AEON MALL CO., LTD. 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 First Quarter of the Fiscal Year
Ending February 29, 2024 (Japanese GAAP)
July 11, 2023 | ||
Company name: | AEON MALL Co., Ltd. | Stock Exchange Listing: TSE |
Stock code: | 8905 | URL https://www.aeonmall.com/en/ir/ |
Representative: | Yasutsugu Iwamura, President and CEO | Starting date of dividend payment: － |
Scheduled date of filing of quarterly report: July 13, 2023 |
Preparation of supplementary materials for quarterly financial results: Yes
Holding of quarterly 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 First Quarter of the Fiscal Year Ending February 2024 (March 1, 2023 - May 31, 2023)
(1) Consolidated Operating Results (cumulative)
Operating revenue | Operating income | Ordinary income | Net income attributable | |||||||||||||
to owners of parent | ||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||||
Three months ended May 31, 2023 | 105,529 | 9.7 | 13,883 | 6.0 | 11,471 | 5.8 | 6,372 | 2.3 | ||||||||
Three months ended May 31, 2022 | 96,167 | 26.2 | 13,092 | 21.0 | 10,845 | 22.0 | 6,226 | (29.9) | ||||||||
(Note) Comprehensive income: Three months ended May 31, 2023: ¥15,124 million (-40.5%) | ||||||||||||||||
Three months ended May 31, 2022: ¥25,425 million (7.2%) | ||||||||||||||||
Net income per share | Net income per share (diluted) | |||||||||||||||
Yen | Yen | |||||||||||||||
Three months ended May 31, 2023 | 28.00 | 28.00 | ||||||||||||||
Three months ended May 31, 2022 | 27.36 | 27.36 | ||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||
Million yen | Million yen | % | ||||||||||||||
May 31, 2023 | 1,607,484 | 461,011 | 28.0 | |||||||||||||
February 28, 2023 | 1,559,592 | 451,711 | 28.2 | |||||||||||||
(Reference) Equity: May 31, 2023: ¥449,518 million | ||||||||||||||||
February 28, 2023: ¥440,495 million | ||||||||||||||||
2. Dividends | ||||||||||||||||
Annual Dividend | ||||||||||||||||
First quarter-end | First half-end | Third quarter-end | Fiscal year-end | Total | ||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||
Year ended February 28, 2023 | － | 25.00 | － | 25.00 | 50.00 | |||||||||||
Year ending February 29, 2024 | － | |||||||||||||||
Year ending February 29, 2024 (projection) | 25.00 | － | 25.00 | 50.00 |
(Note) Revisions to dividend forecast announced recently: None
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 per | |||||||||
Operating revenue | Operating income | Ordinary income | attributable to | |||||||
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 |
(Note) Revisions to earnings forecast announced recently: None
- Notes
- Material changes in consolidated subsidiaries during the period (changes in specific subsidiaries resulting in a change in the scope of consolidation): None
- Application of special accounting methods in the preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes of accounting-based estimates, revisions & restatements
- Changes in accounting policies due to changes in accounting standards, etc.: None
- Changes in accounting policies other than the above: None
- Changes in accounting estimates: None
- Revisions and restatements: None
- Number of shares issued and outstanding (common stock)
- Number of shares outstanding at period- end (including treasury stock)
- Treasury stock at period-end
- Average number of shares during the period (quarterly cumulative)
Three months ended | 227,559,339 | Year ended | 227,559,339 |
May 31, 2023 | February 28, 2023 | ||
Three months ended | 4,290 | Year ended | 4,270 |
May 31, 2023 | February 28, 2023 | ||
Three months ended | 227,555,062 | Three months ended | 227,544,939 |
May 31, 2023 | May 31, 2022 | ||
- The summary of quarterly financial results is exempt from quarterly review procedures.
-
Explanations and other special notes concerning the appropriate use of earnings projections (Cautionary statement regarding forward-looking statements, etc.)
