Izumi : Support Documentation about the Consolidated Financial Results for the Year Ended February 28, 2021 (FY2020)

April 19, 2021 at 08:34 pm EDT

April 13, 2021

IZUMI CO., LTD.

(Stock code: 8273)

Support Documentation about the Consolidated Financial Results for the Year Ended February 28, 2021 (FY2020)

1. Summary of Financial Results

1) Consolidated Financial Results			(Unit: millions of yen)
		Year ended	Year ended	Year ending Feb.
		Feb. 29, 2020	Feb. 28, 2021	28, 2022 (Forecast)
	Operating revenue	744,349	679,778	721,400
	(YoY)	101.7%	91.3%	106.1%
	Operating profit	31,888	35,781	36,700
	(YoY)	90.4%	112.2%	102.6%
	Ordinary profit	31,979	36,078	36,800
	(YoY)	91.1%	112.8%	102.0%
	Profit attributable to owners of parent	19,953	23,053	23,500
	(YoY)	84.9%	115.5%	101.9%
	Earnings per share	¥278.45	¥321.72	¥327.95

	Profit/equity	9.6%	10.3%

	Ordinary profit/total assets	6.6%	7.4%

	Operating profit/net sales	4.5%	5.5%

	Total assets	490,106	489,692
	Net assets	226,264	245,411
	Net assets per share	¥2,991.24	¥3,244.56
	Equity ratio	43.7%	47.5%
	Total number of issued shares at the	71,657,854	71,657,094
	end of period (excl. treasury shares)

	Average number of shares during	71,658,190	71,657,606
	the period (excl. treasury shares)

	Number of consolidated subsidiaries	14	15
	Number of equity-method affiliates	5	5
2) Non-consolidated Financial Results			(Unit: millions of yen)
		Year ended	Year ended	Year ending Feb.
		Feb. 29, 2020	Feb. 28, 2021	28, 2022 (Forecast)
	Operating revenue	700,142	634,583	674,000
	(YoY)	101.9%	90.6%	106.2%
	Operating profit	26,026	29,128	30,100
	(YoY)	89.3%	111.9%	103.3%
	Ordinary profit	26,240	29,420	30,200
	(YoY)	89.9%	112.1%	102.7%
	Profit	17,053	17,461	19,400
	(YoY)	83.3%	102.4%	111.1%
	Dividends per share	¥80.00	¥83.00	¥86.00

	Total assets	423,476	423,212
	Net assets	177,249	189,151
	Equity ratio	41.9%	44.7%

									Consolidated
2. Consolidated Statements of Income
			(Unit: millions of yen)

				Year ended Feb. 29, 2020	Year ended Feb. 28, 2021

				Amount	% of Sales	Amount	% of Sales			YoY
	Operating revenue		744,349	－	679,778	－			91.3%
	Net sales		709,455	100.0%	645,672	100.0%			91.0%
	Gross profit		156,103	22.0%	147,467	22.8%			94.5%
	Operating revenue		34,893	4.9%	34,105	5.3%			97.7%
	Operating gross profit		190,997	26.9%	181,573	28.1%			95.1%
	Selling, general and		159,108	22.4%	145,791	22.6%			91.6%
	administrative expenses

	Personnel expenses		70,362	9.9%	67,805	10.5%			96.4%
	Depreciation		15,672	2.2%	15,243	2.4%			97.3%
	Amortization of goodwill			785	0.1%	737	0.1%			93.8%
	Rental expenses		11,855	1.7%	11,526	1.8%			97.2%
	Utilities expenses			8,471	1.2%	7,482	1.2%			88.3%
	Advertising expenses		16,430	2.3%	9,643	1.5%			58.7%
	Other		35,531	5.0%	33,352	5.2%			93.9%
	Operating profit		31,888	4.5%	35,781	5.5%			112.2%
	Non-operating income			1,484	0.2%	1,893	0.3%			127.6%
	Interest and dividend income		250	0.0%	243	0.0%			97.1%
	Non-operating expenses			1,393	0.2%	1,597	0.2%			114.6%
	Interest expenses			818	0.1%	700	0.1%			85.7%
	Ordinary profit		31,979	4.5%	36,078	5.6%			112.8%
	Extraordinary income			669	0.1%	3,610	0.6%			539.4%
	Extraordinary losses			2,803	0.4%	4,835	0.7%			172.5%
	Profit before income taxes		29,845	4.2%	34,852	5.4%			116.8%
	Total income taxes			9,505	1.3%	10,306	1.6%			108.4%
	Profit attributable to			385	0.1%	1,493	0.2%			387.1%
	non-controlling interests

