Summary Report of Consolidated Financial Results
For the Third Quarter Ended March 31, 2024

(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)
Pan Pacific International Holdings Corporation
Securities Code No.: 7532
Shares Listed:Tokyo Stock Exchange
Address:
Dogenzaka-dori 8F 2-25-12 Dogenzaka, Shibuya-ku, Tokyo
Representative:
Naoki Yoshida, President and CEO, Representative Director
Contact:
Yuji Ishii, Director, Managing Executive Officer and CAO (Phone:+81-3-6416-0418)
URL:
https://ppih.co.jp/(Amounts in million yen are rounded off to the nearest million)
1. Overview of Business Results and Financial Position for the third quarter of fiscal 2024 (From July 1, 2023 to March 31,2024)(1) Results of Business Operations(Millions of yen, except per-share data)
ProfitChange Operating
ChangeOrdinary
ChangeAttributable
ChangeNet Sales(%)(%)
Income(%)
Income(%)
to Owners ofParent
Nine Months
Ended March 31,
1,567,374
7.6
110,26834.9
113,58840.8
72,08140.0
2024
Nine Months
6.3
81,71329.5
80,69519.2
51,48912.0
Ended March 31,
1,457,2042022(Note) Comprehensive income: 75,634 million yen [30.7％] (FY 2024.6 3Q), 57,867 million yen [26.4%] (FY 2023.6 3Q)

Nine Months Ended
March 31, 2024
Nine Months Ended
March 31, 2023

Net Income Per Share(Yen)Net Income Per Share-fully diluted (Yen)

120.80120.38

86.33

86.12

(2) Financial Position

Ratio of Shareholder’s Equity
to Total Assets(%)
As of March 31, 2024
1,454,155
527,761
35.5
June 30, 2023
1,481,058
463,53930.6(Reference) Equity: 516,547 million yen (as of March 31, 2024), 453,261 million yen (as of June 30, 2023)
Total Assets

2. Dividends

Year Ended June 30,2023
Year Ending June 30,2024
Year Ending June 30,2024 (Forecast)Three Months Endof September 30

Net assets

Annual Dividends per share
Six Months End ofNine Months End of
December 31
March 31

－

4.00

－－

5.00

－Year Endof June 30

Total

16.00

20.00

16.00

21.00

(Note) Revision to the dividend forecast in the Third quarter of fiscal 2024: None

3. Consolidated Business Forecast：For the year ending June 30, 2024 (From July 1, 2023 to June 30, 2024)(Millions of yen, except per-share data)
Net Sales

Change(%)

Operating
IncomeChange(%)

Ordinary
IncomeChange(%)

Year Ending
2,086,000
7.7
135,000
28.3
139,000
25.2
June 30, 2024
(Note) Revision to the business forecast in the Third quarter of fiscal 2024: Yes

ProfitAttributableto Owners ofParentChange(%)

Net
Income perShare(Yen)80,00020.9

134.06For information on the revision to the consolidated business forecast, please refer to the “Notice of Revisions to Full-Year
Consolidated Business Forecast” released today (May 13, 2024).

14. Others(1) Significant changes in the scope of consolidation: None
Newly consolidated: － , Excluded: －(2) Simplified accounting methods and special accounting methods for preparation of the quarterly consolidated financial
statements: None
(3) Changes in accounting policies concerning preparation of consolidated financial statements① Changes in line with revision to accounting standards: None
② Other changes: None
③ Changes in accounting estimates: None
④ Restatement: None
(4) Number of outstanding shares (Common shares)① Number of outstanding shares (Treasury shares included)
March 31, 2024
June 30, 2023
② Number of treasury shares
March 31, 2024
June 30, 2023
③ Average number of outstanding shares during the period
March 31, 2024
March 31, 2023

634,905,740 shares
634,666,240 shares
38,073,252 shares
38,073,224 shares
596,713,187 shares
596,410,850 shares※This financial summary is not subject to audit conducted by certified public accountants or an audit corporation.
※Explanation regarding the appropriate use of forecasts of business results
The financial forecasts of business results are based on judgments and estimates that have been made using currently
available information. By nature, such financial forecasts are subject to uncertainties and risks. Therefore, actual
results might be significantly different from the aforementioned forecasts for a variety of reasons, including changes
in economic environments related to our business, market trends and foreign currency exchange rates.
※The Company plans to hold a financial result briefing for security analysts and institutional investors on May 13, 2024.
Presentation materials for the briefing will be available on the Company’s website.

