Superstore Operations

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Ito-Yokado Co., Ltd.

(Millions of yen)
	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenues from operations	1,285,942	1,289,586	1,255,017	1,244,262	1,236,180	1,185,147	1,080,934	1,067,545	729,342	814,964	842,736
Net sales	1,253,296	1,255,608	1,219,252	1,213,613	1,205,751	1,154,374	1,053,284	1,038,664	654,251	737,318	764,706
Selling, general and administrative expenses	333,118	334,380	316,879	310,285	304,510	291,051	265,479	259,298	257,943	279,485	276,220
Operating income	1,859	(13,980)	52	3,077	4,708	6,522	7,781	1,620	408	(1,205)	3,020
Ordinary income	4,142	(13,405)	1,786	3,687	6,122	7,615	7,698	2,371	1,087	(268)	4,166
Net income	(6,881)	(23,923)	(13,797)	(5,821)	(7,840)	1,674	(3,705)	(11,201)	(15,203)	(25,963)	(33,737)
Capital expenditures	41,067	58,555	30,636	18,072	44,057	27,305	20,613	29,311	25,773	29,519	39,365
Depreciation and amortization^*3	11,137	13,125	13,654	12,606	12,191	13,254	12,594	13,318	15,402	18,021	20,112
Total assets	817,735	799,073	753,315	736,336	721,594	713,839	682,167	666,022	650,372	697,754	658,879
Net assets	606,327	581,223	544,808	539,608	530,367	529,737	512,489	507,849	492,632	505,138	472,929
EBITDA	12,997	(855)	13,707	15,683	16,899	19,776	20,375	14,939	15,810	16,815	23,133
ROA (%)	(0.8)	(3.0)	(1.8)	(0.8)	(1.1)	0.2	(0.5)	(1.7)	(2.3)	(3.9)	(5.0)

Ito-Yokado

(Millions of yen)
	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Gross sales^*1	1,253,296	1,255,608	1,219,252	1,213,613	1,205,751	1,154,374	1,053,284	1,038,664	1,039,102	1,041,253	978,206
Food & Drug^*2	-	-	-	-	-	-	-	-	-	578,590	526,785
Food^*2	-	-	-	-	-	-	-	-	-	482,006	438,853
Speciality stores^*2	-	-	-	-	-	-	-	-	-	129,975	108,562
Lifestyle^*3	-	-	-	317,460	310,796	285,985	238,816	219,985	217,398	213,308	-
Specialty stores^*3	-	-	-	13,484	13,213	13,488	13,592	11,791	13,455	13,250	-
Food^*3	-	-	-	550,399	538,778	516,120	517,101	506,270	488,764	482,006	-
Apparel	193,354	187,047	179,027	162,589	153,590	-	-	-	-	-	-
Household goods^*4	153,506	142,811	122,445	165,083	162,021	-	-	-	-	-	-
Food	592,913	601,672	585,457	553,670	547,175	-	-	-	-	-	-
Merchandise sales	939,774	931,531	886,930	881,343	862,788	815,594	769,510	738,046	719,618	708,566	635,348
Tenants	301,376	314,612	322,191	324,328	336,390	335,359	278,428	297,225	317,230	329,571	333,336
Other	12,145	9,464	10,130	7,940	6,573	3,420	5,345	3,392	2,252	3,115	9,521
Existing store sales increase (decrease) (%)	(4.5)	0.2	(4.2)	(1.4)	(1.1)	(2.9)	(0.6)	(0.5)	(1.0)	(1.1)	(3.8)
Number of customers (%)	(5.7)	(0.1)	(4.4)	(1.7)	(1.1)	(3.5)	(6.9)	(0.3)	(1.2)	(1.0)	(2.4)
Average spending per customer (%)	1.3	0.4	0.3	0.3	0.0	0.7	6.7	(0.3)	0.1	(0.2)	(1.4)
Merchandise gross profit margin (%)	29.9	28.6	29.1	29.6	29.6	29.9	29.6	29.0	29.1	28.5	27.6
Number of stores	181	182	171	164	159	157	132	128	126	123	92
Openings	3	3	4	2	1	4	3	0	0	0	0
Closures	1	2	15	9	6	6	28	4	2	3	31
Total sales floor space (㎡)^*5	2,832,235	2,802,078	2,776,875	2,653,996	2,547,874	2,506,284	2,373,250	2,288,584	2,495,162	2,449,609	1,942,550
Directly managed sales floor space (㎡)^*5	1,630,246	1,590,958	1,508,282	1,490,522	1,420,357	1,355,959	1,230,268	1,162,773	1,105,108	1,073,816	748,427
Sales per square meter (Thousands of yen)^*6	572	585	564	575	584	591	602	622	641	645	683
Full-time employees (fiscal year-end)	8,029	7,790	7,654	7,663	7,443	7,238	6,477	6,024	5,635	5,131	4,159
Part-time employees^*7	31,245	32,106	27,540	27,750	26,690	24,275	22,319	20,059	18,619	16,668	13,261
Ratio of part-time employees (%)	79.3	80.0	79.9	78.0	77.9	76.7	76.6	76.3	76.3	75.5	75.2
Sales per employee (Thousands of yen)^*8	26,074	26,099	25,716	24,766	25,190	25,776	26,403	28,066	29,477	32,103	36,035

