FEDS — Annual Report 2020

Jul 15, 2020

FAR EASTERN D EPARTMENT STO RES, LTD . AND SUBSIDI ARIES CON SOLID ATED BALANCE SH EETS

Mar. 31, 2020, D ec. 31, 201 9 a nd Mar. 31, 201 9

(In thou sa nds of N ew Taiwa n D ollar s, Expect Par Valu e)

Code 1100 1110 1120 1136 1150 1170 1180 1200 1220 130X 1429 1470 11XX 1517 1535 1550 1600 1755 1760 1780 1840 1975 1985 1990 15XX 1XXX Code 2100 2110 2130 2150 2170 2180 2219 2230 2250 2280 2310 2322 2399 21XX 2540 2550 2570 2580 2640 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 Current financial assets at fair value through other comprehensive income Current financial assets at amortized cost Notes receivable Accounts receivable Accounts receivable due from related parties Other receivables Current tax assets Inventories Prepayments Other current assets Total current assets NONCURRENT ASSETS Non-current financial assets at fair value through other comprehensive income Non-current financial assets at amortized cost Investments accounted for by equity method Property, plant and equipment Right-of-use assets 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 Contract liabilities-Current Notes payable Accounts payables Notes and accounts payable to related parties Other payables Current tax liabilities Provision-current Lease liabilities - current Advance receipts Long-term borrowings – current portion Other current liabilities Total current liabilities NONCURRENT LIABILITIES Long-term borrowings Provision-noncurrent Deferred tax liabilities Lease liabilities - non-current Net defined benefit liability 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		2020/3/31（Reviewed） Amount ％ $ 11,874,828 9 447,594 - 273,827 - 1,205,312 1 3,394 - 476,717 1 132,799 - 871,018 1 10,926 - 2,818,837 2 509,254 1 92,391 - 18,716,897 15 4,167,998 3 123,000 - 9,914,822 8 34,084,522 27 44,947,586 35 9,062,779 7 2,525,041 2 522,032 - 247,629 - 1,146,026 1 1,943,826 2 108,685,261 85 $ 127,402,158 100 $ 14,348,235 11 3,276,702 3 7,882,921 6 3,484 - 8,653,550 7 32,785 - 3,216,736 3 891,466 1 3,000 - 3,825,306 3 522,007 - 2,600,000 2 277,373 - 45,533,565 36 15,009,642 12 24,879 - 2,320,341 2 25,237,915 20 726,559 - 446,686 - 43,766,022 34 89,299,587 70 14,169,406 11 3,327,474 3 3,298,695 3 2,865,351 2 2,009,320 1 8,173,366 6 4,389,967 4 97,110) - 29,963,103 24 8,139,468 6 38,102,571 30 $ 127,402,158 100		2019/12/31（Audited） Amount ％ $ 13,424,223 10 457,256 1 297,456 - 1,443,974 1 1,132 - 744,436 1 161,935 - 915,309 1 10,812 - 2,780,889 2 398,558 - 110,095 - 20,746,075 16 5,030,564 4 146,000 - 10,107,165 8 34,323,257 26 44,764,810 34 9,086,641 7 2,477,815 2 589,225 - 234,035 - 1,060,658 1 1,944,860 2 109,765,030 84 $ 130,511,105 100 $ 9,630,896 7 3,622,993 3 7,770,828 6 3,184 - 15,120,910 11 93,455 - 3,971,660 3 772,780 1 3,000 - 3,381,049 3 440,970 - 2,540,000 2 315,976 - 47,667,701 36 14,999,757 12 24,823 - 2,312,954 2 25,406,473 19 738,431 1 457,159 - 43,939,597 34 91,607,298 70 14,169,406 11 3,327,466 3 3,298,695 3 2,865,351 2 1,931,429 1 8,095,475 6 5,295,169 4 97,110) - 30,790,406 24 8,113,401 6 38,903,807 30 $ 130,511,105 100		2019/3/31（Reviewed）	2019/3/31（Reviewed）
			Amount $ 11,874,828 447,594 273,827 1,205,312 3,394 476,717 132,799 871,018 10,926 2,818,837 509,254 92,391 18,716,897 4,167,998 123,000 9,914,822 34,084,522 44,947,586 9,062,779 2,525,041 522,032 247,629 1,146,026 1,943,826 108,685,261 $ 127,402,158 $ 14,348,235 3,276,702 7,882,921 3,484 8,653,550 32,785 3,216,736 891,466 3,000 3,825,306 522,007 2,600,000 277,373 45,533,565 15,009,642 24,879 2,320,341 25,237,915 726,559 446,686 43,766,022 89,299,587 14,169,406 3,327,474 3,298,695 2,865,351 2,009,320 8,173,366 4,389,967 97,110) 29,963,103 8,139,468 38,102,571 $ 127,402,158		Amount $ 13,424,223 457,256 297,456 1,443,974 1,132 744,436 161,935 915,309 10,812 2,780,889 398,558 110,095 20,746,075 5,030,564 146,000 10,107,165 34,323,257 44,764,810 9,086,641 2,477,815 589,225 234,035 1,060,658 1,944,860 109,765,030 $ 130,511,105 $ 9,630,896 3,622,993 7,770,828 3,184 15,120,910 93,455 3,971,660 772,780 3,000 3,381,049 440,970 2,540,000 315,976 47,667,701 14,999,757 24,823 2,312,954 25,406,473 738,431 457,159 43,939,597 91,607,298 14,169,406 3,327,466 3,298,695 2,865,351 1,931,429 8,095,475 5,295,169 97,110) 30,790,406 8,113,401 38,903,807 $ 130,511,105		Amount $ 4,875,837 439,101 271,111 2,560,482 1,781 1,268,571 155,794 901,501 3,717 2,852,400 618,438 86,640 14,035,373 4,493,466 223,400 9,838,816 33,791,136 38,751,777 9,237,404 3,474,516 759,086 - 6,655,651 1,846,932 109,072,184 $ 123,107,557 $ 10,888,822 3,761,582 7,794,356 3,248 11,939,116 52,043 3,141,644 806,912 3,000 3,375,044 326,571 2,000,000 300,960 44,393,298 11,289,161 24,966 2,131,336 25,993,675 770,944 491,233 40,701,315 85,094,613 14,169,406 3,315,420 3,166,880 2,792,021 1,818,491 7,777,392 4,758,113 97,110) 29,923,221 8,089,723 38,012,944 $ 123,107,557	％
		(		(		(		4 - - 2 - 1 - 1 - 2 1 - 11 4 - 8 27 31 8 3 1 - 5 2 89 100 9 3 6 - 10 - 2 1 - 3 - 2 - 36 9 - 2 21 1 - 33 69 11 3 3 2 1 6 4 - 24 7 31 100

