Takashimaya : Interim Financial Results Supplemental Information Six Months Ended Aug. 31, 2023

October 13, 2023

Interim Financial Results Supplemental Information

Six Months Ended Aug. 31, 2023

Takashimaya Co., Ltd.

		contents
I. Consolidated basis	Page
1.	Financial highlights	1
2.	Subsidiaries	3
3.	Selling, general and administrative expenses	4
4.	Non-operating income and expenses	4
5.	Extraordinary income and losses	4
6.	Segment information	5
7.	Capital investments	5
II. Non-consolidated basis
1.	Financial highlights	6
2.	Capital investments	7
3.	Selling, general and administrative expenses	8
4.	Non-operating income and expenses	9
5.	Extraordinary income and losses	9
6.	Details about sales	10
	Sales by store	10
	Sales by business type	10
	Sales by merchandise	11

I. Consolidated basis

1. Financial highlights

(millions of yen, %)

	The first half results		The current fiscal year projections
	Amount	Year on year	Amount	Year on year
	(%)		(%)
１． Operating revenue	221,175	5.8	12,162	465,000	4.9	21,556
２． Total operating revenue	447,638	8.3	34,136	944,000	7.1	62,236
３． Net sales	182,016	5.3	9,120	384,000	4.1	15,136
４． Total sales	409,179	8.2	31,167	864,000	6.9	55,465
５． Gross profit	94,466	8.7	7,555	194,500	4.2	7,898
６． Total gross profit	101,735	9.0	8,421	207,500	3.9	7,805
７． Selling, general and administrative expenses	112,814	2.4	2,599	231,500	1.2	2,839
８． Operating profit	20,810	62.4	7,998	44,000	35.3	11,480
９． Ordinary profit	22,181	52.0	7,584	45,000	30.4	10,479
10． Profit attributable to owners of parent	14,962	10.6	1,439	29,500	6.0	1,661
11． EBITDA	32,060	33.3	8,017	69,000	24.6	13,606
12． Total assets	1,201,750	2.0	23,548	1,202,000	2.0	23,798
13． Total net assets	457,953	4.9	21,471	462,000	5.8	25,517
14． Net cash provided by (used in) operating activities	21,061	288.6	15,641	78,000	113.7	41,502
15． Net cash provided by (used in) investing activities	(15,517)	－	(8,820)	(55,000)	－	(44,292)
16． Net cash provided by (used in) financing activities	(10,994)	－	(5,732)	(20,000)	－	12,428
Depreciation (included in cost of sales,
17． SG&A expenses and extraordinary losses)	16,895	2.1	353	34,569	3.4	1,148
18． Capital investments	13,495	27.0	2,869	47,584	78.8	20,976
19． Interest-bearing debt	210,535	(1.4)	(3,047)	210,000	(1.7)	(3,583)
20． Gross profit ratio	51.90	－	1.63	50.65	－	0.06
21． Total gross profit ratio	24.86	－	0.17	24.02	－	(0.68)
Selling, general and administrative expenses /
22． Total operating revenue	25.2	－	(1.5)	24.5	－	(1.4)
23． Ratio of SG&A expenses to net sales	62.0	－	(1.7)	60.3	－	(1.7)
24． Operating margin	11.4	－	4.0	11.5	－	2.7
25． Ordinary profit / Net sales	12.2	－	3.8	11.7	－	2.3
26． Ordinary profit / Total assets (ROA)	－	－	－	3.8	－	0.8
Profit attributable to owners of parent / Equity
27． (ROE)	－	－	－	6.9	－	0
28． Interest-bearing debt / Total assets	17.5	－	(0.6)	17.5	－	(0.6)
29． Debt-to-equity ratio	0.49	－	(0.03)	0.48	－	(0.04)
30． Equity ratio	36.1	－	1.0	36.4	－	1.3
31． EBITDA / Total assets	－	－	－	5.8	－	1.0
32． Net interest-bearing debt / EBITDA	－	－	－	1.7	－	(0.5)
33． Number of employees	6,825	(1.0)	(72)	6,757	(2.0)	(140)
34． Number of subsidiaries	27	－	－	27	－	(1)
35． Number of equity method affiliates	8	－	－	8	－	－

－ 1 －

1. The above items 12, 13, 19, 28, 29, 30 and 33 are compared to the previous fiscal year-end.
2. The Accounting Standard for Revenue Recognition and relevant ASBJ regulations have been applied from the beginning of the first quarter of the previous fiscal year. However, the above items 2, 4, 6, 21 and 22 were calculated using the previous standard.
3. Fashion Plaza Sunroser Co., Ltd., which was a consolidated subsidiary of the Company, completed its liquidation in July 2023 after its real estate business was taken over by Toshin Development Co., Ltd. through an absorption-type company split. Accordingly, the said subsidiary was excluded from the number of consolidated subsidiaries in the calculation.

