FEDS — Annual Report 2015

Jun 22, 2015

FAR EA STERN DEPARTMENT STORES, LTD . A ND SU BSIDIARIES CO NSO LIDA TED BA LA NCE SHEETS

Mar. 31, 2015, Dec. 31, 201 4, Mar. 31, 2014 a nd Jan.1, 2014

(In thousa nds of New Taiwan Dollars , Expect Par Val ue)

Code 1100 1110 1125 1147 1150 1170 1180 1200 1220 130X 1429 1460 1470 11XX 1523 1543 1546 1550 1600 1760 1780 1840 1975 1985 1990 15XX 1XXX Code 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 CURRENT 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 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 Net defined benefit asset 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 Net defined benefit liability 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		2015/3/31 Amount ％ $ 5,856,819 6 332,653 - 503,653 1 998,777 1 36,916 - 394,924 - 189,538 - 1,463,378 1 150,946 - 3,023,108 3 1,109,683 1 113 - 94,814 - 14,155,322 13 5,060,907 5 780,624 1 125,000 - 9,494,151 9 46,984,424 44 9,667,344 9 7,221,643 7 906,739 1 183,696 - 9,369,302 9 1,923,937 2 91,717,767 87 $ 105,873,089 100 $ 7,406,657 7 2,409,359 2 47,884 - 13,348,354 13 74,213 - 4,647,402 4 658,731 1 4,135 - 121,765 - 8,297,995 8 1,000,000 1 1,000,000 1 276,019 - 39,292,514 37 993,024 1 20,688,606 19 33,804 - 562,072 - 1,746,435 2 2,803,266 3 26,827,207 25 66,119,721 62 14,391,956 13 3,498,252 3 2,575,473 3 2,461,168 2 3,081,411 3 8,118,052 8 5,998,043 6 97,110 ) - 31,909,193 30 7,844,175 8 39,753,368 38 $ 105,873,089 100		2014/12/31 Amount ％ $ 10,952,918 10 290,895 - 487,231 - 1,204,317 1 2,410 - 527,659 1 191,931 - 1,508,732 1 200,615 - 2,870,727 3 975,457 1 115 - 102,260 - 19,315,267 17 4,989,668 4 783,652 1 125,000 - 9,546,534 9 47,426,385 43 9,667,344 9 7,226,592 6 926,612 1 185,782 - 9,472,460 8 1,954,939 2 92,304,968 83 $ 111,620,235 100 $ 6,674,285 6 2,991,683 3 63,303 - 17,601,054 16 153,238 - 5,495,103 5 512,116 - 4,135 - 65,656 - 7,829,288 7 1,000,000 1 1,764,429 2 265,157 - 44,419,447 40 992,560 1 21,548,341 19 31,222 - 563,292 - 1,729,061 2 2,878,845 3 27,743,321 25 72,162,768 65 14,391,956 13 3,498,252 3 2,575,473 2 2,461,168 2 2,936,463 3 7,973,104 7 5,900,851 5 97,110 ) - 31,667,053 28 7,790,414 7 39,457,467 35 $ 111,620,235 100		2014/3/31 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 1,309,230 1 382 - 68,052 - 16,178,384 15 4,843,068 5 777,974 1 521,897 - 9,088,880 8 52,231,317 49 2,730,495 3 7,713,403 7 956,368 1 220,622 - 9,371,138 9 1,949,863 2 90,405,025 85 $ 106,583,409 100 $ 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 - 533,746 - 1,604,259 2 2,749,768 3 27,661,952 26 68,841,028 65 14,109,761 13 3,498,174 4 2,358,917 2 2,461,168 2 3,963,566 4 8,783,651 8 3,443,877 3 97,110 ) - 29,738,353 28 8,004,028 7 37,742,381 35 $ 106,583,409 100		2014/1/1
			Amount $ 5,856,819 332,653 503,653 998,777 36,916 394,924 189,538 1,463,378 150,946 3,023,108 1,109,683 113 94,814 14,155,322 5,060,907 780,624 125,000 9,494,151 46,984,424 9,667,344 7,221,643 906,739 183,696 9,369,302 1,923,937 91,717,767 $ 105,873,089 $ 7,406,657 2,409,359 47,884 13,348,354 74,213 4,647,402 658,731 4,135 121,765 8,297,995 1,000,000 1,000,000 276,019 39,292,514 993,024 20,688,606 33,804 562,072 1,746,435 2,803,266 26,827,207 66,119,721 14,391,956 3,498,252 2,575,473 2,461,168 3,081,411 8,118,052 5,998,043 97,110 ) 31,909,193 7,844,175 39,753,368 $ 105,873,089		Amount $ 10,952,918 290,895 487,231 1,204,317 2,410 527,659 191,931 1,508,732 200,615 2,870,727 975,457 115 102,260 19,315,267 4,989,668 783,652 125,000 9,546,534 47,426,385 9,667,344 7,226,592 926,612 185,782 9,472,460 1,954,939 92,304,968 $ 111,620,235 $ 6,674,285 2,991,683 63,303 17,601,054 153,238 5,495,103 512,116 4,135 65,656 7,829,288 1,000,000 1,764,429 265,157 44,419,447 992,560 21,548,341 31,222 563,292 1,729,061 2,878,845 27,743,321 72,162,768 14,391,956 3,498,252 2,575,473 2,461,168 2,936,463 7,973,104 5,900,851 97,110 ) 31,667,053 7,790,414 39,457,467 $ 111,620,235		Amount $ 8,331,154 231,577 481,848 489,939 12,067 676,516 64,296 1,340,252 241,631 2,931,440 1,309,230 382 68,052 16,178,384 4,843,068 777,974 521,897 9,088,880 52,231,317 2,730,495 7,713,403 956,368 220,622 9,371,138 1,949,863 90,405,025 $ 106,583,409 $ 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 31,013 533,746 1,604,259 2,749,768 27,661,952 68,841,028 14,109,761 3,498,174 2,358,917 2,461,168 3,963,566 8,783,651 3,443,877 97,110 ) 29,738,353 8,004,028 37,742,381 $ 106,583,409		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 7,715,184 940,225 222,615 9,464,677 1,920,123 90,835,185 $ 112,487,297 $ 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 30,483 535,105 1,608,841 2,841,682 28,848,247 75,033,935 14,109,761 3,498,174 2,358,917 1,931,285 4,107,920 8,398,122 3,659,643 97,110 ) 29,568,590 7,884,772 37,453,362 $ 112,487,297	％
		(		(		(		(		12 - - - - 1 - 2 - 3 1 - - 19 4 1 1 8 46 3 7 1 - 8 2 81 100 7 3 - 16 - 5 - - - 7 2 1 - 41 2 19 - 1 1 3 26 67 13 3 2 2 3 7 3 - 26 7 33 100

