H2O Retailing Corporation Supplementary information to Financial Results
for the Third Quarter of the Fiscal Year
Ending March 31, 2023
February 6, 2023
I. Consolidated Financial Results
- Consolidated statements of income Overview of financial results
Selling, general and administrative expenses Non-operating Income and Expenses Extraordinary Income and Losses - Consolidated Balance Sheet
- Capital Investment II. Non-consolidatedresults
- Hankyu Hanshin Department Stores, Inc.
- Izumiya Co., Ltd.
- Hankyu Oasis Co., Ltd.
- Kansai Super Market Ltd.
H2O Retailing Corporation(8242)
Supplementary information to Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2023
I. Consolidated Financial Results
1. Consolidated statements of income < Overview of financial results >
(millions of yen) | |||||
Dec. 31, | Dec. 31, | Dec. 31, | |||
2020 | 2021 | 2022 | |||
Amount | Amount | Amount | YoY | Inc./Dec. | |
Department Store | 252,727 | 282,457 | 365,102 | 29.3% | 82,645 |
Supermarket | 223,367 | 225,860 | 315,565 | 39.7% | 89,705 |
Shopping Center | 51,366 | 34,748 | 27,494 | (20.9)% | (7,254) |
Other | 24,108 | 24,083 | 26,623 | 10.5% | 2,540 |
Gross Sales | 551,568 | 567,149 | 734,786 | 29.6% | 167,636 |
Net Sales | 551,568 | 371,303 | 474,896 | 27.9% | 103,592 |
Department Store | (963) | 1,060 | 7,854 | 640.7% | 6,794 |
Supermarket | 4,466 | 3,926 | 4,555 | 16.0% | 628 |
Shopping Center | (102) | 380 | 1,681 | 341.3% | 1,300 |
Other | (571) | (2,618) | (2,318) | - | 300 |
consolidation adjustment | (3,837) | (2,029) | (2,291) | - | (262) |
Operating Profit | (1,008) | 720 | 9,481 | - | 8,760 |
Ordinary Profit | (101) | 2,012 | 11,642 | 478.5% | 9,630 |
Extraordinary income | 3,010 | 22,578 | 8,857 | (60.8)% | (13,720) |
Extraordinary losses | 12,797 | 8,791 | 3,906 | (55.6)% | (4,885) |
Profit | (8,109) | 12,937 | 10,957 | (15.3)% | (1,979) |
- The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
- Supermarket business includes the results of three companies, Kansai Food Market Ltd., Kansai Super Market Ltd. and Kansai Super Premium Co., Ltd. The above three companies were not included in the previous year's results for the third quarter of the current fiscal year.
< Selling, general and administrative expenses >
(millions of yen)
Dec. 31, | Dec. 31, | Dec. 31, | |||
2020 | 2021 | 2022 | |||
Amount | Amount | Amount | YoY | Inc./Dec. | |
Personnel expenses | 60,813 | 60,963 | 70,916 | 16.3% | 9,953 |
Rent expenses | 26,617 | 28,804 | 35,465 | 23.1% | 6,661 |
Advertising expenses | 3,798 | 4,892 | 6,467 | 32.2% | 1,574 |
Depreciation | 12,393 | 11,790 | 13,658 | 15.8% | 1,867 |
Business consignment expenses | 13,096 | 14,099 | 15,831 | 12.3% | 1,732 |
Sales commission | 9,103 | 4,065 | 6,632 | 63.2% | 2,567 |
Transportation costs | 11,336 | 11,159 | 13,263 | 18.9% | 2,103 |
Others | 22,632 | 22,227 | 28,474 | 28.1% | 6,246 |
Total | 159,791 | 158,003 | 190,710 | 20.7% | 32,707 |
* The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
1
H2O Retailing Corporation(8242)
Supplementary information to Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2023
< Non-operating Income and Expenses >
(millions of yen)
Dec. 31, | Dec. 31, | Dec. 31, | |||
2020 | 2021 | 2022 | |||
Amount | Amount | Amount | YoY | Inc./Dec. | |
Non-operating income | 3,984 | 3,823 | 4,217 | 10.3% | 393 |
Interest income | 262 | 387 | 414 | 6.9% | 26 |
Dividend income | 1,405 | 1,061 | 1,114 | 5.0% | 52 |
Gain on adjustment of accounts payable | 1,440 | 740 | 715 | (3.3)% | (24) |
Foreign exchange gains | 173 | 997 | 1,342 | 34.6% | 344 |
Other | 701 | 635 | 629 | (1.0)% | (6) |
Non-operating expenses | 3,077 | 2,531 | 2,055 | (18.8)% | (475) |
Interest expenses | 616 | 708 | 734 | 3.6% | 25 |
Loss on provision for redemption of gift certificates | 1,182 | 594 | 576 | (3.1)% | (18) |
Share of loss of entities accounted for using equity method | 496 | 648 | 300 | (53.7)% | (347) |
Other | 782 | 579 | 444 | (23.3)% | (135) |
- The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
< Extraordinary Income and Losses >
(millions of yen)
Dec. 31, | Dec. 31, | Dec. 31, | Main contents | |
2020 | 2021 | 2022 | ||
Amount | Amount | Amount | ||
Extraordinary income | 3,010 | 22,578 | 8,857 | |
Gain on sale of non-current assets | 4,974 | Selling former head office | ||
Gain on sale of investment securities | 3,819 | Selling Takashimaya shares | ||
