FACTBOOK
ABC-MART, INC.
For the fiscal year ended February 28, 2014

Contents
Corporate Profile

1-4

Consolidated Balance Sheet

5-6

Consolidated Statement of Income

7-8

Consolidated Statement of Cash Flows

9-10

Consolidated Statement of Changes in Equity

11

Information by Segment and Category

12

Consolidated Profitability Indicators

13

Consolidated Efficiency Indicators

14

Consolidated Stability Indicators

15

Stock Information

16

Securities Code: 2670 /TSE 1st SectionCorporate Profile
Corporate Profile (as of February 28, 2014)
Name of Company

ABC-MART, INC.

URL

http://www.abc-mart.com/

Headquarters

19F, Shibuya Mark City West1-12-1 Dogenzaka, Shibuya-ku, Tokyo 150-0043 JAPAN(Registered address: 1-11-5 Jinnan, Shibuya-ku, Tokyo 150-0041 JAPAN)

Date of Establishment

June 6, 1985

Capital\3,482 million

Representative

Minoru Noguchi
Representative Director, President and Executive Officer

Number of Employees

5,422 (8 Temporary employees and 2,554 Part-time employees included)

Business Policy
From a lifestyle creation company
focused on shoes,
into the ABC-MART global shoe store

New ABC-MART outlets will be opened todirectly deliver shoes to our customers.
Our ultimate aim is to establish a globally
recognized store brand.

Business Content

Overseas

Domestic
Order

DANNER

Importing, Stocking

Retailcustomers

Factory
RetailWholesale
Directdelivery

LaCrosse GROUP
Dealers

Overseas agents

Local
retailers

Delivery
Wholesale
Order

Wholesale

ABC-MART KOREA, INC.

Consignment

Importing, Stocking

Consignment

ABC SHOE FACTORY

Importing,Stocking

Maker

Consignment

ABC-MART, INC.

ABC-MART TAIWAN, INC.
Importing, Stocking

Overseas consignment factories (China, Myanmar, Bangladesh, Italy, etc.)1

Overseas retail
outlets

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Corporate Profile
History
1985


1986

Kokusai Boeki Shoji Inc., an import-and-sale trading
company, is established



1987


1990

Company name changed to International Trading
Corporation (ITC)



1991


ITC concludes an agency contract with Vans, Inc. forexclusive sales rights of Vans brand products in Japan

ITC acquires the Hawkins trademark

Hawkins Air Light and Hawkins Traveller businesses, opens
new markets for business-use shoes and walking shoesSG shoes Co., Ltd. (a franchisee of ABC-MART in WesternJapan) is reorganized as a wholly owned subsidiary of ABCMART



ABC-MART, INC. absorbs two of the subsidiary companies
ABC-MART, INC. inherits business of World Sports Plazaand starts sports apparel businessThe first ABC-MART store in Taiwan is opened

Full-fledged entry into ladies’ footwear

First ladies shop Nuovo Shibuya is opened

2011


2012


ITC absorbs ABC-MART Co., Ltd and changes its
name to ABC-MART, INC.
Subsidiary company ABC-MART KOREA, INC. wasestablished in South Korea
ABC-MART, INC. was listed on first section of theTokyo Stock Exchange

2006

2009


First shopping center store

Initial public offering on the JASDAQ market
Hawkins Sport leather sneaker are developed
ABC-MART, INC. opens its first store inside a
shopping center

2002

2004



Shifts to a sales organization focusedon footwear

Celebrities Takuya Kimura and Nene Otsuka arechosen to advertise Hawkins Air Cushion shoes

2000

2001


ITC acquires the rights to use the Vans trademark
in Japan to develop trademark products

1996

1998


Retail operations added to wholesaling

ABC-MART Ltd. is established as a retail chain, thefirst ABC-MART store opens (reorganized as a joint
stock company in 1997)

1994

1995


Concludes an agency contract with G.T. Hawkins
Limited for exclusive sales rights in Japan

ABC-MART, INC. acquires LaCrosse through a cash tender
offer and subsequent short-form merger as a wholly
owned subsidiary of ABC-MART

ABC-MART KOREA, INC. is reorganized as a wholly
owned subsidiary of ABC-MART2013
 First domestic "ABC SHOE FACTORY" wasestablished

Trend of Business Performance（¥ million）(¥ million)

Consolidated Net Sales (LHS)
Operating Income (RHS)

