Financial Results for Q2, FY2023 March 1, 2023 - August 31, 2023
October 10, 2023
Contents | 1 |
Financial Results for Q2, FY2023 March 1, 2023 - August 31, 2023
Financial Results for Q2, FY2023
Overview of Consolidated Results・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 3
Operating Income Factors Causing Deviation From Plan・・・・・・・・・・・・・・・・・・・・・ P 4
Change in Profit (Loss) by Segment・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 5
Existing Mall Specialty Store Sales by Country, Year-on-Year・・・・・・・・・・・・・・・・・・・・ P 6
Q2 Topics・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 7
Overseas: Specialty Store Sales at Existing Malls, Year-on-Year (by Business Model)・・・・・・・・・・ P 8
Japan Specialty Store Sales, Year-on-Year (91 Existing Malls)・・・・・・・・・・・・・・・・・・・ P 9
Income Statement Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 10
Balance Sheet Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 11
Cash Flow Statement Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 12
Three-YearMedium-Term Management Plan (FY2023-FY2025) Update
Three-YearMedium-Term Management Plan Growth Policy・・・・・・・・・・・・・・・・・・・・・ P 14
China Expanded Mall Openings in High-Growth Inland Regions・・・・・・・・・・・・・・・・・・・・ P 15
Improve Value Offerings Through the Effective Use of Existing Assets・・・・・・・・・・・・・・・・・ P 16
Mall Opening Models Tailored to Each Market・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 17
Pursuing Development Patterns Tailored to the Characteristics of Each Location・・・・・・・・・・・・ P 18
Exploring New Possibilities in Virtual Space・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 19
Generating Renewable Energy Locally for Local Consumption・・・・・・・・・・・・・・・・・・・・・ P 20
Circular Malls・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P 21
Three-YearMedium-Term Management Plan (FY2023-FY2025) Growth Policy
Three-YearMedium-Term Management Plan Growth Policy・・・・・・・・・・・・・・・・・・・・・
Pursue a Regional Shift in Japan and Overseas・・・・・・・・・・・・・・・・・・・・・・・・・・・
Creating a Platform for Health and Wellness・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Discover and Commercialize Business Opportunities in Overseas Growth Markets・・・・・・・・・・・・
Accelerate Mall Openings in Priority Areas・・・・・・・・・・・・・・・・・・・・・・・・・・・・
New Business Development to Solve Local Issues・・・・・・・・・・・・・・・・・・・・・・・・
Pursue Business Model Innovation in Japan・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Diversify Value Offerings Tailored to the Market・・・・・・・・・・・・・・・・・・・・・・・・・・
Improve Profitability Through the Effective Use of Existing Assets・・・・・・・・・・・・・・・・・・
Implement Fundamental Business Structure Reforms・・・・・・・・・・・・・・・・・・・・・・・
Create New Business Models That Break From Existing Business Frameworks・・・・・・・・・・・・・
Expand Office Complex Development Functions・・・・・・・・・・・・・・・・・・・・・・・・・
Pursue Initiatives to Create New Businesses・・・・・・・・・・・・・・・・・・・・・・・・・・・
Build Strong Financial Foundations and Resilient Organizations From the Perspective of Sustainability・・・
Strengthen Management Supervision and Establish a Nimble Business Execution System・・・・・・・・・
Pursuing Diversity・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Three-YearMedium-Term Management Plan (FY2023-FY2025) Numerical Plans
Long-TermVision・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Medium- and Long-Term Numerical Targets・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Consolidated Plan for FY2023 (ending February 29, 2024)・・・・・・・・・・・・・・・・・・・・・・
Sales Assumptions Under the FY2023 Earnings Plan・・・・・・・・・・・・・・・・・・・・・・・・
Three-Year New Mall Opening Plan・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Three-Year Capital Investment and Funds Acquisition Plan・・・・・・・・・・・・・・・・・・・・・・
Target Performance Indicators・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Shareholder Returns・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
Attachments (Mall Data)
Property List ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
