ARUHI : Consolidated Financial Results for the Fiscal Year Ended March 31, 2021(under IFRS)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

(under IFRS)

	May 11, 2021
Company name:	ARUHI Corporation (the "Company")
Listing:	Tokyo Stock Exchange
Securities code:	7198
URL:	https://www.aruhi-group.co.jp
Representative:	Hiroshi Hamada, Chairman of the Board, President, Representative Director, CEO and COO
Inquiries:	Yasuko Matsumoto, Executive Corporate Officer, CFO
TEL:	[phone]

Scheduled date of annual general meeting of shareholders:	June 24, 2021
Scheduled date to commence dividend payments:	June 25, 2021
Scheduled date to file annual securities report:	June 24, 2021
Preparation of supplementary material on financial results:	Yes
Holding of financial results presentation meeting:	Yes (for analysts)

(Millions of yen with fractional amounts rounded down, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Consolidated operating results										(Percentages indicate year-on-year changes.)
				Operating revenue	Income before tax		Net income			Net income attributable
							to owners of the parent
	Fiscal year ended	Millions of yen		%	Millions of yen		%	Millions of yen		%			Millions of yen	%
	March 31, 2021	26,821			2.4			7,745		5.9			5,177		4.1					5,177	4.1
	March 31, 2020	26,202			9.9			7,315		16.8			4,972		15.3					4,972	15.3
				Total comprehensive	Basic earnings per share	Diluted earnings per
				income				share
	Fiscal year ended	Millions of yen		%					Yen				Yen
	March 31, 2021	5,177			4.1					146.58				145.11
	March 31, 2020	4,972			15.3					141.45				138.65
(2) Consolidated financial position
																Ratio of equity				Equity attributable to
											Equity attributable to	attributable to owners
				Total assets			Total equity		owners of the parent
						owners of the parent	of the parent to total
												per share
																assets
	As of			Millions of yen		Millions of yen			Millions of yen					%		Yen
	March 31, 2021			164,762					30,093			30,093		18.3			847.67
	March 31, 2020			132,585					26,634			26,634		20.1			756.79
(3) Consolidated cash flows
				Net cash provided by		Net cash provided by		Net cash provided by		Cash and cash equivalents
				(used in)			(used in)					(used in)
																at end of period
				operating activities		investing activities		financing activities
	Fiscal year ended		Millions of yen				Millions of yen			Millions of yen					Millions of yen
	March 31, 2021		4,750					(777)			18,620					37,404
	March 31, 2020		7,407			(2,018)			(4,057)					14,811

2. Cash dividends

		Annual dividends per share				Ratio of dividends
								to equity
	First	Second	Third	Fiscal		Total amount of	Payout ratio	attributable to
	quarter-	quarter-	quarter-	Total	dividends (total)	(consolidated)	owners of the
	year-end
	end	end	end				parent
								(consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year
ended	-	25.00	-	26.00	51.00	1,794	36.1	7.1
March 31,
2020
Fiscal year
ended	-	25.00	-	30.00	55.00	1,949	37.5	6.9
March 31,
2021
Fiscal year
ending
March 31,	-	30.00	-	30.00	60.00		37.2
2022
(Forecast)

Note: The fiscal year-end dividend per share for the fiscal year ended March 31, 2021 was changed from ¥26.00 to ¥30.00. For details, refer to "Notice of Payment of Dividends (Dividend Increase)" released today (May 11, 2021).

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

							(Percentages indicate year-on-year changes.)
								Net income		Basic earnings per
	Operating revenue	Income before tax	Net income		attributable to
		share
								owners of the parent
	Millions	%	Millions	%	Millions		%	Millions		%	Yen
	of yen	of yen	of yen		of yen
Fiscal year ending	29,500	10.0	8,520	10.0	5,700		10.1	5,700		10.1	161.38
March 31, 2022

Notes: 1. As the Company manages its business performance on an annual basis, consolidated earnings forecasts for the second quarter (cumulative) are omitted. For details, please see "(4) Future outlook" in "1. Overview of operating results, etc." in the attached materials on page 2.

2. The forecast of the basic earnings per share is calculated based on the weighted-average number of shares during the fiscal year ended March 31, 2021.

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies and changes in accounting estimates
3. 1. Changes in accounting policies required by IFRS: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None

Note: For details, please see "(5) Notes to consolidated financial statements" in "3. Consolidated financial statements and significant notes thereto" in the attached materials on page 9.

(3) Number of issued shares (ordinary shares)

a. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2021	36,080,600 shares
As of March 31, 2020	36,080,600 shares

b. Number of treasury shares at the end of the period

As of March 31, 2021	578,760 shares
As of March 31, 2020	886,891 shares

c. Weighted-average number of shares during the period

For the fiscal year ended March 31, 2021	35,319,831 shares
For the fiscal year ended March 31, 2020	35,151,421 shares

(Reference) Summary of Non-consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Non-consolidated operating results			(Percentages indicate year-on-year changes.)
		Operating revenue	Operating income	Ordinary income	Net income
	Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen		%
	March 31, 2021	26,501	2.7	6,855	5.3	6,813	6.6	4,309		9.3
	March 31, 2020	25,794	14.4	6,512	17.1	6,388	20.7	3,944		21.2
		Basic earnings per share	Diluted earnings per
		share
	Fiscal year ended		Yen		Yen
	March 31, 2021		122.02		120.80
	March 31, 2020		112.20		109.98

(2) Non-consolidated financial position

		Total assets	Net assets		Equity ratio	Net assets per share
	As of	Millions of yen		Millions of yen		%	Yen
	March 31, 2021	121,637		21,492		17.4	594.72
	March 31, 2020	92,547		18,830		20.0	525.62
(Reference) Equity capital:	As of March 31, 2021	¥21,113 million
		As of March 31, 2020	¥18,498 million

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These

statements do not purport that the Company pledges to realize such statements. Actual business and other results may differ substantially from these forecasts due to various factors.

For details on the earnings forecasts, please see "(4) Future outlook" in "1. Overview of operating results, etc." in the attached materials on page 2.

Table of Contents of Appendix
1. Overview of operating results, etc........................................................................................................................	1
(1)	Overview of operating results for the current fiscal year ...............................................................................	1
(2)	Overview of financial position for the current fiscal year..............................................................................	1
(3)	Overview of cash flows for the current fiscal year ........................................................................................	2
(4)	Future outlook ................................................................................................................................................	2
(5)	Basic policy on profit distribution and dividends for the current fiscal year and the next fiscal year ...........	2
2. Basic concept regarding selection of accounting standard...................................................................................	3
3. Consolidated financial statements and significant notes thereto ..........................................................................	4
(1)	Consolidated statement of financial position .................................................................................................	4
(2)	Consolidated statement of net income and consolidated statement of comprehensive income .....................	5
(3)	Consolidated statement of changes in equity .................................................................................................	7
(4)	Condensed statement of cash flows ...............................................................................................................	8
(5)	Notes to consolidated financial statements ....................................................................................................	9
	(Note on assumption of going concern) ........................................................................................................	9
	(Changes in accounting policies) ..................................................................................................................	9
	(Changes in accounting estimates) ................................................................................................................	9
	(Segment information, etc.).........................................................................................................................	10
	(Per share information) ................................................................................................................................	11
	(Significant events after reporting period) ...................................................................................................	11