Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2021
August 7, 2020

JALUX Inc.（TSE #2729）

Index（title）（page）

Consolidated Financial Summary… 3

Performance per Operational Segment… 8

Forecasts for the Fiscal Year Ending March 31, 2021

… 15

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First Quarter of the Fiscal Year Ending March 31, 2021

Consolidated Financial Summary

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First Quarter of the Fiscal Year Ending March 31, 2021

1. Consolidated P/L（Summary）（Million yen）
Consolidated P/L (Summary)

Apr.-Jun. 2019

Apr.-Jun. 2020

Net sales

36,327

20,425▲15,901

56.2%

Gross profit

6,530

2,767

▲3,76242.4%

5,494

3,563

▲1,93064.9%

1,035▲796▲1,831－

22728▲19812.7%

1,262▲767▲2,030－1▲333▲335－

Profit attributable to owners of parent

765

▲950

▲1,715－Gross profit to net sales ratio

18.0

13.5

▲4.4

Ordinary profit to net sales ratio

3.5－－

SG&A expenses
Operating profit
Non-op. profit/expenses
Ordinary profit
Extraordinary profit/losses

YoY

YoY（%）<Net Sales> Decrease in : sales of airport shops and duty-free shops, wholesale to Duty-free shops, sales of souvenir sweets and lunch boxes,
wholesale of marine products, agricultural products and wine, sales of aircraft-engine parts<SG&A expenses> Decrease in : percentage rent, labor cost, sales commission<Non-op. profit/losses> Increase in dividend income / Loss from equity method investments<Extraordinary profit/losses> COVID-19 related Losses : Fixed costs of airport shops during temporary closure reported as an extraordinary lossesCopyright © JALUX Inc. All Rights Reserved.

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First Quarter of the Fiscal Year Ending March 31, 2021

2. Breakdown of SG&A expenses（Million yen）
Breakdown of SG&A Expenses

Apr.-Jun. 2019

Apr.-Jun. 2020

6,530

2,767

▲3,762

42.4%

Personnel expenses

1,980

1,424

▲556

71.9%

Rent expenses

1,142395

▲747

34.6%

External service fee

409346▲6284.7%

Depreciation

146109▲3674.8%

Packing and transportation expenses

436359▲7682.4%

1,378927▲45167.3%

SG&A expenses

5,4943,563▲1,93064.9%

Operating profit

1,035▲796▲1,831－Gross profit

Other expenses

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YoY

YoY（%）First Quarter of the Fiscal Year Ending March 31, 2021

3. Consolidated B/S（Summary）（Million yen）
Consolidated B/S (Summary)March.31 2020

June.30 2020

YoY

YoY（%）

Current assets

48,76539,062▲9,703

80.1%

Cash and deposits

6,175

7,421

+1,246120.2%

Non-current assets

12,079

11,770

▲308

97.4%

Property plant and equipment

5,266

5,100

▲16696.8%

673707+34

105.1%

6,138

5,962

▲17697.1%

60,84450,833▲10,011

83.5%

Current liabilities

31,704

20,466▲11,237

64.6%

Non-current liabilities

1,093

4,184+3,091

382.6%Net assets

28,04626,181▲1,86493.4%

60,84450,833▲10,011

83.5%

Intangible assets
Investments and other assets
Total assets

Total liabilities and net assets<Assets> Increase: Cash and deposits / Decrease: Account receivable, Inventory<Liabilities> Increase: Long-term loans payable to secure liquidity at hand / Decrease: Accrued expenses,
Short-term loans payable, Redemption of the commercial paper<Net assets> Loss attributable to owners of parent, Dividend payment
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-6-First Quarter of the Fiscal Year Ending March 31, 2021

4. Financial Position（Million yen）
Financial Position

March.31 2020

June.30 2020

YoY

YoY（%）

Total assets

60,84450,833▲10,011

83.5%

Shareholders’ equity

26,337

24,742▲1,595

93.9%

43.3

48.7

+5.4

14,32912,424▲1,9040,540.50▲0.04

Shareholders’ equity ratio (%)

