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 Three Months Ended November 30, 2022 (Based on Japanese GAAP)
January 11, 2023 | ||||
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 to file Quarterly Securities Report: | January 13, 2023 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended November 30, 2022 (from September 1, 2022 to November 30, 2022)
(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 | % | |||
Three months ended November 30, 2022 | 192,160 | 7.4 | 1,499 | (31.5) | 1,953 | (34.2) | 645 | (46.6) | ||
Three months ended November 30, 2021 | 178,974 | - | 2,189 | - | 2,968 | - | 1,209 | - | ||
Note: Comprehensive income | Three months ended November 30, 2022 | ¥816 million | [(60.0)%] | |||||||
Three months ended November 30, 2021 | ¥2,041 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 first quarter of the fiscal year ended August 31, 2022. Each figure for the first three months of 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 same quarter of the previous year are not stated.
Earnings per share | Diluted earnings per share | ||||
Yen | Yen | ||||
Three months ended November 30, 2022 | 3.77 | 3.77 | |||
Three months ended November 30, 2021 | 6.87 | 6.86 | |||
(2) Consolidated financial position | |||||
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of November 30, 2022 | 479,440 | 167,899 | 27.2 | ||
As of August 31, 2022 | 456,466 | 169,133 | 28.8 | ||
Reference: Equity | As of November 30, 2022: | ¥130,446 million | |||
As of August 31, 2022: | ¥131,375 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 August 31, 2022 | - | 5.00 | - | 10.00 | 15.00 | |||||||||
Year ending August 31, 2023 | - | |||||||||||||
Year ending August 31, 2023 (Forecast) | 5.00 | - | 10.00 | 15.00 | ||||||||||
Note: Revision to the forecast for dividends announced most recently: | No | |||||||||||||
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 | ||||||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
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 | |||||
Note: Revision to the financial results forecast announced most recently: No | ||||||||||||||
4. Notes | ||||||||||||||
(1) Changes in significant subsidiaries during the three months ended November 30, 2022 | No | |||||||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | ||||||||||||||
(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 November 30, 2022 | 188,146,304 shares |
As of August 31, 2022 | 188,146,304 shares |
Number of treasury shares at the end of the period
As of November 30, 2022 | 16,979,902 shares |
As of August 31, 2022 | 16,981,502 shares |
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended November 30,
Three months ended November 30,
2022
171,165,504 shares
175,938,504 shares
2021
- Quarterly financial results reports are exempt from quarterly review 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.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of August 31, 2022 | As of November 30, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 91,081 | 82,756 | |
Accounts receivable - trade | 41,672 | 46,460 | |
Merchandise and finished goods | 100,872 | 123,626 | |
Raw materials and supplies | 513 | 598 | |
Program right | 176 | 178 | |
Other | 18,128 | 21,909 | |
Allowance for doubtful accounts | (186) | (183) | |
Total current assets | 252,258 | 275,346 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 27,912 | 29,566 | |
Land | 47,594 | 47,747 | |
Other, net | 11,523 | 11,160 | |
Total property, plant and equipment | 87,030 | 88,474 | |
Intangible assets | |||
Goodwill | 5,496 | 5,315 | |
Other | 24,725 | 24,957 | |
Total intangible assets | 30,222 | 30,273 | |
Investments and other assets | |||
Guarantee deposits | 41,094 | 41,016 | |
Other | 46,037 | 44,483 | |
Allowance for doubtful accounts | (176) | (153) | |
Total investments and other assets | 86,954 | 85,345 | |
Total non-current assets | 204,207 | 204,094 | |
Total assets | 456,466 | 479,440 |
- 3 -
(Millions of yen) | |||
As of August 31, 2022 | As of November 30, 2022 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 42,810 | 60,662 | |
Short-term borrowings | 65,006 | 77,865 | |
Current portion of bonds payable | 200 | 230 | |
Current portion of long-term borrowings | 22,954 | 22,488 | |
Income taxes payable | 2,455 | 1,189 | |
Contract liabilities | 34,390 | 33,118 | |
Provision for bonuses | 3,867 | 6,013 | |
Provision for loss on store closings | 506 | 398 | |
Asset retirement obligations | 524 | 609 | |
Other | 25,063 | 25,302 | |
Total current liabilities | 197,781 | 227,878 | |
Non-current liabilities | |||
Bonds payable | 400 | 300 | |
Long-term borrowings | 43,945 | 38,382 | |
Contract liabilities | 8,942 | 8,815 | |
Provision for goods warranties | 262 | 234 | |
Provision for loss on store closing | 458 | 433 | |
Provision for loss on business of subsidiaries and | 54 | 57 | |
associates | |||
Retirement benefit liability | 19,767 | 20,058 | |
Asset retirement obligations | 10,187 | 10,363 | |
Other | 5,532 | 5,017 | |
Total non-current liabilities | 89,551 | 83,662 | |
Total liabilities | 287,332 | 311,540 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 25,929 | 25,929 | |
Capital surplus | 27,107 | 27,109 | |
Retained earnings | 98,753 | 98,002 | |
Treasury shares | (21,693) | (21,691) | |
Total shareholders' equity | 130,097 | 129,350 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,599 | 1,392 | |
Remeasurements of defined benefit plans | (321) | (296) | |
Total accumulated other comprehensive income | 1,278 | 1,095 | |
Share acquisition rights | 183 | 196 | |
Non-controlling interests | 37,574 | 37,256 | |
Total net assets | 169,133 | 167,899 | |
Total liabilities and net assets | 456,466 | 479,440 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
November 30, 2021 | November 30, 2022 | |
Net sales | 178,974 | 192,160 |
Cost of sales | 130,337 | 140,898 |
Gross profit | 48,637 | 51,261 |
Selling, general and administrative expenses | 46,447 | 49,761 |
Operating profit | 2,189 | 1,499 |
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Commission income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
9 | 8 |
6 | 3 |
8 | - |
349 | 401 |
542 | 186 |
916 | 599 |
73 | 57 |
- | 38 |
64 | 50 |
Total non-operating expenses | 137 | 146 | |
Ordinary profit | 2,968 | 1,953 | |
Extraordinary income | |||
Gain on sale of non-current assets | 1 | 4 | |
Total extraordinary income | 1 | 4 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 34 | 21 | |
Other | - | 3 | |
Total extraordinary losses | 34 | 24 | |
Profit before income taxes | 2,934 | 1,933 | |
Income taxes - current | 699 | 1,043 | |
Income taxes - deferred | 292 | (116) | |
Total income taxes | 991 | 927 | |
Profit | 1,943 | 1,006 | |
Profit attributable to non-controlling interests | 734 | 360 | |
Profit attributable to owners of parent | 1,209 | 645 |
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BIC CAMERA Inc. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 06:19:13 UTC.