1) Consolidated Financial Results

(Unit: millions of yen)

FY2020

FY2021

3Q

Full Term

3Q

Full Term

Forecast

Operating revenue

496,663

679,778

496,093

679,100

(YoY)

90.3%

91.3%

99.9%

99.9%

Operating profit

25,045

35,781

23,868

34,800

(YoY)

118.3%

112.2%

95.3%

97.3%

Ordinary profit

25,329

36,078

23,743

34,600

(YoY)

119.6%

112.8%

93.7%

95.9%

Profit attributable to owners of parent

16,185

23,053

16,371

22,300

(YoY)

118.2%

115.5%

101.2%

96.7%

Earnings per share

¥225.87

¥321.72

¥228.88

¥311.81

Total assets

483,851

489,692

477,206

Net assets

238,727

245,411

255,492

Net assets per share

¥3,150.02

¥3,244.56

¥3,382.29

Equity ratio

46.7%

47.5%

50.7%

Total number of issued shares at the

71,665,200

71,665,200

71,665,200

end of period (incl. treasury shares)

Number of treasury shares at the

7,731

8,106

187,300

end of period

Average number of shares during

71,657,724

71,657,606

71,529,614

the period (excl. treasury shares)

Number of consolidated subsidiaries

15

15

17

Number of equity-method affiliates

5

5

4

2) Non-consolidated Financial Results

(Unit: millions of yen)

FY2020

FY2021

3Q

Full Term

3Q

Full Term

Forecast

Operating revenue

462,696

634,583

463,509

635,100

(YoY)

89.5%

90.6%

100.2%

100.1%

Operating profit

19,788

29,128

18,973

28,300

(YoY)

117.3%

111.9%

95.9%

97.2%

Ordinary profit

20,082

29,420

19,147

28,400

(YoY)

118.2%

112.1%

95.3%

96.5%

Profit

12,055

17,461

13,179

18,400

(YoY)

107.8%

102.4%

109.3%

105.4%

Dividends per share

-

¥83.00

-

¥86.00

Total assets

415,551

423,212

414,137

Net assets

183,704

189,151

195,386

Equity ratio

44.2%

44.7%

47.2%

2. Consolidated Statements of Income

Consolidated

(Unit: millions of yen)

FY2020

FY2021

FY2020

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

Amount

% of Sales

Amount

% of Sales

YoY

% of Sales

Operating revenue

496,663

-

496,093

-

99.9%

679,778

-

Net sales

471,234

100.0%

471,161

100.0%

100.0%

645,672

100.0%

Gross profit

107,913

22.9%

106,745

22.7%

98.9%

147,467

22.8%

Operating revenue

25,428

5.4%

24,931

5.3%

98.0%

34,105

5.3%

Operating gross profit

133,341

28.3%

131,676

27.9%

98.8%

181,573

28.1%

Selling, general and

108,295

23.0%

107,808

22.9%

99.5%

145,791

22.6%

administrative expenses

Personnel expenses

50,011

10.6%

49,948

10.6%

99.9%

67,805

10.5%

Depreciation

11,289

2.4%

11,295

2.4%

100.1%

15,243

2.4%

Amortization of goodwill

581

0.1%

399

0.1%

68.7%

737

0.1%

Rental expenses

8,546

1.8%

8,482

1.8%

99.2%

11,526

1.8%

Utilities expenses

5,899

1.3%

6,043

1.3%

102.4%

7,482

1.2%

Advertising expenses

7,178

1.5%

7,128

1.5%

99.3%

9,643

1.5%

Other

24,788

5.3%

24,511

5.2%

98.9%

33,352

5.2%

Operating profit

25,045

5.3%

23,868

5.1%

95.3%

35,781

5.5%

Non-operating income

1,536

0.3%

1,178

0.3%

76.7%

1,893

0.3%

Interest and dividend income

186

0.0%

168

0.0%

90.6%

243

0.0%

Non-operating expenses

1,253

0.3%

1,304

0.3%

104.1%

1,597

0.2%

Interest expenses

540

0.1%

428

0.1%

79.3%

700

0.1%

Ordinary profit

25,329

5.4%

23,743

5.0%

93.7%

36,078

5.6%

Extraordinary income

3,139

0.7%

1,015

0.2%

32.3%

3,610

0.6%

Extraordinary losses

3,287

0.7%

618

0.1%

18.8%

4,835

0.7%

Profit before income taxes

25,181

5.3%

24,140

5.1%

95.9%

34,852

5.4%

Total income taxes

7,581

1.6%

7,527

1.6%

99.3%

10,306

1.6%

Profit attributable to non-controlling interests

1,415

0.3%

241

0.1%

17.1%

1,493

0.2%

Profit attributable to owners of parent

16,185

3.4%

16,371

3.5%

101.2%

23,053

3.6%

1) Segment Information

FY2020

FY2021

FY2020

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

Amount

% of Total

Amount

% of Total

YoY

Amount

% of Total

(Operating revenue)

