Financial Highlights

Last update: April 7, 2023

Results for the FY2022 (Year Ended February 28, 2023)

Fiscal years are indicated by the year in which that fiscal year begins, starting from the first quarter of the fiscal year ended February 28, 2023.

In the fiscal year under review, amid continuing wariness of the spread of COVID-19 infections, the Japanese economy continued to recover, led by consumer spending, reflecting the absence of government-mandated activity restrictions such as semi-emergency COVID-19 measures. The government did not impose such restrictions in order to facilitate both infection prevention and economic activity. However, the situation still warranted caution. There were signs of uncertainty emerging due to the Ukraine situation and other factors, as well as the impact of rising prices on household budgets, which reflected soaring energy costs and raw material prices as a result of the yen’s rapid depreciation, and supply constraints.
In North America, consumer spending showed signs of slowing amid the continuation of historically high levels of inflation, exacerbated by the effects of policy interest rate hikes and other factors. Issues such as supply constraints caused by labor shortages and logistics disruptions have had an impact on the real economy.
In this environment, under the new Board of Directors and governance structure, the Seven & i Group has continued to discuss various strategic actions that could increase the Group’s corporate value while taking into account the growth profile and efficiency of each business. On March 9, 2023, the Group announced the results of the Group Strategy Reevaluation based on those discussions. It defined its “Ideal Group Image for 2030” as “a world-class retail group centered around its ‘food’ that leads retail innovation through global strategies centered on the 7-Eleven business and proactive utilization of technology.” In addition, based on the approach to the business portfolio, we have entered into an agreement to transfer all shares outstanding of Sogo & Seibu Co., Ltd. held by the Company to Sugi Godo Kaisha, a special purpose company which is a related entity of Fortress Investment Group LLC, and are holding discussions to execute the agreement. Looking ahead, based on the content of this agreement and the updated Medium-Term Management Plan, the Group will focus on generating corporate value over the medium to long term and achieving the Group’s continuous growth in accordance with the updated Medium-Term Management Plan 2021-2025.
Our consolidated results for the fiscal year ended February 28, 2023 are summarized below.
“Accounting Standard for Revenue Recognition” (ASBJ Statement No.29, March 31, 2020, hereinafter the “Accounting Standard for Revenue Recognition”), etc., are applied from the beginning of the first quarter of the consolidated fiscal year ended February 28, 2023.Our consolidated results for the fiscal year ended February 28, 2023 are summarized below.

