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ENGLISH TRANSLATION OF JAPANESE-LANGUAGE DOCUMENT
This is an English translation of the original Japanese-language document and is provided for convenience only. In all cases, the Japanese-language original shall prevail.
August 4, 2022
Consolidated Financial Results
for the Three Months Ended June 30, 2022
Company name: | Seibu Holdings Inc. |
Listing: | Tokyo Stock Exchange |
Securities code: | 9024 |
URL: | https://www.seibuholdings.co.jp/en/ |
Representative: | GOTO Takashi, President and CEO |
Inquiries: | TATARA Yoshihiro, General Manager of Corporate Communication |
Tel: +81-3-6709-3112 |
Scheduled date to file quarterly securities report: | August 5, 2022 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary results briefing material on quarterly financial results: Yes | |
Holding of quarterly financial results presentation meeting: | Yes (teleconference for institutional |
investors and analysts) |
(Note: Millions of yen with fractional amounts truncated, unless otherwise noted)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
(1) Consolidated Operating Results (cumulative)
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
June 30, 2022 | 103,432 | 12.7 | 7,624 | - | 7,509 | - | 3,668 | - | ||||||||
June 30, 2021 | 91,763 | 38.3 | (5,995) | - | (7,768) | - | (8,871) | - | ||||||||
Note: | Comprehensive income | |||||||||||||||
For the three months ended June 30, 2022: | ¥8,682 million | [ | -%] | |||||||||||||
For the three months ended June 30, 2021: | ¥(4,810) million | [ | -%] | |||||||||||||
Basic earnings per | Diluted earnings | |||||||||||||||
share | per share | |||||||||||||||
Three months ended | Yen | Yen | ||||||||||||||
June 30, 2022 | 12.21 | 12.20 | ||||||||||||||
June 30, 2021 | (29.57) | - | ||||||||||||||
Note: Diluted earnings per share for the three months ended June 30, 2021 are not noted even though the Company has issued potential shares, because the per share data is a loss per share.
(2) Consolidated Financial Position
Total assets | Net assets | Equity-to-asset ratio | |
As of | Millions of yen | Millions of yen | % |
June 30, 2022 | 1,640,708 | 393,723 | 19.4 |
March 31, 2022 | 1,703,442 | 387,217 | 18.3 |
Reference: Equity (Net assets − Share acquisition rights − Non-controlling interests)
As of June 30, 2022: | ¥318,159 million |
As of March 31, 2022: | ¥311,141 million |
Seibu Holdings Inc.
2. Cash Dividends
Cash dividends per share | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||
Yen | Yen | Yen | Yen | Yen | ||
Fiscal year ended | - | 0.00 | - | 5.00 | 5.00 | |
March 31, 2022 | ||||||
Fiscal year ending | - | |||||
March 31, 2023 | ||||||
Fiscal year ending | ||||||
March 31, 2023 | 5.00 | - | 5.00 | 10.00 | ||
(Forecast) | ||||||
Note: Revisions to the forecast most recently announced: None
3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
(Percentages indicate year-on-year changes)
Operating revenue | Operating profit | Ordinary profit | ||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
Six months ending | 214,000 | 9.8 | 15,000 | - | 11,000 | - | ||
September 30, 2022 | ||||||||
Fiscal year ending | 443,000 | 11.6 | 31,000 | - | 25,000 | - | ||
March 31, 2023 | ||||||||
Profit attributable to owners of | Basic earnings per share | |||||||
parent | ||||||||
Millions of yen | % | Yen | ||||||
Six months ending | 5,000 | - | 16.65 | |||||
September 30, 2022 | ||||||||
Fiscal year ending | 82,000 | 671.9 | 273.14 | |||||
March 31, 2023 | ||||||||
Note: Revisions to the forecast most recently announced: None |
Seibu Holdings Inc.
- Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Application of special accounting for preparing quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatements of prior period financial statements
a. Changes in accounting policies due to revisions to accounting standards and other regulations: None
b. Changes in accounting policies due to other reasons: | None |
c. Changes in accounting estimates: | None |
d. Restatements of prior period financial statements: | None |
- Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022 | 323,462,920 shares |
As of March 31, 2022 | 323,462,920 shares |
b. Number of treasury shares at the end of the period
As of June 30, 2022 | 22,909,038 shares |
As of March 31, 2022 | 23,008,494 shares |
- Average number of outstanding shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022 | 300,516,687 shares |
Three months ended June 30, 2021 | 300,010,056 shares |
Notes: 1. The Company's shares held by the share-based benefit trusts are included in the number of treasury shares at the end of the period (667,900 shares as of June 30, 2022 and 752,700 shares as of March 31, 2022). Also, the Company's shares held by the share-based benefit trusts are included in treasury shares that are deducted for calculation of the average number of outstanding shares during the period (cumulative from the beginning of the fiscal year) (705,119 shares for the three months ended June 30, 2022 and 1,197,070 shares for the three months ended June 30, 2021).
2. The portion attributable to the Company of the treasury shares (shares of the Company) held by equity-method associates is included in the number of treasury shares at the end of the period (21,998,594 shares as of June 30, 2022 and 21,998,594 shares as of March 31, 2022). Furthermore, the portion attributable to the Company of the treasury shares (shares of the Company) held by equity-method associates is included in treasury shares that are deducted in the calculation of the average number of outstanding shares during the period (cumulative from the beginning of the fiscal year) (21,998,594 shares for the three months ended June 30, 2022 and 21,998,594 shares for the three months ended June 30, 2021).
