The following is a summary of the Seven & I Holdings Co., Ltd. (SVNDY) Q4 2023 Earnings Call Transcript:
Financial Performance:
Seven & I Holdings reported FY 2023 operating revenues of JPY11,471.7 billion, up from the beginning-of-the-year plan.
Operating income reached a record high of JPY534.2 billion, up JPY105.5 billion year-on-year.
Net income decreased to JPY224.6 billion, mainly due to a one-time loss incurred from the transfer of Sogo & Seibu shares.
The company forecasts for FY 2024 includes operating revenue of JPY11,246 billion, operating income of JPY545 billion, and net income of JPY293 billion.
Business Progress:
Seven & I Holdings plans to accelerate store-related measures to increase customer traffic.
The company will continue investing in labor-saving technologies and digital transformation (DX) to improve productivity.
The company will initiate a progressive dividends policy, aiming for a total payout ratio exceeding 50%.
They aim to increase sales and profits in both their domestic and overseas convenience store businesses.
Seven & I Holdings plans to expand its digital platform and delivery business, and further modernize their stores to improve the customer experience.
Strategic initiatives also include the acquisition of 7-Eleven Australia, aiming to evolve into a world-class retail group centered on food.
The firm is considering an initial public offering for its Superstore business as part of its growth strategy.
More details: Seven & i Holdings (ADR) IR
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