Bic Cameras Inc.TSE: 3048

Consolidated Fiscal year ended August 31, 2023

Nov 22, 2023 at 3:55 AM UTC · Issued by Bic Cameras Inc.

Fact Book

Year ended August 31, 2023

(FY2023 : Sep 1, 2022 - Aug 31, 2023)

BicCamera INC.

Fact Book BicCamera

[Consolidated] Financial results

【Full Year】					(million yen)
Amount	FY2019	FY2020	FY2021	FY2022	FY2023
Net sales	894,021	847,905	834,060	792,368	815,560

Cost of sales	650,576	616,899	595,501	578,525	597,687

Gross profit	243,444	231,005	238,558	213,843	217,873

SG&A expenses	220,500	218,939	220,340	195,980	203,657

Operating profit	22,943	12,066	18,217	17,863	14,215

Ordinary profit	25,871	14,690	21,629	20,808	16,566

Profit attributable to owners of parent	14,047	5,450	8,761	5,765	2,936

					（%）

Sales ratio	FY2019	FY2020	FY2021	FY2022	FY2023
Cost of sales	72.8	72.8	71.4	73.0	73.3

Gross profit	27.2	27.2	28.6	27.0	26.7

SG&A expenses	24.7	25.8	26.4	24.7	25.0

Operating profit	2.6	1.4	2.2	2.3	1.7

Ordinary profit	2.9	1.7	2.6	2.6	2.0

Profit attributable to owners of parent	1.6	0.6	1.1	0.7	0.4

【First Half】					(million yen)
Amount	FY2019 1H	FY2020 1H	FY2021 1H	FY2022 1H	FY2023 1H
Net sales	441,897	436,588	421,211	392,360	407,653

Cost of sales	321,918	318,050	302,547	287,763	300,271

Gross profit	119,979	118,537	118,664	104,596	107,382

SG&A expenses	107,319	110,871	108,407	95,156	99,999

Operating profit	12,659	7,665	10,256	9,439	7,382

Ordinary profit	13,938	9,096	12,121	10,665	8,422

Profit attributable to owners of parent	8,311	4,854	5,689	4,770	4,205

					（%）

Sales ratio	FY2019 1H	FY2020 1H	FY2021 1H	FY2022 1H	FY2023 1H
Cost of sales	72.8	72.8	71.8	73.3	73.7

Gross profit	27.2	27.2	28.2	26.7	26.3

SG&A expenses	24.3	25.4	25.7	24.3	24.5

Operating profit	2.9	1.8	2.4	2.4	1.8

Ordinary profit	3.2	2.1	2.9	2.7	2.1

Profit attributable to owners of parent	1.9	1.1	1.4	1.2	1.0

【Second Half】					(million yen)

Amount	FY2019 2H	FY2020 2H	FY2021 2H	FY2022 2H	FY2023 2H
Net sales	452,123	411,317	412,848	400,008	407,906

Cost of sales	328,658	298,848	292,954	290,761	297,415

Gross profit	123,465	112,468	119,894	109,247	110,491

SG&A expenses	113,181	108,067	111,933	100,823	103,657

Operating profit	10,283	4,401	7,961	8,423	6,833

Ordinary profit	11,932	5,594	9,508	10,142	8,143

Profit attributable to owners of parent	5,736	595	3,072	995	(1,268)

					（%）
Sales ratio	FY2019 2H	FY2020 2H	FY2021 2H	FY2022 2H	FY2023 2H
Cost of sales	72.7	72.7	71.0	72.7	72.9

Gross profit	27.3	27.3	29.0	27.3	27.1

SG&A expenses	25.0	26.3	27.1	25.2	25.4

Operating profit	2.3	1.1	1.9	2.1	1.7

Ordinary profit	2.6	1.4	2.3	2.5	2.0

Profit attributable to owners of parent	1.3	0.1	0.7	0.2	(0.3)

