11 FACT BOOK 2012
FACT BOOK2012Year ended June 30, 2012
Financial Statements (Non-consolidated)
Statements of Income (Non-consolidated)
Million yen
Net salesCost of salesGross profitSelling, general and administrative expenses
Advertising and promotion expensesTransport costsCharge for salesEmployees’ salaries and bonusesWelfare expensesRetirement benefit expensesProvision for allowance for accrued bonusesProvision for allowance for retirement benefits
for directors and corporate auditorsRental costsWarehousing costsDepreciationHeat, light and waterCommissions paid Provision for accrued bonuses for directors and
corporate auditorsOthers
Operating incomeOther income
Interests income Dividend incomeRent incomeOthers
Other expensesInterests expensesRent expensesOthers
Ordinary incomeExtraordinary income
Gain on sales of fixed assetsGain on redemption of guarantee deposits receivedGain on forfeitReversal of allowance for doubtful accountsReversal of allowance for loss on turnaroundGain on return of substitutional part of
Employee's Pension Fund
OthersExtraordinary losses
Loss on sales/disposal of fixed assetsLoss on revaluation of securities of affiliated companiesImpairment loss on fixed assets
2010/6186,283109,949
76,33470,543
5,927
21,682
262
18,708
3,863
5,9615,7914,654
1,7762,001
6431,479
1,31340
8,96576
399
3,997
3,233
2009/6187,230110,378
76,85270,941
5,797
21,389
24118
19,462
3,925
25
5,8735,9112,913
1,904648
1,659196
1,43725
7,16592
5036
6
3,215
2,891
2008/6183,537107,235
76,30168,948
4,1961,8551,490
20,3803,173
440235
18
19,2713,1683,7693,062
33525
7,5257,3532,871
276
1,936658
1,726246
1,46811
8,4983,517
243
150143
3,178
2,29113
909 963
Reversal of allowance for loss on subleases 224
Provision for allowance for loss on subleases 6561
Loss on cancellation of shares due toabsorption of a subsidiary
752抱合せ株式消滅差損
OthersIncome before income taxes and other adjustmentsIncome taxes-currentIncome taxes-past fiscal yearsIncome taxes-deferredTotal income taxesNet income
35,0452,894
1,2071,6863,358
1324,0423,108
430972
1,7042,337
1799,7243,074
1,0084,0825,641
転貸損失引当金戻入
2011/6189,052108,572
80,47972,482
5,816
21,902
527
18,613
4,427
6,5697,9972,528
1,634651
1,409
1,26613
9,116106
2512
3,155
1,696
1
96,0674,128
1,0523,0752,992
685 754 809
66
災害による損失 Loss on disaster
資産除去債務会計基準適用時影響額 Loss on adjustments for change of accounting methodfor asset retirement obligations
628
808
2012/6195,093113,376
81,71773,042
5,829
21,882
415
18,103
4,715
6,8378,6752,442
1,497705
1,274
1,09047
9,84316
14
1,358
1,283
08,5013,678
9474,6253,875
798
2
26
1,8221,654
3,777
18
3,359
3,441355
30
2371
136
2226
1,7611,779 1,7751,5661,519 1,568
3,4873,316 3,791
1918
3,2933,253 3,007
2,9013,323 3,284328 328 346
2523
259 232 241101 1
128125
88 12117
01 FACT BOOK 2012 FACT BOOK 2012 02
Financial Highlights (Consolidated)
①売上高 Net sales(百万円/Million yen /円万百() Million yen /円万百() Million yen /円万百() Million yen /円万百() Million yen)
(百万円/Million yen /円万百() Million yen) )%()%(
0
50,000
100,000
150,000
200,000
②売上総利益 Gross profit
0
25,000
50,000
75,000
100,000
③営業利益 Operating income
0
3,000
6,000
9,000
12,000
15,000
④経常利益 Ordinary income
0
3,000
6,000
9,000
12,000
15,000
⑥総資産 Total assets
0
50,000
100,000
150,000
200,000
⑦純資産 Net assets
0
20,000
40,000
60,000
80,000
100,000
⑧総資産経常利益率 ROA
2012/60
2
4
6
8
10
⑨自己資本当期純利益率 ROE
2010/6 2012/62008/6 2009/60
2
4
6
8
10
⑤当期純利益 Net income
0
2,000
4,000
6,000
8,000
2011/6
188,666189,726
2012/6
8,1437,909
2012/6
8,9768,672
2012/6
149,448148,784
2012/6
92,99591,519
2011/6
2012/6
2,7283,696
2012/6
82,23182,922
2008/6 2009/6 2010/6
186,595
2008/6 2009/6 2010/6 2011/6
82,464
2008/6 2010/6 2011/6
151,398
2009/6
156,984
2008/6 2010/6 2011/6
89,076
2009/6
2008/6 2010/62009/6 2011/6
8,47210,461
2008/6 2010/62009/6 2011/6
8,737
11,261
2008/6 2010/6 2011/6
6,029
2009/6
4,163
2008/6 2010/6 2011/62009/6
Million yen
Net salesGross profitOperating incomeOrdinary incomeNet incomeTotal assetsNet assets
% Return on assets (ROA) (%)
% Return on equity (ROE) (%)
1 ROA2 ROE
Notes: 1. ROA is computed using average of the beginning and year-end total assets. 2. ROE is computed using average of the beginning and year-end net assets.
