Consolidated Financial Results
for the Fiscal Year Ended February 28, 2021
[Japanese GAAP]
April 13, 2021
Company name: PAL GROUP Holdings CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 2726
URL: http://www.palgroup.holdings/
Representative: Ryuta Inoue, President and Representative Director
Contact: Toshio Fujii, Executive Officer and General Manager of Finance and Accounting Department
Phone: +81-6-6227-0308
Scheduled date of ordinary general meeting of shareholders: May 26, 2021
Scheduled date of commencing dividend payments: May 27, 2021
Scheduled date of filing securities report: May 28, 2021
Availability of supplementary briefing material on financial results: Not available
Schedule of financial results briefing session: Scheduled (for analysts and institutional investors)
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended February 28, 2021 (March 1, 2020 to February 28,
2021) | ||||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||
owners of parent | ||||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | |||||
Fiscal year ended | 108,522 | (17.9) | 1,383 | (84.7) | 1,052 | (88.5) | 270 | (96.1) | ||||
February 28, 2021 | ||||||||||||
Fiscal year ended | 132,163 | 1.3 | 9,067 | 14.3 | 9,168 | 17.1 | 7,028 | 47.6 | ||||
February 29, 2020 | ||||||||||||
(Note) Comprehensive income: Fiscal year ended February 28, 2021: ¥7 million [(99.9)%] | ||||||||||||
Fiscal year ended February 29, 2020: ¥6,858 million [42.5%] | ||||||||||||
Basic earnings | Diluted earnings | Rate of return on | Ordinary profit to | Operating profit | ||||||||
per share | per share | equity | total assets | to net sales | ||||||||
yen | yen | % | % | % | ||||||||
Fiscal year ended | 6.16 | ― | 0.6 | 1.0 | 1.3 | |||||||
February 28, 2021 | ||||||||||||
Fiscal year ended | 159.74 | ― | 15.9 | 10.0 | 6.9 | |||||||
February 29, 2020 | ||||||||||||
(Reference) Equity in earnings of affiliates: Fiscal year ended February 28, 2021: ¥(287) million Fiscal year ended February 29, 2020: ¥158 million
The Company conducted a stock split as of March 1, 2020, at a ratio of 2 shares for each common share. Therefore, basic earnings per share is calculated on the assumption that this stock split was conducted at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | |
million yen | million yen | % | yen | |
As of February 28, | 108,186 | 44,351 | 41.0 | 1,009.69 |
2021 | ||||
As of February 29, | 94,954 | 46,627 | 49.1 | 1,059.78 |
2020 | ||||
(Reference) Equity: As of February 28, 2021: ¥44,351 million As of February 29, 2020: ¥46,627 million
The Company conducted a stock split as of March 1, 2020, at a ratio of 2 shares for each common share. Therefore, net assets per share is calculated on the assumption that this stock split was conducted at the beginning of the previous fiscal year.
(3) Consolidated Cash Flows
Net cash provided by | Net cash provided by | Net cash provided by | Cash and cash | |||||||||||||
(used in) operating | (used in) investing | (used in) financing | equivalents at end of | |||||||||||||
activities | activities | activities | period | |||||||||||||
million yen | million yen | million yen | million yen | |||||||||||||
Fiscal year ended | 1,450 | (1,188) | 10,098 | 63,088 | ||||||||||||
February 28, 2021 | ||||||||||||||||
Fiscal year ended | 14,705 | (3,543) | (4,068) | 52,727 | ||||||||||||
February 29, 2020 | ||||||||||||||||
2. Dividends | ||||||||||||||||
Annual dividends | Total | Dividends to | ||||||||||||||
dividends | Payout ratio | |||||||||||||||
1st | 2nd | 3rd | Year- | net assets | ||||||||||||
quarter | quarter | quarter | Total | paid | (consolidated) | |||||||||||
end | (consolidated) | |||||||||||||||
-end | -end | -end | (annual) | |||||||||||||
yen | yen | yen | yen | yen | million yen | % | % | |||||||||
Fiscal year ended | ― | 0.00 | ― | 100.00 | 100.00 | 2,199 | 31.3 | 5.0 | ||||||||
February 29, 2020* | ||||||||||||||||
Fiscal year ended | ― | 0.00 | ― | 25.00 | 25.00 | 1,098 | 405.8 | 2.4 | ||||||||
February 28, 2021 | ||||||||||||||||
Fiscal year ending | ||||||||||||||||
