Note: This document is a translation of the original Japanese document and is only for reference purposes. In the event ofany discrepancy between this translated document and the Japanese original, the latter shall prevail.

Consolidated Financial Results for the First Three Months of
the Fiscal Year Ending February 28, 2023
(under Japanese GAAP)
July 8, 2022
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
TEL:

LIFE CORPORATIONTokyo Stock Exchange8194
http://www.lifecorp.jp/
Takaharu Iwasaki, Representative Director and President
Koichi Miyata, General Manager, Investor Relations Department+81-3-5807-5111 (from overseas)

Scheduled date to file Quarterly Securities Report:
July 15, 2022
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results meeting:
None

1.

(Amounts less than one million yen are rounded down.)
Consolidated financial results for the first three months of the fiscal year ending February 28, 2023
(from March 1, 2022 to May 31, 2022)(1) Consolidated operating results (cumulative)
Operating revenue
Three months ended(Percentages indicate year-on-year changes.)

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

185,780–5,520(34.4)

5,720(33.5)

3,981(34.4)

May 31, 2021
190,917
Note: Comprehensive income
Three months ended May 31, 2022:
Three months ended May 31, 2021:

(2.2)

8,415

(3.4)

8,603

(2.6)

6,067

(2.0)

May 31, 2022

¥3,944 million [(33.8)%]¥5,957 million [(1.3)%]

Reference: Operating revenue is the total of net sales and receipts from operating revenue.
Net sales
Three months ended May 31, 2022:
Three months ended May 31, 2021:¥179,223 million [–%]
¥185,079 million [(2.3)%]

Receipts from operating revenue
Three months ended May 31, 2022:
Three months ended May 31, 2021:¥6,556 million [–%]
¥5,837 million [0.7%]

Earnings per share
Three months ended
May 31, 2022

Diluted earnings per share
Yen

Yen

84.95



May 31, 2021
129.47
Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc., from the beginningof the first quarter of the fiscal year ending February 28, 2023.
Figures for the three months ended May 31, 2022 represent the amounts after applying the said accounting standard, etc., and do notinclude year-on-year changes for operating revenue.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

May 31, 2022

270,559

112,44641.6

2,399.26

February 28, 2022

270,229

110,29940.8

2,353.44

Reference: Equity
As of May 31, 2022:
As of February 28, 2022:¥112,446 million¥110,299 million

Note:

2.

The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc., from the beginningof the first quarter of the fiscal year ending February 28, 2023.
Figures for the three months ended May 31, 2022 represent the amounts after applying the said accounting standard, etc.

Cash dividends
Annual dividends
First quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended
February 28, 2022



30.00



40.00

70.00

Fiscal year ending
February 28, 2023



35.00



35.00

70.00

Fiscal year ending
February 28, 2023
(Forecast)Fiscal year-end

Total

Notes: 1. Revisions to the forecast of cash dividends most recently announced: None
2. Breakdown of year-end dividend for the fiscal year ended February 28, 2022: Ordinary dividend of ¥30.00, and the 60th
anniversary commemorative dividend of ¥10.00

3.

Consolidated earnings forecasts for the fiscal year ending February 28, 2023
(from March 1, 2022 to February 28, 2023)(Percentages indicate year-on-year changes.)
Operating revenue

Fiscal year ending
February 28, 2023
Note:

