2 0 0 9 3 FY08 2Q Statements of Income Consolidated Basis Cost of sales before inventory write-down Inventory write-down 07.9 08.9 JPY in Millions Sales 33,792 31,896 31,718 93.9 99.4 Cost of sales Gross margin SG & A Operating income Recurring income Net income FY08 Actuals Forecast FY09 Actuals vs. PY vs. Forecast 100.0 100.0 100.0 9,289 9,740 9,394 101.1 96.5 27.5 30.5 29.6 2.1-0.9 335 213 393 117.3 184.8 1.0 0.7 1.2 0.2 0.5 9,625 9,953 9,788 101.7 98.3 28.5 31.2 30.9 2.4-0.3 24,167 21,943 21,930 90.8 99.9 71.5 68.8 69.1-2.4 0.3 20,732 20,740 20,992 101.3 101.2 61.4 65.0 66.2 4.8 1.2 3,435 1,202 938 27.3 78.0 10.2 3.8 3.0-7.2-0.8 3,823 1,224 1,080 28.3 88.2 11.3 3.8 3.4-7.9-0.4 2,127 304 275 13.0 90.6 6.3 1.0 0.9-5.4-0.1 1
FY08 2Q Statements of Income Non-consolidated Basis 07.9 08.9 Retail sales 32,636 29,954 29,702 91.0 99.2 Sales 30,464 28,240 27,977 91.8 99.1 Cost of sales before inventory write-down Inventory write-down Cost of sales Gross margin SG & A Operating income Recurring income Net income JPY in Millions FY07 Actuals Forecast FY08 Actuals vs. PY vs. Forecast 100.0 100.0 100.0 8,048 8,358 8,047 100.0 96.3 26.4 29.6 28.8 2.3-0.8 335 213 393 117.3 184.8 1.1 0.8 1.4 0.3 0.7 8,383 8,571 8,441 100.7 98.5 27.5 30.4 30.2 2.7-0.2 22,080 19,669 19,535 88.5 99.3 72.5 69.6 69.8-2.7 0.2 18,768 18,465 18,574 99.0 100.6 61.6 65.4 66.4 4.8 1.0 3,312 1,203 960 29.0 79.9 10.9 4.3 3.4-7.4-0.8 3,490 1,312 1,164 33.3 88.7 11.5 4.6 4.2-7.3-0.5 1,756 392 384 21.9 97.8 5.8 1.4 1.4-4.4 0.0 SG&A Expenses JPY in Millions Amount Consolidated Basis vs. PY Value vs. PY % Non-consolidated Basis Amount vs. PY Value vs. PY % Promotion Expenses Advertisement Expenses Distribution Costs Wages Rent Other SG&A Thereof Depreciation Total 1,465 723 194 11,020 4,582 3,005 772 20,992 126 167 0 17 150 52 45 260 92.1% 130.1% 99.6% 100.2% 103.4% 101.8% 106.8% 101.3% 1,459 627 181 9,943 3,839 2,522 637 18,574 107 132 9 156 1 53 45 193 93.2% 126.8% 94.9% 98.4% 100.0% 97.9% 107.7% 99.0% 2
FY08 Balance Sheets Consolidated Basis JPY in Millions 38,636 5,115 307 Current Assets Fixed Assets Total Assets 21,284 440 497 59,921 5,556 805 Current Liabilities Fixed Liabilities Total Liabilities Total Shareholders' Equity Total Liabilities and Equity 8,348 1,741 635 562 99 36 8,910 1,641 599 51,011 3,914 1,404 59,921 5,556 805 Extraordinary Gains / Losses JPY in Millions Account Consolidated Non-consolidated Loss on sales of fixed assets 68 74 Asset impairment loss Loss on store closures 12 17 Allowance oss on store closures 70 70 Loss from Subsidiary 23 Other 17 17 Extraordinary Losses 169 202 3
FY08 Statements of Cash Flows Consolidated Basis JPY in Millions 07.4 07.9 07.4 08.3 08.4 08.9 Cash Flows from Operating Activities 2,344 1,390 1,811 Cash Flows from Investing Activities 25 1,621 834 Cash Flows from Financing Activities 3,319 5,666 1,607 Cash and Cash Equivalents at End of Year 25,786 20,850 20,215 1,101 16 5 FY08 2Q Results of Overseas Subsidiaries Changes in Sales Real vs. PY 113.8 Constant vs. PY 117.8 Changes in Op. Inc. 15.3 16.9 JPY in Millions 4,100 4,000 3,900 313 3,998 JPY in Millions 180 150 3,800 3,700 3,600 3,500 3,512 101 77 17-5 -10-8 120 90 143 3,400 3,300 60 3,200 30 3,100 3,000 FY07 China Australia Singapore Malaysia Thailand Europe Others FY08 0 FY07 21 FY08 4
1 2 3 1 5
CM 6
7
8
9
2 1 2 3 2 10
11
TOKYO-BAY 3 12
1 2 3 2009 3 15.75 15 31 15.75 31.50 FY08 (Forecast) Interim 15.75 Year-end end (Forecast) 15.75 Annual (Forecast) 31.50 13
FY08 Consolidated Forecast Net sales Operating income Recurring income Net income JPY in Millions 08.3 63,876 3,881 4,500 1,906 09.3 63,372 2,692 2,837 1,101 35 60 3,000 96.5 69.6 97.3 65.4 99.9. 99.2 69.4 63.0 57.8 14
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EBITDA EBITDA 5.9% 6.0% 11.9% 12.0% 23.7% 23.8% 50.0% 40.0% EBITDA % y = 0.1362Ln x + 0.4333 R 2 = 0.7003 30.0% 20.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 10.0% % 0.0% -10.0% -20.0% EBITDA 28% 37% 34% 8% 16
1,800 1,600 1,400 1460 1,200 1,000 800 1082 225 21% 171 16% 876 600 400 200 0 613 57% 74 6 517 153-86 -200 EBITDA 4 17
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