Summary Report of Consolidated Financial Results
For the Fiscal Year Ended June 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 fiscal year ended June 30, 2022 (from July 1, 2021 to June30, 2022)(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
1,831,280
7.2
88,6889.2
100,44223.3
61,92815.2
June 30, 2022
Fiscal year ended
1,708,635
1.6
81,232
7.7
81,452
9.2
53,734
7.6
June 30, 2021
(Note) Comprehensive income: 64,081 million yen [10.1%] (FY 2022.6), 58,207 million yen [16.8%] (FY 2021.6)
Net Income
Per Share(Yen)
Fiscal year ended
June 30, 2022
Fiscal year ended
June 30, 2021

Net Income
Per Share-fully
diluted (Yen)

Return on
Equity (%)

Ordinary
Income on Total
Assets (%)

Operating
Income on
Net Sales (%)

102.64102.41

15.3

7.3

4.8

84.74

84.52

13.6

6.1

4.8

(Reference)Equity in earnings of affiliates:498 million yen (FY 2022.6), 237 million yen (FY 2021.6)(Note) The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020) and relevant ASBJ regulations from the beginning of the fiscal year ended June 30, 2022 and each figure forthe fiscal year ended June 30, 2022 is the figure after applying the accounting standard and relevant ASBJ
regulations.
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 fiscal year ended June 30,
2021 reflect the content of the provisional accounting treatment.
(2) Financial Position(Millions of yen, except per-share data)
Total Assets

Ratio of Shareholders’ Equity
to Total Assets (%)

Net assets

Net Assets
per Share (Yen)

As of1,383,678
399,24728.3
657.75June 30,2022
June 30,2021
1,370,115
438,62830.5
659.90(Reference) Equity: 392,220 million yen (as of June 30, 2022), 418,524 million yen (as of June 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 fiscal year ended June 30,2021 reflect the content of the provisional accounting treatment.
(3) The Consolidated Statements of Cash Flows
Cash Flows fromOperating Activities(Millions of yen)

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities

Cash and Cash
Equivalents

Fiscal year ended
95,136(44,756)(53,854)
180,418
June 30, 2022
Fiscal year ended
79,143(78,131)(28,954)
160,875
June 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 fiscal year ended June 30,
2021 reflect the content of the provisional accounting treatment.

12. Dividends
Dividends intotal (annual,Millions of yen)

Dividend payout
ratio (consolidatedbasis, %)Dividends on net
assets (consolidatedbasis, %)16.00

10,147

18.9

2.6

14.00

17.00

10,137

16.6

2.6

14.00

18.00

Dividend per share (yen)Six Months Ended
December 31

Year Ended
June 30

Total

3.00

13.00

3.00
4.00

Year Ended June 30,
2021
Year Ended June 30,
2022
Year Ending June 30,2023 (Forecast)―

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)

Six Months Ending
December 31, 2022
Year Ending
June 30, 2023

Net Sales

Change(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

ProfitAttributableto Owners ofParent

Change(%)

Net IncomeperShare(Yen)

958,300

4.4

53,70023.047,800

7.4

33,0009.5

55.34

1,890,000

3.2

94,0006.0

82,500(17.9)

56,900

(8.1)

95.42

4. Others(1) Significant changes in the scope of consolidation: Yes
Newly consolidated: 1 company (Pan Pacific International Financial Service Corporation) , Excluded:－(2) Changes in accounting policies concerning preparation of consolidated financial statements① Changes in line with revision to accounting standards: Yes② Other changes: None
③ Changes in accounting estimates: Yes④ Restatement: None
(3) Number of outstanding shares (Common shares)① Number of outstanding shares (Treasury shares included) June 30, 2022
June 30, 2021
② Number of treasury shares
June 30, 2022
June 30, 2021
③ Average number of outstanding shares during the period
June 30, 2022
June 30, 2021

634,378,640 shares
634,239,440 shares
38,073,224 shares
18,924 shares603,329,167 shares
634,086,639 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 12,
2022. 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,

