H2O RETAILING CORPORATION H2O RETAILING CORPORATION
Supplementary Information
to Financial Results
of the Fiscal Year
Ending March 31, 2024
Nov. 2, 2023
I. Consolidated Financial Results1.Consolidated statements of income
Overview of financial results
Selling, general and administrative expenses Non-operating Income and Expenses Extraordinary Income and Losses
2.Consolidated Balance Sheet 3.Capital Investment
II.Forecast of FY2024
1.Forecast of consolidated financial results 2.Forecast of Capital Investment
III. Non-Consolidated Results
1.Hankyu Hanshin Department Stores, Inc.
2. Izumiya・Hankyu Oasis Co., Ltd. 3.Kansai Super Market Ltd.
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
I. Consolidated Financial Results
1.Consolidated statements of income < Overview of financial results >
(Millions of yen) | |||||||||
Sep. 30, | Sep. 30, | Sep. 30, | |||||||
2021 | 2022 | 2023 | |||||||
Amount | Amount | Amount | |||||||
YoY | Inc./Dec | Vs. forecast | Inc./Dec | ||||||
Department Store | 154,306 | 220,475 | 259,140 | 117.5% | + 38,664 | 103.8% | + 9,494 | ||
Supermarket | 149,228 | 205,832 | 210,904 | 102.5% | + 5,072 | 99.9% | △ 190 | ||
Shopping Center | 24,560 | 17,497 | 15,807 | 90.3% | △ 1,689 | 88.2% | △ 2,112 | ||
Other | 15,976 | 17,740 | 19,336 | 109.0% | + 1,596 | 111.5% | + 1,997 | ||
Gross sales | 344,072 | 461,546 | 505,189 | 109.5% | + 43,643 | 101.9% | + 9,189 | ||
Net sales | 237,020 | 304,425 | 318,543 | 104.6% | + 14,117 | 98.9% | △ 3,456 | ||
Department Store | △ 4,075 | 1,626 | 7,039 | 432.9% | + 5,413 | 170.4% | + 2,909 | ||
Supermarket | 2,396 | 1,643 | 4,123 | 250.9% | + 2,480 | 90.7% | △ 421 | ||
Shopping Center | △ 6 | 867 | 1,792 | 206.7% | + 925 | 159.9% | + 671 | ||
Other | △ 2,348 | △ 1,563 | 1,318 | - | + 2,882 | - | + 1,387 | ||
Consolidation adjustment | △ 1,114 | △ 1,458 | △ 4,376 | - | △ 2,918 | - | △ 1,649 | ||
Operating profit | △ 5,148 | 1,114 | 9,897 | 888.4% | + 8,783 | 141.4% | + 2,897 | ||
Ordinary profit | △ 4,189 | 2,835 | 10,664 | 376.1% | + 7,829 | 159.2% | + 3,964 | ||
Extraordinary income | 19,886 | 5,029 | 988 | 19.6% | △ 4,041 | ||||
Extraordinary losses | 4,809 | 3,144 | 1,178 | 37.5% | △ 1,966 | ||||
Profit | 8,085 | 2,790 | 6,294 | 225.6% | + 3,504 | 314.7% | + 4,294 | ||
* The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022. | |||||||||
< Selling, general and administrative expenses > | |||||||||
(Millions of yen) | |||||||||
Sep. 30, | Sep. 30, | Sep. 30, | |||||||
2021 | 2022 | 2023 | |||||||
Amount | Amount | Amount | YoY | Inc./Dec | |||||
Personnel expenses | 40,127 | 47,013 | 46,954 | 99.9% | △ 59 | ||||
Rent expenses | 18,260 | 23,468 | 23,982 | 102.2% | + 514 | ||||
Advertising expenses | 2,937 | 4,169 | 4,269 | 102.4% | + 99 | ||||
Depreciation | 7,590 | 8,932 | 9,181 | 102.8% | + 248 | ||||
Business consignment expenses | 9,409 | 10,502 | 10,873 | 103.5% | + 371 | ||||
Sales commission | 2,474 | 4,212 | 5,161 | 122.5% | + 949 | ||||
Transportation costs | 7,131 | 8,491 | 8,308 | 97.8% | △ 183 | ||||
