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【English】Company profile by tiny54tim

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									                                                   English




BOOKOFF Corporation Ltd.
     Tokyo stock exchange(1st section) code:3313




        Company Information
 Financial Results & Forecast FY2008
                       Company Profile
Name:          BOOKOFF CORPORATION Ltd.
Executive      Hiroshi SATO, President
Officer:
Foundation:    May, 1990
Establish:     August, 1991
Head Office:   14-20 Kobuchi 2-chome, Sagamihara City,
               Kanagawa, Japan 229-0004
Business       Operation of “BOOKOFF” (secondhand book stores)
activities:    and other secondhand goods stores
Stores:        Total 1,040 stores (including 614 Franchisees’ stores)
Group:         18 affiliates (including 15 subsidiaries)
Employees:     Total 7,482 (including 6,779 part-timers)
                                                           【 as of March 2008】
                                                                                 1
Secondhand Bookstore “BOOKOFF”




     中古劇場: 多摩川大橋国道1号店




                                 2
                         Our other Secondhand Stores




          B・KIDS                          B・STYLE                         B・SPORTS
 (Secondhand Children’s Goods)     (Secondhand Women's Clothing)   (Secondhand Sports Equipment)




                                                                   We also operate stores dealing in
          B・LIFE                            B・Select                   secondhand audiovisual
(Secondhand Miscellaneous Goods)     (Secondhand Accessories)       equipment, PCs, and musical
                                                                     instruments as a franchisee.      3
                  Large-scale second-hand stores COMPLEX




In specific terms, the concept encompasses “one-stop selling” through the purchase of discarded household
items at the one site, and “a large-scale single re-use retail multi-purpose outlet”, which is comprised of
multiple secondhand retail stores.                                                                            4
Our customers are Our suppliers
Purchasing at
   stores                   85%           Selling
                                        at our own
Pick-up service                            stores
(Going to a                 10%                         Selling at
customer’s home
                                                       new stores
for purchasing)
                                     BOOKOFF
via courier                 5%        Logistics
                                      Co., Ltd.




                                                       Selling at
                                                     overseas stores




                Sales             Purchasing
                 Sales             Purchasing




              Displaying          Cleaning
               Displaying          Cleaning

                                                                       5
              Pricing & Inventory control
                               Books in good conditions are purchased
                               at a one-tenth of new book prices.
   Purchase




                               Those books are first sold
Half-Price Zone                at a half of new book prices.




  ¥ 100 Zone                   Inventories are moves from half-price zone
                               to 100 yen shelve, when the books are unsold
                               for a certain period (normally 4~6 months),
                               or exceed standard number in inventories
                               (normally set at five) to liquidate them.


                                                                              6
                                      Store Network



                                                                               Hokkaido
                                                                             Group 13 stores
                    BOOKOFF
                     BOOKOFF            Group 312 stores
                                         Group 312 stores                     FC 26 stores
                                        FC 590 stores
                                         FC 590 stores

  Overseas
Group 9 stores
 FC 1 stores
                                                                             Tohoku Area
                                                                            Group 30 stores
                                                 Kanto, Koshinetsu Area      FC 35 stores
                                   Kinki Area    (w/o Tokyo, Kanagawa)
  Kyusyu, Okinawa Area           Group 26 stores
     Group 9 stores                                  Group 70 stores
                                  FC 86 stores        FC 134 stores
      FC 80 stores
                 Chugoku, Shikoku Area
                    Group 8 stores Chubu, Hokuriku Area                    Tokyo Area
                     FC 57 stores     Group 25 stores                     Group 77 stores
                                       FC 102 stores    Kanagawa           FC 41 stores
                                                      Group 45 stores
                                                       FC 28 stores
                                                                                               7
                            “BOOKOFF” Store Network (as of Mar. 2008)
                         Potential of Part-time employee

                        1 Store 1 full-time employee
                    Store operated by Part-time employee

  Salary increases                        What ‘Career Path Plan’ is?

