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    3382   JP3422950000

SEVEN & I HOLDINGS CO., LTD.

(3382)
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Seven & i : Brief Summary for the Second Quarter of FY2022

10/07/2021 | 02:07am EST

Brief Summary

for the Second Quarter of FY2022

Contents

Consolidated Results

Ⅰ.Financial Results

P1

Ⅱ.Major Factors for the Change

P2

Ⅲ.Segment Information

P3

Ⅳ.Interest-Bearing Debt & Ratings

P4

Ⅴ.Consolidated Balance Sheets

P6

Ⅵ.Consolidated Statements of Income

P7

Ⅶ.Consolidated Statements of Cash Flows

P8

Financial Results and Business Performance of Major Companies

Ⅰ.Domestic Convenience Store Operations

P9

Ⅱ.Overseas Convenience Store Operations

P10

Ⅲ.Superstore Operations

P11

Ⅳ.Department and Specialty Store Operations

P13

Ⅴ.Financial Services

P14

Ⅵ.Group Strategy

P15

Ⅶ.Capital Expenditures, Depreciation and Amortization of Major Companies P16

Store Information

Ⅰ.Number of Stores and Store Openings / Closures of Major Companies

P17

Ⅱ.Store Information in Domestic / Overseas Convenience Store Operations

P18

Ⅲ.Store Information in Superstore Operations

P19

Ⅳ.Number of Stores by Type

P20

Ⅴ.Sales Floor Space

P20

October 7, 2021 Seven & i Holdings Co., Ltd.

Consolidated Results

Ⅰ.Financial Results

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Fiscal Year Ending

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

Feb. 28, 2022 (Forecast)

YOY(%)

YOY(%)

YOY(%)

YOY(%)

Group's total sales

5,421,167

90.4

6,376,464

117.6

11,044,874

92.1

13,812,000

125.1

Revenues from operations

2,788,408

84.2

3,646,449

130.8

5,766,718

86.8

8,309,000

144.1

Domestic convenience store operations

428,708

-

445,805

104.0

858,776

95.6

891,000

103.8

Overseas convenience store operations

1,081,815

-

1,887,821

174.5

2,253,355

80.1

4,721,000

209.5

Superstore operations

888,869

-

901,190

101.4

1,810,884

97.9

1,832,000

101.2

Department and specialty store operations

310,210

-

332,432

107.2

684,660

75.1

708,000

103.4

Financial services

100,234

-

96,598

96.4

198,927

91.5

204,000

102.5

Others

7,684

-

9,406

122.4

17,323

87.9

20,000

115.5

Eliminations / Corporate

(29,114)

-

(26,805)

-

(57,209)

-

(67,000)

-

Operating income (loss)

179,738

87.6

186,170

103.6

366,329

86.3

380,000

103.7

Domestic convenience store operations

118,313

-

123,341

104.3

233,700

91.6

245,600

105.1

Overseas convenience store operations

41,888

-

57,197

136.5

98,664

95.5

128,800

130.5

Superstore operations

17,768

-

11,024

62.0

29,681

139.3

23,800

80.2

Department and specialty store operations

(10,514)

-

(7,771)

-

(17,444)

-

(9,200)

-

Financial services

25,012

-

20,409

81.6

48,077

89.7

33,100

68.8

Others

(1,088)

-

314

-

(570)

-

(500)

-

Eliminations / Corporate

(11,642)

-

(18,346)

-

(25,779)

-

(41,600)

-

Ordinary income

175,241

86.2

173,450

99.0

357,364

85.5

343,500

96.1

Special gains

3,805

158.7

13,618

357.9

10,433

122.0

Special losses

61,550

205.4

27,240

44.3

109,022

136.3

Income before income taxes

117,496

66.9

159,828

136.0

258,776

74.7

Net

income attributable to owners of parent

72,519

65.5

106,500

146.9

179,262

82.2

190,000

106.0

EBITDA

308,611

93.9

341,294

110.6

626,874

93.0

738,300

117.8

ROA (%)

2.8

ROE

(%)

6.8

Net income per share (EPS) (yen)

82.14

65.6

120.61

146.8

203.03

82.2

215.16

106.0

EPS before amortization of goodwill (yen)

96.23

69.5

147.24

153.0

231.39

84.6

292.50

126.4

Number of shares outstanding

Average

882,894,455

883,018,111

882,927,577

End

of period

882,958,016

883,110,806

882,966,279

Exchange rates

(yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Fiscal Year Ending

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

Feb. 28, 2022 (Forecast)

