Milbon Co., Ltd. · TSE:4919
Milbon — FY2021 Earnings Presentation
89 slides from Milbon's earnings presentation, Feb 10, 2022
Slide 1: FY2021 Financial Results Presentation Materials
Milbon Co., Ltd. FY2021 Financial Results Presentation Materials Presentation Materials February 10, 2022 © 2022 Milbon Co., Ltd. 0
Slide 2: Table of Contents
Table of Contents P2 Consolidated Operating Results P3 Consolidated Sales by Product Category P14 Consolidated Statement of Earnings P15 Consolidated Trends in Capital Expenditures and R&D Expenses P16 Trends in Fieldpersons (FPs), Market Related Data P17 Consolidated Net Sales in Japan and Overseas
Slide 3: Consolidated Operating Results
Consolidated Operating Results As a result of continuing to work closely with salons in cooperation with distributors even amidst the COVID-19 pandemic, our sales remained robust, with a 14.7% increase compared to 2019, prior to the impact of the pandemic. As for overseas sales, all 3 major countr
Slide 4: Consolidated Sales by Product Category [Hair Care Products (1)]
Consolidated Sales by Product Category [Hair Care Products (1)] Consolidated Net Sales (Unit: million yen) Increase/ Increase/ FY2020 FY2021 Decrease Decrease ratio (%) 21,135 24,466 3,331 15.8 • Premium brands were up 25.6% YoY, driving growth in the overall hair care sales. For Aujua, the Hair Car
Slide 5: Consolidated Sales by Product Category [Hair Care Products (2)]
Consolidated Sales by Product Category [Hair Care Products (2)] New Products FY2021 Aujua Hair care Series Repairlity Line A hair care series that cares for hair damage due to bleach and makes a smooth hair from inside. (Unit: million yen) FY2021 target FY2021 Progress rate (%) 800 1,292 161.5 Febru
Slide 6: Consolidated Sales by Product Category [Hair Care Products (3)]
Consolidated Sales by Product Category [Hair Care Products (3)] GRANDLINKAGE A new color care brand that sustains the colors and hair becomes easy to manage after coloring at the salon. (Unit: million yen) FY2021 target FY2021 Progress rate (%) 1,200 1,165 97.1 February 9, 2021 Debut Elujuda Bleach
Slide 7: A Premium Brand, Aujua
A Premium Brand, Aujua Launch of new products and increase in milbon:iD registered members contribute to sales growth Number of Salons (Unit: salons) Increase/ Increase/ FY2020 * FY2021 * Decrease Decrease ratio (%) 4,222 4,946 724 11.7 Consolidated Gross Sales (Unit: million yen) Increase/ Increase
Slide 8: A Premium Brand, Global Milbon
A Premium Brand, Global Milbon Growth driven by the further creation of customer touchpoints, as well as by the sales of the new Premium Position Line Number of Salons (Unit: salons) Increase/ Increase/ FY2020 * FY2021 * Decrease Decrease ratio (%) 9,916 14,575 4,659 47.0 Consolidated Gross Sales (U
Slide 9: Consolidated Sales by Product Category [Hair Coloring Products (1)]
Consolidated Sales by Product Category [Hair Coloring Products (1)] Consolidated Net Sales (Unit: million yen) Increase/ Increase/ FY2020 FY2021 Decrease Decrease ratio (%) 12,594 14,813 2,219 17.6 • Demand for design color continues to be strong, and sales of Ordeve Addicthy grew strongly in respon
Slide 10: Consolidated Sales by Product Category [Hair Coloring Products (2)]
Consolidated Sales by Product Category [Hair Coloring Products (2)] Core Product FY2021 Ordeve Addicthy Erases red-tinged brown with high saturation blue. With clear and transparent color expression, it lets customers freely realize individual hair color designs. (Unit: million yen) Increase/ Increa
Slide 11: A Premium Organic Brand, Villa Lodola (1)
A Premium Organic Brand, Villa Lodola (1) A steady increase in the number of touchpoints and sales as a result of consistent activities centered on the collaboration with distributors Number of Salons (Unit: salons) Increase/ Increase/ FY2020 FY2021 Decrease Decrease ratio (%) 10,128 11,317 1,189 11
Slide 12: A Premium Organic Brand, Villa Lodola (2)
