Summary Report of Consolidated Financial Results
For the Fiscal Year Ended June 30, 2021

(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)
Pan Pacific International Holdings Corporation
Securities Code No.: 7532
Shares Listed:Tokyo Stock Exchange
Address:
2-19-10 Aobadai, Meguro-ku, Tokyo
Representative:
Naoki Yoshida, President and CEO
Contact:
Keita Shimizu, Executive Officer and CFO (Phone:+81-3-5725-7588)
URL:
https://ppih.co.jp/(Amounts in million yen are rounded off to the nearest million)
1. Overview of Business Results and Financial Position for the fiscal year ended June 30, 2021 (from July 1, 2020 to June30, 2021)(1) Results of Business Operations(Millions of yen, except per-share data)
Profit Attributable
Change Operating Change Ordinary Change
ChangeNet Sales
to Owners of(%)(%)
Income(%)
Income(%)
ParentFiscal year ended
1,708,635
1.6
81,306
7.8
81,526
9.3
53,851
7.9
June 30, 2021
Fiscal year ended－－－
1,681,947
26.6
75,42474,60049,927
June 30, 2020
(Note) Comprehensive income: 58,344 million yen [17.1%] (FY 2021.6), 49,833 million yen [－%] (FY 2020.6)
Net Income
Per Share(Yen)

Net Income
Per Share-fully
diluted (Yen)

Return on
Equity (%)

Ordinary
Income on Total
Assets (%)

Operating
Income on
Net Sales (%)

Fiscal year ended
84.93
84.70
13.6
6.1
4.8
June 30, 2021
Fiscal year ended
78.79
78.58
14.3
5.8
4.5
June 30, 2020
(Note) The accounting policy has been changed since the fiscal year ending June 2021, and the figures for the fiscal year
ended June 2020 are the figures after the retroactive adjustment.
The year-on-year percentage change in the fiscal year ended June 2020 is not stated because it was retroactively
revised due to changes in accounting policy.
(2) Financial Position(Millions of yen, except per-share data)
Total Assets

Net Assets
per Share (Yen)

Ratio of Shareholders’ Equity
to Total Assets (%)

Net assets

As of
1,370,252
438,76530.6
660.12June 30,2021
June 30,2020
1,297,231
388,99928.7
586.58(Reference) Equity: 418,661 million yen (as of June 30, 2021), 371,839 million yen (as of June 30, 2020)(Note) The accounting policy has been changed since the fiscal year ending June 2021, and the figures for the fiscal year
ended June 2020 are the figures after the retroactive adjustment.
(3) The Consolidated Statements of Cash Flows

Fiscal year ended
June 30, 2021
Fiscal year ended
June 30, 2020

(Millions of yen)

Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities

Cash and Cash
Equivalents

79,054(78,042)(28,954)

160,875

65,135(33,452)(34,030)

183,602

2. Dividends
Dividend per share (yen)Year Ended June 30,
2020
Year Ended June 30,
2021
Year Ending June 30,
2022 (Forecast)

Dividends intotal (annual,Millions of yen)

Dividend payout
ratio (consolidated
basis, %)Dividends on net
assets (consolidated
basis, %)

15.00

9,508

19.0

2.7

13.00

16.00

10,147

18.8

2.6

13.50

16.50

Six Months Ended
December 31

Year Ended
June 30

Total

3.00

12.00

3.00
3.00

1

―

3. Consolidated Business Forecast：For the year ending June 30, 2022 (From July 1, 2021 to June 30, 2022)(Millions of yen, except per-share data)

Six Months Ending
December 31, 2021
Year Ending
June 30, 2022

Net Sales

Change(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

929,000

8.9

44,500(9.8)

43,700(9.3)

1,870,000

9.4

85,000

4.5

83,000

1.8

ProfitAttributableto Owners of
ParentChange(%)

Net Income
perShare(Yen)

30,300

(7.2)

47.78

57,600

7.0

90.82

4. Others(1) Significant changes in the scope of consolidation: None
Newly consolidated: － , Excluded:－(2) Changes in accounting policies concerning preparation of consolidated financial statements① Changes in line with revision to accounting standards: None
② Other changes: Yes③ Changes in accounting estimates: None
④ Restatement: None
(3) Number of outstanding shares (Common share)① Number of outstanding shares (Treasury share included)
June 30, 2021
June 30, 2020
② Number of treasury share
June 30, 2021
June 30, 2020
③ Average number of outstanding shares during the period
June 30, 2021
June 30, 2020

