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 Year Ended August 31, 2022
(Based on Japanese GAAP)
October 12, 2022 | |||||||||||||||
Company name: | BIC CAMERA INC. | ||||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||||
Stock code: | 3048 | URL https://www.biccamera.co.jp/ir/ | |||||||||||||
Representative: | Representative Director and President | Toru Akiho | |||||||||||||
Inquiries: | Managing Director, Business Management | Toru Abe | TEL | 03-3987-8785 | |||||||||||
Headquarters | |||||||||||||||
Scheduled date of annual general meeting of shareholders: | November 17, 2022 | ||||||||||||||
Scheduled date to commence dividend payments: | November 18, 2022 | ||||||||||||||
Scheduled date to file Securities Report: | November 18, 2022 | ||||||||||||||
Preparation of supplementary material on financial results: | Yes | ||||||||||||||
Holding of financial results meeting: | Yes | (for institutional investors and analysts) | |||||||||||||
(Amounts less than one million yen are rounded down) | |||||||||||||||
1. Consolidated financial results for the year ended August 31, 2022 (from September 1, 2021 to August 31, 2022) | |||||||||||||||
(1) Consolidated operating results | 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 | % | ||||||||
Year ended August 31, 2022 | 792,368 | - | 17,863 | - | 20,808 | - | 5,765 | - | |||||||
Year ended August 31, 2021 | 834,060 | (1.6) | 18,217 | 51.0 | 21,629 | 47.2 | 8,761 | 60.7 | |||||||
Note: Comprehensive income | Year ended August 31, 2022 | ¥9,096 million | [-%] | ||||||||||||
Year ended August 31, 2021 | ¥12,095 million | [15.7%] |
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations effective from the beginning of the fiscal year ended August 31, 2022. Each figure for the fiscal year ended August 31, 2022 is the figure after applying the accounting standard and relevant ASBJ regulations. Therefore, the percentages of change from the previous year are not stated.
Earnings per share | Diluted earnings | Return on equity | Ordinary profit/ | Operating profit/ | |||||||
per share | total assets | net sales | |||||||||
Yen | Yen | % | % | % | |||||||
Year ended August 31, 2022 | 33.22 | 33.16 | 4.2 | 4.6 | 2.3 | ||||||
Year ended August 31, 2021 | 49.80 | 49.75 | 6.2 | 4.7 | 2.2 | ||||||
Reference: | Share of profit (loss) of entities accounted for using equity method | Year ended August 31, 2022: | ¥19 million | ||||||||
Year ended August 31, 2021: | ¥192 million | ||||||||||
(2) Consolidated financial position | |||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||
As of August 31, 2022 | 456,466 | 169,133 | 28.8 | 767.54 | |||||||
As of August 31, 2021 | 454,466 | 179,523 | 31.6 | 816.94 | |||||||
Reference: | Equity | As of August 31, 2022: | ¥131,375 million | ||||||||
As of August 31, 2021: | ¥143,730 million |
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations effective from the beginning of the fiscal year ended August 31, 2022. Each figure as of August 31, 2022 is the figure after applying the accounting standard and relevant ASBJ regulations.
