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    4927   JP3855900001

POLA ORBIS HOLDINGS INC.

(4927)
  Report
Delayed Japan Exchange  -  05/25 12:31:56 am EDT
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Results for 1Q-3Q of Fiscal 2021: Supplementary Materials

11/01/2021 | 01:17am EDT

Third Quarter of Fiscal 2021 Supplementary Material

POLA ORBIS HOLDINGS INC.

Director

Finance, Legal & Administration,

PR, IR and CSR

Akira Fujii

This report contains projections of performance and other projections based on information currently available and certain assumptions judged to be reasonable. Actual performance may differ materially from these projections resulting from changes in the economic environment and other risks and uncertainties.

  1. Highlights of Consolidated Performance
  2. Segment Analysis
  3. Forecasts for Fiscal 2021
  4. Initiatives Going Forward & Appendices

1

Q3 Key Topics

Cosmetics Market

  • The overall size of the Japanese cosmetics market (including exports) continued to shrink
  • The impact of the rapid, nationwide spread of COVID-19 infections and the persistence of issues such as the state of emergency was evidenced in the Japanese market
  • The impact of COVID-19 and disasters, was temporarily apparent in the Chinese market during the third quarter, and the business environment and economic trends will require close monitoring going forward

Source: Ministry of Economy, Trade and Industry, Ministry of Internal Affairs and Communications, Japan Tourism Agency, Japan Department Stores Association, Intage SLI, and National Bureau of Statistics of China

Our Group

Consolidated revenue and income increased, with revenue growth mainly from

Medium-term Management

POLA overseas, although domestic storefront operations once again faced a

Plan Indicators (FY2021 Q3 YTD)

difficult business environment due to the impact of COVID-19

Overseas sales ratio

17.8%

POLA domestic e-commerce and overseas sales continued to grow

(+2.8ppt*

ORBIS revenue decreased, but skincare sales grew, and purchase per customer

Domestic e-commerce

27.7%

increased year on year

sales ratio

(+3.8ppt*

Progressive amelioration of losses continued in overseas brands

*vs Dec. 2020

YoY Change in Consolidated Monthly Net Sales

(%)

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep.

30

20

10

0

-10

Month by month

Cumulative total

  • The recovery in storefront operations came to a standstill from July onwards, due to the spread of COVID-19 infections across Japan, the prolonged state of emergency, and restrictions on the flow of people
  • Issues such as lockdowns and store shutdowns also occurred intermittently in Mainland China and Australia

2

Consolidated P&L Changes Analysis

Net Sales to Operating Income

FY2020

FY2021

YoY Change

(mil. yen)

Q3 Results (YTD)

Q3 Results (YTD)

Amount

%

Consolidated net sales

125,814

131,164

5,349

4.3%

Cost of sales

20,504

20,582

78

0.4%

Gross profit

105,310

110,581

5,271

5.0%

SG&A expenses

96,087

98,340

2,252

2.3%

Operating income

9,222

12,241

3,018

32.7%

Key Factors

  • Consol. net sales Increased on a consolidated basis, with revenue growth mainly from POLA overseas, although storefront operations suffered the impact of COVID-19

Cost of sales

Cost of sales ratio improved due to an increase in the contribution from POLA's high price range products

Cost of sales ratio FY2020 Q3: 16.3% FY2021 Q3: 15.7%

SG&A expenses

Labor expenses: up ¥970 mil. YoY

Sales commissions: down ¥1,682 mil. YoY

    • Decreased due to lower commissions as a proportion of net sales

    Sales related expenses: up ¥708 mil. YoY

    Administrative expenses, etc.: up ¥2,255 mil. YoY

    • Increased due to the expansion of POLA overseas and a reactionary increase after the transfer of some COVID-19 related expenses to extraordinary losses in the previous year
  • Operating income Operating margin FY2020 Q3: 7.3% FY2021 Q3: 9.3%

3

Consolidated P&L Changes Analysis

Operating Income to Profit Attributable to Owners of Parent

FY2020

FY2021

YoY Change

(mil. yen)

Q3 Results (YTD)

Q3 Results (YTD)

Amount

%

Operating income

9,222

12,241

3,018

32.7%

Non-operating income

269

1,377

1,107

410.4%

Non-operating expenses

1,716

186

(1,530)

(89.1%)

Ordinary income

7,775

13,432

5,656

72.8%

Extraordinary income

763

372

(390)

(51.2%)

Extraordinary losses

3,704

723

(2,980)

(80.5%)

Profit before income

4,834

13,081

8,247

170.6%

taxes

Income taxes etc.

3,258

4,387

1,129

34.7%

Profit attributable to

10

32

22

216.5%

non-controlling interests

Profit attributable to

1,565

8,661

7,095

453.1%

owners of parent

Key Factors

Non-operating income:

Foreign exchange gain ¥1,108 mil.

Extraordinary losses:

Loss related to COVID-19 ¥173 mil.

Breakdown: POLA ¥36 mil.

ORBIS ¥75 mil. ACRO ¥39 mil

[Reference] FY2020 Q3 breakdown: POLA ¥374 mil. ORBIS ¥501 mil. ACRO ¥293 mil.

4

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Disclaimer

POLA ORBIS Holdings Inc. published this content on 01 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2021 06:16:05 UTC.


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Sales 2022 179 B 1 413 M 1 413 M
Net income 2022 14 952 M 118 M 118 M
Net cash 2022 93 269 M 737 M 737 M
P/E ratio 2022 22,4x
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Capitalization 335 B 2 649 M 2 649 M
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Nbr of Employees 4 261
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Number of Analysts 13
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Satoshi Suzuki President & Representative Director
Noriko Suenobu Executive Officer & Head-Group Research
Koji Ogawa Director & Head-Information Technology
Kazuyoshi Komiya Independent Non-Executive Outside Director
Naomi Ushio Independent Non-Executive Outside Director
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