A Premium Organic Brand, Villa Lodola (2) Core Product FY2021 Villa Lodola Color With 92% natural ingredients, the product’s formulation utilizes the power of plants. It enables consumers to experience the comfort of an organic product across all aspects of hair care, from application, to finish, an
Slide 13: Consolidated Sales by Product Category [Cosmetic Products]
Consolidated Sales by Product Category [Cosmetic Products] Consolidated Net Sales (Unit: million yen) Increase/ Increase/ FY2020 FY2021 Decrease Decrease ratio (%) 360 579 218 60.6 • Cosmetics sales grew significantly by 60.6% YoY, but fell short of the annual target of 640 million yen due in part t
Slide 14: A Premium Brand, Imprea
A Premium Brand, Imprea Both the number of salons and sales increased, but did not reach the target. Number of Salons (Unit: salons) Increase/ Increase/ FY2020 * FY2021 * Decrease Decrease ratio (%) 645 1,104 459 71.2 Consolidated Gross Sales (Unit: million yen) Increase/ Increase/ FY2020 FY2021 Dec
Slide 15: Consolidated Statement of Earnings
Consolidated Statement of Earnings <Consolidated Statement of Earnings> (Unit: million yen) <Breakdown of net sales by product category> (Unit: million yen) Increase/ Increase/ % to % to FY2020 FY2021 % to sales Decrease Decrease FY2020 FY2021 ratio (%) sales sales Hair care products 21,135 24,466 5
Slide 16: Consolidated Trends in Capital Expenditures and R&D Expenses
Consolidated Trends in Capital Expenditures and R&D Expenses (Unit: million yen) Category FY2017 FY2018 FY2019 FY2020 FY2021 Capital expenditures 1,570 1,149 1,605 1,917 4,644 Depreciation and amortization 1,272 1,370 1,453 1,562 1,777 Amount 1,422 1,479 1,534 1,581 1,741 R&D exp. % to sales 4.3 4.2
Slide 17: Trends in Fieldpersons (FPs), Market Related Data
Trends in Fieldpersons (FPs), Market Related Data (Number of FPs / As of January 1, the beginning of the Fieldpersons trends (by country) fiscal year (As of December 21 for 2017 and before)) 2017 *1 2018 2019 2020 2021 JAPAN 258 269 279 297 328 Upper column: Number of FPs (persons) Lower column: Sal
Slide 18: Consolidated Net Sales in Japan and Overseas
Consolidated Net Sales in Japan and Overseas (Unit: million yen) Increase/ Changes in Local FY2020 FY2021 *1 Increase/ Decrease ratio currency base Decrease Net Sales % to sales Net Sales % to sales (%) (%) Consolidated Net Sales 35,725 100.0 41,582 100.0 5,857 16.4 15.1 JAPAN 29,880 83.6 33,643 80.
Slide 19: Consolidated Operating Income in Japan and Overseas
Consolidated Operating Income in Japan and Overseas (Unit: million yen) Increase/ FY2020 FY2021 Increase/ Decrease ratio Operating Operating Operating Operating Decrease (%) Income income ratio(%) Income income ratio(%) Consolidated Operating Income 6,394 17.9 7,817 18.8 1,422 22.3 JAPAN 5,989 20.0
Slide 20: Outlook of Overseas Subsidiaries (1)
Outlook of Overseas Subsidiaries (1) Figures in the text are based on local currency. USA (Milbon USA) • As a result of actively expanding the collaboration with distributors, the sales grew significantly by 89.3% YoY. It was up 36.7% compared to 2019, the time prior to the impact of COVID-19. • Exp
Slide 21: Outlook of Overseas Subsidiaries (2)
Outlook of Overseas Subsidiaries (2) CHINA (Milbon China) • In China, sales grew steadily, rising 26.9% YoY and 33.5% compared to 2019. However, due to the repeated tightening of regulations imposed as a result of the pandemic, the Company was unable to carry out its activities as expected. This was
Slide 22: <Appendix> Hair Care Brand Positioning Map
<Appendix> Hair Care Brand Positioning Map Premium brands Professional brands © 2022 Milbon Co., Ltd. 21
Slide 23: Milbon Group Medium-Term Management Plan for 2022–2026
Milbon Group Medium-Term Management Plan for 2022–2026 New Stage for the Future Ryuji Sato, Representative Director, President and CEO © 2022 Milbon Co., Ltd. 22
Slide 24: I. An Overview: Change the Stage 18-Month Missions!
