Third Quarter of the Fiscal Year Ending
March 31, 2022
January 31st, 2022

JALUX Inc（TSE #2729）

IndexConsolidated Financial Summary… 4

Performance per Operation Segment…9Consolidated performance forecast… 14

Accounting Standard for Revenue Recognition
When control of a promised good or service istransferred to the customer,
revenue will be recognized at the amount expected to be received in exchange
for the good or service.
(ASBJ Statement No. 29; March 31, 2020; hereinafter, “Accounting Standard for
Revenue Recognition”)

Copyright © JALUX Inc. All Rights Reserved.

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Third Quarter of the Fiscal Year Ending March 31, 2022

Presentation of Net Value of Revenue
As agent transactions are presented at net value, revenue under“Accounting Standard for Revenue Recognition” lower than net sales
under previous revenue recognition
Previous revenue recognition
Gross value of transactions
generally recorded

Agent transactions

Accounting Standard for Revenue
Recognition
Only commission included inrevenue for agent transactions※Approx. 50–60% lower thannet sales under previous revenue
recognition

Transaction
amountCommission
incomeCommission
incomePrincipaltransactions

Principaltransactions

Previous revenue recognition

New Revenue Recognition

Principal transactions

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Third Quarter of the Fiscal Year Ending March 31, 2022

Consolidated Financial Summary

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Third Quarter of the Fiscal Year Ending March 31, 2022

1. Consolidated P/L（Summary）（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

61,59971,544

9,945

116.1

－

33,598－－Gross profit

9,677

11,442

1,765

118.2

SG&A expenses

11,61912,009389

103.4

Operating profit/loss(△)▲1,942

▲566

1,375

－

Non-op. profit/expenses

371304▲67－▲1,570▲261

1,308－▲711▲139571－▲1,986▲319

1,667－

15.7

15.9

0.2

－－－－－

Gross sales(under previous revenue recognition)
Net sales

Ordinary profit/loss(△)
Extraordinary profit/loss(△)
Profit/loss(△) attributable to owners of parent

Gross profit to net sales ratio

Ordinary profit to net sales ratio

YoY

YoY（%）• Gross sales ：Gradually recovering - Airport shops, Aircraft engine parts business.
Expand sales channels : Food & Bevarage segment. Partial increase in demand for eating out.
• SG&A expenses：Increase in : percentage rent, external service expenses.
• Non-op profit/expenses： Increase in : exchange gain.
Decrease in : loss of equity method investments, dividend income, subsidies.
• Extraordinary profit/losses ： COVID-19 related losses : fixed costs of airport shops during temporary closure reported as anextraordinary loss.・
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Third Quarter of the Fiscal Year Ending March 31, 2022

2. Breakdown of SG&A expenses（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

Gross profit

9,67711,442

1,765118.2

Personnel expenses

4,6404,479

▲161

96.5

Rent expenses

1,508

1,827318

121.1

External service fee

1,084

1,192108109.9394413

18104.7

Packing and transportation expenses

1,1211,008

▲112

89.9

Other expenses

2,870

3,088218

107.6

SG&A expenses

11,61912,009389

103.4

Operating profit▲1,942▲566

1,375－Depreciation

YoY

YoY（%）

COVID-19 related losses: fixed costs of airport shops during temporary closure reported as an extraordinary loss (△141),△636 in FY20 3Q. In case of excluding its impact, SG&A expences decreased JPY 105 million compared to the previous year.

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-6-Third Quarter of the Fiscal Year Ending March 31, 2022

3. Consolidated B/S（Summary）（Million yen）
March.31 2021

Dec.31 2021

YoY

YoY（%）

Current assets

40,78846,418

5,630

113.8

Cash and deposits

8,466

6,681

▲1,78578.9

Non-current assets

11,487

11,048▲439

96.2

Property plant and equipment

4,472

4,038

▲43490.3593531▲6189.6

6,421

6,478

56100.952,276

57,466

5,190

109.9

Current liabilities

23,15929,461

6,302

127.2

Non-current liabilities

4,431

3,800

▲630

85.8

Net assets

24,68524,205▲48098.1

52,276

57,466

5,190

109.9

Intangible assets
Investments and other assets
Total assets

Total liabilities and net assets• <Current assets>Increase ：Account receivables (aircraft engine parts business and wholesales of seasonal gift for department stores.)Decrease：Inventory (the volume met agent transactions transferred to advanced payment), 、(－)Cash and deposits (payment for aircraft engine parts manufacturers)• <Current liabilities>Increase：Account paynables (aircraft engine parts business, expand of wholesales for department stores
because of demand for seasonal gift ) Issuance of commercial paper. Short-term debt.
• <Non-current liabilities>Decrease : Long-term debt repayment.
• <Net assets>Decrease：Retained earnings by the loss attributable to owners of parent.
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Third Quarter of the Fiscal Year Ending March 31, 2022

4. Financial Position（Million yen）
March.31 2021

Dec.31 2021

YoY

YoY（%）

Total assets

52,276

57,466

5,190

109.9

Shareholders’ equity

23,46523,127

▲337

98.5

44.9

40.2

▲4.6

－

13,904

15,166

1,261

109.0

0.59

0.66

0.07

－

Shareholders’ equity ratio (%)

Interest bearing debt

Debt/Equity ratio (times)

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Third Quarter of the Fiscal Year Ending March 31, 2022

Performance per Operational Segment

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Third Quarter of the Fiscal Year Ending March 31, 2022

6.Aviation & Airport（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

22,29929,306

7,007

131.4－

2,101－－

Operating profit/loss(△)

264781517

295.8

Ordinary profit/loss(△)▲380128508－

Gross sales(under previous revenue recognition)
Net sales

YoY

YoY（%）※1 Net sales and Operating profit including inter-segment transaction※2 perating profit before allocating common expense
Remark

29,306

Ø Aircraft engine parts businessmaintenance ：Recovered because of increasing thedemand of short-distance flights andinternational air cargo.
manufacturing：Sluggish due to decreasing demand oflong-distance (international) flights.

