Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Fiscal Year ended February 28, 2022
(Under Japanese GAAP)
Company name
Listings
Security code
URL
Representative
Contact
Telephone

Mr Max Holdings Ltd.

April 14, 2022

Tokyo Stock Exchange, Fukuoka Stock Exchange
8203
https://www.mrmax.co.jp/
Yoshiaki Hirano, President
Hirokazu Ishii, Director and Executive Officer in charge of Finance Division+81-92-623-1111

Scheduled dates:
Ordinary General Meeting of Shareholders
Commencement of dividend payments
Submission of annual securities report
Supplementary materials to the financial results
Earnings results briefing

May 26, 2022
May 27, 2022
May 26, 2022
Available
Yes (targeted at institutional investors and analysts)(Amounts rounded down to the nearest million)

1. Consolidated Financial Results for the Fiscal Year ended February 28, 2022 (March 1, 2021 to February 28, 2022)(1) Operating Results(Percentage figures represent year-on-year changes)

Operating revenue
Year ended February 28,2022
Year ended February 28,
2021
Note: Comprehensive income:Operating profit

Profit (loss) attributable toowners of parent

Ordinary profit

million yen%

million yen%

million yen%

million yen%

124,831

(5.3)

4,487

(25.4)

4,346(24.4)

2,853(19.5)

131,789

7.7

6,011

145.3

5,748

156.8

3,542

168.0

Year ended February 28, 2022: 2,867 million yen [(20.2%)]
Year ended February 28, 2021: 3,595 million yen [180.3%]
Earnings per share – Ratio of profit to total Ratio of ordinary
equityprofit to total assets
fully diluted

Earnings per share
yenYear ended February 28,2022
Year ended February 28,
2021

yen

Ratio of operating
profit to operating
revenue

%

%

%

85.97

—

9.9

5.3

3.6

106.73

—

13.5

6.9

4.6

Reference: Share of profit (loss) of entities accounted for using the equity method:Year ended February 28, 2022:– million yen

Year ended February 28, 2021:– million yen(2) Financial Position
Total assets
February 28, 2022
February 28, 2021
Reference: Total equity

Net assets

Total equity ratio

Net assets per share

million yen

million yen%

yen

82,21682,30629,70627,86336.1
33.8

894.76838.36

February 28, 2022: 29,699 million yen

February 28, 2021: 27,828 million yen(3) Cash Flows
Cash flows from operating
activities

Year ended February 28,2022
Year ended February 28,
2021

Cash flows from investing
activities

Cash flows from financing
activities

Cash and cash equivalents at
end of period

million yen

million yen

million yen

million yen

3,516(2,774)

(736)

2,887

9,337

(1,468)(7,535)2,874

2. Dividends
Dividend per shareEnd-first
quarterEnd-second
quarteryenYear ended February 28,
2021
Year ended February 28,2022
Year ending February 28,
2023 (forecast)

Ratio ofEnd-third
quarteryen

Fiscal yearTotal dividends
Payout ratio dividends to net
Annual total(Annual)(Consolidated)assetsend(Consolidated)

yen

yen

yen

million yen

%

%

—

0.00

—

31.00

31.00

1,029

29.0

3.9

—

0.00

—

27.00

27.00

896

31.4

3.1

—

0.00

—

27.00

27.00

29.9

3. Forecast of Consolidated Earnings for the Fiscal Year ending February 28, 2023 (March 1, 2022 to February 28, 2023)(Percentage figures represent year-on-year changes)

Operating revenue
First half
Full year

Operating profit

Profit (loss) attributableto owners of parent

Ordinary profit

Earnings per
sharemillion yen%

million yen%

million yen%

million yen%

yen

64,800127,800

2.7
2.4

3,000
5,000

15.0
11.4

2,900
4,800

13.3
10.4

1,800
3,000

10.0
5.1

54.23
90.38

* Notes(1) Changes affecting the consolidation status of significant subsidiaries during the period: None
Newly included: ― (company name), Excluded: ― (company name)(2) Changes in accounting policy, changes in accounting estimates, and retrospective restatements:
1) Changes in accordance with amendments to accounting standards: None
2) Changes other than the above 1): None
3) Changes in accounting estimates: None
4) Retrospective restatements: None
(3) Number of shares issued (common stock)1) Number of shares issued at end of period (including treasury shares):February 28, 2022
39,611,134 shares
February 28, 2021
39,611,134 shares
2) Number of treasury shares held at end of period:
February 28, 2022
6,418,171 shares
February 28, 2021
6,417,385 shares
3) Average number of shares outstanding during the period:
Year ended February 28, 2022:
33,193,360 sharesYear ended February 28, 2021:
33,194,331 shares* Review status
This report is exempt from an audit by a certified public accountant or audit firm.
* Appropriate Use of Earnings Forecasts and Other Important Information
The above forecasts, which constitute forward-looking statements, are based on information available to the Company as of the date of the release of this document.
The actual results may differ materially from the above forecasts due to a range of factors. For the assumptions underlying the earnings forecasts and importantnotes on the use of the earnings forecasts, please refer to page 3 of the accompanying materials.

