Financial Results for the Fiscal Year Ended March 31, 2021
Jun 16, 2021
MARUHAN Corporation(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021(April 1, 2020 to March 31, 2021)(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
1,105,584
13,408-58.2
16,675
-51.6
6,089
-55.9
-26.8March 31, 2021
Fiscal year ended
1,509,454
32,090-4.5
34,417-11.3
13,082-37.5-2.6
March 31, 2020
(Note) Comprehensive income:Fiscal year ended March 31, 2021:
4,408 million yen (-66.1%)
Fiscal year ended March 31, 2020: 13,034 million yen (-36.8%)
Net income pershare
Yen

Diluted net
income per share
Yen

Fiscal year ended
413.12
March 31, 2021
Fiscal year ended
933.63
March 31, 2020
(Reference) Equity in net income of affiliates:(2) Consolidated Financial Position
Total assets

Return on equity

Return on assetsOperating margin

%%%－

2.0

2.6

1.2－

4.7

5.8

2.1

Fiscal year ended March 31, 2021:
Fiscal year ended March 31, 2020:

Net assets

998 million yen
944million yen

Equity ratio

million yen
million yen
Fiscal year ended
664,581304,509
March 31, 2021
Fiscal year ended
622,969
302,114
March 31, 2020
(Reference) Shareholders' equity: Fiscal year ended March 31, 2021: 304,503 million yen
Fiscal year ended March 31, 2020: 302,109 million yen(3) Consolidated Cash FlowsNet cash provided by(used in) operatingactivities
million yen
Fiscal year ended
9,778
March 31, 2021
Fiscal year ended
29,955
March 31, 2020

Net assets per share%

Yen

45.8

20,719.40

48.5

20,436.93

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-22,787

30,293

198,344-24,319

17,805

182,662- 1 -2.Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (April 1, 2020 to March 31, 2021)(1) Non-consolidated Operating Results(% indicates changes from the previous period.)
Net sales
Operating income
Ordinary income
Net income
Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2020

million yen%

million yen%million yen%million yen

1,056,593-27.8

4,662-80.9

6,828-73.4-1,460－1,463,270-3.2

24,385-12.4

25,628-19.7

8,433-51.1

Net income per share

Diluted net income per share
Yen

Yen

Fiscal year ended March 31, 2021

-99.07－

Fiscal year ended March 31, 2020

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

Net assets

Equity ratio

million yen
million yen
Fiscal year ended
395,199
270,155
March 31, 2021
Fiscal year ended
396,532
273,581
March 31, 2020
(Reference) Shareholder's equity: Fiscal year ended March 31, 2021: 270,155 million yen
Fiscal year ended March 31, 2020: 273,581 million yen- 2 -%Net assets per share%

Yen

68.4

18,382.30

69.0

18,507.06

1. Consolidated Financial Statements(1) Consolidated Balance Sheets(Unit: million yen)Previous Fiscal Year(as of March 31, 2020)Current Fiscal Year(As of March 31, 2021)

185,050

202,760

1,079

1,129

AssetsCurrent assets
Cash and deposits
Accounts receivable-trade161,335

185,923

Merchandise

Loans and bills discounted in banking business

2,058

1,790

Raw materials and supplies

1,195

1,798

Prepaid expenses

4,976

5,860

Accounts receivable-other
Other

763

780

4,363

4,332

Allowance for doubtful accounts-2,096-2,933

Total current assets

358,725

401,442

Buildings and structures (net)89,01085,272Tools, furniture and fixtures (net)15,752

12,903

Land

58,514

57,632

Golf courses

13,123

13,120Construction in progress

2,617

5,466

Non-current assets
Property, plant and equipment

Other (net)Total property, plant and equipment

1,033

1,114

180,051

175,511

Intangible assets
Goodwill
Leasehold right

531

627

4,832

4,712

Software

1,076

1,381

Other

1,643

1,892

Total intangible assets

8,082

8,613

Investment securities

8,035

10,501Long-term loans receivable

20,457

20,563

Investments and other assets

Long-term prepaid expenses
Guarantee deposits

908

810

12,68011,857

Construction assistance fund receivables

2,714

2,723

Deferred tax assets

29,59530,203

Other

2,065

2,658

Allowance for doubtful accounts

-348

-302

Total investments and other assets

76,10979,014

264,243

263,139622,969

664,581

Total non-current assets
Total assets- 3 -(Unit: million yen)Previous Fiscal Year(as of March 31, 2020)

