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Disclaimer This is an English translation of the captioned release. This translation is prepared and provided for the purpose of the reader’s convenience. All readers are recommended to refer to the original version in Japanese of the release for complete information
News Release dated: July 4, 2012
To whom it may concern: Company Name: ASKUL Corporation
(Code No.: 2678, TSE First Section) Representative: Shoichiro Iwata
(President and Chief Executive Officer) Contact Person: Tuguhiro Tamai
(Executive Officer, Finance & Corporate Communication Unit)
Phone: (03) 4330-5130
FY5/2012 Full-Year Performance (Consolidated financial summary for fiscal year ended May 2012)
ASKUL Corporation (hereinafter referred to as the “Company”) herewith attach the “FY5/2012
Full-Year Performance” (Consolidated financial summary for fiscal year ended May 2012) to
provide supplementary information with respect to the “Summary of Consolidated Financial
Results for Fiscal Year Ended May 2012 (Japanese GAAP).”
These supplementary materials include forward-looking statements concerning current plans
and the outlook for operating results. These statements are based on plans and forecasts that
use currently available information. Forward-looking statements are not promises or guarantees
about the future because actual operating results may differ from the Company’s outlook for a
variety of reasons.
These supplementary materials are unaudited and have not been reviewed by certified public
accountants or auditors.
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 1
0
FY5/2012 Full-Year Performance
July 4, 2012
ASKUL Posts Highest Ever Net Sales, Profit Growth Turns Positive in FY5/2012
Move from Stable to Significant Growth through Alliance with Yahoo Japan
⎯Reallocating Business Resources through Prioritized Selection of and Focus on New Businesses⎯
DisclaimerThis is an English translation of the captioned presentation material. This translation is prepared and provided for the purpose of the convenience of non-Japanese-speaking people. All readers are recommended to refer to the original version in Japanese of the presentation material for complete information.
1
Notes:This material contains ASKUL Group’s current plans and performance outlook. These plans, forecasts, and other forward-looking statements represent ASKUL’s plans and forecasts based on information currently available. Actual performance may differ from these plans and forecasts due to a variety of conditions and factors that could occur in the future. This material does not represent promises or guarantees regarding the achievement of these plans and forecasts. This material has not been audited by certified public accountants or auditing firms.
For the purposes of this material, the term “new businesses” refers to SOLOEL Enterprise, ASMARU, and Shanghai ASKUL. YASKUL (tentative name) refers to the online mail-order business for general consumers to be launched in alliance with Yahoo Japan Corporation. The term “existing businesses” refers to the rest of ASKUL’s businesses.
B-to-B refers to business-to-business transactions, while B-to-C refers to business-to-consumer transactions.
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 2
2
I. FY5/2012 Results
II. Towards New Growth Strategy
III. Background of Decision-making on Business and Capital Alliance
IV. Striving for Significant Growth
V. FY5/2013 Outlook
3
Net sales exceeded ¥200.0 billion for the first time on the back of AlphaPurchase acquisition and expansion of web-only products lineup,increasing 8.0%, or ¥15.8 billion, on year.
Though the consolidation of AlphaPurchase, which had an earnings structure different from ASKUL, and the incentives to agents to ensure future growth had an impact on gross profit margin, gross profit was highest ever.
A wide range of cost-saving activities resulted in a 0.7 p.p. improvement in ratio of SG&A expenses to net sales on year, and operating income increased 23.5% from FY5/2011, an improvement of 0.4 p.p.
ASKUL posted net income, after a loss in FY5/2011, in a full recovery after the earthquake disaster, despite a temporary increase of ¥0.7 billion in total income taxes (a negative factor on profit).
New businesses improved their operating income on year.
FY5/2012 Consolidated Performance Summary
Full recovery from the earthquake disaster; net sales rose to highest ever and profit growth turned positive
Strictly adhered to operating income plan; actively invested for growth
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 3
(%)
197,070 100.0 212,932 100.0 +8.0 220,000 -3.2
44,663 22.7 47,490 22.3 +6.3 50,000 -5.0
39,306 19.9 40,873 19.2 +4.0 43,500 -6.0
5,357 2.7 6,617 3.1 +23.5 6,500 +1.8
5,275 2.7 6,504 3.1 +23.3 6,400 +1.6
474 0.2 6,270 2.9 +1,221.3 − −
-1,015 -0.5 2,301 1.1 − 2,700 -14.8
Plan(¥ million)
Vs. Plan
4
FY5/2012 Consolidated Performance Overview
Stock issuance-related expenses, unbudgeted promotion expenses, etc.: ¥0.5 billion in total
Temporary increase in total income taxes: ¥0.7 billion (a negative factor on profit)(Change to tax rates: ¥0.38 billion; asset impairment of a subsidiary: ¥0.32 billion)
Incentives to agents: ¥0.8 billion
Extraordinary loss resulting from the earthquake disaster: ¥2.6 billion
Net Sales
Gross Profit
Selling, General and Administrative Expenses
Operating Income
Ordinary Income
Income Before Income Taxes
Net Income
FY5/2011 FY5/2012YoY
change (%)
Amount(¥ million)
Amount(¥million)
% of sales
% of sales
5
95%
100%
105%
110%
115%
6月 9月 12月 3月 6月 9月 12月 3月 6月 9月 12月 3月 6月 9月 12月 3月2009年 2010年 2011年
Lehman Brothers collapse
2008年
Impact of AlphaPurchase consolidation
wears off
2012年
Great East Japan Earthquake
Start of AlphaPurchase consolidation
ConsolidatedMonthly Net SalesMonthly net sales YoY growth (consolidated; adjusted for business days)
June Sep. Dec. Mar. June Sep. Dec. Mar. June Sep. Dec. Mar. June Sep. Dec. Mar.
2009 2010 20112008 2012
Notes: • There is no adjustment for business days in January 2011 (due to year-end and New Year holidays).• For the purposes of this material, the term “month” refers to a fiscal month that ends on the 20th of each month, commencing on the 21st of the preceding month.
We fully recovered from the impact of the earthquake disaster and achieved double-digit growth in 4Q (three months).
