Quarter 2, FY2020
(Jan. to Jun. 2020)
MonotaRO Co., Ltd.
www.monotaro.com
1. Company Profile
• | Maintenance, Repair, and Operation | ||
MonotaRO means | • | "The sufficient number of products" in Japanese | |
• | Like "Momotaro," fight against unfair-old | ||
distribution system | Image of "Momotaro" | ||
in Japanese folk tale | |||
- Providing MRO products through Internet and catalogs,
MonotaRO Business targeting small to mid-sized domestic manufacturers which are
not treated well by conventional retailers.
MRO products | • | Cutting tools/Safety products/Bearings/Fasteners/Industrial |
equipment (number of product SKU 18 million as of Jun. 2020) | ||
Number of Customers | • | More than 4.8 million |
Capital Stock | ||
• | 1.99 billion JPY or 18.4 million USD (USD1=JPY107.74) | |
Number of Employees | • | 2,415 including 645 regular employees |
(as of Jun. 30, 2020 consolidated) | ||
Head Office | • | Amagasaki-city, Hyogo Prefecture |
Major Distribution | • | Amagasaki-city, Hyogo Prefecture |
• | Kasama-city, Ibaraki Prefecture | |
Centers | ||
• | Sapporo-city, Hokkaido Prefecture | |
2
2. Product Category
- Office Supplies, OA / PC, Battery
- Cutting Tools, Abrasives
- Piping, Pumps, Pneumatic / Hydraulic Equipment, Hose
- Automobile / Truck Supplies
- Construction Hardware / Material, Interior Painting
- Laboratory / Clean Room Supplies
- Safety Protection, Working Clothes, Safety Shoes
- Hand Tools, Power Tools, Pneumatics Tools
- Screws, Bolts, Nails, Materials
- Logistics, Storage / Packing Supplies / Tapes
- Motorcycle / Bicycle Supplies
- Control Equipment / Solder / Anti-static Goods
- Spray, Oil, Grease / Paint / Adhesion, Repair / Welding
- Air Conditioning, Electric Facilities, Piping, Plumbing
- Kitchen Equipment, Store Supplies
- Agricultural Materials, Gardening Supplies
- Bearings, Mechanical Parts, Casters
- Medical and Nursing Products
- Measuring and Surveying Products
- Office Furniture, Lighting, Cleaning Supplies
- Safety Supplies, Safety Signs
3
3. Strength
After (MonotaRO) | Before (Conventional Suppliers) |
One-Price Policy
| Same price to all customers on web site. | Different and unclear price to |
each customer | ||
| Customers trust in open, fair, and proper prices and are | |
free from bothers in asking quotes every time. |
Efficient Sales through Internet | Labor oriented, small and | |
Sales through internet, realizing economies of scale. | ||
localized markets | ||
Efficient promotions leveraging IT. | ||
Database Marketing | Sales based on experience of | |
Replace sales representatives by utilizing huge data and | ||
sales representatives | ||
with advanced database marketing. | ||
Product Availability
- Selling more than 18 million items; 590 thousand items are available for same day shipment.
- 461 thousand items out of "same day shipment products" are in inventory.
Private Brand and Direct Import Products
- Importing competitive products directly from overseas.
- Providing optimal selection of products including private brand, so that customers can choose the best one out of huge variety to meet their needs.
- Limited product availabilities
- Sell mainly expensive national brand products
4
4. Marketing
- Customer Acquisition
- Search engine marketing (SEO and paid search)
- Sending direct e-mail, flyers, and faxes to prospects
- Broadcasting CM
- Website
- Recommendations and personalized contents
- Direct e-mail, Flyers, and Faxes
- Semi-personalizedcontents
- Direct Mail Flyers
- Small batches of on-demand printed flyers with DTP
- Catalog
- 21 separate volumes for better targeting
- Data Mining and Campaign Management
- Promotions optimized by industry categories for more effectiveness and efficiency
5
5. Procurement
- Enhancement of Product Sources
- Developing new suppliers and new products through various channels
- Direct Import and Private Brand Product Development
- Higher margin with national brand quality maintained
- Unique-competitiveadvantage
6
6-1. Growth - Development Cycle
- More keywords for internet search
- Possibility of one-stop shopping increases (offering 18 million items)
Product
Lineup
Expand
- Expand lineup to peripheral products and categories
Customers | Scale ↑ = Convenience ↑ | Sales & |
Increase | Profit Grow |
- Acquire new customers
- 725 thousand added
- 4.8 million in total (2020/Q2 result)
- Sales frequency of long-tail items increases
Inventory Increase
- More inventories shorten lead-time, and customer convenience improves
- Development of new private brand products improves profit margin
7
6-2. Growth - Industrial Beachhead Expansion
2002
2008
2009
2010
2011
2013
2014
2015
2016
2017
- Started with small-to-mid sized manufacturing companies, iron works, metal works, and machine assembly companies
- Entered automotive aftermarket
- Entered independent contractor market
- Introduced laboratory products
- Started US business with providing consulting service to Zoro Tools
- Business with large corporations started to grow
- Established Tagajyo Distribution Center in Miyagi Prefecture
- Started South Korean business by establishing subsidiary NAVIMRO
- Established Amagasaki Distribution Center in Hyogo Prefecture
- Expanded product lineup: agricultural equipment and kitchen equipment
- Introduced "MonotaRO One Source" procurement system for large corporations
- Introduced medical & nursing care equipment category
- Started Indonesian business by acquiring majority (51%) of PT MONOTARO INDONESIA and consolidated to MonotaRO's in Q4
- Established Kasama Distribution Center in Ibaraki Prefecture
- Introduced simplified and easy-installation system "MonotaRO One Source Lite" for large corporations
- Closed Tagajyo Distribution Center
- Established Hokkaido Distribution Center
• Established real shop in Saga Prefecture for demonstration experiment | |
2018 | • Launched business in China by establishing subsidiary ZORO SHANGHAI |
• Number of Accounts exceeded 3.3 million | |
• Product lineup SKU exceeded 17 million | |
2019 | • Product lineup SKU exceeded 18 million |
• Completed 2nd phase expansion of facilities at Kasama Distribution Center | |
8
7-1.(Non-consolidated) 2020Q2 Financial Result P/L Outline
Sales: 72,651 million JPY (YonY +20.0%, A/F +1.2%)
• Number of accounts acquired increased (725 thou.) due to success of new customer acquisition measures (listing advertisement, search engine optimization/SEO, etc.) and to increase in general individual customers searching for COVID-19 related products. Amount per order of three main industries (manufacturing, construction, automotive maintenance) slowed down; however, sales of COVID-19 related products purchased mainly by general individual customers increased. This resulted in increase in monotaro.com sales from last year.
