Bic Cameras Inc. · TSE:3048
Bic Cameras — Bic Camera — H1 FY2023/08 Earnings Presentation
39 slides from Bic Cameras's earnings presentation, Apr 18, 2023
Slide 1: Financial Results Briefing FY2023/08 First Half
Financial Results Briefing FY2023/08 First Half (September 1, 2022 to February 28, 2023) April 18, 2023 （Tokyo Stock Exchange, Prime Market：3048） （Tokyo Stock Exchange, Prime Market ：7513）
Slide 2: Financial Results Briefing materials
Financial Results Briefing materials 1. 2.
Slide 3: Kojima: Purpose, Yuji Nakazawa
（Tokyo Stock Exchange, Prime Market ：7513） Purpose To be a company that supports everyday living by providing consumer electronics with a view toward the creation of a bright and happy future full of smiles Yuji Nakazawa Representative Director and President
Slide 4: Kojima Financial Results Highlights (FY2023 1H)
〈Kojima〉 Financial Results Highlights (FY2023 1H) FY2022 1H FY2023 1H (Sep. 2021 – Feb. 2022) (Sep. 2022 – Feb. 2023) (million yen, %) Amount % to sales Amount % to sales YoY Forecast Net sales 138,516 － 136,945 － 98.9 138,900 Gross profit 37,540 27.1 35,955 26.3 95.8 27.3％ SG&A expenses 32,781 23.7
Slide 5: Net sales/Gross profit (i)
〈Kojima〉 Net sales/Gross profit (i) Factors for increase/decrease （billion yen） Quarterly changes by channel Before COVID-19 After COVID-19 From March 2020 Teleworking- related demand Corporate Stay-at-home demand Stores customer (Including corporate ＥＣ business Demand related to customer) 85 the gr
Slide 6: Net sales/Gross profit (ii)
〈Kojima〉 Net sales/Gross profit (ii) Ratio of product lines to net sales by channel （％：Ratio to net sales） Products with Products with low gross POS base high gross margins margins Corporate customer Stores EC business (offices) Stores Corporate customer (Including corporate ＥＣ business customer) (o
Slide 7: Operating profit
〈Kojima〉 Operating profit Factors for increase/decrease Changes in operating profit 1H （billion yen） （billion yen） vs FY22 (2.2) Decline in the gross profit ratio Increase in SG&A expenses Operating Operating profit (1.6) profit margin +0.6 50 45 (0.4) 3.5% 4.7 6.0 3.4% 3.6% 40 (1.2) 35 *Include uti
Slide 8: Initiatives in the 2H (Securing Operating Profit)
〈Kojima〉 Initiatives in the ２H (Securing Operating Profit) Sales from Increasing efforts to attract customers demonstration sales and improve sales capabilities Weeks with demonstration Enhancement of customer service skills and Vs weeks with no specialization demonstration 1. Tapping into pent-up d
Slide 9: Initiatives in the 2H (Expanding Growth Areas)
〈Kojima〉 Initiatives in the ２H (Expanding Growth Areas) Changes in housing Enhancement of （billion yen） 9 equipment sales 百万 the housing equipment business 8 7 Promotion of the renewable energy 6 business 5 1. Increase sales by establishing a new call center 4 3 2. Strengthen collaboration with part
Slide 10: Initiatives in the 2H (The Environment and Society)
〈Kojima〉 Initiatives in the ２H (The Environment and Society) Improvement of Employee Engagement Promoting health and productivity management 1. Hold walking events for personnel with managerial positions 2. Provide workshops for personnel in charge of the promotion of health and productivity managem
Slide 11: Earnings Forecast for FY2023
〈Kojima〉 Earnings Forecast for FY2023 Full-year Second half-year (million yen, %) FY2022 FY2023 FY2023 FY2022 FY2023 FY2023 Previous vs. Previous vs. Amount Forecast YoY Previous Amount Forecast YoY Previous forecast forecast forecast forecast Net sales 279,374 285,200 277,900 99.5 97.4 140,857 146,
Slide 12: Purpose, Toru Akiho
（Tokyo Stock Exchange, Prime Market ： 3048） Purpose To serve customers as a purchasing agent that provides helpful support for their lives Toru Akiho Representative Director and President
Slide 13: Financial Results for the First Half of FY2023/8
1. Financial Results for the First Half of FY2023/8 2. Earnings Forecast for FY2023/8 3. Important Management Issues
Slide 14: Non-Consolidated Financial Results Highlights