- 2 -

Fact Book BicCamera

[Consolidated] Total asset, Liabilities and Net assets

【Full Year】					(million yen)
	FY2019	FY2020	FY2021	FY2022	FY2023
	As of Aug.2019	As of Aug.2020	As of Aug.2021	As of Aug.2022	As of Aug.2023
Total net assets	163,342	169,791	179,523	169,133	176,383

Total assets	400,451	472,074	454,466	456,466	449,840

Equity capital	133,902	137,078	143,730	131,375	137,173

Total interest-bearing debt	91,236	150,703	150,689	133,498	123,565
Short-term interest bearing debt	60,073	54,514	82,612	88,565	98,852
Long-term interest bearing debt	31,163	96,188	68,076	44,932	24,712


	FY2019	FY2020	FY2021	FY2022	FY2023
BPS（JPY）	761.10	779.15	816.94	767.54	801.38

EPS（JPY）	79.09	30.98	49.80	33.22	17.16

Equity ratio（%）	33.4	29.0	31.6	28.8	30.5

ROE（%）	10.6	4.0	6.2	4.2	2.2

ROA（%）	6.8	3.4	4.7	4.6	3.7

Debt equity ratio（times）	0.7	1.1	1.0	1.0	0.9

【First Half】					(million yen)

	FY2019	FY2020	FY2021	FY2022	FY2023
	As of Feb.2019	As of Feb.2020	As of Feb.2022	As of Feb.2022	As of Feb.2023
Total net assets	162,192	167,017	176,919	171,216	173,127

Total assets	394,470	400,579	466,309	468,204	464,948

Equity capital	134,944	137,221	142,635	134,867	134,851

Total interest-bearing debt	103,796	104,684	161,369	145,218	139,162
Short-term interest bearing debt	68,298	76,297	83,635	88,935	105,460
Long-term interest bearing debt	35,498	28,386	77,734	56,282	33,701


	FY2019	FY2020	FY2021	FY2022	FY2023
BPS（JPY）	756.28	779.96	810.71	775.88	787.83

EPS（JPY）	46.58	27.59	32.34	27.16	24.57

Equity ratio（%）	34.2	34.3	30.6	28.8	29.0

ROE（%）	6.3	3.6	4.1	3.4	3.2

ROA（%）	3.7	2.3	2.6	2.3	1.8

Debt equity ratio（times）	0.8	0.8	1.1	1.1	1.0

- 3 -

Fact Book BicCamera

[Consolidated] Sales by Product

(million yen, %)

			FY2019	FY2020	FY2021	FY2022	FY2023
			Sep.2018 - Aug.2019	Sep.2019 - Aug.2020	Sep.2020 - Aug.2021	Sep.2021 - Aug.2022	Sep.2022 - Aug.2023
			Amount	Composition	Amount	Composition	Amount	Composition	Amount	Composition	Amount	Composition
			ratio	ratio	ratio	ratio	ratio

	Audio visual products	141,101	15.7	132,985	15.7	127,739	15.3	116,425	14.7	112,385	13.8

		Cameras	36,956	4.1	25,173	3.0	22,571	2.7	23,542	3.0	26,339	3.2

		TVs	40,946	4.6	47,485	5.6	50,197	6.0	43,201	5.5	37,441	4.6

		BD/DVD recorders, Video cameras	15,850	1.8	14,984	1.8	13,695	1.6	10,687	1.3	9,347	1.2

