Milbon Co., Ltd. · TSE:4919
Milbon — Q1 2023 Earnings Presentation
23 slides from Milbon's earnings presentation, May 15, 2023
Slide 1: FY2023 First Quarter Financial Results Presentation Materials
Milbon Co., Ltd. FY2023 First Quarter (January 1, 2023 – March 31, 2023) Financial Results Presentation Materials May 15, 2023 © 2023 Milbon Co., Ltd. 0
Slide 2: Table of Contents
Table of Contents P2 Consolidated Operating Results P3 Consolidated Sales by Product Category P13 Consolidated Statement of Earnings P14 Consolidated Trends in Capital Expenditures and R&D Expenses P15 Trends in Fieldpersons (FPs) P16 Consolidated Net Sales in Japan and Overseas P17 Consolidated Ope
Slide 3: Consolidated Operating Results (FY2023 1Q)
Consolidated Operating Results（FY2023 1Q） In Japan, the beauty trend remained unchanged, with our Premium Brands of the hair care products continuing to drive sales growth. Overseas, sales increased due to strong performance in South Korea and the U.S. The gross profit margin declined due to inc
Slide 4: Sales by Product Category [Hair Care Products (1)]
Consolidated Sales by Product Category [Hair Care Products (1)] Consolidated Net Sales (FY2023 1Q) (Unit: million yen) FY2022 FY2023 Increase/ Increase/ 1Q 1Q Decrease Decrease ratio (%) 5,333 5,969 636 11.9 • Premium Brands led the growth in hair care sales with an 18.1% YoY increase. The Hair Care
Slide 5: Hair Care Products (2): New Products FY2023 1Q
Consolidated Sales by Product Category [Hair Care Products (2)] New Products FY2023 1Q Aujua Hair Care Series Inmmetry Line A new line that corrects distortion*1 in the hair and frees from the habit of blow drying and ironing to condition hair, leading to lustrous and manageable hair with just a dry
Slide 6: Hair Care Products (3)
Consolidated Sales by Product Category [Hair Care Products (3)] Elujuda Sun Protect Elujuda’s new sun care products that shield hair from the harmful rays of the sun while maintaining its moisture throughout day. Four items with different forms and usage timings to choose from. (Unit: million yen) F
Slide 7: Premium Brand: Aujua
Premium Brand: Aujua Hair Care Series Inmmetry Line, launched in February, performed well. Number of Salons*1 (Unit: salons) Increase/ Increase/ FY2022 FY2023 Decrease Decrease ratio (%) 6,022 6,216 194 3.2 Consolidated Gross Sales (FY2023 1Q) (Unit: million yen) FY2022 FY2023 Increase/ Increase/ 1Q
Slide 8: Premium Brand: Global Milbon
Premium Brand: Global Milbon Sales grew steadily both in Japan and overseas, especially in the U.S. We are currently reviewing the count of Number of Salons*1 the number of salons, so we have decided not to publish this information at this time. (Unit: salons) Increase/ Increase/ FY2022 FY2023 Decre
Slide 9: Sales by Product Category [Hair Coloring Products (1)]
Consolidated Sales by Product Category [Hair Coloring Products (1)] Consolidated Net Sales (FY2023 1Q) (Unit: million yen) FY2022 FY2023 Increase/ Increase/ 1Q 1Q Decrease Decrease ratio (%) 3,800 3,922 122 3.2 • In Japan, sales of hair coloring products remained steady with a 1.9% YoY increase. The
Slide 10: Premium Organic Brand: Villa Lodola
Premium Organic Brand: Villa Lodola Increase in the number of new touchpoints and "Color Palette" launched last year boosted sales compared to the same period in the previous fiscal year Number of Salons (Unit: salons) Increase/ Increase/ FY2022 FY2023 Decrease Decrease ratio (%) 12,458 12,682 224 1
Slide 11: Sales by Product Category [Cosmetic Products (1)]
Consolidated Sales by Product Category [Cosmetic Products (1)] Consolidated Net Sales (FY2023 1Q) (Unit: million yen) FY2022 FY2023 Increase/ Increase/ 1Q 1Q Decrease Decrease ratio (%) 137 126 (10) (7.7) • The number of touchpoints for introducing makeup items that can coordinate with hair color ha
Slide 12: Cosmetic Products (2): New Products FY2023 1Q