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 4
-15%
-10%
-5%
0%
5%
10%
15%
6
Number of customers
Average customer spendLarge
price cuts
Both number of customers making purchases and average customer spend made a fully recovery from the impact of the earthquake.The rate of growth in average customer spend turned positive reflecting the widened product range.
Great East Japan Earthquake
Note: From March 2010 to February 2011, the preceding year’s results do not include Pochitto ASKUL’s data.
Non-consolidated
Number of Customers Making Purchases / Average Customer Spend
2009 2010
Jun JunJunSep SepDec Dec MarMar Sep Dec Mar
The impact of one fewer business day
YoY growth in average customer spend
YoY growth in the number of customers making purchases
2011 2012
7
0
500
1,000
1,500
2,000
2,500
FY5/2011 (actual)Consolidated net sales
¥197.0 billion
FY5/2012 (actual)Consolidated net sales ¥212.9 billion
YoY change +¥15.8 billionYoY growth +8.0%
Incr
ease
in n
et sa
les f
rom
mak
ing
Alph
aPur
chas
e in
to a
subs
idia
ry
Incr
ease
in n
et sa
les f
rom
SO
LOEL
ARE
NA a
nd
ASKU
L AR
ENA
Incr
ease
in n
et sa
les f
rom
exi
stin
g bu
sines
ses,
etc.
+7.4
+0.4+8.0
Existing businesses, etc.Consolidated net sales
¥147.9 billionYoY change +¥0.4 billionYoY growth +0.3%
SOLOEL ARENA, etc.Consolidated net sales
¥53.4 billionYoY change +¥8.0 billionYoY growth +17.6%
Net sales exceeded ¥200.0 billion thanks to AlphaPurchase acquisition and sales expansion of SOLOEL ARENA
Main Factors Affecting FY5/2012 Consolidated Net Sales
200
100
50
150
250(¥billion)
AlphaPurchaseNon-consolidated net sales
¥13.1 billionYoY change +¥8.4 billionConsolidation adjustments
-¥1.1 billion
0
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 5
8
0
200
400
600 FY5/2011 (actual)Consolidated net sales
¥51.9 billion
Incr
ease
in n
et sa
les f
rom
mak
ing
Alph
aPur
chas
e in
to a
subs
idia
ry
Incr
ease
in n
et sa
les f
rom
SO
LOEL
AREN
A an
d AS
KUL
AREN
A
Incr
ease
in n
et sa
les f
rom
exi
stin
g bu
sines
ses,
etc.
+0.4
+2.2+2.9
Existing businesses, etc.Consolidated net sales
¥39.3 billionYoY change +¥2.9 billionYoY growth +16.5%
AlphaPurchaseNon-consolidated net sales
¥3.8 billionYoY change +¥1.1 billionConsolidation adjustments
-¥0.7 billion
SOLOEL ARENA, etc.Consolidated net sales
¥15.0 billionYoY change +¥2.9 billionYoY growth +24.4%
Significant recovery in existing businesses in 4Q (three months)The strategy to widen product lineup contributed to net sales to
small- to medium-sized offices
Main Factors Affecting FY5/2012 4Q Consolidated Net Sales(Three Months)
(¥billion)
60
20
40
FY5/2012 (actual)Consolidated net sales ¥57.5 billion
YoY change +¥5.6 billionYoY growth +10.9%
0
ASKUL ARENA
9
161
1227
57
83 103128
192229
0
50
100
150
200
04/5月 05/5月 06/5月 07/5月 08/5月 09/5月 10/5月 11/5月 12/5月
SOLOEL ARENA Progressing Faster Than Plan
0
100
200
300
400
500
600
04/5期 05/5期 06/5期 07/5期 08/5期 09/5期 10/5期 11/5期 12/5期 13/5期
(¥billion)
FY5/2013 target:
¥57.9 bn4.28.5
14.922.4
29.734.5
38.745.1
Exceeded 20,000
companies
YoY +17.8%
53.457.9
Shift from ASKUL ARENA has been smooth with more than 70% completed as of the end of June (on a user basis)
SOLOELARENAMedium-sized
companies
Large-sized companies
Small- to medium-sized
offices
SOLOELEnterprise
ASKULInternet
Shop
ASMARUIndividuals
(thousand companies)
SOLOEL ARENA + ASKUL ARENA Sales Trend
40
30
20
10
0
50
20
15
10
5
60
Cumulative total of registered companies at SOLOEL ARENA + ASKUL ARENA
FY5/04 FY5/05 FY5/06 FY5/07 FY5/08 FY5/09 FY5/10 FY5/11 FY5/12 FY5/13
19.2
16.1
12.810.3
8.3
5.7
2.71.2
22.9
5/2007 5/2008 5/2010 5/2011 5/20125/20055/2004 5/2006 5/2009
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 6
10
Widening of Product Range
Growing beyond the framework ofoffice supply mail order service
Office supplies Office
supplies
All MRO supplies
Overall office products Office
products
Office work products
Scientific supplies
Medical supplies
11
Widening of Product Range
Growing beyond the framework ofoffice supply mail order service
Office supplies Office
supplies
All MRO supplies
Overall office products Office
products
Office work products
Scientific supplies
Medical suppliesAs of June 2012, the number of products offered
by the Internet shop has expanded to more than260,000 SKUs
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 7
12
Starting tie-ups with suppliers (AS ONE/TRUSCO NAKAYAMA) Next day delivery of about 120,000 SKU MRO supplies fromApril 2012*
Start of Next Day Delivery of Non-stock Items
*Product images used are for illustrative purposes only.There are some areas/products that are not covered by the collaborating suppliers.