Other | 15,042 | 18,630 | 18,420 | 98.9% | △ 209 | ||||
Total | 102,973 | 125,419 | 127,150 | 101.4% | + 1,730 | ||||
* The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
1
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
< Non-operating Income and Expenses >
(Millions of yen) | |||||
Sep. 30, | Sep. 30, | Sep. 30, | |||
2021 | 2022 | 2023 | |||
Amount | Amount | Amount | YoY | Inc./Dec | |
Non-operating income | 2,588 | 3,088 | 1,912 | 61.9% | △ 1,176 |
Interest income | 249 | 277 | 155 | 55.8% | △ 122 |
Dividend income | 593 | 629 | 668 | 106.1% | + 38 |
Gain on debt settlement | 453 | 421 | 346 | 82.1% | △ 75 |
Foreign exchange gains | 890 | 1,357 | 164 | 12.1% | △ 1,193 |
Share of profit of entities accounted | - | - | 61 | - | + 61 |
for using equity method | |||||
Other | 402 | 401 | 516 | 128.6% | + 114 |
Non-operating expenses | 1,629 | 1,367 | 1,145 | 83.7% | △ 222 |
Interest expenses | 475 | 492 | 446 | 90.7% | △ 45 |
Loss on provision for redemption of | 362 | 339 | 273 | 80.7% | △ 65 |
gift certificates | |||||
Share of loss of entities accounted for | 483 | 225 | - | - | △ 225 |
using equity method | |||||
Other | 307 | 310 | 424 | 136.8% | + 114 |
- The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
< Extraordinary Income and Losses >
(Millions of yen)
Sep. 30, | Sep. 30, | Sep. 30, | |||||
2021 | 2022 | 2023 | |||||
Amount | Amount | Amount | Major items | ||||
Extraordinary income | 19,886 | 5,029 | 988 | ||||
Gain on sale of non-current assets | 988 | H2O Shopping Center Development | |||||
Extraordinary losses | 4,809 | 3,144 | 1,178 | ||||
Loss on retirement of non-current | 794 | Hankyu Hanshin Department Stores, etc. | |||||
assets | |||||||
Office relocation expenses | 282 | Consolidation of Supermarket business head office | |||||
Loss on store closings | 101 | ||||||
2
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
2. Consolidated Balance sheet
(Millions of yen) | |||
Sep. 30, | Mar. 31, | Sep. 30, | |
2021 | 2023 | 2023 | |
Cash and deposits | 31,012 | 58,670 | 54,994 |
Notes and accounts receivable - | 60,495 | 68,572 | 67,972 |
trade | |||
Inventories | 22,004 | 21,234 | 21,227 |
Total current assets | 124,057 | 161,408 | 157,202 |
Property, plant and equipment | 308,956 | 303,253 | 303,666 |
Intangible assets | 17,130 | 19,764 | 24,028 |
Investments and other assets | 223,087 | 201,997 | 206,736 |
Total non-current assets | 549,175 | 525,015 | 534,432 |
Total assets | 673,233 | 686,423 | 691,634 |
Notes and accounts payable - trade | 54,547 | 63,674 | 70,422 |
Loans payable and bonds | 181,729 | 179,267 | 169,056 |
Total liabilities | 398,619 | 413,608 | 410,457 |
Shareholders' equity | 203,100 | 206,213 | 209,003 |
Total net assets | 274,613 | 272,814 | 281,177 |
Total liabilities and net assets | 673,233 | 686,423 | 691,634 |
3. Capital Investment
(Millions of yen)
Sep. 30, | ||
2023 | ||
Amount | Major items | |
Department Store | 4,391 | Renovations of Kobe Hankyu and Hankyu Main Store |
