Summary Report of Consolidated Financial Results
For the First Quarter Ended September 30, 2022

(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 first quarter of fiscal 2023 (From July 1, 2022 to September
30, 2022)(1) Results of Business Operations(Millions of yen, except per-share data)
ProfitNet
Change Operating
ChangeOrdinary
ChangeAttributable
Change
(%)
Sales
(%)
Income(%)
Income(%)
to Owners ofParent
Three Months Ended
473,694
6.3
23,87048.4
28,68574.2
18,44948.8
September 30, 2022
Three Months Ended
445,474
6.5
16,090(30.7)
16,462(27.8)
12,397(24.7)
September 30, 2021
(Note) Comprehensive income: 24,702 million yen [105.1%] (FY 2023.6 1Q), 12,046 million yen [(29.0)%] (FY 2022.6 1Q)
Net Income Per Share(Yen)Net Income Per Share-fully
diluted (Yen)Three Months Ended
30.94
30.86
September 30, 2022
Three Months Ended
19.84
19.80
September 30, 2021
(Note) During the consolidated accounting period for the second quarter of the fiscal year ended June 30, 2022, provisional
accounting treatment for business combinations has been finalized. The figures for the first quarter of the fiscalyear ended June 30, 2022 reflect the content of the provisional accounting treatment.
(2) Financial Position
Total Assets

Ratio of Shareholder’s Equity
to Total Assets(%)

Net assets

As of September 30,
1,387,919
413,151
29.4
2022
June 30, 2022
1,383,678
399,247
28.3(Reference) Equity: 407,953 million yen (as of September 30, 2022), 392,220 million yen (as of June 30, 2022)
2. Dividends
Three Months End
of 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－Year Endof June 30

Total

3.00

－

14.00

17.00

4.00

－

14.00

18.00

－(Note) Revision to the dividend forecast in the first 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(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

Six Months Ending
958,300
4.4
53,70023.047,8007.4
December 31, 2022
Year Ending
1,890,000
3.2
94,0006.0
82,500(17.9)
June 30, 2023
(Note) Revision to the business forecast in the first quarter of fiscal 2023: None

1

ProfitAttributableto Owners ofParentChange(%)

Net IncomeperShare(Yen)

33,0009.5

55.34

56,900

(8.1)

95.42

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
financial statements: 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) September 30, 2022
June 30, 2022
② Number of treasury shares
September 30, 2022
June 30, 2022
③ Average number of outstanding shares during the period
September 30, 2022
September 30, 2021

634,451,040 shares
634,378,640 shares
38,073,224 shares
38,073,224 shares
596,333,503 shares
624,732,012 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 November 8,2022. 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 September 30,

2022

2022

AmountAmountAssets
Current assets
Cash and deposits¥176,777¥156,780

Notes and accounts receivables-trade

12,72813,820Accounts receivables - installment

52,122

54,100Operating loans
Merchandise and finished goods
Prepaid expenses

8,115

8,216

205,893

199,930

7,904

8,959

Deposits paid

4,768

4,616

Other

20,052

23,268

Allowance for doubtful accounts(1,828)(2,035)486,531467,655

268,358

269,971

Total current assets

Non-current assets
Property, plant and equipment
Buildings and structures, net
Tools, furniture and fixtures, net

35,022

36,063

Land

314,711

319,085

Construction in progress

19,64924,588Right of use assets, net

25,91329,825

Other, net

1,412

1,374

665,065

680,906

Goodwill

61,75964,839Other

24,45825,929Total intangible assets

86,21790,768

Total property, plant and equipment
Intangible assets

Investments and other assets
Investment securities

27,226

31,819Long-term loan receivables

966

953

Long-term prepaid expenses

4,859

4,662

Retirement benefit asset

17,455

17,518Deferred tax assets

20,84018,669Lease and guarantee deposits

73,22573,430

Other

3,422

3,659

Allowance for doubtful accounts(2,129)(2,121)

145,864

148,590

897,146920,264¥1,383,678¥1,387,919

Total investments and other assets
Total non-current assets

Total assets3

(Millions of yen)
As of June 30,

As of September 30,

2022

2022

AmountAmountLiabilities
Current liabilities
Notes and accounts payables - trade
Short-term loan payables
Current portion of long-term loan payables¥152,885¥157,841－

