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, 2022
(Based on Japanese GAAP)
April 6, 2022
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 26, 2022

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

May 27, 2022
May 9, 2022

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, 2022 (from March 1, 2021 to February 28, 2022)(1) Consolidated operating results

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
1.8
2,855
11.6
4,168
34.3
2,921
68.3
(14.1)
2,559(50.8)
3,104(42.8)
1,736(46.7)Net salesYear ended February 28, 2022
Year ended February 28, 2021

Millions of yen
45,022
44,246

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%–9.7
9.9
6.3
–
5.7
7.2
5.8

Diluted earnings pershare

Earnings per share
Yen
91.55
54.39

Year ended February 28, 2022
Year ended February 28, 2021
(2) Consolidated financial position

Total assets
As of February 28, 2022
As of February 28, 2021

Net assets

Equity ratio

Millions of yen
42,467
41,374

Millions of yen
30,60730,524

Cash flows fromoperating activities
Millions of yen
5,238
889

Cash flows frominvesting activities
Millions of yen(466)(1,880)Net assets per share%
71.3
73.1

Yen
949.02
947.60(3) Consolidated cash flows

Year ended February 28, 2022
Year ended February 28, 2021

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(3,075)
17,420(2,927)
15,511

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended February 28, 2021
Year ended February 28, 2022
Year ending February 28, 2023
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

TotalYenYenYenYen

Yen

Millions of yen%%––

40.00
40.00

–
–

40.00
40.00

80.00
80.00

2,554
2,553

147.1
87.4

8.4
8.4

–

40.00

–

40.00

80.00

1

76.2

3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Net sales
Millions of yen
Six months ending
August 31, 2022
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

24,700

12.5

1,890

58.1

2,180

15.0

1,380(9.2)

43.24

51,800

15.1

4,730

65.6

5,140

23.3

3,350

14.7

104.97

4. Notes(1) Changes in significant subsidiaries during the year ended February 28, 2022
(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:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

YesNo

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, 2022

31,926,000 shares As of February 28, 2021

31,926,000 shares

Number of treasury shares at the end of the period
As of February 28, 2022

13,637 shares As of February 28, 2021

725 shares

Average number of shares during the period
Year ended February 28, 2022

31,913,481 shares Year ended February 28, 2021

231,925,315 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of February 28, 2021

As of February 28, 2022

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

15,801,173
2,560,97817,587,451
2,685,529

Merchandise and finished goods
Work in process

877,258
26,166

971,149
52,355

Raw materials and supplies
Other

243,727
784,736

234,843836,502

20,294,041

22,367,833

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

4,696,243
707,9034,652,471
692,365

Land
Leased assets, net

5,587,629
1,178,862

5,486,172
933,398

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

Other, net
Total property, plant and equipment

557,711576,106

12,728,350

12,340,514

736,280
334,679

1,000,514
267,775

Intangible assets
Software
Goodwill
Other

197,598

41,1201,268,558

1,309,410

Investment securities
Deferred tax assets

1,080,029
939,233

402,100
1,196,561

Guarantee deposits
Other

4,756,281
310,505

4,592,379
260,962

Total intangible assets
Investments and other assets

Allowance for doubtful accounts(2,876)(2,420)Total investments and other assets

7,083,173

6,449,582

21,080,082

20,099,507

41,374,124

42,467,340

Total non-current assets
Total assets3

(Thousands of yen)
As of February 28, 2021

As of February 28, 2022

Liabilities
Current liabilities
Accounts payable - trade

2,047,837

2,132,004

Accounts payable - other
Income taxes payable

1,348,698
206,556

1,399,125
1,107,443

Contract liabilities
Provision for bonuses–325,635

243,161
319,505

Provision for shareholder benefit program
Other

91,532681,204

95,848661,313

4,701,464

5,958,403

Total current liabilities
Non-current liabilities
Long-term borrowings

30,000–

Lease obligations
Retirement benefit liability

876,847995,204

603,018
1,075,141

Long-term guarantee deposits
Asset retirement obligations

3,721,997
465,184

3,630,726
542,229

Other

58,54050,064

6,147,774

5,901,180

10,849,239

11,859,584

Share capital
Capital surplus

1,503,270
1,388,470

1,503,270
1,388,470

Retained earnings
Treasury shares

26,916,521(2,574)

27,104,944(65,253)

Total shareholders' equity

29,805,687

29,931,431

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

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

537,189

74,516

Foreign currency translation adjustment
Remeasurements of defined benefit plans(40,793)(49,597)

305,715(26,057)

Total accumulated other comprehensive income

446,797354,173272,399

322,150

30,524,884

30,607,755

41,374,124

42,467,340

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, 2021

Fiscal year ended
February 28, 2022

Net sales

44,246,721

45,022,168

Cost of sales

23,752,372

24,070,804

Gross profit

20,494,349

20,951,363

Freight and packing costs
Provision of allowance for doubtful accounts

2,209,128(271)

2,222,775(455)

Remuneration for directors (and other officers)
Salaries and allowances

333,099
3,864,230

274,886
3,913,755

233,006
291,903

211,136
277,2832,505,794
121,1392,207,070
122,910

Legal welfare expenses
Provision for shareholder benefit program

698,468
83,554780,135
89,185

Utilities expenses
Supplies expenses

579,878
796,565

547,325
822,138

Depreciation
Amortization of goodwill

934,532
21,912

1,038,378
68,538Rent expenses
Other

2,157,476
3,104,896

2,144,779
3,375,924

Total selling, general and administrative expenses

17,935,315

18,095,768

2,559,034

2,855,594

Interest and dividend income
Rental income from buildings

25,194788,215

39,035
848,880

Subsidy income
Other

119,515
283,616

1,025,856
180,283

1,216,542

2,094,056

Selling, general and administrative expenses

Bonuses
Provision for bonuses
Other salaries
Retirement benefit expenses

Operating profit
Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses

16,674

14,888

Rental expenses
Other

631,578
22,773

689,547
77,215

Total non-operating expenses

671,026

781,651

3,104,550

4,168,000

Ordinary profit
Extraordinary income
Gain on sale of investment securities–679,652