22,299128△380Apr.-Dec. 2020

Ø Overseas airport operation business：Remain travel
restrictions.
Ø Decrease investment loss by exchange gain.

Apr.-Dec. 2021

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Third Quarter of the Fiscal Year Ending March 31, 2022

7. Life Service（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

10,116

9,437

▲678

93.3

－

6,810

－－

Operating profit/loss(△)

899775▲12486.2

Ordinary profit/loss(△)

596498▲9883.5

Gross sales(under previous revenue recognition)
Net sales

YoY

YoY（%）※1 Net sales and Operating profit including inter-segment transaction※2 perating profit before allocating common expense

10,116596

Remark9,437

Ø Real estate：Nursery day-care services for seniors going well bydecrease of infection risk. Sub lease, rent, brokerage

decrease due to the real-estate market conditions
Ø Insurance： Insurance sales for individuals and BPO businessremaining steady.
Ø Machinery&：Increase in sales of paper and “AQUA BLACK”
Materials498

ØApr.-Dec. 2020

Apr.-Dec. 2021

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-11-Decrease in profit due to rebound from the extra dividend income
in previous period (1Q)

Third Quarter of the Fiscal Year Ending March 31, 2022

8. Retail（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

16,011

18,5422,530115.8－

13,524－－

Operating profit/loss(△)▲1,695▲983712－

Ordinary profit/loss(△)▲1,507▲1,105402－

Gross sales(under previous revenue recognition)
Net sales

YoY

YoY（%）※1 Net sales and Operating profit including inter-segment transaction※2 perating profit before allocating common expense

16,011△ 1,507

Apr.-Dec. 2020

Remark18,542

Increase sales because of increasing in thenumber of domestic passenger, decrease「BLUE SKY]
deficit by cost reduction effect.
Ø Duty-free shops：
Increase sales because the almost shops havereopened since Q2. Decrease deficit due to「JAL DUTYFREE]
cost reduction effect.
Ø Duty-free wholesale：
Most clients still closed.
Online sales is increased.
Ø Mail order：
Seasonal gift is steady, Increase the sales ofØ Food gifts：
New year dishes and JAL Furusato Nozei.”
hometown tax service”. Increase the cost to
strengthen its sales system.
Ø COVID-19 related losses：Fixed costs of airport shops during temporary
closure reported as an extraordinary loss.
Ø Airport shops：△1,105
Apr.-Dec. 2021

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Third Quarter of the Fiscal Year Ending March 31, 2022

9. Food & Beverage（Million yen）
Apr.-Dec. 2020

Apr.-Dec. 2021

13,49214,800

1,307

109.7

－

11,703－－Operating profit/loss(△)▲67348415－

Ordinary profit/loss(△)▲38224406－

Gross sales(under previous revenue recognition)
Net sales

YoYYoY（%）※1 Net sales and Operating profit including inter-segment transaction※2 perating profit before allocating common expense

13,492

Remark14,800

Ø Marine products：

Ø Agricultual products ：Ø Wine24△ 382

Apr.-Dec. 2020

Ø Processed foods：
Food manufacturering

Apr.-Dec. 2021

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：

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Increase in wholesales of mackerel because of
growing demand, wholesales of salmon by
partial recovery of the demand forrestaurants
Decreased demand for imported vegetables
due to enough national products, influenced byunseasonable weather.
Expand sales channels＝focus on wholesales
for retail stores and EC.
increase the sales especially in Chilean wine
“ERRAZURIZ”. Increase in wholesales bypartial recovery of the demand forrestaurants
Expand sales channels: holding fairs and eventsat supermarkets. Increase the sales of souvenirs
and bento boxes for transport-related retailers.

Third Quarter of the Fiscal Year Ending March 31, 2022

Consolidated performance forecast

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Third Quarter of the Fiscal Year Ending March 31, 2022

10. Consolidated performance forecast（Million yen）
March 2021

March 2022（E）

YoY

YoY（%）

Gross sales(under previous revenue recognition)

80,346

110,000（ref.)29,654136.9%

Operating profit/loss(△)△2,915300(ref.)

3,215

-

Ordinary profit/loss(△)△2,426200

2,626-

attributable to owners of parent△2,366100

2,466-

Earnings per share（yen）△187.16

7.91

195.07-

Profit/loss(△)（Published figures）

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-15-

Third Quarter of the Fiscal Year Ending March 31, 2022

11. Performance trends（Million yen）
Gross sales

Ordinary profit

185,726
141,502
99,83785,937

1,247

1,766

143,217

153,404

112,7173,937

5,166

4,222

144,688
5,094

4,738

110,000
80,3462,684200△2,426
March 2013 March 2014 March 2015 March 2016 March 2017 March 2018 March 2019 March 2020 March 2021

Medium-term management plan before last

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March 2022（E）

Previous medium-term management plan-16-

Third Quarter of the Fiscal Year Ending March 31, 2022

Caution Regarding Forward-Looking Statements
This document contains forward-looking statements based on information
available to the 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 in Japan and overseas, and foreignexchange rate fluctuation.
https://www.jalux.com/en/profile/www.jalux.com

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Third Quarter of the Fiscal Year Ending March 31, 2022