FEDS — Annual Report 2014

Nov 24, 2014

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

Sep. 30, 2014, Dec. 31, 2013, Sep. 30, 2013 and Jan. 1, 2013

(In thousands of New Taiwan Dollars, Expect Par Value)

Code 1100 1110 1125 1147 1150 1170 1180 1200 1220 130X 1429 1460 1470 11XX 1510 1523 1543 1546 1550 1600 1760 1780 1840 1975 1985 1990 15XX 1XXX C o d e 2100 2110 2150 2170 2180 2219 2230 2250 2313 2310 2321 2322 2399 21XX 2530 2540 2550 2640 2570 2670 25XX 2XXX 3110 3200 3310 3320 3350 3300 3400 3500 31XX 36XX 3XXX	Assets ASSETS Cash and cash equivalents Financial assets at fair value through profit or loss - current Available-for-sale financial assets - current Bond investments without active market-current Notes receivable Accounts receivable Accounts receivable due from related parties Other receivables Current tax assets Inventories Prepayments Noncurrent asset held for sale Other current assets Total current assets NONCURRENT ASSETS Financial assets at fair value through profit or loss - noncurrent Available-for-sale financial assets - noncurrent Financial assets measured at cost – noncurrent Bond investments without active market－ non-current Investments accounted for by equity method Property, plant and equipment Investment properties Intangible assets Deferred tax assets Prepaid pension cost Long-term prepayments for lease Other noncurrent assets Total noncurrent assets TOTAL LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term debts Short-term notes and bills payable Notes payable Accounts payables Notes and accounts payable to related parties Other payables Current tax liabilities Provision-current Deferred revenue - current Advance receipts Bond issued – current portion Long-term borrowings – current portion Other current liabilities Total current liabilities NONCURRENT LIABILITIES Bonds issued Long-term borrowings Provision-noncurrent Accrued pension liabilities Deferred tax liabilities Other noncurrent liabilities Total noncurrent liabilities Total liabilities EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY Share Capital Ordinary share Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Treasury stock Total equity attributable to owners of the Company NON-CONTROLLING INTERESTS Total equity TOTAL		Sep. 30,2014 Amount ％ $ 4,990,052 5 276,840 - 474,363 1 1,204,190 1 19,394 - 434,378 1 135,292 - 1,320,031 1 246,174 - 3,100,463 3 1,343,804 1 113 - 62,933 - 13,608,027 13 - - 4,942,040 4 776,667 1 436,897 - 9,258,247 9 47,861,828 45 9,689,275 9 7,723,849 7 943,368 1 218,315 - 9,252,179 9 1,946,701 2 93,049,366 87 $ 106,657,393 100 $ 10,714,741 10 3,768,892 4 34,019 - 12,398,501 12 66,875 - 4,973,206 5 234,108 - 4,135 - 165,429 - 8,321,753 8 1,000,000 1 2,444,361 2 258,825 - 44,384,845 42 992,095 1 17,828,000 17 31,152 - 541,755 - 1,714,468 2 2,760,424 2 23,867,894 22 68,252,739 64 14,391,956 14 3,498,174 3 2,575,473 3 2,461,168 2 2,465,659 2 7,502,300 7 5,655,307 5 97,110 ) - 30,950,627 29 7,454,027 7 38,404,654 36 $ 106,657,393 100		Dec. 31,2013 Amount ％ $ 13,221,405 12 239,974 - 552,555 - 437,497 - 28,119 - 766,445 1 57,302 - 1,779,487 2 418,064 - 2,976,244 3 1,090,656 1 377 - 83,987 - 21,652,112 19 - - 4,986,339 4 776,374 1 521,897 1 9,050,368 8 52,166,888 46 3,070,495 3 7,715,184 7 940,225 1 222,285 - 9,464,677 8 1,920,123 2 90,834,855 81 $ 112,486,967 100 $ 7,462,340 7 3,047,306 3 159,194 - 17,693,401 16 151,909 - 5,252,331 5 401,874 - 4,135 - 101,136 - 7,720,500 7 2,493,512 2 1,445,159 1 252,891 - 46,185,688 41 1,990,702 2 