634,239,440 shares
633,929,040 shares
18,924 shares
18,924 shares
634,086,639 shares633,643,173 shares※This financial summary is not subject to audit conducted by certified public accountants or an audit corporation.
※Explanation regarding the appropriate use of forecasts of business results
The financial forecasts of business results are based on judgments and estimates that have been made using
currently available information. By nature, such financial forecasts are subject to uncertainties and risks. Therefore,
actual results might be significantly different from the aforementioned forecasts for a variety of reasons, includingchanges in economic environments related to our business, market trends and foreign currency exchange rates.
※The Company plans to hold a financial result briefing for security analysts and institutional investors on August 17,
2021. Presentation materials for the briefing will be available on the Company’s website.

2

Consolidated Balance Sheets(Millions of yen)
As of June 30,

As of June 30,

2020

2021

AmountAmountAssetsCurrent assets
Cash and deposits¥179,785¥157,522

Notes and accounts receivables-trade

18,37821,074

Accounts receivables - installment

68,29365,491

Operating loans
Merchandise and finished goods
Prepaid expenses

8,076

7,658

187,775

203,416

6,772

7,671

Deposits paid

4,377

4,364

Other

21,572

29,577(890)(1,276)494,138

495,496

Buildings and structures, net

264,035

261,481

Tools, furniture and fixtures, net

29,89832,848Other, net

1,572

1,517

325,499

317,402

Allowance for doubtful accounts
Total current assets

Non-current assets
Property, plant and equipment

Land
Construction in progress

1,706

7,830

－

22,672622,710643,750

Goodwill

15,93556,304

Other

20,94823,255

Total intangible assets

36,88379,559Investment securities

17,51529,082Long-term loan receivables

1,269

1,192

Long-term prepaid expenses

5,729

5,140

Retirement benefit asset

16,236

16,756

Deferred tax assets

23,15023,713

Lease and guarantee deposits

78,62473,882Right of use assets, net
Total property, plant and equipment
Intangible assets

Investments and other assets

Other

3,178

3,802

Allowance for doubtful accounts(2,201)(2,120)143,500

151,447

803,093874,756¥1,297,231¥1,370,252

Total investments and other assets
Total non-current assets

Total assets3

(Millions of yen)
As of June 30,

As of June 30,

2020

2021

AmountAmountLiabilities
Current liabilities
Notes and accounts payables - trade¥148,226¥149,984－

1,500

Current portion of long-term loan payables

13,201

33,613Current portion of bonds

11,916

22,566

Payables under fluidity lease receivables

4,512

191

Accounts payables – other

53,48146,508

Short-term loan payables

Lease obligations

46

1,380

Accrued expenses

22,58825,550

Deposits received

16,80628,000

Income taxes payables

10,96911,299Provision for point card certificates

6,924

5,747

Other

23,55827,211

Total current liabilities

312,227

353,550

Bond payables

226,542

203,976

Long-term loan payables

Non-current liabilities
276,191

271,507

Long-term payables under fluidity lease receivables

191－

Lease obligations

99

21,08723,30024,16594

769,58857,195

Asset retirement obligations
Negative goodwill
Other
Total non-current liabilities

596,005

577,937

908,232

931,487

Capital stock

23,00823,153

Capital surplus

16,977

17,121Retained earnings

332,263376,268

(15)

(15)

372,233

416,527

Valuation difference on available-for-sale securities

529

1,165

Foreign currency translation adjustment

(865)

770

Total liabilities

Net assets
Shareholders' equity

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income

Remeasurements of defined benefit plans

(58)

199

Total accumulated other comprehensive income

(394)

2,133

Share acquisition rights

218

216

Non-controlling interests

16,942

19,888

Total net assets
Total liabilities and net assets

4388,999

438,765¥1,297,231¥1,370,252

Consolidated Statements of Income
Fiscal year ended
June 30, 2020
AmountNet sales
Cost of sales
Gross profit(Millions of yen)
Fiscal year ended
June 30, 2021
Amount¥1,681,947¥1,708,635

1,200,831

1,211,311

481,116

497,325

405,692

416,018

75,42481,306

Non-operating income
Interest and dividend income
Amortization of negative goodwill
Share of profit of entities accounted for using equity method
Foreign exchange gains
Other
Total non-operating income

