Nitori Holdings Co. Ltd.TSE: 9843

Summary of consolidated financial results for the third quarter

Feb 12, 2025 at 7:20 AM UTC · Issued by Nitori Holdings Co. Ltd.

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results

for the Nine Months Ended December 31, 2024

[Japanese GAAP]

February 12, 2025

Company name:Nitori Holdings Co., Ltd.

Listing:

Tokyo, Sapporo

Securities code: 9843

URL:

https://www.nitorihd.co.jp/

Representative: Toshiyuki Shirai

President and Chief Operating Officer

Inquiries:

Fumihide Kimura

General Manager, Accounting and Finance Division

Telephone:

+81-3-6741-1204

Scheduled date to commence dividend payments:

Preparation of supplementary material on financial results: Yes

Holding of financial results briefing:

Yes (for institutional investors and analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Nine Months Ended December 31, 2024 (April 1, 2024 to December 31, 2024)

(1) Consolidated Operating Results

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Nine months ended

Millions of yen

December 31, 2024

704,945

6.2

98,914

1.1

103,250

2.0

70,023

2.2

December 31, 2023

663,746

5.1

97,865

3.0

101,268

3.8

68,535

3.0

(Note) Comprehensive income:	Nine months ended December 31, 2024:
	Nine months ended December 31, 2023:

¥	72,528 million	[	(8.9) %]
¥	79,579 million	[	7.5%]

	Basic earnings	Diluted earnings per
	per share		share
Nine months ended	Yen			Yen
December 31, 2024	619.61			-
December 31, 2023	606.45			-
(2) Consolidated Financial Position

	Total assets		Net assets	Capital adequacy ratio

As of	Millions of yen		Millions of yen	%
December 31, 2024	1,330,099			952,050	71.6
March 31, 2024	1,238,679			896,308	72.4
(Reference) Equity: As of	December 31, 2024:	¥	952,050 million
As of	March 31, 2024:	¥	896,304 million

―1―

2. Dividends

				Annual dividends

	1st	2nd	3rd		Year-end	Total
	quarter-end	quarter-end	quarter-end

	Yen		Yen	Yen		Yen	Yen
Fiscal year ended March 31, 2024	-		75.00	-		72.00	147.00
Fiscal year ending March 31, 2025	-		76.00	-

Fiscal year ending March 31, 2025						76.00	152.00
(Forecast)

(Note) Revision to the forecast for dividends announced most recently:	None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)

(Percentages indicate year-on-year changes.)

		Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings
			owners of parent	per share

		Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year		960,000		7.2	129,600	1.5	134,000	1.2	92,000	6.3	814.07
(Note) Revision to the financial results forecast announced most recently:	None
* Notes:
(1) Significant changes in the scope of consolidation during the period:	None
Newly included:	-	(Company name:							)
Excluded:	-	(Company name:							)

Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
Changes in accounting policies, changes in accounting estimates, and restatement
1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatement: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

December 31, 2024:	114,443,496	shares
March 31, 2024:	114,443,496	shares
2) Number of treasury shares at the end of the period:
December 31, 2024:	1,431,814	shares
March 31, 2024:	1,431,638	shares

3) Average number of shares outstanding during the period:
Nine months ended December 31, 2024:	113,011,739	shares
Nine months ended December 31, 2023:	113,011,883	shares

Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes(voluntary)
Explanation for appropriate use of financial forecasts and other special notes

The forecasts given in this document are based on the current available information in the company and certain reasonable assumptions to the company. And we don't commit to achieve these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.

―2―

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

					(Millions of yen)
				As of March 31, 2024	As of December 31, 2024

Assets
	Current assets

		Cash and deposits		137,943	163,694
		Notes and accounts receivable - trade	79,247	69,871

		Merchandise and finished goods		101,206	96,560
		Work in process	520	718

		Raw materials and supplies		6,802	5,002
		Other	22,018	22,631

		Allowance for doubtful accounts		(2)	(3)
		Total current assets	347,736	358,475

	Non-current assets
		Property, plant and equipment

		Buildings and structures, net		255,847	260,235
		Land	403,228	469,948

		Other, net		77,821	87,201
		Total property, plant and equipment		736,897	817,385

		Intangible assets
		Goodwill	17,060	15,141

		Other		14,101	15,382
		Total intangible assets	31,162	30,523

		Investments and other assets
		Investment securities	42,439	44,307

		Long-term loans receivable		520	492
		Guarantee deposits	16,646	15,732

		Leasehold deposits		30,982	31,433
		Deferred tax assets	21,513	21,168

		Other		10,851	10,619
		Allowance for doubtful accounts	(72)	(38)