21,841,434 19 30,483 - 547,479 1 1,608,841 1 2,841,682 3 28,860,621 26 75,046,309 67 14,109,761 13 3,498,174 3 2,358,917 2 1,931,285 2 4,095,216 3 8,385,418 7 3,659,643 3 97,110 ) - 29,555,886 26 7,884,772 7 37,440,658 33 $ 112,486,967 100		Sep. 30,2013 Amount ％ $ 6,672,860 6 1,393,671 1 539,361 1 174,306 - 20,598 - 803,050 1 28,101 - 1,616,599 2 471,792 - 3,090,340 3 984,049 1 - - 63,233 - 15,857,960 15 - - 4,800,102 5 774,298 1 521,896 - 9,040,385 8 52,266,179 49 3,043,814 3 7,714,854 7 954,582 1 218,607 - 9,557,645 9 2,008,807 2 90,901,169 85 $ 106,759,129 100 $ 7,672,350 7 4,529,642 4 60,331 - 12,163,313 11 57,235 - 6,962,414 7 134,752 - 4,135 - 108,525 - 7,929,444 7 3,683,812 4 684,000 1 233,309 - 44,223,262 41 1,000,000 1 20,562,569 19 30,416 - 535,867 1 1,571,738 1 2,794,843 3 26,495,433 25 70,718,695 66 14,109,761 13 3,498,174 3 2,358,917 2 1,931,285 2 3,385,641 3 7,675,843 7 3,501,665 4 97,110 ) - 28,688,333 27 7,352,101 7 36,040,434 34 $ 106,759,129 100		Jan. 1,2013	Jan. 1,2013
			Amount $ 4,990,052 276,840 474,363 1,204,190 19,394 434,378 135,292 1,320,031 246,174 3,100,463 1,343,804 113 62,933 13,608,027 - 4,942,040 776,667 436,897 9,258,247 47,861,828 9,689,275 7,723,849 943,368 218,315 9,252,179 1,946,701 93,049,366 $ 106,657,393 $ 10,714,741 3,768,892 34,019 12,398,501 66,875 4,973,206 234,108 4,135 165,429 8,321,753 1,000,000 2,444,361 258,825 44,384,845 992,095 17,828,000 31,152 541,755 1,714,468 2,760,424 23,867,894 68,252,739 14,391,956 3,498,174 2,575,473 2,461,168 2,465,659 7,502,300 5,655,307 97,110 ) 30,950,627 7,454,027 38,404,654 $ 106,657,393		Amount $ 13,221,405 239,974 552,555 437,497 28,119 766,445 57,302 1,779,487 418,064 2,976,244 1,090,656 377 83,987 21,652,112 - 4,986,339 776,374 521,897 9,050,368 52,166,888 3,070,495 7,715,184 940,225 222,285 9,464,677 1,920,123 90,834,855 $ 112,486,967 $ 7,462,340 3,047,306 159,194 17,693,401 151,909 5,252,331 401,874 4,135 101,136 7,720,500 2,493,512 1,445,159 252,891 46,185,688 1,990,702 21,841,434 30,483 547,479 1,608,841 2,841,682 28,860,621 75,046,309 14,109,761 3,498,174 2,358,917 1,931,285 4,095,216 8,385,418 3,659,643 97,110 ) 29,555,886 7,884,772 37,440,658 $ 112,486,967		Amount $ 6,672,860 1,393,671 539,361 174,306 20,598 803,050 28,101 1,616,599 471,792 3,090,340 984,049 - 63,233 15,857,960 - 4,800,102 774,298 521,896 9,040,385 52,266,179 3,043,814 7,714,854 954,582 218,607 9,557,645 2,008,807 90,901,169 $ 106,759,129 $ 7,672,350 4,529,642 60,331 12,163,313 57,235 6,962,414 134,752 4,135 108,525 7,929,444 3,683,812 684,000 233,309 44,223,262 1,000,000 20,562,569 30,416 535,867 1,571,738 2,794,843 26,495,433 70,718,695 14,109,761 3,498,174 2,358,917 1,931,285 3,385,641 7,675,843 3,501,665 97,110 ) 28,688,333 7,352,101 36,040,434 $ 106,759,129		Amount $ 16,794,103 361,327 511,192 1,008,193 31,195 1,470,752 50,977 492,525 291,016 3,160,935 1,164,771 - 70,694 25,407,680 1,013,913 5,468,512 718,583 632,667 8,811,079 52,946,768 3,043,814 7,711,555 1,131,574 222,666 9,837,349 1,902,572 93,441,052 $ 118,848,732 $ 9,613,446 4,648,862 198,522 18,687,359 170,962 8,439,193 563,223 16,351 63,770 7,449,114 1,200,000 1,600,000 168,630 52,819,432 3,454,937 21,992,207 30,213 545,253 1,549,219 2,710,010 30,281,839 83,101,271 13,698,797 3,498,174 2,189,631 1,931,285 3,596,568 7,717,484 3,773,795 97,110 ) 28,591,140 7,156,321 35,747,461 $ 118,848,732	％
		(		(		(		(		14 - 1 1 - 1 - - - 3 1 - - 21 1 5 1 - 7 45 3 6 1 - 8 2 79 100 8 4 - 16 - 7 1 - - 6 1 1 - 44 3 19 - 1 1 2 26 70 12 3 2 1 3 6 3 - 24 6 30 100