210,000

188,045

180,000

60,000159,418

150,000

70,00050,000140,761

127,367
120,000
88,69290,00060,00030,00040,000113,507

32,6349,755

0
FY2/02

38,941

46,35754,186

8,043

9,012

10,363

FY2/03

FY2/04

FY2/05

66,144

14,47897,341

77,76816,331

18,252

20,22324,186

26,85727,22130,37534,12630,00020,00010,0000

FY2/06

FY2/07

FY2/08

FY2/09FY2/10FY2/11

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

FY2/12

FY2/13

FY2/142

Corporate Profile
The Strength of ABC-MART
ABC-MART is leveraging a growing product line and store network, as well as its import and sales expertise toexpand share of the retail shoe market. The Company aims to establish itself as Japan’s No.1 chain of dedicatedshoe stores in both quality and quantity.

The accumulation of on-site excellenceStore Strategy

Product and Brand Strategy

 Speedy store openings conforming
to communities and trade areas
 Development of stores with a wide rangeof formats and business types
 Store renewal that responds smartly
to market changes

 Maintenance, strengthening and development ofhouse brands
 Development information from our overseas network Partnership with global brands

Operation Strategy

Human Resource Development

 Boosting sales capability using POS system
 Taking the next step with high-level systems
 Efficiency of logistic system Field-oriented
 Strong sales capabilities
 Strong leadership and teamwork

Product Planning and Development
Integrated Production andSales System for House Brands

Partnering with Global Brands

Collection of raw
customer feedback

Dealing directly with makers(bulk ordering)

Production at cooperating factories in Italy, China,
South East Asia, etc.

Enables low product prices

Information on trends fromour overseas network

Promotesdevelopment of
the ABC-MART
original models

Enables production of appealing products at reasonable prices

Major Brands
Private Brands

3

In-house Brands

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Corporate Profile
Distribution map of stores (as of February 28, 2014)*： Number of overseas outlets (Korea, Taiwan, U.S.A.) as of end-December 2013

Number of storesby store formats

Tohoku area

Hokkaido area

43 stores

31 stores

Outlets Roadside53
storesRoadside86
87
Commercial

Kansai area

116 stores

Kanto area

315 stores

Total 749
(Domestic)

Korea*

147 stores

buildings
100

FY2/14NSC
73

Shopping
centers
350

Chubu area

105 stores

Chugoku,
Shikoku area

Kyushu,Okinawa area

52 stores

87 stores
Taiwan*U.S.A.* (Portland, OR)

28 stores

3 stores

ABC-MART Store Network Expansion (as of February 28, 2014)(stores)
1,000

Number of overseas outlets*

927

Number of domestic outlets

855
780

800
680
574

600

497
412

400

343

200
57
0

57
FY2/02

113

166
21

113

145

FY2/03

FY2/04

233
19

275
30

214

245

FY2/05

FY2/06

FY2/07

106

67

53

34
309

FY2/08

178

130

43

369

152

444

FY2/09507

FY2/10574

FY2/11

650

FY2/12703

FY2/13749

FY2/14*： Number of overseas outlets (Korea, Taiwan, U.S.A.) as of end-December 2013
Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

4

Consolidated Balance Sheet(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

AssetsTotal assets

99,400,512

111,087,052

120,203,941

174,159,421

196,881,032

Current assets

48,131,921

67,041,130

72,704,028

113,067,021

129,542,628

Cash and deposits

24,604,206

38,755,377

42,167,745

68,852,158

78,884,221

Notes and accounts receivable - trade

1,971,321

2,370,937

2,563,312

5,064,083

6,463,290

Merchandise and finished goods

17,959,884

22,664,712

23,243,775

32,682,063

38,962,423

Work in process

-

-

-

44,833

13,583

Raw materials and supplies--

25,747

485,939

479,689

Currency options--

1,200,314

1,314,421-

938,148

829,175

1,004,547

1,166,442

1,414,815

2,659,312

2,425,816

2,504,923

3,480,723

3,355,309(951)(4,890)(6,337)(23,645)(30,704)

Non-current assets

51,268,591

44,045,922

47,499,913

61,092,399

67,338,404

Property, plant and equipment

28,771,859

26,702,214

29,226,500

31,588,359

32,784,917

Buildings and structures

13,719,140

15,119,964

17,984,882

20,886,196

22,758,728

Accumulated depreciation(5,689,719)(6,618,314)(7,924,210)(9,553,405)(10,980,400)

