J Front Retailing : Supplementary Information to Financial Results　(248.7 KB)

○Supplementary Information to Financial Results

J. FRONT RETAILING Supplementary Information to Financial Results

1. Consolidated Results of Operations (Actual and Forecast)

   
   

   (Unit: Millions of yen, %)

   Item	Actual (fiscal year ended Feb 29, 2016)		Forecast (fiscal year ending Feb 28, 2017)
   			Six months ending Aug 31, 2016		Full year ending Feb 28, 2017
   	Amount	YoY	Amount	YoY	Amount	YoY
   1. Consolidated net sales	1,163,564	1.2	570,500	(0.5)	1,175,000	1.0
   2. Consolidated gross margin	21.10 %	Change (0.10) %	21.07 %	Change 0.07 %	21.06 %	Change (0.04) %
   3. Consolidated gross profit	245,532	0.7	120,200	(0.1)	247,400	0.8
   4. Consolidated SGA	197,494	(2.0)	98,400	(0.3)	197,400	(0.0)
   5. Consolidated operating income	48,038	13.9	21,800	0.4	50,000	4.1
   6. Consolidated operating margin	4.1 %	Change 0.4 %	3.8 %	Change 0.0 %	4.3 %	Change 0.2 %
   7. Consolidated ordinary income	47,910	18.4	20,000	(13.3)	48,000	0.2
   8. Consolidated ordinary income margin	4.1 %	Change 0.6 %	3.5 %	Change (0.5) %	4.1 %	Change 0.0 %
   9. Consolidated net income	26,313	31.8	13,400	(10.7)	28,000	6.4
   10. Consolidated net income margin	2.3 %	Change 0.6 %	2.3 %	Change (0.3) %	2.4 %	Change 0.1 %
   11. Consolidated total assets	1,019,146	651	1,033,000	13,854	1,056,900	37,754
   12. Consolidated equity	383,699	7,813	393,300	9,601	404,300	20,601
   13. Consolidated equity ratio	37.6 %	Change 0.7 %	38.1 %	Change 0.5 %	38.3 %	Change 0.7 %
   14. Consolidated interest-bearing debt	180,922	12,464	182,000	1,078	195,000	14,078
   15. Consolidated financial balance	(685)	(11)	(350)	(93)	(850)	(165)
   16. Number of consolidated subsidiaries	29 companies	0 companies	29 companies	0 companies	29 companies	0 companies
   17. Number of equity method associates	8 companies	0 companies	8 companies	0 companies	8 companies	0 companies
   18. Cash flows from operating activities	36,799	(7,851)	22,000	2,856	45,000	8,201
   19. Cash flows from investing activities	(39,741)	(23,469)	(19,000)	9,853	(53,000)	(13,259)
   20. Cash flows from financing activities	(1,041)	26,546	(3,500)	(5,433)	5,000	6,041
   21. Return on equity (ROE)	6.9 %	Change 1.5 %	7.1 %	Change 0.2 %
   22. Return on assets (ROA)	4.7 %	Change 0.5 %	4.8 %	Change 0.1 %
   23. Return on investment (ROI)	8.6 %	Change 1.3 %	8.2 %	Change (0.4) %
   24. Interest-bearing debt to equity ratio (D/E ratio)	0.47 times	Change 0.02 times	0.48 times	Change 0.01 times
   25. Interest-bearing debt to cash flow ratio	4.92 times	Change 1.15 times	4.33 times	Change (0.59) times

   Notes: 1. Consolidated net income, consolidated operating income and consolidated ordinary income are used to calculate ROE, ROA and ROI, respectively.

2. Forecast YoY changes in Items 11, 12, 13, 14, 16 and 17 are comparisons with the previous year-end.

3. Mainly as the inventory valuation method of Daimaru Matsuzakaya Department Stores Co. Ltd. has been changed to the specific identification method from the first quarter of the current fiscal year, the change has been applied retrospectively to all financial data.

2-1. Financial Results by Consolidated Company (Actual)

(Unit: Millions of yen, %)