	Profit attributable to owners of parent		19,953	2.8%	23,053	3.6%			115.5%
	1) Segment Information
				Year ended Feb. 29, 2020	Year ended Feb. 28, 2021
				Amount	% of Total	Amount	% of Total			YoY
	(Operating revenue)
	Retail operations		722,910	97.1%	659,977	97.1%			91.3%
	Retail-peripheral operations		94,949	12.8%	94,786	13.9%			99.8%
	Other			5,268	0.7%	5,297	0.8%			100.6%
	Adjustment		-78,779	-10.6%	-80,283	-11.8%			-
	Total		744,349	100.0%	679,778	100.0%			91.3%
	(Operating profit)
	Retail operations		26,607	83.4%	31,217	87.2%			117.3%
	Retail-peripheral operations			4,351	13.6%	3,458	9.7%			79.5%
	Other			1,064	3.3%	1,172	3.3%			110.2%
	Adjustment			-134	-0.4%	-67	-0.2%			-
	Total		31,888	100.0%	35,781	100.0%			112.2%
	2) Financial Results of Major Subsidiaries
	Company		Business /			Year ended Feb.	Year ended Feb.		YoY
		Segment			29, 2020	28, 2021

	YOU-ME CARD CO., LTD.		Finance	Operating revenue	9,835	9,393		95.5%
			Retail-peripheral operations	Operating profit	2,157	2,060		95.5%
	IZUMI TECHNO Co., Ltd.		Store management	Operating revenue	14,059	13,882		98.7%
			Retail-peripheral operations	Operating profit	1,371	1,549		113.0%
	IZUMI FOOD SERVICE CO., LTD.		Food services	Operating revenue	5,963	4,626		77.6%
			Retail-peripheral operations	Operating profit	312	-303		-
	Youme Mart Kumamoto Co., Ltd.			Retail	Operating revenue	27,125	27,975		103.1%
			Retail operations	Operating profit	704	1,245		176.6%
	Youme Mart Kitakyushu Co., Ltd.			Retail	Operating revenue	27,161	28,715		105.7%
			Retail operations	Operating profit	304	1,033		339.7%
	YOURS Co., Ltd.			Retail	Operating revenue	24,135	24,094		99.8%
			Retail operations	Operating profit	390	582		149.0%

									Consolidated
3. Consolidated Balance Sheets
				(Unit: millions of yen)

		As of Feb. 29, 2020		As of Feb. 28, 2021

		Amount	% of Total	Amount	% of Total	Change

	Total assets	490,106	100.0%	489,692	100.0%	- 413
	Cash and deposits	8,982	1.8%	25,306	5.2%	+ 16,324
	Notes and accounts receivable - trade	46,392	9.5%	42,497	8.7%	- 3,895

	Merchandise and finished goods	25,780	5.3%	21,661	4.4%	- 4,119
	Property, plant and equipment	337,447	68.9%	330,539	67.5%	- 6,908

	Leasehold and guarantee deposits	17,722	3.6%	16,909	3.5%	- 812
	Investment securities	11,039	2.3%	9,876	2.0%	- 1,163
	Other	42,741	8.7%	42,900	8.8%	+ 159
	Liabilities	263,841	53.8%	244,281	49.9%	- 19,560

	Notes and accounts payable - trade	49,977	10.2%	47,367	9.7%	- 2,610
	Interest-bearing liabilities	128,928	26.3%	109,414	22.3%	- 19,514
	Other	84,935	17.3%	87,499	17.9%	+ 2,564
	Net assets	226,264	46.2%	245,411	50.1%	+ 19,146

	Treasury shares	-27	0.0%	-30	0.0%	- 2
	Other	214,373	43.7%	232,526	47.5%	+ 18,152
	Non-controlling interests	11,918	2.4%	12,915	2.6%	+ 996
	*Change in the number of issued shares				Year ended		Year ended
				Feb. 29, 2020	Feb. 28, 2021

	Total number of issued shares	at the beginning of the period			71,665,200	71,665,200
		at the end of the period (A)			71,665,200	71,665,200

	Treasury shares, etc.	at the beginning of the period			6,700	7,346
		at the end of the period (B)			7,346	8,106
		(Acquired during the period)			646	760
		(Cancelled during the period)					0	0
	A－B					71,657,854	71,657,094
	(Average during the period)					71,658,190	71,657,606
4. Consolidated Statements of Cash Flows				(Unit: millions of yen)
					Year ended			Year ended
					Feb. 29, 2020		Feb. 28, 2021
	Cash flows from operating activities					+ 57,681			+ 48,320
	Profit before income taxes					+ 29,845			+ 34,852
	Non-cash loss/gain (depreciation, etc.)				+ 19,214			+ 18,311
	Increase/decrease in claims and obligations related to operating activities		+ 17,304			+ 6,045

	Income taxes and interest income					- 10,041			- 9,543
	Other					+ 1,359			- 1,345
	Cash flows from investing activities					- 16,693			- 6,633
	Capital investment related					- 16,596			- 13,921