Retail operations

481,504

96.9%

481,316

97.0%

100.0%

659,977

97.1%

Retail-peripheral operations

70,328

14.2%

71,916

14.5%

102.3%

94,786

13.9%

Other

4,115

0.8%

3,789

0.8%

92.1%

5,297

0.8%

Adjustment

-59,285

-11.9%

-60,929

-12.3%

-

-80,283

-11.8%

Total

496,663

100.0%

496,093

100.0%

99.9%

679,778

100.0%

(Operating profit)

Retail operations

21,429

85.6%

19,987

83.7%

93.3%

31,217

87.2%

Retail-peripheral operations

2,764

11.0%

3,254

13.6%

117.7%

3,458

9.7%

Other

899

3.6%

786

3.3%

87.5%

1,172

3.3%

Adjustment

-47

-0.2%

-159

-0.7%

-

-67

-0.2%

Total

25,045

100.0%

23,868

100.0%

95.3%

35,781

100.0%

2) Financial Results of Major Subsidiaries

(Year-on-year in parentheses)

Company

Business / Segment

FY2020

FY2021

FY2020

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

YOU-ME CARD CO., LTD.

Finance

Operating revenue

7,057

6,866

( 97.3%)

9,393

Retail-peripheral operations

Operating profit

1,584

1,700

( 107.4%)

2,060

IZUMI TECHNO Co., Ltd.

Store management

Operating revenue

10,164

11,141

( 109.6%)

13,882

Retail-peripheral operations

Operating profit

1,194

1,353

( 113.3%)

1,549

IZUMI FOOD SERVICE CO., LTD.

Food services

Operating revenue

3,301

3,819

( 115.7%)

4,626

Retail-peripheral operations

Operating profit

-284

-17

(-)

-303

Youme Mart Kumamoto Co., Ltd.

Retail

Operating revenue

20,662

20,780

( 100.6%)

27,975

Retail operations

Operating profit

958

577

( 60.2%)

1,245

Youme Mart Kitakyushu Co., Ltd.

Retail

Operating revenue

21,389

20,694

( 96.7%)

28,715

Retail operations

Operating profit

750

629

( 83.9%)

1,033

YOURS Co., Ltd.

Retail

Operating revenue

18,003

17,415

( 96.7%)

24,094

Retail operations

Operating profit

434

226

( 52.2%)

582

Consolidated

3) Change in Consolidated Operating Profit by Quarter

(Unit: millions of yen)

FY2019

FY2020

FY2021

YoY

YoY

YoY

1Q

(Mar-May)

6,592

81.5%

6,305

95.6%

7,832

124.2%

2Q

(Jun-Aug)

7,570

87.0%

10,152

134.1%

8,137

80.2%

First half total (Mar-Aug)

14,163

84.4%

16,457

116.2%

15,970

97.0%

3Q

(Sep-Nov)

7,009

102.7%

8,588

122.5%

7,898

92.0%

Three quarters total (Mar-Nov)

21,173

89.7%

25,045

118.3%

23,868

95.3%

4Q

(Dec-Feb)

10,715

91.9%

10,735

100.2%

-

-

Annual total (Mar-Feb)

31,888

90.4%

35,781

112.2%

Forecast

34,800

97.3%

3. Consolidated Balance Sheets

(Unit: millions of yen)

As of Feb. 28, 2021

As of Nov. 30, 2021

Amount

% of Total

Amount

% of Total

Change

Total assets

489,692

100.0%

477,206

100.0%

- 12,486

Cash and deposits

25,306

5.2%

9,390

2.0%

- 15,916

Notes and accounts receivable - trade

42,497

8.7%

48,268

10.1%

+ 5,770

Merchandise and finished goods

21,661

4.4%

23,269

4.9%

+ 1,608

Property, plant and equipment

330,539

67.5%

331,587

69.5%

+ 1,048

Leasehold and guarantee deposits

16,909

3.5%

15,966

3.3%

- 943

Investment securities

9,876

2.0%

8,734

1.8%

- 1,142

Other

42,900

8.8%

39,989

8.4%

- 2,911

Liabilities

244,281

49.9%

221,714

46.5%

- 22,566

Notes and accounts payable - trade

47,367

9.7%

37,539

7.9%

- 9,827

Interest-bearing liabilities

109,414

22.3%

105,759

22.2%

- 3,654

Other

87,499

17.9%

78,415

16.4%

- 9,084

Net assets

245,411

50.1%

255,492

53.5%

+ 10,080

Treasury shares

-30

- 0.0%

-799

- 0.2%

- 769

Other

232,526

47.5%

242,558

50.8%

+ 10,031

Non-controlling interests

12,915

2.6%

13,733

2.9%

+ 817

*Change in the number of issued shares

FY2020 (Mar-Feb)