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Year ended Mar. 31, 2015 and 2014

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

			2015				2014
			Year ended	Mar.	31		Year e nded	Mar.	31
C o d e			Amount		％		Amount		％
4000	REVENUES		$ 11,012,342		100	$ 11,080,195			100
5000	COSTS		5,361,111		49		5,428,772		49
5900	GROSS PROFIT		5,651,231		51		5,651,423		51
	OPERATING EXPENSES
6100	Selling		294,969		2		349,672		3
6200	General and
	administrative		4,607,488		42		4,507,098		41
6000	Total operating
	expenses		4,902,457		44		4,856,770		44
6900	OPERATING INCOME		748,774		7		794,653		7
	NONOPERATING INCOME
	AND EXPENSES
7190	Other income		25,971		-		25,653		-
7020	Other gains and losses	(	130,429	) (	1	)	32,358		1
7050	Finance costs	(	114,447	) (	1	) (	112,046	) (	1 )
7060	Share of profit (loss) of
	associates accounted
	for using equity
	method	(	42,534	)	-		27,870		-
7000	Total Non-operating
	income and
	expenses	(	261,439	) (	2	) (	26,165	)	-
7900	INCOME BEFORE INCOME
	TAX		487,335		5		768,488		7
7950	INCOME TAX EXPENSE		286,512		3		268,289		2

