This is an abridged translation of the original Japanese document and is provided for informational purposes only.

If there are any discrepancies between this and the original, the original Japanese document prevails.

Consolidated Financial Results for the Fiscal Year Ended February 28, 2023

(Japanese GAAP)

April 11, 2023

Company name:

AEON MALL Co., Ltd.

Listings

Tokyo Stock Exchange

Stock code:

8905

URL

https://www.aeonmall.com/ir/index.html

Representative:

Yasutsugu Iwamura, President and CEO

Scheduled dates:

General shareholder's meeting

May 17, 2023

Commencement of dividend payments

May 1, 2023

Submission of statutory financial report

May 18, 2023

Supplementary documents for financial results

Yes

Financial results briefing

Yes (for institutional investors and analysts)

(Amounts in millions of yen rounded down to the nearest million yen)

1. Consolidated Financial Results for the Year Ended February 28, 2023 (March 1, 2022 - February 28, 2023)

(1) Consolidated Operating Results

(Percentages represent year-on-year changes)

Operating revenue

Operating income

Ordinary income

Net income attributable

to owners of parent

Years ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

February 28, 2023

398,244

25.7

43,979

15.0

36,409

11.9

12,994

(32.6)

February 28, 2022

316,813

12.9

38,228

11.1

32,540

14.4

19,278

－

(Note) Comprehensive income

Year ended February 28, 2023:

¥37,361 million (-24.9%)

Year ended February 28, 2022:

¥49,755 million (‐%)

Net income

Net income per share

Return on

Ordinary income /

Operating income /

per share

(diluted)

equity

total assets ratio

net sales ratio

Years ended

Yen

Yen

%

%

%

February 28, 2023

57.10

57.10

3.0

2.4

11.0

February 28, 2022

84.72

84.71

4.9

2.3

12.1

(Reference) Investment profit on equity method

Year ended February 28, 2023:

¥‐million

Year ended February 28, 2022:

¥‐million

(Note) The Company adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) as of the beginning of the

first quarter of the current consolidated fiscal year. Figures for the fiscal year ended February 28, 2023 reflect the application of this accounting standard.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen

%

Yen

February 28, 2023

1,559,592

451,711

28.2

1,935.77

February 28, 2022

1,463,256

426,931

28.5

1,830.21

(Reference) Equity

February 28, 2023:

¥440,495 million

February 28, 2022:

¥416,455 million

(Note) The Company adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) as of the beginning of the

first quarter of the current consolidated fiscal year. Figures for the fiscal year ended February 28, 2023 reflect the application of this accounting standard.

(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at year end

Years ended

Million yen

Million yen

Million yen

Million yen

February 28, 2023

101,490

(103,276)

13,515

101,101

February 28, 2022

61,492

(122,382)

8,225

82,973

(Note) The Company adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) as of the beginning of the first quarter of the current consolidated fiscal year. Figures for the fiscal year ended February 28, 2023 reflect the application of this accounting standard.

2. Dividends

Dividend per share

Total

Payout ratio

Dividend on

First

First

Third

Fiscal

equity

quarter-

half-

quarter-

year-

Total

dividend

(consolidated)

(consolidated)

end

end

end

end

Year ended

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

February 28, 2022

－

25.00

－

25.00

50.00

11,377

59.0

2.9

February 28, 2023

－

25.00

－

25.00

50.00

11,377

87.6

2.7

Year ending

25.00

25.00

50.00

February 29, 2024

－

－

42.1

(Projection)

3. Consolidated Earnings Projections for the Year Ending February 29, 2024 (March 1, 2023 - February 29, 2024)

(Percentages represent year-on-year changes)

Net income

Net income

Operating revenue

Operating income

Ordinary income

attributable to

per share

owners of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

First half, FY2023

220,000

13.3

27,500

20.5

22,500

21.4

15,000

110.6

65.91

Full-year

447,000

12.2

58,500

33.0

49,000

34.6

27,000

107.8

118.65

  • Notes
    1. Material changes in consolidated subsidiaries during the period (changes in specific subsidiaries resulting in a change in the scope of consolidation): None
    2. Changes in accounting policies, changes of accounting-based estimates, revisions and restatements
      1. Changes in accounting policies due to changes in accounting standards, etc.: Yes
      2. Changes in accounting policies other than the above: None
      3. Changes in accounting estimates: None
      4. Revisions and restatements: None