Interest bearing debt

Debt/Equity ratio (times)

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-7-86.7%

First Quarter of the Fiscal Year Ending March 31, 2021

Performance per Operational Segment

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First Quarter of the Fiscal Year Ending March 31, 2021

5. Net Sales by Segment（Million yen）

Note: Sales including inter-segment transaction
Net Sales by Segment

Apr.-Jun. 2019

Apr.-Jun. 2020

YoY

YoY（%）

Aviation & Airport

11,90810,000▲1,90884.0%Life service

3,083

2,914

▲168

94.5%

Retail14,874

3,633▲11,240

24.4%

Food & Beverage

6,879

3,940

▲2,93957.3%

Eliminations▲418▲62355

Total

36,327

20,425▲15,901

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-9-56.2%

First Quarter of the Fiscal Year Ending March 31, 2021

6. Sales composition ratio of Segment※ Sales including inter-segment transaction（Million yen）

36,327
11,908

32%

3,083

8%

20,425

14,87441%

10,000

49%

19%

2,914
3,633
3,940

14%
18%
19%

6,879
Apr.-Jun. 2019

■ Aviation & Airport••••

Apr.-Jun. 2020

■ Life Service■ Retail■ Food & Beverage

Net sales decreasing at every segment
Considerable decline of 75.6% from the same term last year especially at Retail segment
As for composition ratio, the rate of Aviation & Airport and Life service segment risen due to the significant decline of Retail segment
Net sales and composition ratio maintained at Food & Beverage segment

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-10-First Quarter of the Fiscal Year Ending March 31, 2021

7. Aviation & Airport（Million yen）
Aviation & Airport

Apr.-Jun. 2019

Apr.-Jun. 2020

11,90810,000▲1,90884.0%

Operating profit ※2309275▲3389.2%

Ordinary profit

28285▲19730.2%Net sales ※1※1 Net sales and Operating profit including inter-segment transaction※2 Operating profit before allocating common expense

11,908·275·Overseas airport operation business in Lao PDR and Myanmar :Decreased equity gains of affiliated companies due to decline offlight85

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Aircraft engine parts sales for heavy industry :Decreased sales due to global decline of aircraft operations

282
Apr.-Jun. 2019

YoY（%）

Remarks

10,000309

YoY

Apr.-Jun. 2020

-11-First Quarter of the Fiscal Year Ending March 31, 20218. Life Service（Million yen）
Life Service

Apr.-Jun. 2019

Apr.-Jun. 2020

3,083

2,914

▲16894.5%

Operating profit ※2245316+71

129.0%

Ordinary profit

125265+140212.2%

Net sales ※1※1 Net sales and Operating profit including inter-segment transaction※2 Operating profit before allocating common expense

3,083

245
125
Apr.-Jun. 2019

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2,914
316

YoY

YoY（%）

Remarks·Real Estate ：Increased leasing,
Decreased facility management due to decline ofairport users
Nursery day- care services for seniors temporaryclosing·Insurance ：Decreased insurance sales to overseas travelers
Increased non-life insurance sales to corporates·Machinery ：& Materials

Decreased printing
Importing masks to make up for the shortage
Increased sales of special vehicles and road repair
materials named “AQUA PATCH”·Non-op. profit ： Increased dividend income of investment securities

265
Apr.-Jun. 2020

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9. Retail（Million yen）
RetailApr.-Jun. 2019

Apr.-Jun. 2020

14,874

3,633▲11,240

24.4%

Operating profit ※2722▲796▲1,519－Ordinary profit

616▲835▲1,451－Net sales ※1※1 Net sales and Operating profit including inter-segment transaction※2 Operating profit before allocating common expense