Company name	Capital	Ownership percentage	Business	Actual (fiscal year ended Feb 29, 2016)
				Net sales	Operating income	Ordinary income	Net income
1. J. Front Retailing Co., Ltd.	30,000	12,213	9,194	9,201	6,872
Daimaru Matsuzakaya Department 2. Stores Co. Ltd.	10,000	100.0	Department store	677,511	26,173	24,474	10,747
3. The Hakata Daimaru, Inc.	3,037	69.9	Department store	56,747	2,439	2,191	1,142
4. The Shimonoseki Daimaru, Inc.	480	100.0	Department store	15,694	390	315	(89)
5. Kochi Daimaru Co., Ltd.	300	100.0	Department store	13,269	242	255	123
6. Parco Co., Ltd.	34,367	64.9	Shopping complex	249,366	11,731	11,727	5,932
7. Parco (Singapore) Pte Ltd	SGD 4M	64.9	Shopping complex	－	(82)	(74)	(74)
8. Neuve A Co., Ltd.	490	64.9	Specialty store	21,473	694	694	269
9. Parco Space Systems Co., Ltd.	490	64.9	Space engineering & management	19,969	433	458	22
10. Parco-City Co., Ltd.	10	64.9	Internet-related business	866	32	32	29
11. Daimaru Kogyo, Ltd.	1,800	100.0	Wholesale	56,283	1,253	1,252	832
Daimaru Kogyo International Trading 12. (Shanghai) Co., Ltd.	USD 2M	100.0	Wholesale	3,572	81	101	75
13. Daimaru Kogyo (Thailand) Co., Ltd.	THB 202M	99.9	Wholesale	844	1	9	9
14. Taiwan Daimaru Kogyo, Ltd.	NTD 60M	100.0	Wholesale	187	(23)	(22)	(22)
15. JFR Card Co., Ltd.	100	100.0	Credit	10,455	2,703	2,577	1,561
J. Front Design & Construction 16. Co., Ltd.	100	100.0	Design & construction Manufacture & sale of furniture	38,714	1,300	1,284	760
17. JFR Online Co. Ltd.	100	100.0	Direct marketing	11,623	(394)	(394)	(690)
18. Dimples' Co., Ltd.	90	100.0	Staffing service	11,707	617	621	381
19. J. Front Foods Co., Ltd.	100	100.0	Restaurant	2,781	0	(2)	(235)
20. Daimaru COM Development Inc.	50	100.0	Real estate leasing Tenant service	2,179	372	387	221
Consumer Product End-Use 21. Research Institute Co., Ltd.	450	100.0	Merchandise test Quality control	1,026	91	93	53
22. JFR Plaza Inc.	NTD 185M	90.0	General merchandise retail	503	(227)	(237)	(268)
23. Forest Co.，Ltd.	90	72.9	Direct marketing	12,656	131	135	62
24. Angel Park Co., Ltd.	400	50.2	Parking	1,152	620	660	424
25. JFR Office Support Co., Ltd.	100	100.0	Commissioned back- office service	2,039	193	235	128
26. JFR Service Co. Ltd.	100	100.0	Leasing Parking management	4,988	175	177	107
27. JFR Consulting Co. Ltd.	100	100.0	Consulting	204	(8)	(8)	(8)
28. JFR Information Center Co., Ltd.	10	100.0	Information service	4,704	345	348	206
Daimaru Matsuzakaya Sales 29. Associates Co. Ltd.	90	100.0	Commissioned sales & store operations	9,774	160	159	89
Daimaru Matsuzakaya Tomonokai 30. Co., Ltd.	100	100.0	Specified prepaid transaction service	2,403	(479)	142	(34)

2-2. Financial Results by Consolidated Company (Forecast)

(Unit: Millions of yen, %)

Company name	Capital	Ownership percentage	Business	Six months ending Aug 31, 2016				Full year ending Feb 28, 2017
				Net sales	Operating income	Ordinary income	Net income	Net sales	Operating income	Ordinary income	Net income
1. J. Front Retailing Co., Ltd.	30,000	7,330	5,700	5,700	5,600	13,100	9,800	9,800	9,700
Daimaru Matsuzakaya 2. Department Stores Co. Ltd.	10,000	100.0	Department store	326,200	10,000	8,900	4,700	677,700	26,500	24,500	14,500
3. The Hakata Daimaru, Inc.	3,037	69.9	Department store	27,400	971	830	497	57,400	2,670	2,380	1,371
4. The Shimonoseki Daimaru, Inc.	480	100.0	Department store	7,700	171	96	62	15,700	400	272	157
5. Kochi Daimaru Co., Ltd.	300	100.0	Department store	6,300	144	155	84	13,300	300	315	152
6. Parco Co., Ltd.	34,367	64.9	Shopping complex	125,200	6,450	6,300	3,700	251,700	12,150	12,500	7,050
7. Parco (Singapore) Pte Ltd	SGD 4M	64.9	Shopping complex	－	(37)	(37)	(37)	－	(96)	(96)	(96)
8. Neuve A Co., Ltd.	490	64.9	Specialty store	11,116	405	403	201	23,030	905	901	486
Parco Space Systems 9. Co., Ltd.	490	64.9	Space engineering & management	10,402	356	368	256	20,113	565	587	405
10. Parco-City Co., Ltd.	10	64.9	Internet-related business	525	25	25	23	1,000	60	60	55
11. Daimaru Kogyo, Ltd.	1,800	100.0	Wholesale	28,000	759	764	521	56,500	1,380	1,386	937
Daimaru Kogyo International 12. Trading (Shanghai) Co., Ltd.	USD 2M	100.0	Wholesale	1,565	9	9	7	3,350	28	28	22
Daimaru Kogyo (Thailand) 13. Co., Ltd.	THB 202M	99.9	Wholesale	685	4	5	5	1,230	7	10	10
14. Taiwan Daimaru Kogyo, Ltd.	NTD 60M	100.0	Wholesale	210	(12)	(12)	(12)	380	(15)	(15)	(15)
15. JFR Card Co., Ltd.	100	100.0	Credit	5,400	1,470	1,413	876	11,000	3,000	2,864	1,760
J. Front Design & Construction 16. Co., Ltd.	100	100.0	Design & construction Manufacture & sale of furniture	18,000	600	605	389	36,300	1,300	1,310	842
17. JFR Online Co. Ltd.	100	100.0	Direct marketing	5,340	(130)	(130)	(130)	12,700	10	10	8
18. Dimples' Co., Ltd.	90	100.0	Staffing service	6,350	360	361	230	12,600	650	652	406
19. J. Front Foods Co., Ltd.	100	100.0	Restaurant	1,442	50	47	27	2,800	80	78	45
20. Daimaru COM DevelopmentInc.	50	100.0	Real estate leasing Tenant service	1,070	178	175	95	2,100	335	330	172
Consumer Product End-Use 21. Research Institute Co., Ltd.	450	100.0	Merchandise test Quality control	508	46	47	29	1,030	105	106	64
22. JFR Plaza Inc.	NTD 185M	90.0	General merchandise retail	404	(65)	(69)	(69)	1,030	(75)	(83)	(83)
23. Forest Co.，Ltd.	90	72.9	Direct marketing	6,740	74	75	39	13,300	164	168	101
24. Angel Park Co., Ltd.	400	50.2	Parking	580	319	339	226	1,150	620	656	432
25. JFR Office Support Co., Ltd.	100	100.0	Commissioned back- office service	981	23	38	15	1,986	52	84	43
26. JFR Service Co. Ltd.	100	100.0	Leasing Parking management	2,039	18	18	8	4,142	37	38	16
27. JFR Consulting Co. Ltd.	100	100.0	Consulting	107	2	2	1	221	11	11	9
28. JFR Information Center Co., Ltd.	10	100.0	Information service	2,425	148	149	95	5,300	250	252	156
Daimaru Matsuzakaya Sales 29. Associates Co. Ltd.	90	100.0	Commissioned sales & store operations	4,816	95	94	55	9,632	200	199	115
Daimaru Matsuzakaya 30. Tomonokai, Co., Ltd.	100	100.0	Specified prepaid transaction service	1,159	(195)	98	56	2,448	(471)	130	69

