Values and Vision

Value Creation

Management Strategy

Sustainability

Governance

Data

Data

Consolidated Financial Statements

Consolidated Statement of Financial Position
J. Front Retailing Co., Ltd. and its consolidated subsidiaries
As of February 28, 2021, February 28, 2022, and February 28, 2023

Consolidated Statement of Profit or Loss andConsolidated Statement of Comprehensive Income
J. Front Retailing Co., Ltd. and its consolidated subsidiaries
Consolidated fiscal years ended February 28, 2022, and February 28, 2023

(Millions of yen)

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Right-of-use assets
Goodwill
Investment property
Intangible assets
Investments accounted for using equity method
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets
Liabilities and equity
Liabilities
Current liabilities
Bonds and borrowings
Trade and other payables
Lease liabilities
Other financial liabilities
Income taxes payable
Provisions
Other current liabilities
Total current liabilities
Non-current liabilities
Bonds and borrowings
Lease liabilities
Other financial liabilities
Retirement benefit liability
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShare capital
Capital surplus
Treasury shares
Other components of equity
Retained earnings
Total equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity

98

FY2020

FY2021

FY2022

128,925
113,414
5,841
20,684
4,739
273,605

93,278112,262
11,92912,4594,954
234,884

39,874
129,121
10,836
16,9325,094
201,860

493,644
157,819523
188,879
5,752
37,81586,8706,751
12,061
990,116
1,263,722

480,380
140,470523
189,688
7,289
38,761
79,977
8,209
12,721
958,022
1,192,907

469,401
119,501
995
187,247
7,797
41,402
79,711
3,137
9,897
919,092
1,120,953(Millions of yen)

Consolidated Statement of Profit or Loss
Revenue

Cost of sales
Gross profit

Selling, general and administrative expenses
Other operating income

Other operating expenses
Operating profit
Finance incomeFinance costs

Share of profit (loss) of investments accounted for using equity method
Profit before tax

Income tax expenses
ProfitProfit (loss) attributable to:
Owners of parent

Non-controlling interests
Profit145,151
121,937
29,79930,211
1,957
914
59,953389,926

108,152
116,107
28,55429,915
4,485
954
59,243
347,41363,530133,835
28,411
29,975
1,527
2,397
58,276
317,953214,779
173,085
39,237
19,781
10,53451,301
731
509,451
899,378

209,562
155,839
36,741
19,416
9,553
51,697563
483,373
830,787

185,593
136,414
35,29016,754
8,699
48,366
469
431,589
749,542

31,974
188,542(14,830)
9,578
136,906
352,171
12,171
364,343
1,263,722

31,974
188,894(14,780)
9,574
134,705
350,368
11,751
362,120
1,192,907

31,974
189,068(14,466)
10,654142,153359,385
12,025
371,410
1,120,953

Earnings per share

Basic earnings per share (Yen)

Diluted earnings per share (Yen)Consolidated Statement of Comprehensive Income
ProfitFY2021

FY2022(136,123)
11,068(13,406)
9,380(144,682)
4,540(10,336)
19,0591,335(5,890)
1,364
6,190

871
(5,218)2,161
16,873(2,225)
3,964(2,611)
14,262

4,321(356)
3,964

14,23725
14,262

16.50
16.50

54.32
54.30

FY2021
3,964

FY2022
14,262

(52)
1,632
136
1,716

823
1,176
(7)
1,992

(13)
151
(0)
136
1,853
5,818

(1)
144
4147
2,140
16,402

6,173
(355)
5,818

16,38418
16,402

331,484(183,642)
147,842359,679(190,142)
169,536

Other comprehensive income

Items that will not be reclassified to profit or loss

Financial assets measured at fair value through other comprehensive income

Remeasurements of defined benefit plans

Share of other comprehensive income of investments accounted for using equity method

Total of items that will not be reclassified to profit or loss
Items that may be reclassified to profit or loss
Cash flow hedges

Exchange differences on translation of foreign operations

Share of other comprehensive income of investments accounted for using equity method

Total of items that may be reclassified to profit or loss
Other comprehensive income, net of tax

Comprehensive income

Comprehensive income attributable to:
Owners of parent

Non-controlling interests
Comprehensive income99

Values and Vision

Value Creation

Management Strategy

Sustainability

Governance

DataData

Consolidated Financial Statements

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

J. Front Retailing Co., Ltd. and its consolidated subsidiaries

J. Front Retailing Co., Ltd. and its consolidated subsidiaries

Consolidated fiscal years ended February 28, 2022 and February 28, 2023

Consolidated fiscal years ended February 28, 2022 and February 28, 2023

(Millions of yen)

(Millions of yen)

