AEON CREDIT SERVICE CO., LTD.

Transcription

Consolidated Operating Data
For the Fiscal Year Ended February 20, 2006
Twelve Consecutive Annual Increases in Revenue and Income since Listing
(Billions of Yen)
Actual Results
Results for the Fiscal Year Ended February 20, 2006
Transaction volume
Operating revenues
Year-on-Year
Change (%)
¥ 2,183.0
Difference
between
Forecast and
Actual Results
16%
144.7
Number of Cardholders by Country
Number of cardholders increased steadily in each
country, rising to 16.1 million.
Country
31.7
24%
−
Revenue from
cash advances
86.4
15%
−
40.2
15%
+ 8.0
1.4
+ 0.8
Hong Kong
0.9
+ 0.8
Taiwan
0.1
+ 0.4
Malaysia
0.03
+ 0.3
Total
16.1
+ 1.0
Ordinary Income
Domestic and overseas consolidated subsidiaries
recorded firm increases in ordinary income.
Ordinary
Income
(Billions of Yen)
Operating income
0.2
Japan
Ordinary income
Net income
Net income per share
(Yen)
40.1
14%
21.2
14%
¥ 405.22
¥ 49.12
Fiscal Year Ended
February 20, 2006
0.5
+ 66%
NCS Kosan
0.6
+ 17%
ACS Credit
Management
0.3
+ 30%
0.2
Fiscal Year Ended
February 20, 2005
Increase/Decrease
¥ 562.0）
（ ¥ 634.4）
¥ 689.3）
（ ¥ 766.6）
¥ 127.2）
（ ¥ 132.2）
158.0）
（209.8）
197.0）
（258.0）
39.0）
（48.2）
2
355.0）
（375.5）
439.3）
（459.7）
84.3）
（84.1）
117.4）
138.6）
21.2）
20.9%
2,244.93
20.1%
¥15.9
¥ 16.6
Net cash used in operating activities*
(68.6)
(59.6)
(105.8)
(122.8)
34.8
38.6
Net cash used in investing activities
(5.8)
(7.7)
Net cash provided by financing activities
75.2
66.9
Cash and cash equivalents, end of year
16.6
16.4
0.7
(0.1)
Increase in finance receivables
2,650.32
- 0.8%))）
Fiscal Year Ended
February 20, 2006
Cash and cash equivalents, beginning of year
Income before income taxes and minority
interests
Total shareholders’ equity
Shareholders’ equity per
share
+ 24%
Malaysia
(Billions of Yen)
Fiscal Year Ended
February 20, 2005
Shareholders’ equity ratio
+ 12%
6.8
Thailand/ Hong Kong
Consolidated Cash Flows
(Billions of Yen)
Installment sales
receivables
(including securitized
receivables)
Operating loans
receivables
receivables)
Net Increase
¥ 32.7
1
Consolidated Financial Data
Total assets
receivables)
0.1
−
Net Increase
Thailand
2.7
Revenue from
credit card
shopping
(Millions)
13.7
¥ 8.0
18%
Cardholders
Japan
Net increase (decrease) in cash and cash equivalents
*Reasons for recording net cash used in operating activities
1) A ¥12.7 billion increase in notes and accounts receivable reflecting efforts since the fiscal year ended February 20,
2005 to boost transaction volume and accelerate processing of transactions through affiliated merchant payment sites
2) A delay in the repayment of ¥5.0 billion in cash dispenser (CD) cash advances, owing to the bank holiday on
+ 405.39
February 20, 2005
3
4
NonNon-Consolidated Operating Data
NonNon-Consolidated Financial Data
(Billions of Yen)
(Billions of Yen)
Year-on-Year
Change (%)
Actual Results
Difference
between
Forecast and
Actual Results
Transaction volume
¥ 1,949.6
15%
¥ 9.6
Operating revenues
109.7
16%
2.1
27.3
23%
−
75.4
16%
−
Operating income
32.0
12%
0
Ordinary income
32.7
12%
0.02
Net income
19.0
13%
0.05
Revenue from
credit card
shopping
Revenue from
cash advances
Net income per
share (Yen)
363.24
+ 40.99
−
Fiscal Year Ended
February 20, 2005
Transaction Volume/Operating Revenues
・ The number of active cardholders increased to
7.7 million. This was attributable to improvements
to cardholder point programs and tie-ups with
affiliated merchants that register cardholder details
to enable automatic card payments.
