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FY05 / 2024 |
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Whether or not supplementary explanatory materials for quarterly financial results have been created: |
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Whether or not a quarterly Financial results announcement is held: |
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1. Consolidated results for the first quarter of the fiscal year ending May 2024 (May 16, 2023 to August 15, 2023)
(1) Consolidated business results (cumulative) |
(% Display is the rate of increase / decrease from the same quarter of the previous year) |
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amount of sales |
Operating income |
Ordinary profit |
Attribution to the shareholders of the parent company Quarterly net income |
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One million yen |
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One million yen |
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One million yen |
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One million yen |
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First quarter of May 2024 |
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First quarter of the fiscal year ending May 2023 |
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(Note) Comprehensive income |
First quarter of May 2024 |
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One million yen |
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First quarter of the fiscal year ending May 2023 |
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One million yen |
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Per share Quarterly net income |
After adjusting for potential stock Per share Quarterly net income |
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Yen |
Yen |
First quarter of May 2024 |
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First quarter of the fiscal year ending May 2023 |
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(2) Consolidated financial position
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Total assets |
Net worth |
Capital adequacy ratio |
Book value per share |
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One million yen |
One million yen |
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Yen |
First quarter of May 2024 |
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Fiscal year ending May 2023 |
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(Reference) Equity |
First quarter of May 2024 |
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One million yen |
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Fiscal year ending May 2023 |
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One million yen |
2. 2. Dividend status
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Annual dividend |
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End of first quarter |
End of second quarter |
End of third quarter |
Term end |
total |
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Yen |
Yen |
Yen |
Yen |
Yen |
Fiscal year ending May 2023 |
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FY05 / 2024 |
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Fiscal Year Ending May 2024 (Forecast) |
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(Note) Whether or not there is any revision from the recently announced dividend forecast:
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(Percentages indicate year-on-year changes for the full year, and year-on-year changes for quarters.) |
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amount of sales |
Operating income |
Ordinary profit |
Attribution to parent company shareholders Net income |
Per share Net income |
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One million yen |
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One million yen |
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One million yen |
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One million yen |
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Yen |
Second quarter (cumulative) |
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Full year |
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(Note) Whether or not there is any revision from the latest announced business forecast:
* Notes
(1) Changes in significant subsidiaries during the current quarterly consolidated cumulative period (changes in specified subsidiaries due to changes in the scope of consolidation):
(2) Application of accounting treatment specific to the preparation of quarterly consolidated financial statements:
(3) Changes in accounting policies, changes in accounting estimates, and restatements of revisions
① Changes in accounting policies due to revisions to accounting standards, etc .:
(2) Changes in accounting policies other than (1):
③ Change of accounting estimate
④ Correction redisplay
(4) Number of issued shares (common stock)
① Number of issued shares at the end of the period (including treasury stock) |
1Q of May 2024 |
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stock |
Fiscal year ending May 2023 |
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stock |
② Number of treasury stock at the end of the period |
1Q of May 2024 |
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stock |
Fiscal year ending May 2023 |
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stock |
③ Average number of shares during the period (cumulative quarterly) |
1Q of May 2024 |
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stock |
1Q of May 2023 |
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stock |
* Quarterly financial statements are not subject to quarterly reviews by certified accountants or audit corporations.
* Explanation of proper use of business forecasts and other special notes
1. Qualitative Information on Quarterly Financial Results …………………………………………………………………………………… |
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(1) Explanation of operating results ……………………………………………………………………… |
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(2) Explanation of financial position …………………………………………………………………………………………… |
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(3) Explanation of future forecast information such as consolidated earnings forecasts ……………………………………………………………… |
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2. Quarterly Consolidated Financial Statements and Major Notes …………………………………………………………………………………… |
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(1) Quarterly Consolidated Balance Sheet ……………………………………………………………………………………… |
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(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income |
5 |
Quarterly Consolidated Income Statement |
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1st quarter consolidated cumulative period ……………………………………………………………………………………………… |
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Quarterly Consolidated Statement of Comprehensive Income |
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1st quarter consolidated cumulative period ……………………………………………………………………………………………… |
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(3) Notes to Quarterly Consolidated Financial Statements …………………………………………………………………… |
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(Note regarding going concern assumption) ……………………………………………………………………………………… |
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(Note when there is a significant change in the amount of shareholders' equity) ………………………………………………………… |
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(Application of special accounting treatment to the preparation of quarterly consolidated financial statements) |
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(1) Explanation of operating results
The economic situation during the current first quarter consolidated cumulative period (May 16, 2023 to August 15, 2023) is that the economy is slowly recovering as movement restrictions are lifted due to the transition to Category 5 of the new coronavirus infection. This is a trend. Although there are signs of improvement in consumer sentiment, it is necessary to pay attention to the downside risks of overseas economies such as China, Europe, and the United States.