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

From Jul. 1 to Sep. 30, 2014 and 2013, and Year ended Sep. 30, 2014 and 2013 (In thousands of New Taiwan Dollars, Expect Par Value)

C o d e 4000 REVENUES 5000 COSTS 5900 GROSS PROFIT OPERATING EXPENSES 6100 Selling 6200 General and administrative 6000 Total operating expenses 6900 OPERATING INCOME NONOPERATING INCOME AND EXPENSES 7190 Other income 7020 Other gains and losses 7050 Finance costs 7060 Share of profit (loss) of associates accounted for using equity method 7000 Total Non-operating income and expenses 7900 INCOME BEFORE INCOME TAX 7950 INCOME TAX EXPENSE 8200 NET INCOME OTHER COMPREHENSIVE INCOME 8310 Other comprehensive income, before tax, exchange differences on translation 8325 Other comprehensive income, before tax, available-for-sale financial assets 8350 Other comprehensive income, before tax, gains (losses) on revaluation 8370 Share of other comprehensive income of associates accounted for using equity method 8399 Income tax relating to components of other comprehensive income 8300 Total other comprehensive income, net 8500 COMPREHENSIVE INCOME NET INCOME ATTRIBUTED TO： 8610 Owners of parent 8620 Non-controlling interests 8600 CONPREHENSIVE INCOME CONTRIBUTED TO： 8710 Owners of parent 8720 Non-controlling interests 8700 EARNINGS PER SHARE 9750 Basic 9850 Diluted	From Jul. 1 to Sep. 30, 2014 Amount ％ $10,652,589 100 5,375,520 50 5,277,069 50 226,820 2 4,640,313 44 4,867,133 46 409,936 4 264,238 3 ( 57,929 ) ( 1 ) ( 118,283 ) ( 1 ) ( 6,496 ) - 81,530 1 491,466 5 106,526 1 384,940 4 14,571 - ( 170,330 ) ( 2 ) 2,328,026 22 ( 87,850 ) ( 1 ) ( 157,056 ) (1 ) 1,927,361 18 $ 2,312,301 22 $ 334,669 3 50,271 1 $ 384,940 4 $ 2,262,674 21 49,627 1 $ 2,312,301 22 $ 0.23 $ 0.23	From Jul. 1 to Sep. 30, 2013 Amount ％ $10,655,124 100 5,543,325 52 5,111,799 48 231,338 2 4,726,204 44 4,957,542 46 154,257 2 253,315 2 490,259 5 ( 89,527 ) ( 1 ) 29,685 - 683,732 6 837,989 8 272,130 2 565,859 6 ( 14,433 ) - 163,149 1 - - ( 20,182 ) - - - 128,534 1 $ 694,393 7 $ 490,658 5 75,201 1 $ 565,859 6 $ 620,557 6 73,836 1 $ 694,393 7 $ 0.34 $ 0.34

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended Sep. 30, 2014 and 2013

(In thousands of New Taiwan Dollars)

C o d e CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES A00010 INCOME BEFORE INCOME TAX A20000 Adjustments to reconcile profit(loss) A20100 Depreciation expense A20200 Amortization expense A20300 Gain on reversal of losses on doubtful debts A20400 Net loss (gain) on financial assets or liabilities at fair value through profit or loss A20900 Finance costs A23000 Loss (gain) on disposal of non-current assets classified as held for sale A23500 Impairment loss on financial assets A29900 Reversal of provisions A29900 Amortization of prepayments A29900 Reversal unrealized purchase discounts A29900 Reversal of deferred revenue A22300 Share of loss (profit) of associates accounted for using equity method A21200 Interest income A21300 Dividend income A22500 Loss (gain) on disposal of property, plant and equipment, net A22800 Losses on disposals of intangible assets A23100 Gains on disposals of investments A23700 Loss for market price decline and obsolete and slow-moving inventories A30000 Net changes in operating assets and liabilities A31110 Financial assets held for trading A31130 Notes receivable A31150 Accounts receivable A31160 Notes and accounts receivable due from related parties	Year ended Sep. 30,2014 $ 1,845,897 2,195,953 20,502 ( 1,770 ) ( 6,816 ) 341,346 ( 316 ) 1,541 - 251,567 ( 27,000 ) ( 101,136 ) ( 104,535 ) ( 70,728 ) ( 264,620 ) 14,613 - - 32,866 ( 30,050 ) 8,725 332,206 ( 78,129 )	Year ended Sep. 30,2013
		$ 2,419,395 2,180,721 18,150 ( 5,696 ) ( 18,431 ) 390,476 - 513 ( 12,216 ) 249,994 ( 17,700 ) ( 63,770 ) ( 159,477 ) ( 97,217 ) ( 234,250 ) 35,539 2,480 ( 379,826 ) 38,228 - 10,597 661,421 22,876

