Nextage Co., Ltd. · TSE:3186
Nextage — Q2 FY2022 Earnings Presentation
24 slides from Nextage's earnings presentation, Jul 4, 2022
Slide 1: Fiscal 2022 2nd Quarter Financial Results Presentation
Financial Results Presentation Fiscal 2022 2nd Quarter Financial Results Presentation July 4, 2022 NEXTAGE Co., Ltd. (3186)
Slide 2: Contents
Contents １．Results Overview ２．Reference Information 2
Slide 3: Fiscal 2022 Business Performance (Q2)
Fiscal 2022 Business Performance (Q2) (Millions of yen) FY2022 Q2 Percent of Comparison FY2021 FY2021 FY2022 FY2022 YoY Q1 Q2 Cumulative net sales with plan Q3 Q4 Net sales 182,332 100.0％ 131.0％ 48.0％ 72,861 79,170 81,507 100,825 Gross profit 33,480 18.4％ 127.2％ － 14,544 15,868 15,694 17,786 Operati
Slide 4: The Effects of Changes in Accounting Principles
The Effects of Changes in Accounting Principles (Millions of yen) Q2 Results FY2022 Q2 FY2021 Q2 （Before Changes in Cumulative Cumulative Accounting Principles） Net sales 182,332 184,307 139,231 Gross profit 33,480 35,454 26,318 Gross profit margin 18.4％ 19.2％ 18.9％ Operating income 9,151 9,045 6,34
Slide 5: Market Environment in Fiscal 2022
Market Environment in Fiscal 2022 ■ Used car registrations (December 2021 to May 2022) Results Results Comparison Results Comparison Number of units in FY2022 in FY2021 with FY2021 in FY2020 with FY2020 Ordinary passenger cars 1,298,595 1,410,315 92.1％ 1,329,735 97.7％ Kei (light) cars 1,496,135 1,63
Slide 6: FY2022(Q2) Comparison of Existing-stores
FY2022(Q2) Comparison of Existing-stores ■ Changes in net sales, gross profit and operating income of existing-stores Net Sales Gross Profit Operating Income (Millions of yen) (Millions of yen) (Millions of yen) YoY YoY YoY 15,000 110.7% 113.2% 127.3% 150,000 144,187 30,000 130,249 25,752 10,568 22,
Slide 7: Monthly Retail Sales Volume in Fiscal 2022
Monthly Retail Sales Volume in Fiscal 2022 (Number of units) ■ Monthly retail car sales volume and YoY comparison 12,000 11,450 10,916 Comparison with plan：49.5％ 11,000 10,715 （FY2022 forecast：114,000 vehicles） 10,000 8,287 8,511 9,000 9,113 8,000 6,524 8,482 7,640 7,812 7,000 6,931 7,056 7,145 6,00
Slide 8: Changes in Key KPI Status
Changes in Key KPI Status Retail car sales Vehicle purchases (Number of units) (Number of units) 60,000 56,403 80,000 45,334 66,162 45,000 60,000 34,514 YoY 30,000 YoY 40,000 15,000 124.4％ 20,000 191.7％ 0 0 FY2021 Q2 FY2022 Q2 FY2021 Q2 FY2022 Q2 cumulative cumulative cumulative cumulative Vehicle s
Slide 9: Change in the Number of Locations
Change in the Number of Locations ■ Change in the number of locations Revised FY2022 store opening plan upward from Q1 due to planned increase in standalone vehicle （unit：locations） purchasing stores and medium-sized stores Standalone vehicle purchasing store 110 102 New vehicle dealership 90 Used c
Slide 10: Gross Profit Margin and SG&A Expenses Analysis
Gross Profit Margin and SG&A Expenses Analysis ■ Changes in gross profit margin and selling, general and administrative expenses (consolidated) Gross Profit Margin Selling, general and administrative expenses 20.0% 20.0% 20.0% 19.4% 19.3% 18.5% 18.2% 17.6% 18.0% 4.7% 5.4% 16.0% 15.4% 4.7% 15.0% 15.2
Slide 11: Analysis of Gross profit margin decline
Analysis of Gross profit margin decline ■ Changes in average retail vehicle price ■ Profit per vehicle of AA sales (Excluding new car dealer stores) （Excluding new car dealer stores） （thousands of yen） （thousands of yen） 2,050 110 1,950 80 1,850 50 1,750 20 FY2020 FY2021 FY2021 FY2022 FY2022 FY2022
Slide 12: Gross Profit Analysis(Effect of Retail Sales)
Gross Profit Analysis(Effect of Retail Sales) ■ Profit per vehicle of retail unit ■ Changes in inventory turnover days by quarter (Excluding 130% new vehicle dealerships) （Day） FY2021 120.3% 47.9 FY2022 120% 118.7% 45.1 41.8 41.7 112.6% 41.0 40.5 110% ※comparison based on profit per vehicle of FY202