1,014

26,91831,893Current portion of bonds

11,421

11,150Accounts payables – other49,12841,821

Lease obligations

1,804

1,843

Accrued expenses

25,182

22,190

Deposits received

13,48518,992

Income taxes payables

13,492

7,681

Provision for point card certificates

1,935

2,408

Contract liabilities

11,361

11,951

Other

18,765

19,513

Total current liabilities

326,378

328,296

Bond payables

272,555

272,050

Long-term loan payables

276,201

260,879

Lease obligations

25,471

29,574

Asset retirement obligations

30,33830,588Non-current liabilities

Other

53,48853,380Total non-current liabilities

658,053

646,472

984,431974,768

23,217

23,251

Total liabilities

Net assets
Shareholders' equity
Capital stock

Capital surplus

17,376

17,409Retained earnings

428,044438,033

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

Total shareholders' equity

387,681

397,737520

412

Foreign currency translation adjustment

3,532

9,336

Remeasurements of defined benefit plans

487

467

4,539

10,215271

271

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

4,928

399,247

413,151¥1,383,678¥1,387,919

Consolidated Quarterly Statements of Income
Three months endedSeptember 30, 2021
Amount(Millions of yen)Three months ended
September 30, 2022
Amount¥445,474¥473,694

317,997

329,417

127,477

144,277

111,387

120,407

16,09023,870Non-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

514
7175
615
1,140
2,451

340
－150
5,594
857
6,940

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

1,937
1141
2,079
16,462

1,952－
173
2,125
28,685

2－－
24
3
3
10142
20
6
11
178
16,286

196
－
21
1218
28,477

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

3,239
433
3,672
12,613
216

7,157
2,346
9,503
18,973
525

Profit attributable to owners of parent¥12,397¥18,449

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

Extraordinary income
Gain on sales of non-current assetsReversal of provision for environmental measures
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on closing of stores
Loss on disaster
Other
Total extraordinary losses
Profit before income taxes

5Consolidated Quarterly Statements of Comprehensive Income

ProfitThree months ended
September 30, 2021

(Millions of yen)Three months ended
September 30, 2022

AmountAmount¥12,613¥18,973

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

249

(120)

Foreign currency translation adjustment

(810)

5,862

(3)

(10)

(3)

(4)

(567)

5,728

¥12,046¥24,702¥11,730¥24,125

316

577

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

6Consolidated Quarterly Statements of Cash Flows
Three months ended
September 30, 2021
Amount(Millions of yen)Three months ended
September 30, 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
Increase in notes and accounts receivables – trade
Decrease (increase) in inventories
Increase in notes and accounts payables – trade
Decrease (increase) in accounts receivables – installment
Decrease in accounts payables – other
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Payments for loss on disasterNet cash provided by (used in) operating activities¥16,286
9,052(5,187)(514)
1,937(615)
(175)
141
(1,132)
(9)
3,498
2,646
(2,684)(3,167)
20,077364(1,630)(22,545)3(13)(3,744)¥28,477
10,170(1,776)(340)
1,952(5,594)
(150)
192
(991)
8,045
3,158
(2,004)(2,465)(5,793)32,882437(1,578)(12,023)－(41)
19,677

Cash flows from investing activities:
Payments for purchase 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(10,272)
(918)
－
(245)
319
(176)
(7)
(11,301)(18,921)(2,367)(3,386)
(369)
40
(258)
(16)
(25,276)

68,500(14,947)(1,828)(192)(8,245)
48

976(11,484)(776)－(8,348)67－(2,239)(80,941)(340)(37,946)85(52,905)
160,875－(463)(22,268)
9,547(18,320)
180,418－(1,852)¥107,970¥160,246

Cash flows from financing activities:
Net increase in short-term loan payables
Repayments of long-term loan payables
Redemption of bonds
Repayments of payables under fluidity lease receivables
Cash dividends paid
Proceeds from issuance of common shares
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 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
Cash and cash equivalents at the end of period7

Segment Information
For the First Quarter Ended September 30, 2022
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment
DomesticBusinessNorth America
businessAsiabusiness

Total

Adjustment

Consolidated

Sales, Segment incomeSales¥398,294¥55,665¥19,735¥473,694¥－¥473,694

2,429－182,447(2,447)－Total400,723

55,66519,752476,141(2,447)473,694

Segment income¥21,563¥1,741¥565¥23,870¥－¥23,870

Sales to third parties
Intersegment sales

Notes
1. Segment income is adjusted to the quarterly consolidated operating income.
2. Segment information for the first quarter Ended September 30, 2021 is disclosed based on the amount after reflecting
a significant revision of the initial allocation of acquisition costs due to the finalization of provisional accounting
treatment.
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 First Quarter Ended September 30, 2021
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment
DomesticBusinessNorth America
businessAsiabusiness

Total

Adjustment

Consolidated

Sales, Segment income
Sales¥384,675¥46,340¥14,460¥445,474¥－¥445,474

3,002

－

－

3,002

(3,002)－

Total

387,677

46,34014,460448,476(3,002)445,474

Segment income¥13,888¥2,060¥142¥16,090¥－¥16,090

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 applicable8