Gain on sales of stores
Other

133,9902,247

73,864–

Total extraordinary income

136,237

753,5165

(Thousands of yen)

Extraordinary losses
Loss on retirement of non-current assets

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

30,5198,936

Impairment losses
Loss on valuation of shares of subsidiaries and associates

476,690–

393,177
41,167

Other

22,754

8,608

529,964

451,889

Profit before income taxes

Total extraordinary losses

2,710,823

4,469,626

Income taxes - current
Income taxes - deferred

939,920
27,5791,504,958
24,209967,500

1,529,168

1,743,322

2,940,458

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

6

6,980

18,6601,736,341

2,921,798

Consolidated statements of comprehensive income(Thousands of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

1,743,322

2,940,458

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

342,188(49,461)(462,672)
378,790

Remeasurements of defined benefit plans, net of tax

21,57323,539314,300(60,342)Comprehensive income

Total other comprehensive income

2,057,622

2,880,116

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,059,113

2,829,174(1,490)50,942Comprehensive income attributable to non-controllinginterests

7

Consolidated statements of changes in equity
Fiscal year ended February 28, 2021
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,503,270

Retained earnings

1,388,470

Total shareholders'equity

Treasury shares

27,734,206(2,048)30,623,897

Changes during period
Dividends of surplus(2,554,026)(2,554,026)

Profit attributable to ownersof parent

1,736,341

1,736,341

Purchase of treasury shares

(525)

(525)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period––(817,684)(525)(818,210)

1,503,270

1,388,470

26,916,521(2,574)29,805,687

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-for-salesecuritiesForeign currencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total accumulated
othercomprehensive
income195,000

196(71,171)

124,026

Non-controllinginterests

Total net assets

275,494

31,023,417

Changes during period
Dividends of surplus(2,554,026)

Profit attributable to ownersof parent

1,736,341

Purchase of treasury shares(525)

Net changes in items otherthan shareholders' equity

342,188(40,990)

21,573322,771(3,094)

319,676

Total changes during period

342,188(40,990)

21,573322,771(3,094)(498,533)

Balance at end of period

537,189(40,793)(49,597)446,797272,399

30,524,884

8

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'equity

Treasury 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(96,595)(96,595)

33,916

33,668

Disposal of treasury shares(248)

Transfer of loss on disposalof treasury shares

248

(248)

––

368,044(62,678)

305,365

1,503,270

1,388,470

27,104,944(65,253)

29,931,431–

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

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

Non-controllinginterests

Total net assets

272,399

30,524,884

Cumulative effects ofchanges in accounting
policies
Restated balance(179,621)
537,189(40,793)(49,597)446,797272,399

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

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 period

23,5399(92,623)

49,751(42,872)

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, 2021

February 28, 2022

2,710,8234,469,626

1,393,003
476,690

1,494,512
393,177

21,912(1,039)68,538(455)(160,114)
112,880(10,677)
113,793

5,464

4,316

Interest and dividend income
Interest expenses(25,194)
16,674(39,035)
14,888Loss (gain) on sale of non-current assets
Loss (gain) on sales of stores(541)(133,990)

5,706(70,962)

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

30,519–8,936
41,167

Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables–447,562(679,652)(101,155)

Decrease (increase) in inventories
Decrease (increase) in guarantee deposits(67,736)(13,853)(101,953)
168,596

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes(448,392)(94,178)

64,688(15,742)

Increase (decrease) long-term guarantee deposits received
Other, net(1,540,676)(74,647)(91,270)
115,186

Subtotal

2,655,167

5,852,229

18,123(16,674)

37,526(14,888)(1,767,150)(636,604)

889,465

5,238,263(291,925)
291,920(171,641)
323,530

Purchase of securities
Proceeds from redemption of securities(18,992,928)
19,000,000(15,998,490)
16,000,000

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment(1,287,698)
5,242(923,038)
71

Purchase of intangible assets
Payments for restorations due to closing of stores(539,171)(43,844)(446,113)(59,260)

Proceeds from sales of stores
Proceeds from sale of investment securities

301,131–

116,430
692,113Purchase of shares of subsidiaries resulting in change in scopeof consolidation(323,216)–(1,880,490)(466,399)

Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for shareholder benefit
programInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits

Net cash provided by (used in) investing activities

10(Thousands of yen)

Cash flows from financing activities
Repayments of long-term borrowings

Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022–

(30,000)(525)(366,226)(96,595)(395,344)

Dividends paid
Dividends paid to non-controlling interests(2,559,246)(1,604)(2,552,300)(1,190)Net cash provided by (used in) financing activities(2,927,602)(3,075,431)

Purchase of treasury shares
Repayments of lease obligations

Effect of exchange rate change on cash and cash equivalents(27,885)

212,940

Net increase (decrease) in cash and cash equivalents(3,946,513)

1,909,373

Cash and cash equivalents at beginning of period

19,457,695

15,511,182

Cash and cash equivalents at end of period

15,511,182

17,420,555

11