－ 2 －

2. Subsidiaries

(millions of yen, %)

Subsidiaries	Segment	Owner-			The first half results				The current fiscal year projections
ship	Operating	Operating	Ordinary		Profit		Operating	Operating	Ordinary		Profit
						revenue		profit	profit			revenue		profit	profit
Okayama Takashimaya Co., Ltd.			100.0		3,388		54		49		107		7,400		200		198		200
Gifu Takashimaya Co., Ltd.			100.0		2,701		24		26		(956)		6,100		(0)		3		(1,000)
Takasaki Takashimaya Co., Ltd.			100.0		3,605		154		163		104		7,500		300		299		200
Takashimaya Singapore Ltd.	Department store	100.0		11,731		3,506		2,799		2,323		25,798		7,518		6,096		5,060
Shanghai Takashimaya Co.,Ltd.	100.0		1,513		112		77		76		3,357		299		(369)		(53)
Takashimaya Vietnam Ltd.			100.0		1,408		350		170		161		3,211		762		389		317
Siam Takashimaya (Thailand) Co.,Ltd.			51.0		1,248		(255)		(215)		(215)		2,798		(347)		(364)		(349)
Takashimaya Tomonokai Co.,Ltd.			100.0		2,256		(508)		285		204		4,799		(1,048)		498		529
R.T. Corporation Ltd.			100.0		6,555		248		243		160		12,959		623		611		416
Toshin Development Co., Ltd.			100.0		32,194		4,539		4,731		3,256		57,641		7,437		8,426		5,760
Toshin Development Singapore Pte. Ltd.			100.0		5,209		1,627		1,240		1,016		10,464		3,080		2,279		1,872
Fashion Plaza Sunroser Co.,Ltd.			100.0		－		(13)		(14)		(24)		－		(13)		(14)		(24)
A&B Development CORP.	Commercial	35.7		591		304		319		254		1,187		587		587		468
Gateway Vietnam Education Joint Stock	property	75.0		241		225		388		337		487		438		497		490
Company	development
Globaland Ltd.			60.0		－		(6)		0		0		－		(11)		18		18
Hanoi Residential and Commercial Centre -			60.0		411		6		19		10		1,045		149		111		84
HRCC Ltd.
SLUC Co.,Ltd.			100.0		－		(35)		(29)		0		－		(69)		(149)		(100)
Toshin Development Vietnam Ltd.			100.0		140		23		23		23		523		42		42		38
NSland Vietnam Joint Stock Company			79.9		－		(0)		(54)		(54)		－		(2)		(31)		(6)
Takashimaya Financial Partners Co., Ltd.	Finance	69.5		10,640		2,255		2,678		1,750		21,671		4,459		5,415		3,593
Takashimaya Space Create Co., Ltd.	Construction	100.0		14,296		130		125		130		30,351		722		738		565
& Design
Good Live Co., Ltd.			100.0		1,958		143		141		128		4,193		374		369		286
RTD Co., Ltd.			60.0		826		24		24		15		1,476		37		37		25
TAKASHIMAYA TRANSCOSMOS
INTERNATIONAL COMMERCE			51.0		930		107		88		88		1,882		185		164		165
PTE.LTD.
ATA CO., LTD.	Other	100.0		3,109		314		328		214		7,350		1,079		1,107		732
Century & Co., Ltd.			100.0		3,310		133		137		108		6,844		181		190		147
Takashimaya Facilities Co.,Ltd.			100.0		395		31		32		22		786		53		55		36
Select Square Co., Ltd.			100.0		386		(9)		(9)		6		835		24		22		43

1. On March 1, 2023, Toshin Development Co., Ltd. and The Tamagawa Institute., Ltd. carried out an absorption-type merger with Toshin Development Co., Ltd. as the surviving company and The Tamagawa Institute., Ltd. as the absorbed company.
2. NSland Vietnam Joint Stock Company has been included in the scope of consolidation, because VNOP Holdings Pte. Ltd., a wholly owned subsidiary of Toshin Development Co., Ltd., acquired the shares of the said company in April 2023.
3. Since Fashion Plaza Sunroser Co., Ltd., which was a consolidated subsidiary of the Company, completed its liquidation in July 2023 after its real estate business was taken over by Toshin Development Co., Ltd. through an absorption-type company split, profit or loss of this company up to the said month is presented.

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