Equity attributable to owners of parentOther components of equity

Balance at March 1, 2021
Profit (loss)
Other comprehensive income
Total comprehensive income
Purchase of treasury shares
Disposal of treasury shares
Dividends
Share-based payment transactions
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at February 28, 2022
ProfitOther comprehensive income
Total comprehensive income
Purchase of treasury shares
Disposal of treasury shares
Dividends
Obtaining of control of subsidiaries
Share-based payment transactions
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at February 28, 2023

SharecapitalCapitalsurplusTreasuryshares31,974
—
—
—
—
—
—
—
—
—
31,974
—
—
—
—
—
—
—
—
—
—
31,974

188,542
—
—
—
—
(0)
—
351
—
351
188,894
—
—
—
—
(0)
—
—
175
—
174
189,068(14,830)
—
—
—
(32)
0
—
81
—
49
(14,780)
—
—
—
(8)
1
—
—
322
—
314
(14,466)

Exchangedifferences ontranslation offoreign
operations

(89)
—
150
150
—
—
—
—
—
—
60
—
148
148
—
—
—
—
—
—
—
209

Cash flow
hedges

11
—
(13)
(13)
——
—
—
—
—
(1)
—
(1)
(1)
—
—
—
—
—
—
—
(2)

Financial assets
measured at fairvalue throughothercomprehensive
income

9,656
—
(53)
(53)
—
—
—
—
(86)
(86)
9,516
—
822
822
—
—
—
—
—
109
109
10,448Equity attributable to owners of parent
Other components of equity

Balance at March 1, 2021
Profit (loss)
Other comprehensive income
Total comprehensive income
Purchase of treasury shares
Disposal of treasury shares
Dividends
Share-based payment transactions
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at February 28, 2022
ProfitOther comprehensive income
Total comprehensive income
Purchase of treasury shares
Disposal of treasury shares
Dividends
Obtaining of control of subsidiaries
Share-based payment transactions
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at February 28, 2023

100

Remeasurementsof defined
benefit plans

—
—
1,769
1,769
—
—
—
—
(1,769)(1,769)
—
—
1,177
1,177
—
—
—
—
—
(1,177)(1,177)—

TotalRetainedearnings

9,578
—
1,852
1,852
—
—
——
(1,855)(1,855)
9,574
—
2,147
2,147
—
—
——
—
(1,067)(1,067)
10,654

136,906
4,321
—
4,321
—
—
(8,377)—
1,855(6,522)
134,705
14,237—
14,237——(7,857)——
1,067(6,789)142,153

Total

352,171
4,321
1,852
6,173
(32)
0(8,377)433—(7,976)350,368
14,237
2,147
16,384(8)
0(7,857)—497—(7,368)359,385

Noncontrollinginterests

12,171(356)
1(355)
—
—
(64)
—
—
(64)
11,751
25
(6)
18
—
—
(64)
319
——255
12,025

Total

364,343
3,964
1,853
5,818
(32)
0(8,442)433—(8,041)
362,120
14,2622,140
16,402(8)0(7,921)319
497—(7,113)
371,410

Cash flows from operating activities
Profit before tax
Depreciation and amortization
Impairment losses
Finance income
Finance costs
Share of loss (profit) of investments accounted for using equity method
Loss (gain) on sale of fixed assets
Loss on disposal of fixed assets
Gain on sale of shares of subsidiaries
Loss on sale of shares of subsidiaries
Decrease (increase) in inventories
Decrease (increase) in trade and other receivables
Increase (decrease) in trade and other payables
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
OtherSubtotal
Interest received
Dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of investment property
Proceeds from sale of investment property
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change in scope of consolidation
Proceeds from sale of shares of subsidiaries resulting in change in scope of consolidation
OtherNet cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Net increase (decrease) in commercial papers
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Redemption of bonds
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
Dividends paid to non–controlling interests
OtherNet cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents at end of period

FY2021

FY2022

6,190
49,6291,136(1,335)5,890(1,364)(2,666)
1,726(3,951)
1,818
5,904
(536)
(4,159)
(365)
(407)
228
57,737130
208(5,808)(4,548)2,147
49,866

16,873
49,1075,900(871)
5,218(2,161)
(771)
2,102
—
—(2,185)(16,898)
17,599(2,661)3,360
1,944
76,558123
170(5,172)(8,282)
2,083
65,480(5,820)492(2,601)
2,887(2,760)
2,503
—
3,479
(3,469)(5,289)(8,641)
190(3,043)
1,599(1,946)2,072(207)—(3,396)(13,371)—(54,998)—(17,150)
29,867—(29,674)(32)(8,348)(64)
8(80,392)(35,815)
128,925
168
93,278(24,000)(15,002)
5,500(15,150)—(20,000)(29,138)(9)(7,832)(64)
2(105,694)(53,585)
93,278181
39,874101