Superstore Operations

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Ito-Yokado

(Millions of yen)
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Revenues from operations	1,361,060	1,332,292	1,311,989	1,285,942	1,289,586	1,255,017	1,244,262	1,236,180	1,185,147	1,080,934	1,067,545
Net sales	1,334,297	1,302,923	1,280,615	1,253,296	1,255,608	1,219,252	1,213,613	1,205,751	1,154,374	1,053,284	1,038,664
Lifestyle*1	–	–	–	–	–	–	317,460	310,796	285,985	238,816	219,985
Specialty stores*1	–	–	–	–	–	–	13,484	13,213	13,488	13,592	11,791
Food*1	–	–	–	–	–	–	550,399	538,778	516,120	517,101	506,270
Apparel	240,068	230,807	204,051	193,354	187,047	179,027	162,589	153,590	–	–	–
Household goods*2	173,049	160,916	165,297	153,506	142,811	122,445	165,083	162,021	–	–	–
Food	648,506	623,571	608,343	592,913	601,672	585,457	553,670	547,175	–	–	–
Merchandise sales	1,061,624	1,015,295	977,692	939,774	931,531	886,930	881,343	862,788	815,594	769,510	738,046
Tenants	252,709	271,258	287,874	301,376	314,612	322,191	324,328	336,390	335,359	278,428	297,225
Other	19,964	16,369	15,048	12,145	9,464	10,130	7,940	6,573	3,420	5,345	3,392
Selling, general and administrative expenses	350,981	342,502	335,771	333,118	334,380	316,879	310,285	304,510	291,051	265,479	259,298
Operating income	10,554	9,009	11,236	1,859	(13,980)	52	3,077	4,708	6,522	7,781	1,620
Ordinary income	13,471	15,223	13,071	4,142	(13,405)	1,786	3,687	6,122	7,615	7,698	2,371
Net income	(520)	1,687	5,333	(6,881)	(23,923)	(13,797)	(5,821)	(7,840)	1,674	(3,705)	(11,201)
Capital expenditures	18,074	30,578	47,943	41,067	58,555	30,636	18,072	44,057	27,305	20,613	29,311
Depreciation and amortization*3	16,822	15,937	10,014	11,137	13,125	13,654	12,606	12,191	13,254	12,594	13,318
Total assets	790,851	791,020	807,425	817,735	799,073	753,315	736,336	721,594	713,839	682,167	666,022
Net assets	597,601	599,857	608,444	606,327	581,223	544,808	539,608	530,367	529,737	512,489	507,849
EBITDA	27,377	24,946	21,250	12,997	(855)	13,707	15,683	16,899	19,776	20,375	14,939
ROA (%)	(0.1)	0.2	0.7	(0.8)	(3.0)	(1.8)	(0.8)	(1.1)	0.2	(0.5)	(1.7)
Existing store sales increase (decrease) (%)	(2.6)	(4.3)	(4.6)	(4.5)	0.2	(4.2)	(1.4)	(1.1)	(2.9)	(0.6)	(0.5)
Number of customers (%)	(4.6)	(5.2)	(4.3)	(5.7)	(0.1)	(4.4)	(1.7)	(1.1)	(3.5)	(6.9)	(0.3)
Average spending per customer (%)	2.0	1.0	(0.4)	1.3	0.4	0.3	0.3	0.0	0.7	6.7	(0.3)
Merchandise gross profit margin (%)	29.7	29.9	30.2	29.9	28.6	29.1	29.6	29.6	29.9	29.6	29.0
Number of stores	173	174	179	181	182	171	164	159	157	132	128
Openings	5	3	9	3	3	4	2	1	4	3	0
Closures	2	2	4	1	2	15	9	6	6	28	4
Total sales floor space (㎡)	2,704,252	2,751,439	2,817,665	2,832,235	2,802,078	2,776,875	2,653,996	2,547,874	2,506,284	2,373,250	2,288,584
Directly managed sales floor space (㎡)	1,665,268	1,642,954	1,639,943	1,630,246	1,590,958	1,508,282	1,490,522	1,420,357	1,355,959	1,230,268	1,162,773
Sales per square meter (¥ Thousand)*4	636	613	597	572	585	564	575	584	591	602	622
Full-time employees (fiscal year-end)	9,136	8,672	8,289	8,029	7,790	7,654	7,663	7,443	7,238	6,477	6,024
Part-time employees*5	29,853	29,116	31,491	31,245	32,106	27,540	27,750	26,690	24,275	22,319	20,059
Ratio of part-time employees (%)	77.0	77.4	78.6	79.3	80.0	79.9	78.0	77.9	76.7	76.6	76.3
Sales per employee (¥ Thousand)*6	27,856	27,430	26,614	26,074	26,099	25,716	24,766	25,190	25,776	26,403	28,066

*1 From FY2020, the previous product-based sales classifications have been revised from apparel, household goods, and food to lifestyle, specialty stores, and food.
Figures for FY2018 and FY2019 have been calculated and displayed in the same manner.