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Non-Consolidated〉 Financial Results Highlights FY2022 1H FY2023 1H (Sep. 2021 – Feb. 2022) (Sep. 2022 – Feb. 2023) (million yen, %) Amount % to sales Amount % to sales YoY Forecast Net sales 202,817 100.0 211,968 100.0 104.5 20
Slide 15: Non-Consolidated Net sales
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Non-Consolidated〉 Net sales Change factors in non-consolidated net sales (YoY) Corporate customers （3.1） ＥＣ billion yen Inbound (Physical stores) ＋12.3 billion yen Domestic demand (Physical stores) FY22/8 FY23/8 202.8 211.9 bil
Slide 16: Gross profit / SG&A expenses
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Non-Consolidated〉 Gross profit / SG&A expenses FY2022/8 FY2023/8 Change Gross profit margin 25.3% 25.0% （0.3）Point (Excluding wholesale sales and consideration of the provision of services) 48.3 50.1 billion yen billion yen SG&
Slide 17: Consolidated subsidiaries
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Consolidated subsidiaries Nippon BS Sofmap Broadcasting Ranet (million yen, %) (Non-consolidated) FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 YoY YoY YoY 1H 1H 1H 1H 1H 1H Net sales 19,419 20,363 104.9 5,820 5,720 9
Slide 18: Consolidated Financial Results Highlights
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Financial Results Highlights FY2022 1H FY2023 1H (Sep. 2021 – Feb. 2022) (Sep. 2022 – Feb. 2023) (million yen, %) Amount % to sales Amount % to sales YoY Forecast Net sales 392,360 100.0 407,653 100.0 103.9 407,00
Slide 19: Consolidated Operating profit
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Operating profit 18
Slide 20: Consolidated Balance Sheet
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Balance Sheet As of As of Increase / As of (million yen) Aug 31, 2022 Feb 28, 2023 Decrease Feb 28, 2022 Total current assets 252,258 260,869 8,610 259,459 Cash and deposits 91,081 74,815 (16,266) 92,304 Merchandi
Slide 21: Cash flow statement
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Cash flow statement (million yen) FY2022 1H FY2023 1H (Sep. 2021 – Feb. 2022) (Sep. 2022 – Feb. 2023) Cash flows from ・Increase in inventories (14,650) operating 5,530 (13,209) FY2022 1H : (3,885) → FY2023 1H : (1
Slide 22: Sales by Product line
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) 〈Consolidated〉 Sales by Product line FY2022 1H FY2023 1H (Sep. 2021 – Feb. 2022) (Sep. 2022 – Feb. 2023) (million yen, %) Amount Composition Amount BicCamera Kojima Composition YoY ratio ratio Amount YoY Amount YoY Audio visual
Slide 23: Monthly Sales (YoY, POS base)
1. Financial Results for the First Half of FY2023 (Sep.2022 – Feb.2023) Monthly Sales (YoY, POS base) First Half (6 months) BicCamera (All stores) BicCamera: 103.8％ Kojima: 98.1% 1Q (3 months) 2Q (3 months) Kojima (All stores) BicCamera: 104.0％ BicCamera: 103.6％ （%） Kojima: 101.3% Kojima: 95.5% 150
Slide 24: Earnings Forecast for FY2023/8
1. Financial Results for the First Half of FY2023/8 2. Earnings Forecast for FY2023/8 3. Important Management Issues
Slide 25: Non-Consolidated Earnings Forecast for FY2023
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Non-Consolidated〉 Earnings Forecast for FY2023 Full-year Second half-year (million yen, %) FY2022 FY2023 FY2023 FY2022 FY2023 FY2023 vs. vs. Previous Previous Amount Forecast YoY Previous Amount Forecast YoY Previous forecast forecast forecast f
Slide 26: Earnings Forecast: Net sales
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Non-Consolidated〉 Earnings Forecast: Net sales Change factors in non-consolidated net sales (YoY) Corporate customers ＥＣ (1.4) billion yen Inbound (Physical stores) ＋26.3 billion yen Domestic demand (Physical stores) FY22/8 FY23/8 405.6 430.5 bi
Slide 27: Earnings Forecast (by company)
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Consolidated〉 Earnings Forecast (by company) Nippon BS Broadcasting Sofmap (Non-consolidated) Ranet (million yen, %) vs. vs. vs. Previous Previous Previous Forecast YoY Previous Forecast YoY Previous Forecast YoY Previous forecast forecast forec
