Edion Corporation · TSE:2730
Edion — Q1 FY03/21 Earnings Presentation
15 slides from Edion's earnings presentation, Jul 31, 2020
Slide 1: EDION Corporation Analyst Meeting Q1 FY03/21
EDION Corporation Analyst Meeting Q1 FY03/21 July 31, 2020 © EDION Corporation
Slide 2: Greetings & Combating COVID-19
Greetings & Combating COVID-19 We respectfully offer our sympathies to all those affected by the spread of the novel coronavirus disease (COVID-19). Additionally, we would like to express our deepest sympathies to the victims of the torrential rains in July 2020 and wish for the earliest possible re
Slide 3: Q1 FY03/21 Net Sales
Results Q1 FY03/21 Net Sales ● In April, 54 stores were temporarily closed and the Golden Week direct mail sales campaign was cancelled due to the Japanese government’s state of emergency declaration, and POS sales for Edion-owned chains were 87.9% of Q1 FY03/20. ● In May, some temporarily closed st
Slide 4: Consolidated Statements of Income
Results Consolidated Statements of Income Q1 FY03/20 Q1 FY03/21 Million Yen, % % of Q1 % of Q1 Difference % of Sales Results % of Sales Results YoY Change FY03/19 FY03/20 vs. Plan Net Sales 100.0 170,742 108.6 100.0 175,304 102.7 +4,562 +16,608 Gross Profit 29.7 50,749 107.3 30.1 52,765 104.0 +2,015
Slide 5: Net Sales at Edion-Owned Chains (POS Basis)
Results Net Sales at Edion-Owned Chains (POS Basis) Same-Store POS Sales for Edion-Owned Chains (% of Year-Earlier Level) 92.9% of Q4 FY03/19 101.7% of Q1 FY03/20 [Number of Stores Temporarily Closed] May 14: State of emergency lifted in April 08: State of emergency declared in 7 prefectures 39 pref
Slide 6: Net Sales by Product
Results Net Sales by Product POS Sales for Edion-Owned Chains (% of Year-Earlier Level) (%) FY03/20 FY03/20 FY03/20 Q4 FY03/20 FY03/21 FY03/21 FY03/21 Q1 FY03/21 Product Jan. Feb. Mar. (cumulative) Apr. May. Jun. (cumulative) TVs 99.5 116.6 99.4 104.5 105.8 133.2 125.4 121.5 Air Conditioners 71.9 85
Slide 7: Net Sales by Product
Results Net Sales by Product Other Topics • E-commerce sales were strong, driven by stay-home demand. - Q1 FY03/21 POS Sales was 152.0% of Q1 FY03/20 • Demand for a comfortable home environment grew as more consumers stayed at home (figures are based on reported net sales). - Games & Toys: 150.5% of
Slide 8: Factors Affecting Net Sales by Product (YoY Comparisons)
Results Factors Affecting Net Sales by Product (YoY Comparisons) (100 Million Yen) PCs/Peripheral Products +51 Games/Toys +21 Mobile Phones -43 +32 1,753 +18 +3 +45 +10 1,707 -20 TVs +22 Microwaves/Cooking Appliances +9 Video appliances/Cameras -14 Washing Machines/Vacuum Cleaners +2 Air Conditioner
Slide 9: Gross Profit Margin
Results Gross Profit Margin Gross Profit Margin by Quarter Sales Composition Q1 FY03/20 Q1 FY03/21 Audio-Visual Equipment 11.6% 11.9% Home Appliances 12.9% 13.4% (Air Conditioners) Home Appliances (Other) 32.4% 31.7% Information Appliances 14.3% 16.6% (PCs, etc.) Information Appliances 8.7% 5.9% (Mo
Slide 10: SG&A Expenses
Results SG&A Expenses Q1 FY03/20 Q1 FY03/21 Million Yen Difference vs. % of Sales Results % of Sales Results % of FY03/20 YoY Change Plan Total SG&A Expenses 31.4% 53,647 26.9% 47,228 88.0% -6,419 -1,643 Advertising Expenses and 10.2% 17,372 7.2% 12,631 72.7% -4,740 +210 Selling Expenses (Of which,
Slide 11: Consolidated Balance Sheet (Assets)
Results Consolidated Balance Sheet (Assets) Million Yen June 30, 2019 March 31, 2020 June 30, 2020 vs end-FY03/20 YoY Change Current Assets 178,245 153,296 189,210 +35,914 +10,965 Cash and Cash Equivalents 9,639 15,974 26,902 +10,927 +17,262 Accounts Receivable – Trade 38,430 33,666 44,004 +10,337 +
Slide 12: Consolidated Balance Sheet (Liabilities & Net Assets)
Results Consolidated Balance Sheet (Liabilities & Net Assets) Million Yen June 30, 2019 March 31, 2020 June 30, 2020 vs end-FY03/20 YoY Change Liabilities 212,200 169,623 202,343 +32,720 -9,856 Notes and Accounts Payable - Trade 55,154 34,434 64,383 +29,948 +9,228 Short-Term Borrowings 10,060 70 80
Slide 13: Total Asset Turnover & Inventory Turnover
Results Total Asset Turnover & Inventory Turnover Total Asset Turnover Inventory Turnover Q1 FY03/17 Q1 FY03/18 Q1 FY03/19 Q1 FY03/20 Q1 FY03/21 Q1 FY03/17 Q1 FY03/18 Q1 FY03/19 Q1 FY03/20 Q1 FY03/21 • Total Asset Turnover: Steadily improved from Q1 FY03/19 onward. • Inventory Turnover: Greatly impr
Slide 14: Overview of Store Openings
Results Overview of Store Openings Change in the Number of Stores (April 2020 through June 2020) Relocated/ March 2020 Newly Opened Closed Change June 2020 Remodeled Home Electrical 396 3 1 0 +3 399 Appliance Stores Non-Home Electrical 37 0 0 0 +0 37 Appliance Stores Total Edion-Owned 433 3 1 0 +3 4
Slide 15: Consolidated Statements of Income (FY03/21 Plan)
Plan Consolidated Statements of Income (FY03/21 Plan) FY03/20 FY03/21 Million Yen, % % of Sales Results % of FY03/19 % of Sales Plan % of FY03/20 Net Sales 100.0% 733,575 102.1% 100.0% 743,000 101.3% Gross Profit 28.7% 210,605 100.4% 28.7% 213,600 101.4% SG&A Expenses 27.0% 198,321 103.3% 27.0% 200,