Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended February 28, 2023
(Based on Japanese GAAP)
April 5, 2023
Company name:ICHIBANYA CO., LTD.

Stock exchange listing: Tokyo, Nagoya
Stock code:
7630
URL
Representative:
Inquiries:

https://www.ichibanya.co.jp/

President
General Manager of Corporate Planning

Dept.
Scheduled date of ordinary general meeting of shareholders:Mamoru Kuzuhara
Yasutaka Hirao

TEL(0586) 81 - 0792

May 30, 2023

Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

May 31, 2023
May 16, 2023

Preparation of supplementary material on financial results:
Holding of financial results meeting:

Yes
Yes

(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended February 28, 2023 (from March 1, 2022 to February 28, 2023)(1) Consolidated operating results
Net salesYear ended February 28, 2023
Year ended February 28, 2022

Operating profit

Millions of yen
48,28645,022%7.3
1.8

Millions of yen
3,613
2,855

Earnings per share

Diluted earnings per
share

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen
%
%
%
–
8.3
9.5
7.5
–
9.7
9.9
6.3

Yen
79.54
91.55

Year ended February 28, 2023
Year ended February 28, 2022

%
26.5
11.6

Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
owners of parent
Millions of yen% Millions of yen
%
4,042
(3.0)
2,538
(13.1)
4,168
34.3
2,921
68.3

(2) Consolidated financial position
Total assets
As of February 28, 2023
As of February 28, 2022

Net assets

Equity ratio

Millions of yen
42,432
42,467

Millions of yen
30,94530,607

Cash flows fromoperating activities
Millions of yen
3,958
5,238

Cash flows frominvesting activities
Millions of yen
(932)
(466)

Net assets per share
%
72.0
71.3

Yen
957.78949.02(3) Consolidated cash flows

Year ended February 28, 2023
Year ended February 28, 2022

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(2,969)17,678(3,075)
17,4202. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended February 28, 2022
Year ended February 28, 2023
Year ending February 29, 2024
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

–
–

40.00
40.00

–
–

40.00
40.00

80.00
80.00

2,553
2,553

87.4
100.6

8.4
8.4

–

40.00

–

40.00

80.00

1

88.7

3. Forecast of consolidated financial results for the year ending February 29, 2024 (from March 1, 2023 to February 29, 2024)
Net sales
Millions of yen
Six months ending
August 31, 2023
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

25,500

11.5

1,810

37.3

1,930

17.5

1,140

11.6

35.72

53,000

9.8

4,300

19.0

4,540

12.3

2,880

13.4

90.23

4. Notes(1) Changes in significant subsidiaries during the year ended February 28, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of February 28, 2023

31,926,000 shares As of February 28, 2022

31,926,000 shares

Number of treasury shares at the end of the period
As of February 28, 2023

6,836 shares As of February 28, 2022

13,637 shares

Average number of shares during the period
Year ended February 28, 2023

31,917,030 shares Year ended February 28, 2022

2

31,913,481 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of February 28, 2022

As of February 28, 2023

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade17,587,451
2,685,529

17,690,428
3,161,681

Merchandise and finished goods
Work in process

971,149
52,3551,001,425
47,519Raw materials and supplies
Other

234,843836,502260,984
819,759

22,367,833

22,981,799

Buildings and structures, net
Machinery, equipment and vehicles, net

4,652,471
692,365

4,844,872
687,188

Land
Leased assets, net

5,486,172
933,398

5,375,658
702,255

Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment

576,106

585,195

12,340,514

12,195,170

1,000,514
267,775

789,524
223,145

Intangible assets
Software
Goodwill
Other

41,12055,5001,309,410

1,068,170

Investment securities
Deferred tax assets

402,100
1,196,561

372,560
1,089,040

Guarantee deposits
Other

4,592,379
260,962

4,495,207
233,104

Total intangible assets
Investments and other assets

Allowance for doubtful accounts(2,420)(2,153)

Total investments and other assets

6,449,582

6,187,759

20,099,507

19,451,100

42,467,340

42,432,899

Total non-current assets
Total assets3

(Thousands of yen)
As of February 28, 2022

As of February 28, 2023

Liabilities
Current liabilities
Accounts payable - trade2,132,004

2,312,523

Lease liabilities
Accounts payable - other381,424
1,399,125

450,329
1,455,617

Income taxes payable
Contract liabilities

1,107,443
243,161574,309
231,368

319,505
95,848329,732
99,117

Provision for bonuses
Provision for shareholder benefit program
Other

279,888462,120

5,958,403

5,915,119

Lease liabilities
Retirement benefit liability

603,018
1,075,141

293,193
1,150,350

Long-term guarantee deposits
Asset retirement obligations

3,630,726
542,229

3,540,954
532,591

Total current liabilities
Non-current liabilities

Other

50,064

55,101

5,901,180

5,572,192

11,859,584

11,487,311

Share capital
Capital surplus

1,503,270
1,388,470

1,503,270
1,389,226

Retained earnings
Treasury shares

27,104,944(65,253)