• COVID-19 negatively affected business activities and caused sales of large corporate customers to go below plan; however, number and usage of large corporation customers increased, and hence sales exceeded last year.
Jan. - Jun. 2019 Result | Jan. - Jun. 2020 Plan | Jan. - Jun. 2020 Result | |||||||||
No.Corp. | Million JPY | YonY | /Total Sales | Million JPY | YonY | /Total Sales | No.Corp. | Million JPY | YonY | vs Plan | /Total Sales |
708 | 9,200 | +53% | 15.3% | 12,800 | +38% | 17.9% | 958 | 12,100 | +31% | △5% | 16.8% |
Gross Profit: 20,661 million JPY (Sales Ratio 28.4%, YonY +18.8%, A/F +0.1%)
• Sales ratio (GP%) decreased from last year by 0.3 pt. Though sales ratio of large corporation business increased, product GP% increased due to product mix and strong JPY (+0.4 pt.). However, higher delivery cost ratio (△0.7 pt.) caused by delivery charge hike in July last year, etc., resulted in lower GP% than last year.
SG&A Expense: 11,089 million JPY (Sales Ratio 15.3%, YonY +17.0%, A/F △2.3%)
• Sales ratio (SG&A%) decreased from last year by 0.4 pt. Despite increase in Outsourcing Expense ratio (+0.4 pt.) due to projects of Order Management System (OMS) and of Product Information Management System (PIM) and to increase in temp-staff related cost ratio for handling increased number of items per order, decrease in Advertising Expense ratio (△0.6 pt.) due mainly to suspension of broadcasting of TV ad., etc. resulted in lower SG&A% from last year.
Operating Income: 9,572 million JPY (Sales Ratio 13.2%, YonY +21.0%, A/F +3.1%)
Net Income: 6,662 million JPY (Sales Ratio 9.2%, YonY +21.4%, A/F +3.6%)
• Sales ratio (NI%) increased from last year by 0.1 pt. due mainly to increase in sales ratio of Operating Income (+0.1 pt.).
9
7-2.(Non-consolidated) Half Yr. Sales Growth % (by Sales Channel)
2020Q2/FH sales 1.2% higher than plan, | ||
30.0% | Sales Total | and growth rate increased from plan +18.6% to |
actual +20.0%. | ||
• Due to effect of COVID-19, Q2/FH sales of large | ||
25.0% | corporation customers went below plan. | |
• Although orders of existing customers of | ||
monotaro.com for COVID-19 related products | ||
increased, sales per order from three industries | ||
20.0% | (manufacturing, construction, automotive | |
maintenance) decreased, and existing customer | ||
sales went slightly below plan. Among three | ||
15.0% | monotaro.com: New Customer | industries, manufacturing customers' May sales |
was in low trend, but amount per order and order | ||
frequency in next month June are in recovering | ||
trend. In Q2, active rate of customer improved | ||
10.0% | due to increase in number of customers | |
purchasing products through Internet. |
monotaro.com: Existing Customer | • Registration of new general individual customers |
5.0% | seeking COVID-19 related products increased. | ||||||||||||||||||
Sales of new customers through monotaro.com | |||||||||||||||||||
Large Corporation Business | largely exceeded plan, and overall sales | ||||||||||||||||||
exceeded plan as result. | |||||||||||||||||||
0.0% | |||||||||||||||||||
2018FH | |||||||||||||||||||
2011FH | 2011LH | 2012FH | 2012LH | 2013FH | 2013LH | 2014FH | 2014LH | 2015FH | 2015LH | 2016FH | 2016LH | 2017FH | 2017LH | 2018LH | 2019FH | 2019LH | 2020FH | * Note 1: Half-year (first half and second half) year-on-year sales growth rate. | |
* Note 2: In 2020Q2/ FH, dotted line is plan, solid line is actual. | |||||||||||||||||||
10 |
7-3.(Non-consolidated) 2020Q2 Effect of COVID-19 and Other
2020Q2/FH | Effect of COVID-19 | Other | ||||
Plan | Actual | |||||
(Sales Ratio) | (Sales Ratio) | |||||
Sales | 71,819 | 72,651 | Refer to Page 10. | |||
Order change after emergency declaration | Increase in royalty received, etc. | |||||
• △0.3pt.:Delivery cost ratio increased due to decrease in | ||||||
sales per order. | ||||||
• △0.1pt.:Change in ratio of product category sales | ||||||
Gross | 20,632 | 20,661 | (Increase in Office supply & furniture, decrease in | |||
Profit | (28.7%) | (28.4%) | Material handling & tool). | |||
• △0.1pt.:Increase in Credit card payment charge | ||||||
Large corp. sales below plan | ||||||
• +0.1pt.:GP% increased due to decrease in ratio of large | ||||||
corporate sales. | ||||||
Delay of OMS and PIM launch | Recruitment behind plan | |||||
• △0.1pt.:Decrease in software depreciation (Depreciation | • | △0.1pt.:Decrease in salary | ||||
Expense). | (Labor Expense). | |||||
• △0.1pt.:Decrease in system usage cost. | Delay in DC maintenance contract | |||||
(Other Expense) | • | △0.1pt.:Delay of DC maintenance | ||||
Avoidance of "3 Cs (Closed spaces, Crowded places, | (Other Expense). | |||||
and Close-contact settings)" | Other | |||||
• △0.1pt.:Decreases in Travel & Training Expenses | • | △0.3pt. | ||||
SG&A | 11,349 | 11,089 | (Other Expense). | |||
Expense | (15.8%) | (15.3%) | • +0.1pt.:Teleworking expense incurred | |||
(Mailing Exp., Equipment and System Usage Exp.). | ||||||
Employee support incurred. | ||||||
• +0.1pt.:Special support and meal allowance | ||||||
(Labor Exp.) FH forecast 93 mil.⇒ Actual 77 mil. | ||||||
Increase in general individual customers usage | ||||||
(COVID-19 related products). | ||||||
• +0.1pt.:Increase in DC temp-staff cost due to increase | ||||||
in number of item per order (Outsourcing Expense) | ||||||
Op. | 9,282 | 9,572 | Gross Profit %:△0.4pt. | Gross Profit %:+0.1pt. | ||
| SG&A Expense %:0.0pt. | | SG&A Expense %:△0.5pt. | |||
Income | (12.9%) | (13.2%) | ||||
(Contribution to profit:+0.5pt.) | ||||||
Net | 6,430 | 6,662 | | Profit ratio improved due mainly to improvement of Operating Income ratio (+0.3pt.). | ||
Income | (9.0%) | (9.2%) | ||||
* Note: Due to rounding of sales ratio, difference between plan and actual GP% and SG&A % does not match plan/actual difference in Operating Income.
