Valor : Quarterly Consolidated Financial Statements

(Million yen)

As of March 31,2020

As of June 30,2020

Assets

Current assets

Cash and deposits

24,687

40,637

Notes and accounts receivable - trade

12,779

12,465

Merchandise and finished goods

51,284

55,246

Raw materials and supplies

891

965

Other

14,932

14,360

Allowance for doubtful accounts

(10)

(41)

Total current assets

104,565

123,634

Non-current assets

Property, plant and equipment

Buildings and structures, net

132,628

132,781

Land

51,636

51,809

Other, net

25,167

25,766

Total property, plant and equipment

209,431

210,357

Intangible assets

Goodwill

1,390

1,351

Other

14,316

14,283

Total intangible assets

15,706

15,635

Investments and other assets

Guarantee deposits

32,102

31,731

Other

22,453

26,164

Allowance for doubtful accounts

(341)

(434)

Total investments and other assets

54,215

57,461

Total non-current assets

279,353

283,454

Total assets

383,919

407,088

(Million yen)

As of March 31,2020

As of June 30,2020

Liabilities

Current liabilities

Notes and accounts payable - trade

51,400

57,081

Short-term borrowings

47,339

54,445

Current portion of bonds payable

20

10,020

Income taxes payable

3,659

4,331

Provision for bonuses

3,143

5,348

Provisions

2,458

2,052

Asset retirement obligations

91

43

Other

33,673

33,888

Total current liabilities

141,786

167,211

Non-current liabilities

Bonds payable

10,010

10

Long-term borrowings

53,489

54,291

Provisions

627

658

Retirement benefit liability

4,743

4,825

Asset retirement obligations

12,703

12,838

Other

19,911

19,650

Total non-current liabilities

101,486

92,274

Total liabilities

243,273

259,485

Net assets

Shareholders' equity

Share capital

13,609

13,609

Capital surplus

20,076

20,075

Retained earnings

99,256

102,395

Treasury shares

(566)

(566)

Total shareholders' equity

132,375

135,514

Accumulated other comprehensive income

Valuation difference on available-for-sale

(1,865)

1,207

securities

Deferred gains or losses on hedges

0

0

Foreign currency translation adjustment

273

231

Remeasurements of defined benefit plans

(34)

(35)

Total accumulated other comprehensive income

(1,627)

1,403

Share acquisition rights

142

134

Non-controlling interests

9,754

10,551

Total net assets

140,645

147,603

Total liabilities and net assets

383,919

407,088

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the three months)

(Million yen)

For the three months

For the three months

ended June 30,2019

ended June 30,2020

Net sales

159,153

176,978

Cost of sales

118,886

129,688

Gross profit

40,267

47,289

Operating revenue

5,711

6,024

Operating gross profit

45,978

53,314

Selling, general and administrative expenses

42,703

44,275

Operating profit

3,275

9,038

Non-operating income

Interest income

34

31

Dividend income

3

2

Share of profit of entities accounted for using equity

14

22

method

Administrative service fee income

236

410

Rental income

206

218

Other

414

305

Total non-operating income

910

990

Non-operating expenses

Interest expenses

216

219

Foreign exchange losses

134

-

Rental costs on real estate

167

184

Other

77

140

Total non-operating expenses

595

544

Ordinary profit

3,590

9,485

Extraordinary income

Gain on sales of non-current assets

0

24

Gain on bargain purchase

-

17

Penalty income

9

114

Subsidy income

11

0

Reversal of allowance for doubtful accounts

16

-

Other

-

7

Total extraordinary income

37

163

Extraordinary losses

Loss on sales of non-current assets

0

12

Loss on retirement of non-current assets

6

31

Impairment loss

535

93

Loss on voluntarily close

-

702

Other

136

73

Total extraordinary losses

679

915

Profit before income taxes

2,948

8,733

Income taxes - current

1,899

4,190

Income taxes - deferred

(504)

(1,022)

Total income taxes

1,395

3,167

Profit

1,553

5,565

Profit attributable to non-controlling interests

273

920

Profit attributable to owners of parent

1,280

4,644

(Million yen)

For the three months

For the three months

ended June 30,2019

ended June 30,2020

Profit

1,553

5,565

Other comprehensive income

Valuation difference on available-for-sale securities

(337)

3,079

Deferred gains or losses on hedges

(0)

(0)

Foreign currency translation adjustment

62

(41)

Remeasurements of defined benefit plans, net of tax

3

(4)

Share of other comprehensive income of entities

(0)

(0)

accounted for using equity method

Total other comprehensive income

(272)

3,032

Comprehensive income

1,281

8,597

Comprehensive income attributable to

Comprehensive income attributable to owners of

980

7,675

parent

Comprehensive income attributable to non-controlling

300

922

interests