Summary of Consolidated Financial Results
for the Year Ended February 28, 2022(FY2022)(Based on Japanese GAAP)
April 13, 2022
Company name:
ABC-MART, INC.
Stock exchange listing: Tokyo
Stock code:
2670
URL http://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 26, 2022
Scheduled date to file Securities Report:
May 30, 2022
Scheduled date to commence dividend payments:
May 27, 2022
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, 2022 (from March 1, 2021 to February 28, 2022)(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, 2022
243,946
10.8
27,44640.7
28,26032.8
17,382(9.6)
Year ended February 28, 2021
220,267(19.1)
19,513(55.0)
21,283(52.0)
19,226(35.3)(Note) Comprehensive income:Year ended February 2022 19,945 million yen (-5.8%)
Year ended February 2021 21,165 million yen (-24.9%)
Profit attributable toOrdinary profit/total Operating profit/net
Diluted earnings perowners ofEarnings per shareassetssales
shareparent/equity
Yen
Yen
%
%
%
Year ended February 28, 2022
210.60
–
6.2
8.9
11.3
Year ended February 28, 2021
232.94
–
7.0
6.8
8.9
(Reference) Equity in earnings of affiliated companies:
Year ended February 2022
- million yen Year ended February 2021
- 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, 2022
317,720284,88189.2
3,432.30
As of February 28, 2021
317,832
278,94387.3
3,363.55(Reference) Shareholders’ Equity:
As of February 28, 2022 283,298 million yen
As of February 28, 2021
277,624 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, 2022
25,157(7,458)(13,918)
151,770
Year ended February 28, 2021
23,487(11,316)(15,016)
146,454
2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end
Yen
Yen
Yen
Yen

Year ended February 28, 2021
Year ended February 28, 2022
Year ending February 28, 2023
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total
Yen

Millions of yen

%

%

–
–

85.00
85.00

–
–

85.00
85.00

170.00170.0014,031
14,031

73.0
80.7

5.1
5.0

–

85.00

–

85.00

170.00–3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
132,200
9.0
15,90011.1
16,0008.4
10,5000.4
127.21
August 31, 2022
Full year
271,700
11.4
32,00016.6
32,20013.9
20,90020.2
253.21
1

4. Notes(1) Changes in significant subsidiaries during the year ended February 28, 2022
(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
No
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
No
No
Changes in accounting estimates:
No
Restatement of prior period financial statements:(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, 2022
82,539,646 shares As of February 28, 2021
Number of treasury shares at the end of the period
As of February 28, 2022
472 shares As of February 28, 2021
Average number of shares during the period
Year ended February 28, 2022
82,539,175 shares Year ended February 28, 2021

82,539,646 shares
470 shares
82,539,176 shares(Reference) Summary of Nonconsolidated Financial Statements
1. Nonconsolidated financial results for the year ended February 28, 2022 (from March 1, 2021 to February 28, 2022)(1) Nonconsolidated operating results
Percentages indicate year-on-year changes

Year ended February 28, 2022
Year ended February 28, 2021

Net sales
Millions of yen%
169,77611.8
151,909 (21.7)

Operating income
Millions of yen%
25,05348.9
16,828 (55.8)

Ordinary income
Millions of yen%
26,28638.0
19,043 (51.9)

Net income
Millions of yen%
16,452 (11.6)
18,611 (31.3)

Equity ratio

Net assets per shareYen
3,006.38
2,979.94

Diluted net income
per share
Yen
Yen
199.33225.49-Net income per share
Year ended February 28, 2022
Year ended February 28, 2021
(2) Nonconsolidated financial position

As of February 28, 2022
As of February 28, 2021
(Reference) Shareholders’ Equity:
As of February 28, 2022

Total assets
Millions of yen
272,980
278,123

Net assets
Millions of yen
248,144245,962

248,144 million yen

%
90.9
88.4

As of February 28, 2021

245,962 million yen

2. Forecast of nonconsolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes

Six months ending
August 31, 2022
Full year

Net sales
Millions of yen%

90,4306.5

181,700

7.0

Ordinary income
Millions of yen%

Net income
Millions of yen%

Net income per share
Yen

14,200

9.9

9,450

2.1

114.4928,2007.3

18,75014.0

227.16THIS 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, 2023 is based on ABC-MART, INC.'s hypotheses, plans and estimates at the date of publication. It is possible thatsome uncertain factors will cause the Company's future performance to differ significantly from the contents of forecast.

2Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of February 28, 2021

As of February 28, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade138,669
10,275

141,767
11,091

Securities
Inventories

7,957
63,356

10,181
59,847

Other
Allowance for doubtful accounts

4,997
(34)

4,180
(145)

225,222226,923

33,283(17,900)

34,711(19,233)

15,382

15,47816,091(11,092)

17,116(12,757)

4,998

4,359

17,078221

19,198
293

457
(391)

438
(394)

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net

66

44

37,74839,373

Trademark right
Goodwill

740
1,199

393
509

Other

3,126

3,935

Total intangible assets

5,066

4,837

Investment securities
Shares of subsidiaries and associates

17,161
2,563

14,567609

Long-term loans receivable
Leasehold and guarantee deposits

1,495
25,4531,450
25,960Retirement benefit asset
Deferred tax assets

–
2,523

1
3,416

Other
Allowance for doubtful accounts

613
(16)

596
(16)

Total investments and other assets

49,79546,58592,61090,796

317,832

317,720

Total property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of February 28, 2021

As of February 28, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade14,468

13,161

Short-term borrowings
Income taxes payable

1,232
8,720

1,350
4,884

Provision for bonuses
Provisions

996
237

984
226

Asset retirement obligations
Notes payable - facilities

152
782

205
933

Other

10,554

9,521

Total current liabilities

37,14531,268

552
359

313
345

Non-current liabilities
Retirement benefit liability
Asset retirement obligations
Other

831

911

1,743

1,570

38,88832,838

Share capital
Capital surplus

19,972
24,043

19,972
24,043Retained earnings
Treasury shares

224,811(2)

228,162(2)

Total shareholders' equity

268,825

272,176

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

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

2,229

1,991

Foreign currency translation adjustment

6,569

9,131

Total accumulated other comprehensive income

8,799

11,122

1,318

1,582

278,943284,881

317,832

317,720

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

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
February 28, 2021

Fiscal year ended
February 28, 2022

Net sales

220,267

243,946

Cost of sales

110,004

119,058

Gross profit

110,262

124,887

Packing and transportation costs
Advertising expenses

3,594
6,239

3,693
6,274

Storage costs
Remuneration, salaries and allowances for directors (and other

3,037

2,751

23,87725,720

1,752

1,723

995
294

982
461

Legal and other welfare expenses
Rent expenses on land and buildings

3,834
24,7883,926
27,207

Depreciation
Utilities expenses

5,103
1,989

5,472
2,075

Commission expenses
Taxes and dues

5,857
1,608

6,724
1,648

Amortization of goodwill
Other

764
7,010

786
7,990

Total selling, general and administrative expenses

90,74897,44019,51327,446

Interest income
Dividend income

59
695

47
131

Foreign exchange gains
Rent Income

315
968

6
1,049

Advertising medium income
Other

34
367

34
232

Total non-operating income

2,441

1,501

Selling, general and administrative expenses

officers)
Bonuses
Provision for bonuses
Retirement benefit expenses

Operating profit
Non-operating income

Non-operating expenses
Interest expenses

6

20

Rental expenses
Other

516
147

630
36

Total non-operating expenses

671

687

21,28328,260Ordinary profit

5

(Millions of yen)

Extraordinary income
Gain on sale of non-current assets

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 20225

821

Gain on sale of investment securities
Employment adjustment subsidies for covid19

9,221
849

74
608

Total extraordinary income

10,076

1,505

210

208

628
–

1,194
273

–
1,389

1,954
294

16

–

Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Loss on valuation of investment securities
Loss on valuation of shares of subsidiaries and associates
Loss due to covid19
Other

