Zozo, Inc. · TSE:3092
Zozo — Start Today Co.,ltd. — Q3 FY2017 Earnings Presentation
41 slides from Zozo's earnings presentation, January 2018
Slide 1: START TODAY CO.,LTD.
g START TODAY CO.,LTD. RASHAZ—hhoF1 2018%3AH BSH RAMBSAH
Slide 2: FY2017 3Q Highlights
18/03H43Q /\f 77 & FY2017 3Q HIGHLIGHTS 01 Ea + aR OCCA (AIAERIHALS3.0%38) | SSRFIR235(A ((22.1%i#) > BmMRSRAWRP SL, BURR tH SRAIAER *ZOZOTOWNS3€ MicnRS 1,915.0f8F) (AiAERIHAL34.0%#) BtyayT7 1,800.08) ((134.8%3#) BWYav7 1.2(8FA (110.9% ik) ZOZOUSED 113.718F) (1122.7%38) MiB 4,858) (7.2% i) . WE 9,04
Slide 3: 業績 Business Results
Slide 4: Overview of the FY2017
18/03H4 SQ3its Ria WR OVERVIEW OF THE FY2017 3 03 (40: BF) RB 17/03#8 30 4 | 18/0318 30 2H EBLE at ia EPS Ma 148,090 196,987 33.0% 270,000 73.0% che 53,694 70,915 32.1% 100,000 70.9% Te LMF EE 48,659 65,575 34.8% - - at HURL 12.0% -1.0% - fe Fz 23,600 21.4% 73.8% aire 16,285 15.4% 13.4%
Slide 5: Overview of Each Quarter
Hie mOWR (Fe) OVERVIEW OF EACH QUARTER 04 (ft | BAF) 17/03#8 18/03#4 ag ime | omen | omen | same | sim Re Eaea Exaea 59,574 | 60,082 | 77,331 40.9% | 35.9% | 25.5% be 15,386 | 16,180 | 22,127 | 22,699] 21,451 | 21,242 | 28,220 RSH 8,788 9,228 | 11,350 | 13,561} 11,863 | 13,684 | 16,476 Bi Efe) BAL 3
Slide 6: Increase-Decrease Analysis of Operating Profit (YoY)
BRANROW MAA (Ata HLL) INCREASE-DECREASE ANALYSIS OF OPERATING PROFIT (YoY COMPARISON) Pico +63.618 Baik eared +8.4fi8 memaiams | CO CEM) pyar +15.8f8 -13.5f8 A ; RULE BOM On AAR 14.318 "RRL OBIE ewe — 15.01% + AKERS 17/03#83Q : 1,480 18/03#13Q : 1,969 EO —2.AE 05 eae BRA ses > 2as.it 192.9f8 (#8) ~=
Slide 7: Consolidated Balance Sheet
te AA BOA RE CONSOLIDATED BALANCE SHEET 06 (tt : BFS) SBE SE MSR OU HA SRE SE 4 BQO HA Cor7ecnaie) |p ckANR Gor7eoncin) | Rate RHE 45,641 50,572 tS 8 23,906 26,586 36, BRE 22,068 15,579 | 35. Siteiciy 11,536 15,842 96, Him 1,177 2,177 Hest 1,945 2,088 HEese 10,079 15,201 Btadat 25,851 28,675 ARHERE
Slide 8: ROE and Net Profit Margin
ROEO HES - 4HARFIZSS WER) ROE AND NET PROFIT MARGIN 70% 60% 50% 40% 30% 20% 10% 0% ROE © 4eAMFIZSSe Oa) 55.5% 72.7% 61.4% co) 08/03 09/03 10/03 11/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 (sti) 07 10% 9% 8% 7% 6% 5%
Slide 9: Transaction Value