・Transaction volume per active cardholder increased
from ¥207,000 to ¥229,000, a solid improvement.
・The number of Gold Card and Electronic Toll
Card (ETC) cardholders rose to 330,000 and
600,000, respectively.
・Revenue from credit card shopping gained 23%,
owing to steady growth of revolving/multiple payment
credit receivables.
Total assets
receivables)
Operating Costs
・ Operating costs mainly reflected improvements to
Tokimeki Point programs; investments in IT systems;
and concerted marketing activities, which included
an extended TV commercial campaign, to promote
our brand.
544.2）
（600.2）
85.4）
（93.5）
Installment sales
receivables
receivables)
117.1）
（158.4）
148.8）
（198.8）
31.6）
（40.3）
Operating loans
receivables
receivables)
298.0）
（308.0）
349.9）
（359.9）
51.8）
（51.8）
106.3）
123.5）
17.2）
Shareholders’ equity
ratio
23.2%
22.7%
- 0.5%
Shareholders’ equity
per share (Yen)
2,031.89)
2,360.82)
+ 328.93）
5
Dividends
(Shares/Shareholders)
Fiscal Year Ending Feb. 20,
2007
Interim dividend
¥ 30
Fiscal Year Ended
Feb. 20, 2006
¥ 35
Forecast
Dividends
・A 3-for-1 stock split was implemented on February 21, 2006.
・The graph below shows the shares and dividends received by a shareholder initially owning
1,000 shares on February 20, 1995.
(Thousands of Yen)
500
13,000
10,520
No. of shares (left axis)
Value of
Dividends
without Stock
Split
¥ 15
6
Stock Splits and Dividends Received
(Yen)
Fiscal Year Ended
Feb. 20, 2005
Increase/Decrease
¥ 458.7）
（506.7）
Total shareholders’
equity
Ordinary Income
・ Ordinary income rose for the twelfth consecutive
year since listing.
Fiscal Year Ended
February 20, 2006
Total shareholders (left axis)
8,000
8,399
400
Dividends received (right axis)
5,541
¥ 45
300
6,000
4,978
4,096
Year-end dividend
40
55
（Forecast）
20
4,000
¥ 60
2,000
Full-term dividend
70
90
35
200
No. of shares: 1,000
Dividends received: ¥15,000
No. of shares: 12,645
Dividends received: ¥442,000
100
¥ 105
（Forecast)
0
0
Payout ratio
21.7%
24.8%
26.2%
Note: For purposes of comparison, figures in parentheses indicate what the dividend per share would have been
without the 3-for-1 stock split on February 21, 2006.
* Figures in parentheses indicate what the dividend per share would be without the 3-for-1 stock split on February 21, 2006.
7
8
Total Cardholders
Market Capitalization
(On a worldwide consolidated basis)
・The market capitalization of AEON Credit Service has increased 17 times since listing.
・Over the last 10 years, we have achieved the ninth highest rate of increase for market capitalization among
listed companies in Japan.
No. of Cardholders
(Billions of Yen)
Market
capitalization as
of April 4, 2006:
¥582.3 billion
800
Japan
Thailand
600
13,700,000
+ 800,000
1,400,000
+ 80,000
870,000
+ 80,000
100,000
+ 40,000
30,000
+ 30,000
Hong Kong
400
Taiwan
Initial market
capitalization:
¥33.3 billion
200
0
Malaysia
Total
2006
1994
16,100,000 + 1,030,000
Note: The rankings appeared in a report in the March 6, 2006 issue of Nikkei Business, comparing rates of increase for market
capitalization between January 31, 1996 and January 31, 2006.
9
Net Increase
Number of Cardholders and Active Cardholders
Annual CardCard-Use Rates and Card Cancellations
Year-on-Year Change (%)
in Number of Cancellations
・We achieved 1,670,000 new sign-ups, contributing to a net increase in
cardholders of 800,000, and a net increase in active cardholders of 490,000.
Card-Use Rate
+ 60%
60%
CardCard-Use Rate:
+ 40%
13,000,000
10
+ 20%
Year-on-Year Change (%) in
Number of Cancellations:
9,000,000
55%
100%
- 20%
5,000,000
ETC auto insurance
