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Annual Report 2013 Annual Report2013 Annual Report 2013 Annual Report2013 Sunshine60, 17F 1-1, Higashi-Ikebukuro 3-chome, Toshima-ku, Tokyo 170-6017, Japan Telephone: (81) 3-3989-6600 http://www.family.co.jp FamilyMart is Supporting Company of Japan National Team This Annual Report was pro- Produced using the waterless printing Printed using VOC-free ink. duced using environment- process, without emission of harmful Printed in Japan friendly FSC®-certifi ed paper waste materials. CO2 given off in the manufactured using materials production of this Report is off set 2013.07 that were sourced from trees through COJ, helping prevent global from a well-managed forest. warming. FamilyMart Basic Principles Our Slogan “FamilyMart, Where You Are One of the Family” Our mission is to always be close to our customers’ hearts, and an indispensable part of their lives. FamilyMart’s Goal We aim to make our customers’ lives more comfortable and enjoyable, primarily by displaying hospitality in everything we do, and by ensuring a shopping experience characterized by convenience, friendliness and fun. FamilyMart’s Basic Management Policies We will continue to provide innovative, high-quality products and services that make a positive, lasting impression on our customers and warm their hearts. We are working to raise enterprise value through our business activities in line with the spirit of “Co-Growing,” by which we mean realizing mutually benefi cial relationships with our franchisees, business partners, and employees, thereby fulfi lling our responsibilities to all our stakeholders. We aim to win the highest trust of the general public by observing all laws and ethical norms, raising the level of transparency in our business activities, and always upholding the principles of fair competition. In consideration of the overriding need for environmental preservation, we will enthusiastically contribute to the welfare of the local communities in which we operate and society as a whole, providing reliable and safe products and services to Please visit the FamilyMart Website! help realize a future full of new possibilities. On our website, we make available a variety of Company We encourage our colleagues to create a vibrant corporate culture by keeping abreast of social trends and showing an information, including a Message from the President, interest in a wide range of subjects. In this way, we are confi dent that our staff will hit upon good ideas and then act on them. fi nancial summaries, and monthly business performance data, as well as news releases and other information of FamilyMart’s Action Guidelines interest to investors. “Famimaship” http://www.family.co.jp/english “Listen, Decide, Act” “Wholehearted Hospitality” Exceeding customers’ expectations Growing together, through mutual trust Cultivating esthetic sensitivity Enjoying new challenges We provide an IR email service, through Acting with integrity which we inform subscribers of matters of interest to investors. Cautionary Statement This report contains forward-looking statements, including the Company’s strategies, future business plans, and projections. Such forward-looking statements are not based on historical facts and involve known and unknown risks and uncertainties that relate to, but are not necessarily confi ned to, such areas as economic trends and consumer preferences in Japan and abrupt changes in the market environment. Accordingly, the actual business performance of the Company may substantially diff er from the forward-looking statements in this report. FamilyMart Annual Report 2013 115 Ushering in countless discoveries and excitement, 365 days a year. FamilyMart — a convenience store determined to be more than just handy, championing tomorrow’s affl uence and joy. Higher quality and innovation in each product. Unveiling new concepts, beyond the realm of conventional service. Learning how customers feel, then exceeding their expectations. More smiles, more service, with you. Your neighborhood FamilyMart, in constant evolution. FamilyMart Annual Report 2013 1 Contents 04 FamilyMart At a Glance Strategy Briefi ng Business Highlights 20 1 06 Consolidated Financial Highlights Aiming to Be the World’s 08 Performance Highlights No. 1 Convenience-Store Chain Messages from the Management 10 A Message from the Chairman 24 2 Junji Ueda A Social and Lifestyle Chairman and Chief Executive Offi cer Infrastructure Provider FamilyMart to Make Further Great Strides under Its New Administration 12 A Message from the President FamilyMart’s Growth Story Isamu Nakayama 28 Global Presence and Market Position President 30 Operating Environment Facing FamilyMart Fiscal 2013: A Year of Challenge That 32 FamilyMart’s Growth Strategy Will Decide the Next 10 Years 34 Product Strategy Accelerating Our Aggressive Approach and Aiming to Become World No. 1 36 Customer Relationship Management Strategy as a Japanese Convenience Store 37 Store Operation 38 Store Opening Strategy in Japan 40 Area Franchisers in Japan 41 Overseas Area Franchisers 2 FamilyMart