(Note) For more information, see 5. Consolidated Financial Statements and Notes (5) Notes on Consolidated Financial Statements (Changes in accounting policies) on P.34

(3) Number of shares issued and outstanding (common stock)

  1. Number of shares outstanding at period- end (including treasury stock)
  2. Treasury stock at period-end
  3. Average number of shares during the period (quarterly cumulative)

Year ended

227,559,339

Year ended

227,548,939

February 28, 2023

February 28, 2022

Year ended

4,270

Year ended

3,997

February 28, 2023

February 28, 2022

Year ended

227,551,163

Year ended

227,544,377

February 28, 2023

February 28, 2022

*This summary of consolidated results is exempt from review procedures conducted by a certified public accountant or public accounting firm.

  • Explanations and other special notes concerning the appropriate use of earnings projections (Cautionary statement regarding forward-looking statements, etc.)
    Earnings projections included in these materials and attachments are based on information available to the Company at the time and reflect certain assumptions the Company deems reasonable. Projections do not constitute a promise of future performance by the Company. Moreover, actual performance may vary considerably due to a variety of factors. For matters related to earnings projections, see 1. Analysis of Operating Results and Financial Position (1) Analysis of Operating Results 2) Future Outlook on P.12.
    (Procedures for obtaining supplementary information on financial results and accessing briefing materials)
    The Company is scheduled to hold a briefing for institutional investors and analysts on April 12, 2023. The materials handed out at this briefing will be posted on the Company's website on April 11, 2023. An audio recording of the briefing will be made available on the Company's website soon after the briefing has ended.

Accompanying Materials ― Contents

1. Analysis of Operating Results and Financial Position

2

(1)

Analysis of Operating Results

2

(2)

Consolidated Financial Position

13

(3)

Basic Policy on Income Distribution, Dividends for Fiscal Years Ended February 2022 and February 2023

14

2. State of the Corporate Group

15

3. Management Policies

16

4. Policy on Selection of Accounting Standards

24

5. Consolidated Financial Statements and Notes

25

(1)

Consolidated Balance Sheets

25

(2)

Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

27

Consolidated Statements of Income

27

Consolidated Statements of Comprehensive Income

29

(3)

Statements of Changes in Shareholders' Equity

30

(4)

Consolidated Statements of Cash Flows

32

(5)

Notes on Consolidated Financial Statements

34

Notes on the going concern assumption

34

Important matters concerning the basis for preparing consolidated financial statements

34

Changes in accounting policies

37

Notes

37

Consolidated balance sheets

37

Consolidated statements of income

41

Consolidated statements of comprehensive income

41

Statements of changes in shareholders' equity

42

Consolidated statements of cash flows

44

Lease transactions

44

Rental property

45

Segment and other information

46

Per-share information

49

Significant subsequent events

50

- 1 -

Attachments

1. Analysis of Operating Results and Financial Position

  1. Analysis of Operating Results
  1. Overview of the consolidated fiscal year under review a. Explanation of consolidated results of operations
    We recorded higher revenue and profit for the consolidated fiscal year ended February 28, 2023. Operating revenue amounted to ¥398,244 million (+25.7% year on year), while operating income amounted to ¥43,979 million (+15.0%) and ordinary income amounted to ¥36,409 million (+11.9%). Extraordinary losses included losses of ¥3,037 million due to COVID-19 (¥4,075 million in the previous consolidated fiscal year), recorded as fixed costs during temporary closure periods. Extraordinary losses also included impairment loss of ¥4,461 million (¥3,302 million in the previous consolidated fiscal year), provision for loss on store closings of ¥2,017 million (no provision in the previous consolidated fiscal year), and loss on retirement of fixed assets in the amount of ¥2,499 million (¥759 million in the previous consolidated fiscal year). As a result, income before income taxes and other adjustments amounted to ¥24,592 million (-6.0% year on year). In addition, total income taxes increased ¥4,573 million year on year, mainly due to the recording of deferred tax assets in connection with the absorption-type merger of our subsidiary, OPA Co., Ltd. As a result, net income attributable to owners of parent decreased to ¥12,994 million (-32.6% year on year).

