Fujicco Co., Ltd. · TSE:2908
Fujicco — H1 FY3/2025 Earnings Presentation
31 slides from Fujicco's earnings presentation, Nov 11, 2024
Slide 1: Semi-annual Results Presentation
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Consolidated Financial Results for the Six Months Ended September 30, 2024 Semi-annual Res
Slide 2: FY2024 Management Policy
FY2024 Management Policy A shift from defensive to offensive moves (Building a foundation) (Leaping forward) ❶ Revitalize the entire bean products business ❷ Further strengthen the kombu products business ❸ Promote businesses in the pre-growth stage ❹ Promote digital transformation (Year 3) ❺ Restor
Slide 3: A Shift from Defensive to Offensive Moves: The topline is trending upward
A Shift from Defensive (Building a Foundation) to Offensive (Leaping Forward) Moves The topline is trending upward. ■Net sales (Millions of yen） 1. The decline in sales of bean products halted 29,000 1) Sales of boiled beans increased, driven by Mamekobachi after advertising on TV. 28,500 28,422 2)
Slide 4: Revitalize the Entire Bean Products Business through Two Projects
Revitalize the Entire Bean Products Business through Two Projects Two cross-divisional projects were launched to revitalize the entire bean products business for value enhancement and sales expansion. Value enhancement project Sales expansion project ・Develop new technology and propose new ・Increase
Slide 5: Revitalize the Entire Bean Products Business: Beans Forum
Revitalize the Entire Bean Products Business: Beans Forum FUJICCO held forums on improving “gut” wellness with bean products in Tokyo (Oct. 2) and Osaka (Oct. 8.) Prof. Yuji Naito Sumire Hirotsuru Suzu Yamanouchi *Tokyo forum *Osaka forum © FUJICCO Co., Ltd. 5
Slide 6: Revitalize the Entire Bean Products Business: Mamekobachi
Revitalize the Entire Bean Products Business: Mamekobachi Mamekobachi achieved a two-digit growth by strengthening sales promotion linked with TV advertising, increasing in-store exposure and launching new products. TV advertising (Jun.) New product launch (Sep.) 140% 130% 120% 110% 100% 90% 80% Apr
Slide 7: Revitalize the Entire Bean Products Business: Steamed Beans
Revitalize the Entire Bean Products Business: Steamed Beans Sales of steamed beans have grown significantly with a campaign of 20% volume increase, celebrating the 20th anniversary of its launch. The market share has also increased. 40% 35% 30% 25% 1Q 2Q 3Q 4Q 1Q 2Q 2023 Market share 2024 ■Changes i
Slide 8: Expand the Yogurt Products
Expand the Yogurt Products Sales of Caspian Sea Yogurt remained strong with the increase of distribution ratio. Sales of Marugoto SOY Caspian Sea Yogurt remain at a high level after publicity activities. We focus on improving the brand value of Caspian Sea Yogurt. © FUJICCO Co., Ltd. 8
Slide 9: Further Strengthen the Kombu Products Business
Further Strengthen the Kombu Products Business Fujicconi has a strong brand power and continues to perform well even after the price increase. TV advertising Presented recipes to promote products Apr.-Jun., Sep.-Oct. and increase their use Jul.-Aug. 110% YoY change 100% 90% Oct. Nov. Dec. Jan. Feb.
Slide 10: Using Namakombu (1): Expand the lineup of MIRAI
Further Strengthen the Kombu Products Business: Using Namakombu (1) Expand the lineup of MIRAI series which uses Namakombu A chewy food texture! Namakombu from Hokkaido is used. Wasabi Namakombu Umakara Namakombu Namakombu with plum © FUJICCO Co., Ltd. 10
Slide 11: Using Namakombu (2): MUGEN-KOMBU
Further Strengthen the Kombu Products Business: Using Namakombu (2) Developed a new category product of MUGEN-KOMBU which uses Namakombu A new paste-type condiment made from Namakombu to add to your dishes Green chili and sansho Perilla seeds and ginger Plain © FUJICCO Co., Ltd. 11
Slide 12: Promote Businesses in the Pre-growth Stage
Promote Businesses in the Pre-growth Stage The Beni-koji (red yeast rice) scandal weighed on the overall supplements market, and the sales of the e-commerce and material businesses unexpectedly decreased below the previous year level. E-commerce Business Materials Business ■Issues ■Issues ・The marke
Slide 13: Restore Earning Power
Restore Earning Power The challenge is to regain our earning power. ■Operating profit (Millions of yen) 1. Increases in deduction for revenue recognition purposes and sales promotion expenses 2,500 2,322 1）An upfront investment after the price increase 2,177 2）A delayed renewal to improve product qu
Slide 14: Outline of FY2024 Semi-annual Results and Full-year Forecast
Outline of FY2024 Semi-annual Results and Full-year Forecast
Slide 15: Consolidated Statements of Income (YoY Change)
Consolidated Statements of Income (YoY Change) H1 FY3/2024 H1 FY3/2025 YoY change YoY % change Millions of yen % Millions of yen % Net sales 27,466 100.0 28,055 100.0 589 2.1% Cost of sales 19,215 70.0 19,885 70.9 670 Gross profit 8,250 30.0 8,169 29.1 (80) SG&A expenses 7,589 27.6 7,912 28.2 322 Op
Slide 16: Analysis of Changes in Operating Profit (YoY Change)
Analysis of Changes in Operating Profit (YoY Change) The contribution margin declined due to rising SG&A expenses, and higher labor costs led by the wage increase weighed heavily on the profitability, despite our efforts to secure sales volume by active investment in advertising. (Millions of yen) 6
