McDonald Japan : Overview of Consolidated Financial Results for the Six Months Ended June 30, 2023
August 10, 2023 at 02:31 am EDT
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August 10, 2023
To whom it may concern,
McDonald's Holdings Company (Japan), Ltd.
Representative Director, President and CEO Tamotsu Hiiro (Code No.: 2702 TSE Standard)
Inquiries: McDonald's Company (Japan), Ltd. Director, Chief Financial Officer Shuko Yoshida TEL: 03-6911-6000
Consolidated Financial Results for the Six Months Ended June 30, 2023
McDonald's Holdings Company (Japan), Ltd. hereby announces its consolidated financial results for the six months (January 1, 2023 to June 30, 2023) of the fiscal year ending December 31, 2023 (January 1, 2023 to December 31, 2023).
Highlights
Sales increased on a year-on-year basis due mainly to initiatives of Medium-term Management Plan and price revisions. Same-store sales recorded 31 consecutive quarters of growth.
Operating Income, Ordinary Income, and Net Income for the period increased on a year-on-year basis due to the sales increase and various cost control initiatives, despite ongoing cost increases by changes in the external environment since last year. Business is making progress generally in line with expectations.
We will continue to implement the Medium-Term Management Plan and various strategies and invest for the future to achieve steady growth.
(In Millions of Yen)
Cumulative Period of the 2nd Quarter 2023
Actual
2022
vs. Last
vs. Last
Actual
Year
Year (%)
All Store Sales*
372,148
342,020
+30,127
+8.8%
Consolidated Net Sales
182,460
168,227
+14,232
+8.5%
Consolidated Operating Income
18,011
17,479
+532
+3.0%
Consolidated Ordinary Income
17,980
17,323
+657
+3.8%
Net Income Attributable to Owners of Parent
11,370
11,013
+357
+3.2%
All Store Sales: combined sales of company-operated and franchised restaurants The 2nd Quarter (cumulative) 2023 vs. Last Year (%)
System-wide Sales
Same-store Sales
Same-store GC
Same-store AC
+8.8%
+7.4%
-1.7%
+9.2%
All Store Sales for the 2nd quarter (cumulative) were 372.1 billion yen, up 30.1 billion yen compared to the same period of the last year due to proactive investment in marketing, restaurants, and people based on the Medium-Term Management Plan and our price revisions.
Operating Income increased by 0.5 billion yen to 18.0 billion yen, Ordinary Income increased by 0.6 billion yen to 17.3 billion yen, and Net Income Attributable to Owners of the Parent increased by 0.3
billion yen to 11.3 billion yen. These increases in profits are due to the sales increase and the cost control initiatives, despite ongoing cost increases from the external environment change, such as fluctuating foreign exchange rates and rising costs of raw materials and logistics. Business is making progress generally in line with expectations.
Moving forward, we will continue to be thorough in the areas of safety and security, the foundation of our business, while aiming to enhance customer satisfaction through improved store experience. Furthermore, we will strive to contribute to local communities and become a brand that is loved by everyone and aim to achieve our full-year and medium-term management targets.
EOD *This document is distributed to Kabuto Club, Tokyo Chamber of Commerce Press Club, and Eating Out Industry Press Club.
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McDonald's Holdings Co (Japan) Ltd. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 06:30:07 UTC.
McDonald's Holdings Company (Japan), Ltd. is a Japan-based holding company engaged in the operation of hamburger restaurants under the name McDonald's through its subsidiaries and affiliated companies. The Company is also engaged in the franchise business, as well as the provision of management know-how and sub-licenses to franchisees, among others.