Buildings and structures, net

Deferred tax assets
Other
Allowance for doubtful accounts

8,029,420

8,501,650

10,060,671

11,332,790

11,778,327

Vehicles and vessels

439,218445,208---

Accumulated depreciation(313,213)(352,277)---

Vehicles and vessels, net

126,004

92,931---Tools, furniture and fixtures-

2,511,735

3,139,826

6,266,116

8,012,820

Accumulated depreciation-(1,260,865)(1,646,696)(3,604,799)(4,923,220)

Tools, furniture and fixtures, net-

1,250,869

1,493,130

2,661,316

3,089,600

19,443,979

16,827,283

17,176,451

17,483,893

17,696,636

Land
Construction in progress

995

23,148427,108

60,07190,8712,141,449

8,138

457,156

468,848593,253

Accumulated depreciation(969,991)(1,808)(388,017)(418,561)(463,772)

Other, net

1,171,458

6,330

69,13850,286

129,480

Intangible assets

801,516

1,519,463

2,012,373

10,793,412

11,649,099

Trademark right--

11,2642,465,569

2,682,855

Goodwill-

442,774

964,553

6,821,704

7,195,840

801,516

1,076,689

1,036,555

1,506,138

1,770,403

21,695,214

15,824,244

16,261,039

18,710,627

22,904,387
125,485

Other

Other
Investments and other assets
Investment securities

138,324

97,544

94,891

109,651

Shares of subsidiaries and associates

7,409,422

84,17584,17584,175

94,075

Lease and guarantee deposits

12,964,586

14,396,825

14,331,988

16,494,299

18,960,429

Other

1,182,882

1,245,700

1,759,984

2,022,501

3,725,535--(10,000)-(1,138)

Allowance for doubtful accounts

5

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Consolidated Balance Sheet(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

Liabilities
Total liabilities

32,311,513

27,658,857

27,967,792

64,394,736

64,961,847

Current liabilities

26,869,376

25,958,964

23,682,176

25,960,880

27,362,478

Notes and accounts payable - trade

7,714,042

7,469,784

7,147,386

7,477,486

8,551,245

Short-term loans payable

8,311,548

4,622,515

2,509,305

4,135,826

3,278,312-

3,750,000

2,252,800

1,002,800

1,002,800

Income taxes payable

6,447,847

5,534,427

6,513,447

7,455,270

7,113,474

Provision for bonuses

469,903481,782

577,247

642,716654,690

Provision--

17,070178,038

234,480

Asset retirement obligations--

14,30817,861

26,927

Notes payable - facilities-

832,742

960,493936,279

778,252

Other

3,926,035

3,267,711

3,690,118

4,114,601

5,722,294

Non-current liabilities

5,442,137

1,699,893

4,285,616

38,433,856

37,599,368

Current portion of long-term loans payable

Convertible bond-type bonds with subscription rights to shares

-

-

-

33,000,000

33,000,000

5,000,000

1,261,200

3,505,600

2,502,800

1,500,000

Provision---

798,867

658,157

Asset retirement obligations--

133,454

218,207

243,579

Currency options--

257,731265,084-

442,137

438,693

388,830

1,648,895

2,197,632

Long-term loans payable

Other
Net assets
Total net assets

67,088,999

83,428,195

92,236,148

109,764,684

131,919,185

Shareholders' equity

65,798,940

81,311,254

93,373,591

107,282,926

123,281,397

Capital stock

3,482,930

3,482,930

3,482,930

3,482,930

3,482,930

Capital surplus

7,488,686

7,488,686

7,488,686

7,488,686

7,488,686

Retained earnings

77,146,432

70,340,159

82,402,496

96,311,831

112,310,302

Treasury shares(22,319,109)

(522)

(522)

(522)

(522)

(467,463)(898,119)(1,438,071)

2,191,141

8,265,062

Valuation difference on available-for-sale securities

17,435(4,182)(5,746)

13,432

23,248Deferred gains or losses on hedges(11,104)

-

-

-

-

Foreign currency translation adjustment(473,793)(893,937)(1,432,324)

2,177,708

8,241,814

Accumulated other comprehensive income

Minority interests
Total liabilities and net assets

1,757,522

3,015,060

300,628

290,616

372,724

99,400,512

111,087,052

120,203,941

174,159,421

196,881,032

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

6

Consolidated Statement of Income(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