The forward-looking statements, such as earnings projections, included in these materials are based on information currently available to the Company and certain assumptions it deems reasonable. They do not constitute a promise of future performance by the Company. Moreover, actual performance may vary considerably due to a variety of factors. See 1. Qualitative Information on Quarterly Financial Performance (3) Explanation of Consolidated Earnings Projections and Other Projections on P.10 of the accompanying materials for assumptions used in earnings projections and matters to note when using earnings projections.
(Procedures for obtaining supplementary information on financial results)
The Company is scheduled to hold a briefing for institutional investors and analysts on July 12, 2023. The materials handed out at this briefing will be posted on the Company's website on July 11, 2023, and 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. Qualitative Information on Quarterly Financial Performance | 2 | |
(1) | Explanation of Operating Results | 2 |
(2) | Explanation of Financial Position | 10 |
(3) | Explanation of Consolidated Earnings Projections and Other Projections | 10 |
2. Quarterly Consolidated Financial Statements and Notes | 11 | |
(1) | Quarterly Consolidated Balance Sheets | 11 |
(2) | Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income | 13 |
Quarterly Consolidated Statements of Income | ||
For the three months ended May 31, 2022 and May 31, 2023 | 13 | |
Quarterly Consolidated Statements of Comprehensive Income | ||
For the three months ended May 31, 2022 and May 31, 2023 | 14 | |
(3) | Quarterly Consolidated Statement of Cash Flows | 15 |
(4) | Notes to the Quarterly Consolidated Financial Statements | 16 |
Notes on the going concern assumption | 16 | |
Notes on significant changes in shareholders' equity | 16 | |
Changes in major consolidated subsidiaries during the period under review | 16 | |
Segment and other information | 17 | |
Significant subsequent events | 17 |
- 1 -
1. Qualitative Information on Quarterly Financial Performance
- Explanation of Operating Results
- Explanation of consolidated results of operations
AEON MALL Co., Ltd., creating the future of community living as we pursue our basic principle that the customer comes first. Under this management philosophy, is a Life Design Developer (Note) we defined our corporate activities as Heartful Sustainable.
In this way, we contribute to the development and revitalization of communities and society as a corporate citizen, striving to achieve sustainable societies through various initiatives.
We develop malls localized to the characteristics of each community we serve in Japan and around the world, contributing to better individual lifestyles and community growth. By continuing to provide solutions to local community and social issues, we aim to establish a position as a core facility offering social infrastructure functions in local communities. In May of this year, we formulated a new vision for 2030, AEON MALL, Co-CreatingWith Our Communities. Our goal here is to create sustainable societies and build a resilient organization in an era of increasing uncertainty. Together with our customers, local communities, partners, shareholders, investors, and other like-minded stakeholders, we strive to create, expand, and foster deeper connections, co-creating through activities that lead to sustainable futures for our communities.
(Note) Our definition of Life Design extends beyond the framework of the shopping mall. Life Design addresses functions associated with different customer life stages, including not only shopping, but also interaction with other people, cultural development, and other features contributing to future lifestyles.
We recorded record-high revenue for the consolidated first quarter of the current fiscal year. Operating revenue amounted to ¥105,529 million (+9.7% year on year), while operating income amounted to ¥13,883 million (+6.0%) and ordinary income amounted to ¥11,471 million (+5.8%) Despite posting ¥1,009 million in extraordinary losses, including ¥650 million in provision for loss on store closings with the decision to terminate management and operations of QUALITE PRIX (Hokkaido), we secured a year-on-year increase in net income attributable to owners of parent of ¥6,372 million (+2.3%).