11
7-4.(Non-consolidated) Operating Income Change Factors
Op. Income
(Jan.-Jun.2019)
Sales Increase
Decrease of GP%
Improvement of SG&A
Expense Sales Ratio
- Increase of Outsourcing Exp. Sales Ratio
- Improvement of Ad. & Prom. Exp. Sales Ratio
- Improvement of Mailing Exp. Sales Ratio
- Improvement of Labor Exp Sales Ratio
• Other
Op. Income
(Jan.-Jun.2020)
7,911 mil.JPY
Sales of monotaro.com increased due mainly to increase in | |||
orders of COVID-19 related products from general individual | |||
+1,578mil.JPY | customers. | ||
| Business activities slowed down in Q2, but due to increases in | ||
number of customers and in usage, sales of large corporation | |||
business increased from last year. | |||
Despite sales ratio of large corporation business increased, | |||
△200mil.JPY | Product GP% increased due to product mix and strong JPY. | ||
However, higher delivery cost ratio caused by delivery charge | |||
hike in July last year, etc., resulted in lower GP% than last year. | |||
+283mil.JPY | SG&A ratio improved due to following reasons | ||
• Projects of Order Management System and of Product | |||
△305mil.JPY | Information Management System and increase in temp-staff | ||
related cost ratio for handling increased number of items per | |||
order resulted in increase in Outsourcing Expense ratio. | |||
+449mil.JPY | • Suspension of TVCM and decrease in catalog expense ratio | ||
resulted in decrease in Ad. & Promotion Expense ratio. | |||
+59mil.JPY | • Decrease in catalog shipping expense ratio resulted in decrease | ||
in Mailing Expense ratio. | |||
+32mil.JPY | • Due to sales increase. | ||
• Decrease in travel expenses for domestic and international | |||
+47mil.JPY | business trips due to effects of COVID-19, etc. and to increase | ||
in sales. | |||
9,572 mil.JPY(YonY:+1,661 mil.JPY, +21.0%)
- Amounts are effects on Operating Income by changes of rates, not actual amounts.
12
7-5.(Non-consolidated) 2020Q2 Financial Result P/L Outline
Jan. - Jun. 2019 | Jan. - Jun. 2020 | Jan. - Jun. 2020 | ||||||
Result | Plan | Result | ||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | YonY | vs | |
(million JPY) | to Sales | (million JPY) | to Sales | (million JPY) | to Sales | Plan | ||
Sales | 60,564 | 71,819 | 72,651 | +20.0% | +1.2% | |||
Gross Profit | 17,391 | 28.7% | 20,632 | 28.7% | 20,661 | 28.4% | +18.8% | +0.1% |
SG&A Exp. | 9,480 | 15.7% | 11,349 | 15.8% | 11,089 | 15.3% | +17.0% | △2.3% |
Operating | 7,911 | 13.1% | 9,282 | 12.9% | 9,572 | 13.2% | +21.0% | +3.1% |
Income | ||||||||
Current | 7,907 | 13.1% | 9,265 | 12.9% | 9,586 | 13.2% | +21.2% | +3.5% |
Income | ||||||||
Net Income | 5,490 | 9.1% | 6,430 | 9.0% | 6,662 | 9.2% | +21.4% | +3.6% |
(Tax Rate) | (30.6%) | (30.6%) | (30.5%) | |||||
13
7-6.(Non-consolidated) 2020Q2 Financial Result B/S Outline
Jun. | Dec. | Jun. | ||||
2019 | 2019 | 2020 | ||||
Million JPY | Million JPY | Million JPY | Ratio | |||
Assets | ||||||
Cash | 8,890 | 9,958 | 10,027 | 15.0% | ||
Accounts | 13,143 | 14,376 | 17,314 | 26.0% | ||
Receivable | ||||||
Inventory | 10,573 | 11,094 | 11,734 | 17.6% | ||
Other | 4,201 | 4,485 | 4,405 | 6.6% | ||
Total Current Asset | 36,808 | 39,914 | 43,481 | 65.2% | ||
Tangible Fixed | 11,917 | 12,023 | 13,873 | 20.8% | ||
Asset | ||||||
Intangible | 1,863 | 2,919 | 3,536 | 5.3% | ||
Fixed Assets | ||||||
Other | 4,165 | 5,748 | 5,764 | 8.6% | ||
Total Fixed Asset | 17,946 | 20,691 | 23,174 | 34.8% | ||
Total Assets | 54,754 | 60,605 | 66,656 | |||
Jun. | Dec. | Jun. | ||||
2019 | 2019 | 2020 | ||||
Million JPY | Million JPY | Million JPY | Ratio | |||
Liabilities | ||||||
Accounts | 8,532 | 9,446 | 11,142 | 16.7% | ||
Payable | ||||||
Short-term | 2,000 | 2,498 | 1,498 | 2.2% | ||
Debt & etc. | ||||||
Others | 6,517 | 7,479 | 8,595 | 12.9% | ||
Total | 17,050 | 19,424 | 21,236 | 31.9% | ||
Current Liabilities | ||||||
Total Long term | 2,672 | 2,180 | 1,671 | 2.5% | ||
Liabilities | ||||||
Total Liabilities | 19,722 | 21,604 | 22,907 | 34.4% | ||
Net Assets | ||||||
Shareholder's | 34,986 | 38,955 | 43,695 | 65.6% | ||
Equity | ||||||
Others | 46 | 44 | 53 | 0.1% |
Total Net Assets | 35,032 | 39,000 | 43,749 | 65.6% |
Total Liabilities & | 54,754 | 60,605 | 66,656 | |
Net Assets | ||||
Short-term Debt & etc. includes short-term debt & current portion of long- term debt.