In the drugstore industry, although the competitive environment remains tough as companies expand their store openings, sales of pharmaceuticals and cosmetics are growing as the flow of people recovers, and food products, whose prices have been rising, performed well due to their reasonable prices. On the other hand, there is a cause for concern that consumers' purchasing appetite is slowing down due to successive price increases.
Under these circumstances, our group aims to achieve the new medium-term management plan by improving the accuracy of store openings and promoting renovations, and by expanding the number of affiliated stores, securing the number of prescriptions by using online, and promoting PB (PB). Under the private brand strategy, we have been working on increasing the sales composition ratio by developing new products and promoting sales of existing products, and under the DX strategy, we have been working on introducing our own payment service, utilizing customer data for sales promotions, and developing IT systems. Additionally, in terms of performance management, we have worked to improve profitability and reduce selling, general and administrative expenses by strengthening forecast and actual analysis functions.
Regarding store development, we are working to further strengthen our dominance in existing areas and proceeding with the reform and closure of unprofitable stores to strengthen our competitiveness.From the beginning of the fiscal year, we have opened 30 new stores, taken over the business of one store, and closed 32 stores. . As a result, the number of directly managed Group stores at the end of the fiscal year was 2,588. Regarding our group stores in Thailand, we have closed one store, bringing the number of stores in the country to 17 as of August 15, 2023.
The status of store openings and closings of the Group is as follows: (Unit: Stores)
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beginning of term Number of stores * |
branch store |
Subsidiary etc. |
closed |
Net increase |
End of first quarter Number of stores |
home Dispensing pharmacy |
Hokkaido |
425 |
2 |
1 |
2 |
1 |
426 |
122 |
East and North |
593 |
7 |
- |
6 |
1 |
594 |
145 |
Kanto Koshinetsu |
529 |
6 |
- |
8 |
△2 |
527 |
218 |
Chubu / Kansai |
258 |
3 |
- |
4 |
△1 |
257 |
150 |
China |
345 |
7 |
- |
3 |
4 |
349 |
125 |
Shikoku |
226 |
3 |
- |
4 |
△1 |
225 |
67 |
Kyushu / Okinawa |
213 |
2 |
- |
5 |
△3 |
210 |
37 |
Domestic store total |
2,589 |
30 |
1 |
32 |
△1 |
2,588 |
864 |
In addition to the above, we have 17 overseas stores and 7 franchise stores.
*From the beginning of the current fiscal year, we have reviewed the standards for counting the number of stores such as e-commerce stores and FC stores, and there are some differences between the number of stores at the beginning of the fiscal year and the number of stores at the end of the previous fiscal year.
As a result, the business results for the first quarter of the current consolidated cumulative period were as follows: sales of 259,827 million yen (up 6.8% year on year), operating income of 14,103 million yen (up 5.9% year on year), and ordinary income of 142 million yen. Net income attributable to owners of parent amounted to 8,269 million yen (up 10.2%).
(2) Explanation of financial position
Total assets at the end of the current first quarter consolidated accounting period decreased by 4,659 million yen compared to the end of the previous consolidated fiscal year, to 535,171 million yen. The main reason was a decrease in cash and deposits.
Total liabilities increased by 2,527 million yen compared to the end of the previous fiscal year, to 238,213 million yen. The main reason was an increase in accounts payable due to new store openings.
Total net assets decreased by 7,187 million yen compared to the end of the previous fiscal year, to 296,957 million yen. This was mainly due to a decrease in capital surplus and non-controlling interests due to the additional acquisition of shares in consolidated subsidiary Drug Eleven Co., Ltd.
As a result of the above, the equity ratio decreased by 0.2 points to 51.0%.
(3) Explanation of future forecast information such as consolidated earnings forecasts
There are no changes to the full-year business forecast announced on June 23, 2023.