Consolidated Sales by Product Category [Cosmetic Products (2)] New Products FY2023 1Q iMPREA Milky Soufflé UV An airy, soufflé-textured sunscreen cream that blocks powerful ultraviolet rays and protects the skin from damage caused by dryness and other factors to the stratum corneum. (Unit: million y
Slide 13: Premium Brand: iMPREA
Premium Brand: iMPREA The new product performed well, but sales declined slightly YoY Number of Salons*1 (Unit: salons) Increase/ Increase/ FY2022 FY2023 Decrease Decrease ratio (%) 1,601 1,743 142 8.9 Consolidated Gross Sales (FY2023 1Q) (Unit: million yen) FY2022 FY2023 Increase/ Increase/ 1Q 1Q D
Slide 14: Consolidated Statement of Earnings
Consolidated Statement of Earnings <Consolidated Statement of Earnings> (Unit: million yen) <Breakdown of Net Sales by Product Category> (Unit: million yen) Increase/ FY2022 FY2023 Increase/ FY2022 % to FY2023 % to 1Q 1Q % to sales Decrease Decrease ratio (%) 1Q sales 1Q sales Hair care products 5,3
Slide 15: Trends in Capital Expenditures and R&D Expenses
Consolidated Trends in Capital Expenditures and R&D Expenses (Unit: million yen) FY2022 FY2023 Category FY2019 FY2020 FY2021 FY2022 1Q Plan Capital expenditures 1,605 1,917 4,644 4,097 751 2,927 Depreciation and amortization 1,453 1,562 1,777 2,026 542 2,301 Amount 1,534 1,581 1,741 2,074 512 2,372
Slide 16: Trends in Fieldpersons (FPs)
Trends in Fieldpersons (FPs) Fieldpersons Trends (by Country) (Average number of FPs during the period) The number of Fieldpersons reported FY2021 FY2022 FY2023 represents the average number during the period and is not as of January 1. Please JAPAN 328.2 335.4 351.0 note that the calculation method
Slide 17: Net Sales in Japan and Overseas
Consolidated Net Sales in Japan and Overseas FY2023 1Q (Unit: million yen) Increase/ FY2022 FY2023 Changes in local Decrease 1Q 1Q Increase/ currency base*1 ratio Decrease Net sales % to sales Net sales % to sales (%) (%) Consolidated net sales 9,635 100.0 10,340 100.0 705 7.3 5.6 JAPAN 7,249 75.2 7
Slide 18: Operating Income in Japan and Overseas
Consolidated Operating Income in Japan and Overseas FY2023 1Q (Unit: million yen) FY2022 FY2023 Increase/ 1Q 1Q Increase/ Decrease ratio Operating Operating Operating Operating Decrease (%) income income ratio(%) income income ratio(%) Consolidated operating income 1,496 15.5 1,195 11.6 (301) (20.1)
Slide 19: Outlook of Overseas Subsidiaries (1)
Outlook of Overseas Subsidiaries (1) USA (Milbon USA) • Global Milbon continues to achieve significant sales growth in terms of hair care products, thanks to its high-quality products. The Premium Position, which has been launched as the luxury brand called the “Gold Line,” is steadily increasing it
Slide 20: Outlook of Overseas Subsidiaries (2)
Outlook of Overseas Subsidiaries (2) CHINA (Milbon China) • Sales in January plummeted due to the effect of the Lunar New Year break and the spike in COVID-19 cases caused by the backlash of the zero-COVID policy relaxation. However, sales progressed at the planned level from February onward, result
Slide 21: Outlook of Overseas Subsidiaries (3)
Outlook of Overseas Subsidiaries (3) 韓 • SOUTH KOREA (Milbon Korea) • Hair coloring products, which make up more than 70% of total sales, continued to perform well. As future initiatives, the Company plans to strategically capture new young hair stylists with ENOG, which was released in March, and f
Slide 22: Appendix: Hair Care Brand Positioning Map
<Appendix> Hair Care Brand Positioning Map Premium Brands Professional Brands © 2023 Milbon Co., Ltd. 21
Slide 23: Forward-looking statements notice
With respect to the business forecasts included in this document, any statement that is not historical fact is a forward-looking statement based on information available and certain premises that are judged to be rational at the time of the announcement. Please be aware that actual results may diffe