Developing New Sales Channels for the Eyewear Business and Improving Business Profitability
First written in FY2017-Q1. 9 of 19 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022AchievedAnnual report
「The Company withdrew from the eyeglasses business as of 31 March 2022.」
The policy of withdrawing from the eyeglasses business was implemented on 31 March 2022. - FY2022-Q3AdvancedAnnual report
「In the eyeglasses business, we mainly focused our sales activities on reducing existing inventories and providing after-sales service, centered on our core frames, including Vivid Moon and Plusmix. However, the market slump continued due to the impact of COVID-19, resulting in revenue of ¥122 million (¥330 million in the same period of the previous year) and an operating loss of ¥54 million (operating loss of ¥23 million in the same period of the previous year). The Company announced in October 2021 that it would withdraw from the eyeglasses business as of the end of March 2022.」
Under the policy of withdrawing from the business at the end of March 2022, the Company is proceeding with the business wind-down by focusing its activities on reducing existing inventories and providing after-sales service. - FY2022-Q2ReframedAnnual report
「For the eyewear business, we worked to improve profitability by streamlining sales operations and reducing expenses amid the continuing challenging environment. However, after reviewing the future of the business, we determined that it would remain difficult to secure profitability and improve performance, and decided to withdraw from the business as of the end of March 2022.」
The policy shifted from expanding distribution channels and streamlining the eyewear business to withdrawing from the business by the end of March 2022. - FY2022-Q1WorsenedAnnual report
「For the eyewear business, we conducted sales activities centered on the core frames “Vivid Moon” and “Plus Mix,” but consumers tended to postpone purchases due to the impact of the novel coronavirus infection. As a result, revenue was ¥48 million, compared with ¥89 million in the same period of the previous year, and the operating loss was ¥23 million, compared with an operating loss of ¥10 million in the same period of the previous year.」
Although sales activities for the core frames continued, revenue declined from ¥89 million in the same period of the previous year to ¥48 million due to postponed purchases, and the operating loss widened. - FY2021-Q1WorsenedAnnual report
「For the eyewear business, we continued to streamline operations, as in the fiscal year ended March 2020, while conducting sales activities centered on the core frames “Vivid Moon” and “Plus Mix.” However, consumers tended to postpone purchases more than for contact lenses due to the impact of requests to refrain from going out and eyeglass store closures resulting from the spread of the novel coronavirus. Revenue was ¥89 million, down 60.8% year on year, and the operating loss was ¥10 million, compared with an operating loss of ¥4 million in the same period of the previous year.」
Although business streamlining continued, the eyewear business's revenue declined 60.8% year on year due to requests to refrain from going out and store closures related to the infection, and the operating loss widened. - FY2020Full-year revenue decline and narrower operating lossAnnual report
「For the eyewear business, we pursued business restructuring, including the consolidation of wholesale sales offices primarily in Tokyo and the closure of unprofitable stores, while revenue was ¥594 million, down 29.3% from the previous fiscal year, and the operating loss was ¥54 million, compared with an operating loss of ¥79 million in the previous fiscal year.」
Restructuring progressed through the consolidation of sales offices and closure of unprofitable stores. While the eyewear business recorded lower revenue, the operating loss narrowed from ¥79 million to ¥54 million. - FY2020-Q3AdvancedAnnual report
「From the beginning of the fiscal year, the eyewear business pursued restructuring by consolidating wholesale sales offices primarily in Tokyo and closing unprofitable stores operated by the retail subsidiary, while conducting sales activities centered on the core frames “Vivid Moon” and “Plus Mix.” As a result, revenue was ¥507 million, down 24.9% year on year, and the operating loss was ¥26 million, compared with an operating loss of ¥52 million in the same period of the previous year.」
Wholesale sales offices were consolidated in Tokyo and unprofitable stores were closed, and while revenue declined, the operating loss narrowed from ¥52 million to ¥26 million. - FY2020-Q2AdvancedAnnual report
「During the cumulative second quarter, we pursued business restructuring by consolidating wholesale sales offices primarily in Tokyo and closing unprofitable stores operated by the retail subsidiary, while conducting sales activities centered on the core frames “Vivid Moon” and “Plus Mix.” As a result, revenue was ¥391 million, down 8.8% year on year, and the operating loss was ¥7 million, compared with an operating loss of ¥39 million in the same period of the previous year.」
Wholesale sales offices were consolidated in Tokyo and unprofitable stores were closed, narrowing the eyewear business's operating loss from ¥39 million in the same period of the previous year to ¥7 million. - FY2020-Q1AdvancedAnnual report
「During the cumulative first quarter, we pursued business restructuring by consolidating wholesale sales offices primarily in Tokyo and closing unprofitable stores operated by the retail subsidiary, while conducting sales activities centered on the core frames “Vivid Moon” and “Plus Mix.” As a result, revenue was ¥228 million, down 20.0% year on year, but the operating loss narrowed to ¥4 million from ¥12 million in the same period of the previous year, showing a slight improvement due to the effects of cost reductions.」
Wholesale sales offices were consolidated in Tokyo and unprofitable stores were closed, narrowing the eyewear business's operating loss from ¥12 million to ¥4 million. - FY2019Decision to consolidate sales offices and close unprofitable storesAnnual report