2,245

3,925

Profit before income taxes

Total extraordinary losses

29,11525,840

Income taxes - current
Income taxes - deferred

9,874
(144)

9,078
(711)

Total income taxes

9,729

8,367

Profit19,385

17,473

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

6

159

90

19,226

17,382

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

19,385

17,473

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

2,225
(445)

(263)
2,735

Total other comprehensive income

1,779

2,472

21,165

19,94520,99019,681

174

264

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

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

Capital surplus

Retained earnings

Total shareholders'equityTreasury shares

19,972

24,043

219,616(2)

263,630

Dividends of surplus––(14,031)–(14,031)

Profit attributable to ownersof parent––

19,226–

19,226

Net changes in items otherthan shareholders' equity

–

–

–

–

–

Changes during period

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
Non-controllinginterests

Valuation difference
on available-for-salesecurities

Foreign currencytranslation adjustment

Total accumulated
other comprehensive
income

4

7,030

7,035

1,143

271,809

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

278,943

Balance at beginning of period

Total net assets

Changes during period8

Fiscal year ended February 28, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Total shareholders'equityTreasury shares

19,972

24,043

224,811(2)

268,825

Dividends of surplus––(14,031)–(14,031)

Profit attributable to ownersof parent––

17,382–

17,382

Purchase of treasury shares

–

–

–

(0)

(0)

Net changes in items otherthan shareholders' equity

–

–

–

–

–

Total changes during period

–

–

3,350

(0)

3,350

19,972

24,043

228,162(2)

272,176

Changes during period

Balance at end of period

Accumulated other comprehensive income
Non-controllinginterests

Valuation difference
on available-for-salesecurities

Foreign currencytranslation adjustment

Total accumulated
other comprehensive
income

2,229

6,569

8,799

1,318

278,943

Dividends of surplus

–

–

–

–

(14,031)

Profit attributable to ownersof parent

–

–

–

–

17,382

Purchase of treasury shares

–

–

–

–

(0)

Net changes in items otherthan shareholders' equity

(238)

2,561

2,323

264

2,587

Total changes during period

(238)

2,561

2,323

264

5,938

Balance at end of period

1,991

9,131

11,122

1,582

284,881

Balance at beginning of period

Total net assets

Changes during period

9Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

29,11525,840Depreciation
Increase (decrease) in provision for bonuses

5,406
10

5,671
(15)

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

(0)
(755)

102
(179)

6
–

20
273

(281)
(9,221)(15)(74)

Loss on valuation of shares of subsidiaries and associates
Loss (gain) on sale and retirement of non-current assets

–
204

1,954
(613)

Impairment losses
Decrease (increase) in trade receivables

628
239

1,194
587

Decrease (increase) in inventories
Increase (decrease) in trade payables

4,253(1,177)

4,746(1,455)Interest expenses
Loss (gain) on valuation of securities
Foreign exchange losses (gains)
Loss (gain) on sale of investment securities

Other, net

2,919

(405)

Subtotal

31,347

37,633

Interest and dividends received

397

528

Interest paid
Income taxes paid

(5)(8,251)(18)(12,985)

Net cash provided by (used in) operating activities

23,48725,157

Cash flows from investing activities
Purchase of property, plant and equipment(5,367)(8,383)

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

12(1,237)1,950(1,595)Purchase of short-term and long-term investment securities
Proceeds from sale of short-term and long-term investment(93,586)(1,017)

88,944

2,358

(96)

(176)

(100)
269

(200)
189

(1,478)1,473(1,445)
997

(155)
5

(161)
27

(11,316)(7,458)securities
Payments for store removal
Loan advances
Proceeds from collection of loans receivable
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

(984)

108

Dividends paid
Other payments(14,032)(0)(14,026)(0)

Net cash provided by (used in) financing activities(15,016)(13,918)

Effect of exchange rate change on cash and cash equivalents

126

1,535

Net increase (decrease) in cash and cash equivalents(2,719)5,316

Cash and cash equivalents at beginning of period

149,173

146,454

Cash and cash equivalents at end of period

146,454

151,77010