Sti Foods Holdings, Inc. · TSE:2932
Sti Foods — FY2023 Earnings Presentation
25 slides from Sti Foods's earnings presentation, Feb 9, 2024
Slide 1: Results Briefing Materials for the Fiscal Year Ended December 31, 2023
Results Briefing Materials for the Fiscal Year Ended December 31, 2023 Standard Market of the Tokyo Stock Exchange (Securities Code: 2932) IR e-mail distribution registration (Japanese only) https://www.magicalir.net/2932/mail/index.php February 9, 2024
Slide 2: Summary of financial results
Summary of financial results 1
Slide 3: Trends in full year results
Trends in full year results Profit increased to overcome the increase in raw materials and other costs because the sales volume increased as a result of thorough manufacturing of quality products. Net income attributable to owners Net sales Ordinary income of the parent company FYE December 31, 20
Slide 4: Consolidated statement of income
Consolidated statement of income (Unit: million yen) FYE December 31, 2022 FYE December 31, 2023 Results vs. Net sales Results vs. Net sales YoY Change Net sales 27,567 - 31,784 - 115.3% 4,216 Cost of sales 20,178 73.2% 22,952 72.2% 113.7% 2,773 Gross profit 7,388 26.8% 8,831 27.8% 119.5% 1,442 Sell
Slide 5: Consolidated balance sheet and consolidated statement of cash flows
Consolidated balance sheet and consolidated statement of cash flows Consolidated balance sheet (Unit: million yen) As of December 31, As of December 31, YoY Change 2022 2023 Current assets 9,139 10,294 112.6% 1,155 Of which, cash and deposits 2,686 4,046 150.6% 1,359 Non-current assets 4,666 4,807 1
Slide 6: Analysis of changes in ordinary income
Analysis of changes in ordinary income Ordinary income was boosted mainly due to the increase in sales volume. (Unit: million yen) Increase in raw Other material costs (39) New products Increase in Personnel sales volume expenses increase Increase in logistics costs (1,153) (69) Major profit incre
Slide 7: Trends in annual sales volume for daily products
Trends in annual sales volume for daily products Daily products annual sales volume in excess of 100 million items for Seven-Eleven Increase in mainstay products sales volume Development of NB products using variation in raw materials Started daily (Unit: million items) line operation at STI M
Slide 8: Priority measures
Priority measures 7
Slide 9: Priority measures
Priority measures Kansai Plant operation STI Miyagi (Ishinomaki) Ishinomaki Plant ■ Start of operation in 4Q of the fiscal year STI Delica (Shiraoka) Yamatomi Plant ending December 31, 2024 ■ Improvement in logistics efficiency STI Enak (Fukuoka) STI Foods (Funabashi) ■ Extension of sales period in
Slide 10: Priority measures (continued)
Priority measures (continued) ■ Creating a strong corporate Group through contributions to the business from the raw material procurement, manufacturing, and intellectual property departments. Thorough commitment to Enhance and expand Intellectual property rights procuring raw materials manufacturin
Slide 11: Earnings forecast for the fiscal year ending December 31, 2024
Earnings forecast for the fiscal year ending December 31, 2024 10
Slide 12: Trends in results so far and future plans
Trends in results so far and future plans CAGR* from 2019 was 11.4%, with plans to maintain the same growth in the future. *CAGR = Compound Annual Growth Rate/average annual growth rate (Unit: million yen) Net sales Acquire Kansai Ordinary income Plant in July 2024 ２０１９－２０２３ CAGR 11.4% 31,784 Acqu
Slide 13: Full-year earnings forecast for the fiscal year ending December 31, 2024
Full-year earnings forecast for the fiscal year ending December 31, 2024 In the fiscal year ending December 31, 2024, we will focus on start of operation at the new Kansai Plant within the fiscal year and on developing new products based on thorough manufacturing quality in Japan and on proceeding
Slide 14: Shareholder return policy
Shareholder return policy 13
Slide 15: Shareholder return policy
Shareholder return policy In the fiscal year ended December 31, 2023, we plan for dividend of a total of 90 yen with a 20 yen commemorative dividend for our 35th anniversary in addition to the common dividend of 70 yen. In the fiscal year ending December 31, 2024, we have a plan to start interim
Slide 16: Appendix
Appendix 15
Slide 17: Company profile / business description
Company profile / business description Company profile Name of company STI Foods Holdings, Inc. Establishment November 2017 (founded in December 1988) 1-15-14, Minami Aoyama, Minato-ku, Number of Headquarters 283 (including 885 temporary employees) Tokyo employees *As of the end of December 2022, th
Slide 18: Group and production bases
Group and production bases The Group is formed of STI Foods Holdings, six consolidated subsidiaries, one sub-subsidiary and one non-consolidated subsidiary. Overseas Each plant has its own specialties and products, and by combining them, business the manufacturing system can handle any of the th
Slide 19: Strengths of the business: Manufacturing technologies and patents
Strengths of the business: Manufacturing technologies and patents Researching and developing new manufacturing methods and unique marine food products that do not exist in the world using technologies with high barriers to entry Nurture food professionals: Enhance Taking on the challenge of new prod
Slide 20: Strengths of the business: Improvement of taste quality through integrated production
Strengths of the business: Improvement of taste quality through integrated production Thorough temperature control and reduction in the number of thawing cycles in the integrated production (cooking) process to improve the quality of taste Manufacturing process for grilled fish prepared foods Stan
Slide 21: Strengths of the business: Balancing food loss and cost reduction
Strengths of the business: Balancing food loss and cost reduction Reduce raw material costs by thoroughly addressing food loss with a product portfolio that uses up all ingredients. Integrated production system that achieves both deliciousness and reduced raw material costs Procurement Integrated
Slide 22: SDGs initiatives
SDGs initiatives We will reduce the burden on the environment and society in all parts of the value chain, from procurement, processing, distribution, consumption, and disposal, and work to solve social issues through business. Social issues Initiatives Targets Procurement of sustainable raw Respons
Slide 23: SDGs initiative: Promoting the sale of Kinka Canned Mackerel
SDGs initiative: Promoting the sale of Miyagi Prefecture Suisan High School’s Kinka Canned Mackerel Supporting recovery efforts in collaboration with local high school students in Ishinomaki, Miyagi Prefecture, which was severely affected by the Great East Japan Earthquake 2022 - 2023 Project In Jap
Slide 24: SDGs initiative: Formulation of Group Human Rights Policy
SDGs initiative: Formulation of Group Human Rights Policy STI Foods Holdings Group understands and supports the minimum principles and standards that should be adhered to as outlined in the United Nations International Bill of Human Rights and the ILO’s Declaration on Fundamental Principles and Righ
Slide 25: [Precaution]
[Precaution] The forward-looking statements contained in this document are based on management’s assumptions and beliefs in light of the information currently available, and are subject to change due to macroeconomic conditions and industry trends. Accordingly, please be aware that there are risks a