	Other					- 96			+ 7,287
	Cash flows from financing activities					- 40,142			- 25,361

	Interest-bearing liabilities related					- 34,345			- 19,536
	Other					- 5,796			- 5,825
	Increase/decrease in cash and cash equivalents				+ 845			+ 16,324

						Non-Consolidated
5. IZUMI CO., LTD.: Income Statement and Other Financial Information

1) Statement of Income				(Unit: millions of yen)
		Year ended Feb. 29, 2020	Year ended Feb. 28, 2021

		Amount	% of Sales	Amount	% of Sales		YoY
	Operating revenue	700,142	－	634,583	－		90.6%
	Net sales	667,833	100.0%	603,041	100.0%		90.3%
	Gross profit	126,313	18.9%	117,561	19.5%		93.1%
	Operating revenue	32,309	4.8%	31,541	5.2%		97.6%
	Real estate lease revenue	8,322	1.2%	8,148	1.4%		97.9%

	Distribution center revenue	9,633	1.4%	9,517	1.6%		98.8%
	Store lease joint
	management expense	9,133	1.4%	8,851	1.5%		96.9%
	revenue
	Other	5,219	0.8%	5,024	0.8%		96.3%
	Operating gross profit	158,622	23.8%	149,102	24.7%		94.0%
	Selling, general and	132,596	19.9%	119,973	19.9%		90.5%
	administrative expenses

	Personnel expenses	50,548	7.6%	48,025	8.0%		95.0%

	Depreciation	13,550	2.0%	13,132	2.2%		96.9%
	Rental expenses	10,083	1.5%	9,751	1.6%		96.7%
	Store management expenses	10,251	1.5%	10,135	1.7%		98.9%
	Utilities expenses	6,591	1.0%	5,824	1.0%		88.4%
	Advertising expenses	14,362	2.2%	8,108	1.3%		56.5%
	Other	27,208	4.1%	24,996	4.1%		91.9%

	Operating profit	26,026	3.9%	29,128	4.8%		111.9%
	Non-operating income	1,396	0.2%	1,571	0.3%		112.6%

	Interest and dividend income	333	0.0%	335	0.1%		100.8%
	Non-operating expenses	1,181	0.2%	1,280	0.2%		108.3%

	Interest expenses	822	0.1%	727	0.1%		88.5%
	Ordinary profit	26,240	3.9%	29,420	4.9%		112.1%
	Extraordinary income	105	0.0%	579	0.1%		549.3%
	Extraordinary losses	1,826	0.3%	4,455	0.7%		243.9%

	Profit before income taxes	24,519	3.7%	25,544	4.2%		104.2%
	Profit	17,053	2.6%	17,461	2.9%		102.4%
2) Sales Information
		Year ended Feb. 29, 2020	Year ended Feb. 28, 2021
		Amount	% of Total	Amount	% of Total		YoY
	(By Product)
	Clothing	68,525	10.3%	47,689	7.9%		69.6%

	Household goods	48,352	7.2%	42,165	7.0%		87.2%
	Foods	228,914	34.3%	231,751	38.4%		101.2%
	Directly managed stores total	345,792	51.8%	321,606	53.3%		93.0%
	Tenants	247,397	37.0%	208,863	34.6%		84.4%
	X-SELL Division	14,727	2.2%	11,706	1.9%		79.5%
	Product supply, etc.	59,915	9.0%	60,866	10.1%		101.6%

	Total	667,833	100.0%	603,041	100.0%		90.3%
	(By Region)

	Chugoku	272,346	40.8%	252,960	41.9%		92.9%
	Kyushu	260,314	39.0%	224,469	37.2%		86.2%
	Other	135,171	20.2%	125,611	20.8%		92.9%
	Total	667,833	100.0%	603,041	100.0%		90.3%

YoY Sales at Existing Stores
(Excluding X-SELL Division)

4) Gross Profit Ratio

Average Number of Employees during the Period

		Non-Consolidated

	Year ended Feb. 29, 2020	Year ended Feb. 28, 2021
Clothing	95.3%	70.7%

Household goods	100.9%	87.1%
Foods	99.8%	101.3%
Directly managed stores total	99.1%	93.5%
Tenants	99.3%	84.2%

Total	99.1%	89.7%
Chugoku	99.5%	93.0%
Kyushu	99.0%	87.2%
Number of customers	98.5%	89.4%

Average spent per customer	100.6%	104.5%
Average spent per item	100.6%	97.4%
Number of purchases	100.0%	107.3%

	Year ended Feb. 29, 2020	Year ended Feb. 28, 2021
Clothing	38.1%	37.7%

Household goods	32.3%	33.2%
Foods	26.5%	27.7%
Directly managed stores total	29.6%	29.9%
Tenants	8.0%	8.6%

X-SELL Division	25.8%	25.8%
Product supply, etc.	0.6%	0.5%
Total	18.9%	19.5%
(Loss rate)

