Summary of Consolidated Financial Results
for the Three Months Ended May 31, 2020 (Q1 FY2021)
(Based on Japanese GAAP)
July 28, 2020 | ||||||||||||||||||
Company name: | ABC-MART, INC. | |||||||||||||||||
Stock exchange listing: | Tokyo | |||||||||||||||||
Stock code: | 2670 | URL | https://www.abc-mart.co.jp/ir/ | |||||||||||||||
Representative: | President and Representative Director | Minoru Noguchi | ||||||||||||||||
Inquiries: | Director, Corporate Planning Office Manager Jo Kojima | TEL | 03-3476-5452 | |||||||||||||||
Scheduled date to file Quarterly Securities Report: | July 30, 2020 | |||||||||||||||||
Scheduled date to commence dividend payments: | - | |||||||||||||||||
Preparation of supplementary material on quarterly financial results: | Yes | |||||||||||||||||
Holding of quarterly financial results meeting: | Yes | (for institutional investors and analysts) | ||||||||||||||||
(Amounts less than one million yen are rounded down) | ||||||||||||||||||
1. Consolidated financial results for the three months ended May 31, 2020 (from March 1, 2020 to May 31, 2020) | ||||||||||||||||||
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||||
owners of parent | ||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||
Three months ended May 31, 2020 | 43,609 | (41.6) | 1,335 | (90.7) | 1,780 | (87.7) | 1,058 | (89.2) | ||||||||||
Three months ended May 31, 2019 | 74,648 | 6.6 | 14,315 | 3.9 | 14,502 | 2.1 | 9,811 | 2.4 | ||||||||||
(Note) Comprehensive income: | ||||||||||||||||||
Three months ended May 2020 952 million yen (△89.9%) | Three months ended May 2019 | 9,397 million yen (38.6%) | ||||||||||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||||
Yen | Yen | |||||||||||||||||
Three months ended May 31, 2020 | 12.82 | - | ||||||||||||||||
Three months ended May 31, 2019 | 118.88 | - | ||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||||
As of May 31, 2020 | 302,728 | 265,746 | 87.4 | 3,205.26 | ||||||||||||||
As of February 29, 2020 | 311,084 | 271,809 | 87.0 | 3,279.24 |
(Reference) Shareholders' Equity: | |||||||
As of May 31, 2020 264,559 million yen | As of February 28, 2020 | 270,665 million yen | |||||
2. Cash dividends | |||||||
Annual dividends per share | |||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Year ended February 29, 2020 | - | 85.00 | - | 85.00 | 170.00 | ||
Year ending February 28, 2021 | - | ||||||
Year ending February 28, 2021 (Forecast) | 85.00 | - | 85.00 | 170.00 |
(Note) Revisions to dividend forecasts published most recently: None
3. Forecast of consolidated financial results for the year ending February 28, 2021 (from March 1, 2020 to February 28, 2021)
Consolidated earnings forecast for the fiscal year ending February 28, 2021, has not yet disclosed at this time because it is difficult to make a proper and reasonable calculation.
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3. Notes
- Changes in significant subsidiaries during the three months ended May 31, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
Yes
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2020 | 82,539,646 | shares | As of February 29, 2020 | 82,539,646 | shares | |
Number of treasury shares at the end of the period | ||||||
As of May 31, 2020 | 470 | shares | As of February 29, 2020 | 470 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended May 31, 2020 | 82,539,176 | shares | Three months ended May 31, 2019 | 82,532,002 | shares |
THIS QUARTERLY CONSOLIDATED FINANCIAL RESULTS STATEMENT IS EXEMPT FROM THE QUARTERLY REVIEW PROCEDURES.
