Financial Results for the Second Quarterof the Fiscal Year Ending March 31, 2022
November 2, 2021

JALUX Inc（TSE #2729）

IndexConsolidated Financial Summary… 4

Performance per Operation Segment… 10

Consolidated performance forecast… 15

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 forRevenue Recognition”)

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Second 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

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

Agent transactions

Principal transactions

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Second Quarter of the Fiscal Year Ending March 31, 2022

Consolidated Financial Summary

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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Sep. 2021

39,15943,596

4,437

111.3

-

20,218--Gross profit

5,582

6,841

1,258

122.5

SG&A expenses

7,369

7,627

257

103.5

Operating profit/loss(△)△1,786△786

1,000-

Non-op. profit/expenses

165

346

181

209.4

△1,621△439

1,181-△569△102467-△1,879△340

1,539-

14.315.8

1.6-----

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•

Gross sales ：Gradually recovering - Airport shops, Aircraft engine parts business. Expand sales channels : Food & Bevarage segment.

•SG&A expenses：Increase in - percentage rent, depreciation and sales commission.

•Non-op profit/expenses： Increase in - profit of equity method investments, exchange gain Decrease in:-dividend income, subsidies.

•Extraordinary profit/losses ： COVID-19 related losses - fixed costs of airport shops during temporary closure reported as an extraordinary loss. ・Copyright © JALUX Inc. All Rights Reserved.

-5-YoY（%）

Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Jun. 2021

YoY

YoY（%）

Gross profit

5,582

6,841

1,258

122.5

Personnel expenses

3,003

2,989

△1399.5

Rent expenses

926

1,133207122.4

External service fee

701682△1897.3

Depreciation

23227542118.5

Packing and transportation expenses

700635△6590.7

Other expenses

1,806

1,912

105

105.8

SG&A expenses

7,369

7,627257

103.5

Operating profit△1,786

△786

1,181

-

COVID-19 related losses: fixed costs of airport shops during temporary closure reported as an extraordinary loss (△102),△538 in FY20 2Q. In case of excluding its impact, SG&A expences decreased JPY 177 million compared to the previous year.

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

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

YoY

YoY（%）

Current assets

40,78840,678△109

99.7

Cash and deposits

8,466

7,194

△1,27185.0

Non-current assets

11,487

11,252△235

98.0

Property plant and equipment

4,472

4,287

△185

95.9

593

542

△51

91.4

6,421

6,422

0

100.0

52,276

51,931△344

99.3

Current liabilities

23,15923,883724

103.1

Non-current liabilities

4,431
24,68552,276

3,976
24,071
51,931

△455
△613
△344

89.7
97.5
99.3

Intangible assets
Investments and other assets
Total assets

Net assets
Total liabilities and net assets•Sep.30 2021

<Current assets>Increase ：Account receivables (Aircraft engine parts business).
Decrease：Inventory(the volume met agent transactions transferred to advanced payment), Cash and deposits.

•<Current liabilities>Increase：Account paynables (Aircraft engine parts business) Commercial paper.
Decrease：Short-term debt repayment.

•<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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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Jun.30 2021

YoY

YoY（%）

Total assets

52,276

51,931△344

99.3

Shareholders’ equity

23,46522,965

△499

97.8

44.9

44.2

△0.7

-

13,904

13,376

△528

96.1

0.59

0.58

△0.01

-

Shareholders’ equity ratio (%)

Interest bearing debt

Debt/Equity ratio (times)

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Second Quarter of the Fiscal Year Ending March 31, 2022

5. Consolidated Cash Flow（Summary）（Million yen）
Sep.30 2020

Sep.30 2021

YoY

Net Cash from Operating Activities

4,731

△645

△5,377

Net Cash from Investing Activities△489△97391Net Cash from financing Activities△2,811

△598

2,213

4,242

△742

△4,985

Free Cash Flow

• C/F from Operating Activities ：Net loss before adjustment of taxes, Increase of account payables for aircraft engine parts,
Decrease of account receivables and inventory (advanced payment increased).
• C/F from Investing Activities ：Purchased Investment securities, Fixed asset for system investment.
• C/F from financing Activities：Issuance of commercial paper, Repayment of debt (long and short term).