*2 From FY2018, Seven Bi no Garden Co., Ltd. was absorbed through a merger and its figures are reflected.

*3 From FY2014, Ito-Yokado changed the method for calculating the depreciation of property and equipment to the straight-line method from the previously used declining-balance method.

*4 Sales per square meter = Merchandise sales ÷ Weighted average floor space

*5 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*6 Sales per employee = Merchandise sales ÷ Average number of employees (including part-time employees)

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Ito-Yokado

Revenues from operations and Operating income

Net income attributable to owners of parent and ROA

Breakdown of sales by product category

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Ito-Yokado

(Billions of yen)
Trend in sales breakdown by region	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Hokkaido	72.0	71.7	67.2	64.6	65.5	64.6	64.8	65.5	60.3	51.6	49.5
Tohoku	57.1	55.8	45.8	51.5	50.1	47.2	48.3	45.9	45.4	41.9	38.7
Kanto	976.3	945.2	939.4	914.7	925.8	902.8	916.6	902.2	876.0	805.2	794.9
Chubu	95.1	96.0	93.9	91.7	85.5	82.9	76.9	91.0	87.3	77.6	76.1
Kinki	117.8	116.4	115.8	113.1	111.9	106.0	98.5	92.5	85.0	76.8	79.3
Chugoku	15.7	17.6	18.2	17.4	16.4	15.5	8.1	8.4	–	–	–
Total	1,334.2	1,302.9	1,280.6	1,253.2	1,255.6	1,219.2	1,213.6	1,205.7	1,154.3	1,053.2	1,038.6

Trend in the number of stores

(Stores)
By region	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Hokkaido	12	12	11	11	11	11	11	10	9	8	7
Tohoku	10	10	10	10	10	10	10	10	10	9	9
Kanto	120	121	127	130	131	125	120	118	118	96	95
Chubu	17	17	17	16	16	14	14	14	13	12	10
Kinki	11	11	11	11	11	10	8	7	7	7	7
Chugoku	3	3	3	3	3	1	1	–	–	–	–
Total	173	174	179	181	182	171	164	159	157	132	128

By total sales floor space	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
16,000 ㎡−	68	68	72	72	71	70	63	61	59	58	58
10,000−15,999 ㎡	50	50	47	46	47	43	46	45	45	39	33
5,000−9,999 ㎡	36	36	34	35	34	30	27	25	23	19	21
Under 5,000 ㎡	19	20	26	28	30	28	28	28	30	16	16
Total	173	174	179	181	182	171	164	159	157	132	128

By store age	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
30 years−	51	56	58	60	60	54	53	52	50	44	42
20 years−	26	24	22	24	27	27	28	35	39	40	39
10 years−	53	51	52	55	55	51	48	38	34	31	32
5 years−	23	20	18	16	17	14	15	22	21	9	9
1 year−	15	20	20	23	20	21	18	11	9	5	6
Under 1 year	5	3	9	3	3	4	2	1	4	3	0
Total	173	174	179	181	182	171	164	159	157	132	128

By format	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Superstores	140	139	137	136	136	127	121	116	112	104	99
Shopping centers	12	13	16	17	17	18	19	19	19	19	20
Food specialty stores	21	22	26	28	29	26	24	24	26	9	9
Total	173	174	179	181	182	171	164	159	157	132	128