113,507,052

127,367,153

140,761,016

159,418,140

188,045,018

Cost of sales

49,030,500

53,086,659

59,658,395

68,109,105

84,317,067

Gross profit

64,476,552

74,280,493

81,102,620

91,309,034

103,727,951

Selling, general and administrative expenses

40,290,394

47,422,994

53,881,392

60,933,917

69,601,927

Packing and transportation expenses

1,393,218

1,694,272

1,950,419

2,210,771

2,162,656

Advertising expenses

4,870,151

6,051,271

6,476,402

6,931,745

7,263,553

Warehousing expenses

806,125

1,127,482

1,257,626

1,293,183

2,044,219

11,446,358

13,373,272

14,948,840

16,431,626

18,737,865

Bonuses

840,756

884,508

1,047,361

1,083,784

1,139,234

Provision for bonuses

469,903481,782

578,027

640,700

647,109

Net sales

Directors' compensations, salaries and allowances

Legal and employee benefits expenses

1,314,460

1,564,124

1,879,820

2,113,560

2,418,684

Rents

10,465,979

11,944,395

13,644,869

15,326,723

17,738,673

Depreciation

1,928,744

2,189,606

2,648,130

3,250,878

3,885,923

Utilities expenses

1,189,631

1,410,031

1,457,090

1,793,573

2,050,493

Commission fee

1,641,041

1,900,791

2,298,221

2,677,576

3,461,581

Taxes and dues

495,031529,957

566,845668,623

873,247

157-

11,971

1,820

796
1,023,343

Provision of allowance for doubtful accounts
Amortization of goodwill-

49,197

264,003549,4413,428,834

4,222,301

4,851,762

5,959,908

6,154,542

24,186,158

26,857,499

27,221,227

30,375,117

34,126,024

1,793,970

848,252

1,736,602

977,302

1,189,214

18,303

21,30040,751

46,72979,574-

104,676---

Foreign exchange gains

360,387--

80,501

60,923

Share of profit of entities accounted for using equity method

692,270

-

-

-

-

-

-

942,582

106,753-

376,121398,074

419,285

481,790664,362

Other
Operating income
Non-operating income
Interest income
Dividend income

Gain on valuation of derivatives
Rent income
Advertising medium income

81,95068,36060,75757,45062,706

Other

264,937

255,840

273,225

204,076

321,647

Non-operating expenses

411,292995,275

558,200

605,146

501,160

Interest expenses

156,144

166,482

132,524

74,01253,899Foreign exchange losses-

126,509

86,052--

Share of loss of entities accounted for using equity method-

391,220---

198,419

189,469

203,523

271,275

347,882

Rent expenses
Other
Ordinary income

756,728

121,593

136,099

259,858

99,37725,568,836

26,710,475

28,399,630

30,747,273

34,814,079

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Consolidated Statement of Income(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14Extraordinary income

350,000

4,562,130

6,435

545

2,648

Gain on sales of non-current assets-

924,388

6,435

545

935

Gain on sales of investment securities-

150,847---

Gain on sales of shares of subsidiaries and associates-

3,475,693---

Income from insurance cancellation-

11,201--350,000

-

-

-

-

-

-

-

-

1,713

357,446

565,820

1,370,135

595,794

1,585,615-

82,552-343-

34,32659,528116,881

114,733

175,150

Loss on liquidation of business

-

-

-

65,595-

Loss on valuation of golf club membership-

12,35919,2207,075-

Loss on cancellation of derivatives

-

-

-

-

1,051,049

Income from contract penalty
Gain on cancellation of derivatives
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets

Impairment loss

323,120

411,379

549,577

408,046

263,840

Loss on abandonment of goods--

28,450-95,575

Loss on adjustment for changes of accounting standard
for asset retirement obligations--

549,530--

Loss on disaster--

53,518--

Donation--

52,957--

Income before income taxes and minority interests

25,561,389

30,706,786

27,035,930

30,152,024

33,231,112

Income taxes - current

10,619,303

11,273,182

11,767,273

13,126,285

13,598,256

Income taxes - deferred(210,786)

312,632(429,211)(220,612)(319,740)

10,408,517

11,585,815

11,338,061

12,905,672

13,278,516
19,952,596

Total income taxes
Income before minority interests--

15,697,869

17,246,351

Minority interests in income (loss)

679,144746,946

21,408(51,225)(36,470)

14,473,727

18,374,023

15,676,460

17,297,577

19,989,067

Net income

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

8

Consolidated Statement of Cash Flows(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

Net cash provided by (used in) operating activities

13,248,846

12,490,025

18,998,704

15,395,953

22,997,936

Income before income taxes and minority interests

25,561,389

30,706,786

27,035,930

30,152,024

33,231,112

Depreciation

1,928,744

2,189,606

2,648,130

3,250,878

3,885,923

43,93911,87996,24462,672

8,583

157

3,563

11,447(12,264)3,636Interest and dividend income(18,973)(125,976)(41,475)(47,453)(80,297)

