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Consolidated Financial Statements

Last update: July 11, 2025

Consolidated Quarterly Financial Statements

(1) Consolidated quarterly balance sheets

(Millions of yen)
  February 28, 2025
Amount 		May 31, 2025
Amount
ASSETS
Current assets 2,823,782 2,994,761
  Cash and bank deposits 1,368,663 1,465,541
Notes and accounts receivable - trade, and contract assets 441,630 450,165
Trade accounts receivable - financial services 111,029 117,248
Merchandise and finished goods 312,739 290,867
Work in process 46 53
Raw materials and supplies 3,002 3,814
Prepaid expenses 94,707 99,580
ATM-related temporary payments 118,172 154,369
Other 388,696 427,892
Allowance for doubtful accounts (14,905) (14,772)
Non-current assets 8,561,745 8,147,074
  Property and equipment 4,981,298 4,740,555
  Buildings and structures, net 1,749,166 1,676,889
Furniture, fixtures and equipment, net 538,598 510,866
Land 1,172,559 1,119,999
Lease assets, net 1,641 2,282
Right-of-use assets, net 1,289,807 1,214,876
Construction in progress 206,223 192,320
Other, net 23,300 23,319
Intangible assets 2,711,382 2,537,854
  Goodwill 2,264,441 2,103,944
Software 295,814 290,523
Other 151,125 143,386
Investments and other assets 869,065 868,664
  Investments in securities 321,086 331,553
Long-term loans receivable 14,295 15,089
Long-term leasehold deposits 264,136 261,549
Net defined benefit asset 126,974 127,884
Deferred tax assets 75,058 68,025
Other 69,189 66,227
Allowance for doubtful accounts (1,675) (1,666)
Deferred assets 582 531
  Bond issuance cost 582 531
TOTAL ASSETS 11,386,111 11,142,367
(Millions of yen)
  February 28, 2025
Amount 		May 31, 2025
Amount
LIABILITIES
Current liabilities 3,316,615 3,704,398
  Notes and accounts payable, trade 519,497 572,654
Short-term loans 172,497 398,875
Current portion of bonds 210,000 396,579
Current portion of long-term loans 290,128 164,050
Income taxes payable 36,003 37,175
Accrued expenses 282,395 274,259
Contract liabilities 178,031 167,137
Deposits received 146,967 307,843
ATM-related temporary advances 73,388 83,968
Lease obligations 180,624 167,296
Allowance for Loss on transfer of subsidiary 18,235 18,317
Allowance for restructuring expenses 2,626 265
Allowance for sales promotion expenses 815 568
Allowance for bonuses to employees 14,249 25,907
Allowance for bonuses to Directors and Audit & Supervisory Board Members 501 221
Deposits received in banking business 813,388 811,394
Call money 100,000 10,000
Other 277,264 267,884
Non-current liabilities 3,846,283 3,475,535
  Bonds 1,244,036 1,006,559
Long-term loans 778,068 731,564
Deferred tax liabilities 233,635 221,275
Allowance for retirement benefits to Directors and Audit & Supervisory Board Members 439 441
Allowance for stock payments 4,947 4,777
Net defined benefit liability 16,313 15,219
Deposits received from tenants and franchised stores 44,178 44,108
Lease obligations 1,223,438 1,156,117
Asset retirement obligations 235,024 229,016
Other 66,201 66,454
TOTAL LIABILITIES 7,162,898 7,179,934
NET ASSETS
Shareholders' equity 3,054,284 2,961,385
  Common stock 50,000 50,000
Capital surplus 293,455 293,439
Retained earnings 2,727,937 2,724,971
Treasury stock, at cost (17,108) (107,026)
Total accumulated other comprehensive income 981,693 817,353
  Unrealized gains (losses) on available-for-sale securities, net of taxes 51,770 60,016
Unrealized gains (losses) on hedging derivatives, net of taxes 5,035 4,673
Foreign currency translation adjustments 901,059 729,653
Remeasurements of defined benefit plans 23,827 23,011
Subscription rights to shares 80 35
Non-controlling interests 187,154 183,658
TOTAL NET ASSETS 4,223,212 3,962,432
TOTAL LIABILITIES AND NET ASSETS 11,386,111 11,142,367

(2) Consolidated quarterly statements of income and consolidated quarterly statements of comprehensive income
Consolidated quarterly statements of income

(Millions of yen)
  Three Months Ended
May 31, 2024
Amount 		Three Months Ended
May 31, 2025
Amount
Revenues from operations 2,734,750 2,777,370
  Net sales 2,347,873 2,373,218
Cost of sales 1,944,527 1,959,725
Gross profit on sales 403,345 413,492
  Operating revenues 386,877 404,151
Gross profit from operations 790,223 817,644
  Selling, general and administrative expenses 730,878 752,568
Operating income 59,344 65,076
Non-operating income 11,086 4,617
  Interest income 3,922 2,659
Gain on valuation of investment securities 5,508 -
Other 1,655 1,958
Non-operating expenses 15,430 16,411
  Interest expenses 7,957 7,609
Interest on bonds 5,279 5,026
Equity in losses of affiliates 145 1,261
Other 2,047 2,513
Ordinary income 55,000 53,281
Special gains 1,697 37,858
  Gain on sales of property and equipment 603 37,201
Compensation income 616 -
Other 478 657
Special losses 19,283 13,169
  Loss on disposals of property and equipment 3,343 3,625
Impairment loss 1,107 873
Restructuring expenses 764 768
Loss on business of subsidiaries and associates - 704
Loss on transfer of subsidiary 5,392 -
Loss on disaster 4,078 -
Other 4,597 7,196
Income before income taxes 37,414 77,971
Total Income taxes 14,760 26,990
  Income taxes - current 10,429 24,659
Income taxes - deferred 4,331 2,330
Net income 22,653 50,981
Net income attributable to non-controlling interests 1,265 1,966
Net income attributable to owners of parent 21,388 49,014