FORWARD LOOKING STATEMENTS AND OTHER SPECIAL ITEMS
The consolidated and non-consolidated business forecasts the fiscal year ending February 28, 2021, have not been determined because it is difficult to reasonably calculate the impact of the new coronavirus at this stage. We will announce it as soon as it is possible to disclose our business forecast.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of February 29, 2020 | As of May 31, 2020 | ||
Assets | |||
Current assets | |||
Cash and deposits | 149,344 | 121,470 | |
Notes and accounts receivable - trade | 10,493 | 9,824 | |
Inventories | 68,011 | 74,002 | |
Other | 5,990 | 5,195 | |
Allowance for doubtful accounts | (36) | (46) | |
Total current assets | 233,803 | 210,446 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 31,559 | 32,748 | |
Accumulated depreciation | (16,789) | (17,002) | |
Buildings and structures, net | 14,770 | 15,746 | |
Tools, furniture and fixtures | 14,935 | 14,917 | |
Accumulated depreciation | (9,643) | (9,757) | |
Tools, furniture and fixtures, net | 5,292 | 5,159 | |
Land | 17,029 | 16,955 | |
Construction in progress | 372 | 518 | |
Other | 452 | 454 | |
Accumulated depreciation | (397) | (394) | |
Other, net | 55 | 60 | |
Total property, plant and equipment | 37,520 | 38,439 | |
Intangible assets | |||
Trademark right | 1,162 | 1,059 | |
Goodwill | 2,054 | 1,846 | |
Other | 2,697 | 2,782 | |
Total intangible assets | 5,914 | 5,688 | |
Investments and other assets | |||
Investment securities | 33 | 15,667 | |
Shares of subsidiaries and associates | 2,647 | 2,647 | |
Long-term loans receivable | 1,660 | 1,640 | |
Leasehold and guarantee deposits | 25,522 | 25,030 | |
Deferred tax assets | 3,357 | 2,515 | |
Other | 639 | 668 | |
Allowance for doubtful accounts | (17) | (16) | |
Total investments and other assets | 33,845 | 48,154 | |
Total non-current assets | 77,280 | 92,282 | |
Total assets | 311,084 | 302,728 |
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(Millions of yen) | |||
As of February 29, 2020 | As of May 31, 2020 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 16,413 | 13,393 | |
Short-term borrowings | 2,216 | 1,372 | |
Income taxes payable | 7,150 | 7,831 | |
Provision for bonuses | 985 | 1,634 | |
Provisions | 219 | 164 | |
Asset retirement obligations | 23 | 14 | |
Notes payable - facilities | 1,045 | 1,619 | |
Other | 9,114 | 8,852 | |
Total current liabilities | 37,170 | 34,883 | |
Non-current liabilities | |||
Retirement benefit liability | 799 | 839 | |
Asset retirement obligations | 453 | 446 | |
Other | 852 | 812 | |
Total non-current liabilities | 2,105 | 2,099 | |
Total liabilities | 39,275 | 36,982 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 19,972 | 19,972 | |
Capital surplus | 24,043 | 24,043 | |
Retained earnings | 219,616 | 213,659 | |
Treasury shares | (2) | (2) | |
Total shareholders' equity | 263,630 | 257,673 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 4 | 1,973 | |
Foreign currency translation adjustment | 7,030 | 4,912 | |
Total accumulated other comprehensive income | 7,035 | 6,886 | |
Non-controlling interests | 1,143 | 1,186 | |
Total net assets | 271,809 | 265,746 | |
Total liabilities and net assets | 311,084 | 302,728 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Three months ended | Three months ended | ||
May 31, 2019 | May 31, 2020 | ||
Net sales | 74,648 | 43,609 | |
Cost of sales | 34,923 | 21,110 | |
Gross profit | 39,725 | 22,498 | |
Selling, general and administrative expenses | |||
Packing and transportation costs | 955 | 775 | |
Advertising expenses | 1,536 | 1,413 | |
Storage costs | 832 | 784 | |
Remuneration, salaries and allowances for directors (and other | 7,095 | 6,021 | |
officers) | |||
Provision for bonuses | 665 | 710 | |
Retirement benefit expenses | 109 | 119 | |
Legal and other welfare expenses | 984 | 1,049 | |
Rent expenses on land and buildings | 7,174 | 5,156 | |
Depreciation | 1,134 | 1,243 | |
Utilities expenses | 527 | 428 | |
Commission expenses | 1,779 | 1,273 | |
Taxes and dues | 453 | 373 | |
Amortization of goodwill | 197 | 195 | |
Other | 1,962 | 1,616 | |
Total selling, general and administrative expenses | 25,410 | 21,162 | |
Operating profit | 14,315 | 1,335 | |
Non-operating income | |||
Interest income | 46 | 30 | |
Dividend income | - | 222 | |
Rent Income for house | 258 | 238 | |
Advertising medium income | 10 | 8 | |
Other | 64 | 115 | |
Total non-operating income | 380 | 615 | |
Non-operating expenses | |||
Interest expenses | 1 | 1 | |
Foreign exchange losses | 60 | 42 | |
Rental expenses | 123 | 114 | |
Other | 7 | 11 | |
Total non-operating expenses | 192 | 170 | |
Ordinary profit | 14,502 | 1,780 |
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(Millions of yen) | |||
Three months ended | Three months ended | ||
May 31, 2019 | May 31, 2020 | ||
Extraordinary income | |||
Gain on sales of non-current assets | - | 1 | |
Total extraordinary income | - | 1 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 20 | 33 | |
Impairment loss | 13 | 3 | |
Total extraordinary losses | 34 | 37 | |
Profit before income taxes | 14,467 | 1,744 | |
Income taxes - current | 4,555 | 686 | |
Income taxes - deferred | (2) | (56) | |
Total income taxes | 4,552 | 630 | |
Profit | 9,915 | 1,114 | |
Profit attributable to non-controlling interests | 103 | 56 | |
Profit attributable to owners of parent | 9,811 | 1,058 |
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Consolidated statements of comprehensive income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
May 31, 2019 | May 31, 2020 | |
Profit | 9,915 | 1,114 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (1) | 1,969 |
Foreign currency translation adjustment | (516) | (2,131) |
Total other comprehensive income | (517) | (162) |
Comprehensive income | 9,397 | 952 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 9,293 | 909 |
Comprehensive income attributable to non-controlling | 103 | 42 |
interests | ||
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ABC-MART Inc. published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2020 06:05:10 UTC