Interest expenses

156,144

166,482

132,524

74,01253,899Foreign exchange losses (gains)(300,026)

198,971

2,732(104,166)△85,952

Loss (gain) on valuation of securities

-

-

-

16,582-

Loss (gain) on valuation of derivatives--(942,582)(106,753)-

Loss (gain) on cancellation of derivatives

-

-

-

-

1,049,336

Loss (gain) on sales of investment securities-(150,847)---

Loss (gain) on sales of shares of subsidiaries and associates-(3,475,693)

-

-

-

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

34,326(782,307)

110,445

114,531

174,214

Impairment loss

323,120

411,379

549,577

408,046

263,840--

549,530--

Cash flows from operating activities

Increase (decrease) in provision for bonuses
Increase (decrease) in allowance for doubtful accounts

Loss on adjustment for changes of accounting standard
for asset retirement obligations
Loss on valuation of golf club memberships-

12,359---Dividend income and refund premiums of insurance(59,193)

-

-

-

-

Income from contract penalty(350,000)

-

-

-

-

Share of (profit) loss of entities accounted for using equity method(692,270)

391,220---

Decrease (increase) in notes and accounts receivable - trade(581,740)(47,768)(298,790)(620,481)(853,310)(4,455,464)

Decrease (increase) in inventories(3,035,057)(4,879,416)(860,055)(5,362,064)

Increase (decrease) in notes and accounts payable - trade(714,209)(331,979)(191,642)(915,849)

659,116

Other, net(298,165)

242,726

1,044,345

723,693

3,002,399

Subtotal

21,998,184

24,540,986

29,846,360

27,633,408

36,857,037

Interest and dividend income received

23,340117,884

33,842

32,92056,908Proceeds from dividend income from entities accounted
for using equity method

104,002

187,203---

Interest expenses paid

(146,426)(167,167)(138,066)(76,415)(52,708)

Payments for loss on disaster--(37,552)--

Payments for donation--(52,957)--

350,000

-

-

-

-

(9,080,254)(12,188,881)(10,652,922)(12,193,959)(13,863,300)

Proceeds from contract penalty
Income taxes paid

9

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Consolidated Statement of Cash Flows(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14(12,160,736)

8,068,521(10,515,422)(17,203,674)(7,573,433)-(177,110)(5,400)(5,400)-

Proceeds from withdrawal of time deposits

202,740

74,7195,400

120,526

33,236

Purchase of investment securities-

Cash flows from investing activities
Net cash provided by (used in) investing activities
Payments into time deposits(49,759)---

Proceeds from sales of investment securities-

312,903---

Purchase of property, plant and equipment(5,232,683)(3,257,758)(5,615,864)(4,093,447)(3,862,523)-

3,589,489

17,799

5,137

4,918
(466,501)

Proceeds from sales of property, plant and equipment
Purchase of intangible assets(99,038)(453,351)(207,396)(419,560)

1,660,640

-

-

-

-

(11,691)(44,543)(78,681)(55,935)(92,037)(6,832,258)

-

-

-

-

-

10,160,000

-

-

-

Purchase of insurance funds(1,253)

-

-

-

-

Proceeds from maturity and cancellation of insurance funds

67,285----

Payments of loans receivable(252,867)(305,500)(315,500)(185,000)(1,770,000)

Collection of loans receivable

27,27940,406

57,696

83,062

85,233Purchase of shares of subsidiaries--(3,435,971)--

Purchase of shares of subsidiaries resulting in change
in scope of consolidation

-

-

-

(10,999,115)(1,993,985)

Proceeds from bargain cancellation of property, assets
Payments for store removal
Purchase of shares of subsidiaries and associates
Proceeds from sales of shares of subsidiaries and associates

Payments for lease and guarantee deposits(2,175,219)(2,415,938)(1,527,365)(2,562,575)

Proceeds from collection of lease and guarantee deposits

332,372

691,886

669,580

1,011,240

586,420

Other payments(83,340)(210,247)(118,699)(240,663)(114,890)

Other proceeds

287,057

63,56538,980138,055

16,695

Net cash provided by (used in) financing activities

1,923,290(6,467,879)(4,972,811)

28,209,995(5,916,784)

Net increase (decrease) in short-term loans payable(591,667)(3,601,661)(2,108,047)

864,471(972,001)

