RNS Number:7668O
Autobacs Seven Co.Ld
18 August 2003

August 18, 2003



Summary of Quick Financial Announcement of Consolidated Financial Information
for the First Quarter Ended June 30, 2003



Company name: AUTOBACS SEVEN CO., LTD.
Code Number: 9832
 (URL   http://www.autobacs-seven.com/)
Company Representative: Koichi Sumino, Representative Director
Contact for further information: Takashi Matsuo, Director
Telephone: +81-3-3454-0062
Stock Exchange Listings: First Section, both of Tokyo, Osaka and London



1.   Notes concerning the preparation of the consolidated financial statements
for the three months ended:

(1) Standards applied in preparing the financial statement: The standards
applied in preparing the interim consolidated financial statements

(2) Change in accounting policies: None

      Accounting policies that differ from the interim settlement of accounts:
None

(3) Change in the scope of application of consolidation or the equity method:

     Number of consolidated companies:
            New: 2           Excluded: 3

     Number of companies to which the equity method is applied:            New:
3           Excluded: 1

(4) Participation of a certified public accountant or audit corporation: None



2.   Results for the three months ended (from April 1, 2003 to June 30, 2003):

    (Note: Amounts less than 1 million Yen have been rounded down)



(1) Results of operations:

 (Unit: Millions of Yen except for per share information)
                                    Net sales              Operating income           Ordinary income
Three months ended June 30,
2003                                   57,200                      1,217                     1,958
Three months ended June 30,
2002
                                            -                          -                         -
(Reference) Fiscal year
ended March 31, 2003                  230,478                      7,652                    10,273

                                    Net income             Basic net income      Basic net income per share
                                                                                      - Diluted (Yen)
                                                            per share (Yen)
Three months ended June 30,                                       
2003                                     452                      12.21                         -
Three months ended June 30,                                           
2002                                       -                          -                         -
(Reference) Fiscal year                                          
ended March 31, 2003                   4,003                     106.76                         -

Note: Financial figures for the three months ended June 30, 2002 are not
provided because the Companies adopted the quarterly disclosure system on
consolidated financial information for the first time in fiscal year 2004.



(2) Financial position:

     (Unit: Millions of Yen except for per share information)
                              Total assets        Shareholders'    Shareholders' equity Shareholders' equity
                                                     equity               ratio           per share (Yen)
Three months ended June                                                      76.0%             4,024.82
30, 2003
                                  189,512             143,935
Three months ended June
30, 2002
                                        -                   -                    -                    -
(Reference) Fiscal year                                                      77.9%             3,979.02
ended March 31, 2003
                                  187,138             145,817

Note: Financial figures for the three months ended June 30, 2002 are not
provided because the Companies adopted the quarterly disclosure system on
consolidated financial information for the first time in fiscal year 2004.



(3) Statements of cash flows:
     (Unit: Millions of Yen)
                               Operating      Investing activities     Financing       Ending balances of
                               activities                              activities        cash and cash
                                                                                          equivalents
Three months ended June             238               (2,041)             (3,622)              18,005
30, 2003
Three months ended June               -                     -                   -                   -
30, 2002
(Reference) Fiscal year           7,925               (8,002)             (9,098)              23,437
ended March 31, 2003

Note: Financial figures for the three months ended June 30, 2002 are not
provided because the Companies adopted the quarterly disclosure system on
consolidated financial information for the first time in fiscal year 2004.



3.   Forecast for the fiscal year 2004 (from April 1, 2003 to March 31, 2004)

      (Unit: Millions of Yen)
                                Net sales         Ordinary income         Net income      Basic net income per
                                                                                              share (Yen)
Six months ending
September 30, 2003               110,000               4,900                2,300                64.01
Fiscal year ending March
31, 2004                         234,000               10,700               5,000                139.52

Note:  At present, no revision was made on the interim and final results'
forecast announced on May 21, 2003.This forecast is based on the assumptions,
estimates, recognition of facts and projections, which are currently available
to the management of the Company. The actual results may differ materially from
the projected figures in this release due to differences in actual experience or
changes in assumptions.