Previous next-day delivery service
Launched in April 2012
About
30,000 SKUs ofoffice products
Expand MRO supplies
such as industrial tools,scientific supplies, etc.To make about
150,000 SKUsavailable for next day delivery
13
Sales of MRO Products Steadily Expanding
ASKUL Catalog Spring/Summer 2012
Weekly sales of AlphaPurchase products exceeded ¥25 millionthrough sales promotion using catalogues and next day delivery
AlphaPurchase ProductWeekly Net Sales Trend
May
12
–M
ay 2
3 –
Jun
6 –
Jun
20 –
Jul 4
–Ju
l 18
–Au
g 1
–Au
g 15
–Au
g 29
–Se
p 12
–Se
p 26
–O
ct 1
0 –
Oct
24
–N
ov 7
–N
ov 2
1 –
Dec
5 –
Dec
19 –
Jan
2 –
Jan
16 –
Jan
30 –
Feb
13 –
Feb
27 –
Mar
12
–M
ar 2
6 –
Apr 9
–Ap
r 23
–M
ay 7
–M
ay 2
1–Ju
n 4–
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 8
14
Web-only products contributed to sales of office supplies and office furnitureMedical (included in Others) had a strong showing reflecting synergy effects between widened product range and dedicated website
Net Sales by Product Category Non-consolidated
79,028 -0.5 79,399 +0.5
43,675 +2.1 46,530 +6.5
38,700 +5.2 40,985 +5.9
15,661 +9.4 17,455 +11.5
12,078 -7.4 13,306 +10.2
189,144 +1.5 197,677 +4.5
FY5/2011 FY5/2012
OA/PC supplies
Office supplies
Office amenities
Office furniture
Others
Total
Amount(¥ million)
Amount(¥ million)
YoY change(%)
YoY change(%)
15
Growth rate of all items accelerated in 4Q (three months)
38,705 -1.8 20,084 +0.9 20,609 +4.6
21,877 +2.5 11,499 +6.8 13,153 +13.7
20,408 +3.3 10,100 +6.3 10,475 +10.9
7,868 +6.6 3,897 +8.1 5,689 +21.6
6,229 +5.0 3,505 +8.5 3,571 +22.6
95,090 +1.3 49,087 +4.4 53,499 +10.7
FY5/2012 1H(six months)
FY5/2012 3Q(three months)
FY5/2012 4Q(three months)
OA/PC supplies
Office supplies
Office amenities
Office furniture
Others
Total
Net Sales by Product Category Non-consolidated
Amount(¥ million)
Amount(¥ million)
Amount(¥ million)
YoY change(%)
YoY change(%)
YoY change(%)
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 9
16
Gross profit: ¥47.4 billionGross profit margin: 22.3%
Difference from the plan: -0.4 p.p. YoY change: -0.4 p.p.
<Quarterly gross profit margin trend>1Q: 22.3% 2Q: 22.4% 3Q: 22.3% 4Q: 22.2%
The gross profit margin was affected by(1) The earthquake disaster’s impact on gross profit mix(2) Consolidation of AlphaPurchase, which had an earnings
structure different from ASKUL(3) Incentives for agents
Gross profit was highest ever as net sales expanded
FY5/2012 Consolidated Performance Highlights
17
Trend of Consolidated Gross Profit
24.0 %Gross profit margin
(*excl. the impacts of incentives for agents and the acquisition of
AlphaPurchase)
23.4 % 23.5 % 23.0 % 23.2 %
Gross profit was highest ever; basic gross profit margin is gradually recovering
350
370
390
410
430
450
470
490
08/5期 09/5期 10/5期 11/5期 12/5期
エージェント向けインセンティブ
売上総利益
Gross profit margin 24.0% 23.3 % 23.5 % 22.7 % 22.3 %
49.0
47.0
45.0
43.0
41.0
39.0
37.0
35.0
(¥billion)
FY5/2008 FY5/2009 FY5/2010 FY5/2011 FY5/2012
Incentives for agents
Gross profit
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 10
18
SG&A expenses: ¥40.8 billion Ratio of SG&A expenses to net sales: 19.2%YoY change: -0.7 p.p.; +¥1.5 billion Difference from the plan: -0.6 p.p.; -¥2.6 billion<Quarterly SG&A expenses ratio trend>
1Q: 19.7% 2Q: 19.2% 3Q: 18.5% 4Q: 19.4%<Breakdown of difference from the plan>
- A decline in variable cost as net sales fell short of the target -¥0.9 billion- Recording of incentives for agents as sales rebates -¥0.8 billion- Declines in depreciation and amortization of software -¥0.4 billion- Stock issuance-related expenses, unbudgeted promotion expenses +¥0.5 billion- Other, the outcome of the Cost Busters initiative -¥1.0 billion
Operating income: ¥6.6 billion (full-year plan: ¥6.5 billion)<Quarterly operating income to net sales ratio trend>
1Q: 2.6% 2Q: 3.2% 3Q: 3.8% 4Q: 2.8%- Operating income temporarily declined in 4Q due to payment of incentives and
occasional costs
FY5/2012 Consolidated Performance Highlights
19
18.0%
18.5%
19.0%
19.5%
20.0%
第1四半期(3ヶ月) 第2四半期(3ヶ月) 第3四半期(3ヶ月) 第4四半期(3ヶ月)
売上高販管費比率
売上高販管費比率(第三者割当増資関連費用・予算外販促コストを除く)
Trend of Ratio of SG&A Expenses to Net Sales (Quarterly)
Although 4Q has catalog cost, the ratio was roughly in line with 3Q when occasional costs were excluded.
Ratio of SG&A expenses to net salesRatio of SG&A expenses to net sales (excl. Stock issuance-related expenses, unbudgeted promotion expenses)
1Q (3 months) 2Q (3 months) 3Q (3 months) 4Q (3 months)
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 11
20
Operating Income/Loss of New Businesses
-28
-24
-20
-16
-12
-8
-4
01Q累計 2Q累計 3Q累計 4Q累計
11/5期実績
12/5期計画
12/5期実績
Income improvement of Shanghai ASKUL was short of the plan. We will carry out selection of and focus on the new businesses
in FY5/2013.