- Quarterly financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
-
Proper use of earnings forecasts, and other special notes
The forward-looking statements, including earnings forecasts, contained in these materials are based on information available to the Company at the announcement of these materials and on certain assumptions pertaining to factors of uncertainty. These statements may differ from the actual business results.
For further details regarding earnings forecasts (consolidated earnings forecasts for the fiscal year ending March 31, 2023), please refer to page 6 of the Attached Materials, "(2) Explanation of consolidated earnings forecasts and other forward-looking statements" under "1. Qualitative Information Regarding Financial Results for the Three Months Ended June 30, 2022."
Seibu Holdings Inc. | ||
Contents of Attached Materials | ||
1. Qualitative Information Regarding Financial Results for the Three Months Ended | ||
June 30, 2022 ........................................................................................................................................... | ||
Explanation of operating results........................................................................................................ | ||
(2) | Explanation of consolidated earnings forecasts and other forward-looking statements .............. | 6 |
(3) | Impact, etc. associated with COVID-19 ............................................................................................ | 6 |
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto.................................. | 8 | |
(1) | Quarterly consolidated balance sheet ............................................................................................... | 8 |
(2) | Quarterly consolidated statements of income and comprehensive income.................................. | 10 |
Quarterly consolidated statement of income (cumulative) ........................................................... | 10 | |
Quarterly consolidated statement of comprehensive income (cumulative) ................................. | 11 | |
(3) | Notes to quarterly consolidated financial statements .................................................................... | 12 |
Notes on premise of going concern.................................................................................................. | 12 | |
Notes on significant changes in the amount of shareholders' equity............................................ | 12 | |
Quarterly consolidated statement of income.................................................................................. | 12 | |
Segment information ........................................................................................................................ | 13 |
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Seibu Holdings Inc.
1. Qualitative Information Regarding Financial Results for the Three Months Ended June 30, 2022
- Explanation of operating results
In the three months ended June 30, 2022, having taken stringent measures to prevent the spread of COVID-19, the Japanese economy experienced the progressing normalization of economic and social activities, and there are expectations for an economic recovery through the effects of various policies. However, with rising raw materials prices and supply-side restrictions amid concerns over the effects of prolonged conflict in Ukraine and restrictions on economic activities in China, we must be fully aware of the downside risk due to fluctuations in the financial and capital markets.
Under these conditions, in the three months ended June 30, 2022, based on the "FY2021-FY2023 Seibu Group's Medium-term Management Plan," which is currently in its second year, we focused on the themes of "Looking ahead to our vision for the Group in a post-COVID-19 society, overcoming the impact of COVID-19 and creating a pathway for rapid growth" and advanced initiatives with a three- point framework comprising "management reforms," "digital management," and "sustainability."
In "management reforms," we carried out "management reforms of the Urban Transportation and Regional business" in addition to the themes of "asset-light business operation," "reducing the break- even point," and "service transformation to suit the new normal." As part of these reforms, for "asset- light business operation," based on the basic agreement that we concluded on February 10, 2022 with GIC Private Limited's affiliate Reco Pine Private Limited, on June 30, 2022, the Company's consolidated subsidiary SEIBU REALTY SOLUTIONS INC. concluded an agreement to transfer certain assets associated with the Hotel and Leisure business to multiple companies in which GIC Private Limited's affiliate Reco Sky Private Limited invests either directly or indirectly.
In terms of "digital management," we began using our "Group Marketing Foundation," worked to build services to expand Group customers, and renewed our accounting system.
In "sustainability," we continued to promote "Sustainability Action" with 12 key objectives in the four categories of safety, environment, community engagement, and corporate culture, in order to realize a sustainable society. In the environmental sector, starting on April 1, 2022, all the power used at "DaiyaGate Ikebukuro," a large-scale office building managed by SEIBU REALTY SOLUTIONS INC., is being covered by the power generated from "Seibu Takeyama Solar Power Station," operated by Seibu Railway Co., Ltd. (power with environmental value), realizing operation with effectively zero- CO2 emissions.
To summarize our management results for the three months ended June 30, 2022, although sales declined due to the deconsolidation of Seibu Construction Co., Ltd., the Group steadily captured increased demand with the lifting of COVID-19-related restrictions, leading to operating revenue of ¥103,432 million, up ¥11,669 million, or 12.7%, year on year. Operating profit was ¥7,624 million, an increase of ¥13,620 million from an operating loss of ¥5,995 million in the same period of the previous fiscal year, due to increased revenue and initiatives leading to reduction in fixed expenses, such as revised operations of railcars and buses, etc. and bringing operations in-house. EBITDA was a profit of ¥21,441 million, an increase of ¥14,000 million, or 188.1%, year on year.
Ordinary profit was ¥7,509 million, an increase of ¥15,278 million from an ordinary loss of ¥7,768 million in the same period of the previous fiscal year, and profit attributable to owners of parent was ¥3,668 million, an increase of ¥12,540 million from a loss attributable to owners of parent of ¥8,871 million in the same period of the previous fiscal year.
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Seibu Holdings Inc. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 06:26:04 UTC.