Consolidated Balance Sheets

(Unit: Millions of Yen)

Assets                                          June 30, 2003          June 30, 2002         March31, 2003
                                              Amount         Ratio   Amount        Ratio      Amount      Ratio
                                                                 %                     %                      %
Current assets
Cash and deposits                                18,271                     -                 23,681
Trade notes and accounts receivable              16,839                     -                 12,272
Marketable securities                             8,707                     -                  5,721
Inventories                                      19,582                     -                 17,549
Deferred tax assets                               2,682                     -                  2,240
Accounts receivable-other                        12,415                     -                 13,302
Other current assets                              4,644                     -                  3,159
Allowance for doubtful receivables              (2,057)                     -                (2,100)
Total current assets                             81,085       42.8          -          -      75,828       40.5

Fixed assets
Tangible fixed assets
Buildings and structures                         26,077                     -                 26,370
Land                                             24,996                     -                 25,014
Other fixed assets                                8,529                     -                  8,079
Total tangible fixed assets                      59,603                     -                 59,463

Intangible fixed assets
Software                                          2,145                     -                  2,327
Other intangible fixed assets                       432                     -                    468
Total intangible fixed assets                     2,578                     -                  2,795

Investments
Investment securities                            13,991                     -                 16,128
Long-term loans                                   3,834                     -                  3,614
Deferred tax assets                               2,636                     -                  3,182
Rental deposits                                  25,204                     -                 25,375
Other investments                                 2,018                     -                  2,069
Allowance for doubtful receivables              (1,440)                     -                (1,319)
Total investments                                46,245                     -                 49,051
Total fixed assets                              108,427       57.2          -          -     111,310       59.5



Total assets                                    189,512      100.0          -          -     187,138      100.0







 (Unit: Millions of Yen)

Liabilities and Shareholders' equity            June 30, 2003          June 30, 2002         March31, 2003
                                              Amount         Ratio   Amount        Ratio      Amount      Ratio
                                                                 %                     %                      %
Current liabilities
Trade notes and accounts   payable-trade         18,432                     -                 13,109
Short-term borrowings                             1,928                     -                  3,111
Income taxes payable                              1,590                     -                  2,342
Other current liabilities                        11,806                     -                 11,397
Total current liabilities                        33,757       17.8          -          -      29,961       16.0

Long-term liabilities
Long-term debt                                    2,513                     -                  2,019
Liability for retirement benefits                 1,297                     -                  1,299
Accrued retirement benefits for directors           233                     -                    233
and corporate auditors
Goodwill                                             21                     -                     42
Other long-term liabilities                       7,261                     -                  7,239
Total long-term liabilities                      11,327        6.0          -          -      10,834        5.8
Total liabilities                                45,084       23.8          -          -      40,796       21.8

Minority interests                                  493        0.2          -          -         524        0.3

Shareholders' equity
Common stock                                     31,958       16.9          -          -      31,958       17.1
Capital Surplus                                  32,241       17.0          -          -      32,241       17.2
Retained earnings                                84,320       44.5          -          -      84,523       45.2
Net unrealized loss on investment                    29        0.0          -          -       (126)      (0.1)
securities
Foreign currency translation adjustments          (228)      (0.1)          -          -       (179)      (0.1)
Treasury stock, at cost                         (4,387)      (2.3)          -          -     (2,601)      (1.4)
Total shareholders' equity                      143,935       76.0          -          -     145,817       77.9


Total liabilities, minority interests and       189,512 100.0               -          -     187,138 100.0
shareholders' equity






Consolidated Statements of Income

(Unit: Millions of Yen)
                                            Three months ended    Three months ended         Year ended
                                               June 30, 2003         June 30, 2002         March31, 2003
                                             Amount        Ratio   Amount        Ratio      Amount      Ratio
                                                               %                     %                      %
Net sales                                      57,200      100.0          -          -     230,478      100.0
Cost of goods sold                             41,394       72.4          -          -     163,457       70.9
Gross profit                                   15,805       27.6          -          -      67,021       29.1

Selling, general and administrative                                       -          -
expenses
                                               14,587       25.5                            59,369       25.8
Operating income                                1,217        2.1          -          -       7,652        3.3

Non-operating income
Interest income                                    68                     -                    378
Rental income                                     538                     -                  1,778
Lease revenue - system equipment                  199                     -                    805
Other income                                      693                     -                  3,247
Total non-operating income                      1,500        2.6          -          -       6,210        2.7
Non-operating expenses
Interest expenses                                  36                     -                    152
Loss on disposal of fixed assets                   36                     -                    421
  Equity in net losses of affiliated              172                     -                      -
     company
Other expenses                                    514                     -                  3,016
Total non-operating expenses                      759        1.3          -          -       3,589        1.5
Ordinary income                                 1,958        3.4          -          -      10,273        4.5