*1 “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from FY2022. Net sales under the previous accounting method are shown as “Gross sales.”

*2 Ito-Yokado has revised its merchandise category details due to organizational changes from March 2024. Figures for Food & Drug includes former “Food” and part of former “Lifestyle”, and for Specialty stores includes previous “Specialty stores” and part of former “Apparel.” Figures for FY2023 have been calculated and displayed in the same manner.

*3 From FY2019, the previous product-based sales classifications have been revised from apparel, household goods, and food to lifestyle, specialty stores, and food. Figures for FY2017 and FY2018 have been calculated and displayed in the same manner.

*4 From FY2017, Seven Bi no Garden Co., Ltd. was absorbed through a merger and its figures are reflected.

*5 The method of calculating sales floor space was changed in FY2022.

*6 Sales per square meter = Merchandise sales ÷ Weighted average floor space

*7 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*8 Sales per employee = Merchandise sales ÷ Average number of employees (including part-time employees)

Notes) 1. “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from FY2022.

2. On September 1, 2023, Ito-Yokado Co., Ltd merged with York Co., Ltd. Figures for the period ended August 31, 2023 and earlier do not include the figures of former York Co., Ltd. Although Ito-Yokado Co., Ltd. merged with York Co., Ltd. on September 1, 2023, figures for gross sales by merchandise category, existing store sales increase and gross profit margin by merchandise category are calculated by Ito-Yokado and York Mart/York Foods, etc. separately

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Ito-Yokado Co., Ltd.

Revenues from operations and Operating income

Net income and ROA

Ito-Yokado

Breakdown of sales by merchandise category

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York Mart/York Foods, etc.

