Summary Report of Consolidated Financial Results
For the Fiscal Year Ended June 30, 2024

(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:
Address:
Representative:
Contact:

Tokyo Stock Exchange
Dogenzaka-dori 8F 2-25-12 Dogenzaka, Shibuya-ku, Tokyo
Naoki Yoshida, President and CEO, Representative Director
Yuji Ishii, Director, Managing Executive Officer and CAO

URL:

Tel: +81-3-6416-0418
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, 2024 (From July 1, 2023 to June 30, 2024)(1) Results of Business Operations(Millions of yen, except per-share data)
ProfitChangeOperating
ChangeOrdinary
ChangeAttributable
ChangeNet Sales(%)
to Owners of(%)
Income(%)
Income(%)
ParentFiscal Year Ended
2,095,077
8.2
140,19333.2
148,70934.0
88,701
34.1
June 30, 2024
Fiscal Year Ended
1,936,783
5.8
105,25918.7
110,994
10.5
66,167
6.8
June 30, 2023
[Note] Comprehensive income: 94,298 million yen [31.4％] (FY 2024.6), 71,775 million yen [12.0%] (FY 2023.6)
Net Income
Per Share(Yen)

Net Income Per Share-fully diluted (Yen)

Return on
Equity (%)

Ordinary
Income on Total
Asset (%)

Operating
Income on Net
Sales (%)

Fiscal year ended
148.64148.09
17.9
10.0
6.7
June 30, 2024
Fiscal year ended
110.94110.6715.7
7.7
5.4
June 30, 2023
[Reference] Equity in earnings/losses of affiliates: 666 million yen (FY2024, 6), 679 million yen (FY 2023, 6)(2) Financial Position
Ratio of Shareholder’s Equity Net Assets per ShareTotal Assets
Net assets
As of
to Total Assets (%)(Yen)
898.72June 30, 2024
1,498,410
547,00335.8
June 30, 2023
1,481,058
463,53930.6
759.75[Reference] Equity: 536,494 million yen (as of June 30, 2024), 453,261 million yen (as of June 30, 2023)(3)The Consolidated Statements of Cash Flows
Cash Flows From Operating
Activities
Fiscal Year Ended
150,554
June 30, 2024
Fiscal Year Ended
137,955
June 30, 2023

Cash Flows From Investing
Activities

Cash Flow From Financing
Activities

Cash and Cash
Equivalents(94,733)(129,945)

187,199(61,997)(18,217)

246,195

2. Dividends
Dividend per share (yen)Fiscal Year Ended
June 30, 2023
Fiscal Year Ended
June 30, 2024
Fiscal Year Ending
June 30, 2025 (Forecast)

Dividends intotal (Million
yen)

Dividend
Payout Ratio(consolidated
basis %)

Dividend on net
assets(consolidated
basis %)Six Months Ended
December 31

Year Ended
June 30

Total

4.00

16.00

20.00

11,931

18.0

2.8

5.00

25.00

30.00

17,908

20.2

3.6

9.00

25.00

34.00

[Note] Breakdown of year-ended dividend: 16 yen common, 9 yen commemorative

1-

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

3. Consolidated Business Forecast：For the year ending June 30, 2025 (From July 1, 2024 to June 30, 2025)(Millions of yen, except per-share data)
Net Sales

Change(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

Change(%)

Net Income
perShare(Yen)Six Months Ending
December 31, 2024

ProfitAttributableto Owners of
Parent1,120,400

6.9

81,100

7.4

67,200(8.7)

43,200(10.4)

72.37

Year Ending June 30,
2025

2,220,000

6.0

150,000

7.0

135,400(8.9)

86,500(2.5)

144.904. Others(1)

Significant changes in the scope of consolidation: None
Newly consolidated: － , Excluded: －

(2)

(3)

Changes in accounting policies concerning preparation of consolidated financial statements①

Changes in line with revision to accounting standards: None②

Other changes: None③

Changes in accounting estimates: None④

Restatement: None

Number of outstanding shares (Common shares)
Number of outstanding shares

June 30, 2024

635,028,540 shares(Treasury shares included)

June 30, 2023

634,666,240 shares

Number of treasury shares
Average number of outstanding
shares during the period

June 30, 2024

38,073,252 shares

June 30, 2023

38,073,224 shares

June 30, 2024

596,760,042 shares

June 30, 2023

596,450,914 shares*This financial summary is not subject to audit conducted by certified public accountants or an audit corporation.
** The financial forecasts of business results are based on judgments and estimates that have been made using currently available information. By nature, suchfinancial forecasts are subject to uncertainties and risks. Therefore, actual results might be significantly different from the aforementioned forecasts for a varietyof 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 August 16, 2024. Presentation materials for thebriefing will be available on the Company’s website.

