PAL GROUP HOLDINGS CO., LTD. Consolidated Financial Results
for the Three Months Ended May 31, 2022
[Japanese GAAP]
July 12, 2022
Company name: PAL GROUP Holdings CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 2726
URL: http://www.palgroup.holdings/
Representative: Ryuta Inoue, President and Representative Director
Contact: Toshio Fujii, Executive Officer in charge of finance and accounting
Phone: +81-6-6227-0308
Scheduled date of filing quarterly securities report: July 13, 2022
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Not available
Schedule of quarterly financial results briefing session: Not scheduled
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended May 31, 2022 (March 1, 2022 to May 31, 2022)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
million yen | % | million yen | % | million yen | % | million yen | % | ||
Three months ended | 39,183 | - | 4,423 | 146.6 | 4,561 | 159.5 | 3,069 | 198.0 | |
May 31, 2022 | |||||||||
Three months ended | 31,210 | 97.1 | 1,793 | - | 1,757 | - | 1,030 | - | |
May 31, 2021 | |||||||||
(Note) Comprehensive income: Three months ended May 31, 2022: ¥3,062 million [194.1%] | |||||||||
Three months ended May 31, 2021: ¥1,041 million [-%] | |||||||||
Basic earnings per | Diluted earnings per | ||||||||
share | share | ||||||||
yen | yen | ||||||||
Three months ended | 69.88 | - | |||||||
May 31, 2022 | |||||||||
Three months ended | 23.45 | - | |||||||
May 31, 2021 | |||||||||
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29,
March 31, 2020) and other standards from the beginning of the three months ended May 31, 2022. Therefore, changes in the net sales for the three months ended May 31, 2022 from the previous corresponding period are not presented.
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | |
million yen | million yen | % | |
As of May 31, 2022 | 99,563 | 48,255 | 48.4 |
As of February 28, 2022 | 93,728 | 47,389 | 50.5 |
(Reference) Equity: As of May 31, 2022: ¥48,211 million As of February 28, 2022: ¥47,328 million
2. Dividends
Annual dividends | |||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | Total | |||
yen | yen | yen | yen | yen | |||
Fiscal year ended | - | 0.00 | - | 50.00 | 50.00 | ||
February 28, 2022 | |||||||
Fiscal year ending | - | ||||||
February 28, 2023 | |||||||
Fiscal year ending | |||||||
February 28, 2023 | 0.00 | - | 50.00 | 50.00 | |||
(Forecast) | |||||||
(Note) Revision of dividend forecast: No |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 28, 2023 (March 1, 2022 to February 28, 2023)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||
owners of parent | per share | ||||||||
million yen | % | million yen | % | million yen | % | million yen | % | yen | |
First half | 76,000 | - | 6,500 | 129.0 | 6,600 | 136.2 | 4,100 | 183.8 | 93.34 |
Full year | 154,000 | - | 10,800 | 43.6 | 11,000 | 43.6 | 6,600 | 64.9 | 150.25 |
(Note) Revision of consolidated financial results forecast: Yes
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29,
March 31, 2020) and other standards from the beginning of the three months ended May 31, 2022. Therefore, changes in the net sales from the consolidated financial results for the fiscal year ended February 28, 2022, before the said accounting standard and other standards have been applied, are not presented.
* Notes
- Changes in significant subsidiaries during the period under review: No
- Adoption of special accounting methods for preparing quarterly consolidated financial statement: No
- Changes in accounting policies, changes in accounting estimates and corrections of errors
- Changes in accounting policies due to the revision of accounting standards: Yes
- Any changes other than 1) above: No
- Changes in accounting estimates: No
- Corrections of errors: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
As of May 31, 2022 | 46,272,000 shares | |
As of February 28, 2022 | 46,272,000 shares | |
2) Total number of treasury shares at the end of the period: | ||
As of May 31, 2022 | 2,346,288 shares | |
As of February 28, 2022 | 2,346,244 shares | |
3) Average number of shares during the period: | ||
Three months ended May 31, 2022 | 43,925,749 shares | |
Three months ended May 31, 2021 | 43,925,796 shares |
- These quarterly consolidated financial results are not covered by the quarterly review conducted by certified public accountants or audit corporations.