inn Ria O Hee TRANSACTION VALUE 3,000 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 SHH sat *ZOZOTOWNSS (AMY ay7- Sityay 7) JUVEE BtoB se {9 ZozouseD | | BMYav7 | | Rtyav7 1,146.7 958.9 18.4% . 2.0% 802.4 bee je 4.7% 01% MM s5% i 12.8% 9 78.1% 79.1% oe 1% SQRat 60.27 Mian (
Slide 10: Transaction Value (Quarterly)
JU Bion Mike OEE ( TRANSACTION VALUE (QUARTERLY) = HA) iii 35 Pal RAL 900 +25.5% TUVER 800 BtoB## {i zozouseD 700 Manysa7 615.9 640.0 SHY ay . 0.4% Misty sy7 0.4% faa 2.7% 595.7 600.8 ; 90.8% 600 mmo” 5.6% 0.1% ofr 6% 6.7% oi% Mi27% meee i : 500 475.5 one a 445.2 0.2% 442.1 ; 6.7% 5.7% 422.8 0.4% 90
Slide 11: Net Sales
sTLAORE 10 NET SALES 110,000 4th 100,000 sy THE _ ' I 90,000 BtoBs ae H i WW zozoused 70,91 5 80,000 || BRYav7 76,393 Betys,7 6731 70,000 é ws 1,338 0 60,000 54,429 os Oo | , 11,370 3,192 193 50,000 : “ on 38,580 “41-182 ee 40,000 35,050 1573 1,766 toa 31,806 389 1973 ary 30,000 2602 [om 2976 Mam 2.
Slide 12: Net Sales (Quarterly)
TlLaOHKE (B NET SALES (QUARTERLY) Bi FPSB He +27.5% 30,000 4th TUVER an3 BtoB 0 25,000 494 | ZOZOUSED 22.127 22,699 4812 rm s7 1,697 1.846 21,451 21,242 0) 2,054 1,72 20000 | Qi stva7 325 260 0 0 37 atta 3,605 330 336 16,671 ; 3,257 6.6 16,180 48 3.301 15,333 1,136 19,386 668 30 ts 43 15,000 799 a:
Slide 13: Operating Profit and Operating Profit Margin
BRtlat : SRNR ORME) ORB OPERATING PROFIT AND OPERATING PROFIT MARGIN 1 2 35,000 20.0% Yee SAK (%) (MR REURS) Pot 30,000 H ! 26,284 93 551 16.0% 25,000 LJ ! i ry 12.4% 12.0% , 11.7% 11.1% oom 20,000 10.8% 9.6% 17,756 8.0% 15,084 15,000 12,388 8.0% 10,000 7,704 88529 4.0% 5,000 (BAR) ie) 0.0% (A) = 12
Slide 14: SG&A Expenses
AR BO AER SELLING, GENERAL AND ADMINISTRATIVE (SG & A) EXPENSES 13 (Str | AAA) 17/03#A 3Q 18/03#A 3Q BUF IRBLE me 2h TTAB Le 2h WWRIRBLE | WHR Le lial Athi 7,791 | 5.3% | 9,230 | 4.7% | 0.6% | ttmanceuneo seeman<me mene 6,233 | 4.2% | 9,831 | 5.0% | 0.8% | #uiBox® 2o17z9A~) KemMeeH | 3,729 | 2.5% |
Slide 15: Operating Profit and Margin (Quarterly)
[Ie BRASS BRAN (NM MRS) ORB (AER) OPERATING PROFIT AND OPERATING PROFIT MARGIN (QUARTERLY) 14 Bi Tel He +11.7% BM Sxl 9,000 ERA (%) (WHER) 8,703 7,981 8,000 6,992 7,000 6,011 5,850 6,000 5,576 5,011 5,000 4,735 14.1% L | 13.4% 4000 | 3,733 12.6% 1 s 6% 11.9% 3,276 10.6% 120% 10.9% 10% 3,000 11.2% 92
Slide 16: SG&A Expenses (Quarterly)
ARS ROHS (MOH) SELLING, GENERAL AND ADMINISTRATIVE (SG & A) EXPENSES (QUARTERLY) 1 ts) 18,000 20% Mi Ren (m+) 16,476 16,000 JOt-Y 3 -MeRS Oem) 13,561 13,684 16% 14,000 ‘2.000 11.350 11,863 12% 10,000 9,193 9,236 8,788 8,000 7,444 6,453 8% 6,000 4,000 4% Y 3.7% 1.9% 0% GM 16/03 B1Q 16/03#%2Q 16/03%83
