Four-Store Structure and Profitability for the Chinese Joint Venture
First written in FY2017. 3 of 10 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2021.
2 other companies' latest entry also says "Dropped".
- FY2021DroppedAnnual report
「We dissolved the equity-method joint venture that operated pawnshops and a buying and selling business in China, and established a new wholly owned subsidiary in Shanghai to further expand our business platform.」
The target of operating 4 stores and achieving profitability in the China joint venture ended with the dissolution of the joint venture. The China business was restructured into a different operation through the Shanghai subsidiary. - FY2020-Q3ReframedAnnual report
「Going forward, we plan to restructure our China business and further strengthen our purchase-and-resale business in China.」
The policy was revised from a target centered on operating 4 stores and opening stores in major metropolitan areas in the China joint venture to restructuring the China business and strengthening the purchase-and-resale business. - FY2020-Q2SoftenedAnnual report
「In China, Beijing XinBang Daikokuya Trading Corporation Ltd., our equity-method joint venture with CITIC XINBANG ASSET MANAGEMENT CORPORATION LTD., a consolidated subsidiary of China's largest corporate group, the CITIC Group, and a leading company in China's pawn industry, buys and sells used branded goods at its Beijing store.」
The China joint venture has narrowed its store expansion further, moving from a stage that cited monthly profitability at the Beijing store and expansion in major metropolitan areas to one that mentions only the Beijing store. - FY2019ReframedAnnual report
「Beijing XinBang Daikokuya Trading Corporation Ltd., a joint venture between CITIC XINBANG ASSET MANAGEMENT CORPORATION LTD., a leading company in China's pawn industry and a consolidated subsidiary of CITIC Group, China's largest corporate group and an equity-method affiliate, and our company, operates two stores in Beijing and Shanghai. However, inventory levels remain insufficient. The Beijing store, the first store, has already achieved monthly profitability. Going forward, we aim to increase revenue by building up quality inventory, changing the business model by adopting Daikokuya's model of lowering margins to increase inventory turnover, and focusing on e-commerce sales, as in Japan.」
The China joint venture shifted from a plan to expand to 4 stores to a 2-store structure in Beijing and Shanghai, and revised its initiatives to build up quality inventory, adopt a low-margin, high-turnover model, and focus on e-commerce sales. The Beijing store has achieved monthly profitability. - FY2019-Q3AdvancedAnnual report
「Shin Kokuya, our Chinese joint venture with CITIC, an equity-method affiliate, has steadily increased revenue since opening in December 2016. However, as the joint venture remains in the business launch phase, it posted a net loss, resulting in an equity-method investment loss of ¥56 million. The Beijing store, its first store, has already achieved monthly profitability, and we will seek to expand the business by opening new stores mainly in major metropolitan areas.」
The Beijing store achieved monthly profitability, marking concrete progress. However, the joint venture as a whole recorded an equity-method investment loss of ¥56 million and did not achieve overall profitability. - FY2019-Q2SoftenedAnnual report
「信黒屋 had operated a 4-store network, but has closed its local stores in Shenyang and Qingdao after changing its policy to focus new openings on medium-sized and large stores in major metropolitan areas. Going forward, it will open new stores primarily in major metropolitan areas and work to improve its performance.」
The Chinese joint venture's planned 4-store network shifted toward a smaller existing store base following the closure of the Shenyang and Qingdao stores. Although the policy of opening new stores in major metropolitan areas and achieving profitability continues, the joint venture as a whole recorded an equity-method investment loss of ¥28 million. - FY2019-Q1AdvancedAnnual report
「As a result, although the Beijing store had achieved operating profitability, the joint venture as a whole, Shin Kokuya, remained in the business launch phase and therefore posted a net loss, resulting in an equity-method investment loss of ¥11 million.」
In the Chinese joint venture, the Beijing store achieved operating profitability, while the joint venture as a whole continued to post a net loss, meaning that progress toward the profitability target remained limited. - FY2018-Q3AdvancedAnnual report
「The first store of the Chinese joint venture, an equity-method affiliate, opened in Beijing in December 2016. The Shenyang store, its second location, opened during the second quarter, followed by the Shanghai store in the third quarter and the Qingdao store in the fourth quarter. The Chinese business is therefore progressing steadily.」
The Chinese joint venture expanded to 4 stores in Beijing, Shenyang, Shanghai and Qingdao. However, this filing does not indicate that the joint venture achieved profitability. - FY2018-Q1RestatedAnnual report
「During the consolidated fiscal year under review, we plan to implement the following measures: (d) expand the joint venture business in China and achieve profitability.」
The company reaffirmed the expansion and return to profitability of the Chinese joint venture as a measure for the consolidated fiscal year under review. This filing does not report any new store count or achievement of profitability. - FY2017First statedAnnual report
「The company plans to open 3 new stores in the following fiscal year, expanding from the current 1 store to a 4-store network. Many of the joint venture's new stores will open in the second half of the following fiscal year, with costs incurred ahead of revenue. Accordingly, although the company aims to achieve profitability in the following fiscal year, it expects to post a loss.」
The company set a target of adding 3 stores in the following fiscal year to create a 4-store network and achieve profitability. It also stated that the following fiscal year is expected to be loss-making because costs for the new stores will be incurred ahead of revenue.