Consolidated quarterly statements of comprehensive income

(Millions of yen)
  Three Months Ended
May 31, 2024
Amount 		Three Months Ended
May 31, 2025
Amount
Net income 22,653 50,981
Other comprehensive income
  Unrealized gains (losses) on available-for-sale securities, net of taxes 4,806 8,417
Unrealized gains (losses) on hedging derivatives, net of taxes 258 (362)
Foreign currency translation adjustments 177,021 (172,779)
Remeasurements of defined benefit plans, net of taxes (298) (844)
Share of other comprehensive income (loss) of entities accounted for using equity method, net of taxes 37 35
Total other comprehensive income (loss) 181,824 (165,533)
Comprehensive income (loss) 204,478 (114,551)
  Comprehensive income (loss) attributable to owners of parent 202,128 (115,325)
Comprehensive income (loss) attributable to non-controlling interests 2,350 773

(3) Consolidated quarterly statements of cash flows

(Millions of yen)
  Three Months Ended
May 31, 2024
Amount 		Three Months Ended
May 31, 2025
Amount
Cash flows from operating activities
  Income before income taxes 37,414 77,971
Depreciation and amortization 104,531 105,212
Impairment loss 1,387 873
Amortization of goodwill 31,611 35,443
Interest income (3,922) (2,659)
Interest expenses and interest on bonds 13,237 12,636
Equity in losses (earnings) of affiliates 145 1,261
Gain on sales of property and equipment (603) (37,201)
Loss on disposals of property and equipment 3,343 4,159
Loss on transfer of subsidiary 5,392 -
Decrease (increase) in notes and accounts receivable, trade (21,983) (17,543)
Decrease (increase) in trade accounts receivable, financial services (3,881) (6,218)
Decrease (increase) in inventories (1,190) 8,196
Increase (decrease) in notes and accounts payable, trade 38,333 66,738
Increase (decrease) in deposits received 88,266 162,219
Net increase (decrease) in deposits received in banking business (2,979) (1,994)
Net increase (decrease) in call money in banking business 5,000 (90,000)
Net decrease (increase) in ATM-related temporary accounts (9,720) (25,798)
Other (22,047) (22,507)
Subtotal 262,334 270,789
Interest and dividends received 4,022 2,829
Interest paid (14,458) (17,857)
Income taxes paid (15,794) (21,280)
Income taxes refund 18 859
Net cash provided by operating activities 236,122 235,339
(Millions of yen)
  Three Months Ended
May 31, 2024
Amount 		Three Months Ended
May 31, 2025
Amount
Cash flows from investing activities
  Acquisition of property and equipment (98,041) (92,784)
Proceeds from sales of property and equipment 1,631 60,476
Acquisition of intangible assets (31,630) (23,377)
Payment for purchase of investments in securities (2,565) (15,962)
Proceeds from sales of investments in securities 2,708 12,951
Payment for purchase of shares in subsidiaries resulting in change in scope of consolidation (165,212) -
Payment for sales of shares in subsidiaries resulting in change in scope of consolidation (22,573) (1,908)
Payment for long-term leasehold deposits (2,537) (1,616)
Refund of long-term leasehold deposits 4,494 5,070
Proceeds from deposits from tenants 806 588
Refund of deposits from tenants (885) (791)
Payment for time deposits (103) (209)
Proceeds from withdrawal of time deposits 226 62
Other (3,204) (4,218)
Net cash used in investing activities (316,886) (61,719)
Cash flows from financing activities
  Net increase (decrease) in short-term loans 255,066 218,575
Proceeds from long-term debts 96,115 12,000
Repayment of long-term debts (35,432) (141,705)
Payment for redemption of bonds (334,417) -
Proceeds from share issuance to non-controlling shareholders 399 -
Purchase of treasury stock (59,640) (90,083)
Dividends paid (49,078) (51,550)
Dividends paid to non-controlling interests (506) (801)
Payment for changes in ownership interests in subsidiaries that do not result in change in scope of consolidation (367) (0)
Other (3,922) (4,624)
Net cash used in financing activities (131,783) (58,189)
Effect of exchange rate changes on cash and cash equivalents 23,321 (17,883)
Net increase (decrease) in cash and cash equivalents (189,226) 97,547
Cash and cash equivalents at beginning of period 1,562,493 1,349,820
Cash and cash equivalents at end of period 1,373,267 1,447,367