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Winnipeg Free Press
a day ago
- General
- Winnipeg Free Press
First Nation's low water levels can't be helped: Hydro
Manitoba Hydro says it cannot raise water levels on a northern lake, where a ferry has been grounded, because doing so right now would jeopardize 'electrical reliability' if a drought continues. York Factory First Nation's chief and council are meeting with Manitoba government officials Tuesday, after calling on the province to order the Crown corporation to release dammed water into Split Lake. 'Manitoba Hydro is doing everything it can to avoid extremely low levels on Split Lake,' spokesman Scott Powell wrote in an email to the Free Press Monday. 'However, increasing the levels of Split Lake now to support ferry operations by releasing additional water from Lake Winnipeg and Southern Indian Lake would jeopardize electricity reliability if the drought continues, and it is unknown when these conditions may end.' 'Increasing the levels of Split Lake now to support ferry operations by releasing additional water from Lake Winnipeg and Southern Indian Lake would jeopardize electricity reliability if the drought continues, and it is unknown when these conditions may end.'– Manitoba Hydro spokesman Scott Powell wrote in an email The primary cause of Split Lake's low water level is a significant drought that is affecting levels and flows across Manitoba, he said. Powell said Manitoba Hydro is providing three boats to help move people and supplies to and from York Factory. The Crown corporation is paying compensation under the terms of pre-existing agreements, he said. About 480 people live in the community, which is about 900 kilometres north of Winnipeg. The federal government moved York Factory First Nation from its traditional lands at York Factory to York Landing when a Hudson's Bay Co. depot closed in 1957. A ferry that runs between isolated York Factory First Nation and Tataskweyak Cree Nation stopped operating in July due to low water levels, prompting York Factory to declare a state of local emergency. The province's website said the ferry is out of service for the season. Split Lake's water level was 1.4 metres below normal for this time of year as of Aug. 4. 'It is important that Manitobans know they can count on Manitoba Hydro to always meet their electricity needs for their homes and businesses.'– Manitoba Hydro spokesman Scott Powell In an Aug. 1 letter to the province, York Factory's council accused Manitoba Hydro of prioritizing electricity generation over essential ferry service, and making decisions without accountability. Powell said the utility is operating its system and managing water in a responsible manner to ensure adequate energy reserves are available to supply electricity to all Manitobans over the winter, when demand peaks for heating, lighting and other needs, and into next year should the drought continue. 'We operate all our facilities in accordance with the terms and conditions of the licences granted to us by the provincial government,' Powell wrote. 'It is important that Manitobans know they can count on Manitoba Hydro to always meet their electricity needs for their homes and businesses. 'Even under drought conditions, flows into Split Lake will increase as the demand for electricity from our customers increases in late fall.' York Factory Chief Darryl Wastesicoot said Sunday the ferry is a lifeline because it links the community — located between two hydroelectric dams — with the provincial highway system during open-water season. Residents drive to Thompson for health appointments and to stock up on groceries. Wastesicoot said housing and other projects have been disrupted because supplies cannot be delivered without the ferry. It is expensive to transport goods or supplies by air, he said. The chief is concerned about the low lake level's potential impacts on York Factory's water supply. The First Nation had already called for the construction of an all-season road. The winter road season is not as long as it used to be, Wastesicoot said. Chris KitchingReporter Chris Kitching is a general assignment reporter at the Free Press. He began his newspaper career in 2001, with stops in Winnipeg, Toronto and London, England, along the way. After returning to Winnipeg, he joined the Free Press in 2021, and now covers a little bit of everything for the newspaper. Read more about Chris. Every piece of reporting Chris produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Forbes
31-07-2025
- Business
- Forbes
Use Corporate Storytelling To Turn Vision Into Value For Stakeholders
Scott Powell is President & CEO of Skyline Corporate Communications Group, LLC, an NYC-based investor relations agency. A compelling corporate narrative is a strategic asset in modern capital markets. Corporate storytelling in the public realm means going beyond financials to communicate purpose, vision and values to a diverse audience that includes investors, media, regulators and the broader public. This storytelling must be authentic, consistent and transparent, particularly as companies face increased scrutiny regarding their environmental, social and governance (ESG) performance and corporate ethics. In the public markets, a strong narrative can help attract long-term institutional investors, support valuation premiums and shape media coverage. Whether during a road show or in a shareholder letter, effective storytelling should connect the dots between a company's mission and how it delivers value. For foreign private issuers or companies entering the U.S. markets, aligning the narrative with American investor expectations while preserving cultural identity is a delicate but vital balancing act. What Is Corporate Storytelling? Corporate storytelling is the strategic communication of a company's purpose and mission. It connects business strategy to emotional and human impact, and it builds trust with internal and external parties. 