「As the eyewear business, including its retail subsidiary, faced an extremely challenging operating environment, it was decided to consolidate wholesale sales offices primarily in Tokyo and close 6 unprofitable stores operated by the retail subsidiary, and an extraordinary loss related to these measures was recognized.」
While distribution channel expansion continued, the company decided to consolidate wholesale sales offices in Tokyo and close 6 unprofitable stores, moving ahead with a review of its business structure. - FY2019-Q3RestatedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to expand distribution channels and transaction volumes with existing customers. As a result, revenue was ¥675 million, up 0.6% year on year, but the operating loss widened to ¥52 million from ¥48 million due partly to an increase in selling, general and administrative expenses.」
Expansion of distribution channels for the core frames and higher transaction volumes with existing customers continued. - FY2019-Q2RestatedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to expand distribution channels and transaction volumes with existing customers. As a result, revenue was ¥429 million, broadly in line with the same period of the previous year, down 0.2% year on year, but the operating loss widened to ¥39 million from ¥34 million due partly to an increase in selling, general and administrative expenses.」
Distribution channel expansion and higher transaction volumes with existing customers continued, but revenue was broadly unchanged year on year and the operating loss widened from ¥34 million to ¥39 million. - FY2019-Q1AdvancedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to expand distribution channels and transaction volumes with existing customers. As a result, revenue increased 24.7% year on year to ¥284 million, but the operating loss was ¥12 million, compared with an operating loss of ¥4 million in the same period of the previous year, due to a decline in the gross margin and an increase in selling, general and administrative expenses.」
Distribution channel expansion and higher transaction volumes with existing customers progressed, and eyewear revenue increased 24.7% year on year. - FY2018-Q3RestatedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the efficient use of distributors and participation in trade shows, as well as by discontinuing sales of eyeglass lenses.」
Improvement measures continued, including the use of distributors, participation in trade shows, development of new distribution channels, expansion of transaction volumes with existing customers, and discontinuation of eyeglass lens sales. - FY2018-Q2AdvancedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the efficient use of distributors and participation in trade shows, as well as by discontinuing sales of eyeglass lenses. However, revenue was ¥430 million, down 2.5% year on year, due partly to sluggish shipments of core frames to major chain stores. In addition, the operating loss was ¥34 million, compared with an operating loss of ¥10 million in the same period of the previous year, as expenses related to IOFT2017, Japan's largest international eyewear trade show, in which we participated for the first time in 9 years, were incurred ahead of schedule.」
While efforts such as developing new distribution channels continued, a specific sales initiative was implemented through participation in IOFT2017 for the first time in 9 years. However, the eyewear business's operating result deteriorated due to sluggish shipments and expenses incurred ahead of schedule. - FY2018-Q1AdvancedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the discontinuation of eyeglass lens sales.」
New distribution channels, higher transaction volumes with existing customers and profit improvement through the discontinuation of eyeglass lens sales continued, narrowing the operating loss slightly from ¥5 million in the same period of the previous year to ¥4 million. - FY2017-Q3AdvancedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the efficient use of distributors and participation in trade shows, as well as by discontinuing sales of eyeglass lenses. As a result, shipments of new models of the core frames progressed, and revenue was ¥722 million, up 1.7% year on year. The operating result improved to operating income of ¥0.2 million, compared with an operating loss of ¥52 million in the same period of the previous year, partly due to cost reductions and rationalization measures resulting from the discontinuation of eyeglass lens sales.」
New distribution channels, higher transaction volumes and rationalization following the discontinuation of eyeglass lens sales progressed, with revenue up 1.7% year on year and the operating result improving from a ¥52 million loss to ¥0.2 million of operating income. - FY2017-Q2AdvancedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the efficient use of distributors and participation in trade shows, as well as by discontinuing sales of eyeglass lenses, which also generated cost savings.」
New distribution channels, higher transaction volumes with existing customers and cost reductions from discontinuing eyeglass lens sales continued, narrowing the operating loss from ¥23 million in the same period of the previous year to ¥10 million. - FY2017-Q1First statedAnnual report
「Centered on the core frames “Vivid Moon” and “Plus Mix,” we worked to improve business profitability by developing new distribution channels and expanding transaction volumes with existing customers, including through the efficient use of distributors and participation in trade shows, as well as by discontinuing sales of eyeglass lenses.」
Specific measures to improve profitability were disclosed for the first time, including the use of distributors, participation in trade shows, development of new distribution channels, expansion of transaction volumes with existing customers, and discontinuation of eyeglass lens sales.