Financial Statements

(Millions of Yen)
  FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
Revenues from operations 6,791,215 6,644,359 5,766,718 8,749,752 11,811,303
Operating income 411,596 424,266 366,329 387,653 506,521
Ordinary income 406,523 417,872 357,364 358,571 475,887
Net income attributable to owners of parent 203,004 218,185 179,262 210,774 280,976
Total assets 5,795,065 5,996,887 6,946,832 8,739,279 10,550,956
Net assets 2,672,486 2,757,222 2,831,335 3,147,732 3,648,161
Non-controlling interests 148,285 155,295 162,352 166,719 173,565
Interest-bearing debt 1,105,189 982,960 1,761,210 2,898,733 2,975,797
Cash flows from operating activities 577,878 576,670 539,995 736,476 928,476
Cash flows from investing activities (557,497) (318,047) (394,127) (2,505,566) (413,229)
Cash flows from financing activities (5,324) (213,204) 690,542 937,077 (270,373)
Net increase (decrease) in cash and cash equivalents 9,824 44,126 828,980 (768,946) 259,897
Cash and cash equivalents at end of year 1,310,729 1,354,856 2,183,837 1,414,890 1,674,787
Capital expenditures 539,328 360,909 377,299 439,630 431,961
Depreciation and amortization 221,133 226,475 235,504 292,561 376,097
Net income per share ¥229.50 ¥246.95 ¥203.03 ¥238.68 ¥318.14
Owners' equitiy per share ¥2,850.42 ¥2,946.83 ¥3,022.68 ¥3,375.50 ¥3,933.93
Dividends per share ¥95.00 ¥98.50 ¥98.50 ¥100.00 ¥113.00
Owner's equity ratio 43.5% 43.4% 38.4% 34.1% 32.9%
Return on equity (ROE) 8.2% 8.5% 6.8% 7.5% 8.7%
Exchange rate
Exchange rate  
(average on the term) U.S.$1= ¥110.44 ¥109.03 ¥106.76 ¥109.90 ¥131.62
1yuan= ¥16.71 ¥15.78 ¥15.48 ¥17.04 ¥19.50
(at fiscal year end) U.S.$1= ¥111.00 ¥109.56 ¥103.50 ¥115.02 ¥132.70
1yuan= ¥16.16 ¥15.67 ¥15.88 ¥18.06 ¥19.01
  • *ROE is calculated based on the average of net assets at the beginning and end of fiscal year.
  • *Capital expenditures include long-term leasehold deposits and advances for store construction.
(Millions of Yen)
  Q1/FY20 Q2/FY20 Q3/FY20 Q4/FY20 Q1/FY21 Q2/FY21 Q3/FY21 Q4/FY21 Q1/FY22 Q2/FY22 Q3/FY22 Q4/FY22
Revenues from operations 1,391,828 2,788,408 4,276,808 5,766,718 1,555,371 3,646,449 6,149,472 8,749,752 2,447,317 5,651,505 8,823,781 11,811,303
Operating income 71,390 179,738 285,632 366,329 77,512 186,170 302,927 387,653 102,367 234,767 394,873 506,521
Ordinary income 69,462 175,241 276,266 357,364 69,869 173,450 282,145 358,571 95,519 219,763 370,264 475,887
Net income attributable to owners of parent 13,937 72,519 130,987 179,262 43,018 106,500 174,877 210,774 65,039 136,089 234,708 280,976
Total assets 6,315,519 6,184,441 5,984,318 6,946,832 8,397,040 8,718,548 8,649,303 8,739,279 9,959,256 10,499,995 10,901,476 10,550,956
Net assets 2,716,233 2,772,886 2,782,598 2,831,335 2,944,585 3,017,911 3,058,492 3,147,732 3,314,126 3,635,009 3,817,004 3,648,161
Non-controlling interests 153,902 158,090 158,700 162,352 159,837 163,551 163,352 166,719 166,242 171,112 170,799 173,565
Interest-bearing debt 1,217,269 1,166,197 952,435 1,761,210 2,981,139 3,115,983 2,957,029 2,898,733 2,960,383 3,055,264 3,157,617 2,975,797
Cash flows from operating activities 195,572 295,501 391,444 539,995 249,904 340,802 481,588 736,476 280,155 366,450 581,568 928,476
Cash flows from investing activities (134,431) (202,762) (294,021) (394,127) (84,881) (2,343,981) (2,367,065) (2,505,566) (92,829) (184,232) (295,019) (413,229)
Cash flows from financing activities 199,786 145,624 (115,593) 690,542 1,099,428 1,243,151 1,030,317 937,077 (86,031) (185,471) (238,669) (270,373)
Net increase (decrease) in cash and cash equivalents 259,321 236,676 (20,360) 828,980 1,378,579 (717,476) 50,377 (768,946) 112,202 27,658 101,205 259,897
Cash and cash equivalents at end of period 1,614,178 1,591,533 1,334,495 2,183,837 3,562,416 1,466,360 1,379,054 1,414,890 1,527,092 1,442,548 1,516,095 1,674,787
Capital expenditures 76,434 157,280 258,580 377,299 94,678 201,223 316,847 439,630 81,970 192,085 298,534 431,961
Depreciation and amortization 58,698 116,435 175,468 235,504 61,802 131,608 208,738 292,561 87,164 180,503 278,077 376,097
Owner's equity ratio 40.6% 42.3% 43.8% 38.4% 33.2% 32.7% 33.5% 34.1% 31.6% 33.0% 33.4% 32.9%
  • *Capital expenditures include long-term leasehold deposits and advances for store construction.