Seven & i : Brief Summary FY2021(Revised July 1, 2021)

Brief Summary FY2021(Revised July 1, 2021)

Contents

Consolidated Results

		Ⅰ．Financial Results	P1
		Ⅱ．Major Factors for the Change	P2
		Ⅲ．Segment Information	P3
		Ⅳ．Interest-Bearing Debt & Ratings	P4
		Ⅴ．Financial Results (New Business Segment Information)	P6
		Ⅵ．Segment Information (New Business Segment Information)	P7
		Ⅶ．Interest-Bearing Debt (New Business Segment Information)	P7
		Ⅷ．Consolidated Balance Sheets	P8
		Ⅸ．Consolidated Statements of Income	P9
		Ⅹ．Consolidated Statements of Cash Flows	P10
	Financial Results and Business Performance of Major Companies
		Ⅰ．Domestic Convenience Store Operations	P11
		Ⅱ．Overseas Convenience Store Operations	P12
		Ⅲ．Superstore Operations	P13
		Ⅳ．Department Store & Specialty Store Operations	P15
		Ⅴ．Financial Services	P16
		Ⅵ．Group Strategy	P17

Ⅶ．Capital Expenditures, Depreciation and Amortization of Major Companies P18

Store Information

Ⅰ．Number of Stores and Store Openings / Closures of Major Companies	P19
Ⅱ．Store Information in Domestic / Overseas Convenience Store Operations	P20
Ⅲ．Store Information in Superstore Operations	P21
Ⅳ．Store Information in Department Store & Specialty Store Operations	P21
Ⅴ．Number of Stores by Type	P22
Ⅵ．Sales Floor Space	P22
Ⅶ．Employee and Other Information	P23

July 1, 2021 Seven & i Holdings Co., Ltd.

■ Consolidated Results

New business segments will be applied from the second quarter of FY2022. Please refer to pages 6-7for data on the new business segments.