2Consolidated Quarterly Balance Sheets(Millions of yen)

AssetsCurrent assets

Cash and deposits

As of June 30,

As of March 31,

2023

2024

AmountAmount¥242,088¥165,914

Notes and accounts receivables-trade

13,782

17,224

Accounts receivables - installment

55,35058,690Operating loans

9,047

9,423

Merchandise and finished goods

194,537

192,089

Prepaid expenses

8,629

8,352

Deposits paid

5,357

15,384

Other

25,541

33,116

Allowance for doubtful accounts(2,496)(2,987)

Total current assets

551,836497,205

Buildings and structures, net

287,975

292,722

Tools, furniture and fixtures, net

35,02738,039Land

318,721334,447

Construction in progress

15,532

19,611

Right of use assets, net

30,561

31,429Other, net

1,393

1,527

689,209717,774

Goodwill

61,00260,110Other

27,52830,364

Total intangible assets

88,53090,47434,643

34,662

Non-current assets

Property, plant and equipment

Total property, plant and equipment
Intangible assets

Investments and other assets
Investment securities
Long-term prepaid expenses

4,370

4,392

Retirement benefit asset

17,806

17,900

Deferred tax assets

20,686

19,473

Lease and guarantee deposits

71,84569,953

Other

3,476

3,709

Allowance for doubtful accounts(1,342)(1,388)

Total investments and other assets

151,484

148,701

929,222956,949¥1,481,058¥1,454,155

Total non-current assets

Total assets3

(Millions of yen)

Liabilities
Current liabilities

Notes and accounts payables - trade

As of June 30,

As of March 31,

2023

2024

AmountAmount¥168,661¥194,523

Current portion of long-term loan payables

34,364

18,493Current portion of bonds

10,930650

Accounts payables – other49,47552,578

Lease obligations

2,263

2,443

Accrued expenses

26,991

24,202

Deposits received

14,012

17,158

Income taxes payables

23,16919,226

Provision for point card certificates

1,962

1,338

Contract liabilities

20,83815,611Other

15,75618,138

Total current liabilities

368,422364,360

Bond payables

261,625

191,075

Long-term loan payables

272,499

255,793

Lease obligations

31,036

31,242

Asset retirement obligations

30,83531,409Other

53,10152,514

Total non-current liabilities

649,097562,034

1,017,519

926,393Share capital

23,351

23,480Capital surplus

17,50917,602Retained earnings

483,366

542,917

Treasury shares(80,956)(80,956)

Total shareholders' equity

443,270503,043

Non-current liabilities

Total liabilities

Net assets

Shareholders' equity

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

1,690

1,747

Foreign currency translation adjustment

7,797

11,273Remeasurements of defined benefit plans

503

484

9,991

13,504

Share acquisition rights

771

1,278

Non-controlling interests

9,507

9,936

463,539527,761¥1,481,058¥1,454,155

Total accumulated other comprehensive income

Total net assets
Total liabilities and net assets

4Consolidated Quarterly Statements of Income
Nine months ended
March 31, 2023
Amount(Millions of yen)
Nine months ended
March 31, 2024
AmountNet sales¥1,457,204¥1,567,374

Cost of sales

1,006,717

1,073,675

450,487493,699368,774

383,430

81,713

110,268

673

809

Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividend income
Share of profit of affiliates accounted for using equity
methodPenalty income
Foreign exchange gains
Other
Total non-operating income

468

476

201
17
3,580
4,939

946
4,347
3,009
9,589

Non-operating expenses
Interest expenses paid on loans and bonds
Other
Total non-operating expenses
Ordinary profit

5,709
248
5,957
80,695

5,422
848
6,269
113,588

12－
3
31
4612
353
－
70
435

738
627
38
271
1,673
79,067

1,020
2,061
734
44
3,860
110,164

25,635
1,490
27,12451,943454

36,076
1,945
38,02072,14362¥ 51,489¥72,081

Extraordinary income
Gain on sales of non-current assets
Compensation income
Reversal of provision for environmental measures
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on closing of stores
Loss on disaster
Other
Total extraordinary losses
Profit before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated Quarterly Statements of Comprehensive Income

ProfitNine months ended
March 31, 2023

(Millions of yen)
Nine months ended
March 31, 2024

AmountAmount¥51,943¥72,143

835

(333)