    and Promotions                       From the outset, BOOKOFF implements a system to foster growth
                                         among all staff including those with no experience.                         ・are capable of performing
     ‘Career Path Plan’                                                                                               the duties of store manager

  Recruitment of employee                                   ・are capable of performing duties of store manager when required         Manager

                                                                         ・ can assist in the training of new staff      Assistant
                                                                                                                        Manager
                                                         ・can perform duties in a timely fashion
                                                                                                        Trainer
 Sharing of Target                                          ・can perform duties with
                                                            accuracy and precision
                                                                                     Challenger
                                                                                         A
   Sales and Income target
                                          ・are able to perform duties    Challenger
     Objective and goals        ・understanding of basic                      B
                                 operations and duties      Challenger
                                                                C
                                              Trainee


        Training                                                                         Promotions

Part-time employee’s training
operated by Top Management            Recruitment from Part-time employee ⇒ about 30 people
                                      Recruitment from Part-time employee ⇒ about 30 people
                                                                                                                                                    8
                Strategy Outline to Promote Further Expansion
                    Increase competitive advantage in core businesses while
                                developing new businesses


                                                                                      New Businesses

                                                                                                Internet business
                                                                                                Development of diverse re-use
                                                Emerging Businesses                              business models

                                                                                                   【Internet Business】
                                                        Five re-use business                       -Leverage brand prowess and a wealth of products
               Core Business                            Overseas business                          【New Businesses】
                                                                                                   -Expand customer base; leverage synergy effects

                      BOOKOFF business
                                                            -Attract customers utilizing brand prowess
                                                            -Utilize re-use business know-how
                                                                                                          Cultivate new businesses
                    -Establish overwhelming market share
                    -Enhance product procurement capabilities
                    -Create and increase brand awareness
                                                                Increase profits through
Future objectives                                               the effective use of
and issues              Shift toward                            multi-purpose stores
                        large-scale, specialty                                                                                                        9
                        store format
                     Consolidated Results by Segment ended March 2008

                                        Total Sales                                 Total Operating income
                                      JPY 50,486 Mil.                                    JPY 2,371 Mil.
                              Other business
                              JPY4,255Mil.
               Video rental
           JPY1,585Mil.
                                                                      BOOKOFF                                                3,994
Children's goods
  & Women's
    clothing                                                   Children's goods &
 JPY3,569Mil.                                                                                           193
                                                               Women's clothing




                                                                     Video rental                       84


                                                BOOKOFF
                                               JPY41,077Mil.
                                                                   Other business                       109




                                                                   Headquarters          △2,009



                                                                                  △     △     △     0         1,000 2,000 3,000 4,000 5,000
                                                                                3,000 2,000 1,000                             (Mil. of JPY)


                                                                                                                                              10
                     Consolidated Financial Results
                                                                   (Mil. of JPY)


                  2007/3    ratio     YoY      2008/3    ratio           YoY


     Sales        46,224    100.0%    109.5%   50,486    100.0%           109.2%


  Gross profit    30,114      65.1%   109.0%   32,708      64.8%          108.6%


    SG&A          26,740      57.8%   108.1%   30,337      60.1%          113.5%

   Operating
    income
                    3,374      7.3%   117.2%     2,371      4.7%           70.3%


Ordinary income     3,467      7.5%   116.3%     2,571      5.1%           74.2%

 Extra-ordinary
    income
                       52      0.1%    12.9%     1,092      2.2%        2,118.3%

 Extra-ordinary
      loss
                   △180     △0.4%      50.1%   △1,058    △2.1%            589.1%


  Net income        1,900      4.1%   122.8%     1,045      2.1%           55.0%
                                                                                   11
                          Consolidated Balance Sheets
                                                                        (Mil. of JPY)

                      2007/3     ratio     YoY       2008/3     ratio         YoY

Current Assets         12,813     50.1%    118.9%      14,542    50.4%        113.5%