Ⅰ．Financial Results												(Millions of yen)
				Fiscal Year Ended		Fiscal Year Ended			Fiscal Year Ended	Fiscal Year Ending
				Feb. 28, 2019			Feb. 29, 2020			Feb. 28, 2021		Feb. 28, 2022 (Forecast)
					YOY(%)			YOY(%)				YOY(%)		YOY(%)
Group's total sales			12,018,004		108.8	11,997,643	99.8			11,044,874		92.1	13,549,000	122.7
Revenues from operations			6,791,215		112.5	6,644,359	97.8			5,766,718		86.8	8,038,000	139.4
	Domestic convenience store operations		955,443		102.9		971,236	101.7			920,832		94.8	968,000	105.1
	Overseas convenience store operations	2,821,053		142.4	2,739,833	97.1			2,191,383		80.0	4,301,000	196.3
	Superstore operations			1,902,507		100.1	1,849,121	97.2			1,810,884		97.9	1,844,000	101.8
	Department store operations	592,100		90.0	577,633	97.6			425,153		73.6	468,000	110.1
	Financial services			215,007		105.9	217,367	101.1			198,927		91.5	204,000	102.5
	Specialty store operations			355,474		85.3	339,660	95.6			263,803		77.7	302,000	114.5
	Others			23,720		100.8		25,202	106.2			22,011		87.3	23,000	104.5
	Eliminations / Corporate			(74,093)		-		(75,695)		-		(66,277)		-	(72,000)	-
Operating income (loss)			411,596		105.1	424,266	103.1			366,329		86.3	380,000	103.7
	Domestic convenience store operations		246,721		100.6		256,601	104.0			234,258		91.3	247,100	105.5
	Overseas convenience store operations	92,266		116.7	102,001	110.6			98,097		96.2	114,700	116.9
	Superstore operations			21,173		99.6	21,307	100.6			29,683		139.3	23,800	80.2
	Department store operations	3,737		69.6	797	21.3			(6,248)		-	700	-
	Financial services			52,874		106.4	53,610	101.4			48,077		89.7	33,100	68.8
	Specialty store operations			6,680		-	4,690	70.2			(13,572)		-	(200)	-
	Others			2,659		72.4		1,554	58.5			1,944		125.1	2,400	123.4
	Eliminations / Corporate			(14,515)		-		(16,296)		-		(25,911)		-	(41,600)	-
Ordinary income			406,523		104.0		417,872	102.8			357,364		85.5	343,500	96.1
Special gains			15,556		116.5	8,554	55.0			10,433		122.0
Special losses			104,668		81.9		79,957	76.4			109,022		136.3
Income before income taxes			317,411		114.9	346,469	109.2			258,776		74.7
Net income attributable to owners of parent	203,004		112.1	218,185	107.5			179,262		82.2	190,000	106.0
EBITDA			655,915		105.5	674,317	102.8			626,874		93.0	738,300	117.8
ROA (%)			3.6			3.7				2.8
ROE (%)			8.2			8.5				6.8
Net income per share (EPS) (yen)	229.50		112.1		246.95	107.6			203.03		82.2	215.18	106.0
EPS before amortization of goodwill (yen)		255.70		114.4		273.64	107.0			231.39		84.6	292.54	126.4
Number of shares outstanding
Average			884,568,131	883,508,868			882,927,577
End of period			884,568,599	882,845,467			882,966,279
Exchange rates															(yen)
				Fiscal Year Ended		Fiscal Year Ended			Fiscal Year Ended	Fiscal Year Ending
				Feb. 28, 2019			Feb. 29, 2020			Feb. 28, 2021		Feb. 28, 2022 (Forecast)
Income statements	U.S.$1=		110.44			109.03				106.76			107.00
		1yuan=		16.71				15.78				15.48			16.00
Balance sheets	U.S.$1=		111.00			109.56				103.50			-
		1yuan=	16.16			15.67				15.88			-
EBITDA														(Millions of yen)
				Fiscal Year Ended		Fiscal Year Ended			Fiscal Year Ended	Fiscal Year Ending
				Feb. 28, 2019			Feb. 29, 2020			Feb. 28, 2021		Feb. 28, 2022 (Forecast)
					YOY(%)			YOY(%)				YOY(%)		YOY(%)
Total			655,915		105.5	674,317	102.8			626,874		93.0	738,300	117.8
	Domestic convenience store operations		319,439		102.5		333,120	104.3			314,114		94.3
	Overseas convenience store operations	187,239		116.7	198,859	106.2			200,516		100.8
	Superstore operations			48,747		101.0	50,477	103.6			59,711		118.3
	Department store operations	12,404		82.2	9,880	79.7			2,843		28.8
	Financial services			84,787		106.0	83,001	97.9			77,202		93.0
	Specialty store operations			11,235		174.5	9,032	80.4			(8,854)		-
	Others			4,926		83.1		4,002	81.2			4,214		105.3
	Eliminations / Corporate			(12,864)		-		(14,058)		-		(22,873)		-
Notes: 1. Group's total sales include the sales of Seven-Eleven Japan, Seven-Eleven Okinawa and 7-Eleven, Inc. franchisees.
	2."Eliminations / Corporate" in operating income mainly reflects the Company's operating expenses relating to the Group strategy.
	3. EBITDA: Operating income + Depreciation and amortization + Amortization of goodwill*	*Amortization of goodwill: Only figure included in SG&A expenses

4.	ROA: Net income attributable to owners of parent / Average of total assets at the beginning and the end of each fiscal year
5.	ROE: Net income attributable to owners of parent / Average of owners' equity* *Owners' equity: Net assets－Subscription rights to shares－Non-controlling interests
	at the beginning and the end of each fiscal year

1. EPS: Net income attributable to owners of parent / Weighted average shares outstanding during the period
2. EPS before amortization of goodwill: (Net income attributable to owners of parent + Amortization of goodwill) / Weighted average shares outstanding during the period
3. Number of shares outstanding at each fiscal year-end and of weighted average shares over each fiscal period did not include treasury stock. Seven & i Holdings introduced the BIP Trust and ESOP Trust and its shares held by these Trusts are included in the number of treasury stocks.

