Summary of Consolidated Financial Results for the Nine Months Ended February 20, 2021

[Japanese GAAP]*

March 16, 2021

Company name: ASKUL Corporation

Stock exchange listing: Tokyo

Code number: 2678

URL:https://www.askul.co.jp/kaisya/ir/

Representative: Akira Yoshioka, President and chief executive officer Contact: Tsuguhiro Tamai, Director and chief financial officer Phone: 03-4330-5130

Scheduled date of filing quarterly securities report: March 26, 2021

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: Yes (for institutional investors and analysts)

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

1. Consolidated Financial Results for the Nine Months Ended February 20, 2021 (May 21, 2020 to February 20, 2021)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Nine months ended

February 20, 2021 February 20, 2020

Million yen 313,003 299,439

% 4.5 3.8

Million yen 10,286 6,335

% 62.3 160.5

Million yen 10,236 6,248

% 63.8 169.0

Million yen 6,150 4,116

% 49.4 268.9

(Note) Comprehensive income:

Nine months ended February 20, 2021:

¥6,135 million

[48.9%]

Nine months ended February 20, 2020:

¥4,119 million

[251.7%]

Basic earnings per share

Diluted earnings per share

Nine months ended

February 20, 2021 February 20, 2020

Yen 120.31 80.68

Yen 120.06 80.34

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

As of

February 20, 2021 May 20, 2020

Million yen 195,713 174,146

Million yen 57,612 52,825

% 29.2 30.1

(Reference) Equity: As of February 20, 2021: ¥57,197 million

As of May 20, 2020: ¥52,434 million

(Note) A provisional accounting treatment concerning a business combination was finalized in the second quarter of the fiscal year under review, and the figures as of May 20, 2020 have been based on the finalized provisional accounting treatment.

2. Dividends

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Fiscal year ended May 20, 2020

Fiscal year ending May 20, 2021

Yen - -

Yen 19.00 19.00

Yen - -

Yen 19.00

Yen 38.00

Fiscal year ending May 20, 2021 (Forecast)

25.00

44.00

(Note) Revision to the forecast for dividends announced most recently:

Yes

3. Consolidated Financial Results Forecast for the Fiscal Year Ending May 20, 2021(May 21, 2020 to May 20, 2021)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Basic earnings per share

Full year

Million yen 416,000

% 3.9

Million yen 13,000

% 47.4

Million yen 12,900

% 49.0

Million yen 7,000

% 23.8

Yen 136.92

(Note) Revision to the financial results forecast announced most recently: Yes

* Notes:

  • (1) Changes in significant subsidiaries during the nine months ended February 20, 2021 (changes in specified subsidiaries resulting in changes in scope of consolidation): No

  • (2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:No

  • (3) Changes in accounting policies, changes in accounting estimates and retrospective restatement

    • 1) Changes in accounting policies due to the revision of accounting standards: No

    • 2) Changes in accounting policies other than 1) above: No

    • 3) Changes in accounting estimates: Yes

    • 4) Retrospective restatement: No

  • (4) Total number of issued shares (common shares)

    1) Total number of issued shares at the end of the period (including treasury shares):

February 20, 2021:

May 20, 2020:

55,259,400 shares 55,259,400 shares

2) Total number of treasury shares at the end of the period:February 20, 2021:

May 20, 2020:

4,020,937 shares 4,221,622 shares

3) Average number of shares during the period:

Nine months ended February 20, 2021:

51,123,487 shares

Nine months ended February 20, 2020:

51,026,883 shares

2

* This Summary of Consolidated Financial Results is not subject to quarterly review by certified public accountants or auditing firms.

* Notes for using forecasted information and others

Earnings forecasts and other forward-looking statements contained in this document are based on the information ASKUL has obtained to date and on certain assumptions it considers reasonable. As such, these forecasts and statements are not intended as a commitment by the Company to achieve them. Note also that actual results and other future events may differ materially from these forecasts and statements due to a variety of factors.

For the assumptions on which earnings forecasts are based and notes and information on the use of earnings forecasts, see "1. Qualitative Information on Financial Results (3) Explanation of Consolidated Forecasts and Other Forward-Looking Information" on Page 7 of Attached Materials.

