Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2021 (Based on Japanese GAAP)
Company name: | Kansai Food Market Ltd. | ||
Stock exchange listing: | Tokyo | ||
Stock code: | 9919 | URL http://www.kansai-foodmarket.co.jp/ | |
Representative: | President of Representative Director | Katsuhiro Hayashi | |
Inquiries: | Director and General Manager of | Gaku Watanabe | |
Administrative Planning Office | |||
Scheduled date to file Quarterly Securities Report: | February 10, 2022 | ||
Scheduled date to commence dividend payments: | - | ||
Preparation of supplementary material on quarterly financial results: | Yes | ||
Holding of quarterly financial results meeting: | No |
February 9, 2022
TEL 072-744-5701
(Amounts less than one million yen are rounded down) | ||||||||
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021) | ||||||||
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Millions of yen | % Millions of yen | % Millions of yen | % | Millions of yen | % | |||
Nine months ended December 31, 2021 | 192,788 | - | 4,027 | - | 3,365 | - | 2,919 | - |
Nine months ended December 31, 2020 | 99,316 | 4.6 | 2,677 | 88.1 | 2,957 | 75.3 | 1,973 | 74.4 |
Note: Comprehensive income Nine months ended December 31, 2021 | ¥2,873 million | [-%] | ||||||
Nine months ended December 31, 2020 | ¥2,135 million | [105.0%] | ||||||
Earnings per share | Diluted earnings per share | |||||||
Yen | Yen | |||||||
Nine months ended December 31, 2021 | 87.81 | - | ||||||
Nine months ended December 31, 2020 | 64.83 | - |
Notes: 1. In the nine months ended December 31, 2021, share exchanges were conducted resulting in the Company becoming the wholly owning parent company in the share exchanges and Izumiya Co., Ltd. and Hankyu Oasis Co., Ltd. becoming the wholly owned subsidiaries in the respective share exchange, and this has been reflected in the consolidated financial statements with December 31, 2021 as the deemed acquisition date for both cases.
As the share exchanges are treated as reverse acquisitions under business combination accounting, the operating results of the nine months ended December 31, 2021 are presented including the operating results of Izumiya Co., Ltd. and Hankyu Oasis Co., Ltd. As the scope of this report is different from prior periods, the percentage changes from the same quarter of the previous year are not stated.
2. As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the fiscal year ending March 31, 2022, each figure for the nine months ended December 31, 2021 is the figure after the application of the said accounting standard, etc.
- Consolidated financial position
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of December 31, 2021 | 149,817 | 59,794 | 39.9 | ||
As of March 31, 2021 | 54,720 | 34,595 | 63.2 | ||
Reference: Equity | As of December 31, 2021 | ¥59,794 | million | ||
As of March 31, 2021 | ¥34,595 | million |
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2. Cash dividends
Annual dividends per share | ||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||
Year ended March 31, 2021 | - | 8.00 | - | 10.00 | 18.00 | |||||||||||
Year ending March 31, 2022 | - | 8.00 | - | |||||||||||||
Year ending March 31, 2022 (Forecast) | 10.00 | 18.00 | ||||||||||||||
Notes: 1. Revision of cash dividend forecast most recently announced: Yes | ||||||||||||||||
2. Breakdown of year-end dividend for the fiscal year ended March 31, 2021 | ||||||||||||||||
Ordinary dividend | ¥8.00 | Special dividend | ¥2.00 | |||||||||||||
3. Breakdown of year-end dividend for the fiscal year ending March 31, 2022 | ||||||||||||||||
Ordinary dividend | ¥8.00 | Special dividend | ¥2.00 | |||||||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022) | ||||||||||||||||
Percentages indicate year-on-year changes | ||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | ||||||||||||
owners of parent | ||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||||||||
Full year | 289,100 | - | 5,300 | - | 4,400 | - | 7,800 | - | 196.57 | |||||||
Note: Revision of consolidated financial results forecast most recently announced: Yes |
4. Notes
(1) Changes in significant subsidiaries during the nine months ended December 31, 2021Yes (changes in specified subsidiaries resulting in the change in scope of consolidation):
Note: Although this matter does not constitute a change in specified subsidiaries in the nine months ended December 31, 2021, KS Company Split Preparation Co., Ltd. was newly established on September 22, 2021 in order to transition to a holding company structure through an absorption-type company split with an effective date of February 1, 2022, and is included in the scope of consolidation. KS Company Split Preparation Co., Ltd. changed its trade name to Kansai Super Market Ltd. on February 1, 2022.
(2) | Application of special accounting methods for preparing quarterly consolidated financial statements: | No | |||||
(3) | Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | ||||||
Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes | ||||||
Changes in accounting policies due to other reasons: | No | ||||||
Changes in accounting estimates: | No | ||||||
Restatement of prior period financial statements: | No | ||||||
(4) | Number of issued shares (common shares) | ||||||
Total number of issued shares at the end of the period (including treasury shares) | |||||||
As of December 31, 2021 | 63,858,804 | shares | As of March 31, 2021 | 31,940,954 shares | |||
Number of treasury shares at the end of the period | |||||||
As of December 31, 2021 | 4,865,824 | shares | As of March 31, 2021 | 1,951,827 shares | |||
Average number of shares during the period (cumulative from the beginning of the fiscal year) | |||||||
Nine months ended December 31, 2021 | 33,242,695 | shares | Nine months ended December 31, 2020 | 30,443,164 shares |
Note: On December 15, 2021, a share exchange was conducted resulting in the Company becoming the wholly owning parent company in the share exchange and Izumiya Co., Ltd. becoming the wholly owned subsidiary in the share exchange, and a share exchange was conducted resulting in the Company becoming the wholly owning parent company in the share exchange and Hankyu Oasis Co., Ltd. becoming the wholly owned subsidiary in the share exchange, and the Company issued shares of common stock. As a result, total number of issued shares at the end of the period have increased.
- Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
-
Proper use of forecasts of financial results, and other special matters (Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual performance and other results may differ materially due to various factors.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 6,879 | 17,370 | |
Accounts receivable - trade | 1,748 | 14,235 | |
Merchandise and finished goods | 2,454 | 7,310 | |
Raw materials and supplies | 64 | 170 | |
Short-term loans receivable | - | 2,502 | |
Accounts receivable - other | 965 | 6,306 | |
Other | 497 | 2,072 | |
Allowance for doubtful accounts | - | (83) | |
Total current assets | 12,610 | 49,886 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 9,837 | 31,357 | |
Machinery, equipment and vehicles, net | 231 | 1,063 | |
Land | 21,072 | 35,557 | |
Construction in progress | - | 101 | |
Other, net | 2,391 | 4,419 | |
Total property, plant and equipment | 33,533 | 72,499 | |
Intangible assets | |||
Goodwill | - | 2,324 | |
Other | 439 | 1,619 | |
Total intangible assets | 439 | 3,943 | |
Investments and other assets | |||
Investment securities | 1,755 | 1,179 | |
Long-term loans receivable | - | 3,133 | |
Guarantee deposits | 4,374 | 12,902 | |
Retirement benefit asset | 970 | 1,226 | |
Deferred tax assets | 980 | 4,395 | |
Other | 55 | 657 | |
Allowance for doubtful accounts | - | (6) | |
Total investments and other assets | 8,137 | 23,488 | |
Total non-current assets | 42,109 | 99,931 | |
Total assets | 54,720 | 149,817 | |
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(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 7,585 | 33,898 | |
Current portion of long-term borrowings | 1,204 | 1,168 | |
Accounts payable - other | 2,666 | 14,978 | |
Lease obligations | 426 | 972 | |
Income taxes payable | 631 | 865 | |
Advances received | 82 | 1,923 | |
Provision for bonuses | 1,026 | 832 | |
Other | 1,653 | 12,893 | |
Total current liabilities | 15,277 | 67,532 | |
Non-current liabilities | |||
Long-term borrowings | 1,314 | 1,199 | |
Provision for retirement benefits for directors (and other | - | 49 | |
officers) | |||
Retirement benefit liability | 876 | 4,350 | |
Long-term accounts payable - other | 6 | 79 | |
Lease obligations | 622 | 10,599 | |
Long-term guarantee deposits | 1,499 | 3,865 | |
Asset retirement obligations | 517 | 2,208 | |
Other | 10 | 137 | |
Total non-current liabilities | 4,846 | 22,490 | |
Total liabilities | 20,124 | 90,023 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 9,862 | 9,862 | |
Capital surplus | 10,906 | 54,671 | |
Retained earnings | 15,551 | 2,916 | |
Treasury shares | (1,860) | (7,383) | |
Total shareholders' equity | 34,460 | 60,066 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 253 | - | |
Revaluation reserve for land | - | (479) | |
Remeasurements of defined benefit plans | (117) | 208 | |
Total accumulated other comprehensive income | 135 | (271) | |
Total net assets | 34,595 | 59,794 | |
Total liabilities and net assets | 54,720 | 149,817 | |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Nine months ended | Nine months ended | ||
December 31, 2020 | December 31, 2021 | ||
Net sales | 99,316 | 192,788 | |
Cost of sales | 73,987 | 130,134 | |
Gross profit | 25,329 | 62,653 | |
Selling, general and administrative expenses | 22,651 | 58,626 | |
Operating profit | 2,677 | 4,027 | |
Non-operating income | |||
Interest income | 4 | 17 | |
Dividend income | 21 | 0 | |
Share of profit of entities accounted for using equity method | 6 | - | |
Other | 279 | 133 | |
Total non-operating income | 312 | 151 | |
Non-operating expenses | |||
Interest expenses | 16 | 284 | |
Contributions for group operations | - | 404 | |
Other | 15 | 123 | |
Total non-operating expenses | 32 | 813 | |
Ordinary profit | 2,957 | 3,365 | |
Extraordinary income | |||
Gain on sale of non-current assets | - | 164 | |
Gain on sale of investment securities | 4 | - | |
Gain on bargain purchase | - | 231 | |
Total extraordinary income | 4 | 396 | |
Extraordinary losses | |||
Loss on sale and retirement of non-current assets | 16 | 88 | |
Loss on closing stores and others | - | 12 | |
Impairment losses | - | 80 | |
Provision for loss on store closings | 1 | - | |
Total extraordinary losses | 17 | 181 | |
Profit before income taxes | 2,945 | 3,581 | |
Income taxes - current | 678 | 617 | |
Income taxes - deferred | 292 | 44 | |
Total income taxes | 971 | 661 | |
Profit | 1,973 | 2,919 | |
Profit attributable to non-controlling interests | - | - | |
Profit attributable to owners of parent | 1,973 | 2,919 | |
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KANSAI SUPER MARKET Ltd. published this content on 18 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 06:30:09 UTC.