Extraordinary gains
Reversal of allowance for doubtful                  -                     -
receivables
                                                                                               470
Others                                              -                     -                      9
Total extraordinary gains                           -     -               -     -              480        0.2
Extraordinary losses
Loss on store arrangement                           -                     -                    184
Write down of land                                  -                     -                    189
Loss on sale of investment securities               -                     -                     45
Write down of investment securities                 -                     -                    330
Extraordinary retirement benefits                   -                     -                    377
Others                                              -                     -                      9
Total extraordinary losses                          -     -               -     -            1,137        0.5

Income before income taxes and minority                                   -          -
interests
                                                1,958        3.4                             9,616        4.2
Income taxes - current                          1,541        2.7          -          -       5,392        2.4
Income taxes - deferred                          (21) (0.1)               -          -         300        0.1
Loss of minority interests                         14        0.0          -          -          80        0.0
Net income                                        452        0.8          -          -       4,003        1.7



Consolidated Statements of Cash Flows
(Unit: Millions of Yen)
                                            Three months ended     Three months ended          Year ended
                                               June 30, 2003          June 30, 2002          March 31, 2003
                                                           Amount                Amount                   Amount

Operating Activities:
Net income before income taxes and                          1,958                     -                    9,616
minority interests
Depreciation and amortization                               1,369                     -                    5,394
Lease revenue                                               (599)                     -                  (1,818)
Increase in trade notes and accounts                      (3,591)                     -                    (130)
receivable
Increase in inventories                                   (1,835)                     -                    (842)
Increase (Decrease) in trade notes and                      4,894                     -                  (1,480)
accounts payable
Others                                                        180                     -                    1,979
Subtotal                                                    2,376                     -                   12,718
Interest and dividend received                                196                     -                      806
Interest paid                                                (39)                     -                    (154)
Taxes paid                                                (2,294)                     -                  (5,445)
Net cash provided by operating activities                     238                     -                    7,925
Investing Activities:
Proceeds from sales of marketable                               -                     -                    1,599
securities
Payment for tangible and intangible fixed                 (1,750)                     -                  (9,728)
assets other than software
Payment for investment securities                         (1,796)                     -                 (10,235)
Proceeds from sale of investment                              990                     -                    7,182
securities
Collection of loans                                           882                     -                    1,996
Payment for rental deposits                                 (245)                     -                  (1,408)
Lease revenue                                                 489                      -                   1,459
Others                                                      (612)                     -                    1,131
Net cash used in investing activities                     (2,041)                     -                  (8,002)
Financing Activities:
Net decrease in short-term borrowings                     (1,219)                     -                  (2,562)
Repayments of long-term debt                                (104)                     -                  (3,467)
Purchase of common stock                                  (1,791)                     -                  (2,575)
Dividends paid                                              (659)                     -                  (1,349)
Others                                                        152                     -                      856
Net cash used in financing activities                     (3,622)                     -                  (9,098)
Effect of exchange rate changes on cash                         6                     -                     (25)
and cash equivalents
Net decrease in cash and cash equivalents                 (5,419)                     -                  (9,200)
Cash and cash equivalents, beginning of                    23,437                     -                   32,835
the period
Decrease in cash and cash equivalents                        (12)                     -                    (197)
exclusion of consolidated subsidiaries
Cash and cash equivalents, end of the                      18,005                     -                   23,437
period



Consolidated Sales Component and Percentage by Division
(Unit: Millions of Yen)

                                      Three months ended       Three months ended            Year ended
                                        June 30, 2003             June 30, 2002            March 31, 2003


Divisions                             Amount            Ratio    Amount      Ratio       Amount       Ratio
                                                            %                       %                        %
Wholesale                                 36,343         63.5            -          -       137,267       59.6

Retail                                    20,856         36.5            -          -        93,211       40.4
Total                                     57,200        100.0            -          -       230,478      100.0





Consolidated Sales Component and Percentage by Product Category

(Unit: Millions of Yen)

                                     Three months ended        Three months ended            Year ended
                                        June 30, 2003             June 30, 2002            March 31, 2003

Products                              Amount       Ratio       Amount        Ratio       Amount       Ratio
                                                          %                         %                        %
Tires and wheels                           9,979       17.5             -           -        47,243       20.5
Car electronics                           19,087       33.4             -           -        68,672       29.8
Oil and batteries                          4,201        7.3             -           -        19,253        8.3
Car exterior items                         5,623        9.8             -           -        25,969       11.3
Car interior items                         5,887       10.3             -           -        20,776        9.0
Motor sports goods
 and others                               12,420       21.7             -           -        48,564       21.1
Total                                     57,200      100.0             -           -       230,478      100.0








                      This information is provided by RNS
            The company news service from the London Stock Exchange
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