14
7-7.(Non-consolidated) Progress - Sales & Customer
(Million JPY) | (Thousand Accounts) | ||||||||||||||||
150,000 | 5,027 | ||||||||||||||||
Sales 2020 Plan (left axis) | 4,835 | ||||||||||||||||
140,000 | |||||||||||||||||
Sales 2003-2020Q2 Actual (left axis) | |||||||||||||||||
130,000 | |||||||||||||||||
Number of Customers Registered 2020 Plan (right axis) | 4,109 | ||||||||||||||||
120,000 | Number of Customers Registered 2003-2020Q2 Actual (right axis) | ||||||||||||||||
110,000 | 3,363 | ||||||||||||||||
100,000 | |||||||||||||||||
90,000 | 2,737 | ||||||||||||||||
80,000 | 150,049 | ||||||||||||
70,000 | 2,207 | ||||||||||||
60,000 | 1,776 | 126,543 | |||||||||||
50,000 | 1,405 | 105,331 | |||||||||||
40,000 | 1,122 | 84,656 | |||||||||||
892 | 67,105 | 72,651 | |||||||||||
30,000 | |||||||||||||
703 | 55,607 | ||||||||||||
572 | |||||||||||||
20,000 | 454 | 44,057 | |||||||||||
34,484 | |||||||||||||
342 | |||||||||||||
239 | 28,639 | ||||||||||||
10,000 | 52 | 82 | 121 | 176 | 17,685 | 22,220 | |||||||
10,897 14,068 14,209 | |||||||||||||
0 | 2,426 | 4,608 | 6,785 | 9,175 | |||||||||
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Dec. 2019 | Jun. 2020 | Dec. 2020 (Plan) | |||||
Number of Customers | 4,109,701 | 4,835,382 | +725,681 | 5,027,701 | +918,000 | ||
(Registered Accounts) | (vs. Dec. 2019) | (vs. Dec. 2019) | |||||
15
7-8.(Non-consolidated) Progress - Gross Profit
35.0% | ||||||||||
31.4% | 31.0% | |||||||||
30.0% | ||||||||||
29.6% | 29.6% | |||||||||
30.0% | ||||||||||
28.2% | 27.5% | 27.7% | 28.0% | 28.5% | 28.5% | 28.4% | ||||
27.1% | ||||||||||
25.0%
- Credit Card Payment Charge is reported as Cost of Sales from 2017 (this graph is adjusted retroactively to reflect effect of change).
20.0%
15.0%
10.0%
5.0%
0.0%
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
(Q2) |
16
7-9.(Non-consolidated) Progress - SG&A Expense
30.0% | Expense Breakdown | |||||||
Labor & Outsourcing | ||||||||
Jan.-Jun.Jan.-Jun. | ||||||||
Facility Rent | ||||||||
2019 | 2020 | |||||||
Ad. Prom. & Mailing | Labor | 4.5% | 4.4% | |||||
25.0% | Depreciation | Outsourcing | 2.5% | 2.9% | ||||
Facility Rent | 1.3% | 1.3% | ||||||
Others | ||||||||
Ad. & Promotion | 3.7% | 3.1% | ||||||
Total | ||||||||
21.1% | Mailing | 0.8% | 0.7% | |||||
Depreciation | 1.0% | 1.0% | ||||||
19.9% | 19.7% | |||||||
Others | 1.9% | 1.9% | ||||||
20.0% | 18.6% | |||||||
18.0% | Total | 15.7% | 15.3% | |||||
17.8% | ||||||||
17.8% | ||||||||
16.8% | 16.8% | 16.6% | 16.0% | |||||
15.6% | 15.3% | |||||||
15.0% |
- Credit Card Payment Charge is reported as Cost of Sales from 2017 (this graph is adjusted retroactively to reflect effect of change).
10.0%
5.0%
0.0%
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
(Q2) | ||||||||||||
17
8-1. (Consolidated) 2020Q2 Financial Result P/L Outline 1/2
Jan. - Jun. 2019 Jan. - Jun. 2020 | Jan. - Jun. 2020 | ||||||||
Result | Plan | Result | |||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | YonY | vs | ||
(million JPY) | to Sales | (million JPY) | to Sales | (million JPY) | to Sales | Plan | |||
Sales | 62,970 | 74,744 | 75,281 | +19.6% | +0.7% | ||||
Gross Profit | 17,867 | 28.4% | 21,310 | 28.5% | 21,241 | 28.2% | +18.9% | △0.3% | |
SG&A Exp. | 10,270 | 16.3% | 12,384 | 16.6% | 11,922 | 15.8% | +16.1% | △3.7% | |
Operating | 7,597 | 12.1% | 8,925 | 11.9% | 9,318 | 12.4% | +22.7% | +4.4% | |
Income | |||||||||
Current Income | 7,607 | 12.1% | 8,934 | 12.0% | 9,342 | 12.4% | +22.8% | +4.6% | |
Net Income | 5,191 | 8.2% | 6,099 | 8.2% | 6,419 | 8.5% | +23.6% | +5.2% | |
(Tax Rate) | (31.8%) | (31.7%) | (31.3%) | ||||||
Net Income | 5,302 | 8.4% | 6,239 | 8.3% | 6,540 | 8.7% | +23.3% | +4.8% | |
attributable to owners | |||||||||
of the parent |
18
8-2. (Consolidated) 2020Q2 Financial Result P/L Outline 2/2
NAVIMRO (South Korea)
• Sales was slightly below plan, but profit was far beyond plan by improving profit ratio with increase in PB sales and pricing.
• Total item was expanded about to 2.6 mil. and inventory item was expanded about to 40 thou.
Jan.-Jun. 2019 Result | Jan.-Jun. 2020 Plan | Jan.-Jun. 2020 Result | |||||||||
Amount | YonY | YonY | Amount | YonY | YonY | Amount | YonY | vs Plan | YonY | vs Plan | |
(mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (Local Currency) | |||||
Sales | 2,250 | +19.7% | +25.9% | 2,530 | +12.4% | +16.1% | 2,410 | +7.1% | △4.7% | +14.7% | △1.2% |
Op.Income | △20 | ― | ― | 10 | ― | ― | 40 | ― | +370.5% | ― | +387.8% |
Net Income x Share(*1) | △20 | ― | ― | 10 | ― | ― | 40 | ― | +211.7% | ― | +223.1% |
MONOTARO INDONESIA (Indonesia)
• Sales was over 30% below plan due to COVID-19 lockdown, but Op. Loss was within level of plan by controlling marketing expense.
• Continuing to expand product lineup and to strengthen supply chain.
Jan.-Jun. 2019 Result | Jan.-Jun. 2020 Plan | Jan.-Jun. 2020 Result | |||||||||
Amount | YonY | YonY | Amount | YonY | YonY | Amount | YonY | vs Plan | YonY | vs Plan | |
(mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (Local Currency) | |||||
Sales | 150 | +31.7% | +33.4% | 310 | +99.1% | +99.1% | 190 | +23.9% | △37.8% | +28.9% | △35.3% |
Op.Income | △140 | ― | ― | △150 | ― | ― | △160 | ― | ― | ― | ― |
Net Income x Share(*1) | △60 | ― | ― | △70 | ― | ― | △70 | ― | ― | ― | ― |
ZORO SHANGHAI (China)
• Sales was over 40% below plan due to negative effects of COVID-19, Op. Loss was within plan.
• Effective customer acquisition method in China has not yet been established.
Jan.-Jun. 2019 Result | Jan.-Jun. 2020 Plan | Jan.-Jun. 2020 Result | |||||||||
Amount | YonY | YonY | Amount | YonY | YonY | Amount | YonY | vs Plan | YonY | vs Plan | |
(mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (mil.JPY) | (Local Currency) | (Local Currency) | |||||
Sales | 10 | (*2) ― | (*2) ― | 80 | +482.0% | +505.2% | 50 | +259.3% | △38.3% | +278.5% | △37.5% |
Op.Income | △150 | ― | ― | △210 | ― | ― | △140 | ― | ― | ― | ― |
Net Income x Share(*1) | △90 | ― | ― | △130 | ― | ― | △90 | ― | ― | ― | ― |
*1: Calculated by multiplying Net Income by Share Ratio at the end of each fiscal year for reference.