		Audios	14,738	1.6	13,806	1.6	11,995	1.4	10,713	1.3	10,602	1.3

		Others	32,608	3.6	31,535	3.7	29,279	3.6	28,279	3.6	28,655	3.5

	Home appliances	277,638	31.1	275,280	32.5	279,264	33.5	261,878	33.0	256,449	31.4

		Refrigerators	40,705	4.6	42,913	5.1	43,085	5.2	41,605	5.2	38,556	4.7

		Washing machines	38,845	4.3	40,415	4.8	41,986	5.0	41,128	5.2	41,992	5.1

		Kitchen appliances	37,874	4.2	36,296	4.3	34,170	4.1	32,439	4.1	31,424	3.9

		Seasonal home electronics	59,741	6.7	58,464	6.9	71,606	8.6	60,998	7.7	56,332	6.9

		Personal care electronics	47,789	5.4	43,357	5.1	37,838	4.5	39,389	5.0	43,778	5.4

		Others	52,682	5.9	53,831	6.3	50,576	6.1	46,317	5.8	44,364	5.4

Information communications	285,112	31.9	269,014	31.7	270,466	32.4	262,778	33.2	258,207	31.7
equipment products


		PCs	75,030	8.4	84,726	10.0	77,396	9.3	66,214	8.4	60,810	7.5

		PC peripherals	27,239	3.0	28,664	3.4	30,845	3.7	30,176	3.8	27,548	3.4

		Cellular phones	123,190	13.8	100,150	11.8	108,447	13.0	117,866	14.9	123,871	15.2

		Others	59,652	6.7	55,472	6.5	53,777	6.4	48,520	6.1	45,978	5.6

	Other products	176,293	19.7	158,312	18.7	143,693	17.3	138,090	17.4	175,352	21.5

		Video Games	35,010	3.9	40,434	4.8	43,783	5.3	36,147	4.6	46,905	5.8

		Watches	24,313	2.7	15,889	1.9	11,246	1.4	10,335	1.3	12,344	1.5

		Used PCs	9,251	1.0	10,046	1.2	10,106	1.2	16,039	2.0	29,485	3.6

		Sporting goods	11,672	1.3	10,083	1.2	10,061	1.2	9,552	1.2	10,722	1.3

		Toys	14,225	1.6	12,664	1.5	11,455	1.4	11,897	1.5	14,848	1.8

		Glasses and Contact lenses	6,856	0.8	5,246	0.6	4,360	0.5	4,436	0.5	4,718	0.6

		Liquors and Soft drinks	8,112	0.9	6,829	0.8	5,909	0.7	5,474	0.7	6,352	0.8

		Medicines and Daily goods	21,215	2.4	14,243	1.7	8,691	1.0	8,775	1.1	12,130	1.5

		Others	45,633	5.1	42,874	5.0	38,078	4.6	35,431	4.5	37,844	4.6

	Retail goods sales	880,145	98.4	835,593	98.6	821,164	98.5	779,172	98.3	802,395	98.4

	BS digital broadcasting business	11,713	1.3	10,568	1.2	11,188	1.3	11,478	1.5	11,537	1.4

	Other business	2,162	0.3	1,743	0.2	1,707	0.2	1,717	0.2	1,627	0.2

	Total	894,021	100.0	847,905	100.0	834,060	100.0	792,368	100.0	815,560	100.0

* Above amount does not include consumption taxes.

- 4 -

Fact Book BicCamera

[Consolidated] Balance Sheets

								(million yen)

				FY2019	FY2020	FY2021	FY2022	FY2023
				As of Aug.2019	As of Aug.2020	As of Aug.2021	As of Aug.2022	As of Aug.2023
Assets

	Total current assets	208,936	273,809	258,077	252,258	247,245

		Cash and deposits	25,791	117,211	108,973	91,081	75,135
		Accounts receivable - trade	39,008	40,986	37,501	41,672	44,540
		Merchandise and finished goods	127,954	100,925	98,584	100,872	105,260

	Total non-current assets	191,514	198,265	196,388	204,207	202,595

		Total property, plant and equipment	87,509	90,374	85,774	87,030	83,104

			Buildings and structures, net	30,385	29,314	27,041	27,912	25,547
			Machinery, equipment and vehicles, net	1,358	1,305	1,643	4,074	3,680
			Land	46,998	46,983	46,984	47,594	47,747
			Leased assets, net	2,730	2,242	1,720	1,222	1,016
			Construction in progress	555	877	837	279	68