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(Unit: million yen) |
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Previous consolidated fiscal year (May 15, 2023) |
Current first quarter consolidated accounting period (August 15, 2023) |
Assets |
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current assets |
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Cash and deposits |
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accounts receivable |
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Product |
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Raw materials and supplies |
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Short-term loans receivable |
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others |
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Total current assets |
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Fixed asset |
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Tangible fixed assets |
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Buildings and structures (net) |
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Mechanical equipment and carriers (net amount) |
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Tools, utensils and equipment (net) |
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land |
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Lease assets (net amount) |
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Construction in progress |
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Total property, plant and equipment |
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Intangible fixed assets |
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Goodwill |
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Software |
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Telephone subscription right |
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others |
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Total intangible assets |
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Investments and other assets |
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Investment securities |
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Long-term loan |
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Deferred tax asset |
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Deposit deposit |
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others |
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Allowance for doubtful accounts |
△ |
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Total investment and other assets |
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Total fixed assets |
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Total assets |
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(Unit: million yen) |
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Previous consolidated fiscal year (May 15, 2023) |
Current first quarter consolidated accounting period (August 15, 2023) |
Debt section |
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Current Liabilities |
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Accounts payable |
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Long-term borrowing scheduled to be repaid within one year |
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Accounts payable |
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Lease debt |
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Income taxes payable, etc. |
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Contract liability |
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Bonus reserve |
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Reserve for directors' bonuses |
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Point reserve |
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others |
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Total current liabilities |
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Fixed liabilities |
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Long-term borrowing |
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Lease debt |
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Deferred tax liability |
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Retirement Benefit Revenue |
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Asset retirement obligations |
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others |
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Total fixed liabilities |
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Total debt |
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Of Net Assets |
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Shareholders' equity |
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Capital |
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Capital surplus |
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an earned surplus |
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Treasury stock |
△ |
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Total shareholders' equity |
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Accumulated other comprehensive income |
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Valuation difference on other securities |
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Accumulated adjustment for retirement benefits |
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Total other comprehensive income |
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Stock acquisition right |
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Non-controlling interests |
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Total net assets |
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Total liabilities and net assets |
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(Unit: million yen) |
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First quarter of the previous consolidated cumulative period (From May 16, 2022 To August 15, 2022) |
First quarter consolidated cumulative period (From May 16, 2023 (to August 15, 2023) |
amount of sales |
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Cost of sales |
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Gross profit |
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Selling, general and administrative expenses |
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Operating income |
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Non-operating income |
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Interest income |
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Dividend income |
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Subsidy income |
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Equipment donations |
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Rent received |
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Compensation received |
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Insurance money received |
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others |
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Total non-operating income |
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Non-operating expenses |
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Interest expense |
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Premature cancellation penalty |
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Closed store related expenses |
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others |
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Total non-operating expenses |
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Ordinary profit |
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Extraordinary loss |
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Loss on retirement of fixed assets |
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Impairment loss |
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Loss due to disaster |
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Total extraordinary loss |
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Income before tax adjustment |
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Income Taxes |
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Quarterly net income |
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Quarterly net income attributable to non-controlling interests |
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Quarterly net income attributable to owners of the parent company |
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(Unit: million yen) |
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First quarter of the previous consolidated cumulative period (From May 16, 2022 To August 15, 2022) |
First quarter consolidated cumulative period (From May 16, 2023 (to August 15, 2023) |
Quarterly net income |
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Other comprehensive income |
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Valuation difference on other securities |
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Adjustment amount for retirement benefits |
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△ |
Total other comprehensive income |
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Quarterly comprehensive income |
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(breakdown) |
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Quarterly comprehensive income for parent company shareholders |
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Quarterly comprehensive income for non-controlling interests |
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Not applicable.
Not applicable.
(Calculation of tax costs)
Tax expenses are calculated by reasonably estimating the effective tax rate after applying tax effect accounting to income before income taxes for the consolidated fiscal year including the first quarter of the fiscal year under review, and multiplying quarterly net income before income taxes by the estimated effective tax rate. is calculated.
However, if the calculation of tax costs using the estimated effective tax rate results in a significantly unreasonable result, the statutory effective tax rate is used.
The amount of corporate tax adjustment is included in the corporate tax.