2021

2022

AmountAmountAssetsCurrent assetsCash and deposits¥157,522¥176,777

Notes and accounts receivables-trade

21,074

12,728

Accounts receivables - installment

65,491

52,122

Operating loans
Merchandise and finished goods
Prepaid expenses

7,658

8,115

203,416

205,893

7,671

7,904

Deposits paid

4,364

4,768

Other

29,48820,052

Allowance for doubtful accounts(1,276)(1,828)495,406

486,531

Buildings and structures, net

261,481

268,358

Tools, furniture and fixtures, net

32,84835,022Other, net

1,517

1,412

317,402314,711

Construction in progress

7,830

19,649Right of use assets, net

22,672

25,913

Total property, plant and equipment

643,750

665,065

Goodwill

55,411

61,759Other

23,25524,458

Total intangible assets

78,667

86,217

Investment securities

29,082

27,226Long-term loan receivables

1,192

966

Long-term prepaid expenses

5,140

4,859

Retirement benefit asset

16,756

17,455

Deferred tax assets

24,55820,840

Lease and guarantee deposits

73,882

73,225

Total current assets

Non-current assets
Property, plant and equipment

Land

Intangible assets

Investments and other assets

Other3,8023,422

Allowance for doubtful accounts(2,120)(2,129)Total investments and other assets

152,292

145,864

874,709897,146¥1,370,115¥1,383,678

Total non-current assets

Total assets3

(Millions of yen)
As of June 30,

As of June 30,

2021

2022

AmountAmountLiabilities
Current liabilities
Notes and accounts payables - trade¥149,984¥152,885

Short-term loan payables

1,500

－

Current portion of long-term loan payables

33,613

26,918Current portion of bonds

22,566

11,421

191－

46,50849,128

Payables under fluidity lease receivables
Accounts payables – other
Lease obligations

1,380

1,804

Accrued expenses

25,55025,182

Deposits received

28,00013,485

Income taxes payables

11,29913,492

Provision for point card certificates

5,747

1,935

－

11,361

Other

27,211

18,765

Total current liabilities

353,550

326,378

Bond payables

203,976

272,555

Long-term loan payables

271,507276,201

Lease obligations

21,08725,471

Asset retirement obligations

24,16530,338

7－

Other57,19553,488

Total non-current liabilities

577,937

658,053

931,487

984,431

Capital stock

23,153

23,217

Capital surplus

17,121

17,376

Retained earnings

376,152

428,044(15)(80,956)

416,411387,681Contract liabilities

Non-current liabilities

Negative goodwill

Total liabilities

Net assets
Shareholders' equity

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

1,165

520

Foreign currency translation adjustment

749

3,532

Remeasurements of defined benefit plans

199

487

Total accumulated other comprehensive income

2,113

4,539

Share acquisition rights

216

271

Non-controlling interests

19,888

6,755

Total net assets

438,628

399,247¥1,370,115¥1,383,678

Total liabilities and net assets

4Consolidated Statements of Income
Fiscal year ended
June 30, 2021
AmountNet sales(Millions of yen)
Fiscal year ended
June 30, 2022
Amount¥1,708,635¥1,831,280

1,211,400

1,287,892

497,236543,388

416,003454,701

81,232

88,688Non-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

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

855
7498
15,468
4,145
20,973Non-operating expenses
Interest expenses paid on loans and bonds
Cost of claim's liquidation
Commission fee
Other
Total non-operating expenses
Ordinary income

5,704
49
61
911
6,725
81,452

7,509
1450
1,260
9,219
100,442

Extraordinary income
Gain on sales of non-current assets
Gain on insurance claims
Reversal of provision for environmental measures
Other
Total extraordinary income

94
1,269
174
1,437

924－8595
1,105Extraordinary losses
Impairment loss
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

16,711
1,024
630
76
－
257
18,69864,191

5,720
1,433
952
174
548
692
9,519
92,028

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

19,408(9,977)9,430
54,761
1,026

26,812
3,469
30,281
61,747(182)

Profit attributable to owners of parent¥53,734¥61,928

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

5Consolidated Statements of Comprehensive Income(Millions of yen)
Fiscal year ended
June 30, 2022

Fiscal year ended
June 30, 2021
AmountProfitAmount¥54,761¥61,747

Valuation difference on available-for-sale securities

1,181(1,289)Foreign currency translation adjustment

1,985

3,335

192

284

88

5

3,447

2,334

¥58,207¥64,081¥56,242¥64,148

1,966

(67)

Other comprehensive income

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 statements of changes in Net Assets(Millions of yen)
Fiscal year ended
June 30, 2021
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
１ Issuance of new shares
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
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
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
Purchase of shares of consolidated subsidiaries
Total changes of items during period
Balance at end of current period

7

Fiscal year ended
June 30, 2022
Amount¥23,008¥23,153

144
144
23,15365
65
23,217

16,977

17,121

144－144
17,121

65
189
254
17,376332,263

376,152(9,509)53,734(336)
43,889376,152(10,034)
61,928(2)51,892428,044

(15)

(15)

－－
(15)

(80,941)(80,941)(80,956)