(¥billion) Quarterly accumulation
1Q 1H 9 months Full year
FY5/2011 results
FY5/2012 plan
FY5/2012 results
-0.4
-0.8
-1.2
-1.6
-2.0
-2.4
-2.8
0
21
Extraordinary income: ¥0.8 billionGain on reversal of loss on disaster ¥0.60 billionGain on reversal of subscription rights to shares ¥0.23 billion
Extraordinary loss: ¥1.0 billion (full-year plan: ¥0.5 billion)Impairment loss on noncurrent assets ¥0.95 billion
Net income: ¥2.3 billion (full-year plan: ¥2.7 billion)⇒The impact of temporary increase in total income taxes of ¥0.7 billion
(a negative factor on profit)
Capital expenditures: ¥2.6 billion (full-year plan: ¥3.3 billion)Next-generation web development ¥0.64 billionMaterial handling system (DCM center) ¥0.45 billion
(Ref.) Depreciation and amortization of software: ¥3.0 billion (full-year plan: ¥3.4 billion)
FY5/2012 Consolidated Performance Highlights
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 12
22
BtoB事業は
第2成長期が
スタート
95/5期 96/5期 97/5期 98/5期 99/5期 00/5期 01/5期 02/5期 03/5期 04/5期 05/5期 06/5期 07/5期 08/5期 09/5期 10/5期 11/5期 12/5期
Number of products
Net sales
Number of customers
Introduction of business integration
system
e-line
*e-line denotes the evolution from catalog business to Internet-based business
B-to-B business
enters the 2nd
growthphase
FY5/95 FY5/96 FY5/97 FY5/98 FY5/99 FY5/00 FY5/01 FY5/02 FY5/03 FY5/04 FY5/05 FY5/06 FY5/07 FY5/08 FY5/09 FY5/10 FY5/11 FY5/12
23
I. FY5/2012 Results
II. Towards New Growth Strategy
III. Background of Decision-making on Business and Capital Alliance
IV. Striving for Significant Growth
V. FY5/2013 Outlook
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 13
24
Return existing business to a growth path by enhancing Web-based services.
Boost new businesses to return to double-digit growth.
FY5/1993 FY5/2011
Busin
ess e
xpan
sion
Rapid growth by a catalog business model
Sustained growth
New growth phase
(fiscal years)
Existing business growth
New business growth
Source: 1H FY5/11 earnings material
MRO
(mai
nten
ance
, rep
air, a
nd
oper
atio
ns) s
uppl
ies
Existing Growth Strategy
25
Direction of New Businesses
ASMARU• Ended the alliance with netprice.com on July 4• Eying an integration into YASKUL (tentative name) within 2012 by
leveraging accumulated know-how and expertise
Expansion in Asia• Drastic business reconstruction is being considered for Shanghai ASKUL• AlphaPurchase have embarked on MRO supplies purchasing service in
China through a collaboration with SOLOEL Enterprise
SOLOEL Enterprise• Expected to post single month profit within FY5/2013 by strengthening
joint purchase efforts• Spin-off into a separate company in FY5/2013 is being considered to
accelerate business expansion by ensuring neutrality
Real
loca
te b
usin
ess r
esou
rces
thro
ugh
prio
ritiz
ed se
lect
ion
and
focu
s
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 14
26
Present
Busin
ess e
xpan
sion
Shift focus to e-commerce by leveraging the capability of field staffLive up to the expectations of all stakeholders from a medium- to
long-term perspective
New Growth Strategy
B-to-Bbusiness
fiscal years
(tentative name)
27
I. FY5/2012 Results
II. Towards New Growth Strategy
III. Background of Decision-making on Business and Capital Alliance
IV. Striving for Significant Growth
V. FY5/2013 Outlook
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 15
28
e-commerce to overtake department and convenience stores:
Market size second to supermarkets
Total distribution amount for 2010(¥trillion)
About ¥14.5 trillion by 2016
Supermarkets Convenience Stores
e-Commerce Department Stores
Source: 2012 Nikkei Industry Map, 2012 IT Navigator
29
On April 23, 2012, Amazon of US launched MRO supply sales website called AmazonSupply.comIt offers more than 500,000 items spread over 14 categories including Janitorial & Sanitation, Lab & Scientific, Occupational Health & Safety, Office, Test, Measure & Inspect and various tools categories
Moreover, AmazonSupply.com introduced new service factors that were not available in the existing Amazon model1) Dedicated customer service staff2) Accepts orders not only online but also via phone and facsimile3) Extends credit
In addition to make a full entry into the B-to-B business, AmazonSupply.com challenges the major players in the US MRO market including Staples (office MRO supplies), Home Depot (home MRO supplies), Grainger and MSC (industrial MRO supplies)
29
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 16
30
One who controls logistics controls the market
“Internet Mail-Order Services
Compete on Delivery”
Morning edition of
Nihon Keizai Shimbun
June 23, 2012
30
31
Trend towards consolidation of B-to-B and B-to-C
“Offense” is the best “Defense”
ASKUL to ensure further advantageby expanding market share
at an ultimate speed31
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 17
32
= Japan’s No.1
×Largest Product RangeLowest PricesFastest Distribution SystemBest Customer Support
Best Customer AppealBest Settlement
32smart commerce
Establishment of new
Customer Support
DistributionSettlementPriceProductRange
Customer Appeal
3333
Expansion of customer baseto accelerate growth of
B-to-B business, including MRORecover double-digit growth
for B-to-B business
Jump-StartNew Smart Commerce
as core tenant of Yahoo! Shoppingthrough partnership with
Yahoo! JAPANMake B-to-C become
a profit-creating businessat par with B-to-B within 5 years
Increase market share for product categories and
volume with B-to-B and B-to-CDrastic profitability improvement byinput cost reduction + distribution
cost efficiency
Four Goals of Alliance with Yahoo Japan
Launch fulfillment business bysecuring entrustment of
distribution/delivery function forexisting shops of Yahoo! Shopping
and Yahoo! AuctionsSecure a new profit source utilizing
ASKUL's strength and increaseddistribution centers
(1) (2)
(3) (4)
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 18
34
Present
Busin
ess e
xpan
sion
Stable Growth of B-to-B Business + Alliance Impact
5-year TargetConsolidated net sales: ¥500.0 billion+
Consolidated operating income: ¥20.0 billion+EBITDA per share: ¥500+
fiscal years
34
B-to-B business
35
I. FY5/2012 Results
II. Towards New Growth Strategy
III. Background of Decision-making on Business and Capital Alliance
IV. Striving for Significant Growth
V. FY5/2013 Outlook35
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 19
3636
BtoC CompanyBtoB CompanyPr
oduc
t-ba
sed
busi
ness
uni
t (1)
COO
Implement major organizational changes to enable an organization that can achieve “net sales of ¥500.0 billion+ and
operating income of ¥20.0 billion+” at an ultimate speed
Web
Str
ateg
y &
Plan
ning
Bu
sines
s Uni
t
Prod
uct-
base
d bu
sines
s uni
t
Plat
form
Des
ign
Busin
ess
Uni
t
Efficient Customer Response (ECR) Unit (logistics, procurement, order, quality) e-Platform Business Unit Back-office operations
Organizational Change Towards Significant Growth
COO
…Prod
uct-
base
dbu
sine
ss u
nit (
2)
Area-based management
...