February 28, 2022 | ― | 0.00 | ― | 50.00 | 50.00 | 56.3 | ||||||||||
(Forecast) |
*The Company conducted a stock split as of March 1, 2020, at a ratio of 2 shares for each common share. Therefore, "100.00 yen" presented above as the year-end dividend for the fiscal year ended February 29, 2020 amounts to
50.00 yen per share under the condition after the stock split.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 28, 2022 (March 1, 2021 to February 28, 2022)
(% indicates changes from the previous corresponding period)
Net sales | Operating profit | Ordinary profit | Profit attributable | Basic earnings | |||||
to owners of parent | per share | ||||||||
million yen | % | million yen | % | million yen | % | million yen | % | yen | |
First half | 63,000 | 39.5 | 1,850 | ― | 1,700 | ― | 800 | ― | 18.21 |
Full year | 134,000 | 23.5 | 7,400 | 434.8 | 7,100 | 574.3 | 3,900 | 1,340.4 | 88.79 |
* Notes
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
- Changes in accounting policies, changes in accounting estimates and corrections of errors
- Changes in accounting policies due to the revision of accounting standards: No
- Any changes other than 1) above: No
- Changes in accounting estimates: No
- Corrections of errors: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
As of February 28, 2021 | 46,272,000 shares | |
As of February 29, 2020 | 46,272,000 shares | |
2) Total number of treasury shares at the end of the period: | ||
As of February 28, 2021 | 2,346,134 shares | |
As of February 29, 2020 | 2,274,644 shares | |
3) Average number of shares during the period: | ||
Fiscal year ended February 28, 2021 | 43,928,952 shares | |
Fiscal year ended February 29, 2020 | 43,997,450 shares |
The Company conducted a stock split as of March 1, 2020, at a ratio of 2 shares for each common share.
Therefore, the total number of issued shares at the end of the period, the total number of treasury shares at the end of the period, and the average number of shares during the period are calculated on the assumption that this stock split was conducted at the beginning of the previous fiscal year.
- These consolidated financial results are not covered by the audit procedure conducted by a certified public accountant or audit corporation.
-
Explanation of the proper use of financial results forecast and other notes
The statements regarding financial results forecast in this report are based on the information that is available, as well as estimates, assumptions and projections that are believed to be reasonable at the time of publication, and do not guarantee the achievement of the projections. Therefore, there might be cases in which actual results differ from forecast values.
Appendix | ||
1. Overview of Consolidated Operating Results | 2 | |
(1) | Overview of Consolidated Operating Results for the Period under Review | 2 |
(2) | Overview of Consolidated Financial Position for the Period under Review | 2 |
(3) | Overview of Consolidated Cash Flows for the Period under Review | 3 |
(4) | Outlook for Fiscal 2022 | 4 |
2. Consolidated Financial Statements | 5 | |
(1) | Consolidated Balance Sheets | 5 |
(2) | Consolidated Statements of Income and Comprehensive Income | 7 |
(3) | Consolidated Statements of Changes in Net Assets | 10 |
(4) | Consolidated Statements of Cash Flows | 12 |
1
1. Overview of Consolidated Operating Results
- Overview of Consolidated Operating Results for the Period under Review
- Overview for the Fiscal Year Ended February 28, 2021
During the fiscal year ended February 28, 2021 (March 1, 2020 to February 28, 2021), the Japanese economy deteriorated rapidly with significant decline in consumption and production due to the spread of the coronavirus disease (COVID-19) infection. Economic activity resumed gradually after the first state of emergency was lifted, with signs of a moderate recovery, due partly to government policies designed to stimulate demand. However, a second state of emergency was declared in January 2021, and the outlook is uncertain as of April, with the Stricter Measure to Prevent the Spread of the Virus measures introduced.
