Financial Results for the Fiscal Year Ended March 31, 2022
Jun 17, 2022
MARUHAN Corporation(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022(April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous period.)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
million yen%
million yen%million yen%million yen%
Fiscal year ended
1,270,954
15.0
24,38981.930,68984.0
14,502
138.2
March 31, 2022
Fiscal year ended
1,105,584-26.8
13,408-58.2
16,675
-51.6
6,089
-55.9
March 31, 2021
(Note) Comprehensive income:Fiscal year ended March 31, 2022: 18,051 million yen (309.5%)
Fiscal year ended March 31, 2021:
4,408 million yen (-66.1%)
Net income pershare
Yen

Diluted net
income per share
Yen

Fiscal year ended
986.77
March 31, 2022
Fiscal year ended
413.12
March 31, 2021
(Reference) Equity in net income of affiliates:(2) Consolidated Financial Position
Total assets

Return on equity

Return on assetsOperating margin%%%

－

4.6

4.3

1.9－

2.0

2.6

1.2

Fiscal year ended March 31, 2022:
Fiscal year ended March 31, 2021:

Net assets

790 million yen
998 million yen

Equity ratio

million yen
million yen
Fiscal year ended
749,513
320,910
March 31, 2022
Fiscal year ended
664,581304,509
March 31, 2021
(Reference) Shareholders' equity: Fiscal year ended March 31, 2022: 320,910 million yen
Fiscal year ended March 31, 2021: 304,503 million yen(3) Consolidated Cash FlowsNet cash provided by(used in) operating
activities
million yen
Fiscal year ended
34,487
March 31, 2022
Fiscal year ended
9,778
March 31, 2021

Net assets per share%

Yen

42.8

21,835.38

45.8

20,719.40

Net cash provided by(used in) investing
activities
million yen

Net cash provided by(used in) financing
activities
million yen

Cash and cash
equivalents at end ofyear
million yen-20,611

1,999

223,413-22,787

30,293

198,344- 1 -2.Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Non-consolidated Operating Results(% indicates changes from the previous period.)
Net sales
Operating income
Ordinary income
Net income
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021

million yen%

million yen%

million yen%

million yen%

1,211,173

14.6

11,687150.7

17,460155.7

5,620－

1,056,593-27.8

4,662-80.9

6,828-73.4-1,460－Net income per share

Diluted net income per share
YenYenFiscal year ended March 31, 2022

382.41－

Fiscal year ended March 31, 2021

-99.07－(2) Non-consolidated Financial Position
Total assets

Net assets

Equity ratio

million yen
million yen
Fiscal year ended
416,354274,308
March 31, 2022
Fiscal year ended
395,199
270,155
March 31, 2021
(Reference) Shareholder's equity: Fiscal year ended March 31, 2022: 274,308 million yen
Fiscal year ended March 31, 2021: 270,155 million yen- 2 -Net assets per share%

Yen

65.9

18,664.84

68.4

18,382.30

1. Consolidated Financial Statements(1) Consolidated Balance Sheets(Unit: million yen)Previous Fiscal Year(as of March 31, 2021)

Current Fiscal Year(As of March 31, 2022)

202,760

228,790

1,129

1,170

AssetsCurrent assets
Cash and deposits
Accounts receivable-trade185,923

243,444

Merchandise

Loans and bills discounted in banking business

1,790

1,835

Raw materials and supplies

1,798

3,021

Prepaid expenses

5,860

5,329

Accounts receivable-other
Other

780

832

4,332

5,200

Allowance for doubtful accounts-2,933-3,769Total current assets

401,442

485,854

Buildings and structures (net)85,272

86,165Tools, furniture and fixtures (net)12,903

11,052

Land

57,63257,559

Golf courses

13,12013,718Construction in progress

5,466

1,902

Non-current assets
Property, plant and equipment

Other (net)Total property, plant and equipment

1,114

1,199

175,511

171,598

Intangible assets
Goodwill
Leasehold right

627

754

4,712

4,567

Software

1,381

1,468

Other

1,892

2,390

Total intangible assets

8,613

9,181

Investment securities

10,501

11,553Long-term loans receivable

20,56325,508Investments and other assets

Long-term prepaid expenses
Guarantee deposits

810

856

11,857

11,777

Construction assistance fund receivables

2,723

2,311

Deferred tax assets

30,20328,623

Other

2,658

2,481

Allowance for doubtful accounts

-302

-232

Total investments and other assets
Total non-current assets
Total assets- 3 -79,01482,879263,139