Supermarket | 3,775 | Building purchase of Izumiya・Hankyu Oasis |
Shopping Center | 999 | |
Other | 7,657 | System investments of H2O Retailing |
Consolidation adjustment | △ 31 | |
Total | 16,792 | |
3
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
II. Forecast of FY2024
1. Forecast of consolidated financial results
(Millions of yen) | |||||||||||
1-2Q | 3-4Q | FY2024 | |||||||||
Amount | YoY | Forecast | YoY | Forecast | YoY | ||||||
Department Store | 259,140 | 117.5% | 296,159 | 109.1% | 555,300 | 112.9% | |||||
Supermarket | 210,904 | 102.5% | 210,905 | 100.3% | 421,810 | 101.4% | |||||
Shopping Center | 15,807 | 90.3% | 19,082 | 105.6% | 34,890 | 98.1% | |||||
Other | 19,336 | 109.0% | 18,663 | 101.3% | 38,000 | 105.1% | |||||
Gross sales | 505,189 | 109.5% | 544,810 | 105.1% | 1,050,000 | 107.2% | |||||
Net sales | 318,543 | 104.6% | 361,456 | 111.7% | 680,000 | 108.3% | |||||
Department Store | 7,039 | 432.9% | 10,460 | 120.6% | 17,500 | 169.9% | |||||
Supermarket | 4,123 | 250.9% | 3,843 | 100.5% | 7,967 | 145.7% | |||||
Shopping Center | 1,792 | 206.7% | 1,255 | 133.5% | 3,048 | 168.6% | |||||
Other | 1,318 | - | △ 1,499 | - | △ 181 | - | |||||
Consolidation adjustment | △ 4,376 | - | △ 1,957 | - | △ 6,334 | - | |||||
Operating profit | 9,897 | 888.4% | 12,102 | 117.8% | 22,000 | 193.2% | |||||
Ordinary profit | 10,664 | 376.1% | 11,835 | 116.4% | 22,500 | 173.0% | |||||
Profit | 6,294 | 225.6% | 6,705 | 49.3% | 13,000 | 79.4% | |||||
- The Company has applied "Accounting Standard for Revenue Recognition" from the beginning of 1Q, FY2022.
2. Forecast of Capital Investment
(Millions of yen)
FY2024 | ||||||
Forecast | Major items | |||||
Department Store | 8,814 | Remodel of Kobe Hankyu and Takatsuki Hankyu, Hankyu Umeda Main Store | ||||
Supermarket | 8,153 | New center of Food Delivery Business | ||||
Store renovetion of each Supermarket company | ||||||
Shopping Center | 2,145 | Renovation of H2O | Shopping Center Development stores | |||
Other | 15,759 | Software renewal of merchandise and operational system , POS restructuring | ||||
Consolidation of Supermarket business head office | ||||||
Total | 34,870 | |||||
4
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
III. Non-consolidated results
1. Hankyu Hanshin Department Stores, Inc.
< Overview of financial results >
(Millions of yen) | |||||
Amount | YoY | Inc./Dec | Vs. forecast | Inc./Dec | |
Gross sales | 257,479 | 117.5% | ＋ 38,271 | 103.2% | ＋ 8,031 |
Gross profit | 57,404 | 116.7% | ＋ 8,224 | ||
(Gross profit / Gross Sales) | 22.29% | - | △0.14pt | ||
Other operating revenue | 1,968 | 127.1% | ＋ 419 | 104.2% | ＋ 78 |
SG & A | 52,368 | 106.5% | ＋ 3,206 | ||
(SG & A / Gross Sales) | 20.34% | - | △2.09pt | ||
Operating profit | 7,004 | 447.0% | ＋ 5,437 | 168.6% | ＋ 2,849 |
Operating profit / Gross Sales | 2.72% | - | ＋2.01pt | - | ＋1.05pt |
* Non-consolidated results shown above are reclassified on the basis before the application of "Accounting Standards for Revenue Recognition".
