New Fundamental Structural Reform to Achieve Sustainable Growth in Corporate Value
First written in FY2021-Q1. 5 of 8 entries say "Advanced", first in FY2021-Q2. Latest entry: FY2023-Q1.
The whole theme swung hardest in 2024: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「While the closure of brands and stores resulting from the structural reforms completed in the previous fiscal year was a factor behind lower revenue,」
The company stated that the two structural reforms implemented in the previous fiscal year, including brand closures and store closures, had been completed. - FY2022-Q3AdvancedAnnual report
「As part of the structural reforms announced in February 2021, the company completed the closure of approximately 390 stores during the third quarter consolidated cumulative period.」
The structural reforms announced in August 2020 and February 2021 progressed into the implementation phase, with approximately 390 store closures completed in addition to the approximately 300 stores closed by the end of the previous fiscal year. The effects of the structural reforms also contributed to higher profit in the brands business. - FY2022-Q2AdvancedAnnual report
「The number of stores declined by approximately 300 in the previous consolidated fiscal year as part of the structural reforms announced in August of the previous year, and approximately 370 stores were also closed during the six months ended the second quarter of the current consolidated fiscal year as part of the structural reforms announced in February this year.」
The store-withdrawal plan under the structural reforms progressed into the implementation phase, with approximately 370 stores closed during the second quarter consolidated cumulative period in addition to approximately 300 stores closed in the previous fiscal year. - FY2022-Q1AdvancedAnnual report
「Although the store sales channel has declined by approximately 300 stores as part of the structural reforms announced in August of the previous year, we secured more sales opportunities than when approximately 90% of directly operated stores were temporarily closed under the state of emergency in April and May of the previous year.」
The implementation of the new structural reforms reduced the store network by approximately 300 locations, indicating that the reforms had been reflected in the store network. - FY2021AdvancedAnnual report
「Although the year-on-year decline widened at the profit levels from operating profit downward relative to core operating profit, this was mainly because ¥13.812 billion in temporary costs and losses were recorded in connection with the two structural reforms announced on 5 August 2020 and 3 February 2021.」
The two structural reforms moved from the planning stage to full-year implementation and cost-recognition stages, resulting in ¥13.812 billion in temporary costs and losses associated with brand closures, store withdrawals, impairment, product disposal and voluntary retirements. - FY2021-Q3RaisedAnnual report
「The current structural reform is centered mainly on the apparel business, with the closure and consolidation of brands, withdrawal from low-profit stores, and implementation of a voluntary retirement program. Specific details are as follows.」
In addition to the structural reform announced on 5 August 2020, the company approved further structural reforms on 3 February 2021. It expanded the scope and expected costs of the reforms, planning to close 7 brands, exit 450 stores in the following fiscal year, solicit voluntary retirements from approximately 100 employees, and record approximately ¥7.6 billion in structural reform costs for the fiscal year ending March 2021. - FY2021-Q2AdvancedAnnual report
「During the second quarter consolidated cumulative period, the company recognized temporary losses through structural reform measures, including special additional payments associated with soliciting voluntary retirements and impairment losses on store fixed assets and brand goodwill due to the withdrawal from low-profit stores, including brand closures and consolidations. Details are as follows.」
The new structural reform approved in FY2021-Q1 moved into the implementation phase, and the company recorded ¥5.416 billion in structural reform costs. These included ¥1.738 billion in goodwill impairment and ¥1.686 billion in estimated payments of employee termination benefits, among other items. - FY2021-Q1First statedAnnual report
「To fundamentally improve our business structure and sustainably enhance corporate value, the Board of Directors resolved at its meeting on 5 August 2020 to implement the structural reform described below.」
Against the backdrop of COVID-19, approved new structural reform centered on discontinuing and consolidating brands, closing low-profit stores, and voluntary retirement. Five brands were targeted for discontinuation, 358 stores were scheduled to close during the fiscal year, approximately 200 employees were to be solicited for voluntary retirement, and structural reform costs of approximately ¥5.7 billion were expected in the fiscal year ending March 2021.