5,125

3,783

(31)

(37)

(6)

78

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income
Comprehensive income

5,924

3,491

¥57,867¥75,634¥57,049¥75,594

818

41

Comprehensive income attributable to：Owners of parent
Non-controlling interests

6Consolidated Quarterly Statements of Cash Flows

Cash flows from operating activities:
Profit before income taxes
Depreciation
Decrease in provisions
Interest and dividend income
Interest expenses paid on loans and bonds
Foreign exchange gains
Share of profit of affiliates accounted for using equity method
Loss on sale and retirement of non-current assets
Loss on store closings
Increase in notes and accounts receivables – trade
Decrease in inventories
Increase in notes and accounts payables – trade
Increase in accounts receivables – installment
Increase in accounts payables – other
Increase in deposits received
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Payments for loss on disaster
Dividends received from affiliates accounted for using equity method
Net cash provided by operating activities
Cash flows from investing activities:
Payments for purchase of property, plant and equipment
Payments for purchase of intangible assets
Payments for purchase of shares of subsidiaries and affiliates
Payments for leasehold and guarantee deposits
Proceeds from collection of leasehold and guarantee deposits
Payments for store opening in progress
Other, net
Net cash used in investing activities

7

Nine months ended
March 31, 2023
Amount(Millions of yen)
Nine months ended
March 31, 2024
Amount¥79,067
31,199(2,587)
(673)
5,709
(17)
(468)
734
627
(1,766)
14,5667,700(2,379)
1,304
2,431
1,033
136,480619(5,338)(28,433)
575
(91)
53
103,864¥110,164
33,787(1,506)(809)
5,422(4,347)
(476)
1,011
2,061
(3,311)
3,771
24,805(3,466)
5,480
3,135(15,657)
160,063614(5,912)(44,347)
3,284
(197)
73
113,576(40,463)(6,592)(3,386)
(786)
652
(405)
(13)
¥(50,992)(54,274)(5,600)－(330)
1,525
(713)
10
¥(59,382)

Cash flows from financing activities:
Proceeds from long-term loan payables
Repayments of long-term loan payables
Proceeds from issuance of bonds
Redemption of bonds
Cash dividends paid
Proceeds from share issuance to non-controlling interests
Purchase of shares of subsidiaries not resulting in change in scope ofconsolidation
Other, net
Net cash used in financing activities
Effect of foreign exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of period
Decrease in cash and cash equivalents resulting
from exclusion of subsidiaries in consolidation
Increase in cash and cash equivalents resulting from merger withunconsolidated subsidiaries
Cash and cash equivalents at the end of period

8

Nine months ended
March 31, 2023
Amount(Millions of yen)
Nine months ended
March 31, 2024
Amount¥30,000(25,593)－(11,421)(10,734)－¥50,000(83,027)
69,789(150,930)(12,529)407(2,239)－(922)(20,909)
1,212
33,176
180,418(1,375)(127,664)
6,971(66,499)
246,195(1,852)－

104－¥211,845¥179,695

Segment Information

For the Third Quarter Ended March 31, 2023
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment

Adjustment

Consolidated¥1,457,204¥－¥1,457,204

103

8,233

(8,233)－

177,509

62,021

1,465,438(8,233)

1,457,204¥5,598¥1,861¥81,713¥－¥81,713

DomesticBusinessNorth Americabusiness¥1,217,778¥177,509¥61,918

8,130－Total

1,225,908

Segment income¥74,255

Sales, Segment income
Sales
Sales to third parties
Intersegment sales

Asiabusiness

Total

Note: Segment income is adjusted to the quarterly consolidated operating income.
For the Third Quarter Ended March 31, 2024
1. Information concerning sales and income by reporting segment(Millions of yen)
Reporting segment

Adjustment

Consolidated¥1,567,374¥－¥1,567,374

70

9,574

(9,574)－185,038

61,7191,576,947(9,574)

1,567,374¥3,535¥229¥110,268¥－¥110,268

DomesticBusinessNorth Americabusiness¥1,320,687¥185,038¥61,649

9,504

－

Total

1,330,191

Segment income¥106,504

Sales, Segment income
Sales
Sales to third parties
Intersegment sales

Asiabusiness

Total

Note: Segment income is adjusted to the quarterly consolidated operating income.

9