Japan Tobacco Inc.
Financial Statements and
Independent Auditor's Report
Year Ended December 31, 2022
Index | |||
1. | Consolidated Financial Statements | 1 | |
(1) | Consolidated Financial Statements | 1 | |
A. Consolidated Statement of Financial Position | 1 | ||
B. Consolidated Statement of Income | 3 | ||
C. Consolidated Statement of Comprehensive Income | 4 | ||
D. Consolidated Statement of Changes in Equity | 5 | ||
E. Consolidated Statement of Cash Flows | 7 | ||
F. Notes to Consolidated Financial Statements | 9 | ||
(2) | Others | 97 | |
2. | Nonconsolidated Financial Statements | 98 | |
(1) | Nonconsolidated Financial Statements | 98 | |
A. Nonconsolidated Balance Sheet | 98 | ||
B. Nonconsolidated Statement of Income | 101 | ||
C. Nonconsolidated Statement of Changes in Net Assets | 102 | ||
D. Notes to Nonconsolidated Financial Statements | 104 | ||
E. Supplementary Statements | 116 | ||
(2) | Major Assets and Liabilities | 116 | |
(3) | Others | 116 | |
3. | Independent Auditor's Report |
1. Consolidated Financial Statements
(1) Consolidated Financial Statements | ||||
A. Consolidated Statement of Financial Position | ||||
As of December 31, 2021 and 2022 | ||||
(Millions of yen) | ||||
2021 | 2022 | |||
Assets | ||||
Current assets | ||||
Cash and cash equivalents (Note 7) | 721,731 | 866,885 | ||
Trade and other receivables (Note 8) | 456,587 | 477,239 | ||
Inventories (Note 9) | 563,182 | 691,906 | ||
Other financial assets (Note 10) | 17,254 | 37,677 | ||
Other current assets (Note 11) | 562,034 | 649,181 | ||
Subtotal | 2,320,789 | 2,722,889 | ||
Assets held for sale (Note 12) | 500 | 702 | ||
Total current assets | 2,321,289 | 2,723,591 | ||
Non-current assets | ||||
Property, plant and equipment (Notes 13, 15) | 755,843 | 775,957 | ||
Goodwill (Note 14) | 2,060,965 | 2,446,063 | ||
Intangible assets (Note 14) | 307,152 | 246,442 | ||
Investment property (Note 16) | 4,985 | 9,495 | ||
Retirement benefit assets (Note 22) | 53,177 | 57,792 | ||
Investments accounted for using the equity method | 41,721 | 56,943 | ||
Other financial assets (Note 10) | 108,658 | 140,366 | ||
Deferred tax assets (Note 17) | 120,419 | 91,430 | ||
Total non-current assets | 3,452,920 | 3,824,487 | ||
Total assets | 5,774,209 | 6,548,078 | ||
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(Millions of yen) | ||||
2021 | 2022 | |||
Liabilities and equity | ||||
Liabilities | ||||
Current liabilities | ||||
Trade and other payables (Note 18) | 555,777 | 540,089 | ||
Bonds and borrowings (Note 19) | 142,901 | 137,308 | ||
Income tax payables | 30,794 | 37,470 | ||
Other financial liabilities (Note 19) | 28,342 | 40,065 | ||
Provisions (Note 20) | 24,858 | 26,610 | ||
Other current liabilities (Note 21) | 717,653 | 781,093 | ||
Subtotal | 1,500,326 | 1,562,635 | ||
Liabilities directly associated with assets held for sale | - | 29 | ||
Total current liabilities | 1,500,326 | 1,562,664 | ||
Non-current liabilities | ||||
Bonds and borrowings (Note 19) | 775,721 | 821,003 | ||
Other financial liabilities (Note 19) | 43,885 | 41,735 | ||
Retirement benefit liabilities (Note 22) | 296,176 | 244,116 | ||
Provisions (Note 20) | 22,867 | 26,490 | ||
Other non-current liabilities (Note 21) | 179,195 | 195,248 | ||
Deferred tax liabilities (Note 17) | 69,959 | 40,061 | ||
Total non-current liabilities | 1,387,803 | 1,368,653 | ||
Total liabilities | 2,888,128 | 2,931,317 | ||
Equity | ||||
Share capital (Note 23) | 100,000 | 100,000 | ||
Capital surplus (Note 23) | 736,400 | 736,400 | ||
Treasury shares (Note 23) | (490,899) | (490,183) | ||
Other components of equity (Note 23) | (400,086) | 104,309 | ||
Retained earnings | 2,863,843 | 3,089,909 | ||
Equity attributable to owners of the parent company | 2,809,258 | 3,540,435 | ||
Non-controlling interests | 76,823 | 76,326 | ||
Total equity | 2,886,081 | 3,616,761 | ||
Total liabilities and equity | 5,774,209 | 6,548,078 | ||
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B. Consolidated Statement of Income
Years Ended December 31, 2021 and 2022 | |
2021 | |
Revenue (Notes 6, 25) | |
2,324,838 | |
Cost of sales (Notes 14, 22) | (956,861) |
Gross profit | 1,367,976 |
Other operating income (Note 26) | 15,622 |
Share of profit in investments accounted for using the | 3,997 |
equity method | |
Selling, general and administrative expenses | (888,574) |
(Notes 12, 13, 14, 16, 22, 27, 32) | |
Operating profit (Note 6) | 499,021 |
Financial income (Notes 28, 33) | 19,013 |
Financial costs (Notes 22, 28, 33) | (45,645) |
Profit before income taxes | 472,390 |
Income taxes (Note 17) | (132,208) |
Profit for the period | 340,181 |
Attributable to | |
Owners of the parent company | 338,490 |
Non-controlling interests | 1,691 |
Profit for the period | 340,181 |
Earnings per share | |
Basic (Yen) (Note 30) | 190.76 |
Diluted (Yen) (Note 30) | 190.68 |
Reconciliation from "Operating profit" to "Adjusted operating profit"
(Millions of yen)
2022
2,657,832
(1,090,989)
1,566,843
20,262
8,009
(941,538)
653,575
31,147
(91,272)
593,450
(149,277)
444,174
442,716
1,458
444,174
249.45
249.36
(Millions of yen)
Operating profit
Amortization cost of acquired intangibles arising from business acquisitions
Adjustment items (income) Adjustment items (costs)
Adjusted operating profit (Note 6)
2021
499,021
68,876
(11,469)
54,006
610,434
2022
653,575
71,392
(15,865)
18,677
727,779
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Japan Tobacco Inc. published this content on 24 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2023 08:09:11 UTC.