Income statements

U.S.$1=

108.23

107.82

106.76

108.00

1yuan=

15.38

16.67

15.48

16.00

Balance sheets

U.S.$1=

107.74

110.58

103.50

-

1yuan=

15.23

17.11

15.88

-

EBITDA

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Fiscal Year Ending

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

Feb. 28, 2022 (Forecast)

YOY(%)

YOY(%)

YOY(%)

YOY(%)

Total

308,611

93.9

341,294

110.6

626,874

93.0

738,300

117.8

Domestic convenience store operations

156,947

-

162,823

103.7

312,131

94.5

Overseas convenience store operations

93,605

-

131,049

140.0

202,509

100.4

Superstore operations

32,571

-

26,521

81.4

59,710

118.3

Department and specialty store operations

(3,051)

-

(398)

-

(2,383)

-

Financial services

39,336

-

35,752

90.9

77,202

93.0

Others

(523)

-

737

-

445

-

Eliminations / Corporate

(10,274)

-

(15,191)

-

(22,741)

-

Notes: 1.

Group's total sales include the sales of Seven-Eleven Japan, Seven-Eleven Okinawa and 7-Eleven, Inc. franchisees.

2."Eliminations / Corporate" in operating income mainly reflects the Company's operating expenses relating to the Group strategy.

3.

EBITDA: Operating income + Depreciation and amortization + Amortization of goodwill* *Amortization of goodwill: Only figure included in SG&A expenses

  1. ROA: Net income attributable to owners of parent / Average of total assets at the beginning and the end of each fiscal year
  2. ROE: Net income attributable to owners of parent / Average of owners' equity* *Owners' equity: Net assetsSubscription rights to sharesNon-controlling interests at the beginning and the end of each fiscal year
  3. EPS: Net income attributable to owners of parent / Weighted average shares outstanding during the period
  4. EPS before amortization of goodwill: (Net income attributable to owners of parent + Amortization of goodwill) / Weighted average shares outstanding during the period
  5. Number of shares outstanding at each fiscal year-end and of weighted average shares over each fiscal period do not include treasury stock. Seven & i Holdings introduced the BIP Trust and ESOP Trust and its shares held by these Trusts are included in the number of treasury stocks.

- 1 -

Consolidated Results-

Ⅱ.Major Factors for the Change

(Millions of yen)

(Billions of yen)

Six Months Ended

Aug. 31, 2021

Major Factors for the Change

Change

Group's total sales*1

6,376,464

+955,297

Total store sales at Seven-Eleven Japan: +64.6

Total store sales at 7-Eleven, Inc.: +841.5

[Effect of exchange rate: (5.3)]

Revenues from operations

3,646,449

+858,040

Domestic CVS: +17.0, Overseas CVS: +806.0, Superstore: +12.3,

Department and specialty store: +22.2, Financial services: (3.6)

[Effect of exchange rate: (2.7)]

Operating income (loss)

186,170

+6,431

[Effect of exchange rate: (0.19)]

Domestic convenience

123,341

+5,028

Seven-Eleven Japan: +4.8

store operations

Sales: +11.3, Gross profit margin: (1.1), SG&A expenses: (5.3)

Others: +0.15

Overseas convenience

57,197

+15,308

7-Eleven, Inc.: +25.5 [of which, effect of exchange rate: (0.29)]

store operations

Sales: +115.4, Gross profit margin*2: (3.5), SG&A expenses: (86.3)

Others: +0.84

Amortization of goodwill: (11.0) [of which, effect of exchange rate: +0.08]

Superstore operations

11,024

(6,744)

Ito-Yokado: (1.9)

Sales: (0.17), Gross profit margin: (5.1), SG&A expenses: +3.3

York-Benimaru: (3.2)

Sales: (0.43), Gross profit margin: (1.7), SG&A expenses: (1.1)

Life Foods*3: +0.45

Others: (2.0)

Department and

(7,771)

+2,743

Sogo & Seibu: (1.3)

specialty store operations

Sales: +2.7, Gross profit margin: +0.39, SG&A expenses: (4.5)

Seven & i Food Systems: +2.2

Nissen Holdings [Consolidated]: (0.14)

Others: +2.0

Financial services

20,409

(4,603)

Others

314

+1,402

Eliminations / Corporate*4

(18,346)

(6,704)

Ordinary income

173,450

(1,791)

Increase in non-operating expenses

Income before income taxes

159,828

+42,331

Decrease in special losses

Net income attributable to

106,500

+33,980

owners of parent

*1. Group's total sales include the sales of Seven-Eleven Japan, Seven-Eleven Okinawa and 7-Eleven, Inc. franchisees.

