Supplementary
Materials
for the First Quarter of the Fiscal Year
Ending March 31, 2025
(Three Months Ended June 30, 2024)
August 8, 2024
AOKI Holdings Inc.
Contents
Three Months of FY3/25 Review of Operations
Three Months of FY3/25 Result by Segment
Supplementary Documents
Note : All monetary figures are rounded down.
3
9
13
AOKI Holdings Inc. | 2 |
Three Months of FY3/25 Review of Operations
Three Months of FY3/25 Results Summary
Business climate
- End of post-pandemic demand recovery
- Rise in raw material prices and depreciation of the yen
- Shortage of employees and rise in personnel expenses
- Rise in average temperature
AOKI Group
- Favorable results of existing stores in all business segments
- Higher first quarter sales and earnings for the fourth consecutive fiscal year
- Appropriate measures as needed in response to rising costs
- Sales and earnings exceeding the forecasted progress for the fiscal year ending March 31, 2025
Sales | 42.8 billion yen |
(up 3.2% YoY) | |
Ordinary | 2.2 billion yen |
profit | |
(up 1.2% YoY) | |
Operating | 2.3 billion yen |
profit | |
(up 3.3% YoY) | |
Profit attributable | 1.6 billion yen |
to owners of parent | (up 12.7% YoY) |
AOKI Holdings Inc. | 4 |
Three Months of FY3/25 Results
1Q FY3/25
(Billions of yen) | ||||||||||||||||||||||||||||
42.8 | 25.7 | |||||||||||||||||||||||||||
Sales | Cost | Sales | ||||||||||||||||||||||||||
of | ||||||||||||||||||||||||||||
sales | ||||||||||||||||||||||||||||
Extraordinary income | ||||||||||||||||||||||||||||
• Gain on sale of investment securities | ||||||||||||||||||||||||||||
17.1 | 14.7 | |||||||||||||||||||||||||||
Extraordinary losses | ||||||||||||||||||||||||||||
Gross | SG&A | |||||||||||||||||||||||||||
• Impairment loss | ||||||||||||||||||||||||||||
profit | expenses | |||||||||||||||||||||||||||
Non- | Non- | Extraordinary | ||||||||||||||||||||||||||
operating operating | Profit | |||||||||||||||||||||||||||
Operating | profit | expenses | income | Total income | ||||||||||||||||||||||||
profit | 0.06 | 0.2 | 0.2 | taxes | attributable | |||||||||||||||||||||||
to owners | ||||||||||||||||||||||||||||
Extraordinary | 0.7 | of parent | ||||||||||||||||||||||||||
2.3 | 2.2 | losses | 2.3 | |||||||||||||||||||||||||
0.07 | 1.6 | |||||||||||||||||||||||||||
Ordinary | Profit before | |||||||||||||||||||||||||||
Major components | profit | income taxes | ||||||||||||||||||||||||||
Sales | Increase in existing-store sales in all business segments | Operating profit | Increase in operating profit due to higher existing-store | |||||||||||||||||||||||||
sales and improved gross profit margin |
Gross profit | Gross profit margin: up 0.2pt YoY | Extraordinary |
income | ||
SG&A | Increase in advertising expenses and personnel expenses , | Extraordinary |
expenses | SG&A expense ratio: up 0.2pt YoY | losses |
Increase Gain on sale of investment securities , Decrease in settlements received
Decrease in impairment loss
AOKI Holdings Inc. | 5 |
Consolidated Profit and Loss
(Millions of yen) | ||||||
Account/Period | First Quarter | First Quarter | Change | YoY % | ||
of FY3/24 | of FY3/25 | |||||
Sales | 41,549 | 42,887 | 1,338 | 103.2 | ||
Gross profit | 16,481 | 17,124 | 643 | 103.9 | ||
Gross profit margin | 39.7% | 39.9% | +0.2pt | |||
Selling, general and administrative | 14,203 | 14,770 | 567 | 104.0 | ||
expenses | ||||||
Operating profit | 2,278 | 2,354 | 75 | 103.3 | ||
Operating margin | 5.5% | 5.5% | +0.0pt | |||
Non-operating profit | 88 | 66 | -22 | 74.5 | ||
Non-operating expenses | 180 | 207 | 27 | 115.0 | ||
Ordinary profit | 2,187 | 2,213 | 26 | 101.2 | ||
Extraordinary income | 500 | 226 | -273 | 45.4 | ||
Extraordinary losses | 86 | 71 | -14 | 82.7 | ||
Profit attributable to owners of parent | 1,439 | 1,623 | 183 | 112.7 | ||
Net income per share (yen) | 17.06 | 19.32 | 2.26 | - | ||
AOKI Holdings Inc. | 6 |
Three Months of FY3/25 Results by Segment
Sales and earnings exceeding the forecasted progress for the fiscal year in all segments
