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サツドラホールディングス:220万会員の北海道共通ポイントカード「EZOCA」に強み

Satsudora Holdings: Strength in the Hokkaido common point card "EZOCA" with 2.2 million members.

Fisco Japan ·  Jan 7 13:40

Satsudora Holdings <3544>, which mainly develops business in the Hokkaido region, is developing a wide variety of services starting from stores that are customer contact points, while the core business is the retail business that handles the operation of drugstores and dispensing pharmacies. As a business segment, it is a two-segment system of retail business and other businesses, and in the retail business, in addition to developing a chain of drugstore format stores and dispensing pharmacy stores aiming to become dominant within Hokkaido, it is centered around the operation of inbound format stores at tourist spots, etc. visited by many foreign visitors to Japan. Other businesses include regional marketing and settlement service businesses utilizing the Hokkaido common point card “EZOCA,” development and sales of POS applications, etc. aimed at solving problems from the user's perspective, and CVC business aiming to create synergy with the company's existing businesses and new businesses. In addition to boasting high name recognition by developing dominants mainly within Hokkaido, the vast economic area of the Hokkaido Common Point Card “EZOCA,” which has 2.2 million members, has become an advantage.

The cumulative consolidated results for the second quarter of the fiscal year ending 2025/5 were sales of 49646 million yen, up 3.8% from the same period last year, and operating profit of 876 million yen, up 28.7% from the same period last year. While steadily implementing the growth strategy set out in the medium-term management plan, both the retail business and other businesses performed well, with increased sales and profits. In the retail business, in addition to the strengthening of line roving including fresh food, recovery in demand for cosmetics, and increases in customer unit prices due to rising prices, etc., profitability improved due to increased reaction from evaluation losses of some hygiene products etc. in the previous fiscal year and promotion of digital marketing utilizing price strategies and applications, etc., starting with ESLP, etc., and segment profits grew as the top line steadily grew due to the opening of new pharmacies with dispensaries, etc. The fact that the QR payment business performed well in other businesses also contributed to the expansion of business results.

The full-year earnings forecast for the fiscal year ending 2025/5 is expected to increase 4.7% from the previous fiscal year in terms of sales and 1400 million yen, an increase of 1.1% in operating income, and there is no change from the previous earnings forecast. By steadily implementing the mid-term growth strategy towards the end of the term, we will steadily advance the evolution into a comprehensive regional lifestyle group. Regarding the retail business, although the business environment outlook is still severe, such as population decline and intensification of competition, the attractiveness of the company's stores and services will continue to be enhanced by appealing differences from competitors centered around EZOCA. In addition, it is a policy to steadily build up profits through price strategies and improving the efficiency of store operations. The dividend forecast for the full year is expected to be 10.0 yen per share (expected dividend yield is 1.22%). The company has a basic policy of stable dividends, and it is a policy to continue stably returning profits to shareholders in the future.

As a medium- to long-term growth strategy, the company has set “evolution into a comprehensive regional lifestyle group” as the basic theme. By making maximum use of the Group's management resources, it is poised to establish a unique position within the industry and achieve further expansion in business performance and improvement in corporate value. As growth strategies for this purpose, a comprehensive lifestyle strategy for stores that implement expansion/expansion of product categories and services provided, etc., a regional platform strategy that promotes further expansion and utilization etc. of the EZOCA economic zone, and a collaboration strategy aiming to further accelerate cooperation with local companies and local governments have been defined. In addition to steadily promoting these growth strategies, we aim to realize “from drugstore business to regional connected business,” which is the company group's vision, by promoting organizational strategies such as improving productivity and strengthening governance.

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