SignSign-up points system
Free theft insurance
- 40%
Tokimeki W (Double) Point system
1,000,000
Active
cardholders
Cardholders
2/2002
4,900,000
9,800,000
2/2003
5,750,000
11,300,000
2/2004
6,400,000
12,100,000
2/2005
7,170,000
12,900,000
2/2006
7,660,000
-20%
80%
13,700,000
More affiliated merchants enable automatic card payments
Gold Card
- 60%
11
OneOne-Day Passport system
AEON Festival system
2/2002
2/2003
2/2004
50%
2/2005
2/2006
2/2007
50%
12
Cash Advance Receivables
Credit Card Shopping Transaction Volume
・The number of cardholders using cash advance services increased by approximately 80,000 in the year
ended Feb. 20, 2006.
（Billions of Yen）
（Thousands of Yen ）
・Four Consecutive Years of Growth Rates Exceeding 20%
4,000
1,750
600
Cash Advance Receivables per Person
Cash Advance Receivables
1,500
3,000
400
1,250
2,000
1,000
200
1,000
750
500
5,000
2/2003
2/2004
2/2005
2/2006
0
2/2007
(Forecast)
2/2002
2/2003
2/2004
2/2005
2/2006
0
Cash advance
receivables
NonConsolidated
Per cardholder
Consolidated
Note: Cash advance receivables include securitized receivables. Cash advance receivables per cardholder is based on information available as of February 20, 2006.
13
Net Credit Losses
Allowance for Possible Credit Losses
Allowance for Possible Credit Losses
FY Ended
Feb. 20, 2005
・The rate of increase for total finance receivables has exceeded that of net credit losses.
The graph shows the reverse trends of both items.
Breakdown of Allowance for Possible
Credit Losses
FY Ended
Feb. 20, 2006
14
40%
FY Ended
Feb. 20, 2006
Increase in net credit losses (%)
Increase in total finance receivables (%)
30%
Balance, beginning of
year
10.5
16.2
Provision for allowance
for possible credit
losses
18.6
19.9
Loans over three
months in arrears and
unpaid loans negotiated
by lawyers
16.2
Write-off of credit
losses
13.0
13.5
General allowance for
possible credit losses
6.4
Personal bankruptcies
All losses already
written off
20%
10%
0%
Balance, end of year
Percentage of total
finance receivables
16.2
3.47%
22.6
4.05%
2/2001
Total
22.6
Note: In the fiscal year ended February 20, 2006,
we repaid a total of ¥220 million to cardholders
deemed to have paid excessive interest.
2/2002
2/2003
2/2004
2/2005
2/2006
Increase in net
credit losses
17％
21％
27％
31％
17％
5％
Increase in
total finance
receivables*
16％
11％
18％
21％
15％
20％
*Finance receivables include securitized receivables.
15
16
Bonds Issuance
Fund Procurement
・As a precaution against interest rate hikes, we issued ¥20.0 billion of sevenseven-year unsecured straight bonds in
the first half of the fiscal year ended February 20, 2006, and
and ¥10.0 billion of such bonds in the second half.
First Half
Second Half
Full Term
Accumulated
Total
・LongLong-term, fixed interest financing ratio reached 77%.
90%
As a % of
Total
Borrowings
FY ended Feb. 20,
2005
10.0
−
10.0
60.0
17.6%
FY ended Feb. 20,
2006
20.0
10.0
30.0
90.0
22.2%
FY ending Feb. 20,
2007（Forecast）
20.0
Long-term, fixed interest financing ratio
3.0%
(left axis)
Average fund procurement cost
(right axis)
Direct financing ratio
(left axis)
2.5%
70%
2.0%
30.0
50.0
140.0
26.6％
50%
1.5%
Bonds issued during the fiscal year ended February 20, 2006
Amount
Date
Term
Coupon
30%
Spread
included in
Coupon
Sixth issue
20.0
May 2005
7 years
1.08%
0.15%
Seventh issue
10.0
February 2006
7 years
1.55%
0.15%
1.0%
10%
0.5%
2/2000
2/2001
2/2002
2/2003
2/2004
2/2005
2/2006
2/2007
（Forecast）
17
Impact of Interest Rate Fluctuations
Development of CoCo-Branded Cards