*2: Business launched in June 2018.
*3: Sales and profit/loss less than 10 million JPY are rounded down as shown in explanation material in Japanese language.
19
8-3. (Consolidated) 2020Q2 Financial Result B/S Outline
Jun. | Dec. | Jun. | ||
2019 | 2019 | 2020 | ||
Million JPY | Million JPY | Million JPY | Ratio | |
Assets | ||||
Cash | 9,834 | 11,155 | 10,804 | 16.5% |
Accounts | 13,247 | 14,472 | 17,443 | 26.7% |
Receivable | ||||
Inventory | 11,000 | 11,563 | 12,202 | 18.7% |
Other | 4,266 | 4,581 | 4,533 | 6.9% | |
Total Current | 38,349 | 41,771 | 44,984 | 68.8% | |
Asset | |||||
Tangible | 11,944 | 12,048 | 13,922 | 21.3% | |
Fixed Asset | |||||
Intangible | 2,029 | 3,084 | 3,693 | 5.6% | |
Fixed Assets | |||||
Other | 1,426 | 2,787 | 2,806 | 4.3% | |
Total Fixed | 15,401 | 17,920 | 20,422 | 31.2% | |
Asset | |||||
Total Assets | 53,750 | 59,691 | 65,407 | ||
Jun. | Dec. | Jun. | ||||
2019 | 2019 | 2020 | ||||
Million JPY | Million JPY | Million JPY | Ratio | |||
Liabilities | ||||||
Accounts | 8,827 | 9,829 | 11,479 | 17.6% | ||
Payable | ||||||
Short-term | 2,000 | 2,498 | 1,498 | 2.3% | ||
Debt & etc. | ||||||
Others | 6,627 | 7,644 | 8,756 | 13.4% | ||
Total | 17,455 | 19,973 | 21,733 | 33.2% | ||
Current Liabilities | ||||||
Total Long term | 2,712 | 2,205 | 1,718 | 2.6% | ||
Liabilities | ||||||
Total Liabilities | 20,168 | 22,179 | 23,451 | 35.9% | ||
Net Assets | ||||||
Shareholder's | 33,229 | 37,062 | 41,679 | 63.7% | ||
Equity | ||||||
Others | 353 | 450 | 275 | 0.4% | ||
Total Net Assets | 33,582 | 37,512 | 41,955 | 64.1% | ||
Total Liabilities & | 53,750 | 59,691 | 65,407 | |||
Net Assets | ||||||
Short-term Debt & etc. includes short-term debt & current portion of long-term debt.
20
8-4. (Consolidated) 2020Q2 Financial Result C/F Outline
Jan. - Jun. 2019 | Jan. - Jun. 2020 | ||
Result | Result | ||
Million JPY | Million JPY | ||
Cash Flow from Operating Activity | |||
Net Income before Tax | 7,608 | 9,343 | |
Increase or Decrease in Accounts Receivable (△ = increase) | △1,706 | △2,977 | |
Increase or Decrease in Inventory (△ = increase) | △1,038 | △662 | |
Increase or Decrease in Accounts Payable (△ = decrease) | 526 | 1,668 | |
Tax payment | △2,721 | △2,632 | |
Others | 612 | 1,586 | |
Total | 3,280 | 6,325 | |
Cash Flow from Investing Activity | |||
Acquisition of Tangible Assets | △466 | △2,368 | |
Acquisition of Intangible Assets | △754 | △665 | |
Others | 126 | 202 | |
Total | △1,094 | △2,831 | |
Cash Flow from Financing Activity | |||
Repayments of Long-term Loans | △1,000 | △1,000 | |
Repayments of Lease Obligations | △2,140 | △661 | |
Cash Dividends Paid | △1,613 | △1,864 | |
Others | 200 | △68 | |
Total | △4,553 | △3,594 | |
Currency Exchange Adjustment | △35 | △35 | |
Net Increase or Decrease in Cash and Cash Equivalent (△ = decrease) | △2,402 | △135 | |
Cash and Cash Equivalent at Beginning of Period | 12,040 | 10,746 | |
Cash and Cash Equivalent at End of Period | 9,637 | 10,610 |
21
9-1. 2020 Strategy & Plan: Domestic Business (1)
BtoB Online E-commerce (monotaro.com)
• | Expanding Customer Base and Improving Customer Lifetime Value | |||||||
- | Registration of general individuals seeking COVID-19 related products increased in Q2, | |||||||
- | and new customer acquisition is exceeding plan (918 thou.) this year. | |||||||
Usage trend of general individual customers is lower than that of corporate customers | ||||||||
in amount per order and in repeat rate, and there is no difference in behaviors observed | ||||||||
before and after spread of COVID-19 infection. General individual customer registration | ||||||||
is expanding at present, but MonotaRO continues to focus on BtoB business to improve | ||||||||
- | customer lifetime value. | |||||||
Optimizing marketing resource allocation based upon customer lifetime value inferred | ||||||||
by product search/purchase behavior trends, etc., and acquisition target is placed on | ||||||||
high lifetime value customers. | ||||||||
• | Expanding Existing Customers' Sales | |||||||
- | Seeking "reducing time to find product" by optimizing product search function for each | |||||||
customer attribute and "shortening time to wait for arrival of product" by introducing | ||||||||
system such as Order Management System and by developing logistic bases leads to | ||||||||
increase in existing customers' usage. | ||||||||
System Connection with Large Corporations | ||||||||
• | Contract Result | |||||||
Dec. 2019 End | Jun. 2020 End | |||||||
Result | Result | |||||||
No. Corp. | No. Corp. | vs Dec. 2019 End | Remarks | |||||
Total number of corporations | 817 | 958 | +141 | |||||
One Source | 14 | 14 | +0 | 2 considering | ||||
One Source Lite | 363 | 465 | +102 | 269 considering | ||||
• | Sales Base and Progress of Sales Target | |||||||
- | Large corporation business's 12.1 billion sales for 2020Q2/FH is below plan by △5%. | |||||||
- | Corporate sales activities that were conducted face-to-face are currently conducted by |
utilizing web conference service, which is gradually spreading.
22
9-2. 2020 Strategy & Plan: Domestic Business (2)
- Consulting/Royalty Business
- Grainger's Zoro business (US, UK, and Germany) is continuing to strengthen corporate customer acquisition by using SG&A expenses with investment prospect for sustainable growth, but Zoro's profits improved in Q2 by implementing appropriate promotions.