Under such a business environment, the Company made every effort to strengthen EC sales to make up for the decline in customer traffic, while securing the health and safety of its employees. The Company focused on introducing its products in various digital media such as Instagram and took measures including awarding extra points and offering limited time sales. As a result, EC sales increased by more than 35% year on year. However, the impact of the temporary closure from April to May in 2020 and the reduction in store operating hours that continued subsequently was extremely significant. Consequently, in the Apparel Business, net sales decreased by 22.2% year on year to ¥75,540 million, and in the Miscellaneous Goods/Accessories Business, net sales decreased by 5.9% to ¥32,904 million.
As a result of the above, net sales for the fiscal year ended February 28, 2021 decreased by 17.9% year on year to ¥108,522 million. In terms of profit, the gross profit margin decreased by 1.7 percentage point year on year to 54.6%. Operating profit decreased by ¥7,683 million year on year to ¥1,383 million, ordinary profit decreased by ¥8,115 million year on year to ¥1,052 million, and profit attributable to owners of parent decreased by ¥6,757 million year on year to ¥270 million.
2) Sales Results by Segment for the Fiscal Year Ended February 29, 2020
Segment | Amount (million yen) | Changes from the previous |
fiscal year (%) | ||
Apparel Business | 75,540 | 77.8 |
Miscellaneous | 32,904 | 94.1 |
Goods/Accessories Business | ||
Other | 77 | 83.1 |
Total | 108,522 | 82.1 |
3) Status of Stores for the Fiscal Year Ended February 29, 2020 (March 1, 2020 to February 28, 2021)
Number of stores as of February 28, 2019 | 926 stores |
Number of new stores | 72 stores |
Number of closed stores | 66 stores |
Number of stores as of February 29, 2020 | 932 stores |
- Overview of Consolidated Financial Position for the Period under Review (Assets)
Current assets increased by ¥14,123 million compared with the end of the previous fiscal year, due mainly to increases in cash and deposits by ¥10,360 million, merchandise and finished goods by ¥1,879 million, and
2
notes and accounts receivable - trade by ¥875 million. Non-current assets decreased by ¥892 million compared with the end of the previous fiscal year, due primarily to decreases in investment securities by ¥1,040 million, intangible assets by ¥141 million, and leased assets, net by ¥129 million, despite an increase in deferred tax assets by ¥505 million.
(Liabilities)
Current liabilities increased by ¥16,177 million compared with the end of the previous fiscal year, due mainly to increases in short-term borrowings by ¥13,206 million and notes and accounts payable - trade by ¥3,875 million. Non-current liabilities decreased by ¥670 million compared with the end of the previous fiscal year, due primarily to decreases in long-term loans payable by ¥748 million and lease obligations by ¥94 million, despite an increase in retirement benefit liability by ¥203 million.
(Net assets)
Net assets decreased by ¥2,276 million compared with the end of the previous fiscal year, due mainly to decreases in retained earnings by ¥1,929 million and valuation difference on available-for-sale securities by ¥184 million.
(3) Overview of Consolidated Cash Flows for the Period under Review
Cash and cash equivalents (hereinafter "cash") at the end of the fiscal year ended February 28, 2021 increased by ¥10,360 million compared with the end of the previous fiscal year to ¥63,088 million, due mainly to cash provided by financing activities in the amount of ¥10,098 million. Cash flows for the fiscal year ended February 28, 2021 are as follows.
(Net cash provided by (used in) operating activities)
While cash provided by operating activities was ¥14,705 million for the previous fiscal year, cash provided by operating activities amounted to ¥1,450 million for the fiscal year ended February 28, 2021, due mainly to an increase in trade payables by ¥3,947 million, a decrease in profit before income taxes by ¥8,099 million to ¥504 million, and an increase in inventories by ¥1,892 million.
(Net cash provided by (used in) investing activities)
While cash used in investing activities was ¥3,543 million for the previous fiscal year, cash used in investing activities amounted to ¥1,188 million for the fiscal year ended February 28, 2021, due mainly to proceeds from sales of investment securities of ¥830 million, purchase of property, plant and equipment of ¥1,747 million, and payments for asset retirement obligations of ¥204 million.
