Slide 1: Financial Results Briefing for the Second Quarter of the Fiscal Year Ending March 2024
Financial Results Briefing for the second Quarter of the Fiscal Year Ending March 2024 Goldwin Inc. (8111) November 7, 2023 Copyright © GOLDWIN INC. All Rights.
Slide 2: Table of contents
Table of contents Ⅰ. Second quarter results for the fiscal year P.3 ～ P.12 ending March 2024 Ⅱ. Full year outlook for the fiscal year ending P.13 ～ P.18 March 2024 Ⅲ. Main issues towards achieving full-year forecasts P.19 ～ P.26 Copyright © GOLDWIN INC. All Rights. 1
Slide 3: Overall picture of second quarter financial results
Overall picture of second quarter financial results Full year Interphase 1 Monthly results Each month exceeds the same 3 month of the previous year Base-up Personnel 1.3 2.3 Business Performance led by double costs billion yen billion yen digit increase J-ESOP category Advertising 1 1 Directly manag
Slide 4: I. Second quarter results for the fiscal year ending March 2024
I. Second quarter results for the fiscal year ending March 2024 Both sales and profits exceeded initial forecasts due to the effects of the intense heat, inbound demand, and improved sales efficiency.
Slide 5: Key points of the Second Quarter Results
Key points of the Second Quarter Results Both sales and profits reached record highs for the second quarter (Million yen) Sales THE NORTH FACE is experiencing growth in demand due to the resumption of events such as travel, sports, and outdoor festivals, in addition to the recovery in mountaineeri
Slide 6: Second Quarter Results Summary
Second Quarter Results Summary Second Quarter Results （Million yen） Net sale Gross profit Operating income Ordinary income Net income Result 51,096 25,959 6,070 9,180 7,323 Year-on-year 112.8% 112.9% 115.0% 123.2% 125.3% Profit margin on 50.8% 11.9% 18.0% 14.3% sales ( ) indicates previous － （50.7%）
Slide 7: Second Quarter performance trends by business segment
Second Quarter performance trends by business segment Sales by business category（ Million yen ） Performance Lifestyle Fashion Result 18,157 28,606 4,333 Year-on-year comparison 111.6% 111.6% 127.3% Year-on-year amount +1,882 +2,976 +930 Sales composition ratio 35.5% 56.0% 8.5% (Million yen) Performa
Slide 8: Trends in quarterly EC sales
Trends in quarterly EC sales While directly managed stores are expected to see double-digit growth, EC sales are expected to remain flat. However, there has been significant progress in collaboration between directly managed stores and EC. (Million yen) 1Q 2Q 3Q 4Q EC sales ratio 16,000 13.4% 15% 12
Slide 9: Trends in self-managed sales ratio and directly managed stores
Trends in self-managed sales ratio and directly managed stores Maintain stable trends in line with the self-managed sales ratio of 60%, which is the target in the medium-term management plan Trends in self-managed sales ratio and number of directly managed stores （store） Number of directly managed s
Slide 10: Progress in measures to increase gross profit margin
Progress in measures to increase gross profit margin After bottoming out in the first quarter, we expect a full-year gross profit margin of 52.5% by promoting measures to improve the gross profit margin. Initiatives until the Second Quarter Results and prospects Cost price We reduce the risk of pr
Slide 11: Gross profit margin outlook
Gross profit margin outlook Outlook for full-year gross profit margin of 52.5% remains unchanged 58% Fiscal year ending 56.5% March 2024 Gross profit margin is 56% assumed to be 52.5% 54% 52% 51.0% 51.0% 50% 50.6% 48% 1Q 2Q 3Q 4Q FY2023.3 results Average of the last 4 periods FY2024.3 outlook 1Q 2Q
Slide 12: Changes in inventory balance
Changes in inventory balance The main reason for this was early inventory arrivals in preparation for the fall/winter season. Furthermore, the increase was due to the full-scale operation of the Kanto logistics base. Quarterly inventory balance trends (Million yen) inventory Year-on-year Inventories
Slide 13: Second Quarter balance sheet
Second Quarter balance sheet Equity 連結貸借対照表ratio increased by 2.6 points year-on-year due to stable profit growth （単位：百万円） Current assets Current Liabilities Net worth Fixed asset Fixed liability (Million yen) 32,057 27,372 69,603 4,393 27,945 51,515 4,535 33,701 46,399 45,875 5,812 7,357 85,366 66,
Slide 14: II. Full year outlook for the fiscal year ending March 2024
II. Full year outlook for the fiscal year ending March 2024 Maintaining sales trend until second quarter Considering revisions to full-year forecasts based on third quarter results