705
86
84
224
4,222
5,322

617
86
237
1,580
4,426
6,945

Non-operating expenses
Interest expenses paid on loans and bonds
Cost of claim's liquidation
Commission fee
Other
Total non-operating expenses
Ordinary income

5,175
162
111
698
6,146
74,600

5,704
49
61
911
6,725
81,526Extraordinary income
Gain on sales of non-current assets
Gain on bargain purchase
Gain on sale of businesses
Reversal of provision for loss on closing of storesGain on revision of retirement benefit plan
Gain on reversal of share acquisition rights
Gain on insurance claims
Other
Total extraordinary income

801
241
494
268
5,111
220
－
425
7,560

94
－
－
－
－
0
1,269
75
1,437

Extraordinary losses
Impairment loss
Loss on retirement of non-current assets
Loss on sale of shares of subsidiaries and affiliates
Loss on closing of stores
Loss on disaster
Other
Total extraordinary losses
Profit before income taxes

4,195
3,513
145
1,046
220
453
9,572
72,588

16,711
1,024
－
630
76
257
18,69864,265

Income taxes - current
Income taxes – deferred
Total income taxes
ProfitProfit attributable to non-controlling interests

20,637
1,471
22,10850,480553

19,408(10,019)
9,388
54,877
1,026

Profit attributable to owners of parent¥49,927¥53,851

Selling, general and administrative expenses
Operating income

5Consolidated Statements of Comprehensive Income(Millions of yen)
Fiscal year ended
June 30, 2021

Fiscal year ended
June 30, 2020
AmountProfitAmount¥50,480¥54,877

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income
Comprehensive income

379

1,181

(1,423)

2,006

430

192

(33)

88

(647)

3,467

¥49,833¥58,344¥49,283¥56,378

550

1,966

Comprehensive income attributable to：
Owners of parent
Non-controlling interests

6Consolidated statements of changes in Net Assets(Millions of yen)
Fiscal year ended
June 30, 2020
AmountShareholders' equity
Capital stock
Balance at beginning of current period
Changes of items during period
Issuance of new shares
Total changes of items during period
Balance at end of current period
Capital surplus
Balance at beginning of current period
Changes of items during period
Issuance of new sharesFiscal year ended
June 30, 2021
Amount¥22,675¥23,008

333
333
23,008144
144
23,153

15,414

16,977

333
43
3
1,184
1,563
16,977

144
－
－
－
144
17,121

290,034(1,341)

332,263－(6,651)
49,927294
43,570332,263(9,509)53,851(336)
44,005376,268

(14)

(15)

(1)
(1)
(15)

－
－
(15)

328,109(1,341)

372,233－

Sales of shares of consolidated subsidiaries

666(6,651)
49,927
(1)
294
43
3

289
(9,509)53,851－(336)－－

Purchase of shares of consolidated subsidiaries
Total changes of items during period
Balance at end of current period

1,184
45,465¥372,233－
44,294¥416,527

Capital increase of consolidated subsidiaries

Sales of shares of consolidated subsidiaries
Purchase of shares of consolidated subsidiaries
Total changes of items during period
Balance at end of current period
Retained earnings
Balance at beginning of current period
Cumulative effects of changes in accounting policies
Changes of items during period
Dividends of surplus
Profit attributable to owners of parent
Change in scope of consolidation
Total changes of items during period
Balance at end of current period
Treasury shares
Balance at beginning of current period
Changes of items during period
Purchase of treasury shares
Total changes of items during period
Balance at end of current period
Total shareholders' equity
Balance at beginning of current period
Cumulative effects of changes in accounting policies
Changes of items during period
Issuance of new shares
Dividends of surplus
Profit attributable to owners of parent
Purchase of treasury shares
Change in scope of consolidation
Capital increase of consolidated subsidiaries

7

Fiscal year ended
June 30, 2020
AmountAccumulated other comprehensive income
Valuation difference on available-for-sale securities
Balance at beginning of current period
Changes of items during period
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period
Foreign currency translation adjustment
Balance at beginning of current period
Changes of items during period
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period
Remeasurements of defined benefit plans
Balance at beginning of current period
Changes of items during period
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period
Total accumulated other comprehensive income
Balance at beginning of current period
Changes of items during period
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

Subscription rights to shares

Balance at beginning of current period
Changes of items during period
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

Non-controlling interests

Balance at beginning of current period
Changes of items during period
Change in scope of consolidation
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