Note: Number of stores at fiscal year-end

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York-Benimaru

(Millions of yen)
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Revenues from operations	348,600	363,862	380,869	396,930	412,977	426,172	437,197	445,297	446,843	477,633	478,144
Net sales	342,944	358,061	374,781	390,492	406,223	418,729	429,064	437,201	438,637	469,057	469,415
Fresh food	108,226	114,914	123,054	132,110	139,489	145,105	149,910	153,597	154,442	169,112	167,111
Processed food	83,542	86,219	89,761	92,181	95,761	98,819	101,977	104,950	106,140	114,288	114,763
Daily food	65,222	68,660	71,510	73,843	77,433	81,101	84,097	86,551	87,235	94,955	95,394
Food total	256,991	269,794	284,326	298,136	312,683	325,026	335,985	345,100	347,818	378,356	377,269
Apparel	17,358	17,642	17,597	16,614	15,887	14,967	13,531	12,761	11,747	10,751	10,314
Household goods	19,474	19,383	20,339	20,694	20,398	20,296	19,993	19,270	19,005	19,885	18,500
Merchandise sales	293,824	306,820	322,263	335,445	348,970	360,290	369,510	377,132	378,571	408,993	406,085
Tenants	49,120	51,240	52,518	55,047	57,253	58,439	59,553	60,069	60,066	60,064	63,330
Selling, general and administrative expenses	74,686	78,649	80,969	84,796	88,784	92,185	94,713	98,337	99,932	106,007	105,044
Operating income	14,955	11,854	12,714	12,820	13,324	14,054	14,070	12,801	13,100	16,548	14,704
Ordinary income	16,305	14,003	14,467	14,018	14,529	15,344	15,301	13,973	14,308	17,707	15,953
Net income	1,430	7,731	9,306	7,792	8,969	8,982	9,350	7,672	6,712	7,845	9,055
Capital expenditures	7,075	9,779	10,700	14,120	10,642	12,330	13,452	10,328	13,148	17,056	17,437
Depreciation and amortization*1	5,122	5,161	3,167	3,569	3,931	4,519	5,148	5,675	5,883	6,259	7,297
Total assets*2	150,789	156,212	168,013	182,267	184,894	177,983	184,302	183,481	190,090	199,509	201,144
Net assets	117,090	123,766	131,800	140,118	141,435	136,514	140,016	140,769	141,422	143,447	147,122
EBITDA	20,077	17,015	15,882	16,389	17,255	18,573	19,218	18,476	18,984	22,808	22,001
ROA (%)	1.0	5.0	5.7	4.4	4.9	5.0	5.2	4.2	3.6	4.0	4.5
Existing store sales increase (decrease) (%)	1.5	0.0	0.1	0.2	1.2	0.5	(0.4)	(1.0)	(1.2)	5.0	(0.4)
Number of customers (%)	(3.3)	0.9	0.7	(0.1)	1.5	0.8	0.0	(0.9)	(2.3)	(3.3)	(1.0)
Average spending per customer (%)	4.9	(1.0)	(0.6)	0.2	(0.3)	(0.3)	(0.5)	(0.2)	1.1	8.5	0.6
Merchandise gross profit margin (%)	27.0	26.0	25.6	25.6	25.7	25.8	25.7	25.8	26.1	26.4	25.8
Number of stores	176	184	193	200	205	213	220	225	232	235	237
Openings	8	11	11	8	6	9	11	7	8	5	5
Closures	2	3	2	1	1	1	4	2	1	2	3
Total sales floor space (㎡)	573,187	590,698	606,812	628,639	640,667	656,950	675,128	682,795	697,646	703,029	709,077
Directly managed sales floor space (㎡)	433,346	450,581	469,142	485,123	494,201	505,269	519,177	525,508	534,926	541,036	544,925
Sales per square meter (¥ Thousand)*3	718	716	721	721	727	733	735	727	721	764	752
Full-time employees (fiscal year-end)	2,495	2,494	2,538	2,614	2,660	2,685	2,697	2,747	2,766	2,810	2,866
Part-time employees*4	10,165	10,395	10,729	10,984	11,168	11,353	11,903	11,953	11,811	12,178	12,166
Ratio of part-time employees (%)	80.1	80.3	80.6	80.6	80.5	80.6	81.2	81.0	80.8	81.2	80.9
Sales per employee (¥ Thousand)*5	23,141	23,714	24,232	24,607	25,156	25,581	25,208	25,566	25,888	27,255	26,989

*1 From FY2014, York-Benimaru changed the method for calculating the depreciation of property and equipment to the straight-line method from the previously used declining-balance method.

*2 ASBJ Statement No. 28 “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28, dated February 16, 2018) has been applied to total assets from FY2020 and reflected retroactively in the figures for FY2019.