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

Accompanying Materials
Contents

1. Overview of Operating Results and Financial Condition .............................................................................................................. 2(1) Overview of Operating Results for the Fiscal Year under Review............................................................................................ 2(2) Overview of Financial Condition for the Fiscal Year under Review ........................................................................................ 3(3) Basic Policy on Profit Distribution and Dividends for the Current and Next Fiscal Years ....................................................... 4
2. Status of the Corporate Group ....................................................................................................................................................... 5
3. Basic Policy Regarding Selection of Accounting Standards ......................................................................................................... 5
4. Consolidated Financial Statements and Main Notes ..................................................................................................................... 6(1) Consolidated Balance Sheet ..................................................................................................................................................... 6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ................................................... 8
Consolidated Statement of Income .................................................................................................................................... 8
Consolidated Statement of Comprehensive Income .......................................................................................................... 9(3) Consolidated Statement of Changes in Equity ........................................................................................................................ 10(4) Consolidated Statement of Cash Flows .................................................................................................................................. 11(5) Notes on the Consolidated Financial Statements .................................................................................................................... 12(Notes on the Going Concern Assumption) ..................................................................................................................... 12(Segment Information)..................................................................................................................................................... 12(Per Share Information) ................................................................................................................................................... 13(Significant Subsequent Events) ...................................................................................................................................... 13-1-

1. Overview of Operating Results and Financial Condition

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

(1) Overview of Operating Results for the Fiscal Year under Review
1) Operating results
During the fiscal year ended February 28, 2022, the Japanese economy faced challenging conditions with weak businessactivities and depressed consumer sentiment due to the prolonged period of sheltering at home amid the resurgence of COVID19 as well as hikes in crude oil and raw material prices.
In such an environment, the Group strived to fulfill its function as a social infrastructure that supports people's everyday
lives. By leveraging our strength as an operator of general discount stores, we offered daily necessities and a wide range ofother products at low prices to help support customers' lives. We also strove to provide one-stop shopping that allows customers
to shop quickly in one place. To create a more convenient shopping environment, we expanded our range of products in
response to customers' changing lifestyles and organized product displays to make shopping easier. At the same time, we havegiven top priority to the safety and peace of mind of customers and employees, and continued to take measures against the
spread of COVID-19. This includes periodic disinfection of store facilities and temperature checks and self-reporting of thehealth condition before work.
During the fiscal year under review, we took on challenges to transform into an "everyday low price (EDLP)" discount store
that offers customers consistently low prices. In March 2021, we lowered the prices of 5,000 items and discontinued themonthly discount sale for our credit card members. We also focused on promotional activities using apps and social media tostrengthen the EDLP measures.
Sales of existing stores for the fiscal year under review decreased 6.1% year on year due to the saturation of demand caused
by COVID-19. Gross profit margin declined by 0.3% from the previous fiscal year to 22.3%, but improved by 1.0% comparedwith the pre-COVID-19 level of 21.3% two years ago amid rising costs of raw materials and transportation. This improvementof gross profit margin was made possible by reviewing excessive sales campaigns and discount sales exclusively for our credit
card members.
By product category, sales struggled in the home appliances and apparel categories, whereas sales were strong in the life
style category, driven by pet supplies and gardening supplies, and in the food category where confectionery, alcoholic
beverages, and seasonings sold well, reflecting the prolonged period of sheltering at home. The HBC category also performed
well, with sales of non-woven facial masks and oral care products growing, backed by the gradual increase in opportunities forpeople to go out.
In terms of store development, we opened Mr Max Itoshima store in December 2021. Since its opening, sales have exceeded
the target. With this store included, we operate 58 stores in total as of the end of February 2022.
As part of our store strategy, we renovated existing stores to help improve profitability.
As a result, sales of all stores decreased 5.5% year on year and the operating revenue (which consists of net sales, real estatelease revenue, and other operating revenue) for the fiscal year ended February 28, 2022 was 124,831 million yen (down 5.3%
year on year).
In terms of costs, selling, general and administrative expenses were 27,181 million yen (down 1.5% year on year). Factors
contributing to the decrease include a decrease in man-hours at stores and a decrease in sales commission, such as credit card
payment fees. The Company posted an operating profit of 4,487 million yen (down 25.4% year on year), an ordinary profit of
4,346 million yen (down 24.4% year on year), and a profit attributable to owners of parent of 2,853 million yen (down 19.5%
year on year). However, as a result of improved gross profit margin and strict cost reductions during the past two years,
operating profit and ordinary profit grew approximately 1.8 times and 1.9 times, respectively, as compared with the same
period two years ago, which shows that we have improved the income and expenditure balance.
(Net sales by product category)Category