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Second Quarter of the Fiscal Year Ending March 31, 2022

Performance per Operational Segment

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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Sep. 2021

15,395

18,431

3,036

119.7

-1,231--

Operating profit/loss(△)

101539438

533.7

Ordinary profit/loss(△)△329

153483-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 expenseRemark

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.
Ø Overseas airport operation business：Remain travel
restrictions.
Ø Decrease investment loss by exchange gain.
Ø Increase in profit due to rebound from write-down(aircraft engine parts).

△329
Apr.-Sep. 2020

Apr.-Sep. 2021

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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Sep. 2021

6,987

6,371

△616

91.2

-4,581--Operating profit/loss(△)

633532△10084.0

Ordinary profit/loss(△)

445355△8979.8

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
RemarkØ Real estate：Development and leasing remain steady,Facility management decrease slightly because ofdecreasing the demand of airpline passenger,

Nursery day-care services for seniors going well by

increase of vaccination.
Ø Insurance： Insurance sales for individuals and BPO businessremaining steady.
Ø Machinery&：Increase in sales of “AQUA BLACK” and paper.
Materials
Decrease in sales of hygiene product due to reboundfrom special demand in 1Q of previous fiscal year.

Apr.-Sep. 2020

Ø Decrease in profit due to rebound from the Extra dividend income inprevious period(1Q).

Apr.-Sep. 2021

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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Sep. 2021

8,812

9,930

1,118

112.7

-

7,375--

Operating profit/loss(△)△1,458△1,082375-

Ordinary profit/loss(△)△1,409△1,099310-

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 expenseRemarkØ Airport shops：「BLUE SKY]

Ø Duty-free shops：「JAL DUTYFREE]Ø Duty-free wholesale：Ø Mail order：Ø Food gifts：

Apr.-Sep. 2020

Most clients still closed.
Online sales is increased.
Seasonal gift is steady, "JAL Furusato Nozei”
hometown tax service strengthen its salessystem.

Ø COVID-19 related losses：Fixed costs of airport shops during temporary
closure reported as an extraordinary loss.

Apr.-Sep. 2021

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Increase sales because of increasing in thenumber of domestic passenger, decreasedeficit by cost reduction effect.
Decrease deficit due to cost reduction effect.
Increase sales during Tokyo Olympic andParalympic.

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Second Quarter of the Fiscal Year Ending March 31, 2022

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

Apr.-Sep. 2021

8,114

9,135

1,020

112.6

-

7,301

--

Operating profit/loss(△)△187116304-

Ordinary profit/loss(△)△402△79323-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：Increase in wholesales of mackerel fordomestic processing factory.

Ø Agricultual products ：Decreased demand of imported
vegetables due to enough nationalproducts, influenced by unseasonableweather.

Ø WineExpand sales channels＝focus onwholesales for retail stores and EC.
increase the sales especially in Chilean
wine “ERRAZURIZ”.

Ø Marine products

Apr.-Sep. 2020

Ø Processed foods：
Food manufacturering

Apr.-Sep. 2021

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：-14-New product development. Expand sales
channels: holding fairs and events atsupermarkets.

Second Quarter of the Fiscal Year Ending March 31, 2022

Consolidated performance forecast

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Second 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（Rf)29,654136.9%

Operating profit/loss(△)△2,915300(Rf)

3,215-

Ordinary profit/loss(△)△2,426200

2,626-

attributable to owners of parent△2,366100

2,466-

Earnings per share（yen）△187.167.91

195.07-Profit/loss(△)（Published figures）

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Second Quarter of the Fiscal Year Ending March 31, 2022

11. Performance trends（Million yen）

March 2013 March 2014 March 2015 March 2016 March 2017 March 2018 March 2019 March 2020 March 2021

Previous medium-term management plan

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March 2022（E）

Current medium-term management plan

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Second 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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Second Quarter of the Fiscal Year Ending March 31, 2022