J.FRONT RETAILING CO., LTD. 1. Consolidated Results of Operations (Actual and Forecast)
(Unit: Millions of yen, %)
Item | Actual (fiscal year ended Feb 2015) | Forecast (fiscal year ending Feb 2016) | ||||
Item | Actual (fiscal year ended Feb 2015) | Six months ending Aug 2015 | Full year ending Feb 2016 | |||
Item | Amount | YoY | Amount | YoY | Amount | YoY |
1. Consolidated net sales | 1,149,529 | 0.3 | 571,000 | 2.4 | 1,177,000 | 2.4 |
2. Consolidated gross margin | 21.20 % | Change (0.10) % | 21.17 % | Change (0.17) % | 21.14 % | Change (0.06) % |
3. Consolidated gross profit | 243,663 | (0.2) | 120,900 | 1.6 | 248,800 | 2.1 |
4. Consolidated SG&A | 201,572 | (0.4) | 101,400 | 0.8 | 203,800 | 1.1 |
5. Consolidated operating income | 42,091 | 0.7 | 19,500 | 5.9 | 45,000 | 6.9 |
6. Consolidated operating margin | 3.7 % | Change 0.1 % | 3.4 % | Change 0.1 % | 3.8 % | Change 0.1 % |
7. Consolidated ordinary income | 40,404 | (0.2) | 17,900 | (0.1) | 42,500 | 5.2 |
8. Consolidated ordinary income margin | 3.5 % | Change 0.0 % | 3.1 % | Change (0.1) % | 3.6 % | Change 0.1 % |
9. Consolidated net income | 19,918 | (36.9) | 16,500 | 111.5 | 28,000 | 40.6 |
10. Consolidated net income margin | 1.7 % | Change (1.1) % | 2.9 % | Change 1.5 % | 2.4 % | Change 0.7 % |
11. Consolidated total assets | 1,018,700 | 19,970 | 1,020,000 | 1,300 | 1,040,000 | 21,300 |
12. Consolidated equity | 376,091 | 5,918 | 389,000 | 12,909 | 397,000 | 20,909 |
13. Consolidated equity margin | 36.9 % | Change (0.2) % | 38.1 % | Change 1.2 % | 38.2 % | Change 1.3 % |
14. Consolidated interest-bearing debt | 168,458 | (19,492) | 180,000 | 11,542 | 188,000 | 19,542 |
15. Consolidated financial balance | (674) | 214 | (400) | (129) | (950) | (276) |
16. Number of consolidated subsidiaries | 29 companies | 1 company | 29 companies | 0 companies | 29 companies | 0 companies |
17. Number of equity method affiliates | 8 companies | 0 companies | 8 companies | 0 companies | 8 companies | 0 companies |
18. Cash flows from operating activities | 44,650 | 7,118 | 19,500 | (5,754) | 31,000 | (13,650) |
19. Cash flows from investing activities | (16,272) | (7,414) | (29,000) | (20,297) | (42,000) | (25,728) |
20. Cash flows from financing activities | (27,587) | 4,440 | 2,000 | 22,092 | 6,000 | 33,587 |
21. Return on equity (ROE) | 5.3 % | Change (3.6) % | 7.2 % | Change 1.9 % | ||
22. Return on assets (ROA) | 4.2 % | Change 0.0 % | 4.4 % | Change 0.2 % | ||
23. Return on investment (ROI) | 7.3 % | Change 0.0 % | 7.5 % | Change 0.2 % | ||
24. Interest-bearing debt to equity ratio | 0.45 times | Change (0.06) times | 0.47 times | Change 0.02 times | ||
25. Interest-bearing debt to cash flow ratio | 3.77 times | Change (1.24) times | 6.06 times | Change 2.29 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. Changes in consolidated subsidiaries
During the current period, the following one company was newly added: Taiwan Daimaru Kogyo, Ltd.
