Summary of Consolidated Financial Results
for the Year Ended February 28, 2021(FY2021)(Based on Japanese GAAP)

April 14, 2021

Company name:
ABC-MART, INC.
Stock exchange listing: Tokyo
Stock code:
2670
URL https://www.abc-mart.co.jp/ir/
Representative:
President and Representative Director
Minoru Noguchi
Inquiries:
Director, Corporate Planning Office Manager Jo Kojima
TEL 03-3476-5452
Scheduled date of ordinary general meeting of shareholders:
May 27, 2021
Scheduled date to file Securities Report:
May 31, 2021
Scheduled date to commence dividend payments:
May 28, 2021
Preparation of supplementary material on financial results:
Yes
Holding of financial results meeting:Yes(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended February 28, 2021 (from March 1, 2020 to February 28, 2021)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Year ended February 28, 2021
220,267(19.1)
19,513 (55.0)
21,283(52.0)
19,226(35.3)
Year ended February 29, 2020
272,361
2.1
43,374(1.3)
44,325(1.8)
29,706(1.9)(Note) Comprehensive income:Year ended February 2021 21,165 million yen (-24.9%)
Year ended February 2020 28,175 million yen (0.8%)
Profit attributable to
Diluted earnings per
Ordinary profit/total Operating profit/net
Earnings per shareowners ofshareassetssales
parent/equity
Yen
Yen
%
%
%
Year ended February 28, 2021
232.94
–
7.0
6.8
8.9
Year ended February 29, 2020
359.92
–
11.2
14.6
15.9
(Reference) Equity in earnings of affiliated companies:
Year ended February 2021 - million yen Year ended February 2020- million yen(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen%
Yen
As of February 28, 2021
317,832
278,94387.3
3,363.55
As of February 29, 2020
311,084
271,80987.0
3,279.24(Reference) Shareholders’ Equity:
As of February 28, 2021 277,624 million yen
As of February 29, 2020 270,665 million yen(3) Consolidated cash flows
Cash flows from
Cash flows from
Cash flows from
Cash and cash equivalents
operating activities
investing activities
financing activities
at end of period
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Year ended February 28, 2021
23,487(11,316)(15,016)
146,454
Year ended February 29, 2020
34,547(9,029)(15,652)
149,173
2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end
Yen

Year ended February 29, 2020
Year ended February 28, 2021
Year ending February 28, 2022
(Forecast)Yenof dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

–
–

Yen

85.00
85.00

Yen

–
–

85.00
85.00

170.00170.00

Yen

–

85.00

–

85.00

170.00Millions of yen%

14,031
14,031

47.2
73.0

%

5.3
5.1

67.0

3. Forecast of consolidated financial results for the year ending February 28, 2022 (from March 1, 2021 to February 28, 2022)
Percentages indicate year-on-year changes

Six months ending
August 31, 2021
Full year

Net sales
Millions of yen

Operating profit
Ordinary profit
Profit% Millions of yen% Millions of yen% Millions of yen%

Earnings per share
Yen

123,900

21.3

13,30055.8

13,650

48.5

8,910

60.8

107.95

259,700

17.9

30,40055.8

31,10046.1

20,9308.9

253.581

4. Notes(1) Changes in significant subsidiaries during the year ended February 28, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:No
Changes in accounting estimates:
No
Restatement of prior period financial statements:
No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of February 28, 2021
82,539,646 shares As of February 29, 2020
Number of treasury shares at the end of the period
As of February 28, 2021
470 shares As of February 29, 2020
Average number of shares during the period
Year ended February 28, 2021
82,539,176 shares Year ended February 29, 2020

82,539,646 shares
470 shares
82,535,555 shares(Reference) Summary of Nonconsolidated Financial Statements
1. Nonconsolidated financial results for the year ended February 28, 2021 (from March 1, 2020 to February 28, 2021)(1) Nonconsolidated operating results
Percentages indicate year-on-year changes

Year ended February 28, 2021
Year ended February 29, 2020

Net sales
Millions of yen%
151,909 (21.7)
194,029
1.4

Operating income
Millions of yen%
16,828 (55.8)
38,072(0.8)

Ordinary income
Millions of yen%
19,043 (51.9)
39,554(1.5)

Net income
Millions of yen%
18,611 (31.3)
27,097(0.3)

Equity ratio

Net assets per shareYen
2,979.94
2,897.49

Diluted net income
per share
Yen
Yen
225.49328.31-

Net income per share
Year ended February 28, 2021
Year ended February 29, 2020
(2) Nonconsolidated financial position

As of February 28, 2021
As of February 29, 2020
(Reference) Shareholders’ Equity:
As of February 28, 2021