Clothing	10.8%	9.8%
Household goods	3.2%	2.5%
Foods	3.1%	2.5%
Directly managed stores total	4.6%	3.5%
(Inventory turnover in days)
Clothing	72.2	75.9

Household goods	83.9	83.1
Foods	10.4	9.2
Directly managed stores total	32.7	28.5

	Year ended Feb. 29, 2020	Year ended Feb. 28, 2021
Full employees	2,910	2,968
Semi-full employees (8-hour equivalent)	6,438	5,971
Part-time employees (8-hour equivalent)	4,351	3,973
Total	13,699	12,912
(% of Total)
Full employees	21.2%	23.0%

Semi-full employees (8-hour equivalent)	47.0%	46.2%
Part-time employees (8-hour equivalent)	31.8%	30.8%
Total	100.0%	100.0%
(Indicators: Directly managed stores and X-SELL Division)

Net sales per employee	26,317 thousand yen	25,815 thousand yen
Gross profit per employee	7,752 thousand yen	7,683 thousand yen
Personnel expenses per employee	3,690 thousand yen	3,720 thousand yen
Personnel expenses/sales ratio	14.0%	14.4%

Personnel expenses/gross profit ratio	47.6%	48.4%

Non-Consolidated

Stores and Capital Investment

Store Information as of February 28, 2021

(Excluding X-SELLstand-alone type stores)

Shareholder Information (Excluding shares less than one unit)

	As of Feb. 29, 2020	As of Feb. 28, 2021
New stores	5	0
(X-SELLstand-alone type stores)	0	0
Stores closed	6	2
Number of stores at the end of the period	111	109
(X-SELLstand-alone type stores)	9	7
Sales floor area at the end of period	1,150,996 ㎡	1,128,780 ㎡
Capital investment (construction basis)	13,622 million yen	5,023 million yen
Capital investment (payment basis)	12,622 million yen	8,797 million yen

	Stores	Sales Share
(By Store Area)
20,000 m2 or more	18	50.3%
Up to 20,000 m2	24	26.1%
Up to 10,000 m2	30	14.8%
Less than 3,000 m2	30	8.9%
Total	102	100.0%
(By Store Age)
10 years or less	33	23.8%
20 years or less	20	42.3%
30 years or less	37	28.0%
More than 30 years	12	5.9%

Total	102	100.0%

	As of Feb. 29, 2020	As of Feb. 28, 2021
(Number of shareholders)
Financial instruments traders	34	30
Foreign investors	273	241
Financial institutions	50	40
Other domestic companies	283	298
Individuals, etc.	5,188	6,382
Total	5,828	6,991
(Percentage held)
Financial instruments traders	3.0%	2.1%
Foreign investors	11.9%	8.8%
Financial institutions	25.4%	28.8%
Other domestic companies	42.9%	43.0%
Individuals and treasury shares	16.8%	17.3%
Total	100.0%	100.0%

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Izumi Co. Ltd. published this content on 19 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 00:33:11 UTC.

	1st Jan change	Capi.
IZUMI CO., LTD.	-8.32%	1.52B
WESFARMERS LIMITED	+11.54%	48.62B
EL PUERTO DE LIVERPOOL, S.A.B. DE C.V.	+13.45%	11.95B
ZHEJIANG CHINA COMMODITIES CITY GROUP CO., LTD.	+7.65%	5.96B
CENTRAL RETAIL CORPORATION	-21.95%	5.28B
RYOHIN KEIKAKU CO., LTD.	+6.74%	4.15B
WOOLWORTHS HOLDINGS LIMITED	-16.76%	2.97B
BERLI JUCKER	-10.00%	2.47B
MAGAZINE LUIZA S.A.	-43.10%	1.75B
LOTTE SHOPPING CO., LTD.	-12.13%	1.37B

1st Jan change

Capi.

IZUMI CO., LTD.

-8.32%

1.52B

WESFARMERS LIMITED

+11.54%

48.62B

EL PUERTO DE LIVERPOOL, S.A.B. DE C.V.

+13.45%

11.95B

ZHEJIANG CHINA COMMODITIES CITY GROUP CO., LTD.

+7.65%

5.96B

CENTRAL RETAIL CORPORATION

-21.95%

5.28B

RYOHIN KEIKAKU CO., LTD.

+6.74%

4.15B

WOOLWORTHS HOLDINGS LIMITED

-16.76%

2.97B

BERLI JUCKER

-10.00%

2.47B

MAGAZINE LUIZA S.A.

-43.10%

1.75B

LOTTE SHOPPING CO., LTD.

-12.13%

1.37B

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3,318 ^JPY	-0.30%		-1.13%	-8.32%

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Izumi : Support Documentation about the Consolidated Financial Results for the Year Ended February 28, 2021 (FY2020)

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