- 1 -

Consolidated Results-Ⅰ

Ⅱ．Major Factors for the Change

(Millions of yen)

Fiscal Year Ended

Feb. 28, 2021

Change

Group's total sales*1

11,044,874

(952,769)

(Billions of yen)

Major Factors for the Change

Total store sales at Seven-Eleven Japan: (139.6)

Total store sales at 7-Eleven, Inc.: (529.0)

[Effect of exchange rate: (75.9)]

Revenues from operations	5,766,718	(877,641)		Domestic CVS: (50.4), Overseas CVS: (548.4) , Superstore: (38.2)
						Department store: (152.4), Financial services: (18.4), Specialty store: (75.8)
						[Effect of exchange rate: (49.4)]
Operating income (loss)	366,329	(57,936)		[Effect of exchange rate: (2.1)]
	Domestic convenience	234,258	(22,342)		Seven-Eleven Japan: (20.6)
	store operations					Sales: (32.1), Gross profit margin: (3.0), SG&A expenses: +14.5
						Others: (1.6)
	Overseas convenience	98,097	(3,903)		7-Eleven, Inc.: (2.4) [of which, effect of exchange rate: (2.5)]
	store operations					Sales: (36.1), Gross profit margin*2: +46.6, SG&A expenses: (12.9)
						Amortization of goodwill: (1.4) [of which, effect of exchange rate: +0.4]
	Superstore operations	29,683	+8,376		Ito-Yokado: +1.2
						Sales: (26.1), Gross profit margin: +1.8, SG&A expenses: +25.5
						York-Benimaru: +3.4
						Sales: +8.3, Gross profit margin: +1.2, SG&A expenses: (6.0)
						Life Foods*3: +0.17
						Others: +3.4
	Department store operations	(6,248)	(7,045)		Sogo & Seibu: (6.8)
						Sales: (33.6), Gross profit margin: (3.6), SG&A expenses: +30.4
						Others: (0.18)
	Financial services	48,077	(5,533)
	Specialty store operations	(13,572)	(18,262)		Seven & i Food Systems: (7.4)
						Nissen Holdings [Consolidated]: (0.16)
						Others: (10.6)
	Others	1,944	+390
	Eliminations / Corporate*4		(25,911)	(9,615)
Ordinary income	357,364	(60,508)		Decrease in operating income, increase in non-operating losses
Income before income taxes	258,776	(87,693)		Decrease in ordinary income, increase in special losses
Net income attributable to	179,262	(38,923)
owners of parent

*1. Group's total sales include the sales of Seven-Eleven Japan, Seven-Eleven Okinawa and 7-Eleven, Inc. franchisees.

*2. Negative growth in the gross profit on product sales was outweighed by an increase in the gross profit on gasoline sales, leading to an overall rise in the gross profit margin.

*3. Life Foods is a wholly owned subsidiary which produces and sells delicatessen in York-Benimaru stores.

*4. Eliminations / Corporate in operating income mainly reflect the Company's operating expenses relating to the Group strategy.