Subsidy income | 63 | Compensation payment for store closing | ||
Extraordinary losses | 12,797 | 8,791 | 3,906 | |
Loss on store closings | 1,405 | H2O Shopping Center Development | ||
Loss on retirement of non-current assets | 1,085 | Hankyu Hanshin Department Stores | ||
Loss related to COVID-19 | 405 | Hankyu Hanshin Department Stores | ||
Head office relocation expenses | 323 | H2O Retailing | ||
Hankyu Hanshin Department Stores | ||||
Loss on valuation of investment securities | 303 | |||
Loss on withdrawal of system development | 279 | H2O Retailing | ||
Expenses for opening new stores | 102 | Hanshin Umeda Main Store | ||
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H2O Retailing Corporation(8242)
Supplementary information to Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2023
2. Consolidated Balance Sheet
(millions of yen) | |||
Dec. 31, | Mar. 31, | Dec. 31, | |
2021 | 2022 | 2022 | |
Amount | Amount | Amount | |
Cash and deposits | 59,484 | 34,724 | 65,474 |
Notes and accounts receivable-trade | 76,658 | 59,906 | 83,365 |
Inventory | 25,337 | 22,639 | 23,541 |
Total current assets | 173,508 | 129,725 | 184,554 |
Property, plant and equipment | 294,711 | 301,245 | 309,059 |
Intangible assets | 16,536 | 16,443 | 18,217 |
Investments and other assets | 210,455 | 207,143 | 202,514 |
Total non-current assets | 521,704 | 524,832 | 529,792 |
Total assets | 695,212 | 654,558 | 714,346 |
(millions of yen) | |||
Dec. 31, | Mar. 31, | Dec. 31, | |
2021 | 2022 | 2022 | |
Amount | Amount | Amount | |
Notes and accounts payable-trade | 80,010 | 56,839 | 92,043 |
Loans payable and bonds | 184,250 | 175,382 | 179,353 |
Total liabilities | 432,347 | 393,620 | 446,254 |
Shareholders' equity | 205,657 | 202,030 | 200,762 |
Total net assets | 262,865 | 260,938 | 268,092 |
Total liabilities and net assets | 695,212 | 654,558 | 714,346 |
3. Capital Investment
(millions of yen)
Dec. 31, | Main contents | |
2022 | ||
Amount | ||
Department Store | 9,169 | Renovation of Kobe Hankyu |
Supermarket | 3,713 | New stores opening of Hankyu Oasis |
Renovation of Izumiya stores | ||
Shopping Center | 820 | |
Other | 11,758 | Purchase of land and buildings of H2O Retailing |
consolidation adjustment | (93) | |
Total | 25,368 | |
3
H2O Retailing Corporation(8242)
Supplementary information to Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2023
Ⅲ. Non-consolidated results
1. Hankyu Hanshin Department Stores,Inc. < Overview of financial results >
(millions of yen) | |||
Amount | YoY | Inc./Dec. | |
Gross Sales | 363,054 | 29.4% | 82,476 |
Gross Profit | 81,764 | 28.0% | 17,908 |
Gross profit/ Gross Sales | 22.52% | - | (0.24)pt |
Other operating revenue | 2,479 | 5.9% | 138 |
SG & A | 76,483 | 17.3% | 11,253 |
SG & A/ Net Sales | 21.07% | - | (2.18)pt |
Operating profit | 7,760 | - | 6,793 |
Operating profit/ Gross Sales | 2.14% | 520.4% | 0.02pt |
* Non-consolidated results shown above are reclassified on the basis before the application of "Accounting Standards for Revenue Recognition".
(millions of yen, thousands of people)
Sales | YoY | Number of | YoY | |
customers | ||||
Hankyu Main Store *1 | 194,903 | 33.3% | 25,809 | 39.6% |
Hanshin Umeda Main Store *2 | 40,204 | 104.3% | 21,517 | 113.2% |
Senri Hankyu | 10,433 | 5.4% | 2,714 | (6.7)% |
Takatsuki Hankyu | 16,413 | 18.6% | 6,200 | 12.6% |
Kawanishi Hankyu | 9,662 | 4.5% | 3,690 | 9.6% |
Takarazuka Hankyu *3 | 5,142 | (3.2)% | - | - |
Nishinomiya Hankyu | 18,016 | 10.4% | 8,714 | 13.1% |
Kobe Hankyu | 24,249 | 11.3% | 10,964 | 25.0% |
Hakata Hankyu | 36,743 | 19.9% | 16,910 | 21.4% |
Hankyu Men's Tokyo | 8,916 | 25.4% | 1,486 | 56.9% |
Oi Hankyu Food Hall | 3,366 | (2.4)% | 3,643 | 6.0% |
Tsuzuki Hankyu | 2,413 | (1.7)% | 1,629 | (2.5)% |
Amagasaki Hanshin *3 | 2,290 | 2.3% | - | - |
Hanshin Nishinomiya | 3,097 | (2.9)% | 2,824 | 1.5% |
Hanshin Mikage | 396 | 3.4% | 3,404 | 0.5% |
Total of branch stores | 141,141 | 11.8% | 62,182 | 14.3% |
Total stores *4 | 376,249 | 28.8% | 109,509 | 32.0% |
*1 including Hankyu Men's Osaka
*2 Hanshin Umeda Main Store: Rebuilt and reopened on April 6, 2022 *3 not counting the number of customers
*4 including sales in tenants etc. (13,194 millions of yen)
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H2O Retailing Corporation published this content on 06 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 08:09:00 UTC.