Slide 17: Overview of SG&A by Each Quarter
FRE BOAER (MH) OVERVIEW OF SG & A BY EACH QUARTER 1 6 (| BD) 17/038 18/03#8 Paes: Bom He Bout HA Fao HA Paes: Bom He Bom HA ale 2h bor iet tad 2h Son et tad 2h WERE Lt 2h bor et tad 2h bor iet tad 2h Son et tad 2h WERE Lt] MER 2,472 | 5.8% | 2,383 | 5.4% | 2,935 | 4.8% | 2,845 | 4.4% | 2,896 | 4.9%
Slide 18: Number of Total Buyers
elie AB aX NUMBER OF TOTAL BUYERS 17 8,000,000 ERB ABMSBA1 ELIA IEMA LEP IF 14 TSBMETA MBABOSHAM 7,205,777 TA bBAFB-SBSRt TDF BA LAI -— 7HAER =) SBR si io4 ls aoe 6,963,986 7,000,000 POF 1 FRBBHBA FAC BLE A LES BM 6,734,740 BR BABB 6,324,033 6,000,000 | | PIT1 TSAR 5,783,381 2,247,916 2,372,969 5,25
Slide 19: Number of Shops
ZOZOTOWN# NUMBER OF SHOPS O Ha Yay TROT N ZOZOTOWN 18 1200 oe 1,094 BtyayvT 6 gg7 1,018 1,000 934 954 8 7 7 esq 887) gan 872 24 10 800. 720 28 685 26 27 600. 1,088 1,009 aos 927 947 979 400 811 843 832 658 694 200 (vav7) ie) GH) 16/03 381Q 16/03 #2Q 16/03 #3Q 16/03 #4Q 17/03 #1Q 17/03 #2Q 17/03 #3Q
Slide 20: Active Member Distribution
PIT 4 SABIE ACTIVE MEMBER DISTRIBUTION 1 9 B Sxtt Bb BFR 250,000 AbBi3.5% AM + PBB 8.9% Mt RALS.5% 200,000 "PE - PUB 7.7% 150,000, BIE 40.9% (FER17.3%) 100,000 50,000 ALBEE 5.8% 0 |
Slide 21: Annual Purchase Amount and Pieces per Active Member
PITF(FISRIASEW OFRBASH - FHA RE ANNUAL PURCHASE AMOUNT AND PIECES PER ACTIVE MEMBER 20 50,000 14 ERAS OFRBA RH 48,000 48,644 48,556 46,707 47,937 48,275 wie 13 46,000 47,140 46,417 , 46,818 46,135 44,000 12 44,279 11.0 42,000 ; 10.7 10.9 1 40,000 10 38,000 36,000 3 34,000 8 32,000 (Fa) (58) 30,000 7
Slide 22: Annual Purchase Amount per Existing Active Member
BEEP 77 4 TSRIA SEV OPBBA SE - FRA RE ANNUAL PURCHASE AMOUNT AND PIECES PER EXISTING ACTIVE MEMBER 21 18 BE? 751 TSB SRB SO 1 EDERAL THSTIT1IE 66,000 FRBALH O@FMBA RR 64,290 17 64,000 63,004 62,761 16 61,770 “000 60,929 , 14.6 15 60,106 14.5 60,000 14 58,000 13 56,000 12 54,000 "1 52,000 10 (Fa) (#8
Slide 23: Number of Shipment
HER OIE 22 NUMBER OF SHIPMENT 9,000,000 Mi iia 8,303,595 8,000,000 Be eA EE 7,148,647 7,000,000 6,931,318 6 787,599 120% 6,000,000 5,886,580 100% 5,391,093 4,871,419 6,000,000 4,652,101 80% 3,901,739 61.9% 4,000,000 62.7% 54.7% 3,330,674 60% 50.9% 3,000,000 3,007,626 52.5% 42.3% 45.9% 41.1% 40% 2,00