Year ended February 28, 2021
Amount (million yen)

Year ended February 28, 2022

Share

Amount (million yen)

Share

Home appliances

19,48415.4%

17,522

14.6%

Apparel

7,918

6.2%

6,897

5.8%

Life style

17,16313.5%

16,502

13.8%

Home living

12,543

9.9%

11,611

9.7%

HBC

25,32520.0%

24,405

20.3%

Foods

44,48335.0%

42,992

35.8%

Other

4

0.0%

53

0.0%

(10)

–

(10)

–

126,913100.0%

119,975

100.0%

Elimination
Total

-2-

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

2) Forecast for the next fiscal year
The forecast for the next fiscal year is as follows.
(Earnings forecasts)
Operating revenue
127.8 billion yen
Operating profit
5.0 billion yen
Ordinary profit
4.8 billion yen
Profit attributable to owners of parent
3.0 billion yen
Earnings per share
90.38 yen
* The estimated earnings per share is calculated using the number of shares issued at the end of the fiscal year ended
February 28, 2022 (excluding treasury shares), without considering purchases of treasury shares, requests for purchaseor additional purchase of fractional shares, bonuses for directors, and other factors.
* The above forecasts include management decisions and assumptions based on information available as of the filing date.
Accordingly, actual business results may differ materially from the above forecasts due to changes in given conditions.
(2) Overview of Financial Condition for the Fiscal Year under Review
1) Assets, liabilities, and net assets(Total assets)
Total assets as of February 28, 2022 were 82,216 million yen, a decrease of 90 million yen from the end of the previous
fiscal year (February 28, 2021). This decrease is mainly attributable to a decrease of 1,038 million yen in buildings andstructures and a decrease of 322 million yen in leased assets.
(Liabilities)
Liabilities as of February 28, 2022 were 52,510 million yen, a decrease of 1,932 million yen from the end of the previous
fiscal year (February 28, 2021). This decrease is mainly attributable to a decrease of 1,540 million yen in income taxes payable.
(Net assets)
Net assets as of February 28, 2022 were 29,706 million yen, an increase of 1,842 million yen from the end of the previous
fiscal year (February 28, 2021). This increase is mainly attributable to an increase of 1,824 million yen in retained earnings.
2) Cash flows(Cash flow from operating activities)
Net cash provided by operating activities amounted to 3,516 million yen (down 62.3% year on year). This is mainly
attributable to profit before income taxes of 4,307 million yen and depreciation of 2,340 million yen, which were partially
offset by income tax paid of 2,904 million yen.
(Cash flow from investing activities)
Net cash used in investing activities amounted to 2,774 million yen (up 89.0% year on year). This is mainly attributable topayments of leasehold and guarantee deposits of 1,986 million yen and purchase of property, plant and equipment of 642
million yen.
(Cash flow from financing activities)
Net cash used in financing activities amounted to 736 million yen (down 90.2% year on year). This is mainly attributable torepayments of long-term borrowings of 7,506 million yen, dividends paid of 1,026 million yen, and repayments of leaseliabilities of 707 million yen.
As a result, the cash and cash equivalents at the end of the fiscal year ended February 28, 2022 amounted to 2,887 million
yen.