FY2021 3Q

Total number of issued shares at the beginning of the period

71,665,200

71,665,200

at the end of the period (A)

71,665,200

71,665,200

Treasury shares, etc.

at the beginning of the period

7,346

8,106

at the end of the period (B)

8,106

187,300

(Acquired during the period)

760

200,455

(Share-based remuneration)

0

21,261

(Cancelled during the period)

0

0

A－B

71,657,094

71,477,900

(Average during the period)

71,657,606

71,529,614

4. Consolidated Statements of Cash Flows

(Unit: millions of yen)

FY2020

FY2021

FY2020

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

Cash flows from operating activities

+ 14,550

+ 7,462

+ 48,320

Profit before income taxes

+ 25,181

+ 24,140

+ 34,852

Non-cash loss/gain (depreciation, etc.)

+ 12,524

+ 12,632

+ 18,311

Increase/decrease in claims and obligations related to operating activities

- 14,477

- 18,500

+ 6,045

Income taxes and interest income

- 9,378

- 13,038

- 9,543

Other

+ 700

+ 2,229

- 1,345

Cash flows from investing activities

- 4,592

- 11,757

- 6,633

Capital investment related

- 11,640

- 13,691

- 13,921

Other

+ 7,048

+ 1,934

+ 7,287

Cash flows from financing activities

- 9,716

- 11,622

- 25,361

Interest-bearing liabilities related

- 3,892

- 4,566

- 19,536

Other

- 5,824

- 7,055

- 5,825

Increase/decrease in cash and cash equivalents

+ 241

- 15,916

+ 16,324

Non-Consolidated

3) YoY Sales at

FY2020

FY2021

FY2020

Existing Stores

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

(Excluding X-SELL

Lifestyle

76.0%

99.5%

77.6%

Department)

Foods

101.3%

99.0%

101.3%

Directly managed stores total

92.8%

99.1%

93.5%

Tenants

82.4%

105.3%

84.2%

Total

88.6%

101.6%

89.7%

Chugoku

92.3%

100.6%

93.0%

Kyushu

85.9%

101.3%

87.2%

Number of customers

88.8%

99.9%

89.4%

Average spent per customer

104.5%

99.2%

104.5%

Average spent per item

96.8%

101.7%

97.4%

Number of purchases

107.9%

97.6%

107.3%

4) Gross Profit Ratio

FY2020

FY2021

FY2020

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

Lifestyle

35.4%

35.5%

35.6%

Foods

27.3%

28.0%

27.7%

Directly managed stores total

29.6%

30.2%

29.9%

Tenants

9.0%

8.5%

8.6%

X-SELL Department

26.3%

26.6%

25.8%

Product supply, etc.

0.5%

0.4%

0.5%

Total

19.4%

19.3%

19.5%

(Loss rate)

Lifestyle

6.2%

7.3%

6.3%

Foods

2.5%

2.3%

2.5%

Directly managed stores total

3.6%

3.7%

3.5%

(Inventory turnover in days)

Lifestyle

80.4

73.2

79.3

Foods

9.3

9.1

9.2

Directly managed stores total

29.3

27.1

28.5

*From March 2021, the Company implemented organizational changes, such as combining and reorganizing the Clothing Department and the

Household Goods Department, and making them the Lifestyle Division.

Accordingly, results for FY2020 3Q and FY2020 Full Term have been adjusted to figures after these organizational changes.

5) Average Number of

FY2020

FY2021

FY2020

Employees during the

3Q (Mar-Nov)

3Q (Mar-Nov)

Full Term (Mar-Feb)

Period

Full employees

2,983

2,925

2,968

Semi-full employees (8-hour equivalent)

5,948

5,739

5,971

Part-time employees (8-hour equivalent)

3,911

3,613

3,973

Total

12,842

12,277

12,912

(% of Total)

Full employees

23.2%

23.8%

23.0%

Semi-full employees (8-hour equivalent)

46.3%

46.7%

46.2%

Part-time employees (8-hour equivalent)

30.5%

29.4%

30.8%

Total

100.0%

100.0%

100.0%

(Indicators: Directly managed stores and X-SELL Department)

Net sales per employee

18,893 thousand yen

19,326 thousand yen

25,815 thousand yen

Gross profit per employee

5,576 thousand yen

5,807 thousand yen

7,683 thousand yen

Personnel expenses per employee

2,759 thousand yen

2,872 thousand yen

3,720 thousand yen

Personnel expenses/sales ratio

14.6%

14.9%

14.4%

Personnel expenses/gross profit ratio

49.5%

49.5%

48.4%