Supplementary Information to Financial Results
Total Page:16
File Type:pdf, Size:1020Kb
J. Front Retailing Supplementary Information to Financial Results I. J. Front Retailing Consolidated Statements 【IFRS】 1. Consolidated business performance (Millions of yen, %) Three months YoY Three months Item ended ended May 31, 2020 May 31, 2019 Amount % 1. Gross sales 113,438 (160,564) (58.6) 274,002 2. Revenue 63,459 (49,023) (43.6) 112,482 3. Gross profit 21,272 (30,895) (59.2) 52,167 4. Gross margin 33.52 % Difference (12.86) % 46.38 % Selling, general and administrative expenses 5. 25,152 (14,539) (36.6) 39,691 (SGA) 6. Business profit (3,879) (16,355) - 12,476 7. Operating profit (27,103) (39,897) - 12,794 8. Profit before tax (28,492) (40,642) - 12,150 Profit attributable to owners of 9. (20,334) (27,781) - 7,447 parent 10. Total assets 1,281,163 40,855 1,240,308 [Of which: right-of-use assets] [194,189] [(8,327)] [202,516] 11. Equity attributable to owners of parent 362,262 (24,926) 387,188 Ratio of equity attributable to owners of 12. 28.3 % Difference (2.9) % 31.2 % parent to total assets 13. Interest-bearing debt 602,093 123,320 478,773 [Of which: lease liabilities] [215,609] [(4,888)] [220,497] Notes: 1. Gross sales are calculated by converting sales from purchase recorded at the time of sale (shoka shiire ) of the "Department Store Business" and "Other (Daimaru Kogyo)," which are recognized as revenue under IFRS, into gross amount and converting the net amount of sales of the "Parco Business" into tenant transaction volume (gross amount basis). 2. Business profit is calculated by subtracting cost of sales and SGA from revenue. 3. Results for the previous year in Items 10, 11, 12 and 13 are figures at the end of the previous consolidated fiscal year ended February 29, 2020. 2. Segment information Three months ended May 31, 2020 (Millions of yen, %) Reportable segments Department Credit and Parco Real Estate Other Total Adjustments Consolidated Store Finance Total Business Business Business Business Gross sales 62,180 29,229 2,739 2,345 96,494 26,520 123,015 (9,577) 113,438 YoY % (64.9) (59.9) (38.5) (20.4) (62.6) (9.7) (57.1) - (58.6) (1) Revenue to 24,240 11,985 2,447 1,710 40,384 23,075 63,459 - 63,459 external customers (2) Intersegment revenue 67 147 291 385 890 7,494 8,384 (8,384) - Total revenue 24,308 12,132 2,739 2,095 41,275 30,569 71,844 (8,384) 63,459 YoY % (63.2) (45.1) (38.0) (19.5) (56.6) 8.9 (41.7) - (43.6) Business profit (4,870) 443 752 132 (3,542) 779 (2,763) (1,116) (3,879) YoY % - (84.3) (56.0) (83.1) - (8.2) - - - Segment profit (23,156) (4,127) 380 72 (26,831) (174) (27,005) (98) (27,103) YoY % - - (77.4) (90.9) - - - - - -1- 3. Performance by consolidated company (Millions of yen, %) Three months ended May 31, 2020 Ownership Company name Capital Business Business Operating percentage Revenue Profit profit profit 1. J. Front Retailing Co., Ltd. 8,150 6,907 6,727 6,655 31,974 Daimaru Matsuzakaya Department Department store 2. 25,143 (3,804) (21,302) (15,099) 10,000 100.0 Stores Co. Ltd. Real estate 3. The Hakata Daimaru, Inc. 1,305 (317) (1,120) (801) 3,037 69.9 Department store 4. Kochi Daimaru Co., Ltd. 590 (83) (200) (139) 300 100.0 Department store 5. Parco Co., Ltd. 7,662 575 (3,048) (2,366) 34,367 100.0 Shopping complex 6. Parco (Singapore) Pte Ltd 14 (8) (20) (20) SGD 4M 100.0 Shopping complex 7. Neuve A Co., Ltd. 1,602 (327) (1,324) (1,324) 490 100.0 Specialty store Space engineering & 8. Parco Space Systems Co., Ltd. 4,019 189 (89) (59) 490 100.0 management 9. Parco Digital Marketing Co., Ltd. 256 20 33 23 10 100.0 Internet-related business Real estate management 10. Japan Retail Advisors Co., Ltd. - (0) (0) (0) 10 100.0 Consulting 11. JFR Card Co., Ltd. 2,095 132 72 0 100 100.0 Credit and finance 12. Daimaru Kogyo, Ltd. 7,518 163 126 87 1,800 100.0 Wholesale Daimaru Kogyo International 13. 797 28 43 33 USD 2M 100.0 Wholesale Trading (Shanghai) Co., Ltd. 14. Daimaru Kogyo (Thailand) Co., Ltd. 85 2 3 4 THB 202M 99.9 Wholesale 15. Taiwan Daimaru Kogyo, Ltd. 31 (0) 1 1 NTD 60M 100.0 Wholesale 16. J. Front Design & Construction Co., Ltd. 8,581 409 408 280 100 100.0 Design & construction contracting 17. Dimples' Co., Ltd. 2,007 (288) (319) (221) 90 100.0 Staffing service 18. J. Front Foods Co., Ltd. 141 (156) (386) (386) 100 100.0 Restaurant Consumer Product End-Use Merchandise test 19. 