3737
Implement major organizational changes to enable an organization that can achieve “net sales of ¥500.0 billion+ and
operating income of ¥20.0 billion+” at an ultimate speed
Efficient Customer Response (ECR) Unit(logistics, procurement, order, quality) e-Platform Business Unit Back-office operations
Organizational Change Towards Significant Growth
BtoC CompanyBtoB Company COOCOO
Prod
uct-
base
dbu
sine
ss u
nit (
1)
…Prod
uct-
base
dbu
sine
ss u
nit (
2)
Area-based management
Web
Str
ateg
y &
Plan
ning
Bu
sines
s Uni
t
Prod
uct-
base
d bu
sines
s uni
t
Plat
form
Des
ign
Busin
ess
Uni
t
Introduce Chief Operating Officer (COO)Accelerate decision-making
Set sales bases based on area to strengthen local operations, actual
products, and capability of field staff
Specify profit-and-loss responsibility by business unitConsolidate contacts for both BtoB and BtoC based on
product
...
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 20
38
B-to-B Business StrategyB-to-B Business Strategy
Hitoshi YoshidaChief Operating Officer (COO)
BtoB Company
Dec 2000: Joined ASKUL
After serving as a merchandiser, served as manager of product division from 2008. The manager of ECR (logistics) since 2011 to date.
38
39
BtoB CompanyMission Statement
Enable next-day delivery of all MRO products to all offices at reasonable prices to enliven
Japanese workplaces
3939
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 21
40
Greater Customer BaseEnsure retention of customers accessing through
websites as guest users
Enhance customer contacts through community-based sales efforts
4040
4141
Sales activities by agents
Customer information registration
Catalog delivery
Fax and web-based orders
Product delivery
Monthly invoice/collection
Follow-up on proposals from agents
Customers search in Yahoo! JAPAN
Settlement through Yahoo! Wallet
Customer makes repeat orders
Product delivery
Basic B-to-B processes Newly added processes
Web-based orders
Appeal to guest users through expanded product range/search engine/simple settlementEstablish customer relationship with follow-up by agents
Recover double-digit growth for B-to-B business
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 22
42
Osaka
Sendai
Tokyo
OpenJune 12, 2012
To open inJuly 2012
Sales bases + establishment of showrooms • Strengthen relationships with area agents• Practice marketing that leverages each area’s characteristics• Strengthen the office furnishing business evolving around
showrooms
Establishment of Regional Bases⎯Strengthening of Local Operations, Actual Products, Field Staff Capability
42
43
Widening of Product RangeAim to realize one-stop shopping for all MRO
supplies
43
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 23
4444
We aim to expand into new markets to cater to customer needs.
Office supplies Office
supplies
All MRO supplies
Overall office products Office
products
Office work products
Scientific supplies
Medical supplies
Widening of Product Range
To expand the number of products offered by the Internet shop to more than
500,000 SKUsby the end of FY5/2013
45
Product DevelopmentTo introduce “MRO PB Series” in this fall
Development of products that reflect customer requirements
45
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 24
46
14% 20%Sales share of own-brand products
(excl. original copier paper)
Target for 2 years
Own-brand products in SKUs
(excl. original copier paper)
Present
3,602 5,000
Original design products
Collaboration with Disney and
a Swedish designer
Aim to improve profitability by expanding sales of own-brand products
Development of Own-brand Products Reconstruction assistance donation
project launched Kodomo Art Project /Reconstruction assistance project
Published a booklet to
introduce own-brand products
46
Launched own-brand product series that are linked with SNS
“I want something like this” Development Dept.
47
Simultaneous Next Day Delivery of All Products
Aim to enable next day delivery of 1 million SKU products from A to Z in one shot
47
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 25
48
オフィス用品
約3万SKU
工具・理化学品等のMRO商材を拡大
約15万SKUを
日配送
48
Starting tie-ups with suppliers (AS ONE/TRUSCO NAKAYAMA) Next day delivery of about 120,000 SKU MRO supplies fromApril 2012 *
Start of Next Day Delivery of Non-stock Items
*Product images used are for illustrative purposes only.There are some areas/products that are not covered by the collaborating suppliers.
Previous next-day delivery service
Launched in April 2012
About
30,000 SKUs ofoffice products
ExpandMRO supplies
such as industrial tools,scientific supplies, etc.
To make about
150,000 SKUsavailable for next day delivery
By further enhancing alliances with suppliers, We aim to enable next day delivery of
1 million SKUs+ simultaneous delivery
in 2 years
49
B-to-C Business StrategyB-to-C Business Strategy
Akira YoshiokaChief Operating Officer (COO)
BtoC Company
Jan 2001: Joined ASKUL
After serving at the business administration division, has been in charge of the medical business ever since its launch in 2003.