Slide 17: Consolidated net sales by product category (YoY Change)
Consolidated net sales by product category (YoY Change) H1 FY3/2024 H1 FY3/2025 YoY YoY (Millions of yen) % of total % of total results results change % change Delicatessen Products 9,672 35.2 9,447 33.7 (224) 97.6 Kombu Products 7,549 27.5 7,803 27.8 253 103.4 Bean Products 4,365 15.9 4,590 16.4 22
Slide 18: Consolidated Statements of Income for H1 FY3/2025 (vs. Initial Forecast)
Consolidated Statements of Income for H1 FY3/2025 (vs. Initial Forecast) Initial forecast Results Difference YoY % Millions of yen % Millions of yen % Net sales 28,800 100.0 28,055 100.0 (744) -2.6% Cost of sales 20,300 70.5 19,885 70.9 (414) Gross profit 8,500 29.5 8,169 29.1 (330) SG&A expenses 7,
Slide 19: Analysis of Changes in Operating Profit (vs. Initial Forecast)
Analysis of Changes in Operating Profit (vs. Initial Forecast) Labor costs were within the ranges of the forecast at the beginning of fiscal year which incorporated the minimum wage increase. However, net sales missed the initial target despite active advertising on TV, and cost reduction activities
Slide 20: Consolidated Net Sales by Product Category (vs. Initial Forecast)
Consolidated Net Sales by Product Category (vs. Initial Forecast) H1 FY3/2025 % H1 FY3/2025 Difference difference (Millions of yen) Initial % of total % of total results from forecast from forecast forecast Delicatessen products 9,851 34.2 9,447 33.7 (404) 95.9 Kombu products 7,862 27.3 7,803 27.8 (
Slide 21: Changes in Quarterly Net Sales and Operating Profit (YoY Change)
Changes in Quarterly Net Sales and Operating Profit (YoY Change) Operating profit (Millions of yen) Net sales Operating profit margin FY3/2024 results 13,634 170 1.2% Q1 FY3/2025 results 13,931 6 0.0% (Apr.–Jun.) YOY change 296 (163) － YoY % change 2.2% -95.9% － FY3/2024 results 13,831 490 3.5% Q2 F
Slide 22: Consolidated Balance Sheets (vs. Mar. 31, 2024)
Consolidated Balance Sheets (vs. Mar. 31, 2024) As of Mar. 31, 2024 As of Sep. 30, 2024 [Changes] ■ Cash and deposits increased 588 million (Millions of yen) yen. Main factors for the increase are as Current Current Cash and deposits below: Cash and deposits liabilities liabilities 11,340 11,929 9,4
Slide 23: FY2024 Full-year Forecast
FY2024 Full-year Forecast
Slide 24: Measures To Be Taken in H2 FY3/2025 (1)
Measures To Be Taken in H2 FY3/2025 Prioritize securing sales volume after the price increase (1) Increase sales volume by intensive advertising on TV Fujicconi Mamekobachi Obanzai Kobachi Caspian Sea Yogurt Sep. 20–Oct. 20 Oct. 11–Nov. 10 Oct. 11–Nov. 10 Nov. 1–Nov. 30 © FUJICCO Co., Ltd. 24
Slide 25: Measures To Be Taken in H2 FY3/2025 (2)
Measures To Be Taken in H2 FY3/2025 Prioritize securing sales volume after the price increase (2) Expand the sales of Tambaguro Kuromame successfully in the year-end sales campaign Advertising on TV Dec.21–Dec. 31 In-store display Nationwide © FUJICCO Co., Ltd. 25
Slide 26: Consolidated Earnings Forecast (YoY Change)
Consolidated Earnings Forecast (YoY Change) FY3/2024 results FY3/2025 forecast (Millions of yen) YoY change Millions of yen % of net sales Millions of yen % of net sales Net sales 55,715 100.0 58,500 100.0 2,784 Cost of sales 39,271 70.5 40,800 69.7 1,528 Gross profit 16,444 29.5 17,700 30.3 1,255 S
Slide 27: Analysis of Changes in Operating Profit (YoY Change)
Analysis of Changes in Operating Profit (YoY Change) Contribution margin is expected to increase 1.3 billion yen from the comprehensive price increase despite high raw materials prices led by ongoing yen’s depreciation. We aim to increase both sales and profit by making strategic investment to ensur
Slide 28: Consolidated Net Sales by Product Category (YoY Change)
Consolidated Net Sales by Product Category (YoY Change) FY3/2024 FY3/2025 YoY % (Millions of yen) % of total % of total YoY change results forecast change Delicatessen products 19,060 34.2 20,113 34.4 1,053 105.5 Kombu products 15,712 28.2 16,291 27.8 579 103.7 Bean products 9,949 17.9 10,453 17.9 5
Slide 29: Reference: Consolidated Net Sales by Product Category (vs. Initial Forecast)
*Reference: Consolidated Net Sales by Product Category (vs. Initial Forecast) FY3/2025 % FY3/2025 Difference difference (Millions of yen) Initial % of total % of total from initial forecast from initial forecast forecast forecast Delicatessen products 20,392 34.8 20,113 34.4 (279) 98.6 Kombu product
Slide 30: Changes in Consolidated Capital Investment and Depreciation
Changes in Consolidated Capital Investment and Depreciation Capital Investment is implemented mostly as planned and the full-year forecast is 4.3 billion yen. Main Capital Investment in H1 was the line expansion for Obanzaikobachi. The full-year depreciation is expected at the same level as the prev
Slide 31: Forward-looking statements and Contact
This document contains forward-looking statements about the Company's current performance and other forward-looking information currently available to the Company. Actual results may differ from these forecasts due to various conditions and factors in the future, and this document does not guarantee