- Amount of royalty in 2020Q2/FH increased from last year (impact of royalty on Sales and Gross Profit is becoming limited due to MonotaRO's higher Sales growth).
- Strengthening Marketing and System Development Skills based on Data Science
- Recruiting of data-scientists and IT engineers at both Amagasaki/Hyogo and Tokyo offices is making progress almost as planned.
- Newly joined data-scientists and IT engineers are working on advanced digital marketing and system development (Web site and backbone system).
- New IT Platform for Advanced Supply Chain (installation project in progress)
- Introduction of Product Information Management System (PIM)
- System's initial function is answering to the diversification and enrichment of product info. by constructing and organizing master data base for products, suppliers, etc. for responding to expansion of product info. caused by increase in product lineup. In future, portal site for suppliers and workflows to improve efficiency of obtaining info. is developed, and this leads to reduction of costs and shortening of product introduction lead-time. In mid-term, product info. is prepared in multi-languages for international business.
- Due to spread of COVID-19 infection, development project, carried out with external team, was changed, and releasing initial version was postponed from mid Q2 to late Q3.
- Introduction of Order Management System (OMS)
- Selecting optimal shipment methods based upon various rules, thereby leveling shipment operations, reducing splits of shipments, optimizing shipment network further, and minimizing distribution related costs, and this leads to increase in sales with improved convenience realized through shortening delivery lead time.
- For same reason of PIM, releasing initial version was postponed from mid Q2 to late Q3.
23
9-3. 2020 Strategy & Plan: (Non-consol.) 2020LH Affecting Factors
2020LH Plan | Current Status | ||||
Sales | YonY | ||||
Ratio | |||||
BtoB Online E-Commerce (monotaro.com) | |||||
• Amounts per order of 3 industry customers (manufacturing, construction, automotive maintenance) | |||||
declined, but, after hitting bottom in Golden Week (holiday in late Apr. through early May in Japan), is | |||||
on recovery trend. However, order amounts have not recoverd to last year end levels. | |||||
Sales | 78,230 | ー | 18.6% | • Orders of COVID-19 related products from general individual customers continues. | |
System Connection with Large Corporation | |||||
However, ratio of general individuals to new registrations is on shrinking now (Apr. to Jun.). | |||||
• Plan was not attained in Q2, but business is on recovery trend after emergency declaration ended with | |||||
diminishing gap between plan and actual sales. | |||||
Royalty Business | |||||
• Royalty amount in FH was higher than plan (impact on total Sales was limited). | |||||
Product GP Ratio | |||||
Gross | • As activities declined due to COVID-19, replacement orders of high GP% category decreased. | ||||
22,535 | 28.8% | 20.4% | Delivery Cost Ratio | ||
Profit | • Amounts per order in FH was lower than plan, but, as mentioned above, the ratio of general individual | ||||
registration is currently shrinking. | |||||
Sales Ratio of Overseas Royalty | |||||
• Royalty sales ratio in FH was above plan (impact on Gross Profit was also limited). | |||||
Effect of COVID-19 | |||||
• Costs of delayed OMS/PIM (System Usage/Depreciation) are increased and incurred late Q3 onward. | |||||
SG&A | • Equipment for teleworking was secured in FH, and additional expenses of avoiding "3 Cs" are limited. | ||||
12,567 | 16.1% | 23.2% | • Ratio of costs related to staff at distribution operation is continuously increasing due to decrease in | ||
Exp. | order unit price caused by increase in general individual customers. As mentioned above, share of new | ||||
registrations of general individuals is also currently decreasing. | |||||
Other | |||||
• DC repair expenses were delayed from FH to LH (up to 53 mil. JPY). | |||||
Op. | 9,967 | 12.7% | 17.0% | There are both positive and negative factors in sales, GP, and SG&A ratios, and it's difficult to project | |
Income | impact of each factor. |
There are factors, including those related to COVID-19, that cause actual sale and profit in LH to go up or down
from plan; however, fiscal year plan is not revised at this point based upon FH results(*)
*Note: Consolidated profit and loss results for 2020FH are within scope of forecast revise and disclosure rule.
Revision disclosure is prepared when the latest consolidated earnings forecast exceeds any of fluctuation ranges below; Consol. Sales: ±5%, Consol. Op. Income: ±10%, Consol. Ord. Income: ±10%, NI attributable to Parent Company Shareholders: ±10%
24
9-4. 2020 Strategy & Plan: (Non-consol.) P/L Plan Outline
2019 Result | 2020 Plan | ||||
Amount (mil.JPY) | Ratio | Amount (mil.JPY) | Ratio | YonY | |
to Sales | to Sales | ||||
Sales | 126,543 | 150,049 | +18.6% | ||
Gross Profit | 36,111 | 28.5% | 43,168 | 28.8% | +19.5% |
SG&A Exp. | 19,681 | 15.6% | 23,917 | 15.9% | +21.5% |
Operating | 16,430 | 13.0% | 19,250 | 12.8% | +17.2% |
Income | |||||
Current | 16,444 | 13.0% | 19,220 | 12.8% | +16.9% |
Income | |||||
Net Income | 11,309 | 8.9% | 13,339 | 8.9% | +18.0% |
(Tax Rate) | (29.9%) | (30.6%) | |||
25
9-5. 2020 Strategy & Plan: (Consolidated) P/L Plan Outline
2019 Result | 2020 Plan | ||||
Amount (mil.JPY) | Ratio | Amount (mil.JPY) | Ratio | YonY | |
to Sales | to Sales | ||||
Sales | 131,463 | 156,468 | +19.0% | ||
Gross Profit | 37,095 | 28.2% | 44,653 | 28.5% | +20.4% |
SG&A Exp. | 21,256 | 16.2% | 26,084 | 16.7% | +22.7% |
Operating | 15,839 | 12.0% | 18,569 | 11.9% | +17.2% |
Income | |||||
Current | 15,887 | 12.1% | 18,584 | 11.9% | +17.0% |
Income | |||||
Net Income | 10,751 | 8.2% | 12,703 | 8.1% | +18.2% |
(Tax Rate) | (30.9%) | (31.6%) | |||
Net Income | 10,984 | 8.4% | 12,997 | 8.3% | +18.3% |
attributable to owners | |||||
of the parent | |||||
26
9-6. 2020 Strategy & Plan: (Overseas Subsidiary) P/L Plan Outline
NAVIMRO (South Korea)
• | Increasing sales by expanding customer base, number of items sold, and inventory. | ||||||
• | Expanding profit, which was first attained in 2019. | ||||||
2019 Result | 2020 Plan | ||||||
Amount | YonY | YonY | Amount | YonY | YonY | ||
(mil.JPY) | (local Currency) | (mil.JPY) | (local Currency) | ||||
Sales | 4,510 | +13.5% | +21.8% | 5,400 | +19.7% | +20.5% | |
Op.Income | 10 | ― | ― | 80 | +412.6% | +415.9% | |
Net Income x Share(*1) | 20 | ― | ― | 90 | +285.3% | +287.8% | |
MONOTARO INDONESIA (Indonesia)
• Continuing to work on expanding business by increasing corporate customers, by increasing number of items sold and inventory, and by improving logistics.