'Storytelling' is the bridge between data and belief. This matters greatly in the public markets because investors invest in people, vision and purpose, not just metrics. A compelling story can drive valuation premiums, build long-term credibility and media equity, and well-told stories may equate to stronger investor confidence. The CEO As Chief Storyteller The CEO's voice sets the tone for the brand narrative. Authentic, consistent leadership communication should build investor trust, while public-facing moments are narrative stages to explain the company's mission, strategic advantages and growth strategies. For example, one former client (a Nasdaq-listed technology company) was waiting to hear whether a major corporation's venture capital arm would make a follow-on investment. The VC had invested into the company before its IPO, and investors were eagerly awaiting the company's announcement on whether this high-profile fund would be exercising its option to make a second-round investment. This was a huge public-facing moment for the company and its CEO, who had to relay the 'bad' news that the VC was passing on this investment opportunity. My team and the CEO knew that investors would immediately interpret this decision as a lack of confidence in the company's technology and future growth opportunities, so we had to use this as an opportunity to explain that this was not the case. It was simply that the VC believed the company was at this time too advanced in terms of its life cycle and maturity, as the company already had a multibillion market capitalization and was generating more than $500 million in revenue. The fund typically invested much earlier in a company's life and product cycles, so this second investment simply no longer aligned with its investment strategy and had nothing to do with confidence or lack thereof in this company's technology, products or growth potential. Once this was communicated publicly to the investment community, investor confidence was reestablished, and the CEO could communicate and direct investors' attention to the company's competitive advantages and upcoming expected milestones. CEOs must align messaging across stakeholders yet also tailor their corporate stories to different stakeholder needs. For example, investors focus most on growth, competitive advantages and strong corporate governance. Media outlets are most interested in relevance and impact, while employees care about purpose and leadership. Storytelling Is More Than Just Marketing Storytelling is a strategic framework, not just public relations. It should guide investor relations, ESG mandates, marketing and leadership communications. Storytelling should evolve as the company grows, but stay rooted in truth. Companies may use organizational milestones as narrative chapters, such as an initial public offering (IPO), product launches, ESG reports, M&A events and so forth. Each milestone is a chance to reinforce the company's story. For example, a high-growth private company could let its investors know that the next major milestone it expects to fuel growth is an IPO. Achieving this objective and raising growth capital would demonstrate to investors that they are part of the company's journey. Another organizational milestone might be using M&A to advance growth objectives for the company, such as how an accretive or opportunistic acquisition might accelerate revenue and earnings objectives and expand market share, also reinforcing the company's growth story by achieving another major corporate milestone. Furthermore, authenticity is everything: Avoid over-polished spins, greenwashing and mixed messages. Companies should embrace transparency and consistency in tone and values. Global Considerations Foreign issuers listing on U.S. stock exchanges should balance U.S. investor expectations with their local identity. Localize storytelling, but do not dilute it, and respect cultural nuances in leadership perception. One way of bridging a 'cultural divide' is for a foreign-based company to invite its U.S.-based investors to attend the company's investor day or bell ringing ceremony at Nasdaq or the NYSE. Foreign-based management teams could bring senior management and board members with them to New York City. Having a daylong event where the company presents its path to the public marketplace, shows videos showcasing its local products and services, and allows investors to mingle with management and board members and understand the capital markets and business culture in that country would be great ways to narrow that cultural gap. Remember that many U.S. investors will never travel to visit the foreign-based company's headquarters, so transparency, accessibility and responsiveness of foreign management teams are of the utmost importance. Key Takeaways A strong narrative is a strategic asset. Public markets demand clarity and authenticity. Corporate storytelling is essential for differentiation and long-term value. Finally, remember: 'Your story isn't what you tell; it's what people believe after you've told it.' Integrate these storytelling best practices into your corporate narrative; it is a critical part of the communication process. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
Winnipeg Free Press
04-07-2025
- Climate
- Winnipeg Free Press
Wildfire prompts second evacuation of Lynn Lake in northern Manitoba
LYNN LAKE – The 600 residents of Lynn Lake in northern Manitoba are being told to leave town for the second time this year due to wildfires. Town officials say a fire is threatening Manitoba Hydro transmission lines and, if those lines are damaged, the community could be without power for a month. The town is offering transportation for evacuees and a reception centre has been set up in Brandon, about 1,100 kilometres by road to the south. Town officials also say several other nearby wildfires, including two blazes to the southeast, could cut off travel between Lynn Lake and Thompson. Manitoba has been experiencing one of its worst wildfire seasons in recent years, and about 21,000 people were forced to flee their homes in June. Manitoba Hydro says flames near Lynn Lake are close to the area's transmission line, and strong winds and high temperatures have added to the problem. Wednesdays Sent weekly from the heart of Turtle Island, an exploration of Indigenous voices, perspectives and experiences. 'There are three fingers of a fire moving towards the transmission line that feeds the town of Lynn Lake. As of late last night, the fire was within two kilometres of that line,' Manitoba Hydro spokesperson Scott Powell said Friday. Fire crews are battling the blaze, but if the transmission line is severely damaged, restoring power in the remote area would take time, Powell added. 'Any time we have difficult terrain — swamps, inaccessibility from roads — obviously, restoration takes longer.' The most recent update from the Manitoba government said there were 60 wildfires burning in the province, with 17 of them classified as out of control. The fire near Lynn Lake covered more than 80,000 hectares. This report by The Canadian Press was first published July 4, 2025.
