Access : Consolidated Financial Results for the Three Months Ended April 30,2023

Consolidated Financial Results

for the Three Months Ended April 30, 2023

[Japanese GAAP]

May 29, 2023

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 5, 2023

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, 2023 (February 1, 2023 to April 30, 2023)

(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, 2023	3,916	42.8	356	-	376	-	360	-
	April 30, 2022	2,742	57.9	(695)	-	(635)	-	(662)	-

(Note) Comprehensive income: Three months ended April 30, 2023: ¥421 million [-%] Three months ended April 30, 2022: ¥(23) million [-%]

	Basic earnings	Diluted earnings
	per share	per share
Three months ended	Yen	Yen
April 30, 2023	9.64	9.63
April 30, 2022	(16.92)	-

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

As of April 30, 2023

25,868

22,483

86.7

As of January 31, 2023

25,240

22,062

87.2

(Reference) Equity: As of April 30, 2023: ¥22,440 million

As of January 31, 2023: ¥22,018 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, 2023

-

0.00

-

0.00

0.00

Fiscal year ending January 31, 2024

-

Fiscal year ending January 31, 2024

0.00

-

0.00

0.00

(Forecast)

1

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

3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2024 (February 1, 2023 to January 31, 2024)

(% 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
6,180	20.3	(1,290)	-	(1,315)	-	(1,349)	-	(36.05)
(cumulative)
Full year	15,500	18.7	500	-	450	-	270	-	7.22

(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, 2023: 39,633,000 shares

January 31, 2023: 39,633,000 shares

1. Total number of treasury shares at the end of the period: April 30, 2023: 2,212,255 shares
   January 31, 2023: 2,212,255 shares
2. Average number of shares during the period:

Three months ended April 30, 2023: 37,420,745 shares

Three months ended April 30, 2022: 39,191,439 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, 2023: 404,800 shares, fiscal year ended January 31, 2023: 404,800 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

2. Quarterly Consolidated Financial Statements and Primary Notes

(1) Quarterly Consolidated Balance Sheets

				(Thousand yen)
		As of January 31, 2023	As of April 30, 2023
Assets
Current assets
Cash and deposits		11,876,088		12,510,878
Notes and accounts receivable - trade, and contract	5,074,126	4,817,303
assets
Merchandise and finished goods		196,807		178,958
Work in process	67,223	100,116
Other		614,620		694,379
Allowance for doubtful accounts	(72,396)	(74,512)
Total current assets		17,756,469		18,227,124
Non-current assets
Property, plant and equipment
Buildings and structures	365,693	366,619
Accumulated depreciation		(232,234)		(237,898)
Buildings and structures, net	133,459	128,721
Tools, furniture and fixtures		1,339,421		1,437,991
Accumulated depreciation	(967,344)	(1,027,107)
Tools, furniture and fixtures, net		372,077		410,883
Leased assets	3,602	3,602
Accumulated depreciation		(2,761)		(2,941)
Leased assets, net	840	660
Right of use assets		583,212		592,344
Accumulated depreciation	(282,508)	(310,326)
Right of use assets, net		300,704		282,017
Total property, plant and equipment	807,082	822,282
Intangible assets
Software	4,705,718	4,895,327
Goodwill		497,430		463,796
Other	192,974	174,722
Total intangible assets		5,396,123		5,533,846
Investments and other assets
Investment securities		634,371		647,199
Deferred tax assets	344,938	343,207
Other		326,844		315,536
Allowance for doubtful accounts	(25,528)	(20,416)
Total investments and other assets		1,280,626		1,285,526
Total non-current assets	7,483,832	7,641,655
Total assets		25,240,301		25,868,779

3

				(Thousand yen)
		As of January 31, 2023	As of April 30, 2023
Liabilities
Current liabilities
Accounts payable - trade		270,460		278,926
Income taxes payable	26,851	29,232
Provision for bonuses		177,961		171,006
Provision for loss on orders received	13,020	13,110
Provision for share awards		115		21,090
Provision for loss on litigation	4,699	4,840
Other		1,919,107		2,123,520
Total current liabilities	2,412,216	2,641,727
Non-current liabilities
Deferred tax liabilities	6,265	6,326
Retirement benefit liability		208,811		217,817
Provision for share awards	8,972	8,972
Asset retirement obligations		98,397		98,575
Other	442,837	411,507
Total non-current liabilities		765,284		743,200
Total liabilities	3,177,500	3,384,927
Net assets
Shareholders' equity
Share capital		17,000,000		17,000,000
Capital surplus	12,132,404	12,132,404
Retained earnings		(4,289,577)		(3,928,793)
Treasury shares	(1,533,797)	(1,533,797)
Total shareholders' equity		23,309,030		23,669,813
Accumulated other comprehensive income
Valuation difference on available-for-sale securities		59,470		63,908
Foreign currency translation adjustment	(1,350,344)	(1,292,879)
Total accumulated other comprehensive income		(1,290,874)		(1,228,970)
Share acquisition rights	39,312	39,312
Non-controlling interests		5,332		3,696
Total net assets	22,062,800	22,483,852
Total liabilities and net assets		25,240,301		25,868,779

4

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, 2022	ended April 30, 2023
Net sales		2,742,703		3,916,837
Cost of sales	2,289,374	2,029,737
Gross profit		453,328		1,887,099
Selling, general and administrative expenses	1,148,708	1,530,905
Operating profit (loss)		(695,379)		356,194

Non-operating income

Interest income

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

method

1,866	3,936
25,895	-
5,767	7,488

Foreign exchange gains	23,600	9,092
Consumption taxes refund		-	100
Other	3,090	1,516
Total non-operating income		60,221	22,135
Non-operating expenses
Interest expenses		48	836
Loss on investments in investment partnerships	-	1,381
Other		24	43
Total non-operating expenses	73	2,261
Ordinary profit (loss)		(635,231)	376,068
Extraordinary losses
Loss on retirement of non-current assets			196	-
Total extraordinary losses	196	-
Profit (loss) before income taxes			(635,428)	376,068
Income taxes - current		32,049	17,167
Income taxes - deferred			(2,805)	(148)
Total income taxes	29,244	17,019
Profit (loss)			(664,672)	359,048
Loss attributable to non-controlling interests	(1,721)	(1,734)
Profit (loss) attributable to owners of parent			(662,951)	360,783

5