Hokuto : Consolidated Financial Results for the third quarter Ended December 31, 2021

HOKUTO Corporation

Consolidated Financial Results

for the third quarter Ended

December 31, 2021

February, 2022

Contents

1. The financial report for the third quarter Ended December 31, 2021
2. Recent Activities
3. Reference material

2

Outline of consolidated reports for the 3rd quarter of FY March 2022

◆Consolidated			(Millions of yen)		◆Individual	(Millions of yen)
		3Q ended	3Q ended			3Q ended	3Q ended
		Dec. 31,	Dec. 31,	YoY		Dec. 31,	Dec. 31,		YoY
		2021	2020			2021	2020
Net sales		52,539	55,439	－		36,106	39,765	－
Operating profit		1,440	4,411	－		537	3,732	－
Profit attributable to		1,253	2,917	－		851	2,547	－
owners of parent

Abundant supply of vegetable due to fine weather caused vegetable market price remained low, and mushroom price had been weak also.

◆By Segment

(Millions of yen)

	Mushroom	Mushroom	Processed	Chemical products
	business outside
	business in Japan	products business	business
	Japan
	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.	3Q ended Dec.
	31, 2021	31, 2020	31, 2021	31, 2020	31, 2021	31, 2020	31, 2021	31, 2020
Net sales	33,904	37,876	4,577	3,491	5,896	6,383	8,160	7,687
Operating	1,823	5,145	591	320	379	565	152	△72
profit

※"Accounting Standards for Revenue Recognition" have been applied since the beginning of the first quarter of the current consolidated accounting, and the figures for the third quarter of the fiscal year ending March 2022 are the figures after applying the accounting standards. Therefore, the difference in increase / decrease in the same quarter of the previous year and the rate of increase / decrease in the same quarter of the previous year are not stated.

3

Consolidated Account at the 3rd quarter in FY March 2022 (cf. previous year)

				(Millions of yen)
	3Q ended	3Q ended	YoYchange	YoY
	Dec. 31, 2020	Dec. 31, 2021

Net sales	55,439	52,539	－	－
Gross profit	16,403	12,910	－	－
Gross profit margin	29.6%	24.6%
Selling, general and	11,991	11,470	－	－
administrative expenses
Operating profit	4,411	1,440	△2,971	32.6%
Operating profit margin	8.0%	2.7%
Ordinary profit	4,370	1,965	△2,405	45.0%
Ordinary profit margin	7.9%	3.7%
Profit attributable to	2,917	1,253	△1,664	42.9%
owners of parent
Net profit margin	5.3%	2.4%
Earnings per share	93.16	39.77

※"Accounting Standards for Revenue Recognition" have been applied since the beginning of the first quarter of the current consolidated accounting, and the figures for the third quarter of the fiscal year ending March 2022 are the figures after applying the accounting standards. Therefore, the difference in increase / decrease in the same quarter of the previous year and the rate of increase / decrease in the same quarter of the previous year are not stated.

4

Changes in mushroom production

（ｔ）

70,000

65,000

60,000

55,000

50,000

45,000

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

62,665 63,875 64,287

			1,508		1,477
1,344
		1,990		2,572	2,561
	10,462		10,345		10,870

		14,364
14,259		14,387

34,608	35,084	34,990

Previous fiscal year

Nex experience

Net plan

Bunashimeji(Bunapi including) Eryngii Maitake Shimofuri hiratake Fresh Donko

5