27,090,313(32,701)

Total shareholders' equity

29,931,431

29,950,108

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

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

74,51653,977

Foreign currency translation adjustment
Remeasurements of defined benefit plans

305,715(26,057)

577,421(9,980)Total accumulated other comprehensive income

354,173

621,417322,150

374,061

30,607,755

30,945,588

42,467,340

42,432,899

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

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Thousands of yen)
Fiscal year ended
February 28, 2022

Fiscal year ended
February 28, 2023

Net sales

45,022,168

48,286,993

Cost of sales

24,070,804

25,517,637

Gross profit

20,951,363

22,769,356

Freight and packing costs
Provision of allowance for doubtful accounts

2,222,775(455)

2,326,095(267)

Remuneration for directors (and other officers)
Salaries and allowances

274,886
3,913,755

287,099
4,040,691

211,136
277,283

232,772
284,840

2,207,070
122,910

2,106,519
116,690

Legal welfare expenses
Provision for shareholder benefit program

780,135
89,185815,919
93,617

Utilities expenses
Supplies expenses

547,325
822,138

646,687
851,489

Depreciation
Amortization of goodwill

1,038,378
68,5381,135,335
44,629Rent expenses
Other

2,144,779
3,375,924

2,253,679
3,919,894

Total selling, general and administrative expenses

18,095,768

19,155,692

2,855,594

3,613,663

39,035
848,880

13,843
874,416

Subsidy income
Other1,025,856
180,283

246,733
83,235

Total non-operating income

2,094,056

1,218,229

Selling, general and administrative expenses

Bonuses
Provision for bonuses
Other salaries
Retirement benefit expenses

Operating profit
Non-operating income
Interest and dividend income
Rental income from buildings

Non-operating expenses
Interest expenses

14,88813,131

Rental expenses
Other

689,547
77,215688,935
86,860Total non-operating expenses

781,651

788,927

4,168,000

4,042,965

Ordinary profit
Extraordinary income
Gain on sale of investment securities

679,652–

Gain on sales of stores
Other

73,864–

142,875
2,560

Total extraordinary income

753,516

145,4355

(Thousands of yen)

Extraordinary losses
Loss on sale of non-current assets

Fiscal year ended

Fiscal year ended

February 28, 2022

February 28, 2023
5,706

33,806

Loss on retirement of non-current assets
Impairment losses

8,936
393,177

24,573
197,750

Loss on valuation of shares of subsidiaries and associates
Other

41,167
2,902

4,932
–

Total extraordinary losses

451,889

261,063

Profit before income taxes

4,469,626

3,927,337

Income taxes - current

1,504,958

1,248,406

Income taxes - deferred

24,209125,205

Total income taxes

1,529,168

1,373,612

Profit2,940,458

2,553,725

18,66015,0932,921,798

2,538,631

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

6

Consolidated statements of comprehensive income(Thousands of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

February 28, 2022

February 28, 2023

2,940,458

2,553,725

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(462,672)
378,790(20,539)
308,523

Remeasurements of defined benefit plans, net of tax

23,53916,076(60,342)304,061

Comprehensive income

Total other comprehensive income

2,880,116

2,857,787

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,829,174

2,805,875

50,942

51,911

Comprehensive income attributable to non-controllinginterests

7

Consolidated statements of changes in equity
Fiscal year ended February 28, 2022
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,503,270

Retained earnings

1,388,470

26,916,521

Cumulative effects ofchanges in accounting
policies
Restated balance

Total shareholders'equityTreasury shares(2,574)(179,621)
1,503,270

1,388,470

29,805,687(179,621)

26,736,900(2,574)

29,626,065

Changes during period
Dividends of surplus(2,553,505)(2,553,505)

Profit attributable to ownersof parent

2,921,798

2,921,798

Purchase of treasury shares
Disposal of treasury shares(248)

Transfer of loss on disposalof treasury shares

248(96,595)(96,595)

33,916

33,668(248)–

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period––

368,044(62,678)

305,365

1,503,270

1,388,470

27,104,944(65,253)

29,931,431

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-for-salesecurities

Foreign currencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total accumulated
othercomprehensive
income537,189(40,793)(49,597)446,797

