Access : Consolidated Financial Results for the Fiscal Year Ended April 30, 2022

Consolidated Financial Results

for the Three Months Ended April 30, 2022

[Japanese GAAP]

May 31, 2022

Company name: ACCESS CO., LTD.

Stock exchange listing: Tokyo Stock Exchange

Securities code: 4813

URL: https://www.access-company.com

Representative: Kiyoyasu Oishi, Representative Director, President & CEO

Contact: Mitsuhiro Okada, Executive Officer, CFO, VP of Corporate Administration Unit

Phone: [phone]

Scheduled date of filing quarterly securities report: June 7, 2022

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Not available

Schedule of quarterly financial results briefing session: Not scheduled

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Three Months Ended April 30, 2022 (February 1, 2022 to April 30, 2022)

(1) Consolidated Operating Results		(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit		Ordinary profit		Profit attributable to
					owners of parent
	Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	April 30, 2022	2,742	57.9	(695)	-	(635)	-	(662)	-
	April 30, 2021	1,737	30.4	(1,017)	-	(950)	-	(981)	-

(Note) Comprehensive income: Three months ended April 30, 2022: ¥(23) million [-%]

Three months ended April 30, 2021: ¥(383) million [-%]

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

April 30, 2022

(16.92)

-

April 30, 2021

(25.16)

-

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

As of April 30, 2022

27,795

25,423

91.3

As of January 31, 2022

27,962

25,393

90.6

(Reference) Equity: As of April 30, 2022: ¥25,370 million

As of January 31, 2022: ¥25,339 million

2. Dividends

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended January 31, 2022

-

0.00

-

0.00

0.00

Fiscal year ending January 31, 2023

-

Fiscal year ending January 31, 2023

0.00

-

0.00

0.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently: No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2023 (February 1, 2022 to January 31, 2023)

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit	Ordinary profit		Profit attributable	Basic earnings
			to owners of parent	per share
2nd quarter	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
4,740	20.3	(1,610)	-	(1,635)	-	(1,670)	-	(42.64)
(cumulative)
Full year	11,800	19.8	(1,500)	-	(1,550)	-	(1,750)	-	(44.68)

(Note) Revision to the financial results forecast announced most recently: No

* Notes:

1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No

Newly added: - (Name) -

Excluded: - (Name) -

1. Accounting policies adopted specifically for the preparation of quarterly consolidated financial statements: No
2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
3. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No
4. Total number of issued shares (common stock)
5. 1. Total number of issued shares at the end of the period (including treasury shares):

April 30, 2022: 39,633,000 shares

January 31, 2022: 39,633,000 shares

1. Total number of treasury shares at the end of the period: April 30, 2022: 406,621 shares
   January 31, 2022: 466,421 shares
2. Average number of shares during the period:

Three months ended April 30, 2022: 39,191,439 shares

Three months ended April 30, 2021: 38,990,241 shares

• • The number of treasury shares includes the number of the Company's shares held by the Employee Stock Ownership Plan (three months ended April 30, 2022: 405,300 shares, fiscal year ended January 31, 2022: 465,100 shares).
• These quarterly financial results are outside the scope of quarterly review by certified public accountants or audit firms
• Explanation of the proper use of financial results forecast and other notes

Financial results forecasts stated herein are determined based on information available to the Company and the Group as of the disclosure date of this document and contain various inherent risks and uncertainties. Please be advised that actual results may differ significantly from the financial results forecasts stated herein due to various factors including the economic conditions surrounding the Company and the Group's business, market trends, and exchange rates.