Operating profit

Profit attributable toowners of parent

Ordinary profit

Earnings per
share

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

770,000–

23,2001.2

24,0001.3

15,5001.9

330.72

Revisions to the consolidated earnings forecasts most recently announced: None
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc., from the beginningof the first quarter of the fiscal year ending February 28, 2023. Therefore, the above consolidated earnings forecasts represent theamounts calculated by applying the said accounting standard, etc., but do not include year-on-year changes for operating revenue as
the accounting treatment method subject to comparison differs.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Application of special accounting treatment to the preparation of quarterly consolidated financial
statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial
statements
i. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
ii. Changes in accounting policies due to other reasons: Noneiii. Changes in accounting estimates: None
iv. Restatement: None
Note: For details, please refer to 2. Quarterly consolidated financial statements and significant notes
thereto, (3) Notes to quarterly consolidated financial statements, “Changes in accounting policies” onpage 8 of the attached material.
(4) Number of issued shares (ordinary shares)
i. Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2022
49,450,800 shares
As of February 28, 2022
49,450,800 shares
ii. Number of treasury shares at the end of the period
As of May 31, 2022
2,583,547 shares
As of February 28, 2022
2,583,502 sharesiii. Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended May 31, 2022
46,867,292 shares
Three months ended May 31, 2021
46,867,625 shares
Note: The number of treasury shares at the end of the period includes the Company’s shares (90,300 shares
as of May 31, 2022, and 90,300 shares as of February 28, 2022) held by Custody Bank of Japan, Ltd.
(Trust Account) as the trust assets for the “Trust for Delivering Shares to Directors.”
In addition, the Company’s shares held by Custody Bank of Japan, Ltd. (Trust Account) are includedin the treasury shares that are excluded from the calculation of the average number of shares during
the period. (90,300 shares as of May 31, 2022, and 90,300 shares as of May 31, 2021)* Quarterly financial results reports are not required to be subjected to quarterly financial reviews conducted bycertified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable. Actual
business and other results may differ substantially due to various factors. Please refer to “Explanation of
consolidated earnings forecasts and other such forward-looking information” on page 3 of the attached material
for the suppositions that form the assumptions for earnings forecasts and cautions concerning the use thereof.

Attached material
1. Qualitative information on quarterly financial results .......................................................................................................... 2(1) Explanation of operating results .....................................................................................................................................2(2) Explanation of financial position ....................................................................................................................................3(3) Explanation of consolidated earnings forecasts and other such forward-looking information ........................................3
2. Quarterly consolidated financial statements and significant notes thereto ........................................................................... 4(1) Quarterly consolidated balance sheet ..............................................................................................................................4(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income .............................6
Quarterly consolidated statement of income (cumulative) ..............................................................................................6
Quarterly consolidated statement of comprehensive income (cumulative) .....................................................................7(3) Notes to quarterly consolidated financial statements ......................................................................................................8
Notes on premise of going concern .................................................................................................................................8
Notes on the event of significant changes in the amount of shareholders’ equity ...........................................................8
Changes in accounting policies .......................................................................................................................................8
Notes to quarterly consolidated statement of income......................................................................................................9
Segment information, etc. ............................................................................................................................................. 10
Significant subsequent events ....................................................................................................................................... 11-1-

1. Qualitative information on quarterly financial results(1) Explanation of operating results
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement
No. 29), etc. from the first quarter of the current fiscal year. As a result, the accounting treatment
method for revenues differs from that used in the first three months of the previous fiscal year;
therefore, in the following explanation of operating results, no increase or decrease amounts or
year-on-year comparisons (%) are shown for operating revenues and net sales. Moreover, theamounts of operating profit, etc., are those of the same period of the previous year due to thenegligible impact.
During the first three months of the current fiscal year, the Japanese economy continued to face anuncertain outlook due to the tense situation in Ukraine and soaring resource prices, despite moves
toward normalization of economic activities, including additional vaccinations against COVID-19
and the lifting of COVID-19 restrictions.
In the food supermarket industry, which is the Group’s area of business, the environment
surrounding corporate operations is becoming increasingly severe. The demand for eating at homecaused by COVID-19 has been calming down, competition is intensifying across industries andbusiness categories, and various costs, including heating and lighting expenses, are rising.
In this economic environment, this fiscal year is positioned as the year for the total completion of
the medium-term plan. This plan, commenced in fiscal 2018, aims to make each of our stores theNo. 1 in the area with even greater trust from customers. In order to break away from homogeneouscompetition and promote differentiation, we are focusing on the development of original products
such as “BIO-RAL” —a private brand that uses healthy materials and production methods forcustomers interested in health and natural products— expanding our online supermarket businessincluding services for Amazon Prime members, and aggressively opening new stores. Our Central
Square Yebisu Garden Place Store, which opened in April, is positioned as a next-generation
supermarket that combined brick-and-mortar stores and online supermarkets with the businessconcepts of Central Square (“making daily shopping from convenience to fun”) and BIO-RAL(“organic, healthy, local, and sustainable”). It has received increasing attention from various media
and has been getting support from many customers.
Furthermore, in March, as part of our efforts to realize a sustainable and flourishing society, we
started full-scale operation of one of the largest bio-gas power generation facilities in the Japaneseretail industry at Tempozan, which reduces food residues and creates renewable energy.
We opened four new stores: Central Square Yebisu Garden Place Store (Tokyo) (mentioned above),
Kameido Clock Store (Tokyo) and Horikawa Kitayama Store (Kyoto Prefecture) in April, and
BIO-RAL Shinjuku Marui Store (Tokyo) in May. We also renovated the existing Shiki Store to
expand the lineup of frozen foods, wine and pet foods, for which demand is growing.
The Group’s operating revenue totaled ¥185,780 million as a result of the expansion of new storesand online supermarkets, strengthening of private brand products such as BIO-RAL, andimplementing product initiatives that sought to enhance taste. On the other hand, as for selling,
general and administrative expenses, the Group saw increases in utilities expenses, various property
expenses, rent expenses from opening new stores, and personnel expenses from increased hiring
activities. Operating profit was ¥5,520 million (¥8,415 million in the same period of the previousyear), ordinary profit was ¥5,720 million (¥8,603 million in the same period of the previous year),and profit attributable to owners of parent was ¥3,981 million (¥6,067 million in the same period of
the previous year).

