Summary Report of Consolidated Financial Results
For the Third Quarter Ended March 31, 2023

(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 third quarter of fiscal 2023 (From July 1, 2022 to March 31,2023)(1) Results of Business Operations(Millions of yen, except per-share data)
ProfitChange Operating
ChangeOrdinary
ChangeAttributable
ChangeNet Sales(%)(%)
Income(%)
Income(%)
to Owners ofParent
Nine Months Ended
1,457,204
6.3
81,71329.5
80,69519.2
51,48912.0
March 31, 2023
Nine Months Ended
1,370,479
8.1
63,080(5.7)
67,7070.2
45,984
1.7
March 31, 2022
(Note) Comprehensive income: 57,867 million yen [26.4%] (FY 2023.6 3Q), 45,769 million yen [2.5%] (FY 2022.6 3Q)
Net Income Per Share(Yen)Net Income Per Share-fully
diluted (Yen)

86.33

86.12

75.92

75.74

Nine Months Ended
March 31, 2023
Nine Months Ended
March 31, 2022

(2) Financial Position
Ratio of Shareholder’s Equity
to Total Assets(%)
As of March 31, 2023
1,437,140
444,419
30.5
June 30, 2022
1,383,678
399,247
28.3(Reference) Equity: 438,646 million yen (as of March 31, 2023), 392,220 million yen (as of June 30, 2022)
Total Assets

Net assets

2. Dividends
Three Months Endof September 30
Year Ended June 30,
2022
Year Ending June 30,2023
Year Ending June 30,2023 (Forecast)

Annual Dividends per share
Six Months End ofNine Months End ofDecember 31
March 31

－

3.00

－－

4.00

－Year Endof June 30

Total

14.00

17.00

14.00

18.00

(Note) Revision to the dividend forecast in the Third quarter of fiscal 2023: None
3. Consolidated Business Forecast：For the year ending June 30, 2023 (From July 1, 2022 to June 30, 2023)(Millions of yen, except per-share data)
Net Sales

Change(%)

OperatingIncomeChange(%)

Ordinary
IncomeChange(%)

Year Ending
1,920,000
4.8
97,70010.2
94,000(6.4)
June 30, 2023(Note) Revision to the business forecast in the Third quarter of fiscal 2023: Yes

1ProfitAttributableto Owners ofParent

Change(%)

Net
Income perShare(Yen)

62,0000.1

103.93

4. Others(1) Significant changes in the scope of consolidation: Yes
Newly consolidated: － , Excluded: 1 company (B'CAUSE Pte. Ltd.)(2) Simplified accounting methods and special accounting methods for preparation of the quarterly consolidated financialstatements: None
(3) Changes in accounting policies concerning preparation of consolidated financial statements① Changes in line with revision to accounting standards: None
② Other changes: None
③ Changes in accounting estimates: None
④ Restatement: None
(4) Number of outstanding shares (Common shares)① Number of outstanding shares (Treasury shares included) March 31, 2023
June 30, 2022
② Number of treasury shares
March 31, 2023
June 30, 2022
③ Average number of outstanding shares during the period
March 31, 2023
March 31, 2022

634,617,840 shares
634,378,640 shares
38,073,224 shares
38,073,224 shares
596,410,850 shares
605,670,375 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, including changes
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 May 10, 2023.
Presentation materials for the briefing will be available on the Company’s website.

2

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

As of March 31,

2022

2023

AmountAmountAssetsCurrent assets
Cash and deposits¥176,777¥208,063

Notes and accounts receivables-trade

12,72814,508

Accounts receivables - installment

52,12254,425

Operating loans

8,115

8,715

Merchandise and finished goods

205,893

192,407

Prepaid expenses

7,904

8,367

Deposits paid

4,768

4,852

Other

20,052

26,976

Allowance for doubtful accounts(1,828)(2,349)486,531515,964

Buildings and structures, net

268,358

288,427

Tools, furniture and fixtures, net

35,022

34,767

Total current assets

Non-current assets
Property, plant and equipment

Land314,711

318,995

Construction in progress

19,64913,404Right of use assets, net

25,91328,872Other, net

1,412

1,367

665,065

685,832

61,75958,433

Other

24,45828,303

Total intangible assets

86,21786,73627,22633,399Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets
Investment securities
Long-term loan receivables

