Nextage Co., Ltd. · TSE:3186
Nextage — Q1 FY2024 Earnings Presentation
24 slides from Nextage's earnings presentation, Apr 1, 2024
Slide 1: Fiscal 2024 1st Quarter Financial Results Presentation
Financial Results Presentation Fiscal 2024 1st Ｑｕａｒｔｅｒ Financial Results Presentation April 1, 2024 NEXTAGE Co., Ltd. (3186)
Slide 2: Contents
Contents １．Results Overview ２．Reference Information 2
Slide 3: Fiscal 2024 Business Performance (Q1)
Fiscal 2024 Business Performance (Q1) （Millions of yen） Percent FY2024 Q1 Comparison FY2023 FY2023 FY2023 FY2023 FY2024 of net YoY cumulative with plan 1Ｑ 2Ｑ 3Ｑ 4Ｑ 1Ｑ sales Net Sales 119,457 100.0％ 101.3％ 21.9％ 117,937 111,890 119,396 114,241 119,457 Gross Profit 21,201 17.7％ 119.9％ － 17,680 23,970
Slide 4: Market Environment (the Number of Car Registrations)
Market Environment (the Number of Car Registrations) ■ Used car registrations （December 2023 to February 2024） Results Results Comparison Results Comparison Number of units in FY2024 in FY2023 with FY2023 in FY2022 with FY2022 Ordinary passenger cars 617,974 557,090 110.9% 587,968 105.1% Kei (light)
Slide 5: Market Environment (Change in Market Price of AA in Japan)
*1 Market Environment （Change in Market Price of AA in Japan） ■ 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% Mar. 2023 Apr. 2023 May 2023 Jun. 2023 Jul. 2023 Aug. 2023 Sep. 2023 Oct. 2023 N
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) 16,017 15,458 14,100 14,901 15,000 14,536 11,803 12,592 13,000 11,009 13,792 12,329 14,511 11,450 13,410 11,694 10,914 11,000 10,715 11,551 11,105 10,662 10,844 10,916 9,911 9,821 9,000
Slide 7: Changes in Key KPI Status
Changes in Key KPI Status Retail car sales Vehicle purchases （Number of units） （Number of units） 41,126 59,996 40,000 35,520 50,000 43,157 YoY YoY 115.8％ 139.0％ 20,000 25,000 0 0 Fiscal 2023 Q1 Fiscal 2024 Q1 Fiscal 2023 Q1 Fiscal 2024 Q1 Vehicle safety inspections Retail car sales at AA （Number of
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 YoY YoY 00 69,201 67,897 35,874 34,600 98.1％ 103.7％ Gross profit Gross profit 9,683 10
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 Medium-Term Selling, general and administrative expenses ratio Management Plan 22.0% 21.4% 20.9% Operating income margin 20.
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 body 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 FY2022 FY2
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 35.0 50.6 56.6 38.9 38.6 57.0 50% 36.5 37.2 45.5 37.4 30.5 31.8 0% Q1 (Dec.-Feb.) Q
Slide 14: Operating Income Analysis
Operating Income Analysis (Millions of yen) YoY＋25.0％ The number of stores at the end of Q1 +47 storefronts YoY ＋24.8％ YoY ＋20.9％ YoY＋17.8％ The number of purchased vehicles YoY＋39.0％ 2,215 1,769 The number of retail sales YoY＋15.8％ 14
Slide 15: Changes in Profit per Vehicle & Number of Units in Internal Circulation
Changes in Profit per Vehicle & Number of Units in Internal Circulation ■ Units of Internal Circulation of purchased cars ■ Changes in profit per unit at used vehicle and changes in percentage of purchased cars dealerships in our inventory （Number of units） （％） 10,000 80.0 100% 5,000 60.0 0 40.0 50%
Slide 16: 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 140 131 121 122 120 100 100 80 76 60 51 55 49 46 46 38 40 27 23 21 21 20 0 FY2021 FY2022 FY2023 FY2024 Q1 FY2024 plan 124 locat
Slide 17: 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 2023 Q1 Q2 Q3 Q4 2024 fiscal 2024 from initial plan Medium-sized 24 -1 23 -1 - dealerships Integrations (Japanese cars) storefronts storefront storefronts storefront storefront 80
Slide 18: Contents
Contents １．Result overview ２．Reference Information 18
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet ■ Consolidated balance sheet （situations of assets and liabilities） As of the end of fiscal 2024 Q1 (Millions of yen) As of the end of fiscal 2023 (Millions of yen) Current Current assets Current liabilities Current assets 流動負債 123,690 liabilities 108,589 69,723 58,556 (Ca
Slide 20: Comparison in Existing-Stores
Comparison in Existing-Stores * Data are on a non-consolidated basis. 20
Slide 21: Comparison in New Stores
Comparison in New Stores * Data are on a non-consolidated basis. 21
Slide 22: Details of Net Sales
Details of Net Sales * The above figures are sales figures for each quarter (3-month periods) of each category. * Data are on a non-consolidated basis. 22
Slide 23: Changes in Quarterly Results
Changes in Quarterly Results （Unit： Million yen） 23
Slide 24: 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