We posted these costs as extraordinary losses due to COVID-19. Operating revenue, operating income, ordinary income, and net income attributable to shareholders of the parent company were +22.9%, -27.7%,-35.1%, and -62.0% compared to the results recorded for the fiscal year ended February 29, 2020 ("FY2019"), which was a period not impacted by COVID-19.

◆Consolidated Earnings

(Million yen)

Fiscal Year Ended

Fiscal Year Ended

Change

February 28, 2022

February 28, 2023

[YoY]

Operating revenue

316,813

398,244

+81,431

[125.7％]

Operating income

38,228

43,979

+5,751

[115.0％]

Ordinary income

32,540

36,409

+3,868

[111.9％]

Net income attributable to owners of

19,278

12,994

(6,284)

parent

[67.4％]

(Reference) Results vs. FY2019

Fiscal Year Ended

Fiscal Year Ended

Change

February 29, 2020

February 28, 2023

[Vs. FY2019]

Operating revenue

324,138

398,244

+74,105

[122.9％]

Operating income

60,794

43,979

(16,814)

[72.3％]

Ordinary income

56,117

36,409

(19,707)

[64.9％]

Net income attributable to owners of

34,239

12,994

(21,244)

parent

[38.0％]

- 2 -

b. Explanation of business performance by segment

◆Earnings by Segment

(Million yen)

Operating Revenue

Segment Income (Loss)

Fiscal Year

Fiscal Year

Change

Fiscal Year

Fiscal Year

Change

Ended February

Ended February

[Year on year]

Ended February

Ended February

[YoY]

28, 2022

28, 2023

28, 2022

28, 2023

China

43,139

52,538

+9,399

6,958

6,634

(324)

[121.8％]

[95.3％]

Vietnam

5,925

13,283

+7,358

(83)

3,063

+3,146

[224.2％]

[－]

Cambodia

3,001

5,672

+2,670

491

1,145

+654

[189.0％]

[233.2％]

Indonesia

3,532

5,897

+2,364

(1,084)

(987)

+96

[166.9％]

[－]

Other

－

－

－

(24)

(15)

+8

[－]

Overseas

55,598

77,392

+21,793

6,257

9,839

+3,581

[139.2％]

[157.2％]

Japan

261,214

321,700

+60,485

31,945

34,114

+2,169

[123.2％]

[106.8％]

Adjustment

－

(848)

(848)

25

25

－

[－]

[100.0％]

Total

316,813

398,244

+81,431

38,228

43,979

+5,751

[125.7％]

[115.0％]

(Reference) Results vs. FY2019

Operating Revenue

Segment Income (Loss)

Fiscal Year

Fiscal Year

Change

Fiscal Year

Fiscal Year

Change

Ended February

Ended February

[Vs. FY2019]

Ended February

Ended February

[Vs. FY2019]

29, 2020

28, 2023

29, 2020

28, 2023

China

35,850

52,538

+16,687

5,622

6,634

+1,012

[146.5％]

[118.0％]

Vietnam

5,420

13,283

+7,863

1,254

3,063

+1,808

[245.1％]

[244.2％]

Cambodia

4,026

5,672

+1,645

1,183

1,145

(38)

[140.9％]

[96.8％]

Indonesia

3,841

5,897

+2,056

248

(987)

(1,235)

[153.5％]

[－]

Other

－

－

－

－

(15)

(15)

[－]

Overseas

49,138

77,392

+28,253

8,308

9,839

+1,531

[157.5％]

[118.4％]

Japan

274,999

321,700

+46,700

52,460

34,114

(18,346)

[117.0％]

[65.0％]

Adjustment

－

(848)

(848)

25

25

－

[－]

[100.0％]

Total

324,138

398,244

+74,105

60,794

43,979

(16,814)

[122.9％]

[72.3％]

- 3 -

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Aeon Mall Co. Ltd. published this content on 11 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 April 2023 06:16:02 UTC.