2

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Balance Sheets(Millions of yen)
As of June 30, 2023

As of June 30, 2024

AssetsCurrent assets
Cash and deposits¥242,088¥172,719

Notes and accounts receivable - trade

13,782

17,068

Accounts receivable - installment

55,35057,333Operating loans

9,047

9,613

194,537

198,979

Prepaid expenses

8,629

8,695

Deposits paid

5,357

15,800Other

25,54136,452

Allowance for doubtful accounts(2,496)551,836(3,227)

513,432

490,423

540,773

Accumulated impairment(177,171)(201,256)

Buildings and structures, net

287,975(30,843)
308,674

Tools, furniture and fixtures

118,405

135,202

Accumulated depreciation(78,928)(90,524)

35,027(6,707)37,971

2,868

3,163

(1,475)(1,629)

1,393

1,534

Land

318,721356,663

Construction in progress

15,532

4,197

Right-of-use assets

37,30640,985

Accumulated impairment(4,919)(7,397)Right-of-use assets, net

30,561(7,166)
26,423

689,209735,463

Goodwill

61,00262,574Other

27,52832,074

Total intangible assets

88,53094,647

Investment securities

34,64335,688Long-term prepaid expenses

4,370

4,647

Merchandise and finished goods

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation(25,278)

Accumulated impairment(4,451)Tools, furniture and fixtures, net
Other
Accumulated depreciation
Accumulated impairment(0)

Other, net

Accumulated depreciation(1,825)

Total property, plant and equipment(0)

Intangible assets

Investments and other assets

3

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Balance Sheets(Millions of yen)
As of June 30, 2023

As of June 30, 2024

Retirement benefit asset¥17,806¥18,372

Deferred tax assets

20,68625,609Leasehold and guarantee deposits

71,84568,737

Other

3,476

3,171

(1,342)

151,484(1,357)

154,867

929,222984,978¥1,481,058¥1,498,410

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Balance Sheet(Millions of yen)
As of June 30, 2023

As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade¥168,661¥197,151

Current portion of long-term borrowings

34,364

48,615Current portion of bonds payable

10,930650

Accounts payable - other49,47560,874

Lease liabilities

2,263

2,809

Accrued expenses

26,991

31,300

Deposits received

14,012

13,971

Income taxes payable

23,16925,547

Provision for point card certificates

1,962

1,379

Contract liabilities

20,83818,966

Other

15,756

17,958

Total current liabilities

368,422419,220

Bonds payable

261,625

191,075

Long-term borrowings

272,499

224,657

Lease liabilities

31,03632,897

Asset retirement obligations

30,83531,395

Other53,101

52,163

Total non-current liabilities

649,097

532,187

1,017,519

951,407

23,351

23,538Non-current liabilities

Total liabilities

Net Assets
Shareholders' equity
Share capital
Capital surplus

17,50917,659Retained earnings

483,366

559,538

Treasury shares(80,956)443,270(80,956)

Valuation difference on available-for-sale securities

1,690

2,126

Foreign currency translation adjustment

7,797

13,857

Total shareholders' equity
Accumulated other comprehensive income

Remeasurements of defined benefit plans

519,778

503

733

9,991

16,716

Share acquisition rights

771

1,442

Non-controlling interests

9,507

9,066

463,539547,003¥1,481,058¥1,498,410

Total accumulated other comprehensive income

Total net assets
Total liabilities and net assets

5

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Income(Millions of yen)
Fiscal year ended

Fiscal year ended

June 30, 2023

June 30, 2024

Net sales¥1,936,783¥2,095,077

Cost of sales

1,336,393

1,432,179

Gross profit

600,390662,898

Selling, general and administrative expenses

495,131522,705

Operating profit

105,259

140,193

893

1,063

679

666

6,420

10,278Non-operating income
Interest and dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Penalty income

348

1,068

Other

5,921

4,039

Total non-operating income

14,261

17,114

7,703

6,986

823

1,612

8,526

8,598

110,994

148,709

Non-operating expenses
Interest expenses paid on loans and bonds
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets

19

15

Compensation income-

550

Gain on reversal of asset retirement obligations

7

228

Other

29

94

Total extraordinary income

54

887

Impairment losses

5,983

14,165

Loss on retirement of non-current assets

1,565

1,834

Loss on store closings

2,392

2,240

Loss on disaster

71

654

Loss on litigation

226

-

Other

72

196

10,30919,089100,739

130,506

Extraordinary losses

Total extraordinary losses
Profit before income taxes
Income taxes - current

37,36747,395

Income taxes - deferred(2,399)(4,085)

Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

34,96743,30965,77287,197(396)(1,504)¥66,1676¥88,701PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Comprehensive Income(Millions of yen)

ProfitFiscal year ended

Fiscal year ended

June 30, 2023

June 30, 2024
¥65,772¥87,197

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

1,628

236

Foreign currency translation adjustment

4,359

6,580

42

221

(26)

65

6,003

7,101

¥71,775¥94,298¥71,619¥95,427

156(1,128)Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests

7

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Changes in Net Assets(Fiscal year ended June 30, 2023)(Millions of yen)
Shareholders' equity
Share capital

Balance at beginning of period

Capital surplus¥23,217¥17,376

134

134

Treasury shares¥428,044¥(80,956)

Changes during period
Issuance of new shares

Total shareholders'

Retained earnings

equity¥387,681
267

Dividends of surplus
Profit attributable to ownersof parent(10,734)
66,167(10,734)

(112)

(112)

Change in scope of
consolidation
Net changes in items other

66,167than shareholders' equity
Total changes during period
Balance at end of period

134

134

55,322－55,589¥23,351¥17,509¥483,366¥(80,956)¥443,270

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities
Balance at beginning of period¥520

Foreign

Remeasurem

currency-ents oftranslation

definedadjustment

benefit plans¥3,532¥487

Total
accumulated
othercomprehensi

Share

Non-

acquisition

controllingrightsinterests

Total net assets

ve income¥4,539¥271¥6,755¥399,247

Changes during period
Issuance of new shares

267

Dividends of surplus(10,734)

Profit attributable to owners of

66,167parentChange in scope of
consolidation
Net changes in items other

(112)

1,170

4,265

16

5,452

500

2,752

8,703

Total changes during period

1,170

4,265

16

5,452

500

2,752

64,292

Balance at end of period¥1,690¥7,797¥503¥9,991¥771¥9,507¥463,539

than shareholders' equity

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PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Changes in Net Assets(Fiscal year ended June 30, 2024)(Millions of yen)
Shareholders' equity
Share capital

Balance at beginning of
periodCapital surplus

Retained earnings¥23,351¥17,509

186

186

Total shareholders'

Treasury shares¥483,366

equity¥(80,956)

443,270

Changes during period
Issuance of new shares

373

Dividends of surplus(12,529)(12,529)

88,701

88,701

Profit attributable toowners of parent
Purchase of treasury(0)

sharesChange in scope of

(0)

(37)

consolidation(37)

Net changes in items
other than shareholders'equityTotal changes during

186

149

76,172¥23,538¥17,659¥559,538

periodBalance at end of period

76,508(0)519,778¥(80,956)

Accumulated other comprehensive income
Valuation

Balance at beginning of
periodForeign

Remeasurem-

difference on

currency

ents ofavailable-for-translation

definedsale securities

adjustment

benefit plans¥1,690¥7,797

Total
accumulated
other

¥503

comprehensiv

Share

Non-

acquisition

controllingrightsinterests

Total net assets

e income¥9,991¥771¥9,507¥463,539

Changes during period
Issuance of new shares

373

Dividends of surplus(12,529)

Profit attributable to88,701owners of parent
Purchase of treasury(0)

sharesChange in scope of(37)

consolidation
Net changes in items
other than shareholders'

436

6,060

230

6,725

671

(441)

6,956

436

6,060

230

6,725

671

(441)

83,464¥2,126¥13,857¥733¥16,716¥1,442¥9,066¥547,003

equityTotal changes during
periodBalance at end of period

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PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Cash Flow

(Millions of yen)
Fiscal year ended

Fiscal year ended

June 30, 2023

June 30, 2024

Cash Flows From Operating Activities
Profit before income taxes¥100,739¥130,506

Depreciation and amortization

42,261

46,231

Impairment losses

5,983

14,165

Increase (decrease) in allowance for doubtful accounts

(136)

716

Interest and dividend income
Interest expenses on borrowings and bonds(893)(1,063)

(679)

(666)

7,703

Foreign exchange gains(6,420)Share of profit of entities accounted for using equity
method6,986(9,763)

Loss on sale and retirement of non-current assets

1,555

1,823

Loss on store closing

2,392

2,240

2,229

2,111

(912)

(3,012)(2,164)

Offset payments for house rental fee with lease andguarantee deposits
Increase in trade receivables
Decrease (increase) in inventories

13,154

Increase in trade payables

14,345

Increase in accounts receivable - installment(3,345)

Increase in retirement benefit asset(287)

Increase (decrease) in accounts payable - other(1,915)

Increase (decrease) in deposits received

507

Increase in other current liabilities
Increase (decrease) in other non-current liabilities
Other, net
Subtotal

