Pan Pacific International Holdings Corporation · TSE:7532
Pan Pacific International — Q3 FY2024 Earnings Presentation
24 slides from Pan Pacific International's earnings presentation, May 13, 2024
Slide 1: Q3 Results for FY 2024
Q3 Results for FY 2024 May 13, 2024 Pan Pacific International Holdings Corporation
Slide 2: Contents and explanatory notes
Contents １ Overview of Q3 results 2 Appendix Explanatory notes to this document 1. The values presented in this document are rounded to the nearest full unit. 2. The following abbreviations are used in this document: Pan Pacific International Holdings Corporation (7532) is abbreviated as “PPIH,” Don
Slide 3: Overview of Q3 results
Overview of Q3 results 2
Slide 4: Earnings summary for FY2024 Q3
Earnings summary for FY2024 Q3 Record high sales and profits were achieved both in Q3 and Q1–Q3. Operating income for Q1–Q3 was 110.3 billion yen, surpassing the previous 12-month operating income of 105.3 billion yen in 9 months. Domestic retail sales continued to drive the overall performanc
Slide 5: Full-year forecasts
Full-year forecasts The operating income forecast for the full year has been revised upward to 135 billion yen (up 5 billion yen). Strong Q3 results are reflected in the full-year forecast. In addition to the revision of operating income, we have revised up its recurring profit and net income,
Slide 6: Discount store (DS) business
Discount store (DS) business For Q1–Q3 FY2024, continued growth of the existing stores contributed to the results, which marked net sales of 984.6 billion yen (up 106.7 billion Q1–Q3 FY2024 Change in Net Sales yen YoY) and operating income of 65.7 billion yen (up 23.3 billion yen YoY). <Billion yen>
Slide 7: Discount store business: "hobo-shin" (a "near-new" format)
Discount store business: “hobo-shin (a “near-new” format)” “Hobo-shin,” a “near-new” type store format, which has the same appearance as MEGA Don Quijote on the outside but has been significantly updated on the inside, was launched as the newly opened MEGA Don Quijote Narimasu store. Fresh food
Slide 8: Discount store (DS) business: number one tourist destination
Discount store (DS) business: number one tourist destination Q1–Q3 tax-free sales totaled 81.3 billion yen (up 60.3 billion yen YoY), exceeding the annual tax-free sales of 68.4 billion yen marked before Covid-19 pandemic. Although the nationalities of people visiting stores have changed compare
Slide 9: GMS business
GMS business Q3 FY2024 Change in Net Sales Achieved record-high operating income of 27.2 billion yen (up 6.6 billion yen YoY) for Q1–Q3 FY2024. Operating profit margin was 7.8% (up 1.9 pts <Billion yen> YoY ), boasting a high profit margin compared to other GMS. Existing store achieved 100.7% of t
Slide 10: GMS business: price voting
GMS business: price voting We now have the earning power. The challenge is the number of customers. By integrating the head offices and adopting individual store management approach, FY2019 FY2024 the earnings structure has improved to a 7.8% operating profit margin in the latest Q1– Q1–Q4 Q1–Q3
Slide 11: Overseas business
Overseas business Q1–Q3 FY2024 Change in Net Sales No major change in trend from the first half of the year, but we are <Billion yen> starting to see signs of improvement in both North America and Asia. ■Asia Business Compared to the full-year forecast revised in Q2, operating profit trended upwar
Slide 12: North America business: first store opening in Guam
North America business: first store opening in Guam Opened the first DON DON DONKI shop format, "VILLAGE OF DONKI (Guam)," in North America as a single store that will bring significant value to the North American business (equivalent to 10 new stores). Leveraging our unique product supply netwo