- 24 P 25 P 26 P 27 P 28 P 29 P 30 P 31-32 P 33-34 P 35 P 36 P 37 P 38-39 P 40-42 P 43 P 44
- 46 P 47 P 48 P 49 P 50 P 51 P 52 P 53
P 55-60
2
Financial Results for Q2, FY2023
Financial Results for Q2, FY2023 | 3 |
Overview of Consolidated Results | |
■Consolidated Statements of Income
FY2023 | FY2022 | YoY Change | ||
Q2 Actual | Q2 Actual | Change | % | |
Operating revenue | 210,807 | 194,104 | +16,703 | 108.6 |
Operating costs | 169,881 | 156,457 | +13,423 | 108.6 |
Gross profit | 40,926 | 37,647 | +3,279 | 108.7 |
Selling, general and | 16,498 | 14,821 | +1,677 | 111.3 |
administrative expenses | ||||
Operating income | 24,428 | 22,826 | +1,602 | 107.0 |
Ordinary income | 19,674 | 18,533 | +1,141 | 106.2 |
Net income attribute | 10,505 | 7,122 | +3,382 | 147.5 |
to owners of parent | ||||
Net income per share (yen) | 46.16 | 31.30 | +14.86 | - |
(Unit: ¥, Millions) | ||
1H Plan | ||
Progress rate | Change | |
(%) | ||
220,000 | 95.8 | -9,192 |
- | - | - |
- | - | - |
- | - | - |
27,500 | 88.8 | -3,071 |
22,500 | 87.4 | -2,825 |
15,000 | 70.0 | -4,494 |
65.91 | - | -19.75 |
・Record-high operating revenue. While we secured profit growth at each profit measurement, we did not meet first half plans.
・Deviation from plan for net income attributable to owners of parent was due to a 650 million yen provision for loss on store closing in connection with the termination of management and operations for QUALITE PRIX, as well as a 500 million yen loss on disposal associated with revitalization (both budgeted for the second half of the fiscal year).
・We plan to narrow the gap between plan and results for net income by growing revenue, increasing profits by lowering expenses, and reducing extraordinary losses associated with major structural reforms.
Financial Results for Q2, FY2023 | 4 | ||
Operating Income | Factors Causing Deviation From Plan | ||
Japan | |||
1H
Operating Income Plan
¥20.2 billion
1H | |||
-¥3.0 Billion | |||
Operating | |||
Income Plan | vs. Plan | ||
¥27.5 billion | Japan | ||
-¥2.0 billion |
-¥2.0 billion vs. Plan
Revenue | 1H |
-¥6.6 billion | |
Operating Income | |
Expenses | Results |
¥18.1 billion |
-¥4.6 billion
Main Factors Behind Revenue Decrease
- Existing mall sales (year on year) for the first half +7.6% compared to plan of +12.0%.
- Income from water and utility expenses were -1.9 billion yen compared to plan.
Main Factors Behind Expense Reductions
・Water and utilities expenses were
-3.0 billion yen compared to plan.
Overseas | Overseas | |||||
-¥1.0 billion | ||||||
Vietnam | ||||||
・China and Vietnam were generally in line | ||||||
1H | +¥300 million | |||||
with plan. | ||||||
Operating | ||||||
China | -¥1.0 billion | ・Existing mall sales in China were +29.0% | ||||
Income Results | Cambodia | |||||
-¥300 million | vs. plan | compared to plan of +30.0% for the first | ||||
¥24.4 billion | 1H | -¥600 million | half. | |||
Operating | Indonesia | ・Existing mall sales in in Vietnam were | ||||
-¥400 million | ||||||
Income Plan | +9.7% compared to plan of +10.0% for the | |||||
¥7.3 billion | 1H | first half. | ||||
・Results in Cambodia were affected by | ||||||
Operating Income Results | ||||||
¥6.2 billion | vacancies in the third mall opened last | |||||
year, resulting in performance of -600 | ||||||
million yen compared to plan. | ||||||
・Indonesia experienced delays in resolving | ||||||
vacant floor space, resulting in | ||||||
performance of -400 million yen compared | ||||||
to plan. |
・In addition to ongoing customer-attracting events, we plan to increase revenue by leveraging mall assets.
・Amid soaring electricity prices, AEON MALL intends to reduce expenses by generating locally produced, locally consumed renewable energy and by reducing electricity consumption through efficient mall operations.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Aeon Mall Co. Ltd. published this content on 10 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2023 06:15:22 UTC.