-2-

Results by segment are as follows:(Retail Business)
Operating revenue was ¥185,733 million, with net sales of ¥179,223 million, and segment profit of¥5,656 million (¥8,595 million in the same period of the previous year).
Net sales by department were ¥78,704 million for fresh produce, ¥79,400 million for general food,¥15,528 million for lifestyle products, and ¥5,590 million for apparel.
(Other Business)
Operating revenue from LIFE FINANCIAL SERVICE was ¥621 million (¥587 million in the same
period of the previous year), with segment profit of ¥63 million (¥8 million in the same period of
the previous year).
(2) Explanation of financial position
Assets, liabilities, and net assets
Total assets at the end of the first quarter of the current fiscal year were ¥270,559 million, an
increase of ¥330 million from the end of the previous fiscal year.
Current assets totaled ¥72,146 million, a decrease of ¥2,334 million from the end of the previous
fiscal year. This was mainly due to a ¥6,485 million decrease in accounts receivable - other (othercurrent assets), while cash and deposits increased by ¥1,367 million, accounts receivable - trade
increased by ¥1,504 million, merchandise and finished goods increased by ¥1,082 million.
Non-current assets totaled ¥198,413 million, an increase of ¥2,664 million from the end of theprevious fiscal year. This was mainly due to an increase of ¥2,377 million in property, plant andequipment after depreciation, resulting from new store openings.
Total liabilities at the end of the first quarter of the current fiscal year were ¥158,112 million, adecrease of ¥1,817 million from the end of the previous fiscal year. This was mainly due todecreases of ¥1,737 million in total short-term borrowings and long-term borrowings and ¥4,413
million in accounts payable - other (other current liabilities), while accounts payable - trade
increased by ¥3,659 million compared to the end of the previous fiscal year.
Total net assets at the end of the first quarter of the current fiscal year were ¥112,446 million, an
increase of ¥2,147 million from the end of the previous fiscal year. This was mainly due to a ¥2,183
million increase in retained earnings.
(3) Explanation of consolidated earnings forecasts and other such forward-looking information
There is no change in the consolidated earnings forecasts for the fiscal year ending February 28,
2023 from that announced on April 11, 2022 in the “Consolidated Financial Results for the Fiscal
Year Ended February 28, 2022.”
Moreover, it remains difficult to reasonably foresee the impact of COVID-19 pandemic on theGroup’s businesses in the future. The forecast for the second half of this fiscal year and beyond, inparticular, has been prepared by taking into account as many factors as possible that we can assume
at this point in time. However, we will closely monitor future economic and consumer spending
trends, and if it becomes necessary to revise our consolidated earnings forecasts, we will disclose
them promptly.

-3-

2. Quarterly consolidated financial statements and significant notes thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of February 28, 2022
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise and finished goods
Raw materials and supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-4-

As of May 31, 2022

9,809
8,133
23,880258
32,39974,48011,176
9,637
24,963259
26,10972,146

86,64839,256
24,584150,490
3,508

86,71039,256
26,901
152,868
3,405

24,086
17,704(41)
41,749195,748
270,229

24,216
17,965(42)
42,139198,413
270,559(Millions of yen)
As of February 28, 2022
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for sales promotion expenses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets-5-