  (Inventories)          6,393    25.0%    118.8%       6,457    25.0%        101.0%

  Fixed Assets         12,741     49.9%    113.8%      14,283    49.6%        112.1%

  Total Assets         25,554    100.0%    116.3%      28,825   100.0%        112.8%
     Current
    Liabilities          8,411    32.9%    107.7%      10,880    37.7%        129.4%

Fixed Liabilities        6,530    25.7%    125.1%       6,846    23.7%        104.4%

Total Liabilities      14,971     58.6%    114.7%      17,726    61.5%        118.4%

  Total Equity         10,583     41.4%          -     11,099    38.5%        104.9%

(minority interest)        137      0.5%   111.4%         149     0.5%        108.3%
   Loan from
     Banks
                         9,899    38.7%    124.0%      12,783    44.3%        129.1%


                                                                                        12
                                                   Breakdown of Shareholder

                                                                                                                                                                           as of 2008/3


                                 2004/03                           2005/3                           2006/3                           2007/3                           2008/3

                                                Number                           Number                           Number                           Number                           Number
                         Number of                        Number of                        Number of                        Number of                        Number of
                                       share      of                    share      of                    share      of                    share      of                    share      of
                         shares held            holders
                                                          shares held            holders
                                                                                           shares held            holders
                                                                                                                            shares held            holders
                                                                                                                                                             shares held            holders


Individuals and others   2,692,000 30.3% 1,088 2,993,080 15.9% 1,860 3,208,166 17.0% 3,652 3,076,603 15.9% 3,670 8,139,040 42.5% 7,614

 Financial institution     261,000 2.9%            18 2,857,400 15.2%               48 3,096,500 16.4%               45 3,272,500 16.9%               39 2,007,386 10.5%               32

Securities companies        85,000 1.0%              9       28,520 0.2%            18       163,042 0.9%            16       166,113 0.9%            21       145,021 0.8%            28

Others corporations      1,460,000 16.5%          138 2,356,800 12.5%              105 2,367,792 12.6%              115 2,312,900 12.0%              107 2,774,000 14.5%              117

 Foreign companies
                            25,000 0.3%            12 1,607,800 8.5%                52 2,454,800 13.0%               61 3,165,884 16.4%               78 4,285,753 22.4%               64
  and individuals

       Founder           3,826,000 43.1%             7 7,950,400 42.2%                7 6,806,100 36.1%                7 6,287,200 32.5%                7      440,000 2.3%              2

  Stock for treasury       523,000 5.9%              1 1,046,000 5.6%                 1 1,046,000 5.6%                 1 1,046,000 5.4%                 1 1,546,000 8.1%                 1

        Total            8,872,000     100.0%   1,273 18,840,000        100.0%   2,091 19,142,400        101.6%   3,897 19,327,200        100.0%   3,923 19,337,200        101.0%   7,858



                                                                                                                                                                                        13
                              Major Shareholders

                                                                                   as of 2008/3

                    Name of shareholder                        Number of shares held    shares

1    Ant DBJ Investment                                                     2,808,100    14.52%

2    Ant Global Partners Japan Strategic Fund I, L.P                        2,808,100    14.52%

3    【Treasury stock】                                                       1,546,000     7.99%

4    TSUTAYA Co., Ltd.                                                      1,146,000     5.92%

5    BOOKOFF Corporation Ltd. (employees' stock)                              673,092     3.48%

6    Mellon Bank ABN AMRO Global Custody N.V.                                 490,000     2.53%

7    USB London Account IPB                                                   468,400     2.42%

8    Nikko Citi Trust Bank (Trust Account)                                    458,600     2.37%

9    The Master Trust Bank of Japan Co.,Ltd. (Trust Account)                  426,900     2.21%

10   KOFU Warehouse Co., Ltd.                                                 300,000     1.55%




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