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 14, 2022
Company name:
IDOM Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

7599
President

URL

https://221616.com
Yusuke Hatori

Inquiries:
General Manager, Finance & IR Division
Scheduled date of ordinary general meeting of shareholders:

Masayuki Matsumoto
May 27, 2022

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

May 30, 2022
May 30, 2022

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

Yes
Yes

TEL

03-5208-5503(for analysts and institutional investors)(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
Net salesYear ended February 28, 2022
Year ended February 28, 2021

Operating profit

Millions of yen
459,532
380,564

%
20.8
5.2

Millions of yen
18,485
10,571

Earnings per share

Diluted earnings per
share

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen
%
%
%
–
22.0
9.6
4.0
–
3.4
5.3
2.8

Yen
107.51
14.77

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

%
74.9
16.3

Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
owners of parent
Millions of yen% Millions of yen%
17,561
82.1
10,794 627.0
9,642
40.4
1,484
(58.1)(2) Consolidated financial position
Total assets
As of February 28, 2022
As of February 28, 2021

Net assets

Equity ratio

Millions of yen
189,766
177,222

Millions of yen
55,70945,015

Cash flows fromoperating activities
Millions of yen
8,276
19,508Cash flows frominvesting activities
Millions of yen(4,500)(1,373)

Net assets per share
%
28.5
24.8

Yen
537.97438.18(3) Consolidated cash flows

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

Cash flows from
Cash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen(1,332)
45,670(12,495)
43,1792. 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)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

–
–

5.30
2.30

–
–

5.30
2.30

10.60
4.60

1,064
461

71.8
4.3

2.5
0.9

–

16.20

–

16.20

32.40

1

28.0

3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
206,800
(9.2)
8,600
(8.9)
8,150
(9.6)
7,200
35.5
71.71
August 31, 2022
Full year
366,800 (20.2)
15,500 (16.1)
14,800 (15.7)
11,6007.5
115.53
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:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(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

