(stores, millions of yen)
| 2008/2 | 2009/2 | 2010/2 | 2011/2 (Plan) |
||
|---|---|---|---|---|---|
| The Number of Stores | Stores Opened | 339 | 312 | 316 | 348 |
| Stores Closed | 488 | 287 | 277 | 302 | |
| Stores at Year-end | 5,238 | 5,263 | 5,302 | 5,448 | |
| Total Store Sales and Total Operating Revenues | Total Store Sales | 902,423 | 940,232 | 902,318 | 912,120 |
| Total Operating Revenues | 206,373 | 213,398 | 194,142 | 194,300 | |
| Key Financial Indicators | Operating Income | 21,095 | 23,009 | 15,199 | 14,300 |
| Ratio of Operating Income to Total Store Sales | 2.3% | 2.4% | 1.7% | 1.6% | |
| Recurring Profit | 19,470 | 22,566 | 14,607 | 13,200 | |
| Net Income | 8,579 | 9,435 | 5,554 | 5,090 | |
| Net Income Per Share (yen) | 102.4 | 112.7 | 66.3 | 60.8 | |
| Total Assets | 218,821 | 222,305 | 224,843 | - | |
| Shareholders' Equity | 124,631 | 130,656 | 132,831 | - | |
| Shareholders' Equity Ratio | 57.0% | 58.8% | 59.1% | - | |
| Return on Equity (ROE) | 7.0% | 7.4% | 4.2% | 3.8% | |
| Return on Assets (ROA) | 10.1% | 10.8% | 6.8% | - | |
In the fiscal year ended February 28, 2010 (“the fiscal year under review”), Circle K Sunkus opened its first stores in Fukuoka Prefecture, a business area that represents the 38th prefecture covered by the Circle K Sunkus Group. In the fiscal year under review, the Company opened 316 stores, including 11 stores in Fukuoka Prefecture, while closing 277 stores. As a result, the Company had 5,302 stores at year-end (February 28, 2010), representing a net increase of 39 stores from a year earlier. In the February 2010 fiscal year, we continued to prioritize quality in opening new stores, but faced challenges including the end of the boost in sales from the introduction of taspo card systems and generally weak consumption. Consequently, average daily sales at newly opened stores decreased ￥41,000 from the previous year to ￥414,000 on a non-consolidated basis.
During the fiscal year under review, existing store sales declined 5.6% year on year on a non-consolidated basis, mainly due to generally lackluster consumer spending and low-price preferences, as well as weather-related factors such as a mild summer. Another factor was decreased tobacco sales due to the end of a boost from the introduction of so-called “taspo card systems.” Consequently, total store sales declined ￥37,900 million year on year to ￥902,318 million. Total operating revenues at Circle K Sunkus decreased ￥19,200 million to ￥194,142 million due to decreased net sales from Company-owned stores reflecting progress with reductions in these stores, as well as decreased franchise commission from franchised stores in line with lower net sales.
During the fiscal year under review, selling, general and administrative (SG&A) expenses were projected to surpass the previous year based on higher projected costs related to large-scale investments in new information systems and service equipment, which were made in the previous fiscal year. Nonetheless, by rigorously pursuing cost effectiveness and reducing inefficiencies, we reduced SG&A expenses to ￥2,600 million below our initial target. However, these efforts were unable to make up for decreased operating gross profit in line with lower net sales. Consequently, operating income declined 33.9% year on year to ￥15,199 million. Operating income as a percentage of total store sales, a key management target for Circle K Sunkus, was 1.7%.
During the fiscal year under review, Circle K Sunkus posted non-operating expenses of ￥1,691 million. As a result, recurring profit decreased 35.3% year on year to ￥14,607 million. The Company posted extraordinary losses of ¥3,974 million, mainly reflecting a loss on disposal of fixed assets and impairment losses. Consequently, net income decreased 41.1% year on year to ￥5,554 million.
Detailed data for the fiscal year ended February 29, 2008 and prior fiscal years can be downloaded in Excel format from the Investor's Guide.
IR Library / Investor's Guide
