Summary Report of Consolidated Financial Results
For the First Quarter Ended September 30, 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, Representative Director
Contact:
Yuji Ishii, Director, Managing Executive Officer and CAO (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 2024 (From July 1, 2023 to September30, 2023)(1) Results of Business Operations(Millions of yen, except per-share data)
ProfitAttributableNet
Change Operating
ChangeOrdinary
ChangeChange(%)Sales(%)
Income(%)
Income(%)
to Owners ofParent
Three Months Ended
509,329
7.5
32,88637.8
36,062
25.7
24,60933.4
September 30, 2023
Three Months Ended
473,694
6.3
23,87048.4
28,68574.2
18,44948.8
September 30, 2022
(Note) Comprehensive income: 30,143 million yen [22.0%] (FY 2024.6 1Q), 24,702 million yen [105.1%] (FY 2023.6 1Q)
Net Income Per Share(Yen)Net Income Per Share-fully
diluted (Yen)

41.25

41.13

30.94

30.86

Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
(2) Financial Position

Total Assets

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

Net assets

As of September 30,
1,491,602
484,42131.8
2023
June 30, 2023
1,481,058
463,53930.6(Reference) Equity: 473,665 million yen (as of September 30, 2023), 453,261 million yen (as of June 30, 2023)
2. Dividends
Three Months Endof September 30
Year Ended June 30,2023
Year Ending June 30,2024
Year Ending June 30,2024 (Forecast)

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

Year Endof June 30

Total

4.00

－

16.00

20.00

5.00

－

16.00

21.00

－

(Note) Revision to the dividend forecast in the first quarter of fiscal 2024: None

3. Consolidated Business Forecast：For the year ending June 30, 2024 (From July 1, 2023 to June 30, 2024)(Millions of yen, except per-share data)
Net Sales

Change(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

Six Months Ending
1,031,800
5.5
58,9002.556,000(2.1)
December 31, 2023
Year Ending
2,062,100
6.5
111,000
5.5
107,400(3.2)
June 30, 2024
(Note) Revision to the business forecast in the first quarter of fiscal 2024: None

1

ProfitAttributableto Owners ofParentChange(%)

Net
Income perShare(Yen)

35,000(4.8)

58.67

66,7000.8

111.804. Others(1) Significant changes in the scope of consolidation: None
Newly consolidated: － , Excluded: －(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) September 30, 2023
June 30, 2023
② Number of treasury shares
September 30, 2023
June 30, 2023
③ Average number of outstanding shares during the period
September 30, 2023
September 30, 2022

634,734,240 shares
634,666,240 shares
38,073,224 shares
38,073,224 shares
596,625,538 shares
596,333,503 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 November
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 September 30,2023

2023

AmountAmountAssetsCurrent assets
Cash and deposits¥242,088¥240,752

Notes and accounts receivables-trade

13,782

15,657

Accounts receivables - installment

55,35053,514

Operating loans

9,047

9,208

Merchandise and finished goods

194,537

189,831

Prepaid expenses

8,629

8,911

Deposits paid

5,357

8,397

Other

25,54130,290Allowance for doubtful accounts(2,496)(2,694)

Total current assets

551,836

553,867

Buildings and structures, net

287,975

287,131

Tools, furniture and fixtures, net

35,02735,616

Non-current assets
Property, plant and equipment

Land318,721319,867

Construction in progress

15,532

20,705Right of use assets, net

30,561

31,903

Other, net

1,393

1,447

689,209696,669

61,002

62,345

Other27,52828,500Total intangible assets

88,53090,84534,643

34,615

Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets
Investment securities
Long-term prepaid expenses

4,370

4,381

Retirement benefit asset

17,806

17,824

Deferred tax assets

20,686

19,552

Lease and guarantee deposits

71,84571,584

Other

3,476

3,669

Allowance for doubtful accounts(1,342)(1,405)

Total investments and other assets

151,484

150,221929,222937,735¥1,481,058¥1,491,602

Total non-current assets

Total assets3

(Millions of yen)
As of June 30,

As of September 30,

2023

2023

AmountAmountLiabilities
Current liabilities
Notes and accounts payables - trade¥168,661¥189,776