Cumulative effects ofchanges in accounting
policies
Restated balance

Non-controllinginterests

Total net assets

272,399

30,524,884–
537,189(40,793)(49,597)446,797(179,621)
272,399

30,345,263

Changes during period
Dividends of surplus(2,553,505)

Profit attributable to ownersof parent

2,921,798

Purchase of treasury shares(96,595)

Disposal of treasury shares

33,668Transfer of loss on disposalof treasury shares–

Net changes in items otherthan shareholders' equity(462,672)

346,508

23,539(92,623)

49,751(42,872)

Total changes during period(462,672)

346,508

23,539(92,623)

49,751

262,492

74,516

305,715(26,057)

354,173

322,150

30,607,755

Balance at end of period8

Fiscal year ended February 28, 2023
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,503,270

Retained earnings

1,388,470

Total shareholders'equityTreasury shares

27,104,944(65,253)

Cumulative effects ofchanges in accounting
policies
Restated balance

29,931,431–

1,503,270

1,388,470

27,104,944(65,253)

29,931,431

Changes during period
Dividends of surplus(2,553,262)(2,553,262)

Profit attributable to ownersof parent

2,538,631

2,538,631

Purchase of treasury shares
Disposal of treasury shares

756

(364)

(364)

32,91633,672

Transfer of loss on disposalof treasury shares–

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period–

756(14,631)

32,551

18,677

1,503,270

1,389,226

27,090,313(32,701)

29,950,108

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-for-salesecurities

Foreign currencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total accumulated
othercomprehensive
income74,516

305,715(26,057)

354,173

Cumulative effects ofchanges in accounting
policies
Restated balance

Non-controllinginterests

Total net assets

322,150

30,607,755–
74,516

305,715(26,057)

354,173–
322,150

30,607,755

Changes during period
Dividends of surplus(2,553,262)

Profit attributable to ownersof parent

2,538,631

Purchase of treasury shares(364)

Disposal of treasury shares

33,672

Transfer of loss on disposalof treasury shares–

Net changes in items otherthan shareholders' equity(20,539)271,706

16,076267,244

Total changes during period(20,539)271,706

16,076267,244

51,911

337,832

Balance at end of period

53,977

577,421(9,980)621,417374,061

30,945,588

9

51,911

319,155

Consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

February 28, 2022

February 28, 2023

4,469,626

3,927,337

1,494,512
393,177

1,580,205
197,750

Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts

68,538(455)

44,629(267)

Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability(10,677)
113,793

7,259
98,330

4,316

3,268

Interest and dividend income
Interest expenses(39,035)
14,888(13,843)
13,131

Loss (gain) on sale of non-current assets
Loss (gain) on sales of stores

5,706(70,962)

31,246(142,875)

Loss on retirement of non-current assets
Loss on valuation of shares of subsidiaries and associates

8,936
41,167

24,573
4,932

Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables(679,652)(101,155)–(451,091)

Decrease (increase) in inventories
Decrease (increase) in guarantee deposits(101,953)
168,596(44,401)
99,768

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes

64,688(15,742)

159,978
190,041

Increase (decrease) long-term guarantee deposits received
Other, net(91,270)
115,186(89,771)
87,160Depreciation
Impairment losses

Increase (decrease) in provision for shareholder benefit
program

Subtotal

5,852,229

5,727,363

Interest and dividends received
Interest paid

37,526(14,888)

10,024(13,131)

Income taxes paid

(636,604)(1,765,414)

Net cash provided by (used in) operating activities

5,238,263

3,958,842(171,641)
323,530(22,051)
184,130(15,998,490)
16,000,000(15,996,180)
16,000,000

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment(923,038)71(1,244,746)
107,729

Purchase of intangible assets
Payments for restorations due to closing of stores(446,113)(59,260)(151,990)(57,544)

Proceeds from sales of stores
Proceeds from sale of investment securities

116,430
692,113230,688––

17,626(466,399)(932,339)

Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of securities
Proceeds from redemption of securities

Other, net
Net cash provided by (used in) investing activities

10(Thousands of yen)
Fiscal year ended

Fiscal year ended

February 28, 2022

February 28, 2023

Cash flows from financing activities
Repayments of long-term borrowings(30,000)–

Purchase of treasury shares
Repayments of lease liabilities(96,595)(395,344)(364)(418,150)

Dividends paid
Dividends paid to non-controlling interests(2,552,300)(1,190)(2,551,266)–

Net cash provided by (used in) financing activities(3,075,431)(2,969,781)

Effect of exchange rate change on cash and cash equivalents

212,940

200,845

Net increase (decrease) in cash and cash equivalents

1,909,373

257,568

Cash and cash equivalents at beginning of period

15,511,182

17,420,555

Cash and cash equivalents at end of period

17,420,555

17,678,123

11