Kansai Super Market : Summary of Consolidated Financial Results for the Year Ended March 31, 2021 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Year Ended March 31, 2021

(Based on Japanese GAAP)

Company name:	Kansai Super Market Ltd.
Stock exchange listing:	Tokyo
Stock code:	9919	URL http://www.kansaisuper.co.jp/
Representative:	President of Representative Director	Koji Fukutani
Inquiries:	Managing Director and General Manager of	Jun Nakanishi
Administrative Planning Office
Scheduled date of ordinary general meeting of shareholders:	June 25, 2021
Scheduled date to file Securities Report:	June 28, 2021
Scheduled date to commence dividend payments:	June 28, 2021
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:		No

April 28, 2021

TEL [phone]

						(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Consolidated operating results							Percentages indicate year-on-year changes
	Operating revenue		Operating profit		Ordinary profit		Profit attributable to
				owners of parent
	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%
Year ended March 31, 2021	130,940		3.8	2,731		21.2	3,086		19.5	2,005	19.2
Year ended March 31, 2020	126,184		2.0	2,254		13.4	2,582		10.4	1,682	22.8

Note: Comprehensive income	Year ended March 31, 2021	¥2,270 million	[59.3%]
		Year ended March 31, 2020	¥1,425 million	[45.0%]
				Diluted earnings per	Profit attributable to	Ordinary profit/total	Operating profit/net
			Earnings per share	owners of
					share	parent/equity	assets		sales
			Yen		Yen		%		%	%
Year ended March 31, 2021		65.95		-		5.9		5.6	2.1
Year ended March 31, 2020		53.80		-		5.0		4.5	1.8
Reference: Share of profit (loss) of entities accounted for using equity method
Year ended March 31, 2021		¥5 million
Year ended March 31, 2020		¥(26) million
(2) Consolidated financial position
			Total assets		Net assets	Equity ratio	Net assets per share
			Millions of yen	Millions of yen		%		Yen
As of March 31, 2021			54,720		34,595		63.2		1,153.62
As of March 31, 2020			54,882		33,344		60.8		1,095.31
Reference: Equity	As of March 31, 2021	¥34,595 million
	As of March 31, 2020	¥33,344 million
(3) Consolidated cash flows
			Cash flows from		Cash flows from	Cash flows from	Cash and cash equivalents
			operating activities	investing activities	financing activities		at end of period
			Millions of yen	Millions of yen	Millions of yen		Millions of yen
Year ended March 31, 2021		4,120		(2,157)		(2,722)		4,329
Year ended March 31, 2020			760		(3,012)		(3,762)		5,089

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2. Cash dividends

							Annual dividends per share				Total cash	Dividend payout	Ratio of dividends
																	to net assets
			1st quarter-end		2nd quarter-end	3rd quarter-end	Fiscal year-end		Total		dividends (Total)	ratio (Consolidated)	(Consolidated)
				Yen		Yen			Yen	Yen			Yen		Millions of yen		%	%
Year ended March 31, 2020			-		8.00				-	8.00		16.00		495		29.7	1.5
Year ended March 31, 2021			-		8.00				-	10.00		18.00		544		27.3	1.6
Year ending March 31, 2022			-		8.00				-	8.00		16.00					23.8
(Forecast)
Note: Breakdown of year-end dividend for the fiscal year ended March 31, 2021
Ordinary dividend	¥8.00		Special dividend	¥2.00
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
															Percentages indicate year-on-year changes
	Operating revenue			Operating profit			Ordinary profit		Profit attributable to	Earnings per share
							owners of parent
Six months ending	Millions of yen	%		Millions of yen		%	Millions of yen		%	Millions of yen		%		Yen
	64,660	-		1,360		-		1,510		-		1,000		-		33.35
September 30, 2021
Full year		129,090	-		2,820		-		3,110		-		2,020		-		67.36

Note: As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022, the above forecasts of the consolidated financial results are the amounts after the application of the said accounting standard, etc., and the percentage change from the previous fiscal year and the same quarter of the previous year are not stated. The following presents percentage changes that were calculated based on the hypothetical assumption that the above accounting standard, etc. had been applied for the fiscal year ended March 31, 2021.

Six months ending September 30, 2021: Operating revenue: up 0.1%, operating profit: down 27.8%, ordinary profit: down 26.6%, profit attributable to owners of parent: down 26.9%

Full year:Operating revenue: up 0.0%, operating profit: up 3.2%, ordinary profit: up 0.8%, profit attributable to owners of parent: up 0.7%

4. Notes

(1)	Changes in significant subsidiaries during the year ended March 31, 2021	No
	(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2)	Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
	Changes in accounting policies due to revisions to accounting standards and other regulations:	No
	Changes in accounting policies due to other reasons:	No
	Changes in accounting estimates:	No
	Restatement of prior period financial statements:	No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of March 31, 2021	31,940,954	shares	As of March 31, 2020	31,940,954	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	1,951,827	shares	As of March 31, 2020	1,497,742	shares
Average number of shares during the period
	Year ended March 31, 2021	30,405,322	shares	Year ended March 31, 2020	31,276,842	shares

