AEON Mall : Presentation Material FY2022 1st Quarter

Financial Results for Q1, FY2022 March 1, 2022 - May 31, 2022

July 5, 2022

Contents	1

2

Financial Results for Q1, FY2022

Financial Results for Q1, FY2022	3
Overview of Consolidated Results

■ Consolidated Statements of Income

	FY2022	FY2021	YoY Change
	Q1 Actual	Q1 Actual	Change	％
Operating revenue	96,167	76,207	+19,959	126.2
Operating costs	75,979	58,456	+17,522	130.0
Gross profit	20,188	17,750	+2,437	113.7
Selling, general and	7,096	6,928	+167	102.4
administrative expenses
Operating income	13,092	10,822	+2,269	121.0
Ordinary income	10,845	8,888	+1,957	122.0
Net income attribute	6,226	8,879	-2,652	－
to owners of parent
Net income per share (yen)	27.36	39.02	-11.66	－

FY2019	Vs. FY2019
Q1 Actual	Change		％
80,690	+15,476		119.2
58,996	+16,982		128.8
21,693	-1,505		93.1
6,555	+540		108.2
15,137	-2,045		86.5
12,862	-2,017		84.3
7,991	-1,764		77.9
35.13	-7.77		－

(Unit: ¥, Millions)

1H Plan

Progress rate

(%)

196,500 48.9

－ －

－ －

－ －

24,700 53.0

20,000 54.2

8,000 77.8

35.15－

• Despite increases in operating revenue and profit at each measure, domestic sales did not return to pre-COVID-19 levels, and operating income was -¥2.0 billion compared to fiscal 2019.
• Operating revenue and profit at each measure were generally in line with plan for the first half.
• We applied Accounting Standard for Revenue Recognition beginning this fiscal year. Before applying this standard, we estimate that operating revenue was +12.1% of the previous year.
• We recorded fixed costs of ¥0.7 billion incurred during the temporary closure period as extraordinary losses due to COVID-19.

Financial Results for Q1, FY2022	4

Change in Profit (Loss) by Segment (Vs. FY2019)

Q1											(Unit: ¥, Millions)
				Operating Revenue				Gross Profit				Operating Income
					Q1 FY2019	Vs. FY2019			Q1 FY2019	Vs. FY2019			Q1 FY2019	Vs. FY2019
					(Actual)			(Actual)			(Actual)
	Domestic Mall	72,919	62,618	10,301		16,182	18,133	-1,951		10,437	13,085	-2,647
			Existing Mall	65,029	60,689	4,340		16,121	18,114	-1,992		－	－	－
			New Mall	6,275	0	6,275		43	0	43		－	－	－
			Other	1,614	1,928	-314		16	18	-2		－	－	－
	Urban SC	5,400	5,957	-557		-92	374	-466		-527	-247	-279
Domestic Total	78,319	68,575	9,744		16,089	18,507	-2,417		9,909	12,837	-2,927
		China	12,820	8,988	3,831		3,015	2,221	794		2,426	1,584	842
		ASEAN	5,027	3,126	1,900		1,076	958	117		749	709	39
			Vietnam	2,680	1,206	1,473		911	426	485		765	321	443
			Cambodia	1,104	968	136		262	321	-58		250	283	-33
			Indonesia	1,242	951	290		-98	210	-309		-263	103	-366
			Other	－	－	－		－	－	－		-3	－	-3
Overseas Total	17,847	12,115	5,732		4,091	3,179	912		3,175	2,293	882
Adjustment	－	－	－		6	6	－		6	6	－
Domestic and	96,167	80,690	15,476		20,188	21,693	-1,505		13,092	15,137	-2,045
Overseas Total

[Comments Concerning Comparisons With FY2019 (Pre-COVID-19)]

• In Japan, the number of new cases of COVID-19 decreased gradually; however, consumer confidence did not return to the pre-COVID-19 levels, resulting in a -¥2.9 billion decrease in operating income.
• In China, sales trended downward due to the closure of certain malls as a result of the spread COVID-19; however, operating income increased +¥0.8 billion due to the shift of fixed costs in the amount of ¥0.6 billion during the temporary closure period to extraordinary losses.
• The government in Vietnam transitioned to a policy of prioritizing economic growth during the with-COVID-19 period, and consumption trends recovered. Operating income increased +0.4 billion.
• In Cambodia and Indonesia, the impact of the spread of COVID-19 is diminishing gradually; however, performance has not returned to pre- COVID-19 levels, and operating income in both countries declined.