October 11, 2017
This document is an English translation of a statement written initially in Japanese. The Japanese original should be considered as the primary version.
FamilyMart UNY Holdings Co., Ltd. (Code No. 8028, Tokyo Stock Exchange and Nagoya Stock Exchange, 1st Section)
Representative Director and President: Koji Takayanagi
Contact: Hiroshi Iwasaki General Manager, Public Relations Department
Announcement in Deferred Tax Assets and Relation to Recording of Other Expenses (IFRS) and Revision of Consolidated Performance ForecastsFamilyMart UNY Holdings Co., Ltd. (hereinafter referred to as "the Company"), herewith announces that, at a meeting of the Board of Directors held today, it was decided to revise the consolidated performance forecasts for the fiscal year ending February 28, 2018, that were announced on April 11, 2017. This decision was made based on recent performance trends as well as the fact that the Company expects to deferred tax assets and record other expenses (calculated in accordance with International Financial Reporting Standards (IFRS)). There has been no change to the previously released dividend forecasts.
Recording of Deferred Tax Assets
At a meeting of the Board of Directors held today, it was decided to adopt the consolidated tax payment system effective from the fiscal year ending February 28, 2019. Deferred tax assets are expected to be recorded in conjunction with the adoption of this system, and income taxes-deferred of approximately ¥16.0 billion will also be recorded. As a result, full-year profit attributable to owners of the parent will increase in the fiscal year ending February 28, 2018.
Recording of Other Expenses (IFRS)
Other expenses (IFRS) amounting to approximately ¥16.0 billion will be recorded due to factors including impairment losses on store assets in the convenience store business.
Performance Forecast Revisions
Revisions to Consolidated Performance Forecasts for the Fiscal Year Ending February 28, 2018
Gross operating revenues
Operating profit
Profit before income taxes
Profit attributable to owners
of the parent
Basic earnings per share
Previous forecast (A)
¥ Million 1,237,300
¥ Million 41,200
¥ Million 40,900
¥ Million 24,000
¥ 189.51
Revised forecast (B)
1,242,000
32,900
33,100
31,000
244.79
Difference (B-A)
4,700
(8,300)
(7,800)
7,000
Change (%)
0.4%
- 20.1%
- 19.1%
29.2%
(Reference) Performance from the fiscal year ended February 28, 2017*
843,815
32,976
33,694
21,585
195.07
* In the first half ended August 31, 2017, the provisional accounting treatments related to the management integration were finalized, and figures for the fiscal year ended February 28, 2017, reflect a material revision to the initial allocation of acquisition cost under the provisional accounting treatments.
Reason for Revision
As described in the news release entitled "Notice Regarding Revision of Performance Forecasts" issued on September 28, 2017, consolidated performance in the six-month period ended August 31, 2017, exceeded initial forecasts. However, operating profit and profit before income taxes are expected to fall below the previously released forecasts due to the recording of other expenses (IFRS) described in 2. above.
In addition, the recording of deferred tax assets in conjunction with the adoption of the consolidated tax payment system described in 1. above is anticipated to cause full-year profit attributable to owners of the parent to be ¥7.0 billion higher than previously forecast.
Note: The forecasts contained in this news release are based on information available at the time of its issuance as well as certain assumptions that have been judged to be rational. The Company does not assure that these forecasts will be accomplished. It is possible that actual performance may differ materially from these forecasts due to various factors.
FamilyMart UNY Holdings Co. Ltd. published this content on 11 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 October 2017 06:09:04 UTC.
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