211 15 (7) (5) 100 100.0 Research Institute Co., Ltd. Quality control 20. Angel Park Co., Ltd. 142 34 31 24 400 50.2 Parking Commissioned back-office service 21. JFR Service Co. Ltd. 2,103 57 57 46 100 100.0 Leasing Parking management 22. JFR Information Center Co., Ltd. 1,568 108 109 73 10 100.0 Information service Daimaru Matsuzakaya Sales Commissioned sales & 23. 1,485 471 (164) (113) 90 100.0 Associates Co. Ltd. store operations Daimaru Matsuzakaya Tomonokai Specified prepaid 24. 37 (66) (110) 35 100 100.0 Co., Ltd. transaction service Note: The Shimonoseki Daimaru, Inc. was merged into Daimaru Matsuzakaya Department Stores Co. Ltd. and renamed the "Daimaru Shimonoseki store" on March 1, 2020. -2- 4. Components of SGA (Millions of yen, %) Three months Three months Component ended YoY ended May 31, 2020 May 31, 2019 Amount % Personnel expenses 10,832 (4,355) (28.7) 15,187 Advertising expenses 1,609 (1,447) (47.4) 3,056 Packing and transportation costs 326 (198) (37.6) 524 Rent expenses 252 (335) (57.0) 587 Depriciation 4,333 (2,905) (40.1) 7,238 Operational costs 1,282 (933) (42.1) 2,215 Other 6,514 (4,367) (40.1) 10,881 Total 25,152 (14,539) (36.6) 39,691 Note: Depreciation is included in cost of sales as well as SGA. Three months ended May 31, 2020: 3,858 million yen / Three months ended May 31, 2019: 4,941 million yen 5. Components of other operating income and other operating expenses (Millions of yen) Three months Three months Component ended ended Remarks May 31, 2020 May 31, 2019 Other operating income 800 827 Compensation income - 487 LY: Redevelopment of Shibuya PARCO Other 800 339 Other operating expenses 24,024 509 Loss on disposal of fixed assets 553 414 Mainly Daimaru Matsuzakaya Department Stores - Mainly Daimaru Matsuzakaya Department Stores and Impairment losses 11,589 PARCO Costs associated with temporary - Mainly Daimaru Matsuzakaya Department Stores and closure 11,292 PARCO Other 589 94 6. Components of finance income and finance costs and share of profit (loss) of investments accounted for using equity method (Millions of yen) Three months Three months Component ended ended May 31, 2020 YoY May 31, 2019 Finance income 303 (16) 319 Interest and dividend income 303 (16) 319 Finance costs 1,461 67 1,394 Interest expenses on 1,410 41 1,369 borrowings and bonds Other 50 26 24 Share of profit (loss) of investments (230) (660) 430 accounted for using equity method -3- II. Daimaru Matsuzakaya Department Stores Non-consolidated Statements 【IFRS】 1. Business performance (Millions of yen, %) Three months Three months Item ended YoY ended May 31, 2020 May 31, 2019 Amount % 1. Gross sales 59,596 (103,279) (63.4) 162,875 [Of which: real estate rental income] [4,119] [(1,340)] [(24.5)] [5,459] 2. Revenue 25,143 (38,423) (60.4) 63,566 3. Gross profit 13,069 (23,658) (64.4) 36,727 4. Gross margin 51.98 % Difference (5.80) % 57.78 % 5. SGA 16,873 (12,306) (42.2) 29,179 6. Business profit (3,804) (11,352) - 7,548 7. Operating profit (21,302) (28,594) - 7,292 8. Profit before tax (21,757) (28,825) - 7,068 9. Profit (15,099) (19,968) - 4,869 10. Total assets 593,058 (24,283) 617,341 [Of which: right-of-use assets] [99,757] [(5,356)] [105,113] 11. Equity 173,625 (19,536) 193,161 12. Equity ratio 29.3 % Difference (2.0) % 31.3 % Notes: 1. Gross sales are calculated by converting sales from shoka shiire , which are recognized as revenue under IFRS, into gross amount. 2. Business profit is calculated by subtracting cost of sales and SGA from revenue. 3. Results for the previous year in Items 10, 11 and 12 are figures at the end of the previous business year ended February 29, 2020. Reference (Millions of yen, %) Three months Three months ended ended May 31, 2020 May 31, 2019 Item Department Store Real Estate Department Store Real Estate Business YoY % Business YoY % Business Business 1. Gross sales 56,913 (64.1) 2,739 (38.5) 158,479 4,456 [Of which: real estate rental income] [1,466] [30.7] [2,698] [(38.6)] [1,122] [4,397] 2. Revenue 22,450 (62.1) 2,739 (38.0) 59,205 4,421 3. Gross profit 11,705 (66.0) 1,408 (40.2) 34,433 2,354 4. Gross margin 52.14 % Difference (6.02) 51.43 % Difference (1.83) 58.16 % 53.26 % 5. SGA 16,262 (43.1) 656 1.8 28,594 644 6. Business profit (4,556) - 752 (56.0) 5,838 1,710 7.