-3-

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

(Changes in cash flow indicators)
FYE
Feb 2018

FYE
Feb 2019

FYE
Feb 2020

FYE
Feb 2021

FYE
Feb 2022

Shareholders' equity ratio (%)

30.6

30.0

29.5

33.8

36.1

Shareholders' equity ratio based on market value
(%)

33.1

19.9

14.8

29.1

23.1

Interest-bearing debt/cash flow ratio (years)

4.7

9.8

7.8

2.4

6.6

Interest coverage ratio (times)

21.9

13.3

16.5

44.1

18.7

(Notes) Shareholders' equity ratio: Shareholders' equity/Total assets
Shareholders' equity ratio based on market value: Market capitalization/Total assets *1
Interest-bearing debt/cash flow ratio: Interest-bearing debt/Cash flow *2, 3Interest coverage ratio: Cash flow/Interest payments *2, 4
*1
*2
*3
*4

Market capitalization is calculated based on the number of shares issued, excluding treasury shares.
The figure for net cash provided by operating activities in the consolidated statement of cash flows is used as
cash flow.
Interest-bearing debt refers to the sum of all liabilities in the consolidated balance sheet on which interest is
paid.
The figure for interest paid in the consolidated statement of cash flows is used as interest payments.

(3) Basic Policy on Profit Distribution and Dividends for the Current and Next Fiscal Years
1) Basic policy on profit distribution
The Company aims to pay dividends with a target payout ratio of 30% while comprehensively considering such factors as
the Company's operating results, financial position, and future outlook.
Internal reserves will be used mainly for construction and renovation of stores and shopping centers, investment in
information systems for logistics and purchasing, and human resources management activities such as recruitment, training andredeployment to enhance our organizational capabilities, with a view to expanding our business and strengthening businessfoundation.
2) Shareholder returns for the fiscal year ended February 28, 2022
The Company plans to pay a year-end dividend of 27 yen per share for the fiscal year ended February 28, 2022.
The scheduled date of commencement of dividend payments is May 27, 2022.
3) Shareholder returns for the fiscal year ending February 28, 2023
The Company will decide on dividends and use internal reserves in accordance with the basic policy as mentioned above.
The Company plans to pay a year-end dividend of 27 yen per share.

-4-Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

2. Status of the Corporate GroupThe Group is engaged in retail and associated businesses.
The main businesses of the Group are as follows.
1) Home appliances

Sale of video equipment (e.g., TVs), audio products, communication
devices, kitchen appliances (e.g., refrigerators), household appliances (e.g.,
washers), lighting fixtures, seasonal home appliances (e.g., airconditioners), etc.

2) ApparelSale of practical clothing, kids and baby clothing, men's clothing, women's
clothing, shoes, accessories, watches and clocks, jewelry, etc.

3) Life style

Sale of pet supplies, bicycles, sports gear, automobile supplies, toys,
stationery, gardening and DIY supplies, etc.

4) Home living

Sale of kitchen appliances, daily sundries, interior goods and storage
organizers, etc.

5) HBC (Health and Beauty Care)

Sale of detergents, cosmetics, paper and cotton products, pharmaceuticalproducts, etc.

6) Foods

Sale of confectionery, soft drinks, processed foods, rice, alcoholic
beverages, daily foods, etc.

7) Store leasing in shopping centers

3. Basic Policy Regarding Selection of Accounting Standards
The Group applies Japanese GAAP to ensure comparability with other domestic competitors.

-5-

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

4. Consolidated Financial Statements and Main Notes(1) Consolidated Balance Sheet

As of
February 28, 2021

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise
Supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
VehiclesAccumulated depreciation
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Lease assets, net
Total non-current assets
Intangible assets
Leased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Leasehold deposits
Guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-6-(Millions of yen)
As ofFebruary 28, 2022

2,874
3,075
9,662
51
1,142
16,806

2,887
2,645
9,866
40
1,573
17,01245,856(31,378)
14,477
1
(1)
0
7,892
(6,446)
1,445
31,0935,461(2,046)3,414
50,43046,226(32,787)
13,439
1
(1)
0
7,967
(6,739)1,227
31,0935,461(2,368)3,092
48,852

370
699
1,069

229
806
1,036

324
–
1,819
3,787
7,188
948
(67)
13,99965,50082,306

345
19
1,688
3,821
8,614
881
(56)
15,31465,203
82,216

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022
As ofFebruary 28, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Current portion of long-term borrowings
Current portion of bonds payable
Lease liabilities
Income taxes payable
Provision for bonuses
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Lease liabilities
Retirement benefit liability
Asset retirement obligations
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
Non-controlling interests
Total net assets
Total liabilities and net assets-7-(Millions of yen)
As ofFebruary 28, 2022

7,446
7,715
6,995
–
690
1,901
984
–
4,382
30,115

7,412
7,477
5,842
286
702
361
861
5
3,767
26,717–
15,169
3,213
1,063
1,144
3,735
24,32754,443