(Concluded)

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Year ended Mar. 31, 2020 and 2019

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

			2020				2019
			Year ended	Mar.	31		Year e nded Mar.		31
C o d e			Amount		％		Amount		％
4000	REVENUES		$ 8,634,165		100	$ 9,226,599			100
5000	COSTS		4,402,252		51		4,420,401		48
5900	GROSS PROFIT		4,231,913		49		4,806,198		52
	OPERATING EXPENSES
6100	Selling		189,262		2		218,362		2
6200	General and
	administrative		3,395,133		40		3,545,913		39
6450	Expected credit loss
	(Gain)	(	2,657)		-		514		-
6000	Total operating
	expenses		3,581,738		42		3,764,789		41
6900	OPERATING INCOME		650,175		7		1,041,409		11
	NONOPERATING INCOME
	AND EXPENSES
7190	Other income		17,755		-		28,380		-
7020	Other gains and losses		37,516		1	(	64,878 )	(	1 )
7050	Finance costs	(	223,432 )	(	3 )	(	220,050 )	(	2 )
7060	Share of profit (loss) of
	associates accounted
	for using equity
	method	(	183,664)	(	2)		30,377		1
7000	Total Non-operating
	income and
	expenses	(	351,825)	(	4)	(	226,171)	(	2)
7900	INCOME BEFORE INCOME
	TAX		298,350		3		815,238		9
7950	INCOME TAX EXPENSE		195,468		2		236,788		3
8200	NET INCOME		102,882		1		578,450		6

（ Continued ）

（ Continued ）

C o d e OTHER COMPREHENSIVE INCOME Components of other comprehensive income that will not be reclassified to profit or loss 8316 Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income 8320 Share of other comprehensive income of associates and joint ventures accounted for using equity method 8310 Components of other comprehensive income that will be reclassified to profit or loss 8361 Other comprehensive income, before tax, exchange differences on translation 8370 Share of other comprehensive income of associates accounted for using equity method 8360 8300 Total other comprehensive income, net 8500 COMPREHENSIVE INCOME 8600 NET INCOME ATTRIBUTED TO： 8610 Owners of parent 8620 Non-controlling interests 8700 CONPREHENSIVE INCOME CONTRIBUTED TO： 8710 Owners of parent 8720 Non-controlling interests EARNINGS PER SHARE 9750 Basic 9850 Diluted	2020 Year ended Mar. 31 Amount ％ ( $ 915,680 ) ( 10 ) 11,386 - ( 904,294) ( 10) 7,835 - ( 7,667) - 168 - ( 904,126) ( 10) ($ 801,244) ( 9) $ 77,891 1 24,991 - $ 102,882 1 ( $ 827,311 ) ( 9 ) 26,067 - ($ 801,244) ( 9) $ 0.06 $ 0.06		2019 Year e nded Mar.	2019 Year e nded Mar.	31
	Amount ( $ 915,680 ) 11,386 ( 904,294) 7,835 ( 7,667) 168 ( 904,126) ($ 801,244) $ 77,891 24,991 $ 102,882 ( $ 827,311 ) 26,067 ($ 801,244) $ 0.06 $ 0.06				％
					6 - 6 - - - 6 12 5 1 6 11 1 12