		Total investments and other assets		122,882	123,715
		Total non-current assets	890,942	971,624

	Total assets		1,238,679	1,330,099
Liabilities

	Current liabilities
		Notes and accounts payable - trade	48,294	40,332

		Short-term borrowings		107,557	192,862
		Lease obligations	1,895	2,014

		Accounts payable - other		45,933	23,668
		Income taxes payable	20,366	13,830

		Contract liabilities		29,091	21,723
		Provision for bonuses	6,604	4,111

		Provision for point card certificates		11	8
		Provision for shareholder benefit program	318	108

		Other		16,264	18,261
		Total current liabilities		276,336	316,922

―3―

				(Millions of yen)
			As of March 31, 2024	As of December 31, 2024

	Non-current liabilities
		Long-term borrowings	30,000	25,000

		Lease obligations	4,519	4,636
		Provision for retirement benefits for directors	145	145
		(and other officers)

		Retirement benefit liability	5,558	5,835
		Asset retirement obligations	14,748	14,378

		Other	11,061	11,129
		Total non-current liabilities	66,033	61,126

	Total liabilities	342,370	378,048
Net assets

	Shareholders' equity
		Share capital	13,370	13,370

		Capital surplus	30,715	30,715
		Retained earnings	841,541	894,781

		Treasury shares	(10,113)	(10,116)
		Total shareholders' equity	875,513	928,750

	Accumulated other comprehensive income
		Valuation difference on available-for-sale	4,711	6,154
		securities

		Foreign currency translation adjustment	15,816	16,822
		Remeasurements of defined benefit plans	262	321

		Total accumulated other comprehensive income	20,790	23,299
	Non-controlling interests	4	-

	Total net assets	896,308	952,050
Total liabilities and net assets	1,238,679	1,330,099

―4―

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the nine months)

			(Millions of yen)
		For the nine months	For the nine months
		ended December 31, 2023	ended December 31, 2024

Net sales	663,746	704,945
Cost of sales	324,318	345,412

Gross profit	339,428	359,533
Selling, general and administrative expenses	241,563	260,618

Operating profit	97,865	98,914
Non-operating income

	Interest income	934	799
	Dividend income	521	612

	Share of profit of entities accounted for using equity	173	1,318
	method

	Foreign exchange gains	508	771

	Subsidy income	88	52
	Vending machine income	261	273

	Gain on sale of valuables	204	268
	Other	1,173	1,040

	Total non-operating income	3,865	5,136
Non-operating expenses

	Interest expenses	376	580
	Other	85	220

	Total non-operating expenses	462	801
Ordinary profit	101,268	103,250

Extraordinary income
	Gain on sale of non-current assets	7	19

	Gain on change in equity	22	-
	Total extraordinary income	30	19

Extraordinary losses
	Loss on sale and retirement of non-current assets	12	108

	Impairment losses	512	927
	Loss on change in equity	-	3

	Loss on liquidation of subsidiaries and associates	-	635
	Total extraordinary losses	525	1,675

Profit before income taxes	100,773	101,594
Income taxes	32,238	31,574

Profit	68,535	70,019
Loss attributable to non-controlling interests	-	(4)

Profit attributable to owners of parent	68,535	70,023

―5―

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)

		(Millions of yen)
	For the nine months	For the nine months
	ended December 31, 2023	ended December 31, 2024

Profit	68,535	70,019
Other comprehensive income

Valuation difference on available-for-sale securities	2,393	1,443
Deferred gains or losses on hedges	1,829	-

Foreign currency translation adjustment	6,866	1,006
Remeasurements of defined benefit plans, net of tax	(46)	59

Total other comprehensive income	11,043	2,509
Comprehensive income	79,579	72,528

Comprehensive income attributable to
Owners of parent	79,579	72,532

Non-controlling interests	-	(4)

―6―

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