< Business results by stores >
(Millions of yen, thousands of people, ㎡)
Amount | YoY | Number of | YoY | Sales area | ||
customers | ||||||
Hankyu Main Store *1 | 139,753 | 119.2% | 20,062 | 125.1% | 98,418 | |
Hanshin Umeda Main Store | 30,253 | 122.1% | 16,357 | 117.5% | 52,996 | |
Senri Hankyu | 6,636 | 104.4% | 1,778 | 94.7% | 13,902 | |
Takatsuki Hankyu | 10,965 | 110.3% | 4,445 | 114.9% | 38,638 | |
Kawanishi Hankyu | 5,985 | 101.1% | 2,496 | 105.8% | 15,521 | |
Takarazuka Hankyu *2 | 3,262 | 103.0% | - | - | 6,148 | |
Nishinomiya Hankyu | 11,494 | 103.0% | 5,713 | 101.1% | 25,099 | |
Kobe Hankyu | 18,263 | 127.8% | 7,916 | 116.2% | 45,482 | |
Hakata Hankyu | 27,298 | 125.0% | 13,273 | 127.2% | 41,835 | |
Hankyu Men's Tokyo | 6,076 | 118.4% | 1,094 | 118.9% | 11,378 | |
Oi Hankyu Food Hall | 2,153 | 103.2% | 2,443 | 103.4% | 2,042 | |
Tsuzuki Hankyu | 1,483 | 100.0% | 1,009 | 95.5% | 1,917 | |
Amagasaki Hanshin *2 | 1,459 | 103.1% | - | - | 2,855 | |
Hanshin Nishinomiya | 1,961 | 100.8% | 1,862 | 101.0% | 4,998 | |
Hanshin Mikage | 254 | 102.9% | 2,336 | 103.6% | 804 | |
Total of branch stores | 97,295 | 114.5% | 44,371 | 112.5% | 210,620 | |
Total stores*3 | 267,302 | 117.8% | 80,791 | 116.4% | 362,034 | |
*1. including Hankyu Men's Osaka | ||||||
*2. not counting the number of customers | ||||||
*3. including sales in tenants (¥9,822 million) |
5
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
< Gross Sales of each category >
(Millions of yen) | |||
Amount | YoY | Share | |
Men's clothing | 18,070 | 117.0% | 6.8% |
Women's clothing | 28,267 | 114.2% | 10.6% |
Children's clothing | 4,332 | 113.4% | 1.6% |
Other clothing | 4,500 | 112.2% | 1.7% |
Clothing | 55,170 | 114.9% | 20.6% |
Accessories, bags and others | 62,153 | 131.2% | 23.3% |
Household merchandise | 6,975 | 116.7% | 2.6% |
Foods | 70,243 | 108.2% | 26.3% |
Restaurants & cafes | 6,658 | 122.4% | 2.5% |
General merchandise | 54,375 | 118.0% | 20.3% |
Service | 1,240 | 138.1% | 0.5% |
Other | 10,485 | 127.7% | 3.9% |
Total * | 267,302 | 117.8% | 100.0% |
- including sales in tenants (¥9,822 million)
< Monthly Sales >
Apr. | May | Jun. | Jul. | Aug. | Sep. | |
Hankyu Main Store * | 116.6% | 113.3% | 118.8% | 115.9% | 125.9% | 126.1% |
Hanshin Umeda Main Store | 99.7% | 117.1% | 107.9% | 118.0% | 133.5% | 158.3% |
Total of branch stores | 112.3% | 115.6% | 109.6% | 114.9% | 118.4% | 116.3% |
Total stores | 112.9% | 114.5% | 114.1% | 115.8% | 123.8% | 126.3% |
* Including Hankyu Men's Osaka |
6
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
(Millions of yen) | ||||||
1-2Q | 3-4Q | FY2024 | ||||
Amount | YoY | Forecast | YoY | Forecast | YoY | |
Gross sales | 257,479 | 117.5% | 294,120 | 108.9% | 551,600 | 112.7% |
Other operating revenue | 1,968 | 127.1% | 2,061 | 111.0% | 4,030 | 118.3% |
Operating profit | 7,004 | 447.0% | 10,595 | 120.9% | 17,600 | 170.4% |
* Non-consolidated results shown above are reclassified on the basis before the application of "Accounting Standards for Revenue Recognition".