- 2 -

Consolidated Results-Ⅱ

Ⅲ．Segment Information

Business segment information											(Millions of yen)
				Fiscal Year Ended		Fiscal Year Ended	Fiscal Year Ended			Fiscal Year Ending
				Feb. 28, 2019		Feb. 29, 2020	Feb. 28, 2021			Feb. 28, 2022 (Forecast)
					YOY(%)			YOY(%)			YOY(%) Composition(%)		YOY(%)
	Assets (end of period)		5,795,065	105.5		5,996,887	103.5		6,946,832	115.8	100.0
		Domestic convenience store operations	1,147,777	101.8		1,224,157	106.7		1,252,296	102.3	18.0
		Overseas convenience store operations	1,371,383	116.3	1,401,418	102.2		2,284,682	163.0	32.9
		Superstore operations	945,406	97.6	959,853	101.5		963,545	100.4	13.9
		Department store operations	328,082	95.6	308,969	94.2		297,593	96.3	4.3
		Financial services	1,514,897	105.6	1,666,038	110.0		1,788,607	107.4	25.7
		Specialty store operations	133,429	83.0	136,657	102.4		151,604	110.9	2.2
		Others	159,168	101.9	160,882	101.1		156,651	97.4	2.3
		Eliminations / Corporate		194,920	157.5		138,909	71.3		51,850	37.3	0.7
	Capital expenditures		539,328	155.3	360,909	66.9		377,299	104.5	100.0		511,000	135.4
				[525,462]	[151.3]		-	-		-	-	-		-	-
		Domestic convenience store operations	115,525	82.3	104,226	90.2		129,028	123.8	34.2		136,300	105.6
		Overseas convenience store operations	288,221	305.7	134,684	46.7		145,170	107.8	38.5		214,500	147.8
		Superstore operations	61,462	162.5	47,310	77.0		48,411	102.3	12.8		63,300	130.8
				[47,596]	[125.8]	-	-		-	-	-		-	-
		Department store operations	16,955	130.5	11,235	66.3		16,332	145.4	4.3		12,200	74.7
		Financial services	34,918	90.0	36,099	103.4		39,328	108.9	10.4		43,400	110.4
		Specialty store operations	9,157	103.1	10,427	113.9		9,038	86.7	2.4		5,500	60.9
		Others	2,931	78.7	2,798	95.5		1,760	62.9	0.5		5,000	283.9
		Eliminations / Corporate		10,157	96.4	14,127	139.1		(11,771)	-	-		30,800	-
	Depreciation and amortization		221,133	103.7	226,475	102.4		235,504	104.0	100.0		290,000	123.1
		Domestic convenience store operations		72,717	109.3	76,519	105.2		79,856	104.4	33.9		86,200	107.9
		Overseas convenience store operations	76,141	109.4	77,204	101.4		81,299	105.3	34.5		118,300	145.5
		Superstore operations	24,475	102.4	26,071	106.5		26,929	103.3	11.4		27,300	101.4
		Department store operations	8,667	89.1	9,083	104.8		9,091	100.1	3.9		9,300	102.3
		Financial services	31,072	107.4	29,031	93.4		28,766	99.1	12.2		31,400	109.2
		Specialty store operations	4,141	74.1	3,879	93.7		4,254	109.7	1.8		4,100	96.4
		Others	2,267	100.4	2,447	108.0		2,269	92.7	1.0		2,300	101.4
		Eliminations / Corporate		1,651	24.7	2,238	135.5		3,038	135.7	1.3		11,100	365.3
	Amortization of goodwill		23,184	139.5	23,574	101.7		25,040	106.2	100.0		68,300	272.8
		Domestic convenience store operations		-	-		-	-		-	-	-
		Overseas convenience store operations	18,832	160.0	19,653	104.4		21,119	107.5	84.3
		Superstore operations	3,098	100.0	3,098	100.0		3,098	100.0	12.4
		Department store operations	-	-	-	-		-	-	-
		Financial services	840	62.9	359	42.7		359	100.0	1.4
		Specialty store operations	413	100.0	462	112.0		462	100.0	1.8
		Others	-	-	-	-		-	-	-
		Corporate		-	-		-	-		-	-	-
	Impairment loss		57,368	64.5	35,477	61.8		35,484	100.0	100.0
		Domestic convenience store operations		19,500	212.0	11,801	60.5		8,859	75.1	25.0
		Overseas convenience store operations	3,435	101.2	3,565	103.8		5,911	165.8	16.7
		Superstore operations	20,349	106.1	10,102	49.6		11,589	114.7	32.7
		Department store operations	2,994	10.1	3,179	106.2		3,332	104.8	9.4
		Financial services	10,756	-	4,651	43.2		1	0.0	0.0
		Specialty store operations	3,888	68.3	2,123	54.6		4,252	200.3	12.0
		Others	-	-	39	-		1,529	-	4.3
		Eliminations / Corporate	(3,557)	-	14	-		7	49.7	0.0

Notes: 1."Partial Amendments to the Accounting Standard for Tax Effect Accounting" (ASBJ No.28; February 16, 2018), etc. have been applied from the beginning of the fiscal year ended February 29, 2020, and results for the fiscal year ended February 28, 2019 are those afer retrospective application.

1. Capital expenditures include long-term leasehold deposits, advances for store construction, and investments related to store openings for each fiscal year and beyond, and do not include the increase of future amortization of assets under the Accounting Standard for Asset Retirement Obligations. Figures for actual results do not include goodwill and others related to the acquisition of stores, etc.
   Square brackets [ ] in superstore operations for the fiscal year ended February 28, 2019 show the figures reflecting the sale leaseback of assets. "Eliminations / Corporate" in capital expenditures mainly reflects inter-segment transactions of non-current assets within Group and capital expenditures relating to the Group strategy.
2. Depreciation and amortization include 2,596 million yen recorded as "Loss related to norvel coronavirus (COVID-19)" in the consolidated income statements for the fiscal year ended February 28, 2021.
   "Eliminations / Corporate" in depreciation and amortization mainly reflects the Company's depreciation and amortization relating to the Group strategy.
3. Amortization of goodwill include only the amount recorded on SG&A expenses.
4. Impairment losses respectively include 1,591 million yen, 7,496 million yen, and 3,879 million yen recorded as "Loss on digital and settlement services" and "Restructuring expenses" in the consolidated income statements for the fiscal year ended February 28, 2019, February 29, 2020 and February 28, 2021.

