Scheduled date of filing of quarterly report: July 11, 2022
Preparation of supplementary materials for quarterly financial results: Yes
Holding of quarterly financial results briefing: Yes (for institutional investors and analysts)
(Amounts in millions of yen rounded down to the nearest million yen)
1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending February 2023 (March 1, 2022 - May 31, 2022)
(1) Consolidated Operating Results (cumulative)
Operating revenue
Operating income
Ordinary income
Net income attributable
to owners of parent
Million yen
%
Million yen
%
Million yen
%
Million yen
%
Three months ended May 31, 2022
96,167
26.2
13,092
21.0
10,845
22.0
6,226
(29.9)
Three months ended May 31, 2021
76,207
44.4
10,822
337.9
8,888
744.9
8,879
－
(Note) Comprehensive income: Three months ended May 31, 2022: ¥25,425 million (7.2%) Three months ended May 31, 2021: ¥23,719 million (-%)
Net income per share
Net income per share (diluted)
Yen
Yen
Three months ended May 31, 2022
27.36
27.36
Three months ended May 31, 2021
39.02
39.01
(2) Consolidated Financial Position
Total assets
Net assets
Equity ratio
Million yen
Million yen
%
May 31, 2022
1,557,471
445,464
27.9
February 28, 2022
1,463,256
426,931
28.5
(Reference) Equity:
May 31, 2022: ¥434,511 million
February 28, 2022: ¥416,455 million
2. Dividends
Annual Dividend
First quarter-end
First half-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Year ended February 28, 2022
－
25.00
－
25.00
50.00
Year ending February 28, 2023
－
Year ending February 28, 2023 (projection)
25.00
－
25.00
50.00
(Note) Revisions to dividend forecast announced recently: None
3. Consolidated Earnings Projections for the Year Ending February 28, 2023 (March 1, 2022 - February 28, 2023)
(Percentages represent year-on-year changes)
Net income
Net income per
Operating revenue
Operating income
Ordinary income
attributable to
share
owners of parent
Million yen
%
Million yen
%
Million yen
%
Million yen
%
Yen
First half, FY2022
196,500
－
24,700
25.5
20,000
23.5
8,000
(37.7)
35.15
Full-year
404,000
－
55,500
45.2
45,500
39.8
23,000
19.3
101.07
(Notes) 1. Revisions to earnings forecast announced recently: None
2. Beginning with the fiscal year ending February 28, 2023, the Company will adopt Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), etc. The consolidated earnings forecast above is based on this standard. Since operating revenue has been affected by the adoption of this standard, we have not shown the percentage change compared with the previous period. Operating income, ordinary income, and net income attributable to owners of parent have not been affected by the application of the standard. Estimating results for the fiscal year ending February 28, 2023 before the adoption of this standard, we expect operating revenue to increase 12.8% for the first half and 13.3% for the full year.
Notes
Material changes in consolidated subsidiaries during the period (changes in specific subsidiaries resulting in a change in the scope of consolidation): None
Application of special accounting methods in the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes of accounting-based estimates, revisions & restatements
Changes in accounting policies due to changes in accounting standards, etc.: Yes
Changes in accounting policies other than the above: None
Changes in accounting estimates: None
Revisions and restatements: None
(Note) For more information, see 2. Quarterly Consolidated Financial Statements and Notes (4) Notes to the Quarterly Consolidated Financial Statements (Changes in accounting policies) on P.18
(4) Number of shares issued and outstanding (common stock)
[1]
Number of shares outstanding at period-
Three months ended
227,548,939
Year ended
227,548,939
end (including treasury stock)
May 31, 2022
February 28, 2022
[2]
Treasury stock at period-end
Three months ended
4,017
Year ended
3,997
May 31, 2022
February 28, 2022
[3]
Average number of shares during the
Three months ended
227,544,939
Three months ended
227,542,950
period (quarterly cumulative)
May 31, 2022
May 31, 2021
* The summary of quarterly financial results is exempt from quarterly review procedures.
* Explanations and other special notes concerning the appropriate use of earnings projections (Cautionary statement regarding forward-looking statements, etc.)
The forward-looking statements, such as earnings projections, included in these materials are based on information currently available to the Company and certain assumptions it deems reasonable. They do not constitute a promise of future performance by the Company. Moreover, actual performance may vary considerably due to a variety of factors. See 1. Qualitative Information on Quarterly Financial Performance (3) Explanation of Consolidated Earnings Projections and Other Projections on P.12 of the accompanying materials for assumptions used in earnings projections and matters to note when using earnings projections.
(Procedures for obtaining supplementary information on financial results)
The Company is scheduled to hold a briefing for institutional investors and analysts on July 6, 2022. The materials handed out at this briefing will be posted on the Company's website on July 5, 2022, and an audio recording of the briefing will be made available on the Company's website soon after the briefing has ended.
Accompanying Materials ― Contents
1. Qualitative Information on Quarterly Financial Performance
2
(1)
Explanation of Operating Results
2
(2)
Explanation of Financial Position
12
(3)
Explanation of Consolidated Earnings Projections and Other Projections
12
2. Quarterly Consolidated Financial Statements and Notes
13
(1)
Quarterly Consolidated Balance Sheets
13
(2)
Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
15
Quarterly Consolidated Statements of Income
For the three months ended May 31, 2021 and May 31, 2022
15
Quarterly Consolidated Statements of Comprehensive Income
For the three months ended May 31, 2021 and May 31, 2022
16
(3)
Quarterly Consolidated Statement of Cash Flows
17
(4)
Notes to the Quarterly Consolidated Financial Statements
18
Notes on the going concern assumption
18
Notes on significant changes in shareholders' equity
18
Changes in major consolidated subsidiaries during the period under review
18
Changes in accounting policies
18
Supplementary information
19
Segment and other information
19
Significant subsequent events
20
- 1 -
1. Qualitative Information on Quarterly Financial Performance
Explanation of Operating Results
1) Explanation of consolidated results of operations
AEON MALL Co., Ltd. is a Life Design Developer (Note), creating the future of community living as we pursue our basic principle that the customer comes first. Under this management philosophy, we defined our corporate activities as Heartful Sustainable. In this way, we contribute to the development and revitalization of communities and society as a corporate citizen, striving to achieve sustainable societies through various initiatives.
