Seven & i : Notice Regarding Receipt of Special Dividend from Consolidated Subsidiaries
February 24, 2017 at 03:13 am EST
Share
To whom it may concern,
February 24, 2017
Company Name: Seven & i Holdings Co., Ltd. Representative: Ryuichi Isaka
President & Representative Director (Code No. 3382/First Section of the Tokyo Stock Exchange)
Notice Regarding Receipt of Special Dividend from Consolidated Subsidiaries
Seven & i Holdings Co., Ltd. ("the Company") announced today that it received a special dividend from its consolidated subsidiaries. Details are as follows.
Reason
As part of business structural reforms intended to improve profitability, Sogo & Seibu Co., Ltd.'s shares were deemed to have decreased in value at the close of the six months ended August 31, 2016, and the Company therefore recognized a loss on valuation of stocks of subsidiaries and affiliates of ¥86,332 million in its non-consolidated financial statements, with a resulting decrease in retained earnings.
In light of this situation, to secure sufficient retained earnings for the payment of dividends for the fiscal year ending February 28, 2018, and to make effective use of funds, the Company received special dividends from Seven-Eleven Japan Co., Ltd., Ito-Yokado Co., Ltd., York-Benimaru Co., Ltd., York Mart Co., Ltd., Sogo
& Seibu Co., Ltd., and Seven & i Food Systems Co., Ltd.
Details
(1) Revenue from dividends received
：¥96,084 million
(2) Date received
：February 24, 2017
Impact on non-consolidated financial statements
Non-consolidated financial results forecast for the fiscal year ending February 28, 2017 (March 1, 2016 - February 28, 2017)
(Millions of yen)
Revenues from operations
Operating income
Ordinary income
Net income
Net income per share
Results for fiscal year ended
February 29, 2016 (A)
110,008
91,964
90,341
72,803
82.34 yen
Forecast for fiscal year ending February 28, 2017 (B)
217,800
193,900
192,800
67,500
76.33 yen
Change (B-A)
107,791
101,935
102,458
(5,303)
(6.01) yen
Change (%)
98.0
110.8
113.4
(7.3)
－
The receipt of special dividends from consolidated subsidiaries will not affect the consolidated financial statements.
Note: The financial results forecast were made by the Company's judgment based on currently available information. It is therefore possible that various factors could cause the Company's future performance to differ significantly from the contents of the forecast.
Seven & I Holdings Co. Ltd. published this content on 24 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 February 2017 08:13:14 UTC.
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Seven & i Holdings Co., Ltd. specializes in retailing. Net sales break down by type of stores as follows:
- convenience stores (58.4%): operated, at the end of February 2021, 31,586 stores (of which 21,702 located in Japan) under the Seven-Eleven name;
- supermarkets and specialized stores (32.8%): owned 1,339 stores primarily under the names Seven & i Food Systems (614), York-Benimaru (235), Ito-Yokado (132), The Loft (131), Akachan Honpo (117) and York (100) ;
- department stores (7.3%): owned 10 stores under the Sogo & Seibu name;
- other (0.1%).
The remaining sales (2.9%) are primarily from financial services and catering services.
Net sales break down geographically as follows: Japan (59.6%), North America (38.7%) and other (1.7%).
SEVEN & I HOLDINGS CO., LTD. 