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Consolidated Results-Ⅲ

Geographic area segment information							(Millions of yen)
			Fiscal Year Ended			Fiscal Year Ended				Fiscal Year Ended
			Feb. 28, 2019			Feb. 29, 2020				Feb. 28, 2021
			YOY(%)		YOY(%)			YOY(%)	Composition(%)
Assets (end of period)	5,795,065	105.5	5,996,887	103.5		6,946,832	115.8	100.0
	Japan		4,363,764	103.0		4,537,418	104.0		4,594,255	101.3	66.1
	North America	1,389,111	114.7	1,418,454	102.1		2,302,841	162.3	33.1
	Others		48,051	95.0		46,942	97.7		50,551	107.7	0.7
	Eliminations		(5,863)	-		(5,927)	-		(815)	-	-
Revenues from operations	6,791,215	112.5	6,644,359	97.8		5,766,718	86.8	100.0
	Japan		3,812,200	97.6		3,745,475	98.2		3,435,146	91.7	59.6
	North America	2,862,627	141.9	2,782,055	97.2		2,232,234	80.2	38.7
	Others		117,555	103.1		118,118	100.5		100,707	85.3	1.7
	Eliminations		(1,167)	-		(1,289)	-		(1,371)	-	-
Operating income	411,596	105.1	424,266	103.1		366,329	86.3	100.0
	Japan		319,613	101.6		321,441	100.6		266,096	82.8	72.6
	North America	90,411	119.6	101,777	112.6		99,582	97.8	27.2
	Others		1,562	118.3		1,199	76.8		805	67.2	0.2
	Eliminations		9	91.4	(152)	-	(154)	-	-

Notes: 1."Partial Amendments to the Accounting Standard for Tax Effect Accounting" (ASBJ No.28; February 16, 2018), etc. have been applied from the beginning of the fiscal year ended February 29, 2020, and the assets for the fiscal year ended February 28, 2019

are those after retrospective application.

2."Others" consists of the business results in the P.R.C., etc.

Ⅳ．Interest-Bearing Debt & Ratings

Interest-bearing debt							(Millions of yen)
			Fiscal Year Ended			Fiscal Year Ended			Fiscal Year Ended
			Feb. 28, 2019			Feb. 29, 2020			Feb. 28, 2021
			YOY(%)/change		YOY(%)/change		YOY(%)/change
	Short-term loans		143,160	112.5		129,456	90.4		619,953	478.9
	Current portion of long-term loans	106,688	129.1	88,437	82.9		146,747	165.9
	Current portion of bonds	50,000	66.7	80,000	160.0		66,917	83.6
Subtotal		299,848	105.2		297,893	99.3		833,618	279.8
	Long-term loans	443,425	112.8	403,151	90.9		362,592	89.9
	Bonds		361,914	118.7		281,915	77.9		565,000	200.4
Subtotal		805,340	115.4		685,067	85.1		927,592	135.4
Total		1,105,189	112.4		982,960	88.9		1,761,210	179.2
Ratio to total assets (%)*		19.1	+1.2		16.4	(2.7)		25.4	+9.0
Ratio to owners' equity (%)		43.8	+3.3		37.8	(6.0)		66.0	+28.2
Interest-bearing debt by business segment
	Domestic convenience store		-	-		-	-		-	-
	operations
	Overseas convenience store	260,757	159.1	219,041	84.0	281,974	128.7
	operations
	Superstore operations	637	33.3	-	-	-	-
	Department store operations	163,564	93.1	160,999	98.4	146,193	90.8
	Specialty store operations	44,296	84.1	17,743	40.1	40,998	231.1
	Others	-	-	-	-	-	-
	Corporate		281,914	104.4		236,915	84.0		1,008,917	425.9
Subtotal		751,170	113.1		634,699	84.5		1,478,083	232.9
Financial services		354,018	111.0		348,261	98.4		283,127	81.3
Total		1,105,189	112.4	982,960	88.9	1,761,210	179.2

• "Partial Amendments to the Accounting Standard for Tax Effect Accounting" (ASBJ No.28; February 16, 2018), etc. have been applied from the beginning of the fiscal year ended February 29, 2020, and the total assets for the fiscal year ended February 28, 2019
  are those after retrospective application.

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Consolidated Results-Ⅲ・Ⅳ