1,714
15,316
2,937
1,082
1,162
3,578
25,79352,510

10,2297,980
12,256(2,602)
27,864

10,2297,980
14,081(2,603)29,688

27
0
(64)
(36)
35
27,86382,306

53
5
(47)
10
6
29,706
82,216

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022
(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income(Consolidated Statement of Income)(Millions of yen)
Year ended
Year ended
February 28, 2021
February 28, 2022
Net sales
126,913
119,975
Cost of sales
Beginning merchandise inventory
8,928
9,666
Cost of purchased goods
98,91293,368
Total
107,840
103,034
Ending merchandise inventory
9,648
9,871
Cost of goods sold98,191
93,162Gross profit
28,721
26,812
Operating revenue
Real estate lease revenue
3,882
3,832
Other operating revenue
993
1,023
Total operating revenue
4,875
4,856
Operating gross profit
33,597
31,668Selling, general and administrative expenses
27,58527,181
Operating profit
6,011
4,487
Non-operating income
Interest income
38
32
Dividend income
11
12
Reversal of allowance for doubtful accounts–
31
Income from leaving tenants
17
34
Dividend income of insurance
13
–
Other
49
43
Total non-operating income
129153
Non-operating expenses
Interest on bonds–
0Interest expenses
209
191
Bond issuance costs–
23
Provision of allowance for doubtful accounts
67–
Loss on discontinuation of a systems development–
16
Special investigation expenses
97
–
Other
18
63
Total non-operating expenses
393
295
Ordinary profit
5,748
4,346
Extraordinary income
Insurance claim income
1405
Total extraordinary income
1405Extraordinary losses
Loss on disaster
95
17
Loss on retirement of non-current assets
55
17
Loss on sale of investment securities–
0
Impairment losses
263
8
Total extraordinary losses
414
44Profit before income taxes
5,473
4,307
Income taxes - current
2,101
1,362
Income taxes - deferred
(166)
127
Total income taxes
1,935
1,490
Profit3,538
2,817
Loss attributable to non-controlling interests(4)(36)
Profit attributable to owners of parent
3,542
2,853

-8-

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022
(Consolidated Statement of Comprehensive Income)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-9-

Year ended
February 28, 2021
3,538(Millions of yen)
Year ended
February 28, 2022
2,817

33
0
22
57
3,595

25
7
16
50
2,867

3,599
(4)

2,900
(33)

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

(3) Consolidated Statement of Changes in Equity
Year ended February 28, 2021 (From March 1, 2020 to February 28, 2021)

Treasury shares

Total
shareholders'equityValuationdifference on
available-for-salesecurities

Deferred gains orlosses on hedges

Foreign currencytranslation
adjustment

Remeasurementsof defined
benefit plans

Total accumulated
othercomprehensive
income

7,980

9,178

(2,601)

24,787

(6)

–

–

(86)

(93)

–

Total net assets

Retainedearnings

10,229Non-controllinginterests

Capital surplus

Balance at beginning of
periodAccumulated other comprehensive income

Share capital

Shareholders' equity(Millions of yen)

24,694

Changes during period
Dividends of surplus

(464)

(464)

(464)

Profit attributable toowners of parent

3,542

3,542

3,542

(0)

(0)

(0)

0

0

0

Purchase of treasury
shares
Disposal of treasury
shares0

Net changes in items
other thanshareholders' equity

0

22

56

35

92

–

0

3,078

(0)

3,077

33

–

0

22

56

35

3,169

10,2297,980

12,256(2,602)

27,864

27

–

0

(64)

(36)

35

27,863

Year ended February 28, 2022 (From March 1, 2021 to February 28, 2022)

Capital surplus

Retainedearnings

Treasury shares

Total
shareholders'equityValuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedgesForeign currencytranslation
adjustment

Remeasurementsof defined
benefit plans

Total accumulated
othercomprehensive
incomeBalance at beginning of
periodAccumulated other comprehensive income

Share capital

Shareholders' equity(Millions of yen)

10,2297,980

12,256(2,602)

27,864

27

–

0

(64)

(36)

35

Total net assets

Balance at end of period–

Non-controllinginterests

Total changes during period

33

27,863

Changes during period
Dividends of surplus(1,029)(1,029)(1,029)Profit attributable toowners of parent

2,853

2,853

2,853

(0)

(0)

(0)

0

0

0

Purchase of treasury
shares
Disposal of treasury
shares0

Net changes in items
other thanshareholders' equity
Total changes during period
Balance at end of period

25

–

4

16

47

(29)

18

–

0

1,824

(0)

1,823

25

–

4

16

47

(29)