Slide 13: Status of major assets, liabilities and net assets
Status of major assets, liabilities and net assets (Unit: Billion yen) (Unit: Billion yen) June 2023 March 2024 June 2023 March 2024 Amount Amount Change Amount Amount Change Current assets 551.8 497.2 (54.6) Total current liabilities 368.4 364.4 (4.1) Cash and deposits 242.1 165.9 (76.2) Accounts p
Slide 14: Status of cash flows and capital expenditure
Status of cash flows and capital expenditure ▶ Cash Flow Status (Unit: Billion yen) <Operating CF : up 113.6 billion yen> Q3 Q3 ▶ Cash in factors: 110.2 billion yen in profit before FY 2023 FY 2024 income taxes, 33.8 billion yen in depreciation, and 24.8 billion yen in increase in notes and accounts
Slide 15: Reference: April flash report on domestic DS/GMS business
Reference: April flash report on domestic DS/GMS business In domestic retail, both the DS business and the GMS business performed well, with all product categories increasing YoY. Customer numbers also grew, excluding the impact of holidays. ▶ YoY comparison of existing store sales ■ DS business
Slide 16: Appendix
Appendix 15
Slide 17: Q3 results by business segment
Q3 results by business segment (Unit : Billion yen) 【Period: January 1, 2024–March 31, 2024】 DS business GMS business Asia business North America business Others / Adjustments Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Change Change Change Change Change FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 FY2
Slide 18: Overview of Q3 results by business on a consolidated basis
Overview of Q3 results by business on a consolidated basis [Period: July 1, 2023–March 31, 2024] (Unit: Billion yen) Q3 FY2023 (Cum.) Q3 FY2024 (Cum.) Amount Ratio Amount Ratio YoY Domestic DS business 844.8 58.0％ 952.1 60.7％ 112.7％ Home electrical appliances 63.3 4.3％ 69.1 4.4％ 109.2％ Miscellaneous
Slide 19: Breakdown of SG&A expenses
Breakdown of SG&A expenses 【Period: January 1, 2024–March 31, 2024】 (Unit : Billion yen) Q3 FY2023 Q3 FY2024 Amount Ratio Amount Ratio YoY SG&A 123.8 25.9% 127.9 24.6% 103.3% Salaries and allowances 46.1 9.6% 48.6 9.3% 105.4% Rent 15.1 3.1% 15.5 3.0% 103.0% Commission paid 16.4 3.4% 15.5 3.0% 94.9%
Slide 20: FY2024 New store openings
FY2024 New store openings Q1 Q2 Q3 Q4 Business Format Full-year Forecast Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Takamatsu Marugame Tsurugashima Imizu Narimasu Kaizuka Uenoshiba 5 stores -Machi (Saitama) (Toyama) (Tokyo) (Osaka) (Osaka) (Kagawa) Keikyu GaLa Town Hikone Uguisudani Tsubame Kam
Slide 21: Store network
Store network Number of Domestic Retail Stores Number of Overseas Stores FY202 FY2024 FY2024 FY2022 FY2022 FY2023 3 Q1 Q2 Q3 Q1 Q2 Q3 Discount store business 468 486 485 488 488 North America business 65 65 65 66 65 Don Quijote 237 250 250 253 252 California 37 37 37 38 37 MEGA Don Quijote *1 140 14
Slide 22: IR information
IR information IR inquiries IR Division, Pan Pacific International Holdings Corporation Dogenzaka-dori 8F 2-25-12 Dogenzaka, Shibuya-ku, Tokyo 150-0043 TEL: 03-6416-0418 FAX: 03-6416-0994 e-mail : ir@ppih.co.jp IR Calendar Announcement of Q4 results for the fiscal year ending June 2024 (scheduled) D
Slide 23: memo
memo 22
Slide 24: Dogenzaka-dori 8F 2-25-12 Dogenzaka, Shibuya-ku, Tokyo 150-0043 TEL: 03-6416-0418 / FAX: 03-6416-0994 / e-mail:
Dogenzaka-dori 8F 2-25-12 Dogenzaka, Shibuya-ku, Tokyo 150-0043 TEL: 03-6416-0418 / FAX: 03-6416-0994 / e-mail: ir@ppih.co.jp https://ppih.co.jp/
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