Annual Report 2013 Business Highlights Corporate Social Responsibility Editorial Policy the Management Messages from 46 Special Feature 1 Stakeholder Dialogue The Annual Report 2013 comprises important informa- tion selected from various information about FamilyMart’s management strategies and business activities, performance results, and CSR activities in fi scal 2012, as well as about the Company’s manage- ment organization, reported in an easy to understand and integrated fashion. Through this avenue of volun- One Akiyama Isamu Nakayama Mika Takaoka tary disclosure, we can introduce detailed activities Briefi Strategy Integrex Inc. FamilyMart Co., Ltd. FamilyMart Co., Ltd. President President Outside Corporate Auditor based on management strategies and present the opinions of managers in their own words in a way that ng 50 FamilyMart CSR would not be possible with compulsory disclosure. Regarding CSR, we have selected activities as a social 52 Special Feature 2 Next-Generation Flagship Store and lifestyle infrastructure provider that we believe are 54 Special Feature 3 Global CSR of particular interest to stakeholders and that are of FamilyMart’s Growth Story Growth FamilyMart’s Social Responsibility Corporate Governance Corporate 56 Community Relations particular importance to FamilyMart. 60 Environmental Preservation 64 For the Customer 66 For a Better Working Environment Period and Scope of the Report This annual report covers the fi scal year ended Corporate Governance February 28, 2013 (fi scal 2012), and also includes some activities subsequent to February 28, 2013. Environment-related data refers only to FamilyMart 68 Corporate Governance and Internal Control System (non-consolidated). 71 FamilyMart’s Risk Management 72 IR Activities 73 Board of Directors, Executive Offi cers, and Corporate Auditors 74 Organization Data and Financial Section 76 Fact Sheets 82 Management’s Discussion and Analysis Data and Financial Section and Financial Data 87 Operational and Other Risks 88 Consolidated Financial Statements 113 Corporate History 114 Investor Information FamilyMart Annual Report 2013 3 FamilyMart At a Glance Network of 22,181 stores in 8 markets Average number of customers visiting our stores per day, around the world: more than 15 million (As of February 28, 2013) Overseas stores: 57% World No. 2 FamilyMart is a Japanese convenience-store chain, FamilyMart had a total of 22,181 stores in Japan and founded in 1973. Through aggressive expansion centered overseas, the second-highest number of stores world- on Asia, the Company now has more stores overseas wide of any convenience-store chain. We are working than in Japan. every day to expand our store network and enhance store services to achieve continued growth in our customer base. 4 FamilyMart Annual Report 2013 Our Vision Becoming No. 1 in Asia as a Japanese Convenience Store Then, Aiming to be World No. 1! World No. 1 Asia No. 1 22,181 stores (Fiscal 2012) P.20: Aiming to Be the World’s No. 1 Convenience-Store Chain Becoming an Essential Social and Lifestyle Infrastructure Provider As a social and lifestyle infrastructure As a base for fi nance provider and services As a close and convenient store P.24: A Social and Lifestyle Infrastructure Provider FamilyMart Annual Report 2013 5 Business Highlights Consolidated Financial Highlights FamilyMart Co., Ltd. and Consolidated Subsidiaries Years Ended the Last Day of February 2013 2012 2011 2010 Results of operations: Total operating revenues (Note 1): 334,087 329,218 319,889 278,175 Commission from franchised stores 198,222 189,659 181,064 161,167 Other operating revenues 30,800 29,546 27,129 22,988 Net sales 105,065 110,013 111,696 94,020 Operating income 43,108 42,586 38,223 33,531 Net income 25,020 16,584 18,023 15,103 Net cash provided by (used in) operating activities 64,638 72,900 50,338 (6,575) Net cash used in investing activities (46,237) (20,746) (25,798) (36,152) Net cash (used in) provided by fi nancing activities (16,089) (14,189) (13,977) (8,342) Financial position: Total assets (Notes 2, 3) 526,590 472,822 436,034 424,209 Total equity (Note 4) 248,155 225,939 216,979 206,490 Per share of common stock (in yen and U.S. dollars): Total equity (Note 4) 2,517.4 2,299.1 2,207.5 2,096.4 Basic net income (Note 5) 263.6 174.7 189.7 158.5 Cash dividends applicable to the year (Note 5) 100.0 82.0 72.0 70.0 Ratios: Equity ratio (%) 45.4 46.2 48.1 47.1 ROE (return on equity) (%) 10.9 7.8 8.8 7.7 ROA (return on total assets) (%) 5.0 3.6 4.2 3.7 PER (price earnings ratio) (times) 14.8 18.1 16.3 18.0 Payout ratio (%) 37.9 46.9 37.9 44.2 Other data: Growth rate of average daily sales of existing stores (non-consolidated) (%) (1.6) 4.4 (0.2) (2.4) Number of store openings (non-consolidated) (Note 6) 900 851 741 545 Number of total chain stores 22,181 20,079 17,598 15,789 Japan (including area franchised stores) 9,481 8,834 8,248 7,688 Overseas 12,700 11,245 9,350 8,101 Number of full-time employees 6,081 8,327 7,569 7,204 Number of shareholders 12,270 11,913 12,391 13,274 Notes: 1.
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