Slide 15: Financial forecast for the fiscal year ending March 2024
(No revisions) Full year financial forecast summary for the fiscal year ending March 2024 Aiming for long-term growth by achieving sales of over 120 billion yen and at the same time striving to maintain and improve profitability. Financial forecast for the fiscal year ending March 2024（Million yen）
Slide 16: Performance forecast by business segment
(No revisions) Performance forecast by business segment Sales are expected to increase in all business segments. Anticipating a full-fledged recovery in inbound demand, we expect double-digit sales growth in fashion. Sales by business category（Million yen） Performance Lifestyle Fashion Outlook 40,00
Slide 17: Comparison of sales by business segment with previous fiscal year and forecast
(No revisions) Comparison of sales by business segment with previous fiscal year and forecast Recovery in personal consumption due to relaxation of behavioral restrictions contributed to all business segments Initial outlook Current outlook (Million yen) (Million yen) 130,000 Fashion 130,000 Fashion
Slide 18: Graph of factors contributing to changes in operating income
Graph of factors contributing to changes in operating income The 1 billion yen increase in personnel costs is mainly due to J-ESOP additions. The increase in SG&A expenses is expected to be absorbed by the effect of increased sales. Operating profit outlook Initial outlook Current outlook (Million y
Slide 19: Changes in shareholder returns and dividend payout ratio
Changes in shareholder returns and dividend payout ratio For FY2024.3, the interim dividend will be 30 yen, the year-end dividend will be 85 yen, and the full year dividend will be 115 yen, with a payout ratio of 23.9%. (yen) （%） Midterm end The end of the term Payout ratio 120 35 100 30 29.6 23.6 2
Slide 20: III. Main issues towards achieving full year forecasts
III. Main issues towards achieving full year forecasts Sales are trending higher than the initial forecast, and we are accelerating investment to build a management foundation from both an offensive and defensive perspective.
Slide 21: Preconditions for full-year performance forecast
Preconditions for full-year performance forecast South Korean YOC sales are significantly exceeding initial forecasts, and other progress is generally as expected. Prerequisites Second Quarter results Full year outlook The number of customers visiting stores, mainly in urban areas, has recovered and
Slide 22: South Korean YOC (Youngone Outdoor Corporation) situation
South Korean YOC (Youngone Outdoor Corporation) situation The flagship store in Myeong-dong, which was renovated at the end of March 2023, is driving sales. TNF White Label promotion measures were successful, the number of Generation Z customers is increasing, and we are developing a stable supply b
Slide 23: Collaboration with Spiber will lead to mass production and four brands sold worldwide
Collaboration with Spiber will lead to mass production and four brands will be sold worldwide Spiber's Thailand plant begins operation Brewed Protein™ manufacturing process 1 Design and synthesize genes 2 Introducing genes into microorganisms 3 Cultivating microorganisms (fermentation) Brewing tank
Slide 24: Summary
Summary Second quarter results for the fiscal year ending March 2024 are record highs for both sales and profits Relaxation of behavioral regulations will have the effect of increasing sales for many brands. In particular, directly managed stores are performing well due to a recovery in inbound dema
Slide 25: Main inquiries from institutional investors
First quarter financial results announcement Main inquiries from institutional investors Factors contributing to the decline in gross profit margin in the First Quarter The main reason for the decline in the gross profit margin in the first quarter was an increase in the cost of sales ratio due to
Slide 26: Second Quarter income statement summary
Second Quarter income statement summary 1Q 2Q First half cumulative total FY21.3 FY22.3 FY23.3 FY24.3 FY21.3 FY22.3 FY23.3 FY24.3 FY21.3 FY22.3 FY23.3 FY24.3 Net sale 12,200 17,078 21,099 23,150 19,358 21,130 24,210 27,946 31,558 38,208 45,309 51,096 Gross 6,330 8,986 11,122 11,710 9,799 10,514 11,8
Slide 27: Corporate data
Corporate data Company name GOLDWIN INC. Tokyo Head Office: 150-8517, Japan 2-20-6 Shoto, Shibuya-ku, Tokyo Location 03-3481-7201 (Representative) Toyama Head Office: Kiyozawa 210, Oyabe-shi, Toyama 932-0112, Japan 0766-61-4800 (Representative) Establishment December 22, 1951 Capital stock 7,079 mil