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 May 31, 2022 (Based on Japanese GAAP)
July 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 | Kazuyoshi Kimura | ||||||||||||
Inquiries: | Managing Director, Business Management | Toru Abe | TEL | 03-3987-8785 | ||||||||||
Headquarters | ||||||||||||||
Scheduled date to file Quarterly Securities Report: | July 14, 2022 | |||||||||||||
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 nine months ended May 31, 2022 (from September 1, 2021 to May 31, 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 | % | |||||||
Nine months ended May 31, 2022 | 596,509 | - | 15,276 | - | 17,098 | - | 8,160 | - | ||||||
Nine months ended May 31, 2021 | 636,434 | 2.5 | 16,177 | 102.7 | 18,433 | 85.0 | 8,808 | 127.1 | ||||||
Note: Comprehensive income | Nine months ended May 31, 2022 | ¥11,225 million | [-%] | |||||||||||
Nine months ended May 31, 2021 | ¥11,668 million | [92.0%] |
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 ending August 31, 2022. Each figure for the first nine months of the fiscal year ending 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.
Note: At the end of the fiscal year ended August 31, 2021, the Company finalized the provisional accounting treatment for business combinations. Each figure for the nine months ended May 31, 2022 reflects the finalization of the provisional accounting treatment.
Earnings per share | Diluted earnings per share | ||||
Yen | Yen | ||||
Nine months ended May 31, 2022 | 46.79 | 46.75 | |||
Nine months ended May 31, 2021 | 50.07 | 50.03 | |||
(2) Consolidated financial position | |||||
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of May 31, 2022 | 464,795 | 171,251 | 28.9 | ||
As of August 31, 2021 | 454,466 | 179,523 | 31.6 | ||
Reference: Equity | As of May 31, 2022: | ¥134,201 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 first quarter of the fiscal year ending August 31, 2022. Each figure as of May 31, 2022 is the figure after applying the accounting standard and relevant ASBJ regulations.
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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, 2021 | - | 5.00 | - | 10.00 | 15.00 | |||||||||||
Year ending August 31, 2022 | - | 5.00 | ||||||||||||||
Year ending August 31, 2022 (Forecast) | 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, 2022 (from September 1, 2021 to August 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 | 806,000 | - | 17,800 | - | 19,800 | - | 9,500 | - | 54.37 | |||||||
Note: Revision to the financial results forecast announced most recently: No |
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 ending August 31, 2022. The figure of the above consolidated financial results forecast is the figure after applying the accounting standard and relevant ASBJ regulations. Therefore, the percentages of change from the previous fiscal year are not stated.
4. Notes | ||
(1) | Changes in significant subsidiaries during the nine months ended May 31, 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 May 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 May 31, 2022 | 16,983,501 | shares | As of August 31, 2021 | 12,207,800 | shares |
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended May 31, 2022 | 174,381,355 shares | Nine months ended May 31, 2021 | 175,937,273 shares |
- 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, 2021 | As of May 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 108,973 | 88,596 | |
Accounts receivable - trade | 37,501 | 43,891 | |
Merchandise and finished goods | 98,584 | 106,440 | |
Raw materials and supplies | 560 | 529 | |
Program right | 136 | 210 | |
Other | 12,575 | 17,043 | |
Allowance for doubtful accounts | (253) | (177) | |
Total current assets | 258,077 | 256,534 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 27,041 | 27,307 | |
Land | 46,984 | 47,387 | |
Other, net | 11,748 | 13,108 | |
Total property, plant and equipment | 85,774 | 87,803 | |
