FEDS — Annual Report 2014

Jun 25, 2014

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

Mar. 31, 2014, Dec. 31, 2013, Mar. 31, 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 1412 1460 1470 11XX 1510 1523 1543 1546 1550 1600 1760 1780 1840 1975 1985 1990 15XX 1XXX 代 碼 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 Prepayments for lease 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		Mar. 31,2014 Amount ％ $ 8,331,154 8 231,577 - 481,848 - 489,939 1 12,067 - 676,516 1 64,296 - 1,340,252 1 241,631 - 2,931,440 3 989,520 1 319,710 - 382 - 68,052 - 16,178,384 15 - - 4,843,068 5 777,974 1 521,897 - 9,088,894 8 52,231,317 49 2,730,495 3 7,713,403 7 956,255 1 220,962 - 9,371,138 9 1,949,863 2 90,405,266 85 $ 106,583,650 100 $ 9,299,450 9 3,606,794 4 60,184 - 12,026,814 11 56,744 - 3,985,460 4 558,016 1 4,135 - 152,911 - 8,769,939 8 - - 2,444,780 2 213,849 - 41,179,076 39 1,991,166 2 20,752,000 19 31,013 - 545,458 1 1,604,259 1 2,749,768 3 27,673,664 26 68,852,740 65 14,109,761 13 3,498,174 4 2,358,917 2 2,461,168 2 3,952,002 4 8,772,087 8 3,443,877 3 97,110 ) - 29,726,789 28 8,004,121 7 37,730,910 35 $ 106,583,650 100		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 3 771,167 1 319,489 - 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		Mar. 31,2013 Amount ％ $ 8,737,755 8 384,979 - 525,377 1 753,153 1 14,445 - 1,460,966 1 45,243 - 647,927 1 300,005 - 2,983,144 3 838,470 1 319,038 - - - 70,256 - 17,080,758 16 1,015,610 1 4,542,197 4 723,099 1 632,667 - 8,901,867 8 52,645,025 48 3,043,814 3 7,715,352 7 1,160,912 1 221,313 - 9,746,710 9 1,916,479 2 92,265,045 84 $ 109,345,803 100 $ 6,586,176 6 3,935,425 4 254,035 - 14,009,242 13 90,489 - 6,670,996 6 616,341 1 16,351 - 99,396 - 7,789,701 7 3,664,524 3 800,000 1 171,769 - 44,704,445 41 1,000,000 1 22,786,003 21 30,280 - 542,293 1 1,563,500 1 2,629,469 2 28,551,545 26 73,255,990 67 13,698,797 12 3,498,174 3 2,189,631 2 1,931,285 2 4,374,792 4 8,495,708 8 3,149,448 3 97,110 ) - 28,745,017 26 7,344,796 7 36,089,813 33 $ 109,345,803 100		Jan. 1,2013	Jan. 1,2013
			Amount $ 8,331,154 231,577 481,848 489,939 12,067 676,516 64,296 1,340,252 241,631 2,931,440 989,520 319,710 382 68,052 16,178,384 - 4,843,068 777,974 521,897 9,088,894 52,231,317 2,730,495 7,713,403 956,255 220,962 9,371,138 1,949,863 90,405,266 $ 106,583,650 $ 9,299,450 3,606,794 60,184 12,026,814 56,744 3,985,460 558,016 4,135 152,911 8,769,939 - 2,444,780 213,849 41,179,076 1,991,166 20,752,000 31,013 545,458 1,604,259 2,749,768 27,673,664 68,852,740 14,109,761 3,498,174 2,358,917 2,461,168 3,952,002 8,772,087 3,443,877 97,110 ) 29,726,789 8,004,121 37,730,910 $ 106,583,650		Amount $ 13,221,405 239,974 552,555 437,497 28,119 766,445 57,302 1,779,487 418,064 2,976,244 771,167 319,489 377 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 $ 8,737,755 384,979 525,377 753,153 14,445 1,460,966 45,243 647,927 300,005 2,983,144 838,470 319,038 - 70,256 17,080,758 1,015,610 4,542,197 723,099 632,667 8,901,867 52,645,025 3,043,814 7,715,352 1,160,912 221,313 9,746,710 1,916,479 92,265,045 $ 109,345,803 $ 6,586,176 3,935,425 254,035 14,009,242 90,489 6,670,996 616,341 16,351 99,396 7,789,701 3,664,524 800,000 171,769 44,704,445 1,000,000 22,786,003 30,280 542,293 1,563,500 2,629,469 28,551,545 73,255,990 13,698,797 3,498,174 2,189,631 1,931,285 4,374,792 8,495,708 3,149,448 97,110 ) 28,745,017 7,344,796 36,089,813 $ 109,345,803		Amount $ 16,794,103 361,327 511,192 1,008,193 31,195 1,470,752 50,977 492,525 291,016 3,160,935 846,206 318,565 - 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