Slide 24: Average Retail Price
PIR BOWE AVERAGE RETAIL PRICE 23 25% SF aian ES ih lt ERBOECRSE (ZOZOTOWNE) Dimi IRS € MIRAI wh eM CRTC cick RH Bona 20% BUERIRBLE 15% 10% 5,939 5% 5,236 4,468 4,474 3,855 4,858 4,099 3,664 0% 5% LJ 8.3% S.0% 72h 1% 11.4% 9.1% 10% 14.7% 11.8% 15% -20% -25% (8) 16/0381Q 16/03%2Q 16/03%3Q 16/03584Q 17
Slide 25: Average Purchase Amount per Shipment
q or H fay BB (OD FETS 24 AVERAGE PURCHASE AMOUNT PER SHIPMENT 18,000 Hi fe (ii it POE BADECHS (ZOZOTOWNSS) Oma IRS € PRIOR CRI CCI kW BM 35% 16,000 Bona 14,000 BLE IABH 25% 12,000 10,651 15% 9.605 10,143 10000 | ae 2277 9.189, 690 8,955 9,043 ; 7,941 8,530 8,186 8,000 LJ A ” 2.7% 1.9% 1.7% 6,000 2.
Slide 26: Ratio of Shipment Volume by Access Terminal
FINA Al HW ta LER THE RATIO OF SHIPMENT VOLUME TO THE TOTAL PURCHASE VOLUME ( by access terminal ) 25 100% PC OENTI @ZY-—hI4Y “on 82.1% . ‘0 ° 79.4% 80.4% 80% +1 6% 75.2% 77.5% 0, . ‘0. 70% 66.0% 982% 99% 0, 60.4% 82:3% 60% 50% yon | 38-7% 36 9% 33.4% 31.3% 959 7%, 9 30% 28.1 %o 24.6% 59 39 . ‘0 fe)
Slide 27: 18/03期会社計画 Business Plan for FY2017
Slide 28: Consolidated Business Forecast and Dividend Forecast for FY2017
18/0334 i FRE tae te 78 - CONSOLIDATED BUSINESS FORECAST AND DIVIDEND FORECAST FOR FY2017 Acs 27 18/03#8at i BR (%) Bohs 2,70018 FA 27.3% she 1,00018 FA 30.9% Ee Seng 320f8 Fi 21.7% i FZ 320f8 Fi 21.0% PLEASE (Clee ST S 4 BAAS 22218 A 30.3% TAR 7 1) RAHA Et 71.2F VAM EW ACME (FE) 29F4
Slide 29: Transaction Value
Pian IR es O HES TRANSACTION VALUE 28 4,000 MaRS © SRE WERE) 3,500 12.4% 14% 12% 3,000 10% 2,500 8% 2,000 1,595 6% 1,500 1,290 1,146 958 4% 1,000 802 561 soo | 366 2% ie} 0% () 10/03 11/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 (3H)
Slide 30: Breakdown of Total Transaction Value and Each Policy
Sittat Blalte RO Dstt BREAKDOWN OF THE TOTAL TRANSACTION VALUE AND EACH POLICY AB-—bhhyOF TS Maco IRS BE: 2,700fH (IBALL +27.3%) ZOZOTOWN#3 Miao Mike BS : 2,64018A (ARAL +28.8%) -SityavT7 2,460 (arHALE +28.2%) - ZOZOUSED 18012 (aiHALE +39.8%) BtoB# Man ike BR : 60 (AIHA -3.5%) SAM MMMM) er Fl 2638 B
Slide 31: Capital Investment
ax iat A OER CAPITAL INVESTMENT 2,500 2,000 1,500 1,000 500 30 axe Wh xitiezoe 2,162 On AREA 2,000 825 1,174 230 1,047 744 1,107 409 570 231 466 1,080 843 150 353 786 765 113 586 277 322 | 153 (iy 11/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 (sti)
