AEON Stores Hong Kong : Financial Statements (1.95 MB/PDF) 2019 interim report

CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

NAKAGAWA Isei (Managing Director)

IKUTA Masamitsu (Deputy Managing Director)

CHAK Kam Yuen

LAU Chi Sum Sam

TSUKAHARA Keiji

Non-executive Directors

HABU Yuki (Chairman)

YAMASHITA Akinori

Independent Non-executive Directors

CHAN Yi Jen Candi Anna

LO Miu Sheung Betty

CHOW Chi Tong

MIZUNO Hideto

NOMINATION COMMITTEE

HABU Yuki (Chairman)

CHAN Yi Jen Candi Anna

LO Miu Sheung Betty

CHOW Chi Tong

MIZUNO Hideto

REMUNERATION COMMITTEE

CHAN Yi Jen Candi Anna (Chairman)

HABU Yuki

LO Miu Sheung Betty

CHOW Chi Tong

MIZUNO Hideto

AUDIT COMMITTEE

CHOW Chi Tong (Chairman)

HABU Yuki

CHAN Yi Jen Candi Anna

LO Miu Sheung Betty

MIZUNO Hideto

Interim Report 2019

COMPANY SECRETARY

CHAN Kwong Leung Eric

AUDITOR

Deloitte Touche Tohmatsu

Certified Public Accountants

PRINCIPAL BANKERS

Mizuho Bank, Ltd.

MUFG Bank, Ltd.

Sumitomo Mitsui Banking Corporation

Standard Chartered Bank (Hong Kong) Limited

The Hong Kong and Shanghai Banking

Corporation Limited

SHARE REGISTRARS

Tricor Secretaries Limited

Level 54, Hopewell Centre

183 Queen's Road East

Hong Kong

REGISTERED OFFICE

G-4 Floor, Kornhill Plaza (South)

2 Kornhill Road, Hong Kong

HEAD OFFICE AND PRINCIPAL

PLACE OF BUSINESS

Units 07-11, 26/F, CDW Building

388 Castle Peak Road

Tsuen Wan, New Territories, Hong Kong

Tel: [phone]

Fax: [phone]

STOCK CODE

984

WEBSITE

www.aeonstores.com.hk

AEON Stores (Hong Kong) Co., Limited

1

Interim Report 2019

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

FOR THE SIX MONTHS ENDED 30 JUNE 2019

		Six months ended
	NOTES	30.6.2019	30.6.2018
		HK$'000	HK$'000
		(unaudited)	(unaudited)
Revenue	3	4,829,780	4,929,803
Other income	4	270,906	300,368
Investment income		13,704	11,843
Interest income from rental deposits		5,352	-
Purchase of goods and changes in inventories		(3,405,365)	(3,416,708)
Staff costs		(569,349)	(627,930)
Depreciation of investment properties		(43,673)	-
Depreciation of property, plant and equipment		(105,594)	(114,391)
Depreciation of right-of-use assets		(378,593)	-
Rental expenses		(61,358)	(572,965)
Pre-operating expenses		(1,661)	(6,697)
Other gains and losses	5	(3,527)	935
Other expenses	6	(535,820)	(542,784)
Interest on lease liabilities		(155,685)	-
Loss before tax		(140,883)	(38,526)
Income tax expense	7	(7,053)	(4,887)
Loss for the period	8	(147,936)	(43,413)
(Loss) profit for the period attributable to:
Owners of the Company		(149,096)	(50,484)
Non-controlling interests		1,160	7,071
		(147,936)	(43,413)
Loss per share	10	(57.34) HK cents	(19.42) HK cents

2 AEON Stores (Hong Kong) Co., Limited

Interim Report 2019

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30 JUNE 2019

	Six months ended
	30.6.2019	30.6.2018
	HK$'000	HK$'000
	(unaudited)	(unaudited)
Loss for the period	(147,936)	(43,413)
Other comprehensive income
Item that will not be reclassified to profit or loss:
Fair value gain on investments in equity instruments at fair value through
other comprehensive income ("FVTOCI")	102	547
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial statements of foreign
operations	3,233	9,978
Other comprehensive income for the period, net of income tax	3,335	10,525
Total comprehensive expense for the period	(144,601)	(32,888)
Total comprehensive (expense) income for the period attributable to:
Owners of the Company	(147,123)	(44,834)
Non-controlling interests	2,522	11,946
	(144,601)	(32,888)

AEON Stores (Hong Kong) Co., Limited

3

Interim Report 2019

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AT 30 JUNE 2019

	NOTES	30.6.2019	31.12.2018
		HK$'000	HK$'000
		(unaudited)	(audited)
Non-current Assets
Property, plant and equipment	11	753,950	796,071
Right-of-use assets	11	3,756,838	-
Investment properties	11	510,088	-
Goodwill		94,838	94,838
Equity instruments at FVTOCI	12	26,647	26,545
Pledged bank deposits	13	28,333	25,001
Deferred tax assets		48,890	48,736
Rental and related deposits paid	14	191,506	263,826
		5,411,090	1,255,017
Current Assets
Inventories		784,300	856,763
Trade receivables	14	49,971	55,368
Other receivables, prepayments and deposits	14	122,317	140,213
Amounts due from fellow subsidiaries	15	40,995	53,805
Tax recoverable		-	2,284
Time deposits	16	109,353	358,095
Pledged bank deposits	13	10,786	14,852
Bank balances and cash		1,853,797	1,651,349
		2,971,519	3,132,729
Current Liabilities
Trade payables	17	1,330,911	1,250,497
Other payables, accrued charges and other liabilities	17	709,291	846,229
Lease liabilities		742,241	-
Contract liabilities	17	393,925	393,557
Dividend payable		32,919	426
Amount due to ultimate holding company	15	42,853	30,980
Amounts due to fellow subsidiaries	15	17,846	77,234
Tax liabilities		4,110	-
		3,274,096	2,598,923
Net Current (Liabilities) Assets		(302,577)	533,806
Total Assets Less Current Liabilities		5,108,513	1,788,823
Capital and Reserves
Share capital		115,158	115,158
Reserves		759,219	1,325,889
Equity attributable to owners of the Company		874,377	1,441,047
Non-controlling interests		139,658	137,136
Total Equity		1,014,035	1,578,183
Non-current Liabilities
Rental deposits received and other liabilities	17	121,957	209,251
Lease liabilities		3,970,900	-
Deferred tax liabilities		1,621	1,389
		4,094,478	210,640
		5,108,513	1,788,823

4 AEON Stores (Hong Kong) Co., Limited