*3 Sales per square meter = Merchandise sales ÷ Weighted average floor space (㎡) (excluding floor space of the stores which have been temporarily closed)

*4 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*5 Sales per employee = Merchandise sales ÷ Average number of employees (including part-time employees)

Life Foods

(Millions of yen)
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Net sales	36,974	38,509	39,894	42,487	44,603	45,913	46,739	47,285	47,320	47,902	50,601
Selling, general and administrative expenses	14,710	14,823	15,438	16,383	17,388	17,965	18,673	19,217	19,344	19,610	20,934
Operating income	3,450	3,704	3,823	4,204	4,422	4,704	4,028	3,923	3,786	3,957	4,095
Ordinary income	3,659	3,763	3,870	4,253	4,468	4,739	4,054	3,977	3,834	3,995	4,131
Net income	2,187	2,193	2,407	2,526	2,801	3,237	2,657	2,596	2,528	2,570	760
Total assets	26,645	27,688	27,928	30,309	32,188	34,504	36,211	37,538	39,656	41,957	41,903
Net assets	21,053	21,493	22,523	24,265	26,293	28,628	30,396	32,209	33,990	35,769	35,690

York-Benimaru (including results from Life Foods)

(Millions of yen)
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Operating income	18,407	15,558	16,539	17,025	17,747	18,760	18,098	16,724	16,887	20,506	18,800

Note: The above results are management figures.

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York (Former York Mart)

(Millions of yen)
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Revenues from operations	119,335	122,672	129,306	133,138	141,242	142,864	144,829	146,142	144,102	183,703	190,651
Net sales	118,422	121,640	128,214	132,067	140,145	141,649	143,610	144,975	142,936	182,219	188,961
Selling, general and administrative expenses	31,490	33,653	34,740	36,095	38,313	38,801	39,936	40,549	41,163	50,282	52,946
Operating income	3,925	2,007	2,891	2,445	2,511	2,211	1,551	1,603	684	3,253	1,473
Ordinary income	4,012	2,075	2,945	2,525	2,540	2,231	1,532	1,622	671	3,290	1,521
Net income	2,111	1,032	1,701	1,247	1,611	963	251	(746)	(1,036)	963	(288)
Capital expenditures	4,133	4,919	2,627	4,534	4,911	2,562	3,313	2,390	3,090	4,864	4,881
Depreciation and amortization*1	1,647	1,954	1,219	1,332	1,717	1,938	2,006	1,995	2,062	2,315	2,506
Total assets	39,272	41,410	41,991	45,555	48,494	47,321	47,660	47,009	47,133	67,998	72,717
Net assets	26,926	26,249	27,412	27,662	28,705	27,871	27,654	26,813	25,757	43,700	48,973
EBITDA	5,573	3,961	4,110	3,778	4,229	4,149	3,557	3,599	2,747	5,569	3,979
ROA (%)	5.5	2.6	4.1	2.9	3.4	2.0	0.5	(1.6)	(2.2)	1.4	(0.4)
Existing store sales increase (decrease) (%)	0.3	(4.9)	(0.2)	0.6	1.8	(1.6)	(0.5)	(1.2)	(2.2)	6.7	(3.4)
Merchandise gross profit margin (%)	29.5	28.8	28.9	28.8	28.8	28.6	28.6	29.0	29.2	29.1	28.7
Number of stores	68	71	74	76	76	78	78	79	78	100	101
Openings	5	5	3	2	4	2	1	2	2	23	1
Closures	2	2	0	0	4	0	1	1	3	1	0
Total sales floor space (㎡)	111,212	116,042	121,115	124,223	126,639	129,000	128,194	126,782	126,621	157,114	159,299
Sales per square meter (¥ Thousand)*2	1,127	1,108	1,118	1,130	1,158	1,149	1,154	1,145	1,128	1,227	1,197
Full-time employees (fiscal year-end)	1,269	1,325	1,191	1,227	1,245	1,255	1,307	1,316	1,316	1,603	1,653
Part-time employees*3	3,702	4,018	4,206	4,367	4,715	4,524	4,494	4,475	4,582	5,797	5,896
Sales per employee (¥ Thousand)*4	23,456	22,007	21,949	22,367	22,723	23,024	23,203	23,472	23,193	25,106	25,580

*1 From FY2014, York Mart changed the method for calculating the depreciation of property and equipment to the straight-line method from the previously used declining-balance method.

*2 Sales per square meter = Merchandise sales ÷ Weighted average floor space (㎡)

*3 Part-time employees are counted by adjusting their working hours to a 163-hour working month.

*4 Sales per employee = Net sales ÷ Average number of employees (including part-time employees)