*2. Growth in gross profit on merchandise sales was outweighed by a decrease in gross profit on gasoline sales, leading to an overall decline in the gross margin.

*3. Life Foods is a wholly owned subsidiary which produces and sells delicatessen in York-Benimaru stores.

*4. Eliminations / Corporate in operating income mainly reflect the Company's operating expenses relating to the Group strategy.

- 2 -

Consolidated Results-

Ⅲ.Segment Information

Business segment information

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Fiscal Year Ending

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

Feb. 28, 2022 (Forecast)

YOY(%)

YOY(%)

Composition(%)

YOY(%)

YOY(%)

Capital expenditures

157,280

92.8

201,223

127.9

100.0

377,299

104.5

489,800

129.8

Domestic convenience store operations

71,871

-

48,482

67.5

24.1

128,131

125.7

123,900

96.7

Overseas convenience store operations

59,074

-

77,470

131.1

38.5

146,067

106.6

198,500

135.9

Superstore operations

16,169

-

29,952

185.2

14.9

48,411

102.3

69,900

144.4

Department and specialty store operations

17,272

-

6,728

39.0

3.3

26,160

116.8

14,800

56.6

Financial services

18,998

-

18,547

97.6

9.2

39,328

108.9

40,400

102.7

Others

780

-

325

41.6

0.2

972

47.1

3,100

318.9

Eliminations / Corporate

(26,887)

-

19,717

-

9.8

(11,771)

-

39,200

-

Depreciation and amortization

116,435

104.3

131,608

113.0

100.0

235,504

104.0

290,000

123.1

Domestic convenience store operations

38,633

-

39,481

102.2

30.0

78,430

104.6

82,500

105.2

Overseas convenience store operations

41,240

-

52,296

126.8

39.7

82,725

105.1

126,000

152.3

Superstore operations

13,252

-

13,947

105.2

10.6

26,929

103.3

27,800

103.2

Department and specialty store operations

7,231

-

7,140

98.7

5.4

14,598

101.8

13,600

93.2

Financial services

14,144

-

15,164

107.2

11.5

28,766

99.1

30,300

105.3

Others

564

-

422

74.8

0.3

1,016

94.6

1,000

98.4

Eliminations / Corporate

1,368

-

3,154

230.6

2.4

3,038

135.7

8,800

289.6

Amortization of goodwill

12,437

105.5

23,516

189.1

100.0

25,040

106.2

68,300

272.8

Domestic convenience store operations

-

-

-

-

-

-

-

Overseas convenience store operations

10,476

-

21,555

205.8

91.7

21,119

107.5

Superstore operations

1,549

-

1,549

100.0

6.6

3,098

100.0

Department and specialty store operations

231

-

231

100.0

1.0

462

100.0

Financial services

179

-

179

100.0

0.8

359

100.0

Others

-

-

-

-

-

-

-

Corporate

-

-

-

-

-

-

-

Impairment loss

12,063

79.0

8,856

73.4

100.0

35,484

100.0

Domestic convenience store operations

6,692

-

5,714

85.4

64.5

8,859

75.1

Overseas convenience store operations

213

-

185

86.6

2.1

5,911

165.8

Superstore operations

866

-

1,178

136.0

13.3

11,589

114.7

Department and specialty store operations

2,791

-

1,774

63.6

20.0

7,585

143.0

Financial services

0

-

-

-

-

1

0.0

Others

1,492

-

4

0.3

0.0

1,529

-

Eliminations / Corporate

5

-

-

-

-

7

49.7

Notes: 1. Capital expenditures include long-term leasehold deposits, advances for store construction, and investments related to store openings for each fiscal year and beyond,

Notes: 2. and do not include the increase of future amortization of assets under the Accounting Standard for Asset Retirement Obligations.

Notes: 2. Figures for actual results do not include goodwill and others related to the acquisition of stores, etc.

Notes: 2. "Eliminations / Corporate" in capital expenditures mainly reflects inter-segment transactions of non-current assets within Group and capital expenditures

Notes: 2. relating to the Group strategy.

Notes: 2. Depreciation and amortization include 2,350 million yen, 796 million yen and 2,596 million yen recorded as "Loss related to norvel coronavirus

Notes: (COVID-19)" in the consolidated income statements for the six months ended August 31, 2020 and 2021, and the fiscal year ended February 28, 2021.