Slide 13: Revision of Consolidated Earnings Forecast
Revision of Consolidated Earnings Forecast (Millions of yen) FY2022 FY2022 deviation FY2022 FY2022 deviation plan plan Q2 plan Q2 result ratio （previous） （revision） ratio Net sales 166,000 182,332 ＋9.8％ 350,000 380,000 ＋8.6％ Operating income 8,400 9,151 ＋8.9％ 17,500 19,150 ＋9.4％ Ordinary income 8,20
Slide 14: Reference Information(FY2022 Store Opening Plan)
Reference Information(FY2022 Store Opening Plan) Fiscal 2022 Store The Beginning End of Change in opening Plan of Fiscal 2022 Q1 Q2 Q3 Q4 Fiscal 2022 Fiscal 2022 Medium-sized New store 18 openings 2 1 1 1 23 +5 dealerships Store-type (Japanese cars) storefronts Changings storefronts storefront store
Slide 15: FY2022 Difference in Store Opening Plans
FY2022 Difference in Store Opening Plans ■ Difference in store opening plans ■ New plans between the end of Q1 and Q2 Q1 plan Store type Opening area Revised plan Opening Category Store type Plan area Jul. General store Tokai-Hokuriku Aug. Medium-sized Tokai- Aug. General store Kanto-Koshinetsu Sep.
Slide 16: Industry Trends
Industry Trends ■ Average ownership years （new vehicle, household of two or more） （unit：year） 10 9.5 9.2 Longer ownership 9 8.8 8.9 periods increased 8.5 the needs for services related to ownership, such as vehicle 8 7.5 inspections and 7 maintenance. 6.5 6 2013 2014 2015 2016 2017 2018 2019 2020 20
Slide 17: Contents
Contents １．Results Overview ２．Reference Information 17
Slide 18: Reference Information(Consolidated Balance Sheet)
Reference Information(Consolidated Balance Sheet) ■ Balance sheet （situations of assets and liabilities） As of the end of fiscal 2022 Q2 （millions of yen) As of the end of fiscal 2021 （millions of yen) Current assets Current Current assets Current liabilities liabilities 89,510 74,865 28,012 38,202
Slide 19: Reference Information(Comparison in Existing-Stores)
Reference Information(Comparison in Existing-Stores) YoY comparison on existing-store basis (quarterly) (¥ million, %) YoY comparison on existing-store basis (quarterly) (¥ million, %) Net sales Q1 Q2 Q3 Q4 Operating income Q1 Q2 Q3 Q4 FY2017 25,392 30,324 26,743 28,527 FY2017 1,063 1,426 1,466 1,52
Slide 20: Reference Information(Comparison in New Stores)
Reference Information(Comparison in New Stores) New store openings (¥ million, %) New store openings (¥ million, %) Net sales Q1 Q2 Q3 Q4 Operating income Q1 Q2 Q3 Q4 Quarter 6,068 5,571 6,346 10,132 Quarter 77 118 143 186 Fiscal 2018 Cumulative 6,068 11,639 17,985 28,117 Fiscal 2018 Cumulative 77 1
Slide 21: Reference Information(Breakdown of Net Sales)
Reference Information(Breakdown of Net Sales) Car sales-related (¥ million, %) Maintenance-related (¥ million, %) Net sales Q1 Q2 Q3 Q4 total Net sales Q1 Q2 Q3 Q4 total (1) Fiscal 2017 22,715 25,862 25,121 25,223 98,923 (1) Fiscal 2017 486 586 663 806 2,542 (2) Fiscal 2018 28,842 33,691 31,975 34,0
Slide 22: Reference Information(Changes in Quarterly Results)
Reference Information(Changes in Quarterly Results) （unit：million yen） Consolidated Q1 Q2 Q3 Q4 Full year statements of income Fiscal 2020 Fiscal 2021 YoY Fiscal 2020 Fiscal 2021 YoY Fiscal 2020 Fiscal 2021 YoY Fiscal 2020 Fiscal 2021 YoY Fiscal 2020 Fiscal 2021 YoY Net sales 61,694 63,129 2.3% 54,0
Slide 23: Notices
Notices The distribution of the IR E-magazine The Company will distribute in a timely manner a variety of IR information to those people who register their email addresses on the Company website for its IR E-magazine. This initiative is intended to help people to understand the Company better, and a
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