2. Quarterly Consolidated Financial Statements and Primary Notes

(1) Quarterly Consolidated Balance Sheets

					(Thousand yen)
		As of January 31, 2022	As of April 30, 2022
Assets
Current assets
Cash and deposits			15,148,137		14,759,399
Notes and accounts receivable - trade, and contract		-	3,032,804
assets
Notes and accounts receivable - trade			2,920,779		-
Securities	95,999	100,144
Merchandise and finished goods			61,618		70,818
Work in process	215,544	148,727
Other			633,265		712,859
Allowance for doubtful accounts	(90,641)	(94,931)
Total current assets			18,984,703		18,729,821
Non-current assets
Property, plant and equipment
Buildings and structures	347,440	355,080
Accumulated depreciation			(196,797)		(207,969)
Buildings and structures, net	150,643	147,110
Tools, furniture and fixtures			1,093,923		1,090,556
Accumulated depreciation	(827,470)	(808,618)
Tools, furniture and fixtures, net			266,453		281,937
Leased assets	3,602	3,602
Accumulated depreciation			(2,041)		(2,221)
Leased assets, net	1,560	1,380
Right of use assets			90,784		32,149
Accumulated depreciation	(53,051)	(14,369)
Right of use assets, net			37,733		17,779
Total property, plant and equipment	456,391	448,209
Intangible assets
Software	5,110,043	5,112,597
Goodwill			605,715		611,972
Other	260,221	254,354
Total intangible assets			5,975,980		5,978,924
Investments and other assets
Investment securities			854,959		920,318
Deferred tax assets	339,375	318,976
Other			1,367,269		1,415,266
Allowance for doubtful accounts	(16,509)	(16,509)
Total investments and other assets			2,545,095		2,638,052
Total non-current assets	8,977,466	9,065,186
Total assets			27,962,170		27,795,007

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				(Thousand yen)
		As of January 31, 2022	As of April 30, 2022
Liabilities
Current liabilities
Accounts payable - trade		215,348		182,051
Income taxes payable	223,988	24,415
Provision for bonuses		180,270		141,763
Provision for share awards	37,764	347
Provision for loss on litigation		4,335		4,540
Other	1,427,667	1,509,946
Total current liabilities		2,089,374		1,863,065
Non-current liabilities
Deferred tax liabilities		4,238		11,008
Retirement benefit liability	172,833	208,034
Asset retirement obligations		95,264		96,866
Long-term accounts payable - other	30,031	12,675
Other		176,522		179,455
Total non-current liabilities	478,891	508,040
Total liabilities		2,568,266		2,371,105
Net assets
Shareholders' equity
Share capital	29,538,781	29,538,781
Capital surplus		153,860		153,860
Retained earnings	(2,184,137)	(2,828,644)
Treasury shares		(278,180)		(243,562)
Total shareholders' equity	27,230,324	26,620,435
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	36,706	60,341
Foreign currency translation adjustment		(1,927,212)		(1,310,164)
Total accumulated other comprehensive income	(1,890,505)	(1,249,823)
Share acquisition rights		39,312		39,312
Non-controlling interests	14,771	13,977
Total net assets		25,393,904		25,423,902
Total liabilities and net assets		27,962,170	27,795,007

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1. Quarterly Consolidated Statements of Income and Comprehensive Income
   Quarterly Consolidated Statements of Income Three Months Ended April 30

				(Thousand yen)
		For the three months	For the three months
		ended April 30, 2021	ended April 30, 2022
Net sales		1,737,065		2,742,703
Cost of sales	1,698,974	2,289,374
Gross profit		38,091		453,328
Selling, general and administrative expenses	1,055,525	1,148,708
Operating loss		(1,017,433)		(695,379)

Non-operating income

Interest income

Gain on investments in investment partnerships Share of profit of entities accounted for using equity

method

1,858	1,866
42,669	25,895
7,099	5,767

Foreign exchange gains	15,598	23,600
Other			404	3,090
Total non-operating income	67,630	60,221
Non-operating expenses
Interest expenses	372	48
Other			206	24
Total non-operating expenses	579	73
Ordinary loss			(950,382)	(635,231)
Extraordinary income
Gain on sale of non-current assets			83	-
Gain on sale of investment securities	45	-
Total extraordinary income			128	-
Extraordinary losses
Loss on retirement of non-current assets			6,003	196
Total extraordinary losses	6,003	196
Loss before income taxes			(956,256)	(635,428)
Income taxes - current	28,843	32,049
Income taxes - deferred			(6,664)	(2,805)
Total income taxes	22,179	29,244
Loss			(978,436)	(664,672)
Profit (loss) attributable to non-controlling interests	2,736	(1,721)
Loss attributable to owners of parent			(981,172)	(662,951)

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