（ Continued ）

（ Continued ）

C o d e 8200 NET INCOME OTHER COMPREHENSIVE INCOME 8360 Components of other comprehensive income that will be reclassified to profit or loss 8361 Other comprehensive income, before tax, exchange differences on translation 8362 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		2015 Year e nded Mar.	2015 Year e nded Mar.	31 ％ 2 - 1 - 1 3 1 1 2 2 1 3		2014 Year e nded Mar.	2014 Year e nded Mar.	31
								％
							5 - ( 2 ) - ( 2 ) 3 4 1 5 2 1 3

(Concluded)

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended Mar. 31, 2015 and 2014

(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 A23500 Impairment loss on financial assets A29900 Amortization of prepayments A29900 Amortization of prepayments for lease A29900 Recognition of provision 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 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	2015 Year e nded Mar. 31 $ 487,335 762,427 7,889 ( 923 ) ( 2,854 ) 114,447 514 3,466 80,898 2,508 ( 9,200 ) ( 65,656 ) 42,534 ( 25,971 ) 2,358 1,160 ( 38,904 ) ( 34,506 ) 140,681 2,393 43,369 ( 144,341 ) ( 134,614 )	2014 Year e nded Mar. 31
		$ 768,488 729,416 6,365 14 2,594 112,046 514 3,519 64,322 - ( 28,000 ) ( 101,136 ) ( 27,870 ) ( 25,653 ) 3,737 ( 4,526 ) 5,803 16,052 89,915 ( 6,994 ) 129,574 77,330 ( 218,774 )

（ Continued ）

（ Continued ）

C o d e A31240 Other current assets A31990 Net defined benefit asset A32130 Notes payable A32150 Accounts payable A32160 Notes and accounts payable to related parties A32180 Other payables A32210 Advance receipts A32210 Deferred revenue A32240 Net defined benefit liability 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 B00600 Acquisition of investments in debt instrument without active market B02700 Acquisition of property, plant and equipment B02800 Proceeds from disposal of property, plant and equipment B04200 Decrease in other receivables B04500 Acquisition of intangible assets B06700 Increase (decrease) 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	2015 Year e nded Mar. 31 7,446 2,086 ( 15,419 ) ( 4,252,700 ) ( 79,025 ) ( 709,461 ) 539,881 121,765 ( 1,220 ) 10,862 ( 3,140,775 ) ( 197,690 ) 27,956 25 ( 54,982 ) ( 3,365,466 ) 205,540 ( 397,823 ) 7 - ( 3,177 ) 1,963 ( 193,490 ) 11,728,446 ( 10,929,670 ) 6,280,817 ( 6,863,141 ) - 12,200,265	2014 Year e nded Mar. 31
		15,935 1,993 ( 99,010 ) ( 5,666,587 ) ( 95,165 ) ( 1,120,315 ) 1,112,950 152,911 ( 1,359 ) ( 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

（ Continued ）

（ Continued ）

C o d e C01700 Repayment of long-term debt C04400 Decrease 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	2015 Year e nded Mar. 31 ( 13,825,000 ) ( 31,951 ) ( 15 ) ( 81,392 ) ( 1,521,641 ) ( 15,502 ) ( 5,096,099 ) 10,952,918 $ 5,856,819	2014 Year e nded Mar. 31
		( 11,595,159 ) ( 91,914 ) - ( 122,387 ) ( 458,600 ) 14,879 ( 4,890,251 ) 13,221,405 $ 8,331,154

(Concluded)