Slide 32: Dividends per Share and Payout Ratio
14% 7) ACS SR OBC 1] OGEB DIVIDENDS PER SHARE AND PAYOUT RATIO 31 35 Wi iascome 30 ACHE 40.3% 406% 41.8% 41.5% 29.0 35.6% 25 22.7 34.3% 20 ; ; 24.1% 249% 24.8% 21.5% 15.6 15 11.3 10 83 6.6 5.0 5 2.3 »|o7 og 14 0 [| |! (RB) 08/03 09/03 10/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 (##)
Slide 33: 中長期計画 Future Strategies
Slide 34: Mid to Long-Term Vision
pRB Yay MID TO LONG-TERM VISION 33 HoMkeOPeRae . * 5,000 Banke } Wit FL FORA ra 20XX4E3 Ai HA BGBRS 5,000A BRA 500% A 2,700“ 2,500 2,120 2,000 1,595 sn + 290 = 1,146 958 1,000 802 561 500 366 (Fa) 0 G8) 10/03 11/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 20XX4E3A HA (at) (Be)
Slide 35: Market Expansion Strategy
risa A RRS MARKET EXPANSION STRATEGY ZOZOTOWN ZOZOUSED (CtoBtoC) 34
Slide 36: 参考資料 Reference Data
Slide 37: Corporate Principles
AR-—bhbh OTT BRIS CORPORATE PRINCIPLES 36 6,346... 872. PRREADeLEDPyYaLIgTk REEB ( H49 31.6 ez ) th Pe Av ak , HR ic Ke Make the world a better place, Bring smiles to the world. 13,812. 720,. EARL
Slide 38: Major Services
FEEY-EX 37 MAJOR SERVICES AABAROI yy VavjRt 1 k [ZOZOTOWN] (Try vaveRbe ULARRARD 1 a-Ay bY aveELItt bo +1,094Y a 77. 634677> KORG. MBRMSSSSOHALE, FOSSA 1 A2,900RLLE L YRFL. FTL, WHEE ECB SIME * BAT CRIS. . 2Znhea ZOZOTOWN http://zo0z0.jp/ AARRARMDNI Py Yava-F4HKR-bPFTY [WEAR] * ARRAROI Py YavAa-F+H-
Slide 39: Our Subsidiaries
FASHIC DUT OUR SUBSIDIARIES 38 mantis RASA R—bhho TF LE YAF LAR. WEBS Y 4 >. CRM, HaTRISE- REDS PRAHIFIL Y aL 1-¥-SPoph ry ValLByeRR, WEtTI“LKRBSS*E RA. ASHP TAF EC+ 4 hate, WEBY—-771>7, WEBt +2077, ECE TU T—-Yarnizt. yay7 + ZOZOUSED FANSALVASILY VAT LR WERTH 1 >. RAT - REDS Be KT v3EIL201 7H 6 A30A
Slide 40: Business Model
EVRAEFIL BUSINESS MODEL ZOZOTOWN#3= Sat vayT7 ZOZOTOWNIC HIE 31,0884 LOT VY ay PORES tit. 5F-EBOCEB*CELUA CHP SERV ZAIOKELEWBE. RLS = Bay TOMAR X SFA ‘BMY ayT7 ZOZOTOWNE(=T. GEREN. PIL KX-A— LV AEM SE BUM BRET SS. RLS = 8a» JORGDRES * ZOZOUSED 1-f-SPSPR py Yale RM, tT II RMS St RA RLS =4 av 7ORRWRS
Slide 41: REEL, SHARE CHRBUE EK EODBH CS"),
REEL, SHARE CHRBUE EK EODBH CS"), KREMAEANCTSENCLHW ECA, REECE S 1 CUS ABP ARO PBC OS EL Td, BAG CAF ARE CISCO & Bt CHM LEED CHW ET. FRCS ESEGMEEBRPAELTS!), RRORMIS CNSOHRKREL CRE SHEP HW ET.
Start Today Co.,ltd. — Q3 FY2017 Earnings Presentation on 6ix