2010/6188,66682,2318,1438,9762,728
149,44892,995
6.03.0
Million yen
Winter sporting goods sales
Golf goods sales
General sporting goods sales
Others
Total
2010/617,54669,45899,0122,649
188,666
Net sales by segment (Consolidated)
ウィンタ-Winter sporting goods sales8.7%
一般スポ-ツGeneral sporting goods sales54.1%
その他Others1.3%
Million yen
Alpen5 Golf5
Sports DepoOthersTotal
2010/627,56768,26788,964
3,868188,666
2009/629,28468,76487,4584,218
189,726
2008/632,53171,83177,0055,227
186,595
Net sales by store type (Consolidated)
アルペンAlpen14.1%
スポ-ツデポSports Depo48.3%
その他Others2.2%
189,72682,9227,9098,6723,696
148,78491,519
5.84.1
2009/62008/6186,59582,4648,4728,7376,029
151,39889,076
5.77.0
2009/619,25770,25697,1073,105
189,726
2008/621,62573,63787,1354,197
186,595
ROE Return on Eguity
2012/6
2012/6
189,80585,174
95,924
5.85.7 6.07.2
2011/6189,80585,17410,46111,2614,163
156,98495,924
7.24.4
2011/617,56665,552
104,1112,575
189,805
2011/628,15164,46393,194
3,994189,805
196,00986,357
11,18812,365
5,256
166,497
99,980
7.4 7.0
4.13.0
4.45.3
2012/6196,00986,35711,18812,3655,256
166,49799,980
7.45.3
2012/617,08070,416
105,9482,563
196,009
2012/627,57669,37494,674
4,832196,009
ゴルフGolf goods sales35.9%
ゴルフ5Golf535.4%
2012/6
Notes and accounts payable
Current portion of long-term debtCurrent portion of bonds payable
Allowance for bonuses for employeesAllowance for bonuses for directors and corporate
Allowance for point services
Reserve for employee retirement benefitsAllowance for retirement and severance benefits fordirectors and corporate auditorsAllowance for loss on subleasesGuarantee money deposits received
Common stock for treasury
Valuation and translation adjustmentsNet unrealized holding gain on available-for-sale
Profit and loss of deferral hedge accountingForeign currency translation
Total valuation and translation adjustments
Total liabilities and net assets
03 FACT BOOK 2012 FACT BOOK 2012 04
Financial Statements (Consolidated)
Balance Sheets (Consolidated)
Million yen
AssetsCurrent assets
Cash and bank depositNotes and accounts receivable
InventoriesInventories Deferred tax assetsOthersAllowance for doubtful accounts
Total current assetsFixed assets
Property, plant and equipmentBuildings and structures Machinery, equipment and vehiclesTools and fixturesLandLease assetsリース資産
受取手形及び売掛金
Golf coursesConstruction in progressOthers
Total property, plant and equipmentIntangible assetsInvestment and other assets
Investment securitiesGuarantee money depositsDeferred tax assetsFixed assets for rentLong-term depositsOthersAllowance for doubtful accounts
Total investments and other assetsTotal fixed assetsTotal assets
2010/6
18,2654,095
43,3582,0202,940
71,672
25,762
9,8412,331
2,28640,223
1,442
23,7314,227
8,195
36,11077,775
149,448
2009/6
13,6404,020
45,3531,9003,225
23 968,117
28,653
11,274
2008/6
11,1383,815
46,813
リース債務
1,5293,868
2367,141
30,885612954
11,780
3,15443,082
1,134
24,3583,023
8,598122 118
36,45080,667
148,784
72384
10645,147
1,313
61925,974
2,0013,1352,7003,492
12837,79584,256
151,398
Million yen
LiabilitiesCurrent liabilities
Short-term bank loans11
Other accounts payablesIncome tax payable
auditors
Notes payable for facilitiesDeferred tax liabilities Others
Total current liabilitiesLong-term liabilities
Bonds payableLong-term debt
AllowanceDeferred tax liabilities Others
