Term 2020.3 (Apr. 2019~Dec. 2019) Outline of Financial Results
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Term 2020.3 (Apr. 2019~Dec. 2019) Outline of Financial Results Towson Town Center (Towson, Maryland) December 7, 2019 open! Analysis of consolidated operating results ① Apr. 2019~Dec. 2019 Actual [Year-on-year] ※(Unit ¥bn) ※Figures below ¥10 million have been truncated. Percentage is rounded off to one decimal place. ① [Differ in number of stores] Term 2019.3 Actual Term 2020.3 Actual Unit Differ(%) Japan (103 stores): 2 store closings (2018.4~2018.12) (2019.4~2019.12) The USA (39 stores): 11 store openings ② Total stores at the end [Ordinary income] of the term ① Store 133 142 +6.8 Stores No. of months total Term 2019.3 3rd Q Actual Ordinary income ¥ 5.04bn stores operation Month 1,160 1,233 +6.3 ◆Japan Ordinary income & loss +¥0.77bn Bowling 16.96 17.44 +2.8 [Breakdown] Increase in sales +¥1.25bn Amusement 35.74 39.36 +10.1 Decrease in communication exp. +¥0.15bn Karaoke Decrease in rent fee +¥0.15bn (including other sales of the USA) 7.80 8.50 +9.1 Decrease in utility exp. +¥0.11bn Spo-cha 9.25 9.42 +1.8 Increase in commission fee ¥(0.34)bn Others 2.13 2.31 +8.7 Increase in depreciation ¥(0.29)bn Increase in lease fee ¥(0.14)bn Total sales 71.89 77.04 +7.2 Increase in repairing exp. ¥(0.13)bn Others +¥0.01bn Cost of sales 64.42 68.75 +6.7 ◆The USA Ordinary income & loss ¥(0.18)bn Gross profit 7.46 8.28 +11.0 Increase in income due to increase in [Breakdown] +¥0.76bn P / L S.G.A. expenses 2.21 2.54 +14.9 No. of months total stores operation Decrease in existing stores income ¥(0.49)bn Operating income 5.25 5.74 +9.3 Increase in initial investment ¥(0.23)bn Non-operating income & Increase in S.G.A. exp. ¥(0.19)bn expenses (0.21) (0.18) +12.7 Others ¥(0.03)bn ② ◆China & Russia preparation exp. Ordinary income 5.04 5.55 +10.3 ¥(0.08)bn for opening stores Ordinary income margin 7.0% 7.2% ― Term 2020.3 3rd Q Actual Ordinary income ¥ 5.55bn Extraordinary income & loss ③ (0.41) (0.32) +21.0 Net income before tax 4.62 5.23 +13.0 ③[Extraordinary income & loss breakdown] Term 2019.3 3rd Q Actual Extraordinary loss ¥(0.41)bn Corporate tax 1.34 1.70 +26.0 ・Loss on disposal of fixed assets, etc. ¥(0.41)bn Net income 3.27 3.53 +7.7 Term 2020.3 3rd Q Actual Extraordinary loss ¥(0.32)bn ・Loss on disposal of fixed assets, ect. ¥(0.32)bn -1- Analysis of consolidated operating results ② Apr. 2019~Dec. 2019 Actual [Actual and Plan] ※(Unit ¥bn) ※Figures below ¥10 million have been truncated. Percentage is rounded off to one decimal place. Term 2020.3 Plan Term 2020.3 Actual ① [Ordinary income] Unit (2019.4~2019.12) Differ(%) ※Announced on (2019.4~2019.12) November 8 2019. Term 2020.3 3rd Q Plan Ordinary income ¥6.07bn Total stores at the end of Store the term 142 142 ― Stores No. of months total ◆Japan Ordinary income & loss ¥(0.31)bn stores operation Month 1,233 1,233 ― [Breakdown] Decrease in sales ¥(0.45)bn Bowling 17.51 17.44 (0.4) Decrease in promotion exp. (Due to amusement merchandise exp. decrease) +¥0.10bn Amusement 39.43 39.36 (0.2) Decrease in lease fee +¥0.06bn Karaoke Decrease in communication exp. +¥0.05bn (including other sales of the USA) 8.51 8.50 (0.1) Decrease in utility exp. +¥0.04bn Spo-cha 9.48 9.42 (0.6) Decrease in supplies exp. +¥0.03bn Others 2.25 2.31 +2.8 Increase in personnel exp. ¥(0.06)bn Increase in repairing exp. ¥(0.05)bn Total sales 77.19 77.04 (0.2) Increase in commission fee ¥(0.04)bn Cost of sales 68.55 68.75 +0.3 Others +¥0.01bn Gross profit 8.63 8.28 (4.0) ◆The USA Ordinary income & loss ¥(0.13)bn S.G.A. expenses [Breakdown] Decrease in new opening stores income P / L 2.42 2.54 +4.7 ¥(0.13)bn (※stores opened more than 13 months) Operating income 6.20 5.74 (7.4) Decrease in existing stores income ¥(0.01)bn Non-operating income & Others +¥0.01bn expenses (0.13) (0.18) (41.1) ◆China & Russia preparation exp. ① ¥(0.08)bn Ordinary income 6.07 5.55 (8.5) for opening stores Ordinary income margin % 7.9 7.2% ― Term 2020.3 3rd Q Actual Ordinary income ¥5.55bn Extraordinary income & loss ② (0.39) (0.32) +18.2 ② Net income before tax 5.67 5.23 (7.8) [Extraordinary income & loss breakdown] Term 2020.3 3nd Q Plan Extraordinary loss ¥(0.39)bn Corporate tax 1.83 1.70 (7.5) ・Loss on disposal of fixed assets, etc. ¥(0.39)bn Net income 3.83 3.53 (7.9) Term 2020.3 3nd Q Actual Extraordinary loss ¥(0.32)bn ・Loss on disposal of fixed assets, etc. ¥(0.32)bn -2- Term 2020.3 Consolidated plan store openings and closings, P / L ※Figures below ¥10 million have been truncated. Percentage is rounded off to one decimal place. Term 2019.3 Term 2020.3 Unit Consolidated Japan The USA Consolidated Japan The USA③ Revised Revised Revised Actual Actual Actual Plan Differ(%) Plan Differ(%) Plan Differ(%) Store openings and closings Store +8 (3) +11 +8 ― (2) +33.3 +10 (9.1) No. of total stores (at the end of term) Store 137 105 32 145 +5.8 103 (1.9) 42 +31.3 【Break down】 Own stores Stores (land & building and building structure) Store 21 21 ― 21 ― 21 ― ― ― ① Leased stores (interior structure only) Store 116 84 32 124 +6.9 82 (2.4) 42 +31.3 No. of months total stores operation Month 1,560 1,265 295 1,660 +6.4 1,241 (1.9) 419 +42.0 Bowling ¥bn 24.29 22.14 2.15 24.97 +2.8 22.25 +0.5 2.71 +25.8 Amusement ¥bn 49.68 38.79 10.89 53.94 +8.6 39.49 +1.8 14.45 +32.7 Karaoke (including other sales of the USA) ¥bn 10.94 7.65 3.29 12.02 +9.9 7.68 +0.5 4.33 +31.8 Spo-cha ¥bn 13.46 13.46 ― 13.66 +1.5 13.66 +1.5 ― ― Others ¥bn 2.92 2.92 ― 3.03 +3.9 3.03 +3.9 ― ― Total sales ¥bn 101.31 84.97 16.34 107.64 +6.2 86.14 +1.4 21.50 +31.6 P/L Operating income ¥bn 11.44 9.76 1.63 11.81 +3.2 10.18 +4.4 1.62 (0.6) Ordinary income ¥bn 11.22 9.68 1.53 11.60 +3.4 10.10 +4.3 1.50 (2.0) Ordinary income margin % 11.1% 11.4% 9.4% 10.8% ― 11.7% ― 7.0% ― Extraordinary income & loss ② ¥bn (1.13) (0.59) (0.53) (1.74) (54.0) (0.99) (66.2) (0.75) (40.5) Net income before tax ¥bn 10.08 9.09 0.99 9.85 (2.3) 9.10 +0.2 0.74 (24.8) Corporate tax ¥bn 2.92 2.66 0.26 3.43 +17.2 3.23 +21.5 0.19 (25.7) Net income ¥bn 7.15 6.42 0.72 6.42 (10.3) 5.87 (8.6) 0.55 (24.5) (Note) ① Term 2019.3 Actual: Openings (1 store in Japan, 11 stores in the USA), closings (4 stores in Japan). Change has made on November 8, 2019 Term 2020.3 Revised Plan: Openings (10 stores in the USA), closings (2 stores in Japan) . (Originally announced on May 8, 2019.) ② Extraordinary income & loss includes Japan and the USA royalty. [Term 2019.3 Actual] Extraordinary income & loss: Impairment loss ¥(0.60)bn (9 stores in Japan ¥(0.15)bn, 1 store in the USA ¥(0.45)bn), Loss on disposal of amusement substrates, etc. ¥(0.52)bn. [Term 2020.3 Revised Plan] Extraordinary income & loss: Impairment loss ¥(1.24)bn (3 stores in Japan ¥(0.60)bn, 2 stores in the USA ¥(0.64)bn), Loss on disposal of amusement substrates, etc. ¥(0.49)bn. ③ In calculation of the USA plan exchange rate $1 = ¥109 is used.($1=108.6 was used in the 1st half). ※ Consolidated plan is adjusted, hence total operating income for Japan and the USA does not match consolidated operating income. -3- Japan Sales and Year-on-year comparison of existing stores (Actual and plan) Revised Japan sales plan reflects 1st half actual results. No change in the 2nd half plan has been made. Please refer to page 16 for the number of stores. Japan sales (Actual and plan) ※Figures below ¥10 million have been truncated. 1st Q 2nd Q 1st half 3rd Q 4th Q 2nd half Term Unit Revised Actual Actual Actual Plan Actual Differ (%) Plan Plan Plan Bowling ¥bn 5.26 5.50 10.77 4.84 4.71 (2.8) 6.63 11.48 22.25 Amusement ¥bn 9.56 10.89 20.45 9.08 8.80 (3.2) 9.95 19.04 39.49 Karaoke ¥bn 1.85 2.01 3.86 1.73 1.70 (2.0) 2.08 3.82 7.68 Spo-cha ¥bn 3.25 3.55 6.81 2.67 2.61 (2.2) 4.18 6.85 13.66 Others ¥bn 0.76 0.81 1.58 0.67 0.73 +9.4 0.78 1.45 3.03 Total sales ¥bn 20.70 22.78 43.49 19.02 18.56 (2.4) 23.62 42.65 86.14 No.