(Millions of yen) | ||||||
1-2Q | 3-4Q | FY2024 | ||||
Amount | YoY | Forecast | YoY | Forecast | YoY | |
Hankyu Main Store *1 | 139,753 | 119.2% | 154,259 | 107.2% | 294,012 | 112.6% |
Hanshin Umeda Main Store | 30,253 | 122.1% | 37,250 | 121.8% | 67,504 | 122.0% |
Senri Hankyu | 6,636 | 104.4% | 7,307 | 98.9% | 13,944 | 101.4% |
Takatsuki Hankyu | 10,965 | 110.3% | 12,319 | 103.4% | 23,285 | 106.5% |
Kawanishi Hankyu | 5,985 | 101.1% | 6,840 | 100.2% | 12,826 | 100.6% |
Takarazuka Hankyu | 3,262 | 103.0% | 3,871 | 107.6% | 7,134 | 105.5% |
Nishinomiya Hankyu | 11,494 | 103.0% | 13,103 | 100.2% | 24,598 | 101.5% |
Kobe Hankyu | 18,263 | 127.8% | 24,984 | 132.0% | 43,248 | 130.2% |
Hakata Hankyu | 27,298 | 125.0% | 29,610 | 103.1% | 56,909 | 112.5% |
Hankyu Men's Tokyo | 6,076 | 118.4% | 7,102 | 103.2% | 13,179 | 109.7% |
Oi Hankyu Food Hall | 2,153 | 103.2% | 2,367 | 99.5% | 4,521 | 101.2% |
Tsuzuki Hankyu | 1,483 | 100.0% | 1,747 | 101.3% | 3,231 | 100.7% |
Amagasaki Hanshin | 1,459 | 103.1% | 1,615 | 99.1% | 3,075 | 101.0% |
Hanshin Nishinomiya | 1,961 | 100.8% | 2,174 | 99.8% | 4,136 | 100.2% |
Hanshin Mikage | 254 | 102.9% | 276 | 102.3% | 531 | 102.6% |
Total of branch stores | 97,295 | 114.5% | 113,321 | 107.4% | 210,617 | 110.6% |
Total stores*2 | 267,302 | 117.8% | 304,831 | 108.9% | 572,133 | 112.9% |
*1. including Hankyu Men's Osaka | ||||||
*2. including sales in tenants |
7
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
2. Izumiya・Hankyu Oasis Co., Ltd.< Overview of financial results >
(Millions of yen) | |||||
Amount | YoY | Inc./Dec | Vs. forecast | Inc./Dec | |
Gross sales | 122,918 | 102.5% | ＋ 3,044 | 98.2% | △ 2,267 |
Gross profit | 33,109 | 103.3% | ＋ 1,053 | ||
(Gross profit / Gross Sales) | 26.94% | - | ＋0.19pt | ||
Other operating revenue | 9,189 | 110.8% | ＋ 894 | 109.9% | ＋ 827 |
SG & A | 39,464 | 100.0% | △ 4 | ||
(SG & A / Gross Sales) | 32.11% | - | △0.82pt | ||
Operating profit | 2,834 | 321.4% | ＋ 1,952 | 83.9% | △ 545 |
Operating profit / Gross Sales | 2.31% | - | ＋1.57pt | - | △0.39pt |
- Non-consolidatedresults shown above are reclassified on the basis before the application of "Accounting Standards for Revenue Recognition".