As of May 31, 2022

41,66638,50014,865
3,901
2,555
1,963
29,026
132,478

45,32534,05014,431
2,498
4,891
26
26,481
127,704

12,24815,395

56

56

2,999
5,014
7,132
27,451
159,929

2,992
5,055
6,908
30,408158,112

10,004
5,628
99,221(3,930)110,923

10,004
5,628
101,405(3,930)113,107357(1,114)
133(623)
110,299
270,229316(1,114)138(660)
112,446
270,559(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
incomeQuarterly consolidated statement of income (cumulative)(Millions of yen)Three months ended
May 31, 2021
Net sales
Cost of sales
Gross profit
Receipts from operating revenue
Operating gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Income from recycling
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on COVID-19
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

*1

-6-

Three months ended
May 31, 2022

185,079
127,976
57,103
5,837
62,94154,525
8,415

179,223
123,72255,501
6,556
62,05756,536
5,520

36
6
61
149
254

33
4
78
143
259

50
16
66
8,603

43
15
59
5,720

249
249

–
–

5
22
7
35
8,817
2,887
(137)
2,749
6,067
6,067

4
–
–
4
5,716
2,071
(336)
1,735
3,981
3,981

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)Three months ended
May 31, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent-7-

Three months ended
May 31, 2022

6,067

3,981

(113)
3
(110)
5,957

(40)
4
(36)
3,944

5,957

3,944

(3) Notes to quarterly consolidated financial statements
Notes on premise of going concern
Not applicable.
Notes on the event of significant changes in the amount of shareholders’ equity
Not applicable.
Changes in accounting policies
Application of Accounting Standard for Revenue Recognition, etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29, March 31, 2020), etc., from the beginning of the first quarter of the current
fiscal year, and it has recognized revenue at the time the control of promised goods or services
is transferred to the customer at the amount expected to be received upon exchange of said
goods or services.
The main changes resulting from the application of the Accounting Standard for Revenue
Recognition, etc., are as follows:
1. Revenue recognition for agency transactions
With respect to revenue from transactions in which purchase of goods, etc. is recognized at thetime of sales thereof (shoka shiire), the Company previously recognized the total consideration
received from customers as net sales and the total consideration paid to suppliers as cost of
sales. However, as the Company’s role, in such transactions, in providing goods, etc., tocustomers is determined to be that of an agent, the Company has changed its method ofrecognizing revenue to the net amount of the total consideration received from customers lessthe total consideration paid to suppliers. Moreover, these revenues are recorded in receipts
from operating revenue and not net sales.
2. Revenue recognition for our point system
The Company offers a customer loyalty program, whereby members are awarded points basedon the amount of purchases they make. Previously, to prepare for the redemption of points
granted to customers, the amount expected to be required to redeem the points was recorded asprovision for sales promotion expenses, whose transfer amount was recorded as selling,
general and administrative expenses. However, the Company has changed its method to
identify such points as performance obligations and allocate the transaction price by
calculating the independent selling price of the points considering the expected future
expiration and other factors.
As a result of this change, what was recorded as selling, general and administrative expenses is
now deducted from net sales, and the liability for points awarded based on the purchaseamount, which was presented as “provision for sales promotion expenses” on the consolidatedbalance sheet in the previous fiscal year, is now “contract liabilities” and included in “other”
under current liabilities.
3. Revenue recognition related to company-issued coupons and points issued by other companies
Previously, the Company recorded the gross amount of company-issued coupons and points
issued by other companies for sales to customers as net sales, and used company-issued
coupons and granted points issued by other companies as sales promotion expenses in selling,
general and administrative expenses. Now we have changed the method of recognizing
revenue as the net amount of the total consideration received from customers less relevantcosts.
The application of the Accounting Standard for Revenue Recognition, etc., is in accordancewith the transitional treatment provided for in the proviso to paragraph 84 of the AccountingStandard for Revenue Recognition. The cumulative effect of retrospective application,-8-

