BAROQUE JAPAN LIMITED FY2022/02 Second Quarter Financial Results and Supplementary Information
October 15,2021
Tokyo Stock Exchange First
Section: 3548
Slide 1
- FY2022/02 Second Quarter Result Overview
- Business Highlights
- FY2022/02 Outlook
COPYRIGHT © 2021 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Second Quarter Summary
Slide 2
- Consolidated Sales increased by 126.9% YoY, with OP and the following below also having increased.
- Despite the impacts of the State of Emergency and other factors on Domestic Sales, the second quarter realized a net surplus.
- Overseas business operations, mainly in China and the U.S, contributed greatly to these consolidated results with their significant increases in Sales and Profit.
Item | FY2022/02 | FY2021/02 | YoY | Movement | Multi-Year YoY |
Consolidated Sales:
Consolidated Operating Profit:
Consolidated Recurring Profit:
Consolidated Net
Profit:
￥26.56 bil | ￥20.92 bil | 126.9% ￥5.63 bil | 85.0% |
￥0.52 bil | ￥0.44 bil | － ￥0.97 bil 25.6% |
￥0.75 bil | ￥-0.85 bil | － ￥1.61 bil 36.4% |
￥0.29 bil | ￥-0.91 bil | － ￥1.21 bil 24.3% |
COPYRIGHT © 2021 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Second Quarter Summary
Japan Business Overview
Slide 3
- EC sales grew significantly, realizing at 114.1% YoY. In-house EC sales rose to 106.2% YoY, as well as 3rd-party EC sales at 125.4% YoY. Although in-store sales decreased through August due to the impact of the 5th wave of the Covid-19 pandemic, strong EC sales compensated for those deficiencies. Domestic Sales increased 127.2% YoY, and GP and OP also increased.
25.0 | 70% | ||||||||||||||||
23.53 | |||||||||||||||||
20.0 | |||||||||||||||||
18.5 | |||||||||||||||||
65% | |||||||||||||||||
15.0 | |||||||||||||||||
13.8 | |||||||||||||||||
JPY bil 10.0 | 10.31 | 60% | |||||||||||||||
58.6% | |||||||||||||||||
5.0 | 55% | ||||||||||||||||
55.7% | -0.72 | 0.27 | |||||||||||||||
0.0 | |||||||||||||||||
FY2021/02 2Q | FY2022/02 2Q | ||||||||||||||||
-5.0 | 50% | ||||||||||||||||
Sales | GP | OP | GP margin | ||||||||||||||
Domestic Sales:￥23.53 bil（Previous Year ￥18.50 bil 127.2％ YoY）
- Proactive promotion of OMO strategies in marketing, across SNS platforms, and other channels contributed to successes across the Covid-19 pandemic period.
Domestic GP:￥13.80 bil（Previous Year ￥10.31 bil 133.8％ YoY）
- As a result of curtailing discount sales promotion, Q1 saw steady sales achievement and despite the impact of Covid-19 witnessed in Q2, overall sales improved YoY.
Domestic SG&A:￥13.52 bil（Previous Year ￥11.04 bil 122.5％ YoY）
- Contributed to company-wide cost reduction efforts, Domestic SG&A-to-Sales saw improvement by 2.2 pts YoY.
As a result, Domestic OP was ￥0.27 bil (previous year ￥-0.72 bil ￥+1.00 bil YoY)
COPYRIGHT © 2021 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Second Quarter Summary
Overseas Business Overview
Slide 4
- Amidst continued strong consumer spending patterns in China, Chinese business operations saw significant YoY growth, contributing significantly to corporate consolidated results.
- With recovering across the U.S. apparel retail sector continuing, U.S. business operations have remained strong.
China JV Sales ￥3.13 bil （Previous Year ￥2.27 bil 137.6％ YoY）
- Chinese EC Sales increased 121.9% YoY.
- Royalties from Chinese retailers has increased significantly by 141.6% YoY.
- Currently, the total number of stores at the end of June became 304 stores, a net increase of 5 since the end of the previous fiscal year (Opened: 25, Closed: 20). While optimizing OMO strategies, current projections aim for a net increase of 20 stores per year.
China JV Profit ￥ 0.37 bil （Previous Year ￥ -0.17 bil ￥ +0.54 bill YoY）
- Although impacted by the Covid-19 pandemic in the previous year, China JV profits recovered in the current fiscal year and contributed to consolidated results.
Other Overseas Business Operations（U.S. Business, Hong Kong Business, etc.）
- In regards to U.S. Business, demand for high-end Japanese denim driving business abroad continued to grow. As such, the current period saw similar contributions to consolidated results following the previous fiscal year.
- In regards to Hong Kong business, restrictions on travel from China Mainland and other factors continued to impact operations.
COPYRIGHT © 2021 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
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Baroque Japan Ltd. published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 06:11:10 UTC.