2019 Result | 2020 Plan | |||||
Amount | YonY | YonY | Amount | YonY | YonY | |
(mil.JPY) | (local Currency) | (mil.JPY) | (local Currency) | |||
Sales | 380 | +46.8% | +48.7% | 750 | +96.6% | +94.1% |
Op.Income | △290 | ― | ― | △310 | ― | ― |
Net Income x Share(*1) | △130 | ― | ― | △140 | ― | ― |
ZORO SHANGHAI (China)
• Increasing sales by expanding and improving items sold and by establishing effective measures to expand customer base.
2019 Result | 2020 Plan | |||||
Amount | YonY | YonY | Amount | YonY | YonY | |
(mil.JPY) | (local Currency) | (mil.JPY) | (local Currency) | |||
Sales | 60 | (*2) ― | (*2) ― | 250 | +317.5% | +322.8% |
Op.Income | △320 | ― | ― | △450 | ― | ― |
Net Income x Share(*1) | △210 | ― | ― | △300 | ― | ― |
*1: Calculated by multiplying Net Income by Share Ratio at the end of each fiscal year for reference.
*2: Business launched in June 2018.
*3: Sales and profit/loss less than 10 million JPY are rounded down as shown in explanation material in Japanese language.
27
9-7. 2020 Strategy & Plan: Logistics (1)
- Distribution-relatedCost Ratio 2020Q2/FH Result: 6.1%
- As COVID-19 infection spread, number of general individual customers seeking COVID-19 related products has increased. This resulted in increase in number of items processed and hence in increase in work at distribution centers. Sales ratios of Personnel and Outsourcing Expenses related to distribution therefore increased from last year by 0.1 pt. and from plan by 0.2 pt.
- Inventory
- As of Jun. 30, 2020: 461 thou. items.
- Plan at Dec. 31, 2020: 500 thou. items.
- Delivery Status
- Shipment ratio of Kasama DC with expanded facilities is increasing as planned.
Jan.-Jun. 2019 Result | Jan.-Jun. 2020 Plan | Jan.-Jun. 2020 Result | ||||||
Amount (mil.JPY) | Ratio to Sales | Amount (mil.JPY) | Ratio to Sales | Amount (mil.JPY) | Ratio to Sales | YonY | vs Plan | |
Sales | 60,564 | 71,819 | 72,651 | +20.0% | +1.2% | |||
(Non Consolidated) | ||||||||
Depreciation | 384 | 0.6% | 458 | 0.6% | 448 | 0.6% | +16.7% | △2.3% |
Labor & Outsourcing | 1,982 | 3.3% | 2,297 | 3.2% | 2,438 | 3.4% | +23.0% | +6.1% |
Facility Rent | 712 | 1.2% | 812 | 1.1% | 821 | 1.1% | +15.4% | +1.2% |
Others | 572 | 0.9% | 688 | 1.0% | 702 | 1.0% | +22.7% | +1.9% |
Total | 3,651 | 6.0% | 4,257 | 5.9% | 4,410 | 6.1% | +20.8% | +3.6% |
28
9-8. 2020 Strategy & Plan: Logistics (2)
- New Distribution Base Expansion Update
Name (tentative) | Ibaraki Chuo SC | Inagawa DC | |||||
Address | Ibaraki-machi, Higashi Ibaraki-gun, | Inagawa-cho,Kawabe-gun, | |||||
Ibaraki Prefecture | Hyogo Prefecture | ||||||
Floor Size | About 49,000㎡ | Total about 162,000㎡ | |||||
Inventory Capa. | 20K-30K SKU, high demand products | Total 500K SKU | |||||
Start Operation | Plan Apr. 2021 | Phase 1 Plan Apr. 2022 | Phase 2 Plan 2023Q3 | ||||
Shipping | About 30K lines/day | About 90K lines/day | About 90K lines/day added | ||||
Capacity | (180K lines in total/day) | ||||||
Land | About 1.3 bil. JPY | ―---- | |||||
Constr. | About 6.1 bil. JPY | Additional construction: about 1.3 bil. JPY | |||||
Ph.1, 4 Floors: about 18.9 bil. JPY | |||||||
Invest/ | Rent | ―---- | (2021-2031 including common service exp.) | ||||
Ph.2: 1 Floor added: about 4.5 bil. JPY | |||||||
Rent | ―---- | ||||||
(2022-2031including common service exp.) | |||||||
About 7.4 bil. JPY | ―---- | ||||||
Facility | About 1.8 bil. JPY | (under examining) | |||||
―---- | About 6.6 bil. JPY (under examining) | ||||||
Main function is backyard. | Starting to rent 4 floors & | hazardous goods warehouse in 2022. | |||||
Remark | Having also function of shipping | (* Renting 1 additional floor & hazardous goods warehouse resolved in Jun. 2020) | |||||
high-demand products | From 2023, 1 floor added and total 5 floors rented. | ||||||
Pogress | Building under construction | ||||||
Progress Status | Progress Status | ||||||
Completion Image | Completion Image | ||||||
29
Ref. 1. Customer Demographics
Industry
Construction
Other
31%
19%
Automotive | |
After market | Manufacturer |
12% | 38% |
Ratio by sales amount in 2019
(Sales through Shopping website-excluding sales through API connection)
30
Ref. 2. Internet PO Ratio
100% | |
90% | Other |
TEL | |
80% | FAX |
WEB | |
70% | |
60% | |
50% | |
40% | |
30% | |
20% | |
10% | |
0% | |
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 |
31
Ref. 3. Product Lineup & Inventory
(Thousand) | (Thousand) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20,000 | Number of Product Lineup (left axis) | 461 | 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
18,000 | Number of Inventory SKU (right axis) | 461 | 450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
411 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,000 | 400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14,000 | 302 | 350 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
298 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12,000 | 300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
256 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10,000 | 250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
200 | 18,000 | 18,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8,000 | 17,000 | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6,000 | 13,000 | 150 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
126 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4,000 | 9,000 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2,000 | 5,000 | 50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Q2) |
32
Ref. 4. Registered Customers & Sales Growth by Registered Year
(Growth Rate of Sales) | (Number of Registered Customers) | |||||||||||||||||||||||||||||||
2.4 | 840,000 | |||||||||||||||||||||||||||||||
Number of customers registered in the year. | ||||||||||||||||||||||||||||||||
Sales growth of customers registered in 2008. | ||||||||||||||||||||||||||||||||
Sales growth of customers registered in 2009. | ||||||||||||||||||||||||||||||||
2.2 | Sales growth of customers registered in 2010. | 720,000 | ||||||||||||||||||||||||||||||
Sales growth of customers registered in 2011. | ||||||||||||||||||||||||||||||||
Sales growth of customers registered in 2012. | ||||||||||||||||||||||||||||||||
2.0 | Sales growth of customers registered in 2013. | 600,000 | ||||||||||||||||||||||||||||||
Sales growth of customers registered in 2014. | ||||||||||||||||||||||||||||||||
Sales growth of customers registered in 2015. | ||||||||||||||||||||||||||||||||
1.8 | Sales growth of customers registered in 2016. | 480,000 | ||||||||||||||||||||||||||||||
Sales growth of customers registered in 2017. | ||||||||||||||||||||||||||||||||
Sales growth of customers registered in 2018. | ||||||||||||||||||||||||||||||||
1.6 | Sales growth of customers registered in 2019. | 360,000 | ||||||||||||||||||||||||||||||
1.4 | 240,000 | |||||||||||||||||||||||||||||||
1.2 | 120,000 | |||||||||||||||||||||||||||||||
1.0 0
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
- 1:Bar chart (right axis) shows number of 'monotaro.com' customers registered in each year based on status at end of 2019.