		Total intangible assets	23,105	25,379	31,040	30,222	31,990

			Goodwill	3,630	3,240	4,742	5,496	5,303

		Total investments and other assets	80,898	82,510	79,574	86,954	87,500

			Investment securities	13,626	14,553	12,229	13,192	16,918
			Long-term loans receivable	182	835	1,078	416	1,798
			Deferred tax assets	20,785	21,541	20,812	24,466	20,863
			Retirement benefit asset	2,913	2,885	3,041	2,942	3,138
			Guarantee deposits	42,529	41,731	41,809	41,094	40,641

Total assets	400,451	472,074	454,466	456,466	449,840

* Excerpt major Accounts.

- 5 -

Fact Book BicCamera

							(million yen)

			FY2019	FY2020	FY2021	FY2022	FY2023
			As of Aug.2019	As of Aug.2020	As of Aug.2021	As of Aug.2022	As of Aug.2023
Liabilities

	Total current liabilities	173,927	173,957	173,589	197,781	204,862

		Accounts payable - trade	58,387	58,301	38,098	42,810	39,919
		Short-term borrowings	50,224	32,176	56,496	65,006	78,000
		Current portion of long-term borrowings	8,954	21,477	25,387	22,954	20,304
		Current portion of bonds payble	-	200	200	200	200
		Lease obligations	894	660	528	404	348
		Provision for bonuses	3,378	3,241	3,527	3,867	4,358
		Provision for point card certificates	12,922	13,159	13,029	-	-
		Provision for loss on store closing	260	278	203	506	135

	Total non-current liabilities	63,181	128,326	101,353	89,551	68,593

		Bonds payable	-	800	600	400	200
		Long-term borrowings	29,375	93,959	66,491	43,945	24,022
		Lease obligations	1,788	1,428	985	587	490
		Provision for goods warranties	824	592	402	262	178
		Provision for loss on store closing	741	467	438	458	387
		Retirement benefit liability	16,320	17,201	18,323	19,767	19,347
		Asset retirement obligations	9,239	9,285	9,230	10,187	10,387

	Total liabilities	237,108	302,283	274,942	287,332	273,456

Net assets

	Total shareholders' equity	133,030	134,965	142,287	130,097	130,764

		Share capital	25,929	25,929	25,929	25,929	25,929
		Capital surplus	27,139	27,140	27,103	27,107	27,081
		Retained earnings	96,699	98,630	105,983	98,753	99,438
		Treasury shares	(16,737)	(16,734)	(16,729)	(21,693)	(21,684)

	Total accumulated other comprehensive income	871	2,112	1,443	1,278	6,409

		Valuation difference on available-for-sale securities	1,913	2,616	1,593	1,599	5,517
		Remeasurements of defined benefit plans	(1,041)	(503)	(149)	(321)	892

	Non-controlling interests	29,386	32,624	35,640	37,574	38,998

	Total net assets	163,342	169,791	179,523	169,133	176,383

Total liabilities and net assets	400,451	472,074	454,466	456,466	449,840

* Excerpt major Accounts.

- 6 -

Fact Book BicCamera

[Consolidated] Statements of Income

						(million yen)

		FY2019	FY2020	FY2021	FY2022	FY2023
		Sep.2018 - Aug.2019 Sep.2019 - Aug.2020 Sep.2020 - Aug.2021 Sep.2021 - Aug.2022 Sep.2022 - Aug.2023
Net sales	894,021	847,905	834,060	792,368	815,560
Cost of sales	650,576	616,899	595,501	578,525	597,687