Intangible assets | |||
Goodwill | 4,742 | 7,318 | |
Other | 26,297 | 26,461 | |
Total intangible assets | 31,040 | 33,780 | |
Investments and other assets | |||
Guarantee deposits | 41,809 | 40,962 | |
Other | 38,083 | 46,019 | |
Allowance for doubtful accounts | (319) | (305) | |
Total investments and other assets | 79,574 | 86,677 | |
Total non-current assets | 196,388 | 208,261 | |
Total assets | 454,466 | 464,795 |
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(Millions of yen) | |||
As of August 31, 2021 | As of May 31, 2022 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 38,098 | 44,301 | |
Short-term borrowings | 56,496 | 64,634 | |
Current portion of bonds payable | 200 | 200 | |
Current portion of long-term borrowings | 25,387 | 23,396 | |
Income taxes payable | 4,572 | 1,575 | |
Contract liabilities | - | 37,410 | |
Provision for bonuses | 3,527 | 5,753 | |
Provision for point card certificates | 13,029 | - | |
Provision for loss on store closings | 203 | 213 | |
Asset retirement obligations | 61 | 136 | |
Other | 32,012 | 22,611 | |
Total current liabilities | 173,589 | 200,233 | |
Non-current liabilities | |||
Bonds payable | 600 | 400 | |
Long-term borrowings | 66,491 | 49,524 | |
Contract liabilities | - | 8,841 | |
Provision for goods warranties | 402 | 315 | |
Provision for loss on store closing | 438 | 281 | |
Retirement benefit liability | 18,323 | 19,139 | |
Asset retirement obligations | 9,230 | 9,295 | |
Other | 5,866 | 5,512 | |
Total non-current liabilities | 101,353 | 93,311 | |
Total liabilities | 274,942 | 293,544 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 25,929 | 25,929 | |
Capital surplus | 27,103 | 27,107 | |
Retained earnings | 105,983 | 101,148 | |
Treasury shares | (16,729) | (21,695) | |
Total shareholders' equity | 142,287 | 132,489 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,593 | 1,770 | |
Remeasurements of defined benefit plans | (149) | (57) | |
Total accumulated other comprehensive income | 1,443 | 1,712 | |
Share acquisition rights | 151 | 175 | |
Non-controlling interests | 35,640 | 36,874 | |
Total net assets | 179,523 | 171,251 | |
Total liabilities and net assets | 454,466 | 464,795 |
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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 | ||
May 31, 2021 | May 31, 2022 | ||
Net sales | 636,434 | 596,509 | |
Cost of sales | 455,708 | 436,996 | |
Gross profit | 180,726 | 159,512 | |
Selling, general and administrative expenses | 164,548 | 144,236 | |
Operating profit | 16,177 | 15,276 | |
Non-operating income | |||
Interest income | 34 | 29 | |
Dividend income | 76 | 79 | |
Share of profit of entities accounted for using equity | 220 | 40 | |
method | |||
Commission income | 1,055 | 1,096 | |
Other | 1,414 | 961 | |
Total non-operating income | 2,801 | 2,207 | |
Non-operating expenses | |||
Interest expenses | 240 | 209 | |
Other | 305 | 175 | |
Total non-operating expenses | 545 | 385 | |
Ordinary profit | 18,433 | 17,098 | |
Extraordinary income | |||
Gain on sale of non-current assets | 7 | 226 | |
Total extraordinary income | 7 | 226 | |
Extraordinary losses | |||
Loss on sale of non-current assets | - | 109 | |
Loss on retirement of non-current assets | 101 | 138 | |
Loss on sale of investment securities | 15 | 0 | |
Loss on valuation of investment securities | - | 45 | |
Provision for loss on store closings | 83 | 126 | |
Loss on disaster | 285 | 443 | |
Other | 231 | 2 | |
Total extraordinary losses | 716 | 866 | |
Profit before income taxes | 17,723 | 16,458 | |
Income taxes - current | 5,266 | 3,476 | |
Income taxes - deferred | 847 | 1,983 | |
Total income taxes | 6,113 | 5,459 | |
Profit | 11,609 | 10,998 | |
Profit attributable to non-controlling interests | 2,801 | 2,838 | |
Profit attributable to owners of parent | 8,808 | 8,160 |
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BIC CAMERA Inc. published this content on 12 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2022 06:23:03 UTC.