YoY

YoY（%）

Remarks·14,874

Airport shops：

Most of the shops at Narita Airport and Haneda Airport「BLUE SKY｣

temporary closing
Temporary closure and shortening opening hours atother airports

722616·

3,633
▲ 796
▲ 835

Apr.-Jun. 2019

Duty-free shops：

All the shops at Narita Airport and Haneda airport「JAL DUTYFREE｣

temporary closing·Duty-free wholesale：Decreased due to temporary closure of clients·Mail Order：

Increased due to the demand of Stay-at-home consumption·Food gifts：

Increased online sales of department stores in Mother’s
day and summer gift season

Apr.-Jun. 2020
·Extraordinary losses： COVID-19-related loss :Fixed costs of airport shops during
temporary closure

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First Quarter of the Fiscal Year Ending March 31, 2021

10. Food & Beverage（Million yen）
Food & Beverage

Apr.-Jun. 2019

Apr.-Jun. 2020

6,879

3,940

▲2,93957.3%

Operating profit ※2262▲159▲421－

Ordinary profit

139▲287▲426－Net sales ※1※1 Net sales and Operating profit including inter-segment transaction※2 Operating profit before allocating common expense

139
Apr.-Jun. 2019

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YoY（%）

Remarks·Marine ：Decreased sales of fish processed for sushi-go-round to beproducts

eaten raw
Decreased sales of “Thonglor Nihon Ichiba” for restaurants

6,879
262

YoYin Thailand·3,940

Agricultural ：Increased sales of red-peppers and cherry tomatoes namedproducts“Vanity” from Netherlands to mass retailers
Decreased sales of okra due to high transportation cost

▲ 159·Wine ：▲ 287·Processed

Apr.-Jun. 2020

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Decreased wholesale to hotels and restaurants：

Decreased in-flight meals sales

foods/ Food

Decreased sales of souvenir sweets and lunch boxes for

manufacturertransport-related retailers

First Quarter of the Fiscal Year Ending March 31, 2021

Forecasts for Fiscal Year Ending March 31, 2021

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-15-First Quarter of the Fiscal Year Ending March 31, 2021

11. Forecasts for the Fiscal Year Ending March 31, 2021
（Million yen）

（Published figures）
Forecasts
for the Fiscal Year Ending March 31, 2021

March 2020

March 2021（E）

144,688

110,000▲34,68876.0%

Operating profit

3,969▲2,200▲6,169－Ordinary profit

4,738▲1,900▲6,638－3,081▲1,200▲4,281－243.69▲94.91▲338.60－

Net sales

Profitattributable to owners of parent

Earnings per share（yen）

YoY

YoY（%）JALUX has left unchanged its forecasts based on the assumption that was announced on 30 April, 2020. In the second quarter, thecompany will decide if the forecast should be updated depending on COVID-19 impact on global economic conditions and arecovery trend in the second half of FY2020.
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-16-First Quarter of the Fiscal Year Ending March 31, 2021

12. Performance trends（Million yen）
Net Sales

Ordinary profit

185,726
141,50289,08285,937

99,837143,217

112,717

153,404
5,166

4,222

3,937

144,688

5,094

4,738

110,000

2,684
1,656

1,247

1,766

▲ 1,900
March 2012 March 2013 March 2014 March 2015 March 2016 March 2017 March 2018 March 2019 March 2020 March 2021（E）

Previous medium-term management plan

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Current medium-term management plan-17-

First Quarter of the Fiscal Year Ending March 31, 2021

Caution Regarding Forward-Looking Statements
This document contains forward-looking statements based on information available tothe company at the time of disclosure and certain assumptions that management
believes to be reasonable.
JALUX makes no assurances as to the actual results and/or other outcomes, which may
differ substantially from those expressed or implied by such forward-looking statements
due to various factors including changes in economic conditions in key markets, both inJapan and overseas, and exchange rate movements.
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First Quarter of the Fiscal Year Ending March 31, 2021