1,842

10,2297,980

14,081(2,603)29,688

53

–

5

(47)

10

6

29,706- 10 -

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

(4) Consolidated Statement of Cash Flows

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Insurance claim income
Loss on disaster
Loss on retirement of non-current assets
Impairment losses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other
SubtotalInterest and dividends received
Interest paid
Proceeds from insurance income
Payments associated with disaster loss
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Proceeds from leasehold and guarantee deposits received
Refund of leasehold and guarantee deposits received
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Dividends paid
Repayments of lease liabilities
Proceeds from share issuance to non-controlling shareholders
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 11 -

Year ended
February 28, 2021

(Millions of yen)
Year ended
February 28, 2022

5,473
2,385
433
18
67
(49)
209
(140)
95
55
263
239
(740)
1,217
321
9,851
12
(206)
140
(95)
(505)
141
9,337

4,307
2,340
(122)
19
(11)
(44)
192
(3)
17
17
8
429
(192)
(264)
(84)
6,610
12
(187)
3
(17)
(2,904)
–
3,516

(908)
(365)
(652)
707
37
(260)
(26)
(1,468)

(642)
(526)
(1,986)
535
111
(228)
(38)
(2,774)

(900)
3,000
(8,506)
–
(464)
(702)
40
(2)
(7,535)
0
334
2,540
2,874

–
6,500
(7,506)2,000(1,026)
(707)
4
0
(736)
7
12
2,874
2,887

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022

(5) Notes on the Consolidated Financial Statements(Notes on the Going Concern Assumption)
Not applicable.

(Segment Information)[Segment information]
Year ended February 28, 2021
This information is omitted because the Group has a single segment of retail and associated businesses.
Year ended February 28, 2022
This information is omitted because the Group has a single segment of retail and associated businesses.
[Related information]
Year ended February 28, 2021
1. Information by product and service

Sales to externalcustomers

Foods

HBC

44,48325,325Home
appliances

Life style

19,484

17,163Home
living12,543(Millions of yen)
Apparel

Other

7,918

Elimination

4

Total

(10) 126,913

2. Information by geographic region(1) Net sales
This section is omitted because sales to external customers in Japan account for over 90% of net sales stated on the
consolidated statement of income.
(2) Property, plant and equipment
This section is omitted because the balance of property, plant and equipment located in Japan accounts for over 90% of
property, plant and equipment stated on the consolidated balance sheet.
3. Information by major customer
This section is omitted because no external customer accounts for more than 10% of net sales stated on the consolidated
statement of income.
Year ended February 28, 2022
1. Information by product and service

Sales to externalcustomers

Foods

HBC

42,992

24,405Home
appliances

17,522

Life
style

Home
living16,502

11,611(Millions of yen)
Apparel

6,897

Other

Elimination

53

Total

(10) 119,975

2. Information by geographic region(1) Net sales
This section is omitted because sales to external customers in Japan account for over 90% of net sales stated on the
consolidated statement of income.
(2) Property, plant and equipment
This section is omitted because the balance of property, plant and equipment located in Japan accounts for over 90% of
property, plant and equipment stated on the consolidated balance sheet.
3. Information by major customer
This section is omitted because no external customer accounts for more than 10% of net sales stated on the consolidated
statement of income.

- 12 -

Mr Max Holdings Ltd. (8203)
Financial Results for the Fiscal Year ended February 28, 2022
[Information relating to impairment loss on fixed assets by reportable segment]
Year ended February 28, 2021
This information is omitted because the Group has a single segment of retail and associated businesses.
Year ended February 28, 2022
This information is omitted because the Group has a single segment of retail and associated businesses.
[Information regarding goodwill amortization and unamortized balance by reportable segment]
Not applicable.
[Information regarding profit arising from negative goodwill by reportable segment]
Not applicable.
(Per Share Information)
Year ended February 28, 2021

Year ended February 28, 2022

Net assets per share

838.36 yen

894.76

Earnings per share

106.73 yen

85.97

Notes 1. Diluted earnings per share is not presented because the Company has no dilutive shares.
2. The basis for the calculation of earnings per share is as follows:Year ended February 28, 2021

Year ended February 28, 2022

Earnings per share
Profit attributable to owners of parent(million yen)

3,542

2,853

–

–

Profit attributable to common shareholders of parent(million yen)

3,542

2,853

Average number of common shares outstanding
during the period (thousand shares)

33,19433,193

Amount not attributable to common shareholders(million yen)

(Significant Subsequent Events)
Not applicable.

- 13 -