We develop malls localized to the characteristics of each community we serve in Japan and around the world, contributing to better individual lifestyles and community growth. Through efforts in co-creation with customers, communities, partner companies, shareholders, and investors, we will continue to provide solutions to regional and social issues, establishing our position through social infrastructure functions to be central facilities for local communities.
(Note) Our definition of Life Design extends beyond the framework of the shopping mall. Life Design addresses functions associated with different customer life stages, including not only shopping, but also interaction with other people, cultural development, and other features contributing to future lifestyles.
We recorded higher revenue and profit for the three months ended May 31, 2022 compared to the same period in the previous consolidated fiscal year. Operating revenue amounted to ¥96,167 million (+26.2% year on year), while operating income amounted to ¥13,092 million (+21.0%), ordinary income amounted to ¥10,845 million (+22.0%), and quarterly net income attributable to owners of parent amounted to ¥6,226 million (-29.9% year on year). Beginning with the consolidated first quarter, we adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), which has had the effect of increasing operating revenue by ¥10,711 million. We estimate operating revenue results for the three months ended May 31, 2022 would have been ¥85,455 million (+12.1%) before the adoption of this standard. Fixed costs for the fiscal year amounted to ¥747 million stemming from shortened business hours and temporary closures caused by COVID-19 (¥1,561 million in the previous consolidated fiscal year).
Operating revenue, operating income, ordinary income, and net income attributable to shareholders of the parent company were +19.2%, -13.5%,-15.7%, and -22.1% compared to the results recorded during the first quarter of the consolidated fiscal year ended February 28, 2020, which was not impacted by COVID-19 ("FY2019" below).
◆Consolidated Earnings
(Million yen)
FY2021 Q1
FY2022 Q1
Change
[YoY]
Operating revenue
76,207
96,167
+19,959
[+26.2%]
Operating income
10,822
13,092
+2,269
[+21.0%]
Ordinary income
8,888
10,845
+1,957
[+22.0%]
Net income attributable to owners of parent
8,879
6,226
(2,652)
[-29.9%]
(Reference) Results vs. three months ended May 31, 2019
(Million yen)
FY2019 Q1
FY2022 Q1
Change
(Vs. FY2019)
Operating revenue
80,690
96,167
+15,476
[+19.2%]
Operating income
15,137
13,092
(2,045)
[-13.5%]
Ordinary income
12,862
10,845
(2,017)
[-15.7%]
Net income attributable to owners of parent
7,991
6,226
(1,764)
[-22.1%]
- 2 -
2) Explanation of business performance by segment
◆Earnings by Segment
(Million yen)
Operating Revenue
Segment Income (Loss)
FY2021 Q1
FY2022 Q1
Change
FY2021 Q1
FY2022 Q1
Change
[YoY]
[YoY]
China
10,327
12,820
+2,492
2,299
2,426
+126
[+24.1%]
[+5.5%]
Vietnam
2,200
2,680
+479
537
765
+227
[+21.8%]
[+42.3%]
Cambodia
786
1,104
+318
172
250
+78
[+40.4%]
[+45.8%]
Indonesia
867
1,242
+374
(216)
(263)
(46)
[+43.2%]
[－]
Other
－
－
－
(12)
(3)
+8
[－]
Overseas
14,182
17,847
+3,664
2,780
3,175
+395
[+25.8%]
[+14.2%]
Japan
62,024
78,319
+16,295
8,035
9,909
+1,874
[+26.3%]
[+23.3%]
Adjustment
－
－
－
6
6
－
[－]
[+0.0%]
Total
76,207
96,167
+19,959
10,822
13,092
+2,269
[+26.2%]
[+21.0%]
(Reference) Results vs. three months ended May 31, 2019
(Million yen)
Operating Revenue
Segment Income (Loss)
FY2019 Q1
FY2022 Q1
Change
FY2019 Q1
FY2022 Q1
Change
(Vs. FY2019)
(Vs. FY2019)
China
8,988
12,820
+3,831
1,584
2,426
+842
[+42.6%]
[+53.2%]
Vietnam
1,206
2,680
+1,473
321
765
+443
[+122.2%]
[+137.7%]
Cambodia
968
1,104
+136
283
250
(33)
[+14.1%]
[-11.6%]
Indonesia
951
1,242
+290
103
(263)
(366)
[+30.5%]
[－]
Other
－
－
－
－
(3)
(3)
[－]
Overseas
12,115
17,847
+5,732
2,293
3,175
+882
[+47.3%]
[+38.5%]
Japan
68,575
78,319
+9,744
12,837
9,909
(2,927)
[+14.2%]
[-22.8%]
Adjustment
－
－
－
6
6
－
[－]
[+0.0%]
Total
80,690
96,167
+15,476
15,137
13,092
(2,045)
[+19.2%]
[-13.5%]
- 3 -
This is an excerpt of the original content. To continue reading it, access the original document here.
Aeon Mall Co. Ltd. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 06:12:11 UTC.
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