FY2022/02 Full-Year Financial Results and Supplementary Information

April 14, 2022

Tokyo Stock Exchange Prime Market

Section: 3548

  • 1 FY2022/02 Full Year Result Overview

  • 2 Future Priority Strategies

FY2022/02 Full-Year Summary

  • Consolidated Sales were 99.0%, almost as planned. Each profit item below Consolidated Operating Profit was achieved with a significant breakthrough of around 110~120%.

  • The Sales and Profits of Domestic Sales increased significantly YoY. EC sales also grew signicantly.

  • Regarding to Overseas business, Sales and Profits increased significantly YoY due to the contribution of China and US business.

Item

当期実績/Current Year Actual （2021/3/1～2022/2/28）

前年実績/Previous Year Actual （2020/3/1～2021/2/28）

通期業績 見通し

Forecast

実績

Actual

通期業績 見通し比 %

前年実績

Previous Year Actual

前年比

YoY

前年比増減

Increase/ Decrease

連結売上高

/Sales

￥59.73 bil

￥59.13 bil

99.0％

￥50.59 bil

116.9％

￥8.54 bil

連結売上総利益

/Gross Profit

￥34.34 bil

￥32.78 bill

95.4%

￥27.84 bil

117.7％

￥4.93 bil

連結営業利益

/Operating Profit

￥2.31 bil

￥2.75 bil

119.1％

￥1.31 bil

209.7％

￥1.43 bil

連結経常利益

/Recurring Proft

￥2.28 bil

￥2.84 bil

124.3％

￥1.18 bil

239.7％

￥1.65 bil

親会社株主に帰属する 当期純利益

/Net Profit

￥1.30 bil

￥1.47 bil

112.8％

￥0.37 bil

391.6％

￥1.09 bil

FY2022/02 Full Year Consolidated Income Statement

Japan Business Overview

  • It showed progress that exceeded the lap of the full-year earnings forecast until 3Q, and continued momentum until the first half of January in 4Q. After that, due to the rapid expansion of Omicron variant in Japan, the number of customers decreased from the latter half of January, but as a result of fine control of cashing and expenses, the domestic business saw a significant increase in sales and profits compared to the previous year.

  • Domestic EC Sales grew by 10.6% YoY . In-house EC sales grew to 101.9％ YoY, 3rd-party EC sales grew to 122.0％ YoY .

  • The Consolidated SG&A Expenses-to-Sales Ratio decreased by 1.6pts.

（百万円/JPY mil）

FY2022/02

実績

Actual

対売上 % of Sales

前年同期比

YoY

売上高/Sales

51,761

116.5%

（店舗売上/Store Sales）

37,422

72.3%

116.6%

（EC売上/EC Sales）

10,435

20.2%

110.6%

売上総利益/Gross Profit

30,439

58.8%

117.4%

販管費及び一般管理費/SG&A

28,635

55.3%

113.3%

営業利益/Operating Profit

1,804

3.5%

278.0%

経常利益/Recurring Profit

1,885

3.6%

327.3%

FY2021/02

前期実績

Actual

対売上 % of Sales

44,427

32,094

72.2%

9,435

21.2%

25,927

58.4%

25,278

56.9%

648

1.5%

576

1.3%

Overseas Business

Overseas Business OverviewU.S. Business

  • Brand recognition for the wealthy in North America has also increased, and the U.S. business has been expanded with a business model centered on EC and wholesale (for high-end department stores and select shops)

  • The actual store is 1 store in NY. Full-year EC ratio (including EC specialized wholesalers): 32.8%

  • Business performance in the U.S. for the FY2022/02 grew significantly. Sales were 188.8% YoY and operating income was 463.7% YoY

  • We have built a business model and business management system that can steadily generate profits in the U.S. market. Operating profit under U.S. subsidiary has grown to a level of approximately ￥300 million

China JV

  • The Chinese business showed good performance in the first half, however Covid-19 epidemic have spread in China since the beginning of last fall. Although the momentum of personal consumption weakened and the number of customers decreased, and the results for the second half showed a slowdown, however on a full-year basis, sales and profits increased significantly compared to the previous year

  • China EC Sales increased significantly by112.3 ％ YoY（ Full-year EC ratio was 17.2%）

  • The number of stores increased by 19 in the 4Q period to 332 stores（Opened：33 Closed：14). Net increase of 33 stores on a full-year compared to the same period of the previous year

(*) Only royalties from retail companies are recorded in "Royalty", and royalties from wholesale companies (￥61 million) are recorded in "Wholesale", which is substantially 113.6% YoY

（百万円/JPY mil）

FY2022/02 Actual

FY2021/02

Actual

YoY

中国合弁事業に関する売上

Sales from China JV

卸売/Wholesale

7,001*

5,920

118.3%

ロイヤリティ/Royalty

415*

420

98.8%

売上合計/Sales Total

7,416

6,340

117.0%

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Baroque Japan Ltd. published this content on 14 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2022 06:14:10 UTC.