(Net cash provided by (used in) financing activities)
While cash used in financing activities was ¥4,068 million for the previous fiscal year, cash provided by financing activities amounted to ¥10,098 million for the fiscal year ended February 28, 2021, due mainly to a net increase in short-term borrowings of ¥13,206 million and cash dividends paid of ¥2,199 million.
3
(Reference) Cash flow-related indicators
Fiscal year | Fiscal year | Fiscal year | Fiscal year | Fiscal year | |
ended February | ended February | ended February | ended February | ended February | |
28, 2017 | 28, 2018 | 28, 2019 | 29, 2020 | 28, 2021 | |
Equity ratio (%) | 48.8 | 46.4 | 47.5 | 49.1 | 41.0 |
Equity ratio based | |||||
on market value | 78.1 | 84.3 | 83.2 | 70.6 | 69.4 |
(%) | |||||
Interest-bearing | |||||
debt to cash flows | 251.7 | 382.2 | 175.7 | 111.2 | 2,004.3 |
ratio (%) | |||||
Interest-coverage | 38.7 | 43.1 | 83.1 | 129.1 | 12.2 |
ratio (times) | |||||
Equity ratio: Equity / Total assets | |||||
Equity ratio based on market value: Market capitalization of shares / Total assets | |||||
Interest-bearing debt to cash flows ratio: Interest-bearing debt / Operating cash flows | |||||
Interest-coverage ratio: Operating cash flows / Interest payments |
(4) Outlook for Fiscal 2022
The number of patients with the coronavirus disease (COVID-19) has been increasing again since the lifting of the second declaration of a state of emergency, and this situation is expected to exert a substantial impact during the first half of fiscal 2022. Meanwhile however, vaccinations have begun, and the situation is anticipated to settle down somewhat during the second half of the fiscal year. Accordingly, we forecast net sales to increase by 23.5% year on year to ¥134,000 million, operating profit to increase by 434.8% to ¥7,400 million, ordinary profit to increase by 574.3% to ¥7,100 million, and profit to increase by 1,340.4% to ¥3,900 million.
4
2. Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen) | ||||
As of February 29, 2020 | As of February 28, 2021 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 52,727 | 63,088 | ||
Notes and accounts receivable - trade | 6,435 | 7,310 | ||
Merchandise and finished goods | 7,829 | 9,709 | ||
Raw materials and supplies | 18 | 31 | ||
Other | 830 | 1,826 | ||
Allowance for doubtful accounts | - | (0) | ||
Total current assets | 67,842 | 81,966 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 6,022 | 6,078 | ||
Machinery, equipment and vehicles, net | 3 | 2 | ||
Land | 546 | 546 | ||
Leased assets, net | 972 | 843 | ||
Other, net | 234 | 206 | ||
Total property, plant and equipment | 7,780 | 7,677 | ||
Intangible assets | 690 | 549 | ||
Investments and other assets | ||||
Investment securities | 2,769 | 1,728 | ||
Guarantee deposits | 13,017 | 12,925 | ||
Deferred tax assets | 2,308 | 2,813 | ||
Other | 794 | 804 | ||
Allowance for doubtful accounts | (247) | (279) | ||
Total investments and other assets | 18,641 | 17,992 | ||
Total non-current assets | 27,112 | 26,220 | ||
Total assets | 94,954 | 108,186 |
5
(Millions of yen)
As of February 29, 2020 | As of February 28, 2021 |
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings Accrued expenses
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Provision for sales returns
Provision for point card certificates
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for retirement benefits for directors (and other officers)
Long-term accounts payable - other
Lease obligations
Asset retirement obligations
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive
income
Total net assets
Total liabilities and net assets
20,814 | 24,688 | |||||
1,794 | 15,000 | |||||
4,698 | 5,198 | |||||