（ Continued ）

（Continued）

C o d e A31180 Other receivable A31200 Inventories A31230 Prepayments A31240 Other current assets A31990 Prepaid pension costs A31990 Long-term prepayments for lease A32130 Notes payable A32150 Accounts payable A32160 Notes and accounts payable to related parties A32180 Other payables A32210 Advance receipts A32210 Deferred revenue A32240 Accrued pension liabilities A32230 Other current liabilities A33000 Cash inflow (outflow) generated from operations A33300 Interests paid A33100 Interests received A33200 Dividends received A33500 Income tax returned A33500 Income taxes paid AAAA Net cash flows from (used in) operating activities CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES B00400 Proceeds from disposal of available-for-sale financial assets B00600 Decrease (increase) in bond investments without active market B01200 Acquisition of financial assets at cost B01800 Acquisition of investments accounted for using equity method B02100 Decrease in prepayments for long-term investment B02600 Proceeds from disposal of non-current assets classified as held for sale B02700 Acquisition of property, plant and equipment B02800 Proceeds from disposal of property, plant and equipment B04100 Decrease (increase) in other receivable B04500 Acquisition of intangible assets B06700 Decrease (increase) in other non-current assets BBBB Net cash flows from (used in) investing activities	Year ended Sep. 30,2014 305,507 ( 130,085 ) ( 253,148 ) 21,054 3,970 ( 76,906 ) ( 125,175 ) ( 5,294,900 ) ( 85,034 ) ( 1,161,382 ) 807,492 165,429 ( 5,724 ) 5,934 ( 1,462,852 ) ( 354,519 ) 85,452 265,317 210,212 ( 827,726 ) ( 2,084,116 ) - ( 681,693 ) - ( 360,000 ) 78,456 582 ( 1,573,147 ) 475 278,286 ( 28,950 ) ( 4,489 ) ( 2,290,480 )	Year ended Sep. 30,2013
		147,744 50,067 181,169 7,461 4,059 - ( 138,191 ) ( 6,524,046 ) ( 113,727 ) ( 1,488,149 ) 689,762 108,525 ( 9,387 ) 64,679 ( 1,978,227 ) ( 354,215 ) 93,064 322,086 - ( 1,017,207 ) ( 2,934,499 ) 701,854 944,658 ( 50,000 ) ( 147,899 ) 47,825 - ( 2,676,942 ) 3,581 ( 1,237,779 ) ( 22,954 ) ( 117,821 ) ( 2,555,477 )

（ Continued ）

（Continued）

C o d e Cash flows from (used in) financing activities C00100 Increase in short-term loans C00200 Decrease in short-term loans C00500 Increase in short-term notes and bills payable C00600 Decrease in short-term notes and bills payable C01300 Repayments of bonds C01600 Proceeds from long-term debt C01700 Repayment of long-term debt C04300 Increase in other non-current liabilities C04500 Dividends paid by parent company C05800 Dividends paid to non-controlling interests CCCC Net cash flows from (used in) financing activities DDDDEffect of exchange rate changes on cash and cash equivalents EEEE Net increase (decrease) in cash and cash equivalents E00100Cash and cash equivalents at beginning of period E00200Cash and cash equivalents at end of period	Year ended Sep. 30,2014 56,079,462 ( 52,879,060 ) 17,444,137 ( 16,722,551 ) ( 2,500,000 ) 32,159,768 ( 35,174,000 ) 14,816 ( 1,622,590 ) ( 720,319 ) ( 3,920,337 ) 63,580 ( 8,231,353 ) 13,221,405 $ 4,990,052	Year ended Sep. 30,2013
		39,767,771 ( 41,768,786 ) 19,771,211 ( 19,890,431 ) - 39,204,362 ( 41,550,000 ) 84,834 ( 129 ) ( 197,462 ) ( 4,578,630 ) ( 52,637 ) ( 10,121,243 ) 16,794,103 $ 6,672,860

(Concluded)