Ⅰ . An Overview: “Change the Stage” 18-Month Missions! © 2022 Milbon Co., Ltd. 23
Slide 25: Change the Stage 18-Month Missions!
Change the Stage 18-Month Missions! Accelerated sharply due to Changes in social values the COVID-19 pandemic New values that have Changes in social and customer values originated amid the and structures predicted in the previous COVID-19 pandemic Medium-Term Management Plan Establishing a path towa
Slide 26: Change the Stage 18-Month Missions!
Change the Stage 18-Month Missions! 18-Month Missions! Path toward a new stage Initially projected path of stage evolution and sales growth during the current medium term A new sales-growth path that will be carved by the path toward a new stage 2019 ＞ 2020.1 ＞2020.7 ＞ 2022.1 ＞ 2023.12 Making thorou
Slide 27: Change the Stage 18-Month Missions!
Change the Stage 18-Month Missions! Moving Total of Consolidated Net Sales 2015-2018 Medium-Term 2019-2023 MT 2022-2026 MT Change the Stage 18-Month Missions! 2015 2016 2017 2018 2019 2020 2021 2022 2023 © 2022 Milbon Co., Ltd. 26
Slide 28: Progress in the Accomplishment of the 18-Month Missions
Progress in the Accomplishment of the “Change the Stage” 18-Month Missions! 25 missions to be accomplished in four stages of accelerated evolution during 18 months Foundation for a shift from digitalization to a digital transformation (DX) strategy 1. Promotion of milbon:iD [170,000 registered membe
Slide 29: II. Structural Changes in the Economy
Ⅱ . Structural Changes in the Economy © 2022 Milbon Co., Ltd. 28
Slide 30: Business Conditions
Business Conditions Industries severely affected by the pandemic Laundry Textile and service industry Transportation apparel industry Amusement Restaurant Bathhouse industry industry Cosmetics and industry Beauty salon and industry household goods Hotel industry barber retail industry industry The s
Slide 31: Essence of Factors and Problems
Essence of Factors and Problems Impacts of the states of emergency Two (1) and priority preventive measures Factors direct that will Impacts of decreased international factors (2) tourists visiting Japan improve (3) Shrinking market due to the decrease and aging of the Japanese population Rapid decl
Slide 32: Arrival of the New Normal Era
Arrival of the New Normal Era 1 Changes in people’s lifestyles and values ☑ Experience of living amid the COVID-19 pandemic (accelerated trends toward consumption in the vicinity) ☑ Heightened public awareness of self healthcare (value of a consumer perspective) 2 Accelerated digital transformation
Slide 33: Large Fluctuations Due to a Great Reset of the Economy
Large Fluctuations Due to a Great Reset of the Economy 1 Changes in consumption as a foundation for the economy Major shift from the consumption of materials to the consumption of value 2 Action toward sustainability and carbon neutrality Heightened public awareness of climate change 3 Return of an
Slide 34: Start of Structural Changes: Summary
Start of Structural Changes from the Economy Coexisting with COVID-19 to the Post-COVID-19 Economy: Summary Large Arrival of the Fluctuations Due New Normal to a Great Reset Era of the Economy Emergence of a new, unprecedented business environment that revolves around uncertainties about the future
Slide 35: Four Paradigm Shifts in the Business Environment
Four Paradigm Shifts in the Business Environment In the past From now Pursuit of Pursuit of Pursuit of social benefits financial financial & social benefits benefits Prediction Assumption Business activities in anticipation of the future that the future cannot be of uncertainty about the future pred
Slide 36: Five Strategic Actions
Five Strategic Actions ➣ Our essential purpose in society Redefine the direction we = the essence of the needs of society should take and consumers ×our long-developed strengths ➣ Improve our cash management capabilities Improve our cash management ➣ Build better and more enduring relationships capa
Slide 37: How to Address Structural Changes in the Economy: Summary
How to Address Structural Changes in the Economy: Summary Recovery New value and advancement pandemic as a starting point New COVID-19 services Unnecessary things to be weeded out The key will be a shift to new value and new services. This means that business format reformation will be the essence o