966

353

Long-term prepaid expenses

4,859

4,405

Retirement benefit asset

17,455

17,565

Deferred tax assets

20,84018,885

Lease and guarantee deposits

73,22572,607

Other

3,422

3,520

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets

Total assets

3(2,129)(2,125)

145,864

148,608

897,146

921,176¥1,383,678¥1,437,140

(Millions of yen)
As of June 30,

As of March 31,2022

2023

AmountAmountLiabilities
Current liabilities
Notes and accounts payables - trade¥152,885¥161,487

Current portion of long-term loan payables

26,91833,906

Current portion of bonds

11,421

10,930Accounts payables – other49,12849,610

Lease obligations

1,804

1,968

Accrued expenses

25,182

22,585

Deposits received

13,485

15,913

Income taxes payables

13,492

15,533

Provision for point card certificates

1,935

1,506

Contract liabilities

11,361

12,974

Other

18,76518,507

Total current liabilities

326,378

344,920

Bond payables

272,555

261,625

Long-term loan payables

276,201

273,162

Lease obligations

25,471

28,678Asset retirement obligations

30,33830,900Non-current liabilities

Other

53,48853,437

Total non-current liabilities

658,053

647,801

984,431992,721

23,21723,329Total liabilities

Net assets
Shareholders' equity
Capital stock
Capital surplus

17,376

17,487Retained earnings

428,044468,688

Treasury shares(80,956)(80,956)

Total shareholders' equity

387,681428,547

520

1,007

Foreign currency translation adjustment

3,532

8,648

Remeasurements of defined benefit plans

487

443

4,539

10,099271

604

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4

6,755

5,169

399,247

444,419¥1,383,678¥1,437,140

Consolidated Quarterly Statements of Income
Nine months ended
March 31, 2022
AmountNet sales(Millions of yen)
Nine months ended
March 31, 2023
Amount¥1,370,479¥1,457,204

970,161

1,006,717

400,318

450,487

337,238

368,774

63,08081,713Non-operating income
Interest and dividend income
Amortization of negative goodwill
Share of profit of entities accounted for using equity method
Foreign exchange gains
OtherTotal non-operating income

714
7387
7,211
2,956
11,276

673
－468
17
3,781
4,939

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

5,505
1
1,144
6,649
67,707

5,709－
248
5,957
80,695Extraordinary income
Gain on sales of non-current assets
Reversal of provision for environmental measures
Other
Total extraordinary income

923
85
46
1,055

123
3146

Extraordinary losses
Loss on retirement of non-current assets
Loss on closing of stores
Loss on disaster
Loss on litigation
Other
Total extraordinary losses
Profit before income taxes

877
84
195
542
237
1,936
66,826

738
627
38－
271
1,673
79,067

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

17,8492,445
20,29446,532548

25,635
1,490
27,12451,943454

Profit attributable to owners of parent¥45,984¥51,489

Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income

5Consolidated Quarterly Statements of Comprehensive Income

ProfitNine months ended
March 31, 2022

(Millions of yen)
Nine months ended
March 31, 2023

AmountAmount¥46,532¥51,943(1,117)835

Foreign currency translation adjustment344

5,125

Remeasurements of defined benefit plans, net of tax

(9)

(31)

20(6)

Other comprehensive income
Valuation difference on available-for-sale securities

Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income
Comprehensive income

(762)

5,924

¥45,769¥57,867¥45,546¥57,049

224

818

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

6Consolidated Quarterly Statements of Cash Flows
Nine months ended
March 31, 2022
AmountCash flows from operating activities:
Profit before income taxes
Depreciation and amortization
Decrease in provisions
Interest and dividend income
Interest expenses paid on loans and bonds
Foreign exchange gains
Share of profit of affiliates accounted for using equity method
Loss on sales and retirement of non-current assets
Loss on store closings
Increase in notes and accounts receivables – trade
Decrease (increase) in inventories
Increase in notes and accounts payables – trade
Decrease (increase) in accounts receivable - installment
Increase in accounts payables - other
Increase in deposits received
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Payments for loss on disaster
Dividends received from affiliates accounted for using equity method
Net cash provided by operating activities
Cash flows from investing activities:
Payments for purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payments for purchase of intangible assets
Payments for purchase of shares of subsidiaries and affiliates
Payments for leasehold and guarantee deposits
Proceeds from collection of leasehold and guarantee deposits
Payment for store opening in progress
Other, net
Net cash used in investing activities