assuming the new accounting policy had been applied to periods prior to the beginning of thefirst quarter of the current fiscal year was added to or deducted from the opening balance ofretained earnings of the first quarter of the current fiscal year, and thus the new accounting
policy was applied from such opening balance.
For the first three months of the current fiscal year, as a result of this change, net sales
decreased by ¥5,823 million, cost of sales decreased by ¥3,806 million, receipts fromoperating revenue increased by ¥722 million, and selling, general and administrative expenses
decreased by ¥1,291 million, while operating profit, ordinary profit and profit before income
taxes each decreased by ¥3 million. The opening balance of retained earnings increased by ¥80
million.
In accordance with the transitional treatment provided for in paragraph 89-2 of the AccountingStandard for Revenue Recognition, figures for the previous fiscal year have not been restatedin accordance with the new approach to presentation. Furthermore, the information on
disaggregation of revenue from contracts with customers during the first three months of theprevious fiscal year has not been disclosed as allowed by the transitional treatment provided
for in paragraph 28-15 of the Accounting Standard for Quarterly Financial Reporting (ASBJ
Statement No. 12, March 31, 2020).
Application of Accounting Standard for Fair Value Measurement, etc.
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ
Statement No. 30, July 4, 2019), etc., from the beginning of the first quarter of the current
fiscal year, and it has applied the new accounting policy provided for by the AccountingStandard for Fair Value Measurement, etc. prospectively in accordance with the transitional
treatment provided for in paragraph 19 of the Accounting Standard For Fair Value
Measurement, and paragraph 44-2 of the “Accounting Standard for Financial Instruments”(ASBJ Statement No. 10, July 4, 2019). There is no impact on the quarterly consolidated
financial statements for the first three months of the current fiscal year.
Notes to quarterly consolidated statement of income*1 Loss on COVID-19
First three months of the previous fiscal year (March 1, 2021 to May 31, 2021)
The Company recorded a loss on COVID-19 in extraordinary losses resulting from theloss on abandonment of goods, disinfection expenses, and tenant support through rent
concessions incurred in stores and other facilities caused by the spread of COVID-19.
First three months of the current fiscal year (March 1, 2022 to May 31, 2022)
Not applicable.

-9-

Segment information, etc.
[Segment information]
I First three months of the previous fiscal year (March 1, 2021 to May 31, 2021)
Information on operating revenue and profit or loss by reportable segment
Reportablesegment

Other (Note 2)

Total

Adjustments

Retail Business(Millions of yen)Amounts recordedin quarterly
consolidated
statement ofincome (Note 3)

Operating revenue (Note 1)
Operating revenue fromexternal customers
Intersegment operating
revenue and transfers
Total
Segment profit
Notes: 1.
2.
3.

190,684

233

190,917–

190,917

0

354

355

(355)

–

190,685587

191,272(355)

190,917

8,595

8

8,603

–

8,603

Operating revenue is the total of net sales and receipts from operating revenue.
“Other” includes credit card business, etc.
Segment profit is adjusted to ordinary profit in the quarterly consolidated statement of income.

II First three months of the current fiscal year (March 1, 2022 to May 31, 2022)
1. Information on operating revenue and profit or loss by reportable segment and on
disaggregation of revenue
Reportablesegment
Other (Note 2)

Total

Adjustments

Retail Business(Millions of yen)Amounts
recorded inquarterly
consolidated
statement ofincome (Note 3)

Operating revenue (Note 1)
Revenue from contracts withcustomers
Other revenue (Note 4)
Operating revenue fromexternal customers
Intersegment operating
revenue and transfers
Total
Segment profit
Notes: 1.
2.
3.
4.

184,418265

184,683–

184,683

1,096

–

1,096

–

1,096

185,514265

185,780–

185,780

218

356

574

(574)

–

185,733

621

186,355(574)

185,780

5,656

63

5,720

–

5,720

Operating revenue is the total of net sales and receipts from operating revenue.
“Other” includes credit card business, etc.
Segment profit is adjusted to ordinary profit in the quarterly consolidated statement of income.
Other revenue includes real estate lease revenue based on the Accounting Standard for Lease Transactions(ASBJ Statement No. 13).

2. Matters related to changes in reportable segments, etc.
As described in notes to “Changes in accounting policies,” the Company has applied the
Accounting Standard for Revenue Recognition, etc., from the beginning of the first quarter of- 10 -

the current fiscal year, and changed the accounting treatment for revenue recognition.
Accordingly, the Company has changed the method of calculating profit or loss of operating
segments.
As a result of this change, compared to the previous method, in the Retail Business, net sales
decreased by ¥5,823 million (the full amount is revenue from contracts with customers),
receipts from operating revenue increased by ¥940 million (of which, revenue from contracts
with customers of ¥722 million and intersegment operating revenue and transfers of ¥217
million), and segment profit decreased by ¥3 million for the first quarter of the current fiscal
year.
Significant subsequent events
Not applicable.

- 11 -