・We increased new signsign-ups by developing coco-branded cards with Cosmo Oil, NTT DoCoMo
and Hanshin Expressway Public Corporation (HEPC). We aim to issue
issue cards to 1.7 million
people in the year ending February 20, 2007.
（Millions of People）
Financing Costs
¥ 3.8 billion
（Actual）
Impact of Interest Rate Hikes
¥ 4.8 billion
（Forecast）
Case 1）
200
Short-term interest rates: 0.3％
Long-term interest rates: 2.0％
Short-term fund
procurement
150
Average interest paid
on procured funds = 1.0％
Cost = ¥590 million
Long-term, fixed
interest borrowings
(therefore, no impact)
Short-term interest rates: 0.7%
Long-term interest rates: 3.0％
NPO cards
HEPC
Makeman Card
-50
Average interest paid
on procured funds = 1.24％
Kasumi Card
-200
2/2007
19
Sunday Card
Yamaya Card
-100
-150
Major specialist
store card
NTT DoCoMo
0
Case 2）
Cosmo Oil
50
Cost = ¥1,780 million
2/2006
JR East Japan
100
Long-term fund
procurement
(Including bond issues
totaling ¥50.0 million)
18
Saty Vivre Card
Jusco Card
House card
1981∼
Sports Authority
Card
Co-branded cards
Alliance partner cards
Affiliated company cards
1994∼
2002∼
2006∼
20
Develop Cards that Appeal to Women
Sign up More Cardholders in the Greater Tokyo Metropolitan Area
Share of the market in each district in terms of household card membership
Number of 20-65 yr.-old women
in Japan
Market share nationally: 30.1％
Market share in the greater Tokyo metropolitan area: 17.4％
Number of 20-65 yr.-old female
38.7 million
AEON Credit cardholders in
Japan: 10.1 million
(i.e. 1 in 3.8 of all women in this
age group in Japan)
Market Share in Terms of
Household Card Membership
Over 45%))
39.0 million
Number of 20-65 yr.-old male
AEON Credit cardholders in
Japan: 3.6 million
Over 30%
))
Number of 20-65 yr.-old men in
Japan
Over 15%
))
(i.e. 1 in 11 of all men in this
age group in Japan)
Less than 15%
Total population: 127.7 million people
Source: Based on estimates available at the end of Feb. 2006 in
“Monthly Report: Population Estimates,” published by the
Statistics Bureau, Ministry of Internal Affairs and Communications
21
Cosmo the Card Opus
・Issued from June 2006
22
AEON Suica Card
・Issued from January 2007
Approximately 4,500 locations nationwide
Phase 1
･Discounts on gasoline prices
Features ･Discounts on signsign-up fees
･Tokimeki Point Club system
Phase 2
･Increase number of ETC cards
Phase 3
･ OnOn-thethe-spot card issuing
*View Suica Card percentages are for December 2005.
23
24
Sign-ups via Internet and Mobile Phones
Develop New Ways to Sign up Cardholders
Current Areas
・We are targeting 120,000 annual signsign-ups via the Internet and mobile phones—
phones—a goal we plan to achieve by
capitalizing on our expertise at attracting new cardholders.
New Areas
Shopping Centers
Pharmacies
120,000
Train Stations
12万人
120,000
Annual sign-ups via the Internet and mobile phones
9万人
90,000
Pre-opening sign-up
campaign
Sign-ups for
iD cards
6万人
60,000
Sign-ups via
mobile phones
3万人
30,000
Development of
QR Code systems
Sign-up campaigns with affiliated merchants
0万人
10,000
Convenience Stores
Supermarkets
2001/2
Gas Stations
2002/2
2003/2
-3万人
Extended period
Time spent in store
Regular Internet-based sign-up campaigns
2004/2
2005/2
2006/2
2007/2
Issue of co-branded cards with Internet companies
Efforts to increase sign-ups via partner web sites
Short period
Use of search engines to increase cardholders
-6万人
Start of sign-ups via the Internet
2/2001
2/2002
2/2003
2/2004
2/2005
2/2007
2/2006
（Forecast）
25
Revamp Card Issuing Processes
26
Enhance the Tokimeki Point Program
Development of IC gift cards