106,888,000 shares As of February 28, 2021

106,888,000 shares

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

6,480,641 shares As of February 28, 2021

6,480,601 shares

100,407,380 shares Year ended February 28, 2021

100,530,711 shares

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

2

1. Overview of Operating Results, Etc.
(1) Analysis of operating results
In the fiscal year under review (March 1 to February 28, 2022), retail unit sales at directly managed stores in Japan were140,119 (up 2.0% year on year), a record high for retail unit sales since the Company was founded. This result was
primarily attributable to the start of operations of large stores that had opened in the previous fiscal year and the fiscal year
under review and an increase in the number of visitors to existing stores, including large stores, achieved through theeffective placement of advertisements.
At Buick Holdings, an Australian subsidiary in Western Australia, the number of new cars sold increased in response to
growth in the Western Australian market attributable to an increase in the price of iron ore. In addition, sales of used carsremained strong due to the effect of ongoing measures to boost sales. Also, with the yen continuing to weaken from the yearago level against the Australian dollar, the Australian subsidiary recorded increases in both sales and profit.
Selling, general, and administrative expenses increased on a consolidated basis as a reaction to the transfer of part of selling,
general, and administrative expenses to an extraordinary loss posted as a loss on COVID-19 due to the receipt of a subsidy
in the previous fiscal year, coupled with the impact of a weakened yen. In contrast, even in a situation where retail unit sales
hit a record high, individual advertising expense items decreased owing to an improvement in the efficiency of internetbased customer attraction efforts.
Major factors in extraordinary losses include the following three factors.
1. The Company posted a total of 870 million yen as head office relocation expenses for moving out of the former location,
which included the balance of unamortized non-current assets at the former head office and the cost of office restoration toits original condition.
2. Given its withdrawal from the domestic new car dealer business, the Company posted a loss on sale of shares of a
subsidiary operating a new car dealer, which amounted to 276 million yen, as a loss on sale of shares of subsidiaries andassociates.
3. The Company posted loss on retirement of non-current assets of 378 million yen due to the closure of directly managed
stores.
As a result of the above, the consolidated business results for the fiscal year under review were net sales of 459,532
million yen (up 20.8% year on year), operating profit of 18,485 million yen (up 74.9%), ordinary profit of 17,561 million
yen (up 82.1%) and profit attributable to owners of parent of 10,794 million yen (up 627.0%).
Regional segment-specific earnings are as indicated below:
I. JapanThe results of the Japan segment were net sales of 318,135 million yen (up 9.5% year on year) and segment profit(operating profit) of 13,771 million yen (up 65.6% year on year). Retail unit sales per directly managed store increased due
primarily to the opening of large stores with high capital efficiency.
II. Australia
The Australia segment recorded net sales of 139,364 million yen (up 57.8% year on year) and segment profit (operating
profit) of 4,935 million yen (up 64.6% year on year), a record high. In addition to an increase in the number of new cars soldat Buick Holdings in Western Australia in response to growth in the Western Australian market based on an increase in theprice of iron ore, sales of used cars remained strong thanks to ongoing measures to boost sales. Also, with the yen continuing
to weaken from the year-ago level against the Australian dollar, the segment recorded an increase in sales and profit.
Outlook for the Next Fiscal YearThe forecasts for the next fiscal year are based on the following assumptions.
1) Non-consolidated and Japan Segment
The increase in wholesale gross profit due to the surge in used car auction market prices following the delay in the supply of
new cars in the fiscal year under review will not occur in the next fiscal year, and is assumed to be a factor of approximately
1,000 million yen in the decrease in profit. In addition, the adoption of the new Revenue Recognition Standard (deferral ofrevenue to the next fiscal year and beyond) is expected to have a negative impact of approximately 900 million yen.
However, operating income is expected to remain at the same level as in the fiscal year under review, reflecting a rise inprofit due to an anticipated increase in retail unit sales resulting from large store openings with an emphasis on capitalefficiency.
The Company expects that the effect of COVID-19 on the number of visitors to the directly managed stores will be minor
and insignificant as in the fiscal year under review.
2) Australia Segment
At a meeting of the Board of Directors held today (April 14, 2022), the Company decided to transfer all shares of its
consolidated subsidiaries IDOM Automotive Group Pty Ltd. and Gulliver Australia Pty Ltd. The Company's consolidated
3

financial results reflect the results of IDOM Automotive Group Pty Ltd. and Gulliver Australia Pty Ltd. for the period fromMarch 1 until the end of February of the next year. The date of the share transfer has not been decided yet. Therefore, basedon the assumption that the share transfer will take place at the end of June, the consolidated results forecasts for the next
fiscal year (fiscal year ending February 28, 2023) reflect the two companies' presumed profitability for the four-month
period from March until June. Consequently, due to factors adversely affecting both sales and profit, the Company expects
that net sales, operating profit and ordinary profit will decrease by approximately 85,000 million yen, 3,000 million yen and
2,800 million yen year on year.
Meanwhile, as a result of the share transfer, the Company expects to post a gain on sales of shares of subsidiaries andassociates of approximately 800 million yen for the consolidated results and approximately 2,900 million yen for the nonconsolidated results as extraordinary income for the first six month-period of the next fiscal year.
For details, please see the Notice of Share Transfer of Consolidated Subsidiaries and Posting of Extraordinary Incomeannounced today (April 14, 2022).
* The above estimated amounts are calculated at this time and are subject to change depending on the Australian dollar
exchange rate and other factors.
(2) Analysis of financial position
Status of assets, liabilities and net assets(Assets)
As of the end of the fiscal year under review, total assets stood at 189,766 million yen (up 7.1% compared to the end of theprevious fiscal year).
Current assets were 141,146 million yen (up 11.5% compared to the end of the previous fiscal year), mainly reflecting an
increase in cash and deposits (up 2,491 million yen) and an increase in merchandise (up 12,450 million yen).
Non-current assets were 48,620 million yen (down 3.9% compared to the end of the previous fiscal year) chiefly due to anincrease in construction in progress (up 961 million yen), while decreases in goodwill (down 1,703 million yen) andleasehold and guarantee deposits (down 1,430 million yen).
(Liabilities)
As of the end of the fiscal year under review, total liabilities were 134,057 million yen (up 1.4% compared to the end of
the previous fiscal year).
Current liabilities were 61,085 million yen (up 28.5% compared to the end of the previous fiscal year), mainly reflecting
increases in accounts payable trade (up 2,678 million yen), income taxes payable (up 1,907 million yen), current portion oflong term borrowings (up 9,657 million yen).
Non-current liabilities were 72,972 million yen (down 13.8% compared to the end of the previous fiscal year) due to a fallin long-term borrowings (down 11,645 million yen), among other factors.
(Net assets)
As of the end of the fiscal year under review, total net assets amounted to 55,709 million yen (up 23.8% compared to theend of the previous fiscal year), largely due to an increase in retained earnings (up 10,007 million yen).
Status of cash flows
Cash and cash equivalents (hereinafter, "cash") for the fiscal year under review were 45,670 million yen, an increase of
2,491 million yen (up 5.8%) compared to the end of the previous fiscal year.
The status of cash flows for FY2022 and respective relevant cash flows are as follows.
(Cash flows from operating activities)
Net cash provided by operating activities was 8,276 million yen.
This was mainly attributable to profit before income taxes of 15,750 million yen and depreciation of 2,797 million yen andan increase in inventories of 13,978 million yen and a decrease in trade receivables of 3,083 million yen.
(Cash flows from investing activities)
Net cash used in investing activities was 4,500 million yen.
This mainly reflected 4,961 million yen used for purchase of property, plant and equipment, and 681 million yen used for
payments for asset retirement obligations, while 1,350 million yen was provided by proceeds from refund of leasehold andguarantee deposits.
(Cash flows from financing activities)
Net cash used in financing activities was 1,332 million yen.
This was mainly attributable to repayments of long-term borrowings of 1,932 million yen.