Slide 28: Consolidated Earnings Forecast for FY2023
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Consolidated〉 Earnings Forecast for FY2023 Full-year Second half-year (million yen, %) FY2022 FY2023 FY2023 FY2022 FY2023 FY2023 Previous vs. Previous vs. Amount Forecast YoY Previous Amount Forecast YoY Previous forecast forecast forecast forec
Slide 29: Earnings Forecast: Operating profit
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Consolidated〉 Earnings Forecast: Operating profit 28
Slide 30: Capital Expenditure / Depreciation
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Consolidated〉 Capital Expenditure / Depreciation FY2022 FY2023（Project） Capital Expenditure 12.7 billion yen 10.9 billion yen Previous project 10.0 billion yen ・ IT (EC and efficiency improvements) ・ Stores ・ IT (EC and efficiency improvements)
Slide 31: Return to Shareholders
2. Earnings Forecast for FY2023 (Sep.2022 – Aug.2023) 〈Consolidated〉 Return to Shareholders FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 （Forecast) Total 20 20 13 15 15 15 Dividends per Share 1H 5 10 10 5 5 5 (Yen) 2H 15 10 3 10 10 10 Total cash dividends 3,609 3,543 2,287 2,639 2,580 ー (million yen) P
Slide 32: Important Management Issues
1. Financial Results for the First Half of FY2023/8 2. Earnings Forecast for FY2023/8 3. Important Management Issues
Slide 33: Enhancement of Stores (i): Customer feedback and NPS
3. Important Management Issues Enhancement of Stores (i): Shift to operation with a focus on customer feedback Introduction of the NPS (Net Promoter Score) To increase customer satisfaction and to be the best store in each area, specifically, a store that customers rely on • Operate stores using the
Slide 34: Enhancement of Stores (ii): Sales corners and flagship staff
3. Important Management Issues Enhancement of Stores (ii): Creation of exciting sales corners/increase staff members in flagship stores Strengthening the structure of the Store Renovation Office Experts on the creation of sales floors will continue their efforts to create stores that deserve to oper
Slide 35: Accelerating growth of the EC business (i)
3. Important Management Issues Accelerating growth of the EC business (i): Pursuit of a group of specialty stores with a refined focus Enhancement of product ranges Significant progress in product ranges Number of postings （million SKUs） 3.50 • Number of SKU postings as of February 2023: 2.7 million
Slide 36: Accelerating growth of the EC business (ii): Logistics
3. Important Management Issues Accelerating growth of the EC business (ii): Improvement of logistics functions to support the EC business Response to the 2024 issue Initiatives to address the enforcement of a law related to the streamlining of distribution systems with an eye toward the labor shorta
Slide 37: Strengthening Initiatives to Support the Circular Economy
3. Important Management Issues Strengthening Initiatives to Support the Circular Economy Expansion of the Reuse business (Sofmap and Janpara) Increase of the company's share in the market for reuse, and enhancement of corporate value Initiatives in collaboration with local governments utilizing Raku
Slide 38: Management that places importance on people
3. Important Management Issues Management that places importance on people Increase of wages Changes in wage increases （per person/month, yen) Responded to employee requests with record increases 10,000 for two consecutive years • Increased base-pay an amount that exceeded the previous year's 5,000
Slide 39: Forward-looking statements disclaimer
This document mentions future prospects on our business operations and industry trends based on our current plans, estimates, possibilities or expectations. Expressions of these future prospects are associated with various risks and uncertainties. Already known or unknown risks, uncertainties and ot