Tokimeki Point Club
Net shopping points
Electronic input and transmission
of card applicant’
applicant’s information
Sign-up points/Tokimeki W (Double) Points
Air miles
2,000 terminals that allow
applicants to designate bank
accounts for card debits
Even shorter card issuing periods
Tokimeki Point balances carried forward to following year
Tokimeki Points exchanged for goods via mobile phones
Increased automation
of credit checks
2003
27
2004
2005
2006
2007~
28
Increase ETC Card and Gold Card Cardholders
Increase Demand by Developing New Areas for Credit Card Use
ETC Card
Target Areas
2004
Mobile phone bills, ETC charges
2005
Electricity and gas bills, newspaper
subscriptions, medical fees
2006
Water bills, JR train passes, parking lot
charges, national pension and health
insurance payments
2007
Taxes and fines
Gold Card
・At store
・Via web site
・Via mobile phone
「ｉＤ」対応カード
□三井住友カード
□イオンクレジット
30
・Our goal is to improve cardcard-carrying rates by developing a broader range of
settlement methods that meet cardholder needs.
Tie-up Partner
Existing Cardholders
(13.7 million)
iD-compatible cards
Sumitomo-Mitsui Card
AEON Credit
Respond to Demand for Small Payment Services
・From July 2006, we will provide credit services to users of iD,
iD, NTT DoCoMo’
DoCoMo’s electronic payment platform that
enables credit card transactions via mobile phones.
Apply for iDiD-related services
during card
signsign-up
・Establish World Desk branches throughout Asia
・Increase the number of AEON Lounges
・Increase the number of affiliated merchants that register details
details of
cardholders whose annual card transactions are over ¥700,000
・Implement crosscross-selling campaigns targeting cardholders who use
their cards frequently
29
Respond to the Development of iD—
iD—a Credit Card Payment Platform for Mobile Phones
New Cardholders
(2 million per year)
・Step up cooperation with Cosmo Oil and HEPC
・Intensify efforts to sign up cardholders via the Internet and
mobile phones
・Increase the number of onon-thethe-spot issuing
sites for ETC Cards (from 21 to 100)
・Develop onon-thethe-spot issuing capabilities in large service areas,
where there is a high potential for signsign-ups
New Services
Apply separately for iDiD-related
services
・Via web site
・Using application form
NTT DoCoMo
included with monthly billing
statement
・Using application form
included with MOM,
MOM, a
magazine for cardholders
AEON Card iD
終了
終了
JR East Japan
31
AEON Suica Card
32
Enhance Our CSR System
Reinforce the Disaster Recovery System
・Invest in such “invisible assets”
assets” as security, safety and reliability
ISO 10002 (for quality management
and customer satisfaction)
FY Ending
Feb. 20, 2007
BS 7799 (for protection of personal information)
Accreditations
Seats
Added
Four Administrative Centers
ISMS (for protection of personal information)
Privacy Mark (for protection of personal information)
Tohoku
ISO 9001 (for quality management standards)
Tokyo
770 seats
70 seats
Osaka
580 seats
80 seats
Chubu
450 seats
50 seats
Tohoku
200 seats
200 seats
2,000 seats
400 seats
ISO 14001 (for environmental management)
Access control systems
Systems
Chubu
Surveillance Center
Osaka
Development of third generation IT systems
2/2003
2/2004
2/2005
2/2006
Tokyo
2/2007
Total
Three Centers Housing Backbone Systems
33
ACS Credit Management
NCS Kosan（
Kosan（Insurance Agency）
Agency）
Actual Results
Ordinary income
（Servicer Business）
Business）
・Outline of operations in the fiscal year ended February 20, 2006
Operating revenues
34
¥ 1.07
