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Today Lawson announced its financial results for the first half of fiscal 2015, or the six months to August 31, 2015. The main consolidated results are listed below:
Operating profit | 42.0 billion yen (+5.1% year on year) |
Recurring profit | 40.7 billion yen (+3.0% year on year) |
Net profit | 19.8 billion yen (-9.5% year on year) |
Click here for more detailed results.
Looking at the second quarter from June to August 2015, we launched a campaign in June offering limited special products to celebrate Lawson’s 40th year in business. We also launched our “Passionate and Delicious” project, which involved a fundamental review of product manufacturing processes and a fresh focus on superior ingredients, manufacturing methods and taste. The resulting products, such as our sockeye salmon lunchbox made with quality Niigata koshihikari rice proved extremely popular with customers. In the first six months to August 2015, we conducted sales and campaigns to attract more customers, and also introduced some strategic price cuts on a portion of products. As a result, our gross profit margin held flat year on year, but same-store sales at Lawson Japan increased 1.2% on the back of a successful pickup in customer numbers.
All these measures, along with contributions from newly acquired subsidiaries Seijo Ishii and United Cinemas, helped consolidated operating profit expand by 5.1%, or 2.0 billion yen, to 42.0 billion yen in six months to August. Meanwhile, consolidated net profit contracted 9.2%, or 2.0 billion yen, year on year to 19.8 billion yen. The decline in profit was caused mainly by a drawdown on deferred tax assets following cuts in the statutory effective tax rate, and higher extraordinary losses for the period.
The competition for new store spots remains rife in the convenience store industry, but we are determined to continue our current management strategy through the second half of fiscal 2015, focusing on strengthening store capabilities, improving product offering and providing better support for franchise stores.
Lawson, Inc. is working hard to develop concrete activities in accordance with our Corporate Philosophy of “Creating Happiness and Harmony in Our Communities.”
Our core goal for fiscal 2015 has been to strengthen the foundation of our convenience store business by focusing on three key areas: our stores, our products and our franchise system. This will help us respond effectively to social changes in our communities driven by falling birth rates, ageing population, and the increase in the number of women in the workforce. It will also help us highlight and maximize areas in which Lawson displays unique strengths, such as over-the-counter fast food.
Lawson will also continue to lay the foundations for sustainable future growth by promoting further development of Seijo Ishii’s upscale supermarket operations, as well as our entertainment and home convenience operations and our international operation. I am confident that these strategies will help achieve our consolidated operating profit target for 2015.
I would like to thank our shareholders and investors for your continued and unwavering support of Lawson’s management strategy, and I look forward to serving you in the years ahead.
October 7, 2015
Genichi Tamatsuka
President and CEO
Representative Director
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