Total long-term liabilitiesTotal liabilities
Lease obligations
Net assetsShareholders’ equity
Common stockCapital surplusRetained earnings
Total Shareholders’ equity
securities
Total net assets
2010/6
27,107
9,3031,520
1,932
5,02644,891
2,600
1,698
5,35711,56056,452
1,905
15,16321,66356,302
093,129
10
5138133
92,995
149,448
2009/6
26,572
8,8042,315
1,843
6,28745,823
2,961
2008/6
27,6744,0003,1531,1008,8412,501
27225
1,909648
772,005
52,209
1,7003,339
1,708
6,77311,44257,265
902560
1443,295
13156
10,11162,321
15,16321,66354,789
091,616
17
1112
9691,519
148,784
15,16321,66352,307
089,134
34
2011357
89,076
151,398
2011/6
24,5004,489
41,0272,4233,270
76,201
25,742
9,5294,183
2,15041,606
1,459
22,9814,860
9,410
37,71680,782
156,984
10
116
2011/6
27,364
9,2523,663
1,621
6,22748,129
2,000
1,670
5,89312,92961,059
3,366
15,16321,66359,251
096,077
13
1168153
95,924
156,984
株主資本
株主資本合計評価・換算差額等
評価・換算差額等合計
有価証券 Marketable securities 5001,001 3,000
2012/6
23,0284,906
43,4821,9042,677
78,988
26,775
12,1195,960
2,11046,967
1,135
22,3574,456
9,149
39,40687,509
166,497
10
114
591 74 579 3,557
2012/6
32,958
10,1022,457
1,299
7,70054,519
600
1,711
5,02811,99866,517
4,658
15,16321,66363,293
0100,119
17
1158139
99,980
166,497
ncome before income taxes and minority in earnings of affiliates
Amortization of long-term prepaid expensesIncrease (decrease) in allowance for doubtful accountsIncrease (decrease) in allowance for point servicesncrease (decrease) in allowance for retirement benefits for employeesIncrease (decrease) in allowance for retirement benefits
Offset of house rental and other guarantee money deposits paid
Increase (decrease) in accrued consumption tax
Payments for purchase of investment securities
Payments for purchase of property, plant and equipmentProceeds from sales of property, plant and equipmentPayments for purchase of intangible assetsPayments for long-term prepaid expensesPayments for fixed guarantee money depositsCollection for fixed guarantee money deposits
Increase (decrease) in short-term bank loans
Redemption of guarantee money deposits received
Effect of exchange rate changes on cash and cash equivalentsNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at beginning of the yearCash and cash equivalents at end of the year
05 FACT BOOK 2012 FACT BOOK 2012 06
Financial Statements (Consolidated)
Statements of Income (Consolidated)
Million yen
Net salesCost of salesGross profitSelling, general and administrative expenses
Advertising and promotion expensesEmployees’ salaries and bonusesWelfare expensesRetirement benefit expensesProvision for accrued bonusesProvision for allowance for retirement benefits
for directors and corporate auditorsRent expensesDepreciationOthers
Operating incomeOther income
Interests income
OthersOther expenses
Interests expensesRent expensesLoss on revaluation of derivatives
OthersOrdinary incomeExtraordinary income
Revised gain from the previous fiscal yearGain on sales of fixed assetsGain on redemption of guarantee deposits receivedGain on forfeit
Rent incomeGain on revaluation of derivativesExchange gainCommission income受取手数料
Reversal of allowance for doubtful accounts貸倒引当金戻入Reversal of allowance for loss on subleases転貸損失引当金戻入Gain on return of substitutional part of
Employee's Pension FundGain on sales of the stocks of affiliatesOthers