(Concluded)

FAR EASTERN DEPARTMENT STORES, LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended Mar. 31, 2020 and 2019

(In thousands of New Taiwan Dollars)

C o d e CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES A00010 Income before income tax A20010 Adjustments to reconcile profit(loss) A20100 Depreciation expense A20200 Amortization expense A20300 Expected credit loss (gain) A20400 Net loss (gain) on financial assets or liabilities at fair value through profit or loss A20900 Finance costs A24600 Loss (gain) on fair value adjustment of investment property A29900 Amortization of prepayments A21200 Interest income A22300 Share of loss (profit) of associates accounted for using equity method A22500 Loss (gain) on disposal of property, plant and equipment, net A22900 Gain on modifications of lease arrangements A23800 Unrealized loss (gain) on physical inventory and slow-moving inventories A30000 Net changes in operating assets and liabilities A31115 Decrease (increase) in financial assets at fair value through profit or loss, measured at fair value A31130 Notes receivable A31150 Accounts receivable A31160 Notes and accounts receivable due from related parties A31180 Other receivable A31200 Inventories A31230 Prepayments A31240 Other current assets A32125 Contract liability	2020 Year e nded Mar. 31 $ 298,350 1,445,367 19,419 ( 2,657 ) 25,022 223,432 24,692 6,991 ( 17,755 ) 183,664 3,837 ( 5 ) ( 2,875 ) ( 15,360 ) ( 2,262 ) 267,022 29,480 51,624 ( 35,073 ) ( 110,673 ) 17,704 112,093	2019 Year e nded Mar. 31
		$ 815,238 1,403,504 14,137 514 ( 1,354 ) 220,050 - 4,946 ( 28,380 ) ( 30,377 ) 884 - ( 1,292 ) - 506 312,495 859 280,877 ( 121,874 ) ( 11,217 ) ( 842 ) 268,888

（ Continued ）

（ Continued ）

C o d e A32130 Notes payable A32150 Accounts payable A32160 Notes and accounts payable to related parties A32180 Other payables A32200 Provisions A32210 Advance receipts A32230 Other current liabilities A32240 Net defined benefit assets A32240 Net defined benefit liability A33000 Cash inflow (outflow) generated from operations A33100 Interests received A33300 Interests paid A33500 Income tax returned A33500 Income taxes paid AAAA Net cash flows from (used in) operating activities CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES B00010 Acquisition of financial assets at fair value through other comprehensive income B00040 Acquisition of financial assets at amortized cost B00050 Proceeds from disposal of financial assets at amortized cost B01800 Acquisition of investments accounted for using equity method 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 B04600 Proceeds from disposal of intangible assets B05400 Acquisition of investment properties 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 C01600 Proceeds from long-term debt C01700 Repayment of long-term debt	2020 Year e nded Mar. 31 $ 300 ( 6,467,360 ) ( 60,670 ) ( 582,718 ) - 123,641 ( 38,603 ) ( 13,594 ) ( 11,872) ( 4,528,839 ) 15,165 ( 207,601 ) - ( 2,201) ( 4,723,476) ( 29,413 ) - 261,662 - ( 476,565 ) 73 - ( 66,687 ) - ( 830 ) ( 93,310) ( 405,070) 34,317,647 ( 29,569,970 ) 7,447,754 ( 7,794,045 ) 21,689,885 ( 21,620,000 )	2019 Year e nded Mar. 31
		( $ 435 ) ( 5,640,337 ) ( 52,956 ) ( 481,686 ) ( 405 ) 11,862 ( 19,987 ) - ( 37,536) ( 3,093,918 ) 29,606 ( 226,015 ) 2,114 ( 13,169) ( 3,301,382) - ( 478,563 ) - ( 1,138,000 ) ( 452,021 ) 38,305 970,133 ( 36,854 ) 139 ( 7,181 ) ( 632,072) ( 1,736,114) 41,054,329 ( 43,209,917 ) 8,680,977 ( 8,399,760 ) 18,379,161 ( 20,180,000 )

（ Continued ）

（ Continued ）

C o d e C04020 Repayment of the principal portion of lease liabilities C04400 Decrease in other non-current liabilities 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	2020 Year e nded Mar. 31 ( $ 868,461 ) ( 10,473) 3,592,337 ( 13,186) ( 1,549,395 ) 13,424,223 $ 11,874,828	2019 Year e nded Mar. 31
		( $ 1,038,339 ) ( 2,336) ( 4,715,885) 34,371 ( 9,719,010 ) 14,594,847 $ 4,875,837

(Concluded)