(3) Consolidated cash flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |
operating activities | investing activities | financing activities | at end of period | |
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
Year ended August 31, 2022 | 25,317 | (18,076) | (26,565) | 89,536 |
Year ended August 31, 2021 | 7,763 | (12,356) | (4,387) | 108,857 |
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2. Cash dividends
Annual dividends per share | Total cash | Dividend | Ratio of | |||||
dividends to | ||||||||
1st quarter- | 2nd quarter- | 3rd quarter- | Fiscal year- | dividends | payout ratio | |||
Total | net assets | |||||||
(Total) | (Consolidated) | |||||||
end | end | end | end | (Consolidated) | ||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Year ended | - | 5.00 | - | 10.00 | 15.00 | 2,639 | 30.1 | 1.9 |
August 31, 2021 | ||||||||
Year ended | - | 5.00 | - | 10.00 | 15.00 | 2,580 | 45.2 | 1.9 |
August 31, 2022 | ||||||||
Year ending | ||||||||
August 31, 2023 | - | 5.00 | - | 10.00 | 15.00 | 32.9 | ||
(Forecast) |
3. Forecast of consolidated financial results for the year ending August 31, 2023 (from September 1, 2022 to August 31, 2023)
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 | |||||||||
Six months ending | 407,000 | 3.7 | 6,900 | (26.9) | 8,000 | (25.0) | 2,800 | (41.3) | 16.36 | ||||||||
February 28, 2023 | |||||||||||||||||
Full year | 823,500 | 3.9 | 17,300 | (3.2) | 19,300 | (7.3) | 7,800 | 35.3 | 45.57 | ||||||||
4. Notes | |||||||||||||||||
(1) Changes in significant subsidiaries during the year ended August 31, 2022 | No | ||||||||||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | |||||||||||||||||
(2) 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 | ||||||||||||||||
(3) Number of issued shares (common shares) | |||||||||||||||||
Total number of issued shares at the end of the period (including treasury shares) | |||||||||||||||||
As of August 31, 2022 | 188,146,304 | shares | As of August 31, 2021 | 188,146,304 | shares | ||||||||||||
Number of treasury shares at the end of the period | |||||||||||||||||
As of August 31, 2022 | 16,981,502 | shares | As of August 31, 2021 | 12,207,800 | shares | ||||||||||||
Average number of shares during the period | |||||||||||||||||
Year ended August 31, 2022 | 173,570,349 | shares | Year ended August 31, 2021 | 175,937,583 | shares |
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Reference: Summary of non-consolidated financial results | ||||||||
Non-consolidated financial results for the year ended August 31, 2022 (from September 1, 2021 to August 31, 2022) | ||||||||
(1) Non-consolidated operating results | Percentages indicate year-on-year changes | |||||||
Net sales | Operating profit | Ordinary profit | Profit | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Year ended August 31, 2022 | 405,608 | - | 75 | - | 3,294 | - | 2,057 | - |
Year ended August 31, 2021 | 440,298 | (4.4) | 503 | - | 3,900 | 521.9 | 1,358 | - |
Earnings per share | Diluted earnings per share | |||||||
Yen | Yen | |||||||
Year ended August 31, 2022 | 11.85 | 11.85 | ||||||
Year ended August 31, 2021 | 7.72 | 7.72 | ||||||
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations effective from the beginning of the fiscal year ended August 31, 2022. Each figure for the fiscal year ended August 31, 2022 is the figure after applying the accounting standard and relevant ASBJ regulations. Therefore, the percentages of change from the previous year are not stated.
(2) Non-consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | |||
Millions of yen | Millions of yen | % | Yen | |||
As of August 31, 2022 | 312,594 | 86,586 | 27.7 | 505.57 | ||
As of August 31, 2021 | 316,050 | 101,024 | 31.9 | 573.73 | ||
Reference: Equity | As of August 31, 2022: | ¥86,536 million | ||||
As of August 31, 2021: | ¥100,940 million |
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations effective from the beginning of the fiscal year ended August 31, 2022. Each figure as of August 31, 2022 is the figure after applying the accounting standard and relevant ASBJ regulations.
- Financial results reports are exempt from audit 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 the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, the statements herein do not constitute assurances regarding the
Company's actual results. Actual financial results may differ substantially due to various factors.
(How to obtain supplementary materials on financial results and contents of financial results meeting)
The Company plans to hold the financial results meeting for institutional investors and analysts on Tuesday, October 18, 2022. The images (video) and explanation contents (audio) of the presentation will be posted on the Company's website along with the financial results materials.