Extraordinary lossesLoss on sales/disposal of fixed assetsImpairment loss on fixed assetsProvision for allowance for loss on subleasesLoss on timing differential on change of accounting methodfor retirement benefit expenses
OthersIncome before income taxes and other adjustmentsIncome taxes-currentIncome taxes-past fiscal yearsIncome taxes-deferredTotal income taxes
Net income
2010/6188,666106,435
82,23174,088
23,880
761290
19,688
29,4668,1431,809
233
443975130531188
1248,976
88
399
929
202
1622
03,937
3,924
125,1283,709
1,3082,400
2,728
2009/6188,726106,804
82,92275,013
23,613
697278
20,516
29,9067,9092,089
266
8121,326
194603500
278,672
11318
5036
2008/6186,595104,131
82,46473,991
6,42522,785
3,559472257
18
20,4414,103
15,9278,4722,247
2831,0091,051
231
6801,982
253627
1,063
378,7373,664
3207
83,101
3,178
149126
1,697
2,891
2105,6843,815
4091,4181,987
3,696
191,272
61163
18010,704
3,301
1,3744,675
6,029
Consolidated Statements of Cash Flow
Million yen
Operating activitiesIDepreciation and amortization
I
for directors and corporate auditors
Interests and dividend incomeinterests expensesLoss (gain) on revaluation of derivativesLoss on sales/disposal of fixed assetsGain on sales of fixed assetsImpairment loss of fixed assets
Gain on forfeit
(Increase) decrease in receivables(Increase) decrease in inventoriesIncrease (decrease) in payables
OthersSubtotal
Interests and dividends receivedInterests paidProceeds from refund of income taxesIncome taxes paid
Net cash provided by operating activitiesInvesting activities
Decrease in time depositsProceeds from time deposits
OthersNet cash used in investing activitiesFinancing activities
Proceeds from long-term bank loansRepayment of long-term debtRedemption of bonds payable
Repayment of lease obligationsDividends paidOthers
Net cash used in financing activities
2010/6
5,1284,195
1789
1,333235130188
3,924
399
742,014
597
86917,537
33127
31
12,856
1,1001,300
1444
261,150
26227
1,000
518275
4,74913,63418,384
23
2009/6
5,6844,320
666
1,619268194500
2,891
5036
2051,2092,083
911466
15,08249
198844
4,034 4,618
11,743
200233
1,876 2,8843
96125347439
141,984 4,070
4,0002,0003,303 2,2781,100 700
350113
1,213 1,2152
8,082 4,0100
1,67711,957
2008/6
10,7044,281
260209
722,846
18
1,804284253
1,06319
31,272
207
5154,382
604723 558442
10,41256
2581,1682,655
8,724
500200
0
8,7477
890386
2,25769362
11,943
4,000
4.7531,400
477
1,2120
3,84324 25
7,08819,04611,957Ⅶ
Exchange loss為替差損
災害による損失 Loss on disaster資産除去債務会計基準適用時影響額 Loss on adjustments for change of accounting method
for asset retirement obligations
少数株主損益調整前当期純利益 Income before minority interests
2011/6189,805104,630
85,17474,712
23,645
814557
19,432
30,26210,461
1,734244
423935132516
1411,261
107
2512
840
217
23,156
1,696
238,2115,100
1,0514,048
4,163
271
67
808628
4,163
2011/6
8,2114,637
1311
1,120245132
9
1,696
2512
3932,3221,043
51220,138
43114
45
17,177
1,7001,100
75494513
1,047377
37
434573
7,37118,38425,756
2
2,936
3,393
5,634
1,311600
1,214
4,135
22
35
Loss (gain) on redemption of guarantee deposits received災害損失
資産除去債務会計基準適用時影響額 Loss on adjustments for change of accounting methodfor asset retirement obligations
Loss on disaster
有価証券の取得による支出有価証券の償還による収入
Payments for purchase of securitiesProceeds from redemption of securities
808
628
