BAROQUE JAPAN LIMITED FY2022/02 Third Quarter Financial
Results and Supplementary Information
January 14,2022
Tokyo Stock Exchange First
Section: 3548
Slide 1
- FY2022/02 Third Quarter Result Overview
- Business Highlights
- FY2022/02 Outlook
COPYRIGHT © 2022 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Third Quarter Summary
Slide 2
- Consolidated Sales increased by 119.4% YoY, with OP and the following below also having increased.
- The Sales and Profits of Domestic Sales increased significantly YoY due to a recovery trend in sales in the third quarter.
- Regarding to Overseas business, Sales and Profits increased significantly YoY.
Item | Cumulative Third | Last year | YoY | Movement | Multi-Year YoY |
Quarter Actual | |||||
Consolidated Sales: | ￥43.10 bil | ￥36.09 bil | 119.4% | ￥7.01 bil | 89.3% |
Consolidated | |||||
￥2.43 bil | ￥1.18 bil | 205.1% | ￥1.24 bil | 61.7% | |
Operating Profit: | |||||
Consolidated Recurring | |||||
￥2.65 bil | ￥0.88 bil | 300.1% | ￥1.76 bil | 67.9% | |
Profit: | |||||
Consolidated Net | ￥1.51 bil | ￥0.22 bil | 679.1% | ￥1.29 bil | 62.5% |
Profit: | |||||
COPYRIGHT © 2022 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Third Quarter Summary
Japan Business Overview
Slide 3
- In the third quarter, SC and department stores showed a recovery in customer traffic due to the lift of the State of Emergency, and at the same time, the temperature dropped, and the sales of outerwear were strong and, Domestic Sales increased 118.2% YoY. GP and OP also increased.
40.0 | 70% | |
37.57 | ||
35.0 | ||
31.79 | ||
30.0 | 65% | |
J | ||
P 25.0 | ||
22.91 |
- 19.06
20.0 | 60% | ||||||||||||
18.1 | |||||||||||||
b | |||||||||||||
61.0% | |||||||||||||
i 15.0 | 59.9% | ||||||||||||
l | |||||||||||||
10.0 | 55% | ||||||||||||
7.6 | |||||||||||||
5.0 | |||||||||||||
0.0 | 50% | ||||||||||||
FY2021/02 3Q | FY2022/02 3Q | ||||||||||||
Sales | GP | OP | GP Margin | ||||||||||
Domestic Sales:￥37.57 bil（Previous Year ￥31.79 bil 118.2％ YoY）
- Store sales increased while the number of customers in the SC brands and department store brands recovered steadily. Department store brands outerwear drives sales as temperatures drop after October.
- Promoting OMO measures utilizing SNS, EC sales increased 112.6 % YoY.
Domestic GP: ￥22.91 bil（Previous Year ￥19.06 bil 120.2％ YoY）
- Suppress the decline in the conversion rate by promoting sales of the appropriate amount at the appropriate price. GP margin on a cumulative basis improved by 1.1pts YoY.
Domestic SG&A: ￥21.10 bil（Previous Year ￥18.29 bil 115.4％ YoY）
- Although advertising expenses and sales promotion expenses increased due to measures to increase sales were strengthened, we continued to sharpen cost reductions and suppressed the SG&A to Sales ratio to a level of -1.3pts YoY.
As a result, Domestic OP was ￥1.81 bil (previous year ￥0.76 bil 236.6% YoY)
COPYRIGHT © 2022 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
FY2022/02 Third Quarter Summary
Overseas Business Overview
Slide 4
- Although the spread of Covid-19 epidemic was scattered in some area of China in the third quarter, the Chinese business remains strong partly due to a growth of EC.
- Demand for high-end products are still strong in the U.S. and the U.S. business exceeded the pre- Covid-19 epidemic level and grew rapidly.
China JV Sales ￥5.35 bil （ Previous Year ￥4.26 bil 125.4％ YoY）
- Chinese EC Sales increased 138.6％ YoY（EC ratio in third quarter was 19.2%）
- Royalties from Chinese retailers has increased significantly in real by 120.4％ YoY
- Currently, the total number of stores at the end of September became 313 stores a net increase of 9 since the end of June（Opened：24 Closed：15). Continue to open stores with a view to further strengthening locally designed products.
China JV Profit ￥0.45 bil（ Previous Year ￥0.08 bil 567.6％ YoY）
- China's JV profits are steadily increasing and contributing to consolidated business results while the top line is growing.
Other Overseas Business Operations（U.S. Business, Hong Kong Business, etc.）
- In the U.S. business, while the mainstay luxury Japanese denim continues to perform well, the U.S. business shows an increase in sales and profits, contributing to consolidated business results.
- Regarding the Hong Kong business, the impact of restrictions on traffic to and from mainland China continues.
COPYRIGHT © 2022 BAROQUE JAPAN LIMITED. ALL RIGHTS RESERVED.
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Baroque Japan Ltd. published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 06:11:10 UTC.