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Reference: Summary of non-consolidated financial results
1. Non-consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Non-consolidated operating results								(Percentages indicate year-on-year changes)
		Operating revenue	Operating profit	Ordinary profit		Profit
		Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%
Year ended March 31, 2021		126,671		3.9	2,227		25.0	2,901		15.7	1,967	12.7
Year ended March 31, 2020		121,966		2.0	1,782		14.2	2,507		7.2	1,746	18.2
		Earnings per share	Diluted earnings per
						share
			Yen		Yen
Year ended March 31, 2021		64.63		-
Year ended March 31, 2020		55.76		-
(2) Non-consolidated financial position
		Total assets		Net assets		Equity ratio		Net assets per share
			Millions of yen	Millions of yen			%		Yen
As of March 31, 2021			51,753				32,531			62.9	1,083.54
As of March 31, 2020			51,909				31,386			60.5	1,029.81
Reference: Equity	As of March 31, 2021			¥32,531 million
	As of March 31, 2020			¥31,386 million

2. Non-consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

(Percentages indicate year-on-year changes)

	Operating revenue		Ordinary profit		Profit		Earnings per share
Six months ending	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
62,510		-	1,580		-	1,140	-	37.97
September 30, 2021
Full year	124,790		-	2,920		-	1,980	-	65.95

Note: As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022, the above forecasts of the non-consolidated financial results are the amounts after the application of the said accounting standard, etc., and the percentage change from the previous fiscal year and the same quarter of the previous year are not stated.

The following presents percentage changes that were calculated based on the hypothetical assumption that the above accounting standard, etc. had been applied for the fiscal year ended March 31, 2021.

Six months ending September 30, 2021: Operating profit: up 0.1%, ordinary profit: down 25.2%, profit: down 23.8%

Full year:

Operating profit: up 0.0%, ordinary profit: up 0.6%, profit: up 0.6%

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of forecasts of financial results, and other special matters (Caution concerning forward-looking statements)
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual performance and other results may differ materially due to various factors.
  (How to obtain supplementary material on financial results)
  The supplementary material on financial results is disclosed on the same day on TDNet.

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Consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	7,939,118	6,879,294
Accounts receivable - trade	1,861,073	1,748,865
Merchandise	2,549,376	2,454,843
Supplies	59,870	64,324
Other	1,565,562	1,462,862
Total current assets	13,975,000	12,610,189
Non-current assets
Property, plant and equipment
Buildings and structures	34,051,437	35,212,398
Accumulated depreciation	(24,869,853)	(25,379,672)
Buildings and structures, net	9,181,584	9,832,726
Machinery, equipment and vehicles	957,114	1,046,745
Accumulated depreciation	(849,449)	(824,163)
Machinery, equipment and vehicles, net	107,665	222,581
Land	20,885,024	21,072,924
Leased assets	2,723,917	2,011,350
Accumulated depreciation	(1,614,283)	(1,243,548)
Leased assets, net	1,109,634	767,802
Construction in progress	1,500	-
Other	6,754,944	7,323,894
Accumulated depreciation	(5,686,432)	(5,686,627)
Other, net	1,068,512	1,637,267
Total property, plant and equipment	32,353,921	33,533,302
Intangible assets	431,082	439,304
Investments and other assets
Investment securities	1,502,148	1,755,394
Guarantee deposits	4,546,617	4,374,895
Retirement benefit asset	861,737	970,782
Deferred tax assets	1,116,817	980,570
Other	95,208	55,737
Total investments and other assets	8,122,529	8,137,380
Total non-current assets	40,907,533	42,109,987
Total assets		54,882,533	54,720,176

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			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Liabilities
Current liabilities
Accounts payable - trade	8,013,288	7,585,272
Current portion of long-term borrowings	1,332,000	1,204,000
Lease obligations	522,531	426,968
Income taxes payable	655,030	631,937
Provision for bonuses	951,549	1,026,856
Other	3,803,113	4,402,747
Total current liabilities	15,277,512	15,277,782
Non-current liabilities
Long-term borrowings	2,358,000	1,314,000
Lease obligations	992,804	622,313
Retirement benefit liability	852,269	876,446
Asset retirement obligations	491,592	517,599
Other	1,565,675	1,516,082
Total non-current liabilities	6,260,341	4,846,441
Total liabilities	21,537,854	20,124,223
Net assets
Shareholders' equity
Share capital	9,862,933	9,862,933
Capital surplus	10,906,837	10,906,837
Retained earnings	14,034,076	15,551,557
Treasury shares	(1,329,217)	(1,860,954)
Total shareholders' equity	33,474,630	34,460,374
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	47,011	253,416
Remeasurements of defined benefit plans	(176,961)	(117,838)
Total accumulated other comprehensive income	(129,950)	135,578
Total net assets	33,344,679	34,595,953
Total liabilities and net assets		54,882,533	54,720,176

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