Slide 38: Toward a Bright Future of the Beauty Industry
Toward a Bright Future of the Beauty Industry 37
Slide 39: Toward a Bright Future of the Beauty Industry: Problems
Toward a Bright Future of the Beauty Industry: Problems Accelerated Acceleration population of the Structural problems in the Decrease in aging downsizing of the Japanese combined trading areas Japanese beauty market population with a (trends declining toward birthrate consumption in the vicinity) S
Slide 40: Beauty salons' potential
Toward a Bright Future of the Beauty Industry: Two Potentials Their strengths as real 1. Beauty salons’ potential communities Characteristics of beauty salons as communities Need for Regular Long- in-person visits time stay visits Beauty salons’ potential as “real” communities (relationships and pla
Slide 41: Beauty salons' potential: Beyond hair
Toward a Bright Future of the Beauty Industry: Two Potentials Customer expectations for not only haircare and 1. Beauty salons’ potential skincare but also healthcare and beauty salons’ value as places for shopping From beauty and health Beyond counseling to hair places for shopping Taking an advant
Slide 42: DX's potential
Toward a Bright Future of the Beauty Salon Industry: Two Potentials 2 DX’s potential Dramatic changes in digital technology and the digital SNS . AI environment Changes in services Digital Utilization of data DX Real EC 5G Increased productivity Potential for DX to help reform existing business form
Slide 43: Beauty Salon Industry: Summary of Problems and Potentials
Toward a Bright Future of the Beauty Salon Industry: Summary Problems Potential s Structural problems in Beauty salons’ the Japanese beauty potential salon industry Structural problems in DX’s potential the Japanese beauty salon market The current condition of beauty salons should be reformed to mat
Slide 44: III. Medium-Term Management Plan: New Stage for the Future
Ⅲ . Medium-Term Management Plan:New Stage for the Future © 2022 Milbon Co., Ltd. 43
Slide 45: Medium-Term Milestone
Medium-Term Milestone We aim to become the leading manufacturer in Asia and top 5 in the world by elevating the value of industry professionals in the eyes of consumers and society at large. © 2022 Milbon Co., Ltd. 44
Slide 46: 2026 Medium-Term Sales / Operating Income Target
2026 Medium-Term Sales / Operating Income Target Sa les Targ et O p e r a t i n g I n c o m e Ta r g e t Consolidated sales target Consolidated operating income target ¥58.0 bn ¥10.8 bn （CAGR 7.3％） （ Operating margin: ＜Product shipment 18.6%） value: ¥64.0 bn＞ © 2022 Milbon Co., Ltd. 45
Slide 47: Long-Term Global Strategy: 7 Regions
Long-Term Glo bal Strate gy 7 Region s © 2022 Milbon Co., Ltd. 46
Slide 48: Seven Regions Making Up the Overall Global Market
Seven Regions Making Up the Overall Global Market: Promotion of Local Production for the Local Market We divide the overall global market into seven regions, and build regional structures for development and production to respond appropriately to diversity in hair quality, culture and values, and co
Slide 49: Long-term Expansion of the Seven Regions in the Global Market
Long-term Expansion of the Seven Regions in the Global Market South Chinese Korea cultural ASEAN sphere Japan Aiming to acquire the Aiming to Aiming to status of the become the Aiming to true industry top overseas expand to acquire a leader and beauty product 30% share manufacturer India and make an
Slide 50: Specific Measures: Distributor Strategy
Specific Measures: Distributor Strategy We will establish a global organizational system and expand our overseas business to achieve the target of doubling our sales in overseas markets. We will share the regional Medium-Term Management Plan with local distributors, and strengthen our system for col
Slide 51: Specific Strategies for Overseas Markets
Specific Strategies for Overseas Markets 4 Target Indicators for FY 2026 Overseas North Total China Korea Others America (Growth Rate) ①Sale-out target 2,576 6,181 12,700 6,005 27,500 （million yen） ②Number 49,300 12,000 7,030 17,379 12,898 of contacts salons ③Number 1,172 of sales 250 153 470 299 ag