Notes: 3. "Eliminations / Corporate" in depreciation and amortization mainly reflects the Company's depreciation and amortization relating to the Group strategy.

Notes: 3. Amortization of goodwill include only the amount recorded on SG&A expenses.

Notes: 4. Impairment losses respectively include 1,128 million yen, 249 million yen, and 3,879 million yen recorded as "Restructuring expenses"

Notes: in the consolidated income statements for the six months ended August 31, 2020 and 2021, and the fiscal year ended February 28, 2021.

- 3 -

Consolidated Results-

Geographic area segment information

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

YOY(%)

YOY(%)

Composition(%)

YOY(%)

Revenues from operations

2,788,408

84.2

3,646,449

130.8

-

5,766,718

86.8

Japan

1,669,384

89.3

1,714,327

102.7

47.0

3,435,146

91.7

North America

1,072,626

77.4

1,876,351

174.9

51.4

2,232,234

80.2

Others

47,170

79.3

56,666

120.1

1.6

100,707

85.3

Eliminations

(771)

-

(894)

-

-

(1,371)

-

Operating income

179,738

87.6

186,170

103.6

-

366,329

86.3

Japan

136,648

83.0

128,053

93.7

68.7

266,096

82.8

North America

42,916

105.9

57,890

134.9

31.1

99,582

97.8

Others

336

289.6

392

116.5

0.2

805

67.2

Eliminations

(162)

-

(166)

-

-

(154)

-

Note: "Others" consists of the business results in the P.R.C., etc.

Ⅳ.Interest-Bearing Debt & Ratings

Interest-bearing debt

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

YOY(%)/change

YOY(%)/change

YOY(%)/change

Short-term loans

344,072

224.4

624,082

181.4

619,953

478.9

Current portion of long-term loans

104,583

95.2

143,795

137.5

146,747

165.9

Current portion of bonds

-

-

126,917

-

66,917

83.6

Subtotal

448,656

130.7

894,795

199.4

833,618

279.8

Long-term loans

435,624

102.2

515,309

118.3

362,592

89.9

Bonds

281,916

100.0

1,705,878

605.1

565,000

200.4

Subtotal

717,541

101.3

2,221,187

309.6

927,592

135.4

Total

1,166,197

110.9

3,115,983

267.2

1,761,210

179.2

Ratio to total assets (%)

18.9

+1.3

35.7

+16.8

25.4

+9.0

Ratio to owners' equity (%)

44.6

+2.8

109.2

+64.6

66.0

+28.2

Debt / EBITDA multiple (X)

-

-

-

-

2.81

+1.35

Interest-bearing debt by business segment

(Millions of yen)

Six Months Ended

Six Months Ended

Fiscal Year Ended

Aug. 31, 2020

Aug. 31, 2021

Feb. 28, 2021

YOY(%)

YOY(%)

YOY(%)

Domestic convenience store

-

-

-

-

-

-

operations

Overseas convenience store

333,925

-

1,645,590

492.8

281,974

128.7

operations

Superstore operations

-

-

-

-

-

-

Department and

195,768

-

180,204

92.1

187,191

104.7

specialty store operations

Others

-

-

-

-

-

-

Corporate

326,916

-

1,008,917

308.6

1,008,917

425.9

Subtotal

856,610

121.8

2,834,713

330.9

1,478,083

232.9

Financial services

309,586

89.0

281,270

90.9

283,127

81.3

Total

1,166,197

110.9

3,115,983

267.2

1,761,210

179.2

- 4 -

Consolidated Results-Ⅲ・Ⅳ

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Seven & I Holdings Co. Ltd. published this content on 07 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2021 06:06:08 UTC.


© Publicnow 2021
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Sales 2022 8 267 B 72 718 M 72 718 M
Net income 2022 208 B 1 829 M 1 829 M
Net Debt 2022 1 306 B 11 489 M 11 489 M
P/E ratio 2022 20,0x
Yield 2022 2,21%
Capitalization 4 085 B 35 938 M 35 934 M
EV / Sales 2022 0,65x
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Nbr of Employees 57 270
Free-Float 83,9%
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Technical analysis trends SEVEN & I HOLDINGS CO., LTD.
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Number of Analysts 14
Last Close Price 4 626,00 JPY
Average target price 6 218,57 JPY
Spread / Average Target 34,4%
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Ryuichi Isaka President & Representative Director
Yoshimichi Maruyama General Manager-Finance & Accounting
Toshiro Yonemura Independent Outside Director
Kunio Ito Independent Outside Director
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