¥ 0.62
YoY
Change
(%)
3%
17%
・Provided new products to cardholders
・Opened telemarketing center
・Became first in the industry to receive
Privacy Mark accreditation
Operating revenues
Actual Results
YoY
Change
(%)
¥ 1.27
130%
・Became the first company to be approved by the
government for the collection of pension and
national insurance contributions
・Doubled the number of contact center seats to 200
・Received Privacy Mark accreditation
Ordinary income
¥ 0.39
130%
・Key goals for the fiscal year ending February 20, 2007
Targets
YoY
Change
(%)
Operating revenues
¥ 1.26
17%
Ordinary income
¥ 0.7
13%
・Promote insurance sales utilizing
cardholder purchasing information
・Encourage potential policyholders to
sign up for insurance via mobile phones
35
Targets
YoY
Change
(%)
Operating revenues
¥ 1.83
144%
Ordinary income
¥ 0.55
140%
・Collect a greater volume of payments to the
government
・Double the number of contact center seats to 400
・Prepare for IPO
36
Develop New Financial Services Businesses
Operations in Malaysia
Securities
intermediary
business
Personal loans
Deposit services
Settlement services
Insurance agency
business
Bank agency
business
Credit card
business
Servicer business
Credit guarantee
business
Actual Results
YoY Change (%)
Operating revenues
¥ 2.45
162%
Ordinary income
¥ 0.57
166%
・Became the first nonnon-bank to issue credit cards
30,000 signsign-ups
Note: Exchange rate: 1 ringgit ＝ ¥29.57
・Raise the number of cardholders to 200,000
Cash dispenser network
13.7 million cardholders
Store network of AEON Group
・Establish 30 branches in Malaysia
Targets
YoY Change (%)
Operating revenues
¥ 4.35
178%
・Prepare for the opening of 3 administrative
centers
Ordinary income
¥ 0.76
134%
・Prepare for IPO
37
Operations in Taiwan
38
Expand into New Regions
・ Outline of operations in the fiscal year ended February 20, 2006
China
• Expand tie-up operations with China Union Pay
・Developed 3 new coco-branded cards, bringing
the total of such cards to 17
• Open sales offices in Beijing
・Raised the number of cardholders to 100,000
Beijing
・Opened sales offices in Kaohsiung
Vietnam
Shanghai
Guangzhou
The Philippines
Shenzhen
Taiwan
Hanoi
Thailand
Open representative offices in the Philippines
Hong Kong
Manila
・ Key goals for the fiscal year ending February 20, 2007
Set up representative offices in Vietnam
Malaysia
Indonesia
Establish a subsidiary and launch hire purchase
operations
・Raise the number of cardholders to 230,000 through the development
development of new coco-branded cards
・Return to profitability in terms of yearly results
Jakarta
39
Subsidiary
Representative office
40
Results Forecasts for the Fiscal Year Ending February 20, 2007
(Billions of Yen)
Consolidated
YoY Change
(%)
NonConsolidated
YoY Change
(%)
Transaction volume
2,480.0
14% 「
2,200.0
13%「
Operating revenues
162.0
12%「
123.0
12%「
Operating income
44.5
11%「
35.3
10%「
Ordinary income
44.5
11%「
36.2
11%「
Net income
23.8
12%「
21.0
10%「
Net income per share (Yen)
151.25))
—
133.47
—
Net income per share
without stock split (Yen)
453.75))
48.53「
400.41
37.17「
41

AEON CREDIT SERVICE CO., LTD.

Transcription

Similar documents

2011 - The Couchiching Conservancy

AVS24 2.4 GHZ Wireless Audio/Video Sender

HEMINEVRIN - Alcohol and Alcoholism

No trophy could ever fully express our

Chaise Lounge

Sports Science Summit Sports Science Summit

AUTO-HIT Ltd. Presentation

A golden opportunity to A golden opportunity to

Please click here for project description

Building Capacity, Creating Jobs, Discovering and Developing