500500
2012/6196,009109,651
86,35775,168
23,671
829463
18,878
31,32511,188
1,969244
487792142387
4812,365
17
14
743
224
01,360
1,283
7611,023
4,853
9135,767
5,256
215
2
5,256
9 270
13,634
2012/6
11,0234,949
2321
877246142270
1,283
14
4172,4636,067
1,61222,177
39106
28
15,676
300300
4196296
1,465549
25
438893
56325,75626,319
0
6,076
7,254
11,634
600350
1,214
3,496
69
17
26
500500
災害損失の支払額 Payments for loss on disaster 385
3,000
07 FACT BOOK 2012 FACT BOOK 2012 08
Financial Highlights (Non-consolidated)
0
50,000
100,000
150,000
200,000
2012/60
25,000
50,000
75,000
100,000
2012/60
3,000
6,000
9,000
12,000
15,000
2012/60
3,000
6,000
9,000
12,000
15,000
2012/60
50,000
100,000
150,000
200,000
2012/60
20,000
40,000
60,000
80,000
100,000
2012/60
2
4
6
8
10
2012/60
10
8,000
①売上高 Net sales(百万円/Million yen /円万百() Million yen /円万百() Million yen /円万百() Million yen)
(百万円/Million yen /円万百() Million yen) )%()%(
②売上総利益 Gross profit ③営業利益 Operating income ④経常利益 Ordinary income
⑥総資産 Total assets ⑦純資産 Net assets ⑧総資産経常利益率 ROA ⑨自己資本当期純利益率 ROE
(百万円/Million yen)
⑤当期純利益 Net income
76,33476,852
2011/6
76,301
2008/6 2010/62009/6
145,930144,359
2011/6
149,415
2008/6 2010/62009/6
90,90188,763
2011/6
87,658
2008/6 2010/62009/6
5,7915,911
2011/6
7,353
2008/6 2010/62009/6
8,965
7,165
2011/6
8,498
2008/6 2010/62009/6
2011/62008/6 2010/62009/6
2012/62011/62010/62009/62008/6
2009/6 2011/62008/6 2010/6
2011/6
183,537
2008/6 2010/62009/6 2012/6
186,283187,230
0
2,000
4,000
6,000
3,358
2,337
Million yen
Net salesGross profitOperating incomeOrdinary incomeNet incomeTotal assetsNet assets
% Return on assets (ROA) (%)
% Return on equity (ROE) (%)
1 ROA2 ROE
Notes: 1. ROA is computed using average of the beginning and year-end total assets. 2. ROE is computed using average of the beginning and year-end net assets.
2010/6186,28376,3345,7918,9653,358
145,93090,901
6.23.7
2009/6187,23076,8525,9117,1652,337
144,35988,763
4.92.7
2008/6183,53776,3017,3538,4985,641
149.41587,658
5.66.6
ROE Return on Eguity
189,052
80,479
7,997
9,116
2,992
152,284
92,681
2011/6189,05280,4797,9979,1162,992
152,28492,681
6.13.2
2
4
6
8 6.6
2.73.7 3.2
5,641
195,093
81,717
8,675
9,843
3,875
160,807
95,346
4.95.6
6.2 6.1 6.3
4.1
2012/6195,09381,7178,6759,8433,875
160,80795,346
6.34.1
09 FACT BOOK 2012 FACT BOOK 2012 10
Financial Statements (Non-consolidated)
Balance Sheets (Non-consolidated)
Million yen
AssetsCurrent assets
Cash and bank depositAccount receivableMarketable securitiesProductsStock of thingsPrepaid expensesShort-term loans to affiliated companiesDeferred tax assetsCorporate tax receivableOthersAllowance for doubtful accounts貸倒引当金
Total current assetsFixed assets
Property, plant and equipment BuildingsStructuresMachinery and equipmentMarine vessels and aircraftVehiclesTools and fixturesLandLease assetsConstruction in progressOthers
Total property, plant and equipmentIntangible assets
Land leaseholdsTrademark rightsSoftwareOthers
Total intangible assetsInvestment and other assets
Investment securitiesStock of affiliated companiesLong-term loans to affiliated companiesBankruptcy and rehabilitation claimsLong-term prepaid expensesDeferred tax assetsGuarantee money depositsFixed assets for rentLong-term depositsOthersAllowance for doubtful accounts
Total investment and other assetsTotal fixed assetsTotal assets
