Seven & I Hldgs Co Ltd (SVNDF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I am Maruyama from 79 Holdings. I would like to express my sincere gratitude for your continued understanding and support for our group. I would also like to thank you for taking the time to attend this briefing today. Now, I would like to start the explanation of the financial results for the second quarter of fiscal year 2024. Please turn to page two. This is an executive summary for today. For the first half of the 2024 fiscal year and the effects of measures implemented in the domestic and overseas CVS business in the second half and beyond, we have revised our four-year earnings forecast. As we have mentioned in the first quarter results announcement, We have been working to turn around and come up with new measures, but in hindsight, the direction of our efforts were either wrong or insufficient. In this situation, we will accelerate our business strategy, add measures, and aim for growth in the next fiscal year. We will also explain the additional measures to further accelerate the specific action plan announced on April 10th. Please turn to page three. This is today's agenda. First, I would like to explain the first half results and the revisions to the four-year earnings forecast, and then Mr. Nagamatsu, President of 7-Eleven Japan, will explain the domestic CVS business. And Mr. Joe DePinto, CEO of 7-Eleven Inc., will explain the North American CVS business. And finally, President Isaka will explain the management policy, including the action plan. So, first of all, Let me explain the results for the first half of fiscal year 2024. Please turn to page 5. These are the highlights of the 2024 first half consolidated results. Operating revenues were 6 trillion 35.5 billion yen, 108.8% year-on-year, or 107.7% vis-à-vis the plan. Operating income was 186.9 billi...