Current Fiscal Year(As of March 31, 2021)

Notes and accounts payable-trade

5,080

3,184

Electronically recorded obligations-operating

20,16813,663

Short-term loans payable

5,435

31,296

Liabilities
Current liabilities

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

219

393

26,092

23,598552

506

Accounts payable-other

14,724

11,777

Accrued expenses

6,336

7,339

Income taxes payable

9,734

2,000

Accrued consumption taxes

1,725

3,533

Deposits received

9,813

10,150

Provision for bonuses

2,965

3,162

Notes payable-facilities

2,968

407

Asset retirement obligations

1,047

1,197

Deposits in banking business

107,243

135,032

Other

2,629

2,363

216,738

249,609

Bonds payable

4,382

5,997

Long-term loans payable

70,18975,967

Lease obligations

5,239

4,933

Total current liabilities
Non-current liabilities

5878

Provision for directors' retirement benefits

Deferred tax liabilities

4,847

4,222

Net defined benefit liability

6,707

6,456

Asset retirement obligations

7,998

8,195

Other

4,693

4,611

104,116

110,462

320,854

360,072

Capital stock

10,00010,000Capital surplus

1,670

1,998

Retained earnings

292,851

297,133

Treasury shares-3,719-4,253

Total shareholders' equity

300,802304,878

Valuation difference on available-for-sale securities

-171

-49

Deferred gains or losses on hedges-99-67

Foreign currency translation adjustment

1,958

-228

Remeasurements of defined benefit plans

-380

-29

Total accumulated other comprehensive income

1,307

-375

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 -

4

6

302,114304,509

622,969

664,581(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive IncomeConsolidated Statements of Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2019
to March 31, 2020)

Current Fiscal Year
(From April 1, 2020
to March 31, 2021)

Net sales

1,509,454

1,105,584

Cost of sales

1,448,985

1,066,361

Gross profit

60,46839,222

Selling, general and administrative expenses

28,37725,813Operating income

32,09013,408

425

341

944

998

－522

1,352

1,419

286200

Other

1,397

1,445

Total non-operating income

4,406

4,927

1,081

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
Interest expenses
Foreign exchange losses

576

1,066－Rent expenses

180279Commission fee

144274

Other

97

40

2,079

1,661

34,417

16,675Gain on sales of non-current assets

617

Subsidy income

－

1,291

Gain on Reversal of lease obligations－384

Insurance income from loss on disaster

6104

Other

562

Total extraordinary income

181,860

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss
－4

1,444

245

Loss on cancellation of leases－41

Loss on disaster

219

28

Impairment loss

9,848

3,873
－

Loss due to temporary store closures

14－

6,582

Other

2

153

Total extraordinary loss

11,52910,929

Income before income taxes

22,906

7,606

Income taxes-current

12,4692,198

Income taxes-deferred-3,367-683

Total income taxes

9,101

1,515

Net income

13,804

6,091

Loss on sales of non-current assets
Loss on abandonment of non-current assets

Loss on cancellation of rental contracts

Profit attributable to non-controlling interests
Profit attributable to owners of parent- 5 -1

2

13,802

6,089

Consolidated Statements of Comprehensive Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2019
to March 31, 2020)

Current Fiscal Year
(From April 1, 2020
to March 31, 2021)

13,804

6,091

Valuation difference on available-for-sale securities

-58

45

Deferred gains or losses on hedges

4031

-321
-260

-2,195346-169

89-769-1,682

13,034

4,408

13,033

4,406

12Net 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:Comprehensive income attributable toComprehensive income attributable to owners of theparent
Comprehensive income attributable to non-controllinginterests- 6 -