2-1. Financial Results by Consolidated Company (Actual)
(Unit: Millions of yen, %)
based transaction
2-2. Financial Results by Consolidated Company (Forecast)
(Unit: Millions of yen, %)
Company name | Capital | Ownership percentage | Business | Six months ending Aug 2015 | Full year ending Feb 2016 | ||||||
Company name | Capital | Ownership percentage | Business | Net sales | Operating income | Ordinary income | Net income | Net sales | Operating income | Ordinary income | Net income |
1. J. Front Retailing Co., Ltd. | 30,000 | 6,250 | 4,950 | 4,950 | 4,900 | 11,400 | 8,700 | 8,700 | 8,600 | ||
2. Daimaru Matsuzakaya Department Stores Co. Ltd. | 10,000 | 100.0 | Department store | 329,800 | 9,000 | 8,100 | 4,700 | 677,900 | 22,500 | 20,500 | 11,000 |
3. The Hakata Daimaru, Inc. | 3,037 | 69.9 | Department store | 28,000 | 980 | 828 | 346 | 59,000 | 2,800 | 2,481 | 1,284 |
4. The Shimonoseki Daimaru, Inc. | 480 | 100.0 | Department store | 8,200 | 186 | 138 | 65 | 16,600 | 470 | 373 | 207 |
5. Kochi Daimaru Co., Ltd. | 300 | 100.0 | Department store | 6,600 | 133 | 132 | 54 | 13,700 | 330 | 333 | 166 |
6. Parco Co., Ltd. | 34,367 | 64.9 | Shopping complex | 125,700 | 6,100 | 6,000 | 3,600 | 259,700 | 11,800 | 11,600 | 6,600 |
7. Parco (Singapore) Pte Ltd | SGD 4M | 64.9 | Shopping complex | ― | (30) | (30) | (30) | ― | (99) | (99) | (99) |
8. Neuve A Co., Ltd. | 490 | 64.9 | Specialty store | 10,281 | 296 | 294 | 130 | 21,432 | 661 | 657 | 248 |
Parco Space Systems 9. Co., Ltd. | 490 | 64.9 | Space engineering & management | 10,090 | 204 | 216 | 117 | 19,569 | 414 | 436 | 239 |
10. Parco-City Co., Ltd. | 10 | 64.9 | Internet-related business | 450 | 13 | 13 | 11 | 937 | 19 | 19 | 17 |
11. Daimaru Kogyo, Ltd. | 1,800 | 100.0 | Wholesale | 28,300 | 533 | 537 | 321 | 59,000 | 1,190 | 1,192 | 746 |
12. Daimaru Kogyo International Trading (Shanghai) Co., Ltd. | USD 2M | 100.0 | Wholesale | 1,100 | 8 | 8 | 6 | 2,300 | 25 | 25 | 19 |
13. Daimaru Kogyo (Thailand) Co., Ltd. | THB 202M | 99.9 | Wholesale | 440 | 0 | 0 | 0 | 950 | 7 | 8 | 8 |
14. Taiwan Daimaru Kogyo, Ltd. | NTD 60M | 100.0 | Wholesale | 90 | (11) | (10) | (10) | 250 | (22) | (21) | (21) |
15. JFR Card Co., Ltd. | 100 | 100.0 | Credit | 5,300 | 1,600 | 1,518 | 942 | 11,000 | 3,450 | 3,268 | 2,030 |
16. J. Front Design & Construction Co., Ltd. | 100 | 100.0 | Design & construction Manufacture & sale of furniture | 15,000 | 420 | 425 | 246 | 31,000 | 900 | 910 | 544 |
17. JFR Online Co. Ltd. | 100 | 100.0 | Direct marketing | 5,900 | (170) | (169) | (169) | 13,900 | 30 | 31 | 27 |
18. Dimples' Co., Ltd. | 90 | 100.0 | Staffing service | 5,800 | 360 | 360 | 221 | 12,000 | 650 | 647 | 395 |
19. J. Front Foods Co., Ltd. | 100 | 100.0 | Restaurant | 1,480 | 60 | 57 | 25 | 2,860 | 80 | 76 | 29 |
20. Daimaru COM Development Inc. | 50 | 100.0 | Real estate leasing Tenant service | 1,030 | 161 | 151 | 86 | 2,150 | 350 | 334 | 174 |
21. Consumer Product End-Use Research Institute Co., Ltd. | 450 | 100.0 | Merchandise test Quality control | 505 | 48 | 48 | 26 | 1,030 | 110 | 111 | 59 |
22. JFR Plaza Inc. | NTD 185M | 90.0 | General merchandise retail | 425 | (95) | (99) | (99) | 1,100 | (140) | (148) | (148) |
23. Forest Co.，Ltd. | 90 | 72.9 | Direct marketing | 6,850 | (18) | (18) | (22) | 14,000 | 50 | 50 | 15 |