3-1. Daimaru Matsuzakaya Department Stores Results of Operations (Actual and Forecast)

(Unit: Millions of yen, %)

Item	Actual (fiscal year ended Feb 29, 2016)		Forecast (fiscal year ending Feb 28, 2017)
			Six months ending Aug 31, 2016		Full year ending Feb 28, 2017
	Amount	YoY	Amount	YoY	Amount	YoY
1. Net sales	677,511	0.9	326,200	(1.9)	677,700	0.0
2. Gross margin	23.53 %	Change (0.04) %	23.51 %	Change 0.00 %	23.48 %	Change (0.05) %
3. Gross profit	159,406	0.7	76,700	(1.8)	159,100	(0.2)
4. SGA	133,232	(3.6)	66,700	(0.2)	132,600	(0.5)
5. Operating income	26,173	30.0	10,000	(11.3)	26,500	1.2
6. Operating margin	3.9 %	Change 0.9 %	3.1 %	Change (0.3) %	3.9 %	Change 0.0 %
7. Ordinary income	24,474	33.0	8,900	(17.6)	24,500	0.1
8. Ordinary income margin	3.6 %	Change 0.9 %	2.7 %	Change (0.5) %	3.6 %	Change 0.0 %
9. Net income	10,747	(9.0)	4,700	160.8	14,500	34.9
10. Net income margin	1.6 %	Change (0.2) %	1.4 %	Change 0.9 %	2.1 %	Change 0.5 %
11. Total assets	360,062	(5,642)	361,100	1,038	371,200	11,138
12. Equity	96,224	1,356	97,500	1,276	103,900	7,676
13. Interest-bearing debt	80,082	(1,807)	79,500	(582)	80,300	218
14. Financial balance	(403)	61	0	(88)	(400)	3
15. Cash flows from operating activities	14,559	(14,883)	11,100	4,122	28,500	13,941
16. Cash flows from investing activities	(9,824)	(4,335)	(8,800)	(1,194)	(24,800)	(14,976)
17. Cash flows from financing activities	(5,988)	18,539	(2,300)	(2,032)	(3,700)	2,288
18. Return on equity (ROE)	11.2 %	Change (1.6) %	14.5 %	Change 3.3 %
19. Return on assets (ROA)	7.2 %	Change 1.7 %	7.2 %	Change 0.0 %
20. Return on investment (ROI)	13.9 %	Change 3.9 %	13.6 %	Change (0.3) %

Notes: 1. Net income, operating income and ordinary income are used to calculate ROE, ROA and ROI, respectively.

1. Forecast YoY changes in Items 11, 12 and 13 are comparisons with the previous year-end.

2. As the inventory valuation method has been changed to the specific identification method from the first quarter of the current fiscal year, the change has been applied retrospectively to all financial data.