2,440 | 2,482 | |||||
276 | 88 | |||||
1,737 | 1,642 | |||||
14 | ||||||
427 | ||||||
0 | 0 | |||||
314 | 468 | |||||
3,500 | 2,599 | |||||
36,004 | 52,181 | |||||
8,515 | 7,766 | |||||
1,046 | 1,250 | |||||
134 | 126 | |||||
49 | 29 | |||||
762 | 667 | |||||
1,743 | 1,795 | |||||
4 | 2 | |||||
65 | 13 | |||||
12,323 | 11,652 | |||||
48,327 | 63,834 | |||||
3,181 | 3,181 | |||||
4,469 | 4,469 | |||||
40,969 | 39,040 | |||||
(2,088) | (2,172) | |||||
46,531 | 44,518 | |||||
183 | (0) | |||||
(22) | (21) | |||||
(65) | (144) | |||||
96 | (166) | |||||
46,627 | 44,351 | |||||
94,954 | 108,186 |
6
- Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income
(Millions of yen) | |||||||
Fiscal year ended | Fiscal year ended | ||||||
February 29, 2020 | February 28, 2021 | ||||||
Net sales | 132,163 | 108,522 | |||||
Cost of sales | 57,776 | 49,284 | |||||
Gross profit | 74,386 | 59,237 | |||||
Provision for sales returns | (0) | (0) | |||||
Gross profit - net | 74,386 | 59,237 | |||||
Selling, general and administrative expenses | |||||||
Advertising and promotion expenses | 3,073 | 3,537 | |||||
Provision for point card certificates | 314 | 153 | |||||
Transportation and storage costs | 4,142 | 4,302 | |||||
Provision of allowance for doubtful accounts | (0) | 0 | |||||
Salaries, allowances and bonuses | 18,729 | 15,982 | |||||
Provision for bonuses | 1,737 | 1,642 | |||||
Provision for bonuses for directors (and other | 427 | 14 | |||||
officers) | |||||||
Retirement benefit expenses | 140 | 161 | |||||
Provision for retirement benefits for directors (and | 4 | 4 | |||||
other officers) | |||||||
Welfare expenses | 3,404 | 3,345 | |||||
Rent expenses | 19,895 | 15,841 | |||||
Lease expenses | 143 | 123 | |||||
Other | 13,307 | 12,745 | |||||
Total selling, general and administrative expenses | 65,319 | 57,853 | |||||
Operating profit | 9,067 | 1,383 | |||||
Non-operating income | |||||||
Interest income | 1 | 1 | |||||
Royalty income | 5 | 25 | |||||
Rental income | 14 | 12 | |||||
Share of profit of entities accounted for using | 158 | - | |||||
equity method | |||||||
Subsidy income related to COVID | - | 33 | |||||
Other | 69 | 61 | |||||
Total non-operating income | 249 | 135 | |||||
Non-operating expenses | |||||||
Interest expenses | 112 | 117 | |||||
Provision of allowance for doubtful accounts | 17 | 32 | |||||
Share of loss of entities accounted for using equity | - | 287 | |||||
method | |||||||
Other | 18 | 28 | |||||
Total non-operating expenses | 148 | 465 | |||||
Ordinary profit | 9,168 | 1,052 | |||||
Extraordinary income | |||||||
Gain on sales of investment securities | - | 333 | |||||
Total extraordinary income | - | 333 |
7
(Millions of yen) | |||||
Fiscal year ended | Fiscal year ended | ||||
February 29, 2020 | February 28, 2021 | ||||
Extraordinary losses | |||||
Loss on retirement of non-current assets | 162 | 87 | |||
Impairment loss | 387 | 793 | |||
Loss on sales of shares of subsidiaries and | 10 | - | |||
associates | |||||
Other | 3 | 1 | |||
Total extraordinary losses | 564 | 882 | |||
Profit before income taxes | 8,604 | 504 | |||
Income taxes - current | 2,134 | 682 | |||
Income taxes - deferred | (557) | (448) | |||
Total income taxes | 1,576 | 233 | |||
Profit | 7,028 | 270 | |||
Profit attributable to owners of parent | 7,028 | 270 |
8
Consolidated Statements of Comprehensive Income
(Millions of yen) | |||||||
Fiscal year ended | Fiscal year ended | ||||||
February 29, 2020 | February 28, 2021 | ||||||
Profit | 7,028 | 270 | |||||
Other comprehensive income | |||||||
Valuation difference on available-for-sale | (124) | (184) | |||||
securities | |||||||
Foreign currency translation adjustment | (1) | 0 | |||||
