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    3197   JP3396210001

SKYLARK HOLDINGS CO., LTD.

(3197)
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Skylark : FY2020 Integrated Report

09/01/2021 | 11:32am EST

Integrated Report

2020

Fiscal Year 2020

1

CONTENTS

  1. Value Creation Platform
  2. Message from the CEO
  3. Identification of Materiality
  4. COVID-19Control Measures

Skylark's Strength

  1. Vertically Integrated Supply Chain
  2. Safety and Security Initiatives

Medium and Long-term Business Plan

  1. Store Development Strategy
  2. Initiatives for Enhancing Store Service
  3. Promotion of Digital Transformation
  4. Human Resource Initiatives
  5. Developing Menu to Meet Customers' Needs

ESG Management

  1. Sustainability Management of Skylark Group
  2. Corporate Governance
  3. IR Activities
  4. Risk Management
  5. Board Members and Executive Officers
  6. Financial/Non-FinancialHighlights
  7. CFO Message

Company Information

  1. Company Profile
  2. Stock Information

3

49

1011

1216

1720

2124

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4347

4851

5262

63

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6774

7581

8284

85

8687

2

#01 Value Creation Platform

Skylark's Value Creation Platform

3

#02 CEO Message

Overcoming the COVID-19 Pandemic to Deliver Diverse Food-Related Services and Fulfill Our Role as Part of Social Infrastructure

Makoto Tani

Chairman, President & Chief Executive Officer

SKYLARK HOLDINGS CO., LTD.

Review of 2020

In 2020, we faced an unprecedented crisis in the form of the COVID-19 coronavirus pandemic, and the global economy was hit harder than during the global financial crisis of 2008. The restaurant business was also directly impacted by the crisis, and the numbers of customers visiting Skylark restaurants to dine inside decreased significantly. At the same time, demand for delivery and takeout services has increased dramatically. The COVID-19 crisis has led to radical changes in consumer lifestyles and provided us with an opportunity to review our business model, which until now has focused primarily on table service restaurants. Although results for the year ended with an overall decrease in both sales and operating profit, we were able to limit the negative margin of operating profit to within expected levels by working to expand and bolster delivery and takeout services in response to increasing demand, while at the same time limiting outgoing cash flow by reducing expenses and capital investments, and have been advancing preparations for enhancing our earning power with a view to a swift recovery of business performance.

Although business performance had been recovering toward the end of 2020, it declined again from January to February due to the state of emergency declared because of a third wave of infections. With the lifting of the state of emergency and the gradual relaxation of the mood of self-restraint, we are making every possible effort to prepare for a quick recovery of business performance from April onward, such as by developing menus and implementing promotion strategies. We look forward to seeing our customers able to fully enjoy dining out again after a long period of restraint, while continuing to thoroughly implement preventive measures against infection at our restaurants.

4

Medium- and Long-Term Business Growth Plan

Our business environment is uncertain, such as the fact that it is largely affected by the spread of COVID-19 infection, decline in the labor force due to low birthrate and aging population as well as unclear domestic and overseas political and economic conditions. At the same time, many new demands are emerging, such as increased opportunities for delivery and takeout due to changes in consumer lifestyles caused by COVID-19 pandemic, and growing demand for specialty stores.

In order to respond quickly to such changes in the market, we will strengthen our management base and promote the maximum utilization of business resources, looking ahead to the post- Corona era. In addition, we will transform into an "integrated food service company" that provides services that cover all aspects of customers' daily lives, including dining out, ready to eat, and cooking home. We will continue to provide corporate value and further contribute to society through "food service".

In order to transform into an "integrated food service company", we will execute the strategy in 3 phases based on the following three key pillars:

  • Digital transformation
  • Strengthening chain store foundation
  • Strengthening Environmental, Social and Governance (ESG) initiatives

In the first phase (2021 to 2022), we will establish a high-profit structure. We will survive in COVID-19 pandemic and regard this phase as a preparation period for the recovery of business performance and sales growth in the post-Corona era. We will lower our break-even point and build the high-profit structure by improving productivity, thoroughly cutting costs, and increasing existing store sales.

In the second phase (2022 to 2025), we will promote the development of business models for the next era, such as research and development as well as testing of new businesses to become an "integrated food service company" Specifically, we will provide franchise businesses to external capital, enter the e-commerce, expand the number of overseas stores in full scale, and prepare to enter the ready to eat and cooking home businesses in response to the expected increase in demand for meal delivering service to homes and offices of the elderly in 2025, when the baby- boom generation is expected to reach the age of 75.

The third phase (from 2025) will mark a turning point in the restaurant business due to an increase in the number of elderly people and a decrease in the number of working people. We intend to further expand the earnings of the businesses launched and implemented in the first and second phases and to expand our business scale through M&A in the third phase. As an "integrated food service company", we aim to expand our market share in the field of ready to eat and cooking home in addition to dining out.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Skylark Co. Ltd. published this content on 02 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2021 15:31:06 UTC.


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Sales 2021 264 B 2 333 M 2 333 M
Net income 2021 7 411 M 65,4 M 65,4 M
Net Debt 2021 123 B 1 084 M 1 084 M
P/E ratio 2021 45,1x
Yield 2021 0,94%
Capitalization 345 B 3 054 M 3 049 M
EV / Sales 2021 1,77x
EV / Sales 2022 1,37x
Nbr of Employees 6 161
Free-Float 96,3%
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 1 518,00 JPY
Average target price 1 325,00 JPY
Spread / Average Target -12,7%
EPS Revisions
Managers and Directors
Makoto Tani Chairman, President & Chief Executive Officer
Minoru Kanaya Director & Managing Director-Finance
Akira Hirano Executive Officer & Managing Director-IT
Ichiro Takei Executive Officer & MD-Administration
Atsushi Nishijo Independent Outside Director
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