required.

Average(13 stores)

+7.1

＋5.0

±0.0

－5.0

(pts.)

※The base line shows Same Store Sales (SSS) ratio of Aeon Retail for 3month periods (96.2%).


SM･DS･SS Business: Financial Results

（Unit：in bil. yen)Operating Revenue Operating Income


YoY(%)


YoY(in bil. Yen)

MaxValu Hokkaido 71.8 +7.9％ 0.8 +0.3

MaxValu Tohoku 83.2 +12.5％ +0.0 -0.1

MaxValu Tokai 155.3 +3.2％ 1.6 +0.1

MaxValu Chubu 122.8 +7.6％ -0.3 -1.0

MaxValu Nishinihon 201.7 +2.2％ 1.3 -0.4

MaxValu Kyushu 108.9 +4.0％ 0.4 -0.5

SM business total ※１ 1,190.6 +2.1％ 1.9 -3.8

DS business total ※１ 123.9 +19.5％ -1.8 -1.8

MINISTOP 121.5 +11.2％ 2.6 -1.5

SS business total ※１ 231.5 +13.8％ 2.8 -2.5

SM・DS・SS total ※２ 1,536.4 +5.0％ -0.1 -7.6

※1:The figures represent the sum of the individual companies, ※2:The figures are based on the management approach.

8


Priority Measures after 3rd Quarter Priority Measures after 3rd Quarter

9

SM･DS･SS Business: Business Summary for 3rd Quarters

Strengthening Competitiveness in Regional Area, and Aggressive Promotion of Dominant Strategy in the Metropolitan Area

※SRP products－ Shelf ready package

SM・DS・SS businessSM・DS・SS business

SM businessSM business

DS businessDS business

SS businessSS business

Establishment of the New Store Model, corresponding to Business Format and Trade Area, and realizing the Low-cost Operation.

Promoting the Refurbishment of Existing Stores

Promoting the Localization of Products Purchasing (Enhancement of Locally-grown Products)

Improving the Profitability by Outsourcing the Product Packaging

Accelerating Store Openings of Aeon BIG which is enjoying Good Sales

Promoting the Low-cost Operation by the Introduction of SRP products and Standardization of Cash-register Operation

Promoting the Dominant Strategy in the Metropolitan Area (My Basket etc.）

Expansion of # of the Stores, selling SM Products (MINISTOP etc.)


Status of Oversea Business

10


11

Aeon Mall Wuhan Jinyintan store (Opened on December 19, 2014)

The 1st store in Wuhan-city, Hubei province, China

900,000 persons（Total number for 17 days since Grand Opening）

900,000 persons（Total number for 17 days since Grand Opening）

Customer Traffic：Customer Traffic：


The 2nd store in Vietnam

Aeon Bing Duong Canary store (Opened on November 1, 2014)

12


Reconstruction of Group Investment Strategy

13


Re-examination of Investment Plan for FY2015-2016

Prior Investment to the Business Fields with Growth Potential1

2

Aiming for the Sustainable Group Growth and the Improvement of Management Efficiency by Re-examination of the Investment Policy

Asia Region

Re-examination of the Investment Portfolio mainly for New GMS Stores and SM Stores in Japan

【Direction of the Revised Investment Strategy】【Direction of the Revised Investment Strategy】

Domestic Business-Growing fields (Restructuring/Reorganization of the business, Digital and IT etc.)

【Investment Portfolio】【Investment Portfolio】

Total Amount of Investment in FY2015-16, compared with the Original Plan

Domestic Investment

Overseas Investment

▲3％

＋15％Schedule Change in consideration of ROI of the Domestic SC

For New store

For Refurbishment

▲10％

＋12％

Refortifying Competitiveness of the Core Business

3 Optimizing the Timing of New Store Openings


Investment Plan (GMS and SM･DS･SS) for FY2015-2016

Change in the Investment Portfolio for Drastic Improvement inthe Profitability of the Business and the Capital Efficiency of AEON Group

Investment Portfolio (In Comparison to the original plan)

Investment Portfolio (In Comparison to the original plan)

NSNS

NSNS

ES

ES

ES※ ES

（Cutback）

（Increase）

【GMS】

【SM・DS・SS businesses】

【Small Size Stores】【Discount Stores】【Super Market】

＋50％

＋25％

＋0％

-25％

＋50％

＋25％

-25％

※The investment amount for DS business is insignificant (less than 0.1％ against the total amount of group investments), and thus not displayed on.

NS: New StoresES: Existing Stores


Financial Outlook

16


FY2014 Financial Outlook

(Unit：in bil. Yen, %) FY2013 Actual

FY2014 Forecast

YoY Change(%)

Operating Revenue 6,395.1 7,000.0 +9.5％

Operating Income 171.4 200.0～210.0 +16.7～+22.5％

Ordinary Income 176.8 200.0～210.0 +13.1～+18.7％

Net Income 45.6 48.0 +5.3％

17


Disclaimer

This material contains projections based on theassumptions, forecasts and plans on futures. Due tothe risks and unpredictable factors such as theenvironmental change of world economy andcurrency fluctuations, the actual results could bedifferent from the described projections.

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FY2014 3rd Quarter Presentation Material...2015/01/09 · Assets 2014/2 2014/11 Change Cash and...

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