Total net assets

Balance at beginning of current period
Cumulative effects of changes in accounting policies
Changes of items during period
Issuance of new shares
Dividends of surplus
Profit attributable to owners of parent
Purchase of treasury shares
Change in scope of consolidation
Capital increase of consolidated subsidiaries
Sales of shares of consolidated subsidiaries
Purchase of shares of consolidated subsidiaries
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

8(Millions of yen)
Fiscal year ended
June 30, 2021
Amount

¥173

¥529

356
356
529

636
636
1,165

554

(865)

(1,419)(1,419)
(865)

1,635
1,635
770

(477)

(58)

419
419
(58)

257
257
199

250

(394)

(644)
(644)
(394)

2,528
2,528
2,133

724

218

(506)
(506)
218

(2)
(2)
216

23,217

16,942－(6,275)(6,275)
16,942

(73)
3,019
2,946
19,888352,300(1,341)

388,999－666(6,651)
49,927
(1)
294
43
3
1,184
(7,425)38,040¥388,999

288(9,509)53,851
－
(409)
－
－
－
5,545
49,766¥438,765

Consolidated Statements of Cash Flows
Fiscal year ended
June 30, 2020
AmountCash flows from operating activities:
Profit before income taxes
Depreciation and amortization
Impairment loss
Amortization of negative goodwill
Gain on bargain purchase
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses paid on loans and bonds
Share of profit of affiliates accounted for using equity method
Loss on sales and retirement of non-current assets
Gain on sale of businesses
Loss on closing of storesGain on insurance claims
Gain on revision of retirement benefit plan
Offset payments for house rental fee with lease and guarantee
deposits
Increase in notes and accounts receivables – trade
Increase in inventories
Increase (decrease) in notes and accounts payables – trade
Decrease (increase) in accounts receivables – installment
Increase in retirement benefit asset
Decrease in accounts payables – other
Decrease in deposits received
Increase (decrease) in other current liabilities
Decrease in other non-current liabilities
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Proceeds from insurance benefits
Proceeds from dividend income from affiliates accounted for using
equity method
Payments for loss on disasterNet cash provided by operating activities
Cash flows from investing activities:
Payments for purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchase of intangible assets
Payments for purchase of investment securities
Proceeds from sale of businesses
Payments for leasehold and guarantee deposits
Proceeds from collection of leasehold and guarantee deposits
Payments for purchase of shares of subsidiaries resulting in change in scope of
consolidation

Payments for sales of shares of subsidiaries resulting in change inscope of consolidation
Payments for purchase of shares of subsidiaries and affiliates
Payments of loan receivables
Other, net
Net cash used in investing activities
9(Millions of yen)
Fiscal year ended
June 30, 2021
Amount¥72,588
29,391
4,195
(86)
(241)
(131)
(705)
5,175
(84)
2,826
(494)
1,046
－
(5,111)¥64,265
31,545
16,711
(86)
－
235
(617)
5,704
(237)
964
－
630
(1,269)
－

4,045

2,656

(38)
(4,802)(10,082)(991)(4,145)(1,261)(2,960)(137)(314)(1,624)86,060303(5,171)(20,806)
4,889－(1,254)(11,261)(2,373)
2,727(513)(4,027)(3,445)982(2,915)
2,865
101,287
298(5,659)(19,642)
1,127
1,733

207

52

(347)
65,135(143)
79,054(31,562)
2,598(3,949)(157)
5,978(3,541)
1,121(40,445)
2,548(4,529)(10,006)－(1,033)
3,732(3,723)(26,442)

(52)

－

(102)
(6)
(57)
(33,452)

(802)
(803)
(259)
(78,042)Cash flows from financing activities:
Net decrease in short-term loan payables
Proceeds from long-term loan payables
Repayments of long-term loan payables
Proceeds from issuance of bonds
Redemption of bonds
Repayments of payables under fluidity lease receivables
Proceeds from issuance of common shares
Cash dividends paid
Proceeds from share issuance to non-controlling shareholders
Purchase of treasury shares of subsidiaries
Other, net
Net cash used in financing activities
Effect of foreign exchange rate change on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting
from inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period

10

Fiscal year ended
June 30, 2020
Amount(Millions of yen)
Fiscal year ended
June 30, 2021
Amount¥(1,891)
32,500(20,570)98(22,991)(7,445)380(6,651)627(8,049)(38)(34,030)(350)(2,697)
185,136¥(13,075)
28,864(19,756)－(11,916)(4,547)287(9,509)
1,052
－
(355)
(28,954)
4,009(23,933)
183,602