Current portion of long-term loan payables

34,36422,548Current portion of bonds

10,930150,750

Accounts payables – other49,47544,266

Lease obligations

2,263

2,475

Accrued expenses

26,991

24,383

Deposits received

14,012

20,577

Income taxes payables

23,169

9,579

Provision for point card certificates

1,962

2,299

Contract liabilities

20,838

17,952

Other

15,756

17,202

Total current liabilities

368,422501,807

Bond payables

261,625

121,300

Long-term loan payables

272,499

268,171

Lease obligations

31,03632,336

Asset retirement obligations

30,83531,029Other

53,10152,538

Total non-current liabilities

649,097505,375

1,017,519

1,007,181

Share capital

23,351

23,383

Capital surplus

17,50917,541Retained earnings

483,366

498,429

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

Total shareholders' equity

443,270

458,396

Non-current liabilities

Total liabilities

Net assets
Shareholders' equity

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

1,690

1,727

Foreign currency translation adjustment

7,797

13,073Remeasurements of defined benefit plans

503

469

9,991

15,269

Share acquisition rights

771

1,004

Non-controlling interests

9,507

9,751

463,539

484,421¥1,481,058¥1,491,602

Total accumulated other comprehensive income

Total net assets
Total liabilities and net assets

4Consolidated Quarterly Statements of Income

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

Three months ended
September 30, 2022
Amount(Millions of yen)Three months ended
September 30, 2023
Amount¥473,694¥509,329

329,417351,106

144,277

158,223

120,407125,337

23,87032,886

340473

Non-operating income
Interest and dividend income
Share of profit of affiliates accounted for using equity
methodForeign exchange gains
Other
Total non-operating income

150

243

5,594
857
6,940

3,054
1,862
5,632

Non-operating expenses
Interest expenses paid on loans and bonds
Other
Total non-operating expenses
Ordinary profit

1,952
173
2,125
28,685

1,993
463
2,456
36,062

4
3
3
10

2－
0
3

196－
21
1218
28,477

192
102
3
5302
35,763

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

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

9,756
1,210
10,966
24,797
189

Profit attributable to owners of parent¥18,449¥24,609

Extraordinary income
Gain on sales of non-current assets
Reversal 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, 2022

(Millions of yen)Three months ended
September 30, 2023

AmountAmount¥18,973¥24,797

Valuation difference on available-for-sale securities

(120)

(239)

Foreign currency translation adjustment

5,862

5,592

(10)

(22)

(4)

15

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

5,728

5,345

¥24,702¥30,143¥24,125¥29,887577

256

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

6Consolidated Quarterly Statements of Cash Flows
Three months ended
September 30, 2022
Amount(Millions of yen)Three months ended
September 30, 2023
AmountCash flows from operating activities:
Profit before income taxes
Depreciation
Increase (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 in inventories
Increase in notes and accounts payables – trade
Decrease (increase) in accounts receivables – installment
Decrease in accounts payables – otherOther, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Payments for loss on disasterNet cash provided by operating activities¥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¥35,763
10,83752(473)
1,993(3,054)(243)
189(1,791)
6,180
19,8931,793(310)(7,601)
63,228407(1,579)(21,035)(5)
41,016

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(18,921)(2,367)(3,386)(369)
40(258)(16)¥ (25,276)(15,094)(1,804)
－(77)
212
(428)
3
¥ (17,188)7

Cash flows from financing activities:
Net increase in short-term loan payables
Repayments of long-term loan payables
Redemption of bonds
Cash dividends paid
Proceeds from issuance of common shares
Purchase of shares of subsidiaries not resulting in change in scope ofconsolidation
Other, netNet 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 exclusion of subsidiaries in consolidation
Cash and cash equivalents at the end of period

8Three months ended
September 30, 2022
Amount(Millions of yen)Three months ended
September 30, 2023
Amount¥976(11,484)(776)(8,348)67¥－(16,604)(505)(9,545)63(2,239)－(463)(22,268)
9,547(18,320)
180,418(787)(27,378)
5,274
1,724
246,195(1,852)－¥160,246¥247,919

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

North America
businessAsiabusiness

Total

Adjustment

Consolidated

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

2,429－

18

2,447(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

Note: Segment income is adjusted to the quarterly consolidated operating income.
For the First Quarter Ended September 30, 2023
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment
Domestic
Business

North America
businessAsiabusiness

Total

Adjustment

Consolidated

Sales, Segment income
Sales¥431,511¥58,230¥19,587¥509,329¥－¥509,329

2,750－

30

2,780(2,780)－Total

434,261

58,23019,617512,109(2,780)509,329

Segment income¥31,657¥1,157¥72¥32,886¥－¥32,886

Sales to third parties
Intersegment sales

Note: Segment income is adjusted to the quarterly consolidated operating income.

9