24.5.2004: Meldung: Starbucks Coffee Japan Returns To Profitability
Starbucks Coffee Company today announced that Starbucks Coffee Japan has returned to profitability and is well on its way to continued growth and expansion in the country.
"This is a significant milestone for Starbucks in Japan," said Howard Schultz, chairman, Starbucks Coffee Company. "Over the past year, Starbucks Coffee Japan has implemented a solid recovery plan and I believe that their strategic actions have successfully strengthened the foundation of the business, made continued market share gains and increased customer loyalty and brand recognition."
On May 20, 2004, Starbucks Coffee Japan reported sales of US 523.4 million dollars (59,241 million yen (a)) and net income of US 1.7 million dollars (189 million yen) for its fiscal year ended March 2004, achieving the sales and profit targets the company announced in November 2003 through a focus on product innovation in beverage and food, expense reduction initiatives and new store openings.
In the latest annual survey by Nikkei Business Publications, one of the most influential and trusted publishing organizations in Japan, Starbucks was voted the top brand in the Japanese restaurant industry category. Out of 1,000 top brands in the country, Starbucks was also ranked No. 14 in overall brand ranking, a significant increase from the Company"s No. 49 ranking in the previous year.
"Since entering Japan in 1996, it gives me great pride to know that Starbucks continues to be recognized as the most respected and leading specialty coffee brand in the marketplace," added Schultz. "The industry recognition clearly validates the strength and relevance of the Starbucks coffee experience in the lives of customers in Japan. We are very pleased with the accolades the company has received, and coupled with Starbucks Coffee Japan"s positive financial results, we are extremely optimistic about the long-term growth and opportunities for Starbucks in Japan."
Starbucks Coffee Japan was established in October 1995 as a joint venture between Sazaby Inc. and Starbucks Coffee International, the international arm and subsidiary of Starbucks Coffee Company, the leading retailer, roaster and brand of specialty coffee in the world. Starbucks Coffee Japan currently operates more than 500 stores. Starbucks Coffee Japan, Ltd. shares are publicly traded on the Nippon New Market ("Hercules") section of the Osaka Stock Exchange. Questions about Starbucks Japan financial results should be directed to their Investor Relations team at firstname.lastname@example.org.
Starbucks Coffee Company is the leading retailer, roaster and brand of specialty coffee in the world, with more than 7,500 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business.
# (a) The currency is based on the exchange rate of JPY113.19 = USD1.
Starbucks Coffee Japan
Naho Yohda, +81-(0)3-5412-7032
Starbucks Coffee Company
Soon Beng Yeap, 206-318-7430