Summary of Consolidated Financial Results

for the Nine Months Ended November 30, 2021(Q3 FY2022)

(Based on Japanese GAAP)

January 12, 2022

Company name:

ABC-MART, INC.

Stock exchange listing:

Tokyo

Stock code:

2670

URL

http://www.abc-mart.co.jp/ir/

Representative:

President and Representative Director

Minoru Noguchi

Inquiries:

Director, Corporate Planning Office Manager Jo Kojima

TEL 03-3476-5452

Scheduled date to file Quarterly Securities Report:

January 13, 2022

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended November 30, 2021 (from March 1, 2021 to November 30, 2021)

(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 November 30, 2021

180,571

12.6

19,845

33.5

20,475

29.1

14,394

40.0

Nine months ended November 30, 2020

160,430

(21.0)

14,867

(55.6)

15,862

(53.8)

10,282

(55.3)

(Note) Comprehensive income:

Nine months ended November 30, 2021 16,473 million yen (18.8%)

Nine months ended November 30, 2020 13,867 million yen (△28.3%)

Earnings per share

Diluted earnings per share

Yen

Yen

Nine months ended November 30, 2021

174.40

-

Nine months ended November 30, 2020

124.57

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of November 30, 2021

316,718

281,385

88.4

3,391.31

As of February 28, 2021

317,832

278,943

87.3

3,363.55

(Reference) Shareholders' Equity:

As of November 30, 2021

279,916 million yen

As of February 28, 2021

277,624 million yen

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 February 28, 2021

-

85.00

-

85.00

170.00

Year ending February 28, 2022

-

85.00

-

Year ending February 28, 2022 (Forecast)

85.00

170.00

(Note) Revisions to dividend forecasts published most recently:

No

3. Forecast of consolidated financial results for the year ending February 28, 2022 (from March 1, 2021 to February 28, 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

254,600

15.6

30,400

55.8

31,200

46.6

20,950

9.0

253.82

(Note) Revisions to financial forecasts published most recently: No

1

4. Notes

  1. Changes in significant subsidiaries during the nine months ended November 30, 2021 (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

Yes

(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:

No

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, 2021

82,539,646

shares

As of February 28, 2021

82,539,646

shares

Number of treasury shares at the end of the period

As of November 30, 2021

470

shares

As of February 28, 2021

470

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Nine months ended November 30, 2021

82,539,176

shares

Nine months ended November 30, 2020

82,539,176

shares

THIS QUARTERLY CONSOLIDATED FINANCIAL RESULTS STATEMENT IS EXEMPT FROM THE QUARTERLY REVIEW PROCEDURES.

FORWARD LOOKING STATEMENTS AND OTHER SPECIAL ITEMS

The forecast for the year ending February 28, 2022 is based on ABC-MART, INC.'s hypotheses, plans and estimates at the date of publication. It is possible that some uncertain factors will cause the Company's future performance to differ significantly from the contents of forecast.

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of February 28, 2021

As of November 30, 2021

Assets

Current assets

Cash and deposits

138,669

126,721

Notes and accounts receivable - trade

10,275

14,807

Securities

7,957

9,944

Inventories

63,356

65,399

Other

4,997

5,209

Allowance for doubtful accounts

(34)

(67)

Total current assets

225,222

222,013

Non-current assets

Property, plant and equipment

Buildings and structures

33,283

35,424

Accumulated depreciation

(17,900)

(18,829)

Buildings and structures, net

15,382

16,594

Tools, furniture and fixtures

16,091

17,212

Accumulated depreciation

(11,092)

(12,444)

Tools, furniture and fixtures, net

4,998

4,767

Land

17,078

16,518

Construction in progress

221

2,910

Other

457

462

Accumulated depreciation

(391)

(400)

Other, net

66

62

Total property, plant and equipment

37,748

40,854

Intangible assets

Trademark right

740

486

Goodwill

1,199

695

Other

3,126

3,805

Total intangible assets

5,066

4,987

Investments and other assets

Investment securities

17,161

16,601

Shares of subsidiaries and associates

2,563

2,563

Long-term loans receivable

1,495

1,471

Leasehold and guarantee deposits

25,453

25,503

Deferred tax assets

2,523

2,241

Other

613

496

Allowance for doubtful accounts

(16)

(16)

Total investments and other assets

49,795

48,862

Total non-current assets

92,610

94,704

Total assets

317,832

316,718

3

(Millions of yen)

As of February 28, 2021

As of November 30, 2021

Liabilities

Current liabilities

Notes and accounts payable - trade

14,468

15,279

Short-term borrowings

1,232

1,765

Income taxes payable

8,720

2,496

Provision for bonuses

996

1,798

Provisions

237

197

Asset retirement obligations

152

178

Notes payable - facilities

782

829

Other

10,554

10,834

Total current liabilities

37,145

33,380

Non-current liabilities

Retirement benefit liability

552

790

Asset retirement obligations

359

348

Other

831

813

Total non-current liabilities

1,743

1,952

Total liabilities

38,888

35,332

Net assets

Shareholders' equity

Share capital

19,972

19,972

Capital surplus

24,043

24,043

Retained earnings

224,811

225,175

Treasury shares

(2)

(2)

Total shareholders' equity

268,825

269,189

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

2,229

3,069

Foreign currency translation adjustment

6,569

7,657

Total accumulated other comprehensive income

8,799

10,727

Non-controlling interests

1,318

1,469

Total net assets

278,943

281,385

Total liabilities and net assets

317,832

316,718

4

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

November 30, 2020

November 30, 2021

Net sales

160,430

180,571

Cost of sales

78,907

87,601

Gross profit

81,523

92,970

Selling, general and administrative expenses

Packing and transportation costs

2,656

2,812

Advertising expenses

4,232

4,733

Storage costs

2,335

2,121

Remuneration, salaries and allowances for directors (and other

17,522

19,074

officers)

Bonuses

379

388

Provision for bonuses

1,716

1,797

Retirement benefit expenses

374

550

Legal and other welfare expenses

2,928

2,957

Rent expenses on land and buildings

18,173

20,166

Depreciation

3,744

4,025

Utilities expenses

1,496

1,530

Commission expenses

4,317

5,066

Taxes and dues

1,134

1,232

Amortization of goodwill

577

583

Other

5,063

6,082

Total selling, general and administrative expenses

66,655

73,124

Operating profit

14,867

19,845

Non-operating income

Interest income

48

49

Dividend income

304

90

Foreign exchange gains

51

8

Rent Income for house

707

783

Advertising medium income

25

25

Other

344

180

Total non-operating income

1,481

1,139

Non-operating expenses

Interest expenses

3

18

Rental expenses

362

463

Other

120

27

Total non-operating expenses

486

509

Ordinary profit

15,862

20,475

5

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ABC-MART Inc. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 05:30:05 UTC.