Periods With and Without Lease Burdens Following a Brand Transition and 10-Year Cycles in Earnings
First written in FY2021. 3 of 8 entries say "Cited as achieved", first in 2026-04-09. Latest entry: 2026-04-28.
No other company in this theme has enough history to compare yet.
- FY2026-H1Earnings contribution from lower lease expensesAnnual report
「In addition, partly due to a reduction in lease expenses related to renovation work carried out in connection with the conversion to the Lawson Three F brand, operating profit was ¥864 million, up 45.9% year on year, ordinary profit was ¥870 million, up 46.3%, and interim net profit attributable to owners of the parent was ¥249 million, up 58.2%.」
The company states that the reduction in part of the lease expenses related to renovation work during the brand conversion contributed to the actual increase in operating profit and other results for the interim period. - FY2025Existing lease burden declines alongside new renovation burdensAnnual report
「When converting all stores to the Lawson Three F brand, our group fully renovated all stores within the short period of 2 years, at an average cost of more than ¥30 million per store, and continues to bear part of the renovation costs as lease payments. However, in the fiscal year ending February 2026, the burden of lease payments for fixtures will decline significantly.」
Regarding the lease burden arising from the brand conversion, the company expects the burden of lease payments for fixtures to decline significantly in the fiscal year ending February 2026. At the same time, it explains that new lease burdens will arise from renovations at stores 7 years after the conversion. - FY2023Clarification of when lease burdens will declineAnnual report
「It will still take time for the lease burden to decline, but we will invest the operating funds expected to become available as a result in various measures to further increase average daily sales per individual store, thereby achieving sustainable growth and enhancing corporate value over the medium to long term.」
The company has specified its outlook that the lease burden associated with the brand conversion will decline in the fiscal year ending February 2025 in the Chiba and Saitama areas and in the fiscal year ending February 2026 in the Tokyo and Kanagawa areas, with the funds to be invested in increasing average daily sales per store. - FY2021First statedAnnual report
「The reason for adopting a 7-year management plan is that the conversion to the Lawson Three F brand required full renovations costing more than ¥30 million per store on average over a short period, creating periods with and without lease burdens in the future operating environment. This means that the profitability of our group will fluctuate significantly on a 10-year cycle, making it necessary to manage the business from a medium- to long-term perspective rather than being guided by short-term results.」
The company has, for the first time, explicitly recognized the structural impact of full renovations averaging more than ¥30 million per store following the brand conversion, namely the emergence of periods with and without lease burdens and significant 10-year-cycle fluctuations in profitability.