Total assets
Millions of yen
278,123
270,444245,962 million yen

Net assets
Millions of yen
245,962
239,156

%
88.4
88.4

As of February 29, 2020

239,156 million yen

2. Forecast of nonconsolidated financial results for the year ending February 28, 2022 (from March 1, 2021 to February 28, 2022)
Percentages indicate year-on-year changes

Six months ending
August 31, 2021
Full year

Net sales
Millions of yen

Ordinary income
Millions of yen%

86,43022.9

12,890177,600

16.9

28,080%Net income
Millions of yen%

Net income per share
Yen

52.6

8,590

66.1

104.0747.5

18,7400.7

227.04

THIS CONSOLIDATED FINANCIAL RESULTS STATEMENT AND THIS FINANCIAL RESULTS STATEMENT ARE EXEMPTFROM THE AUDIT PROCEDURES.
FORWARD LOOKING STATEMENTS AND OTHER SPECIAL ITEMSThe forecast for the year ending February 28, 2022 is based on ABC-MART, INC.'s hypotheses, plans and estimates at the date of publication.
some uncertain factors will cause the Company's future performance to differ significantly from the contents of forecast.

2

It is possible that

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of February 29, 2020

As of February 28, 2021

AssetsCurrent assets
Cash and deposits

149,344

138,669

Notes and accounts receivable - trade
Securities

10,493–

10,275
7,957

Inventories
Other

68,011
5,990

63,356
4,997

(36)

(34)

233,803

225,222

31,55933,283

Accumulated depreciation(16,789)(17,900)

Buildings and structures, net

14,77015,382

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment

14,93516,091(9,643)(11,092)

5,292

4,998

17,02917,078

372
452

221
457

(397)

(391)

55

66

37,52037,748Intangible assets
Trademark right

1,162

740

Goodwill
Other

2,054
2,697

1,199
3,126

Total intangible assets

5,914

5,066

Investments and other assets
Investment securities

33

17,161

Shares of subsidiaries and associates
Long-term loans receivable

2,647
1,660

2,563
1,495

Leasehold and guarantee deposits
Deferred tax assets

25,522
3,357

25,453
2,523

Other
Allowance for doubtful accounts

639
(17)

613
(16)

Total investments and other assets

33,84549,79577,28092,610311,084

317,832

Total non-current assets
Total assets3

(Millions of yen)
As of February 29, 2020

As of February 28, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

16,413
2,216

14,468
1,232

Income taxes payable
Provision for bonuses

7,150
985

8,720
996

Provisions
Asset retirement obligations

219
23

237
152

Notes payable - facilities
Other

1,045
9,114

782
10,554

Total current liabilities

37,17037,145

Non-current liabilities
Retirement benefit liability

799

552

Asset retirement obligations
Other

453
852

359
831

Total non-current liabilities

2,105

1,743

39,27538,888

Shareholders' equity
Share capital

19,972

19,972

Capital surplus
Retained earnings

24,043
219,616

24,043
224,811

Total liabilities
Net assets

Treasury shares

(2)

(2)

263,630

268,825

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

4
7,030

2,229
6,569

Total accumulated other comprehensive income

7,035

8,799

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests
Total net assets
Total liabilities and net assets

4

1,143

1,318

271,809

278,943

311,084

317,832

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

February 29, 2020

February 28, 2021

Net sales
Cost of sales

272,361
129,087

220,267
110,004

Gross profit

143,273

110,262

Selling, general and administrative expenses
Packing and transportation costs

3,695

3,594

Advertising expenses
Storage costs

6,991
3,041

6,239
3,037

Remuneration, salaries and allowances for directors (and otherofficers)

26,96423,877

Bonuses
Provision for bonuses

1,729
984

1,752
995

Retirement benefit expenses
Legal and other welfare expenses

652
4,042

294
3,834

Rent expenses on land and buildings
Depreciation

27,567
4,902

24,788
5,103

Utilities expenses
Commission expenses

2,173
6,590

1,989
5,857

Taxes and dues
Amortization of goodwill

1,786
783

1,608
764

Other

7,994

7,010

Total selling, general and administrative expenses

99,89990,74843,374

19,513Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Rent Income
Advertising medium income
Other

136

59

1
–

695
315

1,011
37

968
34

494

367

1,681

2,441

Interest expenses
Foreign exchange losses

9
88

6
–

Rental expenses
Other

539
93

516
147

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary profit

5

730

671

44,32521,283

(Millions of yen)
Fiscal year ended
February 29, 2020

Fiscal year ended
February 28, 2021

Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities

5
–

5
9,221

Employment adjustment subsidies for covid19–

849

Total extraordinary income

5

10,076

192
767

210
628

–
1

1,389
16

960

2,245

Profit before income taxes

43,36929,115

Income taxes - current

13,792

9,874

Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Loss due to covid19
Other
Total extraordinary losses