Year ended Mar. 31, 2014 and 2013

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

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		2014 Year ended Mar.	2014 Year ended Mar.

（ Continued ）

（ Continued ）

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 8370 Share of other comprehensive income of associates accounted for using equity method 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		2014 Year ended Mar.	2014 Year ended Mar.

(Concluded)

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended Mar. 31, 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 A20100 Depreciation expense A20200 Amortizationof deferred charges 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 A23500 Impairment loss on financial assets A29900 Amortization of prepayments A29900 Amortization of prepayments for lease 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 A22500 Loss (gain) on disposal of property, plant and equipment, net A23100 Gains on disposals of investments A23800 Unrealized loss (gain) on physical inventory 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 A31180 Other receivable A31200 Inventories A31230 Prepayments	2014 Year ended Mar. 31 $ 769,834 729,416 6,365 14 2,594 112,046 514 3,519 64,322 ( 28,000 ) ( 101,136 ) ( 27,884 ) ( 25,653 ) 3,737 - ( 4,526 ) 5,803 16,052 89,915 ( 6,994 ) 129,574 77,330 ( 218,774 )	2013 Year ended Mar. 31
		$ 1,144,055 709,415 5,281 ( 383 ) ( 25,349 ) 155,671 - 3,480 79,706 ( 23,000 ) ( 63,770 ) ( 16,543 ) ( 41,519 ) 4,214 ( 379,826 ) ( 5,725 ) - 16,750 9,786 5,734 ( 147,874 ) 206,516 7,948

（ Continued ）

（ Continued ）

（Continued）
C o d e A31240 Other current assets A31990 Prepaid pension costs 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 A33500 Income tax returned A33500 Income taxes paid AAAA Net cash flows from (used in) operating activities CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES B01800 Acquisition of investments accounted for using equity method B00600 Decrease (increase) in bond investments without active market B00400 Proceeds from disposal of available-for-sale financial assets 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 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 （Continued）	2014 Year ended Mar. 31 15,935 1,323 ( 99,010 ) ( 5,666,587 ) ( 95,165 ) ( 1,120,315 ) 1,112,950 152,911 ( 2,021 ) ( 39,042 ) ( 4,140,953 ) ( 122,095 ) 41,684 210,212 ( 133,835 ) ( 4,144,987 ) - ( 52,442 ) - ( 494,580 ) 1 271,966 ( 4,303 ) ( 22,185 ) ( 301,543 ) 17,190,302 ( 15,404,276 ) 6,808,014 ( 6,248,526 ) ( 2,500,000 ) 11,505,346	2013 Year ended Mar. 31
		438 1,353 55,513 ( 4,678,117 ) ( 80,473 ) ( 527,925 ) 429,787 99,396 ( 2,960 ) 3,139 ( 3,055,282 ) ( 122,686 ) 34,374 - ( 146,145 ) ( 3,289,739 ) ( 90,000 ) 255,040 701,854 ( 1,501,130 ) 2,134 - ( 8,799 ) ( 17,599 ) ( 658,500 ) 10,423,437 ( 13,551,116 ) 3,495,559 ( 4,208,996 ) - 14,093,796

（ Continued ）

C o d e 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	2014 Year ended Mar. 31 ( 11,595,159 ) ( 91,914 ) - ( 122,387 ) ( 458,600 ) 14,879 ( 4,890,251 ) 13,221,405 $ 8,331,154	2013 Year ended Mar. 31
		( 14,100,000 ) ( 80,541 ) ( 5 ) ( 197,462 ) ( 4,125,328 ) 17,219 ( 8,056,348 ) 16,794,103 $ 8,737,755

(Concluded)