Gross profit	243,444	231,005	238,558	213,843	217,873

SG&A expenses	220,500	218,939	220,340	195,980	203,657

	Points expenses	29,367	26,645	25,571	-	-
	Salaries and allowances	30,666	30,382	32,410	34,308	37,279
	Provision for bonuses	3,355	3,176	3,457	3,810	4,282
	Retirement benefit expenses	2,200	2,544	2,576	2,313	2,375
	Rent expenses	34,927	34,706	35,291	36,173	36,742
	Depreciation expenses	7,361	8,463	9,408	9,539	9,511
	Amortization of goodwill	360	389	548	840	705

Operating profit	22,943	12,066	18,217	17,863	14,215
Total non-operating income	3,448	3,133	4,071	3,512	2,798

	Interest income and Dividend income	328	322	295	581	342
	Commission income	1,494	1,390	1,403	1,532	1,632

Total non-operating expenses	521	509	659	567	448

	Interest expenses	283	293	320	274	229
	Commission expenses	97	56	107	71	42

Ordinary profit	25,871	14,690	21,629	20,808	16,566
Total extraordinary income	55	1,056	566	260	393

	Gain on sales of investment securities	18	-	-	-	-
	Subsidy income	-	1,048	262	-	-

Total extraordinary losses	3,253	3,117	2,655	6,418	6,887

	Loss on valuation of investment securities	-	118	111	185	1,718
	Impairment loss	2,946	1,434	1,760	4,658	4,407
	Loss due to temporary closure	-	1,332	211	-	-

Profit before income taxes	22,673	12,629	19,540	14,649	10,072

Total income taxes	4,676	3,386	6,785	5,275	5,102

	Income taxes - current	7,159	4,525	5,865	4,248	4,177
	Income taxes - deferred	(2,483)	(1,139)	920	1,026	925

Profit	17,996	9,243	12,755	9,374	4,969

Profit attributable to non-controlling interests	3,948	3,793	3,994	3,608	2,032

Profit attributable to owners of parent	14,047	5,450	8,761	5,765	2,936

* Excerpt major Accounts.

- 7 -

Fact Book BicCamera

[Consolidated] Statements of Cash Flows

						(million yen)

		FY2019	FY2020	FY2021	FY2022	FY2023
		Sep.2018 - Aug.2019 Sep.2019 - Aug.2020 Sep.2020 - Aug.2021 Sep.2021 - Aug.2022 Sep.2022 - Aug.2023
Cash flows from operating activities	13,192	52,004	7,763	25,317	10,078
	Profit before income taxes	22,673	12,629	19,540	14,649	10,072
	Depreciation	7,796	8,916	10,295	10,206	10,447
	Impairment loss	2,946	1,434	1,760	4,658	4,407
	Decrease (increase) in trade receivables	(6,040)	(1,977)	4,572	(3,567)	(998)
	Decrease (increase) in inventories	(21,910)	27,017	2,904	(494)	(4,260)
	Increase (decrease) in trade payables	11,165	(86)	(20,867)	4,582	(3,478)
	Income taxes paid	(9,782)	(5,994)	(3,349)	(6,214)	(4,039)

Cash flows from investing activities	(11,437)	(15,691)	(12,356)	(18,076)	(11,118)
	Purchase of property, plant and equipment	(8,707)	(11,315)	(4,107)	(7,566)	(5,147)
	Proceeds from sales of property, plant and	100	9	147	407	208
	equipment

	Purchase of intangible assets	(3,621)	(4,595)	(5,264)	(3,760)	(5,675)

Cash flows from financing activities	2,069	55,106	(4,387)	(26,565)	(13,580)
	Net increase (decrease) in short-term	580	(18,048)	24,320	7,630	12,994
	borrowings

	Proceeds from long-term borrowings	26,600	89,600	7,000	495	500
	Repayments of long-term borrowings	(16,387)	(12,492)	(32,411)	(25,663)	(23,137)
	Repayments of lease obligations	(1,061)	(914)	(662)	(529)	(460)

Effect of exchange rate change on cash and	(0)	(0)	0	2	0
cash equivalents


Net increase (decrease) in cash and cash	3,824	91,419	(8,979)	(19,321)	(14,620)
equivalents


Cash and cash equivalents at beginning of	21,967	25,791	117,211	108,857	89,536
period


Cash and cash equivalents at end of period	25,791	117,211	108,857	89,536	75,135

* Excerpt major Accounts.