◆Consolidated Earnings | (Million yen) | ||
FY2022 Q1 | FY2023 Q1 | Change | |
[YoY] | |||
Operating revenue | 96,167 | 105,529 | ＋9,362 |
[+9.7%] | |||
Operating income | 13,092 | 13,883 | ＋791 |
[+6.0%] | |||
Ordinary income | 10,845 | 11,471 | ＋625 |
[+5.8%] | |||
Net income attributable to owners of parent | 6,226 | 6,372 | ＋146 |
[+2.3%] | |||
- 2 -
2) Explanation of business performance by segment | ||||||||||
◆Earnings by Segment | (Million yen) | |||||||||
Operating Revenue | Segment Income (Loss) | |||||||||
FY2022 Q1 | FY2023 Q1 | Change | FY2022 Q1 | FY2023 Q1 | Change | |||||
[YoY] | [YoY] | |||||||||
China | 12,820 | 14,391 | ＋1,571 | 2,426 | 2,501 | ＋74 | ||||
[+12.3%] | [+3.1%] | |||||||||
Vietnam | 2,680 | 3,528 | ＋848 | 765 | 1,093 | ＋328 | ||||
[+31.6%] | [+42.9%] | |||||||||
Cambodia | 1,104 | 1,899 | ＋794 | 250 | 97 | (153) | ||||
[+71.9%] | [-61.2%] | |||||||||
Indonesia | 1,242 | 1,559 | ＋316 | (263) | (105) | ＋157 | ||||
[+25.5%] | [－] | |||||||||
Other | － | － | － | (3) | (3) | (0) | ||||
[－] | [－] | |||||||||
Overseas | 17,847 | 21,378 | ＋3,531 | 3,175 | 3,582 | ＋406 | ||||
[+19.8%] | [+12.8%] | |||||||||
Japan | 78,319 | 84,150 | ＋5,831 | 9,909 | 10,294 | ＋384 | ||||
[+7.4%] | [+3.9%] | |||||||||
Adjustment | － | － | － | 6 | 6 | － | ||||
[－] | [+0.0%] | |||||||||
Total | 96,167 | 105,529 | ＋9,362 | 13,092 | 13,883 | ＋791 | ||||
[+9.7%] | [+6.0%] | |||||||||
a. Overseas
[Three months ended March 31, 2023 (Jan-Mar)]
The Company recorded higher revenue and profit overseas. Operating revenue amounted to ¥21,378 million (+19.8% year on year) and operating income in the amount of ¥3,582 million (+12.8%). The following describes the status of sales in each country. The accounting period for companies outside Japan is the year ending December 31; therefore, earnings for FY2023 Q1 reflect results from January through March 2023.
(China)
The Company recorded higher revenue and profit in China. Operating revenue amounted to ¥14,391 million (+12.3% year on year) and operating income in the amount of ¥2,501 million (+3.1%).
In the consolidated first quarter of the previous fiscal year, we closed malls temporarily across the regions we serve to mitigate the spread of COVID-19 beginning in mid-March. In the first quarter of the current consolidated fiscal year, however, economic activities and consumption in China have been active with the easing of zero-COVID policies in December 2022. In January, the Chinese New Year was celebrated for the first time in four years with no restrictions on activities. This development boosted purchasing demand in connection with trips to ancestral homes and travel during the Chinese New Year. In March, rising temperatures brought more opportunities for consumers to go outside, leading to strong sales in the apparel, sportswear, and shoes/bag industries. As a result, specialty store sales at existing malls (22 malls) during the consolidated first quarter were +21.8% compared with the year-ago quarter.
(Vietnam)
The Company recorded higher revenue and profit in Vietnam. Operating revenue amounted to ¥3,528 million (+31.6% year on year) and operating income in the amount of ¥1,093 million (+42.9%).
During the consolidated first quarter, citizens celebrated Tet, the Vietnamese Lunar New Year in January. Leading up to Tet, purchasing demand increased at all malls, especially for apparel, driving sales. In March, we attracted shoppers through promotions of International Women's Day, a commemorative day to express gratitude to women, and Earth Hour, an event encouraging energy conservation. As a result, specialty store sales at existing malls (6 malls) during the consolidated first quarter were +25.4% compared with the year-ago quarter.
- 3 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Aeon Mall Co. Ltd. published this content on 11 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2023 06:08:08 UTC.