(Millions of yen)
	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Gross sales^*1	132,067	140,145	141,649	143,610	144,975	142,936	182,219	188,961	184,616	191,404	197,924
Existing store sales increase (decrease) (%)	0.6	1.8	(1.6)	(0.5)	(1.2)	(2.2)	6.7	(3.4)	(3.1)	2.8	1.6
Number of customers (%)	-	-	-	-	-	-	-	(2.2)	(2.5)	1.4	(0.1)
Average spending per customer (%)	-	-	-	-	-	-	-	(1.3)	(0.6)	1.3	1.6
Merchandise gross profit margin (%)	28.8	28.8	28.6	28.6	29.0	29.2	29.1	28.2	27.7	27.1	26.4
Number of stores	76	76	78	78	79	78	100	101	103	103	104
Openings	2	4	2	1	2	2	23	1	2	2	1
Closures	0	4	0	1	1	3	1	0	0	2	0
Total sales floor space (㎡)	-	-	-	-	-	-	-	213,383	216,506	218,395	221,699
Directly managed sales floor space (㎡)	124,223	126,639	129,000	128,194	126,782	126,621	151,810	155,738	158,775	159,370	161,725
Sales per square meter (Thousands of yen)^*2	1,130	1,158	1,149	1,154	1,145	1,128	1,227	1,197	1,135	1,199	1,224
Full-time employees (fiscal year-end)	1,227	1,245	1,255	1,307	1,314	1,320	1,606	1,656	1,647	1,496	1,425
Part-time employees^*3	4,367	4,715	4,524	4,494	4,840	4,583	4,505	5,804	5,339	5,137	5,045
Ratio of part-time employees (%)	79.3	80.0	79.9	78.0	77.9	76.7	76.6	77.4	75.8	76.6	77.8
Sales per employee (Thousands of yen)^*4	22,367	22,723	23,024	23,203	23,472	23,193	25,106	25,580	27,458	28,453	30,520

*2 Sales per square meter = Merchandise sales ÷ Weighted average floor space

*3 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*4 Sales per employee = Net sales ÷ Average number of employees (including part-time employees)

Notes) 1. “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from FY2022.

2. Although Ito-Yokado Co., Ltd. merged with York Co., Ltd. on September 1, 2023, figures for gross sales by merchandise category, existing store sales increase and gross profit margin by merchandise category are calculated by Ito-Yokado and York Mart/York Foods, etc. separately.

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Trend in the number of stores

(Stores)
By region	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Hokkaido	11	11	11	11	10	9	8	7	6	6	-
Tohoku	10	10	10	10	10	10	9	9	9	8	-
Kanto	206	207	203	198	197	196	196	196	197	195	182
Chubu	16	16	14	14	14	13	12	10	10	10	7
Kinki	11	11	10	8	7	7	7	7	7	7	7
Chugoku	3	3	1	1	-	-	-	-	-	-	-
Total	257	258	249	242	238	235	232	229	229	226	196

By format	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Superstores	136	136	127	121	116	112	104	99	97	95	69
Shopping centers	17	17	18	19	19	19	19	20	20	19	17
Food specialty stores	28	29	26	24	24	26	9	9	9	9	6
Ito-Yokado Total	181	182	171	164	159	157	132	128	126	123	92
York Mart/York Foods, etc.	76	76	78	78	79	78	100	101	103	103	104
Ito-Yokado Co., Ltd. Total	257	258	249	242	238	235	232	229	229	226	196