- 8 -

Fact Book BicCamera

[Non-Consolidated] Statements of Income and Others

					(million yen)
	FY2019	FY2020	FY2021	FY2022	FY2023
	Sep.2018 - Aug.2019 Sep.2019 - Aug.2020	Sep.2020 - Aug.2021	Sep.2021 - Aug.2022 Sep.2022 - Aug.2023
Net sales	516,078	460,501	440,298	405,608	425,526
Cost of sales	381,181	342,749	324,055	306,973	322,494

Gross profit	134,896	117,751	116,242	98,634	103,032

SG&A expenses	124,955	120,739	115,739	98,558	102,185

Points expenses	22,042	20,016	18,519	-	-

Salaries and allowances	15,867	14,882	15,491	16,100	16,414

Logistics expenses	12,947	14,670	13,258	12,008	11,975

Rent expenses	22,023	21,698	21,713	21,922	21,857

Operating profit	9,941	(2,987)	503	75	847
Non-operating income	2,464	3,845	3,652	3,556	3,203

Non-operating expenses	220	230	255	338	190

Ordinary profit	12,185	627	3,900	3,294	3,860
Extraordinary income	0	858	213	1,445	247

Extraordinary loss	1,426	2,189	1,779	2,246	7,682

Profit before income taxes	10,760	(703)	2,334	2,493	(3,574)

Profit income	7,300	(424)	1,358	2,057	(4,304)
					（%）
Sales ratio	FY2019	FY2020	FY2021	FY2022	FY2023
Cost of sales	73.9	74.4	73.6	75.7	75.8

Gross profit	26.1	25.6	26.4	24.3	24.2

SG&A expenses	24.2	26.2	26.3	24.3	24.0

Points expenses	4.3	4.3	4.2	-	-

Salaries and allowances	3.1	3.2	3.5	4.0	3.9

Logistics expenses	2.5	3.2	3.0	3.0	2.8

Rent expenses	4.3	4.7	4.9	5.4	5.1

Operating profit	1.9	(0.6)	0.1	0.0	0.2

Ordinary profit	2.4	0.1	0.9	0.8	0.9

Profit income	1.4	(0.1)	0.3	0.5	(1.0)


Sales floor space, Number of stores,	Number of employees

	FY2019	FY2020	FY2021	FY2022	FY2023
Sales floor space（m2）	As of Aug.2019	As of Aug.2020	As of Aug.2021	As of Aug.2022	As of Aug.2023
Consolidated	672,547	680,644	680,795	694,165	683,821

Non-consolidated	239,897	242,192	244,952	242,654	229,969

Number of stores	As of Aug.2019	As of Aug.2020	As of Aug.2021	As of Aug.2022	As of Aug.2023
Consolidated *1	214	219	213	261	259

Non-consolidated	43	45	45	45	43

Kojima	142	143	140	141	141

Sofmap / Outlet	29	31	28	24	24

Janpara	-	-	-	50	51

Ranet / Arrow Japan / Somobile	56	54	89	96	115


Number of employees	FY2019	FY2020	FY2021	FY2022	FY2023
Consolidated	8,742	9,024	9,466	9,699	10,200
（The average number of part-time employees）*2	7,952	7,755	7,008	7,241	7,534

Non-consolidated	4,508	4,556	4,511	4,552	4,448
（The average number of part-time employees）*2	2,325	2,032	1,746	1,696	1,732

*1 It is not include Ranet, Arrow Japan and Somobile.

*2 The number of employees is not include part-time employees.

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