49
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 26
50
BtoC CompanyMission Statement
Offer a new type of e-commerce, which for the first time adds a
pleasant surprise to the mundane act of grocery purchase
50
51
Web DevelopmentTo develop a one-of-a-kind B-to-C website
(tentative name) YASKUL
Coming soon… 51
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 27
52
Recap ASKUL’s strengthsProgress of the project
52
Industry Leader with more than 260,000 SKUsforecast as of end of June 2012
Customer AppealProduct Range Price Settlement Distribution
Customer Support
Sales of household goods: About ¥40.0 billion
Winning Structure:Direct transaction with approx. 800 manufacturers
Customer Appeal Product Range
Price Settlement Distribution Customer Support
ManufacturerManufacturer
ManufacturerManufacturer
ManufacturerManufacturer
ManufacturerManufacturer
ManufacturerManufacturer
ManufacturerManufacturer
CustomersCustomers
Sendai
TokyoYokohama
NagoyaOsakaFukuoka
Distribution Network that realizes
“Same Day” and “Next Day” Delivery
Further evolution of fastest distribution system
Present In 5 years (plan)As of announcement on April 27, 2 012
Customer AppealProduct Range
Price Settlement DistributionCustomer Support
HDI Customer Service Benchmarking*
The only three stars rating in the industry
Customer AppealProduct Range
Price Settlement DistributionCustomer Support
*By HDI Japan (Help Desk Institute), a member of world’s largest support service industry organization
From “call center” to “customer service desk”Handling multiple channels including SNS
53
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 28
54
1. Steering Committee meetings1st meeting: May 13; No. of participants: 14
Meeting details: Discussion on concept (mission, philosophy)
2nd meeting: May 26; No. of participants: 26Meeting details: Discussion on service name, core strategy
Finalization of sub-committee membersDrafting of schedule
3rd meeting: June 11; No. of participants: 23Meeting details: Discussion of target market (customers, products)
Confirmation of service levels and system requirements
4th meeting: June 27; No. of participant: 36Meeting details: Unofficial decision on service name; discussion on
medium-term business plan
2. Organizational setupOn July 1, 16 Yahoo Japan employees joined on dispatch.
Carrying out personnel exchange with an eye on the business integration with ASMARU
Jump-Start of YASKUL (tentative name): Status
Participants of the 1st Steering Committee meeting*CEO of ASKUL, Mr. Iwata, and CEO of Yahoo Japan Corporation, Mr. Miyasaka, are 2nd and 3rd from left in the front row
CEOs of both companies attended
54
55
3. Study of grand design for B-to-C businessEstablish six subcommittees⎯(1) Attracting customers, (2) Marketing, (3) Merchandising, (4) Customer Service, (5) Distribution, and (6) Design
Each sub-committee to carry out detail design for jump-start of YASKUL (tentative name)Overall optimization will be controlled by the steering committee mentioned earlier
4. Start of tie-up with Yahoo! JAPANLinks to be displayed on the top pages of websites of both companies
Jump-Start of YASKUL (tentative name): Status
55
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 29
56
Development of Logistics Platform
Achieve both improvement in service levels and streamlining of logistics
56
57
B-to-Cbusiness
Share the infrastructure and expertise gained in B-to-B
Take advantage of economy of scale by
expanding B-to-C business
Continuous reduction of logistics costs and evolution of service
y gImprove competitiveness and profitability through B-to-B and B-to-C interaction
Fulfillmentservice
Basic Policy for Development of Logistics Platform
B-to-B business
Entire business
57
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 30
58
Handling of jump-start
Maintaining and improving the level
of service
Improving profitability
(Reducing logistics cost)
Strengthen the functions of existing distribution centers
Utilize existing supply-chain management system
Utilize existing delivery network
Expand areas under same-day delivery and products available for same-day or next-day delivery category by establishing new regional bases and increasing the size of key basesExpand resource-saving delivery service by using own delivery networkAchieve quick delivery by reviewing operation time
Take advantage of scale and improve operational efficiency by fully utilizing the existing logistics infrastructure (review of material handling equipment, etc.)
Reduce delivery costs by setting up regional bases
Streamline supply chain by collaborating with manufacturers
Three Key Points Upon Development of Logistics Platform
58
59
Distribution Platform Development Investment Plan (Draft)
59
(¥billion)Contract
basisAcquisition
basis
29.5 15.0 - 14.5 - - 29.5
5.0 5.0 - - - - 5.0
2.0 2.0 2.0 2.0 - - 4.0
2.2 2.2 - - - - 2.2
- - 2.0 2.0 1.0 1.0 3.0
- - - - 8.0 8.0 8.0
38.7 24.2 4.0 18.5 9.0 9.0 51.7Total
Metropolitan area expansion
Existing center upgrade
FY5/2013plan
Existing center revamp
New regional bases construction
Distribution system upgrade
FY5/2014plan
FY5/2015 onwardsplan
Total
Key center acquisition
Contract basis
Contract basis
Acquisitionbasis
Acquisitionbasis
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 31
60
B-to-B + B-to-C synergies, once again
Increase market share for product categoriesand volume handled
Drastic profitability improvement byinput cost reduction + logistics cost efficiency
60
61
Live up to the expectations of all stakeholders through increased sales and profits
Course of Action for Achieving Goals Five Years from Now
61
FY5/2012actual
¥212.9 billion ¥239.0 billion ¥300.0 billion+ ¥400.0 billion+
Of which, YASKUL (tentative name) − ¥18.0 billion Drastic growth Drastic growth
¥6.6 billion ¥7.3 billionStable
profit increaseHighest ever
− Profit secured Profit increaseDrastic
profit increase
¥3.0 billion ¥3.4 billion Doubling Slight decline
Before dilution
¥308 ¥198 ¥300+ Drastic increase ¥500+EBITDA per share
Consolidated net sales
¥500.0 billion+
¥20.0 billion+
Depreciation/ amortization
FY5/2013forecast
FY5/2014direction
FY5/2015–FY5/2016direction
FY5/2017target
Consolidated operating income
Of which, YASKUL (tentative name)
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 32
62
Ongoing Environment-related InitiativesOngoing Environment-related Initiatives
62
63
Supplier ASKUL Customer
Sales of energy-saving
products
Effective use of returned goods
Expand Internet-based
orders
Collectionservice
Recycling ofwaste
Introduce energy-saving
equipment
Promotemodal shift
Environment-friendlyvehicles
Cross dock
20haProject
ECO-TURN
: “Low-carbon”-related measures
: ”Resource circulation”-related measures
: “Green procurement”-related measures
Plan, develop environment-friendly
products
Environmental compliance of
original products
As an entity that links suppliers and customers, we have been implementing various environmental measures tied to the operations at each level of the distribution platform
We aim to deliver in “the most ecological format”
1 box for2 trees
Environmental Measures Across the Entire Distribution Platform
63
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 33
64
Promoting efficient procurement
For FY5/2012, we reviewed the procurement method for some imported items, switching to direct delivery by ship to the port nearest to the distribution centers in various parts of the country
Significant reduction in vehicular delivery in JapanReduction in procurement cost andCO2 emissions
[Before reforms]
[After reforms]
Introduction of energy-saving light fixtures
Level 1 of Osaka DMC
[Before introduction – Mar 2012] [After introduction – May 2012]
About 40% reduction in electricity usage
We actively switched to energy-saving light fixtures such as LED lamps as part of measures to slash electricity use at distribution centers
LED lights at Osaka DMCApr 2012: Installed 760 lightsAug–Sep 2012: Plan to install about 2,000 more
64
65
ECO-TURN Delivery
Started in April 2009 with the aim of enhancing the service to customers and to reduce environmental impact
Achieved 25% reduction in usage of packing materials per box in 3 years
25%reduction in packing
material per box
ECO-TURN SUPPLY(Collection service for toner and ink cartridges)
This is a service that collects toner and ink cartridges for free for reuse and recycling.