Proceeds from long-term loans payable

5,000,000-

10,000,000--

Cash flows from financing activities

Repayments of long-term loans payable--(9,252,800)(2,259,060)(1,002,800)(2,484,719)(2,861,186)(3,609,464)(3,384,043)(3,989,669)

-

-

-

-

69,510

(322)

-

-

-

-

Proceeds from issuance of bonds with subscription rights to shares

-

-

-

33,000,000-

Other payments-(5,031)(2,499)(11,371)(21,823)

58,335(38,339)(88,091)

378,867

475,789

Net increase (decrease) in cash and cash equivalents

3,069,735

14,052,327

3,422,379

26,781,142

9,983,508

Cash and cash equivalents at beginning of period

21,446,497

24,516,232

38,568,560

41,990,939

68,772,082

Cash and cash equivalents at end of period

24,516,232

38,568,560

41,990,939

68,772,082

78,755,590

Cash dividends paid
Proceeds from share issuance to minority shareholders
Purchase of treasury shares

Effect of exchange rate change on cash and cash equivalents

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

10

Consolidated Statement of Changes in Equity

FY2/13
Shareholders' equity

Accumulated other comprehensive income
Valuation
Foreign
Total
difference
currency
shareholders' on availabletranslation
equityfor-saleadjustment
securities(￥ thousand)Capitalstock

CapitalsurplusRetainedearnings

TreasurysharesBalance at beginning of current period

3,482,930

7,488,686

82,402,496(522)

93,373,591(5,746)(1,432,324)

Total
accumulated
othercomprehensive
income(1,438,071)

Minority
interests

Total
net assets

300,628

92,236,148

Changes of items during period
Dividends of surplus(3,388,241)(3,388,241)(3,388,241)

Net income

17,297,577

17,297,577

17,297,577

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

19,1783,610,033

3,629,212(10,012)3,619,200--

13,909,335-

13,909,335

19,1783,610,033

3,629,212(10,012)

17,528,535

3,482,930

7,488,686

96,311,831(522)

107,282,926

13,432

2,177,708

2,191,141

290,616

109,764,684

Minority
interests

Total
net assets

290,616

109,764,684

FY2/14
Shareholders' equity

Accumulated other comprehensive income
Valuation
Foreign
Total
difference
currency
shareholders' on availabletranslation
equityfor-saleadjustment
securities(￥ thousand)Capitalstock

CapitalsurplusRetainedearnings

TreasurysharesBalance at beginning of current period

3,482,930

7,488,686

96,311,831(522)

107,282,926

13,432

2,177,708

Total
accumulated
othercomprehensive
income2,191,141

Changes of items during period
Dividends of surplus(3,990,596)(3,990,596)(3,990,596)

Net income

19,989,067

19,989,067

19,989,067

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

113,482,930

-

9,815

6,064,106

6,073,921

82,1086,156,029

15,998,471-

15,998,471

9,815

6,064,106

6,073,921

82,10822,154,500

7,488,686 112,310,302(522)

123,281,397

23,2488,241,814

8,265,062

372,724

131,919,185

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

Information by Segment and Category
Results by Segment(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

113,507,052

127,367,153

140,761,016

159,418,140

188,045,018

Domestic

103,026,996

112,442,646

121,856,243

131,773,827

145,187,331

Overseas

10,480,056

14,924,506

18,904,773

27,644,313

42,857,687

24,186,158

26,857,499

27,221,227

30,375,117

34,126,024

Domestic

22,526,414

23,926,382

24,617,520

28,759,548

31,358,352

Overseas1,700,792

2,863,410

2,612,929

1,611,556

2,782,149

Elimination(41,047)

67,706(9,222)

4,012(14,477)

Net sales

Operating income

Assets99,400,512

111,087,052

120,203,941

174,159,421

196,881,032

Domestic

88,133,778

95,411,837

101,607,412

135,687,435

149,087,596

Overseas

14,247,929

15,718,519

18,655,296

39,097,224

47,903,934

Elimination(2,981,196)(43,303)(58,767)(625,238)(110,498)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14(%)
Composition ratio to net sales

100.0

100.0

100.0

100.0

100.0

Domestic

90.8

88.3

86.6

82.7

77.2

Overseas

9.2

11.7

13.4

17.3

22.8

Operating income margin

21.3

21.1

19.3

19.1

18.1

Domestic

21.9

21.3

20.2

21.8

21.6

Overseas

16.2

19.2

13.8

5.8

6.5

Note: Reporting segment names were changed from FY2/13.
As a result, segment results prior to FY2/12 have been restated to conform to the new segment names.

