Nextage Co., Ltd. · TSE:3186
Nextage — Q3 FY2024 Earnings Presentation
25 slides from Nextage's earnings presentation, Oct 7, 2024
Slide 1: Fiscal 2024 3rd Quarter Financial Results Presentation
Financial Results Presentation Fiscal 2024 3rd Ｑｕａｒｔｅｒ Financial Results Presentation October 7, 2024 NEXTAGE Co., Ltd. (3186)
Slide 2: Contents
Contents １．Results Overview ２．Reference Information 2
Slide 3: Fiscal 2024 Business Performance (Q3)
Fiscal 2024 Business Performance (Q3) （Millions of yen） Percent FY2024 Q3 Comparison FY2023 FY2023 FY2024 FY2024 FY2024 of net YoY with plan cumulative sales Ｑ3 Ｑ4 Ｑ1 Ｑ2 Ｑ3 Net Sales 401,412 100.0％ 114.9％ 74.3％ 119,396 114,241 119,457 145,526 136,429 Gross Profit 73,196 18.2％ 109.8％ － 25,004 20,173
Slide 4: Market Environment (the Number of Car Registrations)
Market Environment (the Number of Car Registrations) ■ Used car registrations （December 2023 to August 2024） Results Results Comparison Results Comparison Number of units in FY2024 in FY2023 with FY2023 in FY2022 with FY2022 Ordinary passenger cars 1,985,526 1,893,974 104.8％ 1,906,016 104.2％ Kei (li
Slide 5: Market Environment (Change in Market Price of AA in Japan)
*1 Market Environment （Change in Market Price of AA in Japan） *1 Automobile auctions ■ Changes in average AA sales price and （Thousands of yen） contract completion rate of AA 1,400 75% 1,200 70% 1,000 65% 800 60% 600 55% 400 50% 200 45% 0 40% Sep. 2023 Oct. 2023 Nov. 2023 Dec. 2023 Jan. 2024 Feb. 20
Slide 6: Monthly Retail Sales Volume in Fiscal 2024
Monthly Retail Sales Volume in Fiscal 2024 ■ Monthly retail car sales volume and YoY comparison (Number of units) Sales track：73.8% （Annual plan：178,500 vehicles） 16,849 17,000 16,017 15,518 15,768 14,238 14,100 15,027 15,000 13,000 11,009 11,450 13,276 11,000 10,715 10,916 11,694 11,105 10,662 10,8
Slide 7: Changes in Primary KPI Status
Changes in Primary KPI Status Retail car sales Vehicle purchases （Number of units） 131,802 （Number of units） 200,000 191,785 119,168 120,000 148,763 150,000 80,000 YoY 100,000 YoY 40,000 110.6％ 50,000 128.9％ 0 0 FY 2023 Q3 FY 2024 Q3 FY 2023 Q3 FY 2024 Q3 cumulative cumulative cumulative cumulative
Slide 8: Financial Results of Each Business Unit
Financial Results of Each Business Unit ■ : Net sales ■ Changes in net sales and gross profit of each business unit ■ : Gross profit （Millions of yen） Used vehicle dealerships Net sales Purchasing stores Net sales 128,951 YoY 240000 208,230 213,204 YoY 75000 50000 102.4％ 93,843 137.4％ 160000 50000 8
Slide 9: Gross Profit Margin and SG&A Expenses Ratio Analysis
Gross Profit Margin and SG&A Expenses Ratio Analysis ■ Changes in gross profit margin and selling, general and administrative expenses ratio (consolidated) Gross profit margin Selling, general and administrative expenses ratio Operating 22.0% 21.4% income margin 20.9% 1.7% 20.0% 19.5% 18.6% 17.6% 18
Slide 10: Analysis of Gross Profit Margin
Analysis of Gross Profit Margin ■ Changes in average retail sales price ■ Changes in average AA sales price and （excluding new vehicle dealerships） and profit per vehicle of AA unit profit per vehicle in used vehicle dealerships （excluding new vehicle dealerships） Sales Price Sales Price Profit per
Slide 11: Profit per Unit at Used Vehicle Dealerships by Components
Profit per Unit at Used Vehicle Dealerships by Components ■ Changes in profit per unit at used vehicle dealerships by components ① Vehicle ② Accessories ③Financial products （％） （％） （％） 140 140 120 120 100 100 100 80 80 60 60 40 40 20 20 0 0 0 FY2022 FY2023 Fy2023 FY2023 FY2024 FY2024 FY2024 FY2024 F
Slide 12: Profit per Unit at Used Vehicle Dealerships by Components
Profit per Unit at Used Vehicle Dealerships by Components ■ Changes in profit per unit at used vehicle dealerships by components ④ AA sales of trade-in and ⑤ Disposal of backlogs and （％） purchased vehicles （％） inventory replacement 120 0 100 80 -100 60 40 -200 20 0 -300 FY2022 FY2023 FY2023 FY2023 F
Slide 13: Product Management Status