Income taxes - deferred

(381)

(144)

Total income taxes

13,4109,729

Profit29,95819,385252

159

29,706

19,226

Profit attributable to non-controlling interests
Profit attributable to owners of parent

6

Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended
February 29, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income

Fiscal year ended
February 28, 2021

29,95819,385(3)

2,225(1,779)(445)(1,783)

1,779

Comprehensive income

28,175

21,165Comprehensive income attributable toComprehensive income attributable to owners of parent

27,907

20,990268

174

Comprehensive income attributable to non-controllinginterests

7

Consolidated statements of changes in equity
Fiscal year ended February 29, 2020
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

19,972Retained earnings

23,979Total shareholders'equityTreasury shares

205,591(2)

249,542

Changes during period
Dividends of surplus(15,681)(15,681)

Profit attributable to ownersof parent

29,70629,706

Purchase of treasury shares(0)

Increase by merger

(0)

63

63

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period–

63

14,025(0)

14,08819,972

24,043

219,616(2)

263,630

Accumulated other comprehensive income
Valuation difference on
Foreign currency
available-for-saletranslation adjustment
securities
Balance at beginning of period

8

8,825

Total accumulated
other comprehensive
income8,833

Non-controllinginterests
938

Total net assets

259,315

Changes during period
Dividends of surplus(15,681)

Profit attributable to ownersof parent

29,706

Purchase of treasury shares(0)

Increase by merger

63

Net changes in items otherthan shareholders' equity(3)(1,795)(1,798)

Total changes during period(3)(1,795)(1,798)204

12,494

Balance at end of period

4

7,030

7,035

1,143

271,8098

204(1,594)

Fiscal year ended February 28, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

19,972Retained earnings

24,043

Total shareholders'equityTreasury shares

219,616(2)

263,630

Changes during period
Dividends of surplus(14,031)(14,031)

Profit attributable to ownersof parent

19,226

19,226

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–

–

5,195

–

5,195

19,972

24,043

224,811(2)

268,825

Accumulated other comprehensive income
Valuation difference on
Foreign currency
available-for-saletranslation adjustment
securities
Balance at beginning of period

4

7,030

Total accumulated
other comprehensive
income7,035

Non-controllinginterests
1,143

Total net assets

271,809

Changes during period
Dividends of surplus(14,031)

Profit attributable to ownersof parent

19,226

Net changes in items otherthan shareholders' equity

2,225

(461)

1,764

174

1,939

Total changes during period

2,225

(461)

1,764

174

7,134

Balance at end of period

2,229

6,569

8,799

1,318

278,9439Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
February 29, 2020

Fiscal year ended
February 28, 2021

Cash flows from operating activities
Profit before income taxes
Depreciation

43,3695,085

29,115
5,406

69
(5)

10
(0)

(138)
9

(755)
6

Foreign exchange losses (gains)
Loss (gain) on sales of investment securities

56
–

(281)
(9,221)

Loss (gain) on sales and retirement of non-current assets
Impairment loss

187
767

204
628

Decrease (increase) in trade receivables
Decrease (increase) in inventories(633)(2,930)239
4,253

Increase (decrease) in trade payables
Other, net

2,253
647

(1,177)2,919

Subtotal

48,73731,347

132
(9)

397
(5)

Income taxes paid

(14,312)(8,251)

Net cash provided by (used in) operating activities

34,54723,487

Payments into time deposits
Purchase of property, plant and equipment(5)(6,674)–(5,367)

Proceeds from sales of property, plant and equipment
Purchase of intangible assets

101(1,051)12(1,237)–(93,586)–

88,944

Increase (decrease) in provision for bonuses
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses

Interest and dividends received
Interest paid

Cash flows from investing activities

Purchase of short-term and long-term investment securities
Proceeds from sales of short-term and long-term investment
securities
Payments for store removal

(95)

(96)

Loan advances
Collection of loans receivable

(120)
268

(100)
269

(2,053)715(1,478)
1,473

(157)
43

(155)
5

(9,029)(11,316)

Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Other payments
Other proceeds
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings

24

(984)

Dividends paid
Other payments(15,676)(0)(14,032)(0)

Net cash provided by (used in) financing activities(15,652)(15,016)

Effect of exchange rate change on cash and cash equivalents

(436)

126

Net increase (decrease) in cash and cash equivalents

9,429(2,719)Cash and cash equivalents at beginning of period

139,743

149,173

Cash and cash equivalents at end of period

149,173

146,45410