Sales by Category(%)
Ratio of in-house products (domestic)*(￥ thousand)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

45.7

45.9

44.7

46.5

48.0

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

Net sales

113,507,052

127,367,153

140,761,016

159,418,140

188,045,018

Sports56,419,808

61,613,476

68,909,762

73,942,556

87,441,766

Leather Casual

18,442,962

21,627,609

23,200,585

30,058,924

39,079,910

Ladies'15,302,255

17,296,974

18,232,412

21,833,829

23,309,639

Business

8,478,108

9,386,321

10,467,999

10,626,973

11,163,759

Kids

6,283,202

6,925,666

7,496,787

8,547,085

10,405,627

Sandals

2,998,426

3,232,967

4,319,874

4,702,643

5,492,363

Others5,582,288

7,284,138

8,133,594

9,706,127

11,151,952*Note: In-house products = Private brands + In-house brands

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

12

Consolidated Profitability Indicators(￥ million)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

Net sales

113,507

127,367

140,761

159,418

188,045

Gross profit

64,47674,28081,10291,309103,727

SG&A expenses

40,29047,42253,88160,93369,601

Operating income

24,186

26,85727,22130,37534,126

Ordinary income

25,56826,71028,39930,747

34,814

Net income

14,473

18,374

15,676

17,297

19,989(%)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14Gross profit on net sales

56.8

58.3

57.6

57.3

55.2

SG&A expenses ratio

35.5

37.2

38.3

38.2

37.0

Operating income margin

21.3

21.1

19.3

19.1

18.1

Ordinary income margin

22.5

21.0

20.2

19.3

18.5

Net income margin

12.8

14.4

11.1

10.9

10.6

Gross profit on net sales=Gross profit/Net sales
SG&A expenses ratio=SG&A expenses/Net sales
Operating income margin=Operating income/Net sales
Ordinary income margin=Ordinary income/Net sales
Net income margin=Net income/Net sales

Operating income margin

Gross profit on net sales
Net sales
Gross profit on net sales

Gross profit(%)(￥million)

80.0

200,000

150,000

60.0

150,000

100,000

40.0

100,000(￥million)
200,000

Net sales
Operating income margin

Operating income (%)
25.0
20.0
15.0
10.0

50,0000
FY2/10FY2/11

FY2/12

FY2/1320.0

50,0000.0

0FY2/145.0
0.0
FY2/10FY2/11200,000

Net sales
Ordinary income margin

FY2/13

FY2/14

Net income margin

Ordinary income margin(￥million)

FY2/12

Ordinary income(%) (￥million)
25.0
20.0

150,000

Net sales

Net income

Net income margin (%)

200,000

20.0

150,000

15.0

100,000

10.0

50,0005.0

15.0
100,000
10.0

50,0005.0

00.0
FY2/1013

FY2/11

FY2/12

FY2/13

FY2/140

0.0
FY2/10FY2/11

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

FY2/12

FY2/13

FY2/14

Consolidated Efficiency Indicators

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

Total assets turnover(times)

1.14

1.15

1.17

0.92

0.96

Non-current assets turnover

2.21

2.89

2.96

2.61

2.79

Current assets turnover

2.36

1.90

1.94

1.41

1.45

FY2/10FY2/11

FY2/12

FY2/13

FY2/14Inventories turnover(days)

57.75

64.95

60.27

76.04

76.58

Accounts receivable turnover

6.34

6.79

6.65

11.59

12.55

Accounts payable turnover

24.81

21.41

18.53

17.12

16.60

Total assets turnover=Net sales/Total assets
Non-current assets turnover=Net sales/Non-current assets
Current assets turnover=Net sales/Current assets
Inventories turnover=Inventories/Net salesx365
Accounts receivable turnover=Accounts receivable/Net salesx365
Accounts payable turnover=Accounts payable/Net salesx365

Non-current assets turnover

Current assets turnover(times)(times)

5.00

5.00

4.00

4.00

3.00

3.00

2.00

2.00

1.00

1.00
0.00

0.00
FY2/10FY2/11

FY2/12

FY2/13

FY2/10FY2/14Inventories turnoverFY2/11

FY2/12

FY2/13

FY2/14

Accounts receivable turnover(days)(days)

80.00

14.00

75.00

12.00

70.00

10.00

65.00

8.00

60.00

6.00

55.00

4.00

50.00

2.00

45.00

0.00

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

FY2/10FY2/11

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

FY2/12

FY2/13

FY2/1414

Consolidated Stability Indicators(￥ million)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14Equity65,33180,41391,935