Remeasurements of defined benefit plans, net of | (42) | (59) | |||||
tax | |||||||
Share of other comprehensive income of entities | (1) | (19) | |||||
accounted for using equity method | |||||||
Total other comprehensive income | (169) | (262) | |||||
Comprehensive income | 6,858 | 7 | |||||
Comprehensive income attributable to | |||||||
Comprehensive income attributable to owners of | 6,858 | 7 | |||||
parent | |||||||
Comprehensive income attributable to non- | - | - | |||||
controlling interests | |||||||
9
- Consolidated Statements of Changes in Net Assets Fiscal year ended February 29, 2020
(Millions of yen)
Shareholders' equity | |||||
Retained | Total | ||||
Share capital | Capital surplus | Treasury shares | shareholders' | ||
earnings | |||||
equity | |||||
Balance at beginning of | 3,181 | 4,469 | 35,811 | (2,088) | 41,373 |
period | |||||
Changes during period | |||||
Dividends of surplus | (1,869) | (1,869) | |||
Profit attributable to | 7,028 | 7,028 | |||
owners of parent | |||||
Purchase of treasury | (0) | (0) | |||
shares | |||||
Disposal of treasury | 0 | 0 | 0 | ||
shares | |||||
Net changes in items | |||||
other than shareholders' | |||||
equity | |||||
Total changes during period | - | 0 | 5,158 | (0) | 5,157 |
Balance at end of period | 3,181 | 4,469 | 40,969 | (2,088) | 46,531 |
(Millions of yen)
Accumulated other comprehensive income | |||||
Valuation | Foreign | Total | Total net assets | ||
Remeasurements | accumulated | ||||
difference on | currency | ||||
of defined | other | ||||
available-for- | translation | ||||
benefit plans | comprehensive | ||||
sale securities | adjustment | ||||
income | |||||
Balance at beginning of | 308 | (19) | (23) | 265 | 41,639 |
period | |||||
Changes during period | |||||
Dividends of surplus | (1,869) | ||||
Profit attributable to | 7,028 | ||||
owners of parent | |||||
Purchase of treasury | (0) | ||||
shares | |||||
Disposal of treasury | 0 | ||||
shares | |||||
Net changes in items | |||||
other than shareholders' | (124) | (3) | (42) | (169) | (169) |
equity | |||||
Total changes during period | (124) | (3) | (42) | (169) | 4,988 |
Balance at end of period | 183 | (22) | (65) | 96 | 46,627 |
10
Fiscal year ended February 28, 2021
(Millions of yen)
Shareholders' equity | |||||
Retained | Total | ||||
Share capital | Capital surplus | Treasury shares | shareholders' | ||
earnings | |||||
equity | |||||
Balance at beginning of | 3,181 | 4,469 | 40,969 | (2,088) | 46,531 |
period | |||||
Changes during period | |||||
Dividends of surplus | (2,199) | (2,199) | |||
Profit attributable to | 270 | 270 | |||
owners of parent | |||||
Purchase of treasury | (83) | (83) | |||
shares | |||||
Disposal of treasury | - | ||||
shares | |||||
Net changes in items | |||||
other than shareholders' | |||||
equity | |||||
Total changes during period | - | - | (1,929) | (83) | (2,013) |
Balance at end of period | 3,181 | 4,469 | 39,040 | (2,172) | 44,518 |
(Millions of yen)
Accumulated other comprehensive income | |||||
Valuation | Foreign | Total | Total net assets | ||
Remeasurements | accumulated | ||||
difference on | currency | ||||
of defined | other | ||||
available-for- | translation | ||||
benefit plans | comprehensive | ||||
sale securities | adjustment | ||||
income | |||||
Balance at beginning of | 183 | (22) | (65) | 96 | 46,627 |
period | |||||
Changes during period | |||||
Dividends of surplus | (2,199) | ||||
Profit attributable to | 270 | ||||
owners of parent | |||||
Purchase of treasury | (83) | ||||
shares | |||||
Disposal of treasury | - | ||||
shares | |||||
Net changes in items | |||||
other than shareholders' | (184) | 1 | (79) | (262) | (262) |
equity | |||||
Total changes during period | (184) | 1 | (79) | (262) | (2,276) |