This contributes not only to 3R (reduce, reuse, recycle) initiatives at customer’s officebut also to cost reduction.
Achieves both differentiation as well as reduction of environmental burden
Supplier ASKUL Customer
65
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 34
66
A project that is aimed at revitalizing the local community and preserving biodiversity through reforestation efforts in Indonesia.The project was launched in December 2011 in cooperation with an Indonesian NGO and the local community to plant Jelutong, a local Indonesian species.
Started in December 2011
Jelutong Area under planting
23,585,659 trees(total as of February 2012)
Project where ASKUL takes the responsibility in checking the raw materials for copier papers in the future by carrying out industrial planting of 2 or more trees for each box of original copier paper made in Indonesia.
Status of tree planting available on exclusive website
Responsibility as the Leader in Copier Paper Sales in Japan
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6767
I. FY5/2012 Results
II. Towards New Growth Strategy
III. Background of Decision-making on Business and Capital Alliance
IV. Striving for Significant Growth
V. FY5/2013 Outlook
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 35
68
We plan to achieve double-digit growth in net sales through the steady growth in B-to-B business fueled by the impact of enhanced product range as well as through increased revenue from B-to-C business (year-on-year growth of ¥26.0 billion, or 12.2%).
We expect the gross profit margin to rise on the back of growth in B-to-C direct sales format. We will continue with the incentives to agents that delivered a certain level of success (¥1.0 billion).
SG&A expenses are expected to increase by ¥7.8 billion due to costs for jump-starting B-to-C (sales promotion, campaigns, etc.).
We expect double-digit growth in operating income by securing profits at YASKUL (tentative name) and through stable growth in B-to-B business.
We expect a significant rise in excess of 80% year-on-year in net income as the one-time increase in total income taxes (which has a negative impact on profits) is eliminated.
We plan to achieve profitability at YASKUL (tentative name) from the first year and expect double-digit growth in sales and profits
based on the stable growth in B-to-B business
Summary of FY5/2013 Consolidated Performance Outlook
68
69
FY5/2013 Consolidated Performance Outlook
69
212,932 100.0 239,000 100.0 +12.2
47,490 22.3 56,000 23.4 +17.9
40,873 19.2 48,700 20.4 +19.1
6,617 3.1 7,300 3.1 +10.3
6,504 3.1 7,200 3.0 +10.7
2,301 1.1 4,300 1.8 +86.8
Net Sales
Gross Profit
Selling, General and Administrative Expenses
Operating Income
Ordinary Income
Net Income
Amount(¥million)
Amount(¥million)
% of net sales
% of net sales
YoY change
%
FY5/2012 full year (actual) FY5/2013 full year (plan)
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 36
70
Consolidated Performance Outlook for 1H and 2H FY5/2013
70
111,000 100.0 +8.5 128,000 100.0 +15.8
25,400 22.9 +10.9 30,600 23.9 +24.5
22,200 20.0 +11.9 26,500 20.7 +26.3
3,200 2.9 +6.3 4,100 3.2 +13.7
3,200 2.9 +7.6 4,000 3.1 +13.3
1,400 1.3 +33.1 2,900 2.3 +132.0
1H FY5/2013
Net Sales
Gross Profit
Selling, General and Administrative Expenses
Operating Income
Ordinary Income
Net Income
Amount(¥million)
Amount(¥million)
% of net sales
% of net sales
YoY change
%
YoY change
%
2H FY5/2013
71
0
500
1,000
1,500
2,000
2,500
(¥billion)
FY5/2012 (actual)Consolidated net sales:
¥197.0 billion
FY5/2013 (forecast)Consolidated net sales: ¥239.0 billion
YoY change: +¥26.0 billionYoY growth: +12.2%
Incr
ease
in n
et sa
les f
rom
YASK
UL (t
enta
tive
nam
e)
Incr
ease
in n
et sa
les f
rom
SO
LOEL
ARE
NA a
nd
ASKU
L AR
ENA
Incr
ease
in s
net a
les f
rom
exi
stin
g bu
sines
ses
(incl
udin
g Al
phaP
urch
ase)
+18.0+3.6+4.5
Existing businesses, etc. (forecast)Net sales: ¥163.0 billionYoY change: +¥3.6 billionYoY growth: +2.2%
SOLOEL ARENA, etc. (forecast)Net sales: ¥57.9 billionYoY change: +¥4.5 billionYoY growth: +8.4%
YASKUL (tentative name) (forecast)
Net sales: ¥18.0 billionYoY change: +¥18.0 billion
Main Factors Affecting FY5/2013 Consolidated Net Sales Forecast
71
250.0
200.0
150.0
100.0
50.0
o
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 37
72
0
50
100
150
FY5/2012 operating income (actual): ¥6.6 billion
(¥billion)
Incr
ease
in in
com
e du
e to
sa
les g
row
th
+58
FY5/2013 operating income (forecast): ¥7.3 billion
FY5/2012 (actual)Sales growth YoY: +8.0%Gross profit margin: 22.3%SG&A expense ratio: 19.2%
Incr
ease
in in
com
e du
e to
hig
her
gros
s pro
fit m
argi
n
Decr
ease
in in
com
e du
e to
hi
gher
SG&
A ex
pens
es
+26
FY5/2013 (forecast)Net sales growth YoY: 12.2%Gross profit margin: 23.4%SG&A expense ratio: 20.4%
△78
Factors Affecting FY5/2013 Consolidated Operating Income Forecast
Increase in variable costs on increased net sales: ¥3.6 billion
Policy cost for YASKUL (tentative name): ¥2.1 billion
Others (include fixed costs of YASKUL(tentative name): ¥1.9 billion
72
5.0
10.0
15.0
+5.8
+2.6 -7.8
0
73
Net sales ¥239.0 billion (YoY change: +¥26.0 billion; +12.2%)
We aim to achieve double-digit growth through the steady growth in B-to-B business fueled by the impact of expansion of product range and enhancement of own-brand products in addition to increased revenue from B-to-C business.