Slide 52: Global Product Development, Production, Logistics
Specific Measures: Global Product Development, Production, Logistics Establishment of a global product development, production, and logistics system ~Establishing “Made by Milbon”~ Product Development Production & Logistics ・Build a product development system that ・Strengthen production and shipment
Slide 53: Global Strategy - Group Human Resources
Global Strategy -Group Human Resources- Basic Policy on Human Resources Strategy: Each employee becomes a driving force of Milbon As part of Milbon's sustainable growth, we will foster a corporate culture that enables every employee to continue to work with a spirit of independence and a feeling of
Slide 54: Beauty Salon Industry: Summary
Toward a Bright Future of the Beauty Salon Industry: Summary Same as page 42 Problems Potential s Structural problems in Beauty salons’ the Japanese beauty potential salon industry Structural problems in DX’s potential the Japanese beauty salon market The current condition of beauty salons should be
Slide 55: Reformation: Realizing the New Form of Hair Salons
Reformation: Realizing the New Form of Hair Salons Salon-based Social Innovation © 2022 Milbon Co., Ltd. 54
Slide 56: Salon-based Social Innovation Beauty Platform Plan
Salon-based Social Innovation Beauty Platform Plan to pioneer new functions of beauty salons in the eyes of consumers and society at large. (= Salon-based Social Innovation) © 2022 Milbon Co., Ltd. 55
Slide 57: Salon-based Social Innovation: Foundation for the Strategies
Salon-based Social Innovation Salon-based Social Innovation Beauty Platform Plan Sustainability Commitment: 1 2 Lifetime Five Key Two major strategies Smart Salon Challenges Beauty Care Strategy Strategy Ⅰ Foundation for the TAC Product Development Milbon's DX pivotal in Ⅱ Ⅲ strategy System at a nex
Slide 58: Salon-based Social Innovation × Sustainability Commitment
Salon-based Social Innovation Salon-based Social Innovation × Sustainability Commitment Milbon strives to achieve a sustainable community and society for people to live beautifully, through collaboration with salons. © 2022 Milbon Co., Ltd. 57
Slide 59: Smart Salon Strategy
Smart Salon Strategy The new form of salons characterized by the customer experience with the fusion of digital and reality Digital Real Development of knowledge-based × Development of salons as places product sales software for customers to experience all (1) Knowledge-based product sales Managemen
Slide 60: Smart Salon Strategy: Phases
Smart Salon Strategy Business project through collaboration with salons that aspire innovation of their functions PHASE1 PHASE2 Development of Expansion to flagship Smart Salons major cities throughout Japan Develop model salons Open approximately 500 to 1,000 in iconic spots in commercial areas Sma
Slide 61: Smart Salon Strategy
Smart Salon Strategy © 2022 Milbon Co., Ltd. 60
Slide 62: Milbon's Digital Transformation
M i l b o n’s Di g i t a l Tra n s f o r m a t i o n With the aim to build even stronger bonds with Vision of Milbon’s DX salons and customers, we provide services strategy through the fusion of real world and digital technologies DX strategy for building a stronger bond with customers Consumers Sty
Slide 63: milbon:iD Target of exceeding 1 million registered members
DX Strategy for Building a Stronger Bond with Customers milbon:iD Target of exceeding 1 million registered members 3 commerce strategies to increase Raise awareness and create attractiveness referral opportunities • E-Commerce • Pop-ups designed to introduce • Live Commerce customers to visit salons
Slide 64: education:iD and Salon Data Marketing
DX Strategy for Building a Stronger Bond with Customers education: iD *Number of hairstylists Salon data marketing support in Japan: 440,000 Knowledge-based Current number of Store sales＋EC sales product sales registered stylists 100,000 management About 9,000 Plan Keep track of <who> bought <what>,
Slide 65: DX Strategy as a Foundation
DX Strategy as a Foundation DX in Field Activities Support FP’s various indirect operations with DX Improvement of various Cloud computing for sales data management market referral materials Sales-related data Sales promotion-related data Brochure Sales promotion POP Samples tools By enhancing produ