4

(Reference) Changes in cash flow indicators
FY2018FY2019FY2020

FY2021

FY2022Equity ratio (%)

31.4

22.9

22.9

24.8

28.5

Shareholders' equity (markto-market) ratio (%)

55.8

21.9

28.3

35.1

34.8

Debt redemption years

7.7

－

6.7

4.1

9.5

Interest coverage ratio

10.1

－

10.2

18.6

9.0

Notes:
1. Breakdown of each indicator
Equity ratio = Shareholders' equity/Total assets
Shareholders’ equity (mark-to-market) ratio = Market capitalization/Total assets
Debt redemption years = Interest bearing debt/Operating cash flow
Interest coverage ratio = Operating cash flow/Interest payments
2. Each index is calculated from consolidated figures.
3. Market capitalization is calculated using the following formula: closing share price at period-end x number ofshares issued (excluding treasury stock)
4. Debt redemption years and interest coverage ratio for FY2019 are not shown in the above table due
to a negative figure for operating cash flow.
(3) Basic Policy on Profit Distribution and Dividends for Fiscal Years Ended February 2022 and Ending February 2023
(i) Basic policy on dividends and targets
The Company's basic policy on dividends is to pay performance-based dividends. The Company will decide on dividends
based on consolidated results. Total dividends will be 30% of consolidated net profit (profit attributable to owners of parent)in the previous fiscal year. Dividends per share are determined accordingly.
(ii) Dividends for the fiscal year under review
Under the policy above, annual dividends per share for the fiscal year under review will be 4.60 yen (2.30 yen at the end of
the first half and 2.30 yen at the end of the fiscal year).
(iii) Dividends for next fiscal year
Based on the above, the Company has calculated dividends per share (forecast) for the next fiscal year based on profit
attributable to owners of parent in the fiscal year under review. It is planned that annual dividends per share for the next
fiscal year will be 32.40 yen (16.20 yen at the end of the first half and 16.20 yen at the end of the fiscal year).

2. Basic Policy for the Selection of Accounting Standards
In light of the convergence of Japanese GAAP and IFRS, the Group intends to create financial statements using Japanese
GAAP for the time being.