• YASKUL (tentative name) net sales target: ¥18.0 billion (YoY change: +¥18.0 billion)
• SOLOEL ARENA, etc. net sales target: ¥57.9 billion (YoY change: +¥4.5 billion)
• Existing businesses, etc. net sales target: ¥163.0 billion (YoY change: +¥3.6 billion)
Gross profit margin: 23.4% (YoY change: +1.1p.p.)- We expect an increase in gross profit margin through expanded sales from B-to-C
business, which takes a direct sales format. - We will continue with the incentives for agents which had a certain measure of success (¥1.0 billion).
FY5/2013 Consolidated Performance Outlook
73
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 38
74
SG&A expense ratio: 20.5% (YoY change: +1.3 p.p.) +¥7.8 billion
Capital expenditure ¥27.4 billion[Main items]• Distribution center investments (described earlier) ¥24.2 billion• B-to-C website construction ¥0.5 billion• Additional development for SOLOEL ARENA ¥0.2 billion
(Reference) Depreciation and software amortization: ¥3.4 billion (YoY change: +¥0.4 billion)
We anticipate an increase of ¥7.8 billion after factoring in the cost for jump-start of B-to-C (sales promotion, campaign, etc.)
• YASKUL (tentative name) policy cost (sales promotion, campaign, etc.) ¥2.1 billion• Variable cost increase following net sales increase ¥3.6 billion
FY5/2013 Consolidated Performance Outlook
74
75
Returning Profit to Shareholders: Dividend
Basic policy on allocation of earnings
Allocate earnings based on the comprehensive assessment of various factors, striking a good balance between two goals⎯namely, “securing sufficient internal reserves for financing capital expenditures to increase the corporate value over a mid- to long-term period” and “pursuing a dividend policy as a means to deliver appropriate returns to meet the expectations of shareholders”⎯while ensuring strong cash flows and sound financial position.
FY5/2012 dividends (plan)
The total number of outstanding shares rose due to the issuance of new shares through third-party allocation, while we have secured funding for ensuring sound financial position and capital expenditures for the time being. At the same time, in addition to the tie-up with Yahoo Japan Corporation, we expect a significant increase in net income from the impact of prioritizing and focusing on business from FY5/2013 onwards. Based on the above policy, we therefore intend to make a stable payment of dividends from surplus to shareholders as planned at the beginning of the period.
Annual dividend of ¥30 (an interim dividend of ¥15 and a fiscal year-end dividend of ¥15) per share
FY5/2013 dividends (forecast)Annual dividend of ¥30 (an interim dividend of ¥15 and a fiscal year-end
dividend of ¥15) per share75
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 39
76
ASKUL: Evolving for
Our Customers
76
7777
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 40
78
Appendix
78
79
(2) ASKUL original productsMay 2012
(single month)YoY change
May 2011 (single month)
Number of original products 3,602 +258 3,344
Ratio of Green Products: SKU basis
100.0%(75.9%)
+5.7 p.p.(-0.2 p.p.)
94.3%(76.1%)
Share in net sales 14.1% +0.9 p.p. 13.2%
(SKUs)
<Appendix>
Notes:1. The figures above are the results for the month of May each year.2. The ratio of Green Products is computed after excluding national brand products sold exclusively at ASKUL. Further, a new standard that also
includes products from an environmental perspective other than Green Mark has been adopted since 2Q of FY5/2012. The figures in parenthesis above are the ratios of Green Products based on the previous standard.
3. Net sales of original products used as the numerators in calculating the shares in net sales do not include net sales of original copier paper. 4. The figures above include the products listed in Medical & Care Catalogs and Medical Pro Catalogs.
(1) Share of orders placed on the Internet in net sales
FY5/2012 YoY change FY5/2011
Orders via the Internet 67.9% +4.1 p.p. 63.8%
Other 32.1% -4.1 p.p. 36.2%
Notes: 1. The percentages above are based on orders placed. 2. The figures above are results at the parent for each year.
79
FY5/2012 Full-Year Performance (July 4, 2012)12/7/26 10時9分
Copyright(c) 2012 ASKUL Corporation. All rights reserved. 41
80
Construction in progress 8 -63.8% 23
Software in progress 87 -74.7% 344
(¥million)
(Reference)
ItemFY5/2012 FY5/2011
Amount YoY change Amount
[Capital expenditures] 2,621 +14.2% 2,296
Property, plant and equipment 1,086 +99.3% 545
Intangible assets 1,534 -12.4% 1,750
(3) Capital expenditures
Notes:1. Capital expenditures are stated on an accrual basis and do not reflect reductions.2. Construction in progress and software in progress partially include consumption and other taxes. 3. Major capital expenditure items for FY5/2012 were as follows.
Next-generation web development ¥0.64 billion
Material handling equipment system (DCM Center) ¥0.45 billion
<Appendix>
80