[Company analysis] Matsumoto Kiyoshi Holdings Co.,Ltd. (マツモトキヨシホールディングス)

「Matsumoto Kiyoshi Holdings Co.,Ltd. (マツモトキヨシホールディングス)」is a business holding company that owns the largest Japanese drug store chain「Matsumoto Kiyoshi(マツモトキヨシ)」. Although it is 18th largest sales volume in the total retail industry in Japan. This company is focusing on healthcare and beauty products. The number of consolidated employees is approximately 6,262.

 

 

1. Company Profile

2. Summary and Features

3. Major Business

4. Financial Information

 

 

 

1. Company Profile

 

※Unit is JPY million, as of 2019

Company name	Matsumoto Kiyoshi Holdings Co.,Ltd.
Company name (Japanese)	マツモトキヨシホールディングス
Date of establishment	Monday, October 1, 2007
Headquarters location	〒270-8511 千葉県松戸市新松戸東9番地1
Capital	22,051
Consolidated sales	575,991
Consolidated operating profit	36,028
Consolidated total assets	318,324
Consolidated capital	209,269
Capital adequacy ratio	65.7%
Consolidated number of employees	6,262

 

 

 

2. Summary and Features

 
「Matsumoto Yakuho(松本薬舗)」, which opened in Chiba Prefecture in 1932, is the predecessor of current「Matsumoto Kiyoshi」. Founder Matsumoto Kiyoshi(松本清) reorganized「Matsumoto Kiyoshi」as a stock company in the 1950s, and as a result of continuing business expansion, they achieved 100 stores in 1981. In the late 1980s, this company opened a state-of-the-art drug store in Ameyoko, Ueno, Tokyo, and entered the home improvement business.

Currently, Japan's drugstore chains are roughly divided into stores that are based on pharmaceuticals and cosmetics and stores that emphasize food. And「Matsumoto Kiyoshi」is the former case. the business of pharmaceuticals, cosmetics, toiletries and other health and beauty products accounts for 70% of total sales. Because their main focus is on health and beauty, the majority of their customers are women.

It is also known as a company that is good in utilizing big data.「Matsumoto Kiyoshi」has approximately 40 million customer data, by the members of "Matsumotokiyoshi Point Card(about 22.7 million)" used by 1,545 stores in Japan, and the users of "Matsumotokiyoshi Official App", and customer data on the "Matsumotokiyoshi Official Account" of "Line". They are actively engaged in analyzing this enormous data, and use it for product development and opening new stores.

Recently, this company announced a business integration with「Kokokara Fine(ココカラファイン)」, which is the same drug store chain of「Matsumoto Kiyoshi」. In case of「Kokokara Fine」, they are also good at pharmaceuticals and cosmetics. According to this business integration, they acheived around 1 trillion yen of sales, and it is the largest sales amount not only in Japan but also in Asia. In the future, synergistic effects on PB cosmetic products may be generated based on this event.

 

 

 

3. Major Business

 

■ Drug Store Chain Business
90% of the total sales of「Matsumoto Kiyoshi」is from the drug store business. The remaining 10% is obtained from supermarkets, home improvement stores, and convenience store type drug stores.

 

 

 

4. Financial information

 

※Unit is JPY million

		2016	2017	2018
Consolidated sales		535,133	558,879	575,991
Consolidated operating profit		28,431	33,565	36,028
Consolidated total assets		285,733	315,161	318,324
Consolidated net assets		184,060	204,871	209,269
Breakdown of sales	Matsumoto Kiyosi retail business	320,441	351,110	365,688
	Other retail business	195,884	187,298	188,917
	Matsumoto Kiyosi wholesale business	358,232	373,410	383,992
	Other wholesale business	16,425	17,377	18,122
	Management support business	14,627	16,961	17,274
	Adjustments	-370,476	-387,279	-398,003