Table of Contents for Attached Materials

1. Qualitative Information on Financial Results....................................................................................................................5

(1) Explanation of Operating Results...............................................................................................................................5

(2) Explanation of Financial Position...............................................................................................................................7

(3) Explanation of Consolidated Forecasts and Other Forward-Looking Information......................................................7

2. Quarterly Consolidated Financial Statements..................................................................................................................8

(1) Quarterly Consolidated Balance Sheets....................................................................................................................8

(2) Quarterly Consolidated Statements of Income and Comprehensive Income...........................................................10

(3) Notes to Quarterly Consolidated Financial Statements............................................................................................12

(Notes to Going Concern Assumption).........................................................................................................................12

(Notes to Significant Changes in Shareholders' Equity)...............................................................................................12

(Changes in Accounting Estimates).............................................................................................................................12

(Supplementary Information)........................................................................................................................................12

(Segment Information, etc.)..........................................................................................................................................13

(Significant Subsequent Events)..................................................................................................................................14

3. Other........................................................................................................................................................................16

Details of Selling, General and Administrative Expenses (Consolidated).....................................................................16

1. Qualitative Information on Financial Results

(1) Explanation of Operating Results

During the period under review (May 21, 2020 to February 20, 2021), Japan's economy saw consumer spending and corporate activity stagnate as the novel coronavirus spreads. Amid a state of emergency declared again in 11 prefectures in January 2021, the economic outlook remains uncertain.

With the spread of the novel coronavirus decreasing demand in a great number of industries, the e-commerce market, in which the Group operates, is expected to play the role of a shopping activity that reduces contact among people who are leading a new lifestyle, and demand there is on an upward trend. On the other hand, as delivery charges remain high primarily due to shortages of delivery drivers, and competition in the industry for better service quality is underway, the business environment continues to allow for little optimism.

Under the circumstances, the B-to-B business in the mainstay E-commerce business, taking the expansion of the e-commerce market as an opportunity, is pushing forward with further business growth under the mission of "Provide Reliable Services to All Workplaces as a Lifeline for People Working There." The B-to-C business is tackling structural reform to ensure that LOHACO realizes positive operating profit in the fiscal year ending May 2023.

During the period under review, the growth rate of net sales of the B-to-B business, which had fallen after the declaration of a state of emergency in April 2020, remained firm after the declaration of a state of emergency was lifted in May 2020. Due to continued special demand for hand sanitizers, face masks, and other infection-prevention products against the novel coronavirus, both net sales and profit of the B-to-B business rose drastically, and simultaneously, the B-to-C business LOHACO improved its profitability as planned.

As a consequence, net sales in the period under review broke the 300,000 million yen mark for the first time in the same period to 313,003 million yen, a 4.5% increase year on year. Operating profit was 10,286 million yen, a 62.3% increase year on year, and ordinary profit was 10,236 million yen, a 63.8% increase year on year. Loss on disaster for the damage by the earthquake of 248 million yen, which occurred off the coast of Fukushima Prefecture on February 13, 2021, was recorded as extraordinary loss (Mainly, loss on disposal of inventories accompanying damage to merchandise at the Sendai DMC). Profit attributable to owners of parent came to 6,150 million yen, a 49.4% increase year on year. Each of the profit totals reached a record high for the same period.

Operating results by segment are outlined below.

In the B-to-B business, the mainstay business of the Group, net sales declined due to the effect of voluntary restraint on business activities by customers following the declaration of a state of emergency in April 2020. However, after the declaration of a state of emergency was lifted in May 2020, the growth rate of net sales remained steady, mainly due to an increase in demand for infection-prevention products, such as disposable gloves and partitions, in addition to hand sanitizers and masks, which become necessary mainly for customers who were small and medium-sized corporations to resume and continue business activities during the pandemic. Demand for office supplies from customers who are mid-level and large corporations is on a recovery path. Additionally, sales of MRO supplies (Note 1), such as packaging materials, and long tail products also increased due to growing demand in E-commerce. The number of long tail products topped 8.3 million items as a result of the Group's focus on strengthening their product lineup. Consequently, the B-to-B business posted a sales increase in the period under review.

In addition to the effect of SEO (Note 2), which the Group has been strengthening, the Group saw orders increase from new customers, such as medical institutions and nursing care facilities, with which transactions started as a result of the Group's ongoing priority deliveries of hand sanitizers to them at the request of the Ministry of Economy, Trade and Industry and the Ministry of Health, Labour and Welfare. As the operational rates of both new and existing customers are also rising, the Group is working to broaden product lineups and improve delivery quality to ensure that all customers continue to use the Group's services.

As a result, net sales in the B-to-B business grew by 9,354 million yen from a year earlier to 256,319 million yen, a 3.8% increase year on year.

In the B-to-C business, net sales are growing steadily thanks to sales promotions, such as "Cyber Sunday" and "Super PayPay Festival." Regarding profit improvement, as people continue to impose self-restraint on their daily activities during the pandemic, ongoing measures, such