ANNUAL REPORT 2021
1
TABLE OF CONTENTS
01 | 02 | 04 |
CORPORATE | AT | OUR |
PROFILE | A GLANCE | BRANDS |
07 | 08 | 11 |
OUR | CHAIRMAN'S | FINANCIAL |
NETWORK | MESSAGE | HIGHLIGHTS |
15 | 19 | 20 |
OPERATING AND | CORPORATE | BOARD OF |
FINANCIAL REVIEW | STRUCTURE | DIRECTORS |
22 | 24 | 25 |
KEY | CORPORATE | SUSTAINABILITY |
MANAGEMENT | INFORMATION | REPORT |
This annual report has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor") in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. This annual report has not been examined or approved by the SGX-ST and the SGX- ST assumes no responsibility for the contents of this annual report, including the correctness of any of the statements or opinions made or reports contained in this annual report. The contact person for the Sponsor is Ms Tan Cher Ting, Director, Investment Banking, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.
CORPORATE PROFILE
Established in Singapore in 1997 and listed on the Catalist Board of the Singapore Exchange Securities Trading Limited in February 2009, Japan Foods Holding Ltd ("Japan Foods") is one of the leading Japanese restaurant chains in Singapore. Constantly evolving with changing consumer tastes, Japan Foods has successfully expanded its restaurant portfolio to encompass both franchised and self-developed Japanese- concept brands. To widen its customer reach, the Group launched its first Japanese Halal concept restaurant called "Tokyo Shokudo" in 2020.
Regionally, the Group's network extends beyond Singapore to include a restaurant in Malaysia under a sub-franchise agreement and restaurants in Hong Kong, China and Indonesia operated by associated companies.
Japan Foods also has a joint venture company with Minor Food Group (Singapore) Pte Ltd ("Minor Singapore") to conduct the business of franchising and operating existing restaurant brands owned by the Group and Minor Singapore in Thailand, Japan and the People's Republic of China. In 2020, the parties broadened its partnership to jointly launch a Japanese pizza concept in Singapore called "Pizzakaya".
For its efforts in corporate governance, Japan Foods was named the "Most Transparent Company (Catalist)" at the 17th SIAS Investors' Choice Awards in 2016 and also awarded the "Transparency Award - SMEs" at the 18th SIAS Investors' Choice Awards 2017. In July 2018, the Group received the "Best Managed Board Award (Gold)" at the Singapore Corporate Awards 2018 and in September 2018, it was named Runner-Up in the "Most Transparent Company - Hotel / Restaurant" award category at the 19th SIAS Investors' Choice Awards 2018.
6 SELF-DEVELOPED BRANDS | 10 FRANCHISED BRANDS FROM JAPAN | |
RAMEN HOUSE
1 FRANCHISE BRAND FROM MALAYSIA
ANNUAL REPORT 2021
01
AT A GLANCE
OUR NETWORK AND OPERATIONS
(As at 31 March 2021)
50
Self-Operated Restaurants
1
Restaurant in Singapore operated by
joint venture company
1
Central Kitchen at Kampong Ampat,
Singapore
20
Outlets in China, Hong Kong and
Indonesia through Associated
Companies & 1 Sub-Franchised
Outlet in Malaysia
OUR FOUR-PRONGED STRATEGY
DEVELOPMENT OF | COST & QUALITY | PRUDENT PORTFOLIO | OVERSEAS | |||||||||||||||||||||||||||||||||||||||||||||
NEW CONCEPTS | CONTROL | MANAGEMENT | EXPANSION | |||||||||||||||||||||||||||||||||||||||||||||
• Explore compelling | • | Improve economies | • | Practise good | • Grow via strategic | |||||||||||||||||||||||||||||||||||||||||||
new franchise | of scale and central | and prudent | investments such | |||||||||||||||||||||||||||||||||||||||||||||
brands and establish | kitchen and bulk | management of | as acquisitions, joint | |||||||||||||||||||||||||||||||||||||||||||||
self-developed | purchase | our Singapore and | ventures or through | |||||||||||||||||||||||||||||||||||||||||||||
brands | overseas restaurant | partnerships | ||||||||||||||||||||||||||||||||||||||||||||||
• | Improve operational | and brand portfolios | ||||||||||||||||||||||||||||||||||||||||||||||
efficiency via | ||||||||||||||||||||||||||||||||||||||||||||||||
streamlining of | • | Close/convert | ||||||||||||||||||||||||||||||||||||||||||||||
work processes and | underperforming | |||||||||||||||||||||||||||||||||||||||||||||||
technology | outlets to drive higher | |||||||||||||||||||||||||||||||||||||||||||||||
same store sales | ||||||||||||||||||||||||||||||||||||||||||||||||
JAPAN FOODS HOLDING LTD.
02
AT A GLANCE
OUR FOCUS ON SHAREHOLDERS' VALUE
We are focused on growing long-term shareholders' value and we have been consistently rewarding shareholders with cash dividends since FY2009.
Our total dividend payment in respect of FY2021 will be 2.5 Singapore cents per share, comprising the interim dividend of 0.75 Singapore cent per share already paid in December 2020 and the proposed final dividend of 1.75 Singapore cents per share. This represented a total dividend payout of 120.1%
of our Group's net profit in FY2021, which is higher than our previous dividend policy1 to distribute not less than 50% of our consolidated net profits attributable to shareholders annually.
Japan Foods will be revising its dividend policy1 to distribute at least 100.0% of net profit attributable to equity holders of the Company annually, up from 50.0% previously. This will be applicable from the financial year ending 31 March 2022.
Dividend History
DIVIDEND PER SHARE (SINGAPORE CENTS) | DIVIDEND PAYOUT RATIO (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3.00 | 300% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2.50 | 250% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.50 | 214.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2.00 | 200% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1.50 | 150% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
120.1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1.00 | 1.00 | 1.27 | 1.25 | 1.25 | 1.30 | 1.10 | 0.25 | 1.75 | |||||||||||||||||||||||||||||||||||||||||||||||||
1.00 | 0.40 | 0.70 | 45.0% | 74.6% | 92.2% | 74.6% | 63.1% | 98.9% | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||
0.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30.0% | 53.2% | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
31.0% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.00 | 0.40 | 0.35 | 0.90 | 1.10 | 0.73 | 0.75 | 0.75 | 0.80 | 0.80 | 1.00 | 0.75 | 0% | |||||||||||||||||||||||||||||||||||||||||||||
FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Shareholders' Equity | Interim | Final | Special | Payout Ratio | |||||||||||||||||||||||||||||||||||||||||||||||||||||
S$' MILLION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30.6 | 30.9 | 31.6 | 34 | 33.8 | 31.4 | 33.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||
29.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30 | 25.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20.5
17.5
20
10
0
FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 |
- The Group's dividend policy shall be subject to the Group's business requirements and other relevant considerations and barring unforeseen circumstances.
The actual dividend pay-out ratio will depend on the Group's operating results, financial conditions such as cash position and retained earnings, other cash requirements including capital expenditure, restrictions on payment of dividends imposed on the Group by financing arrangements (if any) and other factors deemed relevant by the Directors.
ANNUAL REPORT 2021
03
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Japan Foods Holding Ltd. published this content on 06 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2021 23:41:02 UTC.