109,474

131,546

Total assets

99,400111,087

120,203

174,159

196,881

Non-current assets

51,26844,04547,49961,092

67,338Current assets

48,131

67,041

72,704

113,067

129,542

Current liabilities

26,86925,95823,68225,96027,362

Interest-bearing debt

13,311

9,633

8,267

40,641

38,781(%)

FY2/10FY2/11

FY2/12

FY2/13

FY2/14Equity ratio

65.7

72.4

76.5

62.9

66.8

D/E ratio

20.4

12.0

9.0

37.1

29.5

Fixed ratio

78.5

54.8

51.7

55.8

51.2

Current ratio

179.1

258.3

307.0

435.5

473.4

ROA

16.0

17.5

13.6

11.8

10.8

ROE

24.4

25.2

18.2

17.2

16.6

Interest-bearing debt=Short-term loans payable+Current portion of long-term loans payable+Long-term loans payable+Convertible bond-type bonds with subscription rights to shares
Equity ratio=Equity/Total assets

Current ratio=Current assets/Current liabilities

D/E ratio=Interest-bearing debt/Equity

ROA=Net income/Average total assets

Fixed ratio=Non-current assets/Equity

ROE=Net income/Average equity

D/E ratio

Equity ratio(￥million)(%)(￥million)

200,000

100.0

150,000

160,000

80.0

120,000

120,000

60.0

90,00080,00040.0

60,00040,00020.0

30,0000

0.0

0EquityTotal assets

Equity ratio

EquityInterest-bearing debt

D/E ratio

(%)
40.0
35.0
30.0

25.0
20.0

FY2/10FY2/11

FY2/12

FY2/13

FY2/14

15.0

10.0
5.0
0.0

FY2/10FY2/11

ROA(￥million)

Total assets

FY2/12

FY2/13

FY2/14

ROE
ROA

200,000
160,000(%)(￥million)

20.0

150,000

30.0

120,000

25.0

15.0

Equity

(%)

ROE

20.0

90,000120,000

15.0

10.0
60,00080,0005.0

40,0000

0.0
FY2/1015

FY2/11

FY2/12

FY2/13

FY2/1410.0

30,000

5.0

0

0.0

FY2/10FY2/11

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

FY2/12

FY2/13

FY2/14

Stock Information
Per Share Indicators(￥)

FY2/10Stock price at term end
Closing stock price range for the last 12 months

FY2/11

FY2/12

FY2/13

FY2/14

2,935

3,255

2,863

3,235

4,030

1,738-3,015

2,386-3,645

2,667-3,375

2,727-3,785

3,180-5,080

192.23244.03208.20229.73265.48---228.30242.33

1,067.98

1,221.02

1,453.95

1,747.10

48.00

42.00

50.00

55.00

Earnings per share (EPS)

Diluted EPS
Book-value per share (BPS)

867.68Dividend per share (DPS)

35.00

(*)

Note: * Inclusive of 10 year commemorative listing dividend of \10

Status of Major Shareholders

As of February 28, 2014
Number of Shares(thousand shares)

Shareholding Ratio(%)

Masahiro MikiEM Planning LLC
Michiko Miki
Northern Trust Company (AVFC) Sub Account Non Treaty
The Master Trust Bank of Japan, Ltd. （trust account）

21,38020,628
9,484
1,520
1,378

28.39
27.39
12.59
2.01
1.83

Japan Trustee Services Bank, Ltd. (trust account)

1,369

1.81

JP Morgan Chase Bank 385047

865

1.14

Northern Trust Company AVFC Re Fidelity Funds

829

1.10

The Chase Manhattan Bank N.A. London Secs Lending Omnibus Account

770

1.02

National Mutual Insurance Federation of Agricultural Cooperatives

683

0.90

Top 10 Shareholders

Note: In addition to the above, ABC-MART, INC. holds 164 shares (0.00%) in treasury shares.

Breakdown of Types of Shareholders
Individuals and others
Other Japanese companies
Financial instruments business operators

Foreign institutions and others
Financial institutions
0.36%

FY2/1442.79%

21.48%

27.53%

7.84%

0.71%
FY2/1352.13%

22.49%

19.27%

5.40%

0.46%
FY2/120.00%

51.47%

20.00%

40.00%

19.14%

19.26%

60.00%

80.00%

9.67%

Copyright (C) 2014 ABC-MART, INC. All Rights Reserved.

100.00%16

Contact
ABC-MART, INC.
Investor Relations
Phone:+81-3-3476-5452
http://www.abc-mart.co.jp/ir/