372,233

416,411289(9,509)53,734－(336)－
44,178¥416,411

129(10,034)
61,928(80,941)(2)
189(28,730)¥387,681

(Millions of yen)
Fiscal year ended
June 30, 2022
AmountFiscal year ended
June 30, 2021
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¥529¥1,165636
636
1,165(644)(644)
520(865)

749

1,614
1,614
749

2,783
2,783
3,532

(58)

199

257
257
199

288
288
487(394)

2,113

2,507
2,507
2,113

2,427
2,427
4,539

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

218

216

(2)
(2)
216

55
55
271

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

16,942

19,888

(73)
3,019
2,946
19,888－(13,133)(13,133)
6,755

Balance at beginning of current period
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
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

388,999

438,628289(9,509)53,734－(409)－
5,524
49,629¥438,628129(10,034)
61,928(80,941)(2)
189(10,651)(39,381)

Share acquisition rights

Non-controlling interests

Total net assets

8¥399,247

Consolidated Statements of Cash Flows
Fiscal year ended
June 30, 2021
AmountCash flows from operating activities:
Profit before income taxes
Depreciation and amortization
Impairment loss
Amortization of negative goodwill
Increase in allowance for doubtful accounts
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 closing of storesGain on insurance claims
Offset payments for house rental fee with lease and guarantee
deposits
Decrease (increase) in notes and accounts receivables – trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payables – trade
Decrease in accounts receivables – installment
Increase in retirement benefit asset
Increase (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
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 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, 2022
Amount¥64,191
31,53016,711
(86)
235
(617)
5,704
(1,580)
(237)
964
630
(1,269)¥92,028
38,229
5,720
(7)
523
(855)
7,509
(15,468)
(498)
729
952
－

2,656

2,289

(1,254)(11,172)(2,373)
2,727(513)(4,027)(3,445)982(2,915)
4,534
101,376
298(5,659)(19,642)
1,127
1,733

8,274
109
595
13,265
(279)
394
(268)
(14,499)(1,932)(11,126)
125,682532(7,803)(39,111)
15,424
1,051

52

82

(143)
79,143(722)
95,136(40,445)
2,548(4,529)(10,006)(1,033)
3,732(46,577)
6,125(4,139)
(10)
(825)
1,062

(26,531)

(145)

(802)
(803)
(259)
¥(78,131)－(601)
354¥(44,756)

Fiscal year ended
June 30, 2021
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
Repayments of payables under fluidity lease receivables
Proceeds from issuance of common shares
Cash dividends paid
Proceeds from share issuance to non-controlling interests
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 beginning of period
Increase in cash and cash equivalents resulting
from inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period10(Millions of yen)
Fiscal year ended
June 30, 2022Amount¥(13,075)
28,864(19,756)－(11,916)(4,547)287(9,509)1,052¥(1,500)
30,000(36,394)
79,619(22,566)(192)
129(10,034)－－(10,646)－(355)(28,954)
4,009(23,933)
183,602(80,941)(1,328)(53,854)
22,84919,376
160,875

1,207

166

¥160,875¥180,418

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, 2022
(Millions of yen)
Reporting segment
DiscountStorebusiness

GMS
business

Rentbusiness

Sub Total

Others(Note 1)

Total

AdjustmConsolidated
ent(Note 3)(Note 2)

Sales, Segment income
Sales
Sales to third parties
Intersegment sales
Total¥1,327,451 ¥429,598
7,886

11,717¥59,558 ¥1,816,607 ¥14,673 ¥1,831,280¥－ ¥1,831,280

1,256

20,8594,173

25,032 (25,032)－

1,856,312 (25,032)

1,831,280

1,335,338

441,31460,814

1,837,465

18,846

Segment income (losses)

72,23014,57910,366

97,175(8,627)88,547140

88,688Segment Assets

724,568

233,291

240,390

1,198,249

180,717

1,378,966

4,712

1,383,678

Others (Note 4)(1) Depreciation expenses
26,226
4,990
5,888
37,105
1,113
38,217
1238,229(2) Increase in property, plantand equipment, and¥32,527¥7,312¥8,486¥48,324¥2,662¥50,986¥159¥51,145
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 ¥140 million adjustment to segment income is an intersegment elimination.
The ¥4,712 million adjustment to segment assets includes ¥125,831 million of companywide assets not allocated tothe respective reporting segments, and ¥(121,119) 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, 2021
(Millions of yen)
Reporting segment
DiscountStorebusiness

GMS
businessRentbusiness

Sub Total

Others(Note 1)

Total

AdjustmConsolidatedent(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)

55,261

16,59913,36285,221(4,453)80,769464

81,232

Segment Assets

703,489

233,120

236,786

1,173,395

181,463

1,354,858

15,2571,370,115

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 tothe 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.

12