1,163

1,207

¥183,602¥160,875

Segment Information
1. Overview of Reporting Segments
The reportable segments of the Group are constituent units of the Group for which separate financial information isavailable and which are subject to periodic examination by the Board of Directors and management meetings of theCompany for the purpose of deciding the allocation of management resources and evaluating business results.
The Group consists of segments by business and has determined that “Discount Store business”, “GMS business” and“Rent business” are its reportable segments taking into accounts the business form.
The “Discount Store business” presents stores such as "Don Quijote", "MEGA Don Quijote", "MEGA Don Quijote UNY".
The “GMS business” presents stores such as "APITA", "PIAGO".
The “Rent business” operates tenant invitations, lease and facility management of shopping malls.
2. Calculation of net sales, profit and loss, and assets, etc.
The same accounting method with which is applied to the consolidated financial statements is applied to segment
accounting.
Income of reporting segment and others are calculated based on operating income.
Intersegment sales and transfers are calculated based on market value.
3. Information related to net sales, profit and loss, and assets, etc. by reporting segment
For the Fiscal Year Ended June 30, 2021
(Millions of yen)
Reporting segment
DiscountStorebusiness

GMS
businessRentbusiness

Sub Total

Others(Note 1)

Total

AdjustmConsolidated
ent(Note 3)(Note 2)

Sales, Segment income
Sales
Sales to third parties
Intersegment sales¥1,183,526 ¥449,989¥60,927 ¥1,694,442 ¥14,193 ¥1,708,635¥－ ¥1,708,635

7,026

8,966

1,190

17,183

4,493

21,676 (21,676)－

1,190,553

458,955

62,117

1,711,625

18,686

1,730,311 (21,676)

1,708,635

Segment income (losses)

55,335

16,59913,36285,296(4,453)80,843464

81,306

Segment Assets

703,537

233,120

236,786

1,173,442

181,552

1,354,995

15,2571,370,252

Total

Others (Note 4)(1) Depreciation expenses
20,2904,510
5,687
30,487907
31,394151
31,545(2) Increase in property, plantand equipment, and¥30,258¥5,205¥7,469¥42,932¥1,557¥44,488 ¥1,319¥45,807
intangible assets
Notes
1. “Others” includes the service related to the operation of the Company (Holdings Company) and Credit Card businessand so on, which does not belong to the Reporting segment.
2. The ¥464 million adjustment to segment income is an intersegment elimination.
The ¥15,257 million adjustment to segment assets includes ¥109,631 million of companywide assets not allocated to
the respective reporting segments, and ¥(94,374) million of net eliminations for intersegment transaction.
3. Segment income is adjusted to the consolidated operating income.
4. Increase in property, plant and equipment, and intangible assets includes long-term prepaid expenses.

11For the Fiscal Year Ended June 30, 2020
(Millions of yen)
Reporting segment
DiscountStorebusiness

GMS
businessRentbusiness

Sub Total

Others(Note 1)

Total

AdjustmConsolidated
ent(Note 3)(Note 2)

Sales, Segment income
Sales
Sales to third parties
Intersegment sales¥1,117,507 ¥491,621¥58,229 ¥1,667,357 ¥14,590 ¥1,681,947¥－ ¥1,681,947

5,184

6,721

2,994

14,8996,248

21,147 (21,147)－

1,122,691

498,342

61,223

1,682,256

20,838

1,703,094 (21,147)

1,681,947

Segment income (losses)

46,73816,992

13,57977,309(2,373)74,936488

75,424

Segment Assets

618,010

235,061

227,557

1,080,628

183,310

1,263,938

33,293

1,297,231

Total

Others (Note 4)(1) Depreciation expenses
18,474
4,662
5,182
28,3181,004
29,322
69
29,391(2) Increase in property, plantand equipment, and¥27,914¥2,465¥4,117¥34,496¥1,242¥35,738¥678¥36,416
intangible assets
Notes
1. “Others” includes the service related to the operation of the Company (Holdings Company) and Credit Card businessand so on, which does not belong to the Reporting segment.
2. The ¥488 million adjustment to segment income is an intersegment elimination.
The ¥33,293 million adjustment to segment assets includes ¥136,744 million of companywide assets not allocated to
the respective reporting segments, and ¥(103,451) million of net eliminations for intersegment transaction.
3. Segment income is adjusted to the consolidated operating income.
4. Increase in property, plant and equipment, and intangible assets includes long-term prepaid expenses.

12