Slide 66: Lifetime Beauty Care Strategy
Lifetime Beauty Care Strategy Hair care in a broad sense, Hair care which refers to haircare services in general Lifetime Skincare in a broad sense, Beauty Care Skincare including makeup Strategy Beauty Providing healthcare that helps people to live beautifully, Healthcare centered on oral supplemen
Slide 67: Lifetime Beauty Care Strategy: Hair care
Lifetime Beauty Care Strategy Hair care in a broad sense, which refers Hair care to haircare services in general Hair (1) Further improving the premium brands AJ and GM (2) Launching new brands to enhance the organic brand care business Development of the second brand following Villa Lodora (1) Laun
Slide 68: Lifetime Beauty Care Strategy: Skincare
Lifetime Beauty Care Strategy Skincare Skincare in a broad sense, including makeup Education and deep-engagement Launching luxury-line and items type with wide color variations Wide-area and Multipurpose items: All-in-one serums mass-market type Edgy and cool items: Makeup products Wide-area and Lau
Slide 69: Lifetime Beauty Care Strategy: Beauty Healthcare 5-ALA
Lifetime Beauty Care Strategy Beauty Providing healthcare that helps people to live Healthcare beautifully, centered on oral supplements Kao ○ Providing accurate healthcare services based on sebum RNA testing Corporation ○ Leveraging vast knowledge and evidence ○ Development of 5-ALA supplements ５-A
Slide 70: Evolution of the TAC Product Development System for BtoBtoC
Evolution of the TAC Product Development System for BtoBtoC Change in the percentage of haircare and cosmetics Knowledge-based sales product product sales have been becoming the business 46.4% (2000) → 60.2% (2020) core. <Development model for <Development model for Definition of business-use produc
Slide 71: Specific Measures for the Japanese Market: Salon Strategy
Specific Measures for the Japanese Market 【Salon Strategy】 (Share Prioritization Policy) Three layers of the expected beauty market and field activities Percentage Examples of Suitable sales activities of total similar salons Large salon chain with 301 5％ or 10％ or more staffs lower Medium- sized sa
Slide 72: Specific Measures for the Japanese Market: Distributor Strategy
Specific Measures for the Japanese Market Distributor Strategy Net Sales classification Priority Agreement with our policy× Prioritization Policy Policy implementation (Allocation of Resources through Influence New Priority Categories) in the region Start of FP Unit Activities Field Salon Educator F
Slide 73: Basic Guideline for Sustainability
Basic Guideline for Sustainability <Basic Guideline for Sustainability> We are committed to achieving a sustainable society through our collaboration with haircare professionals. © 2022 Milbon Co., Ltd. 72
Slide 74: Sustainability Commitment: Five Key Challenges
Sustainability Commitment: Five Key Challenges Most important challenge in the beauty salon market: "Creating Communities of Beauty and Soul" Ⅰ Realize spiritual richness through beauty From the development of hair stylists who can build close relationships with customers to the creation of sustaina
Slide 75: Sustainability Commitment: Five Key Challenges
Sustainability Commitment: Five Key Challenges Achieving both sustainable business growth and solving social issues Ⅱ Promote recycling in manufacturing and consumption activities Carbon neutrality as a countermeasure against the climate change crisis Target 1: Building a carbon-neutral production s
Slide 76: Sustainability Commitment: Five Key Challenges
Sustainability Commitment: Five Key Challenges Building a foundation for the Company’s sustainable business growth Ⅳ Construct a fair and flexible management structure A fair and flexible management structure サステナビリティのⅣと Indicator 1: Outside directors accounting for one-third or more of the Board me
Slide 77: Salon-based Social Innovation: Foundation for the Strategies
Salon-based Social Innovation Same as page 56 Salon-based Social Innovation Beauty Platform Plan Sustainability Commitment: 1 2 Lifetime Five Key Two major strategies Smart Salon Challenges Beauty Care Strategy Strategy Ⅰ Foundation for the TAC Product Development Milbon's DX pivotal in Ⅱ Ⅲ strategy