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Consolidated financial statements
Consolidated balance sheets
(Millions of yen) | ||
As of August 31, 2021 | As of August 31, 2022 | |
Assets | ||
Current assets | ||
Cash and deposits | 108,973 | 91,081 |
Accounts receivable - trade | 37,501 | 41,672 |
Merchandise and finished goods | 98,584 | 100,872 |
Raw materials and supplies | 560 | 513 |
Program right | 136 | 176 |
Other | 12,575 | 18,128 |
Allowance for doubtful accounts | (253) | (186) |
Total current assets | 258,077 | 252,258 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 64,802 | 83,604 |
Accumulated depreciation | (37,760) | (55,692) |
Buildings and structures, net | 27,041 | 27,912 |
Machinery, equipment and vehicles | 3,680 | 6,864 |
Accumulated depreciation | (2,037) | (2,790) |
Machinery, equipment and vehicles, net | 1,643 | 4,074 |
Land | 46,984 | 47,594 |
Leased assets | 8,667 | 8,541 |
Accumulated depreciation | (6,947) | (7,318) |
Leased assets, net | 1,720 | 1,222 |
Construction in progress | 837 | 279 |
Other | 25,183 | 27,129 |
Accumulated depreciation | (17,636) | (21,182) |
Other, net | 7,546 | 5,946 |
Total property, plant and equipment | 85,774 | 87,030 |
Intangible assets | ||
Goodwill | 4,742 | 5,496 |
Other | 26,297 | 24,725 |
Total intangible assets | 31,040 | 30,222 |
Investments and other assets | ||
Investment securities | 12,229 | 13,192 |
Long-term loans receivable | 1,078 | 416 |
Deferred tax assets | 20,812 | 24,466 |
Retirement benefit asset | 3,041 | 2,942 |
Guarantee deposits | 41,809 | 41,094 |
Other | 921 | 5,019 |
Allowance for doubtful accounts | (319) | (176) |
Total investments and other assets | 79,574 | 86,954 |
Total non-current assets | 196,388 | 204,207 |
Total assets | 454,466 | 456,466 |
- 4 -
(Millions of yen) | |||
As of August 31, 2021 | As of August 31, 2022 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 38,098 | 42,810 | |
Short-term borrowings | 56,496 | 65,006 | |
Current portion of bonds payable | 200 | 200 | |
Current portion of long-term borrowings | 25,387 | 22,954 | |
Lease liabilities | 528 | 404 | |
Income taxes payable | 4,572 | 2,455 | |
Contract liabilities | - | 34,390 | |
Provision for bonuses | 3,527 | 3,867 | |
Provision for point card certificates | 13,029 | - | |
Provision for loss on store closings | 203 | 506 | |
Asset retirement obligations | 61 | 524 | |
Other | 31,484 | 24,659 | |
Total current liabilities | 173,589 | 197,781 | |
Non-current liabilities | |||
Bonds payable | 600 | 400 | |
Long-term borrowings | 66,491 | 43,945 | |
Lease liabilities | 985 | 587 | |
Deferred tax liabilities | 726 | 828 | |
Contract liabilities | - | 8,942 | |
Provision for goods warranties | 402 | 262 | |
Provision for loss on store closing | 438 | 458 | |
Provision for loss on business of subsidiaries | and | - | 54 |
associates | |||
Retirement benefit liability | 18,323 | 19,767 | |
Asset retirement obligations | 9,230 | 10,187 | |
Other | 4,154 | 4,116 | |
Total non-current liabilities | 101,353 | 89,551 | |
Total liabilities | 274,942 | 287,332 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 25,929 | 25,929 | |
Capital surplus | 27,103 | 27,107 | |
Retained earnings | 105,983 | 98,753 | |
Treasury shares | (16,729) | (21,693) | |
Total shareholders' equity | 142,287 | 130,097 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,593 | 1,599 | |
Remeasurements of defined benefit plans | (149) | (321) | |
Total accumulated other comprehensive income | 1,443 | 1,278 | |
Share acquisition rights | 151 | 183 | |
Non-controlling interests | 35,640 | 37,574 | |
Total net assets | 179,523 | 169,133 | |
Total liabilities and net assets | 454,466 | 456,466 |
- 5 -
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BIC CAMERA Inc. published this content on 12 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2022 06:31:02 UTC.