Edion Corporation · TSE:2730
Edion — Q3 FY03/23 Earnings Presentation
21 slides from Edion's earnings presentation, Feb 3, 2023
Slide 1: EDION Corporation Analyst Meeting Q3 FY03/23
EDION Corporation Analyst Meeting Q3 FY03/23 February 3, 2023 © EDION Corporation
Slide 2: Agenda of the Day
Agenda of the Day 1. Q3 FY03/23 Results 2. FY03/23 Earnings Forecast 3. Key Topics © EDION Corporation 1
Slide 3: 1. Q3 FY03/23 Results
⽬ 次 1. Q3 FY03/23 Results © EDION Corporation 2
Slide 4: Consolidated Statements of Income
Consolidated Statements of Income Q3 FY03/22 Q3 FY03/23 Million yen, % % of Q3 % of Q3 % of Sales Results % of Sales Results YoY Change FY03/21 FY03/22 Net Sales 528,808 91.0 538,554 101.8 9,745 Gross Profit 29.72 157,138 91.5 29.55 159,119 101.3 1,981 SG&A Expenses 27.3 144,111 96.9 26.9 144,902 10
Slide 5: Q3 Earnings Trends
Q3 Earnings Trends (JPY bn) 6,000 80% stay-at-home demand Steady growth rate in the Net Sales Consumption tax hike absence of special factors 70% 5,812 5,600 5,681 60% JPY 538.5bn 5,541 (Before change in 5,463 Impact from accounting policy) 5,396 50% 5,385 JPY554.1bn 5,200 5,288 change in accounting
Slide 6: Sales by Product: TVs and Air Conditioners
Sales by Product (Monthly Disclosure Basis) Vs. 2018 % of Q3 YoY; includes orders (orders received at POS) YoY 前年⽐ (for reference) コロナ前⽐ (2018) % of FY03/22 sales % of FY03/19 sales April–December Sales 140 128.8 124.9 （％） TVs 120 112.7 111.8 117.0 105.0 103.3 100.9 94.3 100 102.4 Q3 YoY 88.9％ 80 94
Slide 7: Sales by Product: Refrigerators and Washing Machines
Sales by Product (Monthly Disclosure Basis) Vs. 2018 % of Q3 YoY; includes orders (orders received at POS) YoY 前年⽐ (for コロナ前⽐ reference) (2018) % of FY03/22 sales % of FY03/19 sales April–December Sales 140（％） Refrigerators 120 111.9 117.9 108.4 111.8 112.9 107.7 101.6 104.3 100.9 100 101.1 108.1 95
Slide 8: Sales by Product: PCs and Mobile Phones
Sales by Product (Monthly Disclosure Basis) Vs. 2018 % of Q3 YoY; includes orders (orders received at POS) YoY 前年⽐ (for コロナ前⽐ reference) (2018) % of FY03/22 sales % of FY03/19 sales April–December Sales 140 （％） 119.9 PCs 120 108.2 106.0 107.3 111.5 91.8 94.5 97.9 100.5 100 100.2 104.2 106.7 101.5 10
Slide 9: Home Improvement Sales by Product
Sales by Product (Monthly Disclosure Basis) Vs. 2018 % of Q3 YoY; includes orders (orders received at POS) YoY 前年⽐ (for コロナ前⽐ reference) (2018) % of FY03/22 sales % of FY03/19 sales April–December Sales 139.4 139.4 Home Improvement 140 131.9 135.3 138.6 132.3 （％） 126.7 (ELS Business) 123.5 132.7 116
Slide 10: Q3 Gross Profit Margin and SG&A Ratio
Q3 Gross Profit Margin and SG&A Ratio 1 Gross Profit Margin 2 SG&A-to-sales Ratio （％） （％） 28 30 29.72 29.42 29.54 29.55 27.3 27.1 26.9 27 26.7 28.89 29 25.6 26 28 25 FY03/19 FY03/20 FY03/21 FY03/22 FY03/23 FY03/19 FY03/20 FY03/21 FY03/22 FY03/23 ■Gross profit margin in Q3 FY03/23: 29.55%; ■SG&A expe
Slide 11: Q3 Consolidated Balance Sheet and Statements of Cash Flows
Q3 Consolidated Balance Sheet and Consolidated Statements of Cash Flows Consolidated Balance Sheet Consolidated Statements of Cash Flows （Million yen） （Million yen） End-March End-December YoY Change Q3 FY03/22 Q3 FY03/23 2022 2022 Current Assets 190,597 207,699 17,102 CFs from Operating 1,217 10,311
Slide 12: 2. FY03/23 Earnings Forecast
⽬ 次 2. FY03/23 Earnings Forecast © EDION Corporation 11
Slide 13: Consolidated Earnings Forecast
Consolidated Earnings Forecast FY03/22 Q3 FY03/23 Forecast for FY03/23 Million yen, % Results YoY Change Results YoY Change % of Sales Forecast % of FY03/22 YoY Change Net Sales 713,768 92.9 538,554 101.8 736,000 103.1 22,231 Gross Profit 209,681 92.9 159,119 101.3 29.38 216,300 103.2 6,618 SG&A Exp
Slide 14: Store Openings, Relocations, and Closings
Store Openings, Relocations, and Closings (Actual and Planned) EDION Group 1,210 stores ■EDION-owned stores 453 ■Franchise stores 757 As of end-December 2022 Newly opened in EDION Seya, Kanagawa in December 2022 Relocations and End-of-Period Store (Stores) New Openings Closures YoY Change Renovation
Slide 15: 3. Key Topics
⽬ 次 3. Key Topics © EDION Corporation 14
Slide 16: Focus on Education Business
■ Key Topics︓Focus on Education Business 教育事業と地域コミュニティーへの注力 EDION Programming School Students Placed 4th and 7th in the Junior Division of the 2022 WRO! In November 2022, 365 teams from around the world participated in the WRO Germany Dortmund. Three teams from our company, Robo-Done, participated i
Slide 17: Focus on e-commerce and Logistics Businesses
■ Key Topics︓New Life in Spring Focus on e-commerce and Logistics Businesses to Meet Diversifying Customer Needs Enhancement of the EDION website Single packs combined with Nitori HD furniture are also available at directly managed stores. Enhanced in-store guidance Enhancement of delivery and servi
Slide 18: EDION PB Brand Introduction
■ Key Topics︓EDION PB Brand Introduction We Will Continue to Develop Products Developed from the Viewpoint of Our Customers New Living, From a New Angle © EDION Corporation 17
Slide 19: Dividends and Share Prices
Dividends and Share Prices While striving to improve capital efficiency, as measured through ROIC growth, we will focus on Interim Year-end Forecast maintaining a sound and stable balance sheet. 中間 dividend 期末 dividend 配当性向 Payout ratio 50 40.0% 29.6% 35.1% 32.2% 33.6% 1. Dividend Policy 45 30.8% 35
Slide 20: Strengthening of Sustainability Management
Strengthening of Sustainability Management: Toward Solving Social Issues Intensification of Relevant Initiatives 1 Initiatives Targeting a Sound Material-Cycle Society In pursuit of a sound material-cycle society, we actively ensure proper disposal of home electronics products covered by the Act on
Slide 21: Disclaimer
Disclaimer • The financial forecasts and other forward-looking statements in these materials are based on judgment made under normally foreseeable conditions, in accordance with information reasonably available to the Company as of the date these materials were produced. • The forward-looking statem