263,658

664,581749,513

(Unit: million yen)Previous Fiscal Year(as of March 31, 2021)

Current Fiscal Year(As of March 31, 2022)

Notes and accounts payable-trade

3,184

2,728

Electronically recorded obligations-operating

13,663

22,945

Short-term loans payable

31,296

5,333

Liabilities
Current liabilities

Current portion of bonds
Current portion of long-term loans payable
Lease obligations

393

1,035

23,59835,062506

576

Accounts payable-other

11,777

11,974

Accrued expenses

7,339

8,450

Income taxes payable

2,000

7,868

Accrued consumption taxes

3,533

3,600

Deposits received

10,15011,055

Provision for bonuses

3,162

3,107

Notes payable-facilities

407

645

Asset retirement obligations

1,197

1,587

Deposits in banking business

135,032

174,214

Other

2,363

3,230

249,609

293,416

Bonds payable

5,997

11,726Long-term loans payable

75,96792,011

Lease obligations

4,933

5,042

Total current liabilities
Non-current liabilities

78116

Provision for directors' retirement benefits

Deferred tax liabilities

4,222

5,810

Net defined benefit liability

6,456

7,138

Asset retirement obligations

8,195

8,200

Other

4,611

5,139

110,462

135,185

360,072428,602

Capital stock

10,00010,000Capital surplus

1,998

1,998

Retained earnings

297,133

309,985

Treasury shares-4,253-4,253

Total shareholders' equity

304,878

317,730

Valuation difference on available-for-sale securities-49-45

Deferred gains or losses on hedges

-67

-32

Foreign currency translation adjustment

-228

3,459

Remeasurements of defined benefit plans

-29

-208

Total accumulated other comprehensive income

-375

3,173

Total non-current liabilities
Total liabilities
Net Assets
Shareholders' equity

Accumulated other comprehensive income

Non-controlling interests
Total net assets
Total liabilities and net assets- 4 -6

6

304,509

320,910664,581749,513

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2020
to March 31, 2021)

Current Fiscal Year
(From April 1, 2021
to March 31, 2022)

Net sales

1,105,584

1,270,954

Cost of sales

1,066,361

1,215,025

Gross profit

39,222

55,928Selling, general and administrative expenses

25,81331,539Operating income

13,40824,389

341

370

998

790

522

3,870

1,419

1,554

200

221

Other

1,445

1,129

Total non-operating income

4,927

7,936

Interest expenses

1,066

1,140

Rent expenses

279

309

Commission fee274

110

Other4076

Non-operating income
Interest and dividends income
Share of profit of entities accounted for using
equity method
Foreign exchange gains
Rent income
Income from IC card receipts

Non-operating expenses

Total non-operating expenses

1,661

1,636

16,67530,689

17
1,291

9－

Gain on Reversal of lease obligations

384－

Insurance income from loss on disaster

104－

Ordinary income
Extraordinary income
Gain on sales of non-current assets
Subsidy income

Other

62

98

1,860

108

439

Loss on abandonment of non-current assets

245558Loss on cancellation of leases

41

13

Total extraordinary income
Extraordinary loss
Loss on sales of non-current assets

Loss on disaster

28

11

Impairment loss

3,873

5,525

Loss due to temporary store closures

6,582

－153

551

Total extraordinary loss

10,9296,700

Income before income taxes

7,606

24,097

Income taxes-current

2,198

7,846

Income taxes-deferred-683

1,748

Total income taxes

1,515

9,595

Net income

6,091

14,502

Other

Profit attributable to non-controlling interests
Profit attributable to owners of parent- 5 -20

6,089

14,502

Consolidated Statements of Comprehensive Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2020
to March 31, 2021)

Current Fiscal Year
(From April 1, 2021
to March 31, 2022)

6,091

14,502

Valuation difference on available-for-sale securities

4554

Deferred gains or losses on hedges

3135-2,195346

3,656-178

89-18

Net income
Other comprehensive income

Foreign currency translation adjustment
Remeasurements of defined benefit plans,net of tax
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income
Comprehensive income:-1,682

3,548

4,408

18,051

4,406

18,05120

Comprehensive income attributable toComprehensive income attributable to owners of theparent
Comprehensive income attributable to non-controllinginterests- 6 -