- Explanation of the proper use of financial results forecast and other notes
The statements regarding financial results forecast in this report are based on the information that is available, as well as estimates, assumptions and projections that are believed to be reasonable at the time of publication, and do not guarantee the achievement of the projections. Therefore, there might be cases in which actual results differ from forecast values.
Appendix | ||
1. Qualitative Information on Consolidated Financial Results for the Period under Review | 2 | |
(1) | Explanation of Operating Results | 2 |
(2) | Explanation of Financial Position | 2 |
(3) | Explanation of Consolidated Financial Results Forecast and Other Future Projections | 3 |
2. Consolidated Financial Statements | 4 | |
(1) | Consolidated Balance Sheets | 4 |
(2) | Consolidated Statements of Income and Comprehensive Income | 6 |
3. Additional Information | 8 | |
(1) | Sales Results by Segment (Consolidated) | 8 |
(2) | Status of Stores (Consolidated) | 8 |
1
1. Qualitative Information on Consolidated Financial Results for the Period under Review
- Explanation of Operating Results
During the three months ended May 31, 2022 (March 1, 2022 to May 31, 2022), the Japanese economy saw personal consumption improving gradually, as the number of new COVID-19 cases declined and priority preventative measures were lifted completely in late March. Still, the economic outlook remained uncertain primarily owing to the surge in raw material prices and the rapid depreciation of the Japanese yen.
Under such a business environment, the Company has made continued efforts to strengthen EC sales ever since COVID-19 began spreading, while at the same time working toward becoming a "proposal- based lifestyle business for discerning customers." As a result of these measures, net sales in the Apparel Business increased by ¥5,267 million year on year to ¥25,228 million and net sales in the Miscellaneous Goods/Accessories Business increased by ¥2,701 million year on year to ¥13,925 million.
As a result of the above, net sales for the three months ended May 31, 2022 increased by ¥7,973 million year on year to ¥39,183 million. In terms of profit, operating profit increased by ¥2,629 million year on year to ¥4,423 million, ordinary profit increased by ¥2,803 million year on year to ¥4,561 million, and profit attributable to owners of parent increased by ¥2,039 million year on year to ¥3,069 million.
The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and other standards from the beginning of the period under review, with the result that net sales for the period were lower than they would have been using the previous accounting method by ¥878 million (¥823 million for the Apparel Business and ¥54 million for the Miscellaneous Goods/Accessories Business), but that operating profit, ordinary profit, profit before income taxes, and profit attributable to owners of parent remained the same. For details, please refer to "2. Consolidated Financial Statements, (3) Notes to Consolidated Financial Statements (Changes in Accounting Policies) (available in the original Japanese version only)" and "3. Additional Information, (1) Sales Results by Segment."
-
Explanation of Financial Position (Assets)
Current assets increased by ¥4,393 million compared with the end of the previous fiscal year, due mainly to increases in notes and accounts receivable - trade by ¥4,108 million and merchandise and finished goods by ¥783 million, respectively, despite a decrease in cash and deposits by ¥906 million.
Non-current assets increased by ¥1,441 million compared with the end of the previous fiscal year, due primarily to an increase in buildings and structures by ¥1,097 million.
(Liabilities)
Current liabilities increased by ¥4,380 million compared with the end of the previous fiscal year, due mainly to increases in notes and accounts payable - trade by ¥1,672 million, current portion of long-term borrowings by ¥210 million, provision for bonuses by ¥1,235 million, and other current liabilities by ¥2,034 million, despite a decrease in provision for point card certificates by ¥545 million.
Non-current liabilities increased by ¥588 million compared with the end of the previous fiscal year, due primarily to increases in long-term borrowings by ¥333 million and asset retirement obligations by ¥365 million, despite a decrease in long-term lease obligations by ¥130 million.
2
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PAL Group Holdings Co. Ltd. published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2022 09:13:02 UTC.