Income taxes paid
Income taxes refund
Dividends received from entities accounted for using equity
methodPayments associated with disaster loss
Net cash provided by operating activities

8,722

(69)

(244)

78

(4,635)(20,566)(7,737)(7,296)

202,878

800(31,940)585(48,659)

170

178

(99)

(630)

¥137,955

10

(275)

2,394

768

Interest paid

26,106

4,804

176,208

Interest and dividends received(1,623)3,284¥150,554

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Consolidated Statements of Cash Flow

(Millions of yen)
Fiscal year ended

Fiscal year ended

June 30, 2023

June 30, 2024

Cash Flows From Investing Activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment¥(51,678)¥(86,221)(1,782)(1,199)958

Purchase of intangible assets(7,884)

Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits

2,122

Payment for store opening in progress(611)

Purchase of shares of subsidiaries and associates(3,386)

Other, net

264

Net cash used in investing activities

Cash Flows From Financing Activities
Proceeds from long-term borrowings
Proceeds from issuance of bonds
Dividends paid
shareholders
Purchase of shares of subsidiaries not resulting in change in
Other, net

5,000

407

9,784

Net increase (decrease) in cash and cash equivalents

67,525

Cash and cash equivalents at beginning of period

180,418

Decrease in cash and cash equivalents resulting from exclusionof subsidiaries from consolidation
Increase in cash and cash equivalents resulting from merger
with unconsolidated subsidiaries
Cash and cash equivalents at end of period

11

69,789(150,930)(18,217)

Effect of exchange rate change on cash and cash equivalents

50,000(11,421)(1,652)

Net cash used in financing activities(345)(84,820)(2,239)scope of consolidation(93)(27,171)(10,734)

Proceeds from share issuance to non-controlling(159)(94,733)-

Redemption of bonds

1,532(61,997)
30,000

Repayments of long-term borrowings

124(8,372)(12,529)(1,862)(129,945)
15,129(58,995)
246,195(1,852)-

104-¥246,195¥187,199

PPIH Cooperate (7532) Summary Report of Consolidated Financial Results For the Fiscal Year Ended June 30, 2024

Segment Information
Information concerning sales and income by reporting segment
For the Fiscal Ended June 30, 2023
(Millions of yen)

Reporting segment
Domestic

North America

Asia

Business

Business

Business

Total

Adjustment1

Consolidated2

Sales, Segment income
Sales
Sales to third parties¥1,620,851¥233,590¥82,343¥1,936,783¥－¥1,936,783

10,822－

133

10,955(10,955)－

Total

1,631,672

233,590

82,476

1,947,738(10,955)

1,936,783

Segment income

96,404

7,225

1,630

105,259－

105,259

Segment Assets

1,097,126

176,433

29,6801,303,239

177,819

1,481,058

Depreciation expenses

29,007

9,943

3,311

42,261－

42,261

Increase in property, plant and equipment,
and intangible assets¥47,053¥8,466¥4,744¥60,263¥－¥60,263Intersegment sales

Other3Adjustment of segment asset of 177,819 million yen includes 183,244 million yen in surplus operational funds (cash and deposits, and investment securities)

1and a (5, 425) million yen deduction for inter-segment receivables elimination.
Segment income matches the operating profit in the consolidated statement of income.

2

Increase in property, plant and equipment, and intangible assets includes the rise in long-term prepaid expenses.

3

Information concerning sales and income by reporting segment
For the Fiscal Ended June 30, 2024
(Millions of yen)

Reporting segment
Domestic

North America

Asia

Business

Business

Business

Total

Adjustment1

Consolidated2

Sales, Segment income
Sales
Sales to third parties¥1,763,062¥246,875¥85,140¥2,095,077¥－¥2,095,077

12,662－

129

12,791(12,791)－

Total

1,775,724

246,875

85,2692,107,868(12,791)

2,095,077

Segment income

136,606

3,442

146

140,193－

140,193

Segment Assets

1,162,700

200,996

28,8901,392,586

105,824

1,498,410

Depreciation expenses

31,707

10,777

3,747

46,231－

46,231

Increase in property, plant and equipment,
and intangible assets¥77,884¥13,538¥4,383¥95,804¥－¥95,804

Intersegment sales

Other3Adjustment of segment asset of 105,824 million yen includes 112,102 million yen in surplus operational funds (cash and deposits, and investment securities)

1and a (6,278) million yen deduction for inter-segment receivables elimination.
Segment income matches the operating profit in the consolidated statements of income.

2
3

Increase in property, plant and equipment, and intangible assets includes the rise in long-term prepaid expenses

12