- 2:Line chart (left axis) shows sales growth ratio of customers registered each year by setting sales in registered year as '1'.
- 3:Above number of 'monotaro.com' registered customers and sales growth are updated retroactively at the end of 2019
(large corporate sales not included).
33
Dividend & Shareholder Benefit
- Dividend
- Dividend Policy: Distributing dividend consistent with stable and ongoing growth.
- 2019 Dividend (Actual): 15 JPY/share (7.5 JPY/share interim, 7.5 JPY/share fiscal year end).
- 2020 Dividend (Plan): 17 JPY/share.
(Dividend) | Dividend (JPY) | Dividend Payout Ratio (consolidated) | (Dividend Payout Ratio) | |||||||
¥20 | 17 | 50% | ||||||||
15 | ||||||||||
¥15 | 33.7% | 33.3% | 35.0% | 13 | 40% | |||||
32.5% | ||||||||||
31.8% | 11 | |||||||||
29.7% | ||||||||||
28.4% | ||||||||||
¥10 | 30% | |||||||||
32.3% | 33.9% | 33.9% | ||||||||
3.5 | 9 | |||||||||
¥5 | 3 | 20% | ||||||||
2 | 6 | |||||||||
1.4375 |
¥0 | 10% | ||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||
※ Amounts in graph above based upon share splits including one implemented in Oct. 2018. | (Plan) |
- Shareholders' Benefit
- Shareholders having held one or more unit (100 shares) of MonotaRO share for 6 months or longer on continuous basis as of Dec. 31 are eligible for benefit.
-
Eligible shareholders can choose products from
MonotaRO's private brand as benefit, and amount of benefit varies in accordance with holding period (as in right chart).
Holding Period | Amount Benefit |
6 months or more | 3,000 JPY (excl. tax) |
3 years or more | 5,000 JPY (excl. tax) |
5 years or more | 7,000 JPY (excl. tax) |
34
Other MRO Market Players
Upper: Sales | Fiscal Year | Change | |||||||
Lower: Operating Income | 2007 | 2017 | 2018 | 2019 | 2020 | 2007 to 2020 | |||
Yuasa (8074) - (M) | Wholesaler | 468,476 | 461,749 | 493,627 | 491,348 | 450,000 | △3.9% | ||
8,254 | 11,402 | 12,517 | 11,871 | 9,250 | +12.1% | ||||
Yamazen (8051) - (M) | Wholesaler | 376,852 | 497,963 | 526,364 | 472,191 | (*2) | ― | (*2) | ― |
11,518 | 15,383 | 17,997 | 12,091 | (*2) | ― | (*2) | ― | ||
Trusco (9830) - (D) | Wholesaler | 134,430 | 195,096 | 214,297 | 220,674 | 231,619 | +72.3% | ||
9,120 | 14,276 | 14,364 | 13,797 | 13,007 | +42.6% | ||||
Misumi (9962) - (M) | Retailer | 126,668 | 312,969 | 331,936 | 313,337 | 304,614 | +140.5% | ||
16,317 | 34,848 | 31,874 | 23,640 | 21,000 | +28.7% | ||||
Nichiden (9902) - (M) | Wholesaler | 92,745 | 119,712 | 124,604 | 112,334 | (*2) | ― | (*2) | ― |
5,533 | 6,051 | 6,595 | 5,154 | (*2) ― | (*2) ― | ||||
NaITO (7624) - (F) | Wholesaler | 51,479 | 46,587 | 50,014 | 46,467 | (*2) | ― | (*2) | ― |
1,343 | 728 | 928 | 836 | (*2) | ― | (*2) | ― | ||
Sugimoto (9932) - (M) | Wholesaler | 41,461 | 44,315 | 45,417 | 43,890 | (*2) | ― | (*2) | ― |
Retailer | 2,292 | 2,461 | 2,870 | 2,528 | (*2) | ― | (*2) | ― | |
Toba (7472) - (M) | Retailer | 25,800 | 28,500 | 29,066 | 26,197 | (*2) | ― | (*2) | ― |
2,115 | 1,774 | 1,895 | 1,328 | (*2) | ― | (*2) | ― | ||
Uematsu (9914) - (M) | Retailer | 7,647 | 7,125 | 7,157 | 6,477 | 6,000 | △21.5% | ||
190 | 92 | 80 | 17 | -17 | △108.9% | ||||
MonotaRO (3064) - (D) | Retailer | 10,897 | 88,347 | 109,553 | 131,463 | 156,468 | +1335.9% | ||
480 | 11,837 | 13,790 | 15,839 | 18,569 | +3768.5% | ||||
*1: (M):Apr.[Year] to Mar.[Year+1], (F):Mar.[Year] to Feb.[Year+1], (D) Jan.[Year] to Dec.[Year]
*2: Forecasts are not disclosed because effects of COVID-19 on sales and profits can not be estimated.
*3: As of Jul. 30, 2020
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Cautionary Statement concerning Forward-looking Statements
This presentation may include forward-looking statements relating to our future plans, forecasts, objectives, expectations, and intentions. Actual results may differ materially for a wide range of possible reasons. In light of the many risks and uncertainties, you are advised not to put undue reliance on these statements.
Contact Us
TEL: 81-6-4869-7190
FAX: 81-6-4869-7178
E-mail:pr@monotaro.com
IR information: https://corp.monotaro.com/en/ir/index.html
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MonotaRO Co. Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 06:05:23 UTC