Financial Information
Lower sales for the AUTOBACS chain as a whole and lower wholesale results from the effects of ongoing store inventory efficiency efforts led to lower sales and earnings.
For the fiscal year ended March 31, 2017, the Company Group reported net sales of ¥204 billion, down 2.0% year on year. This decline occurred mainly because of lower net sales for the AUTOBACS chain as a whole, and because of the effects of ongoing franchisee inventory efficiency improvements and lower sales at AUTOBACS SEVEN, which wholesales merchandise to AUTOBACS chain stores. Turning to earnings, gross profit fell 1.2%, compared to the previous year, while gross margin rose 0.2 percentage points. Nevertheless, with SG&A expenses basically unchanged from the year earlier, operating income declined 13.0%, to ¥5.8 billion. After accounting for factors such as extraordinary losses of ¥2.6 billion, including fixed asset impairment losses on land and buildings related to facilities for the benefit of employees and related to stores, profit attributable to owners of parent declined 31.0%, to ¥3.0 billion.
Highlights of Financial Results
| AUTOBACS SEVEN Co., Ltd. and Consolidated Subsidiaries Fiscal year ended on March 31 for each displayed year | Millions of yen | Thousands of U.S. dollars (Note 1) | ||||
|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2017 | ||
| Fiscal Year: | ||||||
| Net sales | ¥231,697 | ¥209,455 | ¥208,142 | ¥204,033 | $1,821,723 | |
| Wholesale | 132,733 | 124,279 | 117,848 | 115,637 | 1,032,473 | |
| Retail | 95,540 | 82,039 | 87,310 | 85,566 | 763,982 | |
| Others | 3,422 | 3,136 | 2,984 | 2,830 | 25,268 | |
| Operating income | 13,945 | 6,404 | 6,701 | 5,829 | 52,045 | |
| Income before income taxes and minority interests | 16,086 | 9,053 | 7,558 | 4,474 | 39,956 | |
| Profit attributable to owners of parent | 9,786 | 4,610 | 4,371 | 3,015 | 26,929 | |
| Net cash provided by operating activities | 12,072 | 11,829 | 10,564 | 9,488 | 84,714 | |
| Net cash used in investing activities | 1,519 | (2,403) | (4,984) | (7,147) | (63,821) | |
| Net cash used in financing activities | (11,166) | (12,618) | (11,154) | (7,457) | (66,580) | |
| Free cash flows | 13,591 | 9,426 | 5,580 | 2,341 | 20,902 | |
| Capital expenditures | 4,820 | 6,127 | 5,895 | 4,842 | 43,241 | |
| Depreciation and amortization | 4,551 | 4,805 | 4,012 | 4,384 | 39,143 | |
| At Year-End: | ||||||
| Total assets | ¥201,481 | ¥186,532 | ¥180,454 | ¥176,708 | $1,577,750 | |
| Equity | 143,979 | 138,338 | 131,455 | 127,079 | 1,134,634 | |
| Interest-bearing liabilities | 6,771 | 6,860 | 6,296 | 8,282 | 73,946 | |
| Per Share Data (Yen and Dallors (Note1)): | ||||||
| Basic net income | ¥107.71 | ¥52.83 | ¥51.60 | ¥36.00 | $0.32 | |
| Cash dividends | 64.00 | 60.00 | 60.00 | 60.00 | 0.54 | |
| Dividend payout ratio (%) | 59.4 | 113.6 | 116.3 | 166.7 | — | |
| Dividend on equity (DOE) (%) | 4.1 | 3.7 | 3.8 | 3.9 | — | |
| Total shareholder return ratio (%) | 105.8 | 222.2 | 235.4 | 255.7 | — | |
| Management Indicators: | ||||||
| Operating income margin (%) | 6.0 | 3.1 | 3.2 | 2.9 | ||
| Return on equity (%) | 6.8 | 3.3 | 3.2 | 2.3 | ||
| Return on assets (%) | 4.8 | 2.5 | 2.4 | 1.7 | ||
| Equity ratio (%) | 71.5 | 74.3 | 72.8 | 71.9 | ||
| Non-Financial Data: | ||||||
| Number of domestic stores | 571 | 584 | 599 | 601 | ||
| Domestic stores operated by franchisees | 415 | 423 | 433 | 444 | ||
| Number of overseas stores | 27 | 27 | 33 | 38 | ||
| Overseas stores operated by franchisees | 10 | 10 | 12 | 17 | ||
| Active Members (1,000) (Note 2) | 6,954 | 8,587 | 8,541 | 8,301 | ||
| Number of employees | 4,466 | 4,263 | 4,347 | 4,200 | ||
| Number of automobile mechanics (Note 3) | 3,653 | 3,780 | 3,781 | 3,788 | ||
| Number of directors (of which, outside directors) | 8(3) | 8(3) | 8(3) | 8(3) | ||
| Number of auditors (of which, outside auditors) | 4(3) | 4(3) | 4(3) | 4(3) | ||
| Electricity usage (MW) (Note 4) | 7,515 | 7,097 | 6,810 | 7,076 | ||
| CO2 emissions(t-CO2) (Note 4) | 4,787 | 4,503 | 4,060 | 4,489 | ||
- (Notes)
- 1. U.S. dollar amounts are converted at a rate of ¥112=US$1, which prevailed on March 31, 2017.
- 2. Beginning with the fiscal year ended March 31, 2015, “active members” is defined as the number of customers who made a purchase within the past year.
- 3. All chain employees who have obtained the Automobile Mechanic (Level 1, 2, or 3) national qualification.
- 4. Total for AUTOBACS SEVEN Co., Ltd.'s headquarters, regional business locations, directly managed stores, and logistics centers. (Does not include subsidiaries)