Lower profit due to a decline in gross profit margin and an increase in SG&A expenses, offset by higher sales from | ||
Fashion | the steady performance of existing stores. | |
• Change in existing-store sales: up 4.1% (forecast: up 3.1%) | ||
• Change in existing-store number of customer: up 1.8% (forecast: up 0.8%) | ||
• Change in existing-store sales per customer: up 2.3% (forecast: up 2.3%) | ||
Higher sales and earnings due to an increase in existing-store sales, record-high operating profit for a first quarter | ||
Entertainment | • Change in existing-store sales: up 2.5% (forecast: up 0.4%) | |
• Change in existing-store number of customer: up 2.2% (forecast: up 0.3%) | ||
• Change in existing-store sales per customer: up 1.0% (forecast: up 0.5%) | ||
Slightly lower profit due to a decrease in the number of weddings at existing locations, offset by higher sales with | ||
Anniversaire and Bridal | operation of ANNIVERSAIRE OMOTESANDO which had been closed during the same period last year | |
• Change in the number of weddings at existing locations: down 2.8% (forecast: down 3.0%) | ||
• Change in sales per couple at existing locations: up 0.1 (forecast: down 1.6%) | ||
Sales | Operating profit/loss |
(Billions of yen)
41.5
1.2
2.0
18.0
21.1
+3.2％
+32.2％ |
+15.6％ |
+0.9％
+3.3％
42.8
1.6
2.3
18.2
21.8
(Billions of yen)
2.2
0.2
1.1
1.2
+3.3％
+76.6％ |
+24.8％
-29.0％
2.3
0.3
1.4
0.9
-0.2 | -0.2 |
1Q FY3/24 | 1Q FY3/25 | 1Q FY3/24 | 1Q FY3/25 | ||
■ Fashion | ■ Entertainment | ■ Anniversaire/Bridal | ■ Real Estate Leasing | ||
*The sum of the business segment items does not match the total because of inter-segment eliminations. | |||||
AOKI Holdings Inc. | 7 |
3-Year Summary of First Quarter
Sales
(Billions of yen)
39.2 41.5 42.8
1Q FY3/23 | 1Q FY3/24 | 1Q FY3/25 |
Sales composition by segment (%)
2.9 | 3.0 | 3.8 |
5.4 | 4.8 | 5.4 |
39.3 | 42.5 | 41.3 |
52.4 | 49.7 | 49.5 |
1Q FY3/23 | 1Q FY3/24 | 1Q FY3/25 |
- Fashion ■ Entertainment
Operating profit/ Operating margin
(Billions of yen) | 2.3 | 10 | ||||||
2.2 | 9 | |||||||
8 | ||||||||
1.5 | 7 | |||||||
5.5% | 5.5% | |||||||
6 | ||||||||
3.9% | 5 | |||||||
4 | ||||||||
3 | ||||||||
2 | ||||||||
1 | ||||||||
0 | ||||||||
1Q FY3/23 | 1Q FY3/24 | 1Q FY3/25 |
Operating profit composition by segment (%)
11.7 | 8.9 | |||
2.3 | 15.1 | |||
17.7 | ||||
48.2 | ||||
58.0 | ||||
68.3 | ||||
51.4 | 35.2 | |||
-8.4 | -8.3 | |||
1Q FY3/23 | 1Q FY3/24 | 1Q FY3/25 | ||
■ Anniversaire/Bridal | ■ Real Estate Leasing |
AOKI Holdings Inc. | 8 |
Three Months of FY3/25 Result by Segment
Fashion Business: First Quarter of FY3/25 Review of Operations
Lower profit due to a decline in gross profit margin and an increase in SG&A expenses, offset by higher sales from the steady performance of existing stores.
Sales | Operating profit / Operating margin | ||||||||||||||||
(Millions of yen) | (Millions of yen) | ||||||||||||||||
Sales: up 3.3% YoY |
|
25,000
20,000
15,000
10,000
5,000
2,000
21,803
21,106
1,000
1,279
907
6.1%
4.2%
Operating profit: down 29.0% YoY |
Major components
Existing-store sales: up 4.1% YoY |
Declined sales of suits and other heavy clothing due to |
the configuration of the day of the week in April, etc. |
Strong sales of Pajama Suits and other casual |
clothing |
Strong sales of Cool Biz-related products due to rising |
temperatures |
Gross profit margin: down 1.0pt YoY |
0 | 0 | ||
1Q | 1Q | 1Q | 1Q |
FY3/24 | FY3/25 | FY3/24 | FY3/25 |
(Millions of yen) | |||
1Q FY3/25 | |||
YoY % | % to sales | ||
Sales | 21,803 | 103.3 | 100.0 |
Gross profit | 12,675 | 101.6 | 58.1 |
SG&A expenses | 11,767 | 105.1 | 54.0 |
Operating profit | 907 | 71.0 | 4.2 |
Rising purchase prices |
Declined sales of high-margin heavy clothing |
Increased mailings of discount coupons and |
increased allotment of limited-time discount points |
SG&A expenses: up 5.1% YoY |
Higher advertising expenses: up 21.1% YoY |
Higher personnel expenses: up 5.2% YoY |
SG&A expense ratio: up 1.0pt YoY |
AOKI Holdings Inc. | 10 |