Slide 78: New Medium-Term Financial Targets & Targets for Fiscal Year 2022
New Medium-Term Financial Targets ＆ Targets for Fiscal Year 2022 © 2022 Milbon Co., Ltd. 77
Slide 79: NOTE: Addition of Sales Deduction Items
NOTE :Addition of Sales Deduction Items Previously, sales discounts for cash-settled customers were treated as financial expenses (non-operating expenses) from the viewpoint of materiality. However, in light of recent interest rate conditions, such expenses will be treated in the same manner as reba
Slide 80: Medium-Term Financial Targets
Medium-Term Financial Targets FY2021 New Mid-Term End Increase/ FY2021 Adjustments* FY2026 Decrease CAGR over mid- (%) Results % total sales Target % total sales term plan Results % total sales （Unit: million yen） Net sales 40,849 100.0 58,000 100.0 7.3 100.0 41,582 100.0 Domestic 32,938 80.6 43,700
Slide 81: Medium-term Financial Targets - Sales Targets by Country
Medium-term Financial Targets -Sales Targets by Country- ■ Consolidated Net Sales in Japan and Overseas (*As in Fiscal Year 2022, the amount after deducting sales discounts） Forex rates Forex rates FY2021 FY2026 CAGR FY2021 FY2021 (Unit: FY2026 (Unit: Adjustments* Target （%） Results （Unit: million y
Slide 82: Medium-Term Financial Strategy
Medium-Term Financial Strategy Initial plan: Results: Target: previous medium-term previous medium-term＆18 month new mid-term (2019-2023):5 years missions（2019-2021）:3 years (2022-2026):5 years 営業CF Over 26 billion yen 17.7 billion yen Over 44 billion yen Use: 12 billion yen 8.2 billion yen 23 billi
Slide 83: Medium-term Capital Expenditures
Medium-term Capital Expenditures New Medium-Term Capital Expenditure Plan (2022-2026): 5 Years Unit: billion yen Sales Offices, Japan（11 locations） Studios 1.8 1.9 Overseas（5 locations） 0.1 Production system Yumegaoka Plant(Machinery and equipment circulation 3.8 equipment investment, implementation
Slide 84: Consolidated Targets for Fiscal Year 2022 (Income Statement)
Consolidated Targets for Fiscal Year 2022 (Income Statement) ■ Consolidated Statement of Earnings (*As in Fiscal Year 2022, the amount after deducting sales discounts） FY2021 FY2021 FY2022 FY2022 Increase / FY2021 FY2021 Reference Increase / Decrease ％ total % total Decrease Adjustments* Target rati
Slide 85: Consolidated Targets for Fiscal Year 2022 (Sales and Operating Income by Country)
Consolidated Targets for Fiscal Year 2022 (Sales and Operating Income by Country) ■Consolidated Net Sales in Japan and Overseas (*As in Fiscal Year 2022, the amount after deducting sales discounts） Increase / Forex rates Forex rates FY2021 FY2022 Increase / FY2021 Decrease ratio FY2021 FY2022 Adjust
Slide 86: Consolidated Targets for Fiscal Year 2022 (Sales/Premium Brands by Segment)
Consolidated Targets for Fiscal Year 2022 (Sales/Premium Brands by Segment) ■Reference: Net Sales by Product Category (Consolidated Net Sales) Increase / FY2021 FY2021 FY2022 Target Increase / Decrease Decrease ratio （Unit: million yen） Adjustments* Results (%) Hair care products 24,029 25,570 1,540
Slide 87: Capital Expenditures in Fiscal Year 2022
Capital Expenditures in Fiscal Year 2022 ■ Capital expenditures, Depreciation and R&D expenses FY 2022 Classification FY 2021 Planned Capital 4,644 5,080 expenditures Depreciation and 1,777 2,296 amortization Amount 1,741 1,874 R&D exp. % to sales 4.2% 4.3% FY 2022 CAPEX Main Items Sales Offices, ・E
Slide 88: Return to Shareholders
Return to Shareholders ■ Shareholder Return <Dividend Forecast> [Before [After FY2022 FY2020 revision] revision] Forecast FY2021 FY2021 （Unit:yen） End of 2Q 27 30 30 34 End of FY 29 33 38 46 Total 56 63 68 80 Consolidated dividend payout ratio 43.3% 39.4% 42.6% 49.7% © 2022 Milbon Co., Ltd. 87
Slide 89: Forward-looking statements disclaimer
With respect to the business forecasts included in this document, any statement that is not historical fact is a forward-looking statement based on information available and certain premises that are judged to be rational at the time of the announcement. Please be aware that actual results may diffe