Izumiya
Hankyu Oasis
Total | YoY difference |
73△3
77±0
< Opening and closing stores >
Opening
Closing
-
Family Mart × Izumiya Higashi Mikuni 4-chome Family Mart × Izumiya Teramadacho Higashi
< Monthly Sales >
Apr. | May | Jun. | Jul. | Aug. | Sep. | |
Existing stores | 102.6% | 103.3% | 104.4% | 102.9% | 104.9% | 105.6% |
(Millions of yen) | ||||||
1-2Q | 3-4Q | FY2024 | ||||
Amount | YoY | Forecast | YoY | Forecast | YoY | |
Gross sales | 122,918 | 102.5% | 123,661 | 100.8% | 246,580 | 101.7% |
Other operating revenue | 9,189 | 110.8% | 8,165 | 99.9% | 17,355 | 105.4% |
Operating profit | 2,834 | 321.4% | 2,239 | 92.0% | 5,074 | 153.1% |
* Non-consolidated results shown above are reclassified on the basis before the application of "Accounting Standards for Revenue Recognition".
8
H2O RETAILING CORPORATION (8242)
Supplementary Information to Financial Results for the Second Quaeter of the Fiscal Year Ending Mar. 31, 2024
3.Kansai Super Market Ltd.
< Overview of financial results >
(Millions of yen) | |||||
Amount | YoY | Inc./Dec | Vs. forecast | Inc./Dec | |
Gross sales | 65,146 | 103.6% | ＋ 2,249 | 101.7% | ＋ 1,072 |
Gross profit | 17,207 | 105.2% | ＋ 850 | ||
(Gross profit / Gross Sales) | 26.41% | - | ＋0.41pt | ||
Other operating revenue | 1,014 | 99.8% | △ 2 | 100.3% | ＋ 2 |
SG & A | 16,201 | 99.6% | △ 70 | ||
(SG & A / Gross Sales) | 24.87% | - | △1.00pt | ||
Operating profit | 2,020 | 183.5% | ＋ 919 | 128.7% | ＋ 450 |
Operating profit / Gross Sales | 3.10% | - | ＋1.35pt | - | ＋0.65pt |
*1. Financial results of Kansai Super Market Ltd.are consolidated with KSP Co., Ltd.
Consolidated results shown above are reclassfied on the basis before the application of "Accounting Standards for Revenue Recognition"
*2. Due to the partial revision of accounting classifications following the business integration, YoY change based on the same accounting standards is shown.
Total | YoY difference | |||||||
Kansai Super Market | 63 | △1 | ||||||
< Opening and closing stores > | ||||||||
Opening | - | |||||||
Closing | - | |||||||
< Monthly Sales > | ||||||||
Apr. | May | Jun. | Jul. | Aug. | Sep. | |||
Existing stores | 102.6% | 103.1% | 105.6% | 107.7% | 103.5% | 105.1% | ||
< Forecast of FY2024 > | ||||||||
(Millions of yen) | ||||||||
1-2Q | 3-4Q | FY2024 | ||||||
Amount | YoY | Forecast | YoY | Forecast | YoY | |||
Gross sales | 65,146 | 103.6% | 64,888 | 100.4% | 130,035 | 102.0% | ||
Other operating revenue | 1,014 | 99.8% | 1,016 | 99.8% | 2,030 | 99.8% | ||
Operating profit | 2,020 | 183.5% | 1,730 | 96.9% | 3,750 | 129.9% | ||
*1. Financial results of Kansai Super Market Ltd.are consolidated with KSP Co., Ltd.
Consolidated results shown above are reclassfied on the basis before the application of "Accounting Standards for Revenue Recognition"
9
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H2O Retailing Corporation published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2023 05:17:05 UTC.