Product Management Status ■ Changes in inventory turnover days ■ Supplier composition of retail sales （Unit : day） （excluding new vehicle dealerships） （excluding new vehicle dealerships） 100% 45.1 43.5 41.5 40.5 39.7 50.6 57.0 38.9 38.6 56.6 64.9 68.4 50% 37.1 37.2 36.5 33.0 37.4 31.8 30.5 26.4 24.7
Slide 14: Operating Income Analysis
Operating Income Analysis (Millions of yen) ■ Changes in operating income 25,000 6,541 20,000 YoY ＋34.7％ ▲ 2,611 YoY ＋21.7％ 15,000 ▲ 2,599 YoY＋12.3％ ▲ 2,287 YoY＋29.2％ ▲ 885 10,000 Q3 end ▲ 2,414 +56 storefronts 5,000 14,439 Purchased vehicles volume YoY＋28.9％ 10,184 Sales volume YoY＋10.6％ 0 Operatin
Slide 15: FY 2024 efforts and progress of retirement rate
FY 2024 efforts and progress of retirement rate Caring employees’ motivation Increasing the number of annual with 1 on 1 meeting holidays to satisfactorily feel refreshed Structuring the environment where new Supporting each other employees can grasp success with by the Team system sales supporting
Slide 16: Amendments to Consolidated Financial Forecasts for the Fiscal Year Ending November 30, 2024
Amendments to Consolidated Financial Forecasts for the Fiscal Year Ending November 30, 2024 (From December 1, 2023 to November 30, 2024) （Millions of yen） Forecast for Forecast for Increase & Deviation FY2024 Q3 FY2024 FY2024 Decrease ratio 【before】 【Amended】 Net sales 401,412 545,000 540,000 -5,000
Slide 17: Change in the Number of Locations
Change in the Number of Locations ■ Change in the number of locations Standalone vehicle purchasing stores （Unit : locations） 160 New vehicle dealerships Used car dealerships 140 124 125 128 121 122 120 100 100 80 76 55 56 60 49 51 51 48 48 48 46 38 40 27 23 21 21 20 0 FY2021 FY2022 FY2023 FY2024 Q1
Slide 18: Fiscal 2024 Store Opening Plan
Fiscal 2024 Store Opening Plan Difference Fiscal 2024 store The beginning End of fiscal Change in opening plan of fiscal 2024 Q1 Q2 Q3 Q4 2024 fiscal 2024 from initial plan Medium-sized Integrations dealerships 24 & -1 -1 -1 21 -3 -2 Store-type storefronts storefront storefront storefront storefront
Slide 19: Contents
Contents １．Result overview ２．Reference Information 19
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet ■ Consolidated balance sheet （situations of assets and liabilities） As of the end of fiscal 2024 Q3 (Millions of yen) As of the end of fiscal 2023 (Millions of yen) Current assets Current Current assets Current 流動負債 124,910 liabilities liabilities 108,589 58,556 61,582 (Ca
Slide 21: Comparison in Existing-Stores
Comparison in Existing-Stores YoY comparison on existing-store basis (quarterly) (¥ million, %) YoY comparison on existing-store basis (quarterly) (¥ million, %) Net sales Q1 Q2 Q3 Q4 Operating income Q1 Q2 Q3 Q4 FY2019 43,534 50,191 49,795 50,623 FY2019 1,934 2,504 2,292 1,810 Fiscal 2020 FY2020 41
Slide 22: Comparison in New Stores
Comparison in New Stores New store openings (¥ million, %) New store openings (¥ million, %) Net sales Q1 Q2 Q3 Q4 Operating income Q1 Q2 Q3 Q4 Quarter 16,842 13,090 13,900 12,535 Quarter 0 -38 871 809 Fiscal 2020 Cumulative 16,842 29,932 43,832 56,367 Fiscal 2020 Cumulative 0 -38 833 1,641 YoY 133.
Slide 23: Details of Net Sales
Details of Net Sales Car sales-related (¥ million, %) Maintenance-related (¥ million, %) Net sales Q1 Q2 Q3 Q4 total Net sales Q1 Q2 Q3 Q4 total (1) Fiscal 2019 39,227 44,344 44,182 43,577 171,330 (1) Fiscal 2019 1,378 1,543 1,634 1,942 6,497 (2) Fiscal 2020 46,855 41,356 47,940 41,807 177,958 (2) F
Slide 24: Changes in Quarterly Results
Changes in Quarterly Results （Unit： Million yen） Consolidated Q1 Q2 Q3 Q4 Full year statements of income Fiscal 2022 Fiscal 2023 YoY Fiscal 2022 Fiscal 2023 YoY Fiscal 2022 Fiscal 2023 YoY Fiscal 2022 Fiscal 2023 YoY Fiscal 2022 Fiscal 2023 YoY Net sales 81,507 117,937 44.7% 100,825 111,890 11.0% 10
Slide 25: Company Overview
Company Overview • Company name NEXTAGE Co., Ltd. • Address 14F, Meiji-Yasuda Life Insurance Nagoya Building, 1-1, Shinsakaemachi, Naka Ward, Nagoya, Aichi Prefecture, 460-0004, Japan • Businesses Sales of new and used vehicles, automobile maintenance, purchases of used vehicles and an insurance age