Store restructuring through “Acquiring Future Value”
First written in FY2020. 6 of 10 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2023.
0 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「To achieve a fundamental improvement in profitability, the company recognized impairment losses and proceeded with store closures in the fiscal year ending March 2023 as part of its review of the business portfolio. As a result, it expects a ¥2.8 billion positive impact on business profit for the fiscal year ending March 2024 through lower depreciation and amortization expense and reduced losses associated with store closures.」
Store restructuring progressed to the recognition of one-time expenses and the processing of closures, with a ¥2.8 billion positive impact on business profit expected for the fiscal year ending March 2024. - FY2023-Q2RestatedAnnual report
「Although revenue has been recovering since late September, revenue at existing stores struggled in the second quarter, with August, the peak season for the restaurant business, particularly affected. As a result, revenue at existing stores has not returned to the level before the impact of COVID-19 became apparent.」
Although revenue has been recovering since late September, revenue at existing stores has continued not to return to pre-pandemic levels. - FY2023-Q1SoftenedAnnual report
「Private consumption is expected to recover gradually, and performance is expected to enter a recovery trend from the third quarter of the fiscal year ending March 2023.」
The expected timing of the performance recovery has been pushed back from the third quarter of the fiscal year ending March 2022 to the third quarter of the fiscal year ending March 2023. - FY2022-Q2RestatedAnnual report
「Based on these factors, we expect performance to enter a recovery trend from the third quarter of the fiscal year ending March 2022, when the effects of vaccination are expected to emerge.」
The company expects performance to recover from the third quarter of the fiscal year ending March 2022, based on improvements in the break-even point from store closures and cost measures. - FY2022-Q1AdvancedAnnual report
「As part of its store policy, the company opened 1 directly operated restaurant and 1 directly operated izakaya-format store, for a total of 2 new stores, and converted 4 franchise restaurants and 2 franchise izakaya-format stores, for a total of 6 stores, to direct operation. Meanwhile, due to unprofitable operations and the expiration of lease agreements, among other factors, it closed 13 directly operated restaurants and 7 directly operated izakaya-format stores, for a total of 20 stores, and converted 3 directly operated restaurants to franchise operations.」
As part of the store restructuring under “Acquiring Future Value,” the company closed 20 stores in the first quarter and reconfigured the portfolio through a combination of openings, conversions to direct operation, and conversions to franchise operations. - FY2021AdvancedAnnual report
「However, in addition to significantly improving profitability by closing a large number of unprofitable stores and other locations, the Group actively and continuously implemented various cost measures, improving its break-even point by 17.6% compared with the fiscal year ended March 2020.」
The company disclosed that store closures and cost measures related to “Acquiring Future Value” improved the break-even point by 17.6% compared with the fiscal year ended March 2020. - FY2021-Q3AdvancedAnnual report
「As part of its store policy, the company opened 23 directly operated restaurants and converted 24 franchise restaurants and 17 franchise izakaya-format stores to direct operation. Meanwhile, to review the business portfolio for resilience after and during the pandemic and due to unprofitable operations, it closed 77 directly operated restaurants and 130 directly operated izakaya-format stores, for a total of 207 stores, and converted 2 directly operated restaurants to franchise operations.」
As part of its portfolio review under “Acquiring Future Value,” the company closed 207 stores in cumulative Q3, opened 23 new stores, converted 41 franchise stores to direct operation, and converted 2 stores to franchise operations. - FY2021-Q2AdvancedAnnual report
「As part of its store policy, the company vigorously pursued the consolidation and reorganization of stores, primarily in the izakaya format, from the perspective of “acquiring future value” during the first quarter of the current fiscal year, while scrutinizing new openings more carefully than before. As a result, including the acquisition of franchise stores, the number of directly operated restaurants increased by 25 and directly operated izakaya-format stores by 16, for a total increase of 41 stores. At the same time, the company closed 70 directly operated restaurants and 125 directly operated izakaya-format stores, for a total of 195 stores.」
Under “Acquiring Future Value,” the company advanced the consolidation and reorganization of stores, with 195 closures against an increase of 41 stores in cumulative FY2021-Q2. - FY2021-Q1AdvancedAnnual report
「As part of its store policy, the company pursued the consolidation and reorganization of stores, primarily in the izakaya format, from the perspective of “acquiring future value.” It closed 41 directly operated restaurants and 114 directly operated izakaya-format stores, for a total of 155 stores.」
The company demonstrated concrete progress in store consolidation under “Acquiring Future Value,” closing 155 stores, primarily izakaya-format stores, in FY2021-Q1. - FY2020First statedAnnual report
「However, the Group intends to overcome this emergency and restore performance by vigorously pursuing the initiatives described below to “acquire future value.”」
In response to changes in lifestyles and consumption patterns following the pandemic, the company recognized impairment losses and provisions for closure losses for 196 directly operated stores, primarily in the izakaya format, and for its Hokkaido central kitchen. The initiative, presented under a new name, involved closing stores and restructuring the portfolio. For the fiscal year ending March 2021, it expected a ¥3.258 billion positive impact on business profit.