24. Angel Park Co., Ltd. | 400 | 50.2 | Parking | 580 | 324 | 348 | 224 | 1,160 | 620 | 660 | 425 |
25. JFR Office Support Co., Ltd. | 100 | 100.0 | Commissioned back- office service | 951 | 58 | 75 | 45 | 1,952 | 131 | 164 | 98 |
26. JFR Service Co. Ltd. | 100 | 100.0 | Leasing Parking management | 2,258 | 63 | 63 | 38 | 4,530 | 136 | 137 | 81 |
27. JFR Consulting Co. Ltd. | 100 | 100.0 | Consulting | 115 | 3 | 3 | 2 | 248 | 23 | 23 | 19 |
28. JFR Information Center Co., Ltd. | 10 | 100.0 | Information service | 2,299 | 124 | 125 | 76 | 4,560 | 210 | 212 | 126 |
29. Daimaru Matsuzakaya Sales Associates Co. Ltd. | 90 | 100.0 | Commissioned sales & store operations | 4,879 | 114 | 111 | 65 | 9,818 | 271 | 268 | 158 |
30. Daimaru Matsuzakaya Tomonokai, Co., Ltd. | 100 | 100.0 | Special repayment- based transaction | 1,166 | (184) | 67 | (45) | 2,441 | (465) | 50 | (59) |
3-1. Daimaru Matsuzakaya Department Stores Results of Operations (Actual and Forecast)
(Unit: Millions of yen, %)
Item | Actual (fiscal year ended Feb 2015) | Forecast (fiscal year ending Feb 2016) | ||||
Item | Actual (fiscal year ended Feb 2015) | Six months ending Aug 2015 | Full year ending Feb 2016 | |||
Item | Amount | YoY | Amount | YoY | Amount | YoY |
1. Net sales | 671,767 | (1.0) | 329,800 | 1.3 | 677,900 | 0.9 |
2. Gross margin | 23.56 % | Change (0.24) % | 23.62 % | Change (0.07) % | 23.56 % | Change 0.00 % |
3. Gross profit | 158,273 | (1.9) | 77,900 | 1.0 | 159,700 | 0.9 |
4. SG&A | 138,219 | (2.5) | 68,900 | (1.0) | 137,200 | (0.7) |
5. Operating income | 20,053 | 2.0 | 9,000 | 18.8 | 22,500 | 12.2 |
6. Operating margin | 3.0 % | Change 0.1 % | 2.7 % | Change 0.4 % | 3.3 % | Change 0.3 % |
7. Ordinary income | 18,321 | 1.7 | 8,100 | 11.2 | 20,500 | 11.9 |
8. Ordinary income margin | 2.7 % | Change 0.0 % | 2.5 % | Change 0.3 % | 3.0 % | Change 0.3 % |
9. Net income | 11,759 | 56.6 | 4,700 | 21.5 | 11,000 | (6.5) |
10. Net income margin | 1.8 % | Change 0.7 % | 1.4 % | Change 0.2 % | 1.6 % | Change (0.2) % |
11. Total assets | 365,883 | (3,296) | 367,000 | 1,117 | 365,300 | (583) |
12. Equity | 95,047 | 5,978 | 96,600 | 1,553 | 99,700 | 4,653 |
13. Interest-bearing debt | 81,889 | (18,686) | 84,400 | 2,511 | 80,700 | (1,189) |
14. Financial balance | (464) | 229 | (40) | (72) | (620) | (156) |
15. Cash flows from operating activities | 29,442 | 8,385 | 6,200 | (7,741) | 16,000 | (13,442) |
16. Cash flows from investing activities | (5,374) | (638) | (6,000) | (1,330) | (8,800) | (3,426) |
17. Cash flows from financing activities | (24,642) | (6,770) | (700) | 8,486 | (7,700) | 16,942 |
18. Return on equity (ROE) | 12.8 % | Change 4.1 % | 11.3 % | Change (1.5) % | ||
19. Return on assets (ROA) | 5.5 % | Change 0.3 % | 6.2 % | Change 0.7 % | ||
20. Return on investment (ROI) | 10.0 % | Change 0.7 % | 11.5 % | Change 1.5 % |
Notes: 1. Net income, operating income and ordinary income are used to calculate ROE, ROA and ROI, respectively.
2. Forecast YoY changes in Items 11, 12 and 13 are comparisons with the previous year-end.
3-2. Daimaru Matsuzakaya Department Stores Sales by Store (Actual and Forecast)
Notes: 1. Matsuzakaya Ginza store closed on June 30, 2013 for redevelopment of Ginza area and rebuilding.
2. The south building of Matsuzakaya Ueno store closed on March 11, 2014 for rebuilding.
(Unit: Millions of yen, %)
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