7(Millions of yen)
Nine months ended
March 31, 2023
Amount¥66,826
28,210(6,301)(714)
5,505(7,211)(387)
23
84(4,376)(1,764)
5,322
11,992
1,919
1,819(10,300)
90,645469(5,253)(36,046)
15,421(655)
21
64,602¥79,067
31,199(2,587)
(673)
5,709
(17)
(468)
734
627
(1,766)
14,5667,700(2,379)
1,304
2,431
1,033
136,480619(5,338)(28,433)
575
(91)
53
103,864(33,771)
4,944(2,961)－(477)
993
(666)
(230)
¥(32,167)(40,463)
13(6,592)(3,386)
(786)
652
(405)
(26)
¥(50,992)

Nine months ended
March 31, 2022
AmountCash 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
Cash dividends paid
Purchase of shares of subsidiaries not resulting in change in scope ofconsolidation
Purchase of treasury shares
Other, net
Net cash used in financing activities
Effect of foreign exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of period
Decrease in cash and cash equivalents resulting
from inclusion of subsidiaries in consolidation
Increase in cash and cash equivalents resulting
from merger with unconsolidated subsidiaries
Cash and cash equivalents at the end of period8(Millions of yen)
Nine months ended
March 31, 2023
Amount¥(1,500)
30,000(35,119)
79,619(22,566)(10,034)¥－
30,000(25,593)－(11,421)(10,734)(80,941)－(10,361)(1,137)(52,039)
9,981(9,624)
160,875(2,239)(922)(20,909)
1,212
33,176
180,418－(1,852)－

104¥151,252¥211,845

Segment Information
For the third Quarter Ended March 31, 2023
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment
Adjustment

Consolidated¥1,457,204¥－¥1,457,204

103

8,233

(8,233)－

177,509

62,021

1,465,438(8,233)

1,457,204¥5,598¥1,861¥81,713¥－¥81,713

Domestic
business

North America
business

Asiabusiness¥1,217,778¥177,509¥61,918

8,130－Total

1,225,908

Segment income¥74,255

Total

Sales, Segment income
Sales
Sales to third parties
Intersegment sales

NoteSegment income is adjusted to the quarterly consolidated operating income.
2. Information concerning changes in reporting segments
The group will strive to improve profitability in domestic business by (1) expanding business value chain, (2) providing
new CV (Convenience) + D (Discount) + A (Amusement) through DX, (3) promoting organizational integration andproductivity improvement, and (4) systematically creating new business categories, while overseas, also aims to expand
its scale by continuing to open new stores in both Asia and North America.
In addition, we have formulated a new medium- to long-term management plan, "Visionary 2025/2030," which aims toimprove profitability through the establishment of a global value chain.
Therefore, we added business segment and reviewed the classification method, in the first quarter ended September 30,
2022. The three reporting segments “Discount Store business”, “GMS business” and “Rent business” have been reconciled
into three “Domestic business”, “North America business” and “Asia business”.
Segment information for the previous fiscal year is disclosed based on this reclassifications.
3. Information concerning impairment loss of fixed assets or goodwill by reporting segment
Not applicable
For the third Quarter Ended March 31, 2022
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment
Adjustment

Consolidated¥1,370,479¥－¥1,370,479

8,769(8,769)－49,1291,379,248(8,769)1,370,479¥1,561¥63,080¥－¥63,080

Domestic
business

North America
businessAsiabusiness¥1,173,296¥148,054¥49,129

8,769

－

－

Total1,182,065

148,054

Segment income¥53,178¥8,340

Total

Sales, Segment income
Sales
Sales to third parties
Intersegment sales

Note
Segment income is adjusted to the quarterly consolidated operating income.
2. Information concerning impairment loss of fixed assets or goodwill by reporting segment
Not applicable9