Balance at end of period | (0) | (21) | (144) | (166) | 44,351 |
11
(4) Consolidated Statements of Cash Flows
(Millions of yen) | |
Fiscal year ended | Fiscal year ended |
February 29, 2020 | February 28, 2021 |
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Subsidies for employment adjustment
Share of loss (profit) of entities accounted for using equity method
Decrease (increase) in trade receivables Decrease (increase) in inventories Increase (decrease) in trade payables Increase (decrease) in provision for bonuses Increase (decrease) in provision for retirement benefits for directors (and other officers) Increase (decrease) in provision for bonuses for directors (and other officers)
Increase (decrease) in provision for sales returns Increase (decrease) in provision for loss on guarantees
Increase (decrease) in provision for point card certificates
Loss on retirement of property, plant and equipment
Loss (gain) on sales of investment securities Loss (gain) on sales of shares of subsidiaries and associates
Increase (decrease) in consumption taxes receivable payable
Increase (decrease) in retirement benefit liability Other, net
Subtotal
Interest and dividends received
Interest paid
Proceeds from subsidies for employment adjustment
Payments of retirement benefits for directors (and other officers)
Proceeds from compensation
Income taxes (paid) refund
Net cash provided by (used in) operating activities
8,604 | 504 | |||||
1,878 | 1,896 | |||||
387 | 793 | |||||
32 | ||||||
173 | ||||||
(9) | (10) | |||||
112 | 117 | |||||
- | (1,021) | |||||
(158) | 287 | |||||
(812) | (875) | |||||
2,590 | (1,892) | |||||
3,859 | 3,947 | |||||
(70) | (94) | |||||
3 | 4 | |||||
(413) | ||||||
101 | ||||||
(0) | (0) | |||||
(174) | - | |||||
238 | 153 | |||||
166 | 88 | |||||
- | (333) | |||||
10 | - | |||||
887 | (1,728) | |||||
87 | 123 | |||||
370 | 147 | |||||
18,247 | 1,726 | |||||
8 | 10 | |||||
(113) | (118) | |||||
- | 1,021 | |||||
(2) | (12) | |||||
242 | - | |||||
(3,677) | (1,176) | |||||
14,705 | 1,450 |
12
(Millions of yen) | ||||
Fiscal year ended | Fiscal year ended | |||
February 29, 2020 | February 28, 2021 | |||
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (1,148) | (1,747) | ||
Proceeds from sales of investment securities | - | 830 | ||
Loan advances | (300) | (50) | ||
Collection of loans receivable | 55 | - | ||
Purchase of intangible assets | (230) | (84) | ||
Payments of guarantee deposits | (1,081) | (674) | ||
Proceeds from refund of guarantee deposits | 1,150 | 741 | ||
Purchase of shares of subsidiaries and associates | (1,829) | - | ||
Payments for asset retirement obligations | (158) | (204) | ||
Other, net | (0) | - | ||
Net cash provided by (used in) investing activities | (3,543) | (1,188) | ||
Cash flows from financing activities | ||||
Net increase (decrease) in short-term borrowings | (1,856) | 13,206 | ||
Proceeds from long-term borrowings | 1,920 | 1,052 | ||
Repayments of long-term borrowings | (1,337) | (1,301) | ||
Purchase of treasury shares | (0) | (83) | ||
Proceeds from sales of treasury shares | 0 | - | ||
Dividends paid | (1,869) | (2,199) | ||
Repayments of installment payables | (388) | (79) | ||
Repayments of finance lease obligations | (536) | (495) | ||
Net cash provided by (used in) financing activities | (4,068) | 10,098 | ||
Net increase (decrease) in cash and cash equivalents | 7,094 | 10,360 | ||
Cash and cash equivalents at beginning of period | 45,633 | 52,727 | ||
Cash and cash equivalents at end of period | 52,727 | 63,088 |
13
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PAL Group Holdings Co. Ltd. published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 09:04:03 UTC.