Note) Number of stores at fiscal year-end

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York-Benimaru

(Millions of yen)
	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenues from operations	396,930	412,977	426,172	437,197	445,297	446,843	477,633	478,144	469,994	491,515	503,797
Net sales	390,492	406,223	418,729	429,064	437,201	438,637	469,057	469,415	458,991	479,931	491,952
Selling, general and administrative expenses	84,796	88,784	92,185	94,713	98,337	99,932	106,007	105,044	126,357	132,669	136,863
Operating income	12,820	13,324	14,054	14,070	12,801	13,100	16,548	14,704	18,013	18,701	16,810
Ordinary income	14,018	14,529	15,344	15,301	13,973	14,308	17,707	15,953	18,421	19,183	17,153
Net income	7,792	8,969	8,982	9,350	7,672	6,712	7,845	9,055	45,278	11,616	9,898
Capital expenditures	14,120	10,642	12,330	13,452	10,328	13,148	17,056	17,437	17,425	15,396	25,831
Depreciation and amortization	3,569	3,931	4,519	5,148	5,675	5,883	6,259	7,297	9,466	10,093	10,551
Total assets^*1	182,267	184,894	177,983	184,302	183,481	190,090	199,509	201,144	247,713	261,881	268,930
Net assets	140,118	141,435	136,514	140,016	140,769	141,422	143,447	147,122	186,606	193,117	196,612
EBITDA	16,389	17,255	18,573	19,218	18,476	18,984	22,808	22,001	27,480	28,794	27,362
ROA (%)	4.4	4.9	5.0	5.2	4.2	3.6	4.0	4.5	20.2	4.6	3.7
Gross sales	-	-	-	-	-	-	-	-	477,377	498,309	511,126
Fresh food	132,110	139,489	145,105	149,910	153,597	154,442	169,112	167,111	167,563	173,838	177,755
Processed food	92,181	95,761	98,819	101,977	104,950	106,140	114,288	114,763	116,252	121,575	127,285
Daily food	73,843	77,433	81,101	84,097	86,551	87,235	94,955	95,394	97,652	103,815	106,085
Delicatessen	-	-	-	-	-	-	-	-	58,235	61,414	62,553
Food total	298,136	312,683	325,026	335,985	345,100	347,818	378,356	377,269	439,703	460,644	473,679
Apparel	16,614	15,887	14,967	13,531	12,761	11,747	10,751	10,314	10,156	10,143	9,965
Household goods	20,694	20,398	20,296	19,993	19,270	19,005	19,885	18,500	18,062	18,402	17,993
Merchandise sales	335,445	348,970	360,290	369,510	377,132	378,571	408,993	406,085	467,922	489,190	501,639
Tenants	55,047	57,253	58,439	59,553	60,069	60,066	60,064	63,330	9,455	9,119	9,487
Existing store sales increase (decrease) (%)	0.2	1.2	0.5	(0.4)	(1.0)	(1.2)	5.0	(0.4)	(0.8)	2.4	2.0
Number of customers (%)	(0.1)	1.5	0.8	0.0	(0.9)	(2.3)	(3.3)	(1.0)	(2.2)	(0.3)	0.0
Average spending per customer (%)	0.2	(0.3)	(0.3)	(0.5)	(0.2)	1.1	8.5	0.6	1.4	2.7	1.9
Merchandise gross profit margin (%)	25.6	25.7	25.8	25.7	25.8	26.1	26.4	25.8	30.3	30.4	30.1
Number of stores	200	205	213	220	225	232	235	237	246	248	248
Openings	8	6	9	11	7	8	5	5	11	5	3
Closures	1	1	1	4	2	1	2	3	2	3	3
Total sales floor space (㎡)	628,639	640,667	656,950	675,128	682,795	697,646	703,029	709,077	722,244	721,126	721,268
Directly managed sales floor space (㎡)	485,123	494,201	505,269	519,177	525,508	534,926	541,036	544,925	595,516	599,676	596,317
Sales per square meter (Thousands of yen)^*2	721	727	733	735	727	721	764	752	783	800	825
Full-time employees (fiscal year-end)	2,614	2,660	2,685	2,697	2,747	2,766	2,810	2,866	3,142	3,132	3,133
Part-time employees^*3	10,984	11,168	11,353	11,903	11,953	11,811	12,178	12,166	16,005	16,183	16,371
Ratio of part-time employees (%)	80.6	80.5	80.6	81.2	81.0	80.8	81.2	80.9	83.4	83.8	83.8
Sales per employee (Thousands of yen)^*4	24,607	25,156	25,581	25,208	25,566	25,888	27,255	26,989	23,923	24,847	25,174

*1 “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28, February 16, 2018) has been applied to total assets from FY2019 and reflected retroactively in the figures for FY2018.

*2 Sales per square meter = Merchandise sales ÷ Weighted average floor space (excluding floor space of the stores which have been temporarily closed)

*3 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*4 Sales per employee = Merchandise sales ÷ Average number of employees (including part-time employees)

Notes) 1. “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from FY2022. Net sales under the previous accounting method are shown as “Gross sales.”

2. On March 1, 2022, York-Benimaru merged with Life Foods, which formerly produced and sold delicatessen mainly in York-Benimaru stores.