2010/6
11,6624,074
44,80149
1,858
1,271
855
65,565
23,4831,550
188274
42620
9,2022,259
203800
38,625
235
687699
1,415
343,322
432,5734,228
23,7294,4022,100
7
9
40,32380,364
145,930
2009/6
6,3033,897
46,68863
1,865
1,265
2,113
2008/6
6,0663,743
48,016
1,919890
1,307
1,720
62,197
25,3141,374
1669445
64410,067
84696
438,652
216
920145
1,093
5513,4071,730
442,9383,024
24,1974,1362,500
7122 118
42,41682,162
144,359
63,664
27,2371,538
236151
35775
10,573
804
40,631
67
1,112141
1,268
5743,5242,030
443,2732,003
25,7994,2322,700
11342
43,85185,751
149,415
Million yen
LiabilitiesCurrent liabilities
Notes payableAccounts payableShort-term bank loans
1 Current portion of long-term debt1 Current portion of bonds payable
Lease obligationsOther accounts payableAccrued expensesIncome taxes payableConsumption taxes payableAdvance receiptDeposits receivedAllowance for bonuses for employeesAllowance for point servicesAllowance for bonuses for directors and corporateauditorsNotes payable for facilities
OthersTotal current liabilitiesLong-term liabilities
Bonds payableLong-term debtLease obligationsLong-term other accounts payableGuarantee money deposits receivedAccrued retirement benefits for directors and corporateauditorsReserve for employee retirement benefitsAllowance for loss on subleasesAccumulated impairment losson long-term leased assets
OthersTotal long-term liabilitiesTotal liabilities
( Net assetsShareholders’ equity
Common stockCapital surplus
Capital reserveRetained earnings
General reserveOthers
General reserveEarned surplus carried forward
Total retained earningsCommon stock for treasury
Total shareholders’ equityValuation and translation adjustments
Net unrealized holding gains on securitiesGain/loss on deferred hedges
Total valuation and translation adjustmentsTotal net assets
Total liabilities assets and net assets
2010/6
8,22217,655
3769,3851,2851,082
183395262
1,93223
2,24644,020
4002,6001,844
1,894532
1,09588
2,175
37711,00855,028
15,163
25,074
50
1050,59350,653
090,890
100
1090,901
145,930
2009/6
8,46116,935
2,228
1758,5691,1521,757
255363241
1,84325
1,63644,561
1,0002,961
714
3,104571
963160
2008/6
8,81318,652
4,000 3,1531,100
8,8521,1522,436
132190321235
1,90925
647
1151,633
1,7003,339
1153,330
560
893144
1,457
10111,03455,596
4110,12361,757
15,163
25,074
50
1048,44948,509
088,747
171
1688,763
144,359
15,163
25,074
50
1047,32647,386
087,624
351
3487,658
149,415
長期リース資産減損勘定
災害損失引当金 Allowance for loss on disaster
資産除去債務 Asset retirement obligations
1,001
2011/6
17,2054,355
42,52347
1,755
1,694
1,215
69,288
23,3851,679
188141
60732
8,8904,041
78801
40,000
237
1,187215
1,434
5393,322
432,5974,856
22,9794,3313,000
7
10
41,56082,995
152,284
116
500
2011/6
7,71719,440
7729,4681,2923,038
147468527
1,62125
1,30847,267
502,0003,248
1,669551
1,09747
2,308
6012,33559,602
15,163
25,074
50
1052,37152,431
092,668
13
1392,681
152,284
255
1,300
株主資本
株主資本合計評価・換算差額等
評価・換算差額等合計
2012/6
9,06223,476
1,16110,680
1,3011,802
175592415
1,29930
1,74953,764
6004,565
499570
1,10452
1,810
1,11211,69665,461
15,163
25,074
50
1055,03155,091
095,328
17
1795,346
160,807
1,381
2012/6
16,7094,862
44,96554
1,616
1,149
759
73,107
24,4431,689
1467571
70711,480
5,840168801
45,424
239
904127
1,065
1,5433,296
432,3494,453
22,3484,2823,000
7
10
41,20987,700
160,807
114
3,000
968916 1,183 2,017