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

As of February 28, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade43,1796,875

45,6705,620

Merchandise
Other

72,913
3,966

85,363
4,907

(328)

(416)

126,605

141,146

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

36,91837,102

Accumulated depreciation(16,411)(16,061)

Buildings and structures, net

20,50721,040153

298

VehiclesAccumulated depreciation

(32)

(60)

Vehicles, net

121

238

Tools, furniture and fixtures

4,335

4,279

Accumulated depreciation(3,606)(3,114)

729

1,164

Tools, furniture and fixtures, net
Land

218

136

Construction in progress

121

1,083

21,697

23,663

Software
Goodwill

1,717
7,698

1,465
5,995

Other

4,996

4,314

Total intangible assets

14,412

11,775Investment securities
Shares of subsidiaries and associates

139
131

20
129

Long-term loans receivable
Leasehold and guarantee deposits

30
5,835

228
4,405

Construction assistance fund receivables
Deferred tax assets

4,614
3,253

4,289
3,677

Other
Allowance for doubtful accounts

544
(43)

438
(8)

Total investments and other assets

14,506

13,181

50,616

48,620177,222

189,766

Total property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets

6

(Millions of yen)
As of February 28, 2021

As of February 28, 2022

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings

20,9401,117

23,618
1,101

Current portion of long-term borrowings
Accounts payable - other

342
4,586

10,000
4,713

Income taxes payable
Advances received

2,052
9,010

3,960
9,548

Deposits received
Provision for bonuses

205
1,167

215
1,965

737
715

884
1,327

Other

6,658

3,750

Total current liabilities

47,53461,085Long-term borrowings
Long-term guarantee deposits

79,169506

67,523587

Asset retirement obligations
Deferred tax liabilities

2,546
1,616

2,236
1,535

584
249

680
407

Provision for merchandise warranties
Other provisions

Non-current liabilities

Other provisions
Other
Total non-current liabilities

84,672

72,972132,206

134,057

Share capital
Capital surplus

4,157
4,384

4,157
4,361

Retained earnings
Treasury shares

39,665(4,344)

49,673(4,344)

Total shareholders' equity

43,862

53,847

134

168

134

168

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests

1,018

1,693

Total net assets

45,01555,709177,222

189,766

Total liabilities and net assets

7

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

Net sales
Cost of sales

380,564
307,754459,532
373,519

Gross profit

72,81086,013

Selling, general and administrative expenses

62,23967,528Operating profit

10,571

18,485Interest income
Subsidy income

40
–

31
54

Foreign exchange gains
Other

114
105

–
106

Total non-operating income

260

191

1,040

917

–
56

72
92

Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of property, plant and equipment

91

32

1,189

1,115

9,642

17,561

–

23

1,737
–

5
25

3
7

–
5

1,747

59

346

378

–
–

109
276

Impairment losses
Loss on store closings

4,486
114

114
82

Loss on COVIT19
Head office relocation expenses

1,821
–

4
870

98

32

6,866

1,870

Profit before income taxes

4,524

15,750

Income taxes - current

3,002

4,836

Subsidy income
Compensation income
Gain on reversal of share acquisition rights
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Loss on sale of shares of subsidiaries and associates

Other
Total extraordinary losses

Income taxes - deferred

(398)

(516)

Total income taxes

2,603

4,319

Profit1,920

11,430

435

635

1,484

10,794

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

8

Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

Profit1,920

11,430

Other comprehensive income
Foreign currency translation adjustment

1,249

(7)

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

(148)

58

Total other comprehensive income

1,101

50

Comprehensive income

3,021

11,481

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,475

10,829545

651

Comprehensive income attributable to non-controllinginterests

Consolidated statements of changes in equity
Fiscal year ended February 29, 2020
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

4,157

Retained earnings

4,032

Total shareholders'equityTreasury shares

35,842(3,947)40,084

Changes during period
Dividends of surplus

(618)

(618)

Profit attributable to owners ofparent

3,545

3,545

Purchase of treasury shares(0)Change in scope of consolidation

(0)

4

4

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

–

–

2,931

(0)

2,931

4,157

4,032

38,773(3,947)43,016

Accumulated other comprehensive income
Total accumulated
Foreign currency
other comprehensive
translation adjustment
incomeBalance at beginning of period

(243)

(243)

Share acquisitionrightsNon-controllinginterests
3

512

Total net assets

40,357

Changes during period
Dividends of surplus(618)

Profit attributable to owners ofparent3,545

Purchase of treasury shares(0)Change in scope of consolidation

4

Net changes in items other thanshareholders' equity

(645)

(645)

–

(56)

(701)

Total changes during period

(645)

(645)

–

(56)

2,229

Balance at end of period

(889)

(889)

3

456

42,586

9

Fiscal year ended February 28, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

4,157

Retained earnings

4,032

Treasury shares

38,773(3,947)

Total shareholders'equity43,016

Changes during period
Dividends of surplus

(592)

(592)

Profit attributable to owners ofparent

1,484

1,484

Purchase of treasury shares(397)

Change in ownership interest ofparent due to transactions with noncontrolling interests

352

(397)
352

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

–

352

891

(397)

846

4,157

4,384

39,665(4,344)

43,862

Accumulated other comprehensive income
Total accumulated
Foreign currency
other comprehensive
translation adjustment
incomeBalance at beginning of period

(889)

(889)

Share acquisitionrightsNon-controllinginterests
3

456

Total net assets

42,586

Changes during period
Dividends of surplus(592)

Profit attributable to owners ofparent

1,484

Purchase of treasury shares(397)

Change in ownership interest ofparent due to transactions with noncontrolling interests

352

Net changes in items other thanshareholders' equity

1,023

1,023

(3)

Total changes during period

1,023

1,023

(3)

562

2,429

Balance at end of period

134

134

–

1,018

45,015

10

562

1,582

Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
February 28, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in provision for bonuses
Increase (decrease) in allowance for doubtful accounts
yyyInterest and dividend income
Share of loss (profit) of entities accounted for using equity
methodInterest expenses
Foreign exchange losses (gains)
Subsidy income
Loss on retirement of non-current assets
Loss (gain) on valuation of investment securities
Loss (gain) on sale of shares of subsidiaries and associates
Impairment losses
Loss on COVID19
Decrease (increase) in trade receivables
Headquarters relocation cost
Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable
Decrease (increase) in accounts receivable - other
Increase (decrease) in accrued consumption taxes
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued expenses
Other, net

Fiscal year ended
February 28, 2022
4,524
2,951
684
343
158
75
(40)

15,750
2,797
454
858
53
147
(31)

56

92

1,040
(503)
(1,737)
346
–
–
4,486
1,821
(885)
–
8,514
69
693
998
(2,079)
356
(280)
1,502

917
51
(5)
378
109
276
114
4
3,083
870
(13,978)(160)(1,021)(3,083)
2,995
306
0
1,157

Subtotal

23,096

12,141

Interest and dividends received
Interest paid
Income taxes paid
Subsidies received
Payments for loss on COVID-19

40(1,050)(2,494)
1,737(1,821)31(915)(2,980)5(4)

Net cash provided by (used in) operating activities

19,508

8,276(1,189)
43
(655)
(100)
(77)
(163)
–
265
(32)

(4,961)
154
(463)
(681)
(206)
(277)
200
1,350
(209)

560

534

(11)
–
(12)

(8)
71
(2)

(1,373)(4,500)Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Payments for asset retirement obligations
Loan advances
Payments of leasehold and guarantee deposits
Proceeds from collection of loans receivable
Proceeds from refund of leasehold and guarantee deposits
Payments of construction assistance fund receivables
Proceeds from collection of construction assistance fundreceivables
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries and associates
Other, net
Net cash provided by (used in) investing activities

11

(Millions of yen)
Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings

35
7

1,285
82

(11,867)(397)(1,932)
(0)

(644)
370

(768)
–

Net cash provided by (used in) financing activities(12,495)(1,332)

Effect of exchange rate change on cash and cash equivalents

244

31

Net increase (decrease) in cash and cash equivalents

5,883

2,474

Cash and cash equivalents at beginning of period

37,29543,179–16

43,17945,670

Repayments of long-term borrowings
Purchase of treasury shares
ppp
Proceeds from share issuance to non-controlling shareholders

Increase (decrease) in cash and cash equivalents resulting fromchange in scope of consolidation
Cash and cash equivalents at end of period

12Non-consolidated financial statements
Non-consolidated balance sheets(Millions of yen)
As of February 28, 2021