Wall Street Journal
05-06-2025
- Business
- Wall Street Journal
Champagne Toasts, Big Ambitions: Wells Fargo CEO Embraces Newfound Freedom
Champagne flowed outside of the high-rise corner office of Wells Fargo WFC -0.36%decrease; red down pointing triangle CEO Charlie Scharf on Tuesday after regulators lifted a yearslong penalty that restricted the bank's growth. The suggestion for the C-suite celebration came from the bank's general counsel, Ellen Patterson, a surprise to Scharf because of her normally straight-laced nature. Scharf and the other executives toasted and took photos together at their Manhattan office. Chief Operating Officer Scott Powell, who was in Tuscany, was photoshopped in later.
Yahoo
22-05-2025
- Business
- Yahoo
Q4 2024 Medirom Healthcare Technologies Inc Earnings Call
Scott Powell; Investor Relations; Skyline Corporate Communications Group Fumitoshi Fujiwara; Chief Financial Officer, Director; Medirom Healthcare Technologies Inc Operator Ladies and gentlemen, thank you for standing by. Good morning and welcome to the Medirom year end 2024 financial results and corporate update conference call. (Operator Instructions) A webcast replay of the call will be available beginning at 11:30 Eastern time today through June 4, 2025. For dialing numbers and access codes to this replay, please refer to the company's webcast announcement of May 19 or earnings announcement of May 20. I would now like to turn the call over to Scott Powell, President of Skyline Corporate Communications Group, which is Medirom's investor relations firm. Please go ahead. Scott Powell Good morning and thank you for participating in today's conference call. Joining me from Medirom's leadership team are Kouji Eguchi, Founder, President and CEO; and Fumitoshi Fujiwara, Director and Chief Financial Officer. During this call, Medirom management will be making forward-looking statements, including statements that address Medirom's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from these statements. For more information about these risks, please refer to the risk factors described in Medirom's most recently filed periodic reports on Form 20 filed with the Securities and Exchange Commission on April 29, 2025. And Medirom's press release that accompanies this call, particularly the cautionary statements in it. The content of this call contains time sensitive information that is accurate only as of today, May 21, 2025. Except as required by law, Medirom disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. The discussion today may also include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in the earnings presentation available on Medirom's website in their investor relations section. Non-GAAP financial measures should be considered in addition to not as a substitute for GAAP measures. It is now my pleasure to turn the call over to Fumitoshi Fujiwara, Director and CFO. Fumitoshi Fujiwara Thanks, docs, and good morning to everyone on the call. I'd like to start off by providing a brief overview of our business achievement in 2024, followed by a brief summary of our progress to date in 2025 and an overview of our growth strategy. Please follow along with the earnings presentation available from Medirom's website and the investor relation section at A URL to the presentation is also shown in the company's website with the announcement on May 19 and its earnings announcement on May 20. The company's financial reserve states in US dollars have been translated from Japanese Yen for convenience at the rate of JPY157.37 to $1 as described in earnings presentation. Please let me now direct your attention to the consolidated financial highlights on slide 3 and 4 of our earnings presentation. Total revenue by the company increased by 21.5% to JPY52.7 million due to the increased sales of salons under the sales and outsource business model and store operations outsourcing revenues subsequent to the sales of salons. Cost of revenue increased by 15.1%, due to the increased number of salons purchased back transactions in which we purchased salons from investors to whom we previously sold the salons. However, the cost of revenue ratio to revenue was down from 77% in 2023 to 72.9% in 2024. SG&A increased by 14.3%, primarily due to increase in professional fees, runs for debt to accounts, amortization of the store operating rights, directors salaries, and recruiting expenses. Impairment loss of JPY0.1 million was recorded in fiscal year 2034 due to the expected closure of the salons in 2025 compared with no such loss in 2023. Net income increased 20.1% to JPY0.9 million in 2024, primarily due to the gain from sales of the loans recorded under other income and the release of valuation allowanced tax assets. Cash flow from operating activities was JPY8.5 million, mainly due to decrease in accrued expense caused by payments of taxes or Social Security expenses for the previous years and reclassification of PCs from sales of the loans to net cash provided by investment activities. Cash flow from investing activities was JPY2.3 million, mainly attributable to the proceeds correct from the sales of salons during 2024. Castro financial activities was JPY7.6 million, primarily due to the proceeds from issuance of common stock in a public offering proceeds from issuance of preferred stock in major model love sees a financing round and the increase of both short term and long term loans from banks. Adjusted EBITDA and adjusted EBITDA margin, senior country improved to the positive JPY2.7 million and 5% respectively compared with JPY1.9 million and 4.5% respectively in the prior year. Please now look at the consolidated cash flow statement on stride 12 of our runnings presentation. Net cash and cash equivalent increased by JPY1.4 million in fiscal 2024. This is the end of the financial result overview. We'll now move on to our corporate highlights. During the year ended in December 31, 2024, our average revenue per customer grew by 3.9% to the customer service was 945,395 in 2024. The total number of salon locations for which we saw operating rights was 60 in the year, and in December 31, 2024, as compared to 38 locations during the year and in December 31, 2023. In our digital preventive healthcare segment, we participated in the specific health guidance program promoted by the Ministry of Health, Labor, and welfare of Japan which utilize our upgraded LAB application supporting this problem. We also developed and this really what we believe is currently the only self-charging whatever activity device, the mother bracelet. That's for in 2025, medium has continued the momentum with a service in 2024. This January, our subsidiary, Medirom Mother Lab began providing its remote health monitoring system named [Remily] as well as its mother bracelet to the electronic division of Toon Holdings Inc which drives on the Tokyo Stock Exchange. Also in January, we completed our offering of 2,860,000 ADS raising gross proceeds of approximately JPY5 million. In March, the Chief Business Officer of Medirom Mother Labs , Mr. Yasuhiro Hayami made an investment in Medirom Mother Labs Series, a financing at the primanic valuation of about JPY60 million. Also in March, Medirom obtained an unsecured short-term bank loan around JPY2.4 million, which is being used in part for further development and marketing of the Mother bracelet. Looking forward to the rest of 2025, we plan to pursue several initiatives aimed at further growing and our revenue and profitability. First, we intend to increase our number of electricity owned and branched requisition salons, in particular, salons located at spa facilities, which requires substantially lower capital expenditure compared to standalone salons and salon located in commercial properties. [Ready 24], we are continuing our search to acquire our domestic salon brands that have at least 10 stores. Second, we plan to grow our digital preventive health segment and produce a higher margin for that medicine. Simultaneously, we intend to increase the number of our LAB application users accessing the specific health guidance program I referred to earlier. And we expect to expand the billing user base for this app. Sir, we plan to accelerate the production of our Mother bracelets for large orders from corporate clients. Of course, although we have thus far focused our business activities within the Japanese market. We plan to consider global expansion opportunities, especially franchising or partnership options for our organizations salon business, as well as B2B2C distribution model for our Mother bracelet. Third, we plan to cut expenses at all the operated salons by reducing the number of higher earnings fixed salary service and increasing the number of lower earnings commission-based service. We believe this restructuring will result in improving overall profitability of these salons. Six, we remain in negotiations to finance our plan acquisition of 70% of the equity of Japan Gene Medical Corporation, a prenatal testing company. Although in other countries including the US, prenatal genetic testing service have pro-life in Japan, such services has not been common. We therefore believe this solution would be highly positive for Medirom. Lastly, going forward, we intend to expand customer benefits available through our various loyalty marketing programs. This strategy we believe can include such customers to get those a lot more frequently. This completes my former comments for this conference. I will not pass the call back to the operator, begin the question and answer session. Operator, please go ahead. Thank you. Operator (Operator Instructions) (spoken in foreign language) Operator At this time, there appears to be no further questions. I will now pass the call back to Mr. Fujiwara for closing thoughts. Fumitoshi Fujiwara Okay, no questions. (spoken in foreign language) This is a great opportunity for us to elaborate on a certain topics. So if you do have questions, to be in Japanese or English, please do not hesitate, but we will wait just a few minutes because this is such a rare opportunity. (spoken in foreign language) Fumitoshi Fujiwara Okay, guys. I want to thank all of you for participating on today's call and for your interest in Medirom. We look forward to sharing our progress with you in the future updates. Thanks and have a good day. Thank you. Operator This concludes today's conference call. You may now disconnect. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
