(Note) In view of the business environment and other considerations, the earnings projections for the year ending February 29, 2012 announced on Septermber 27, 2011, were revised. For details, please refer to the “Notice Concerning Revisions to Earnings Projections", which is a Japanese edition, dated January 19, 2012.
(stores, millions of yen)
| 2009/2 | 2010/2 | 2011/2 | 2012/2 (Plan) |
||
|---|---|---|---|---|---|
| The Number of Stores | Stores Opened | 312 | 316 | 325 | 353 |
| Stores Closed | 287 | 277 | 282 | 282 | |
| Stores at Year-end | 5,263 | 5,302 | 5,445 | 5,586 | |
| Total Store Sales and Total Operating Revenues | Total Store Sales | 940,232 | 902,318 | 923,185 | 965,360 |
| Total Operating Revenues | 213,398 | 194,142 | 192.304 | 188,320 | |
| Key Financial Indicators | Operating Income | 23,009 | 15,199 | 18,571 | 18,700 |
| Ratio of Operating Income to Total Store Sales | 2.4% | 1.7% | 2.0% | 1.9% | |
| Recurring Profit | 22,566 | 14,607 | 17,477 | 18,000 | |
| Net Income | 9,435 | 5,554 | 7,165 | 5,500 | |
| Net Income Per Share (yen) | 112.7 | 66.3 | 85.6 | 65.7 | |
| Total Assets | 222,305 | 224,843 | 240,027 | - | |
| Shareholders' Equity | 130,656 | 132,831 | 136,672 | - | |
| Shareholders' Equity Ratio | 58.8% | 59.1% | 56.9% | - | |
| Return on Equity (ROE) | 7.4% | 4.2% | 5.3% | 4.0% | |
| Return on Assets (ROA) | 10.8% | 6.8% | 8.2% | - | |
In the fiscal year ended February 28, 2011 (“the fiscal year under review”), Circle K Sunkus opened 325 stores, 9 more than in the previous fiscal year, thanks to the Venture Employee Program and Program for Preferential Treatment of Multiple-store Franchisees for securing franchisee candidates, and other contributing factors. Average daily sales at newly opened stores also improved ¥17,000 over the previous fiscal year to ¥431,000 as a result of an emphasis on quality in opening stores. After the closure of 282 stores, Circle K Sunkus had 5,445 stores at year-end (February 28, 2011), representing a net increase of 43 stores from a year earlier.
Existing store sales decreased 1.4% year on year on a non-consolidated basis, but were 1.8% higher than target. Sales of mainstay ready-made meals such as rice dishes and processed noodles continued to recover after they had been lifted by an unusually hot summer that followed the rainy season. From the second half of the fiscal year under review, active sales promotions, including one to commemorate the 30th anniversary of Circle K and Sunkus stores in Japan, in combination with a surge in tobacco sales ahead of a tax hike in October, helped push existing store sales higher. Along with the contribution of consolidated subsidiaries, this helped push total store sales ¥20,867 million higher year on year to ¥923,185 million. By contrast, total consolidated operating revenues at Circle K Sunkus declined ¥1,838 million year on year to ¥192,304 million. This decline reflected mainly a decrease in sales at Company-owned stores due to a strategic reduction in such stores.
Operating gross profit increased 2.6% year on year, thanks to higher franchise commissions from franchised stores, improved product markups and an increase in the number of consolidated subsidiaries, among other factors. Selling, general and administrative (SG&A) expenses were kept at about the same level as the year before, as a result of a Company-wide effort to thoroughly reduce inefficiencies and control store leasing expenses, as well as efforts to reduce expenses related to Company-owned stores. The upshot was a 22.2% year-on-year increase in operating income.
In step with higher operating income, the Circle K Sunkus Group’s recurring profit and net income increased 19.6% and 29.0% year on year, respectively, to ¥17,477 million and ¥7,165 million.
Detailed data for the fiscal year ended February 28, 2010 and prior fiscal years can be downloaded in Excel format from the Investor's Guide.
IR Library / Investor's Guide