As of February 28, 2022

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade35,231
6,230

38,0895,470

Merchandise
Supplies

51,54632

60,21645

Prepaid expenses
Other

1,330
1,836

1,297
2,447

Allowance for doubtful accounts(1,975)(484)

Total current assets

94,233

107,082

16,135

16,860

3,742
16

3,614
176

Tools, furniture and fixtures
Land

376
218

817
136

Construction in progress

105

1,082

20,594

22,687

0
1,478

0
1,305

14

0

1,492

1,305

Investment securities
Shares of subsidiaries and associates

0
6,239

0
6,242

Long-term loans receivable from subsidiaries andassociates

11,804

6,881

43
367

7
297

Leasehold and guarantee deposits
Construction assistance fund receivables

5,442
4,614

4,382
4,289

Deferred tax assets
Other

3,236
128

3,695
132

Allowance for doubtful accounts

(301)

(42)

Total investments and other assets

31,57625,887

Non-current assets
Property, plant and equipment
Buildings
Structures
VehiclesTotal property, plant and equipment
Intangible assets
Trademark right
Software
Other
Total intangible assets
Investments and other assets

Distressed receivables
Long-term prepaid expenses

Total non-current assets
Total assets

13

53,66349,881

147,897

156,964

(Millions of yen)
As of February 28, 2021

As of February 28, 2022

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings from subsidiaries and associates

5,432
212

6,081
231

Current portion of long-term borrowings
Accounts payable - other

–
2,676

10,0002,910

Accounts payable - facilities
Income taxes payable

80
1,637

184
2,671

Accrued consumption taxes
Accrued expenses

2,816
1,732

346
1,551

Advances received
Deposits received

8,208
936

9,409
1,844

Provision for bonuses
Provision for merchandise warranties

1,152
737

1,965
884

362
715

660
1,327

Total current liabilities

26,70240,068Non-current liabilities
Long-term borrowings

77,145

67,145

506
2,329

587
2,163

188

183

Unearned revenue
Other provisions

Long-term guarantee deposits
Asset retirement obligations
Other
Total non-current liabilities

80,16970,079106,872

110,148

4,157

4,157

Capital surplus
Other capital surplus

4,032

4,032

Total capital surplus

4,032

4,032

Retained earnings
Legal retained earnings

Total liabilities
Net assets
Shareholders' equity
Share capital

92

169

Other retained earnings
Retained earnings brought forward

37,08742,801

Total retained earnings

37,18042,970Treasury shares(4,344)(4,344)

Total shareholders' equity

41,02546,816

Total net assets
Total liabilities and net assets

41,02546,816

147,897

156,964

Non-consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

February 28, 2021

February 28, 2022

Net sales
Cost of sales

275,710219,258

306,733
245,661

Gross profit

56,451

61,071

Selling, general and administrative expenses
Advertising expenses

6,685

5,952

Salaries and allowances
Provision for bonuses

12,787
1,075

12,933
1,838

Depreciation
Rent expenses on land and buildings

2,400
9,969

2,220
10,21014

Provision of allowance for doubtful accounts
Other

121
15,55353
15,955

Total selling, general and administrative expenses

48,59349,164

Operating profit

7,858

11,907

Non-operating income
Interest and dividend income

154

162

Foreign exchange gains
Other

88
12

–
19

Total non-operating income

255

182

Non-operating expenses
Interest expenses

443

415

Foreign exchange losses
Other

–
27

79
21

Total non-operating expenses

471

516

7,642

11,573

–
–

23
106

305
3

4
–

7

3

316

137

283
–

326
855

6,710
535

–
114

Loss on store closings
Provision of allowance for doubtful accounts

70
362

82
–

Loss on COVIT19
Head office relocation expenses

389
–

3
870

Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on liquidation of subsidiaries
Subsidy income
Gain on reversal of share acquisition rights
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on sale of investment securities
Loss on valuation of shares of subsidiaries and associates
Impairment losses

Other

65

6

8,416

2,260

Profit (loss) before income taxes

(458)

9,450

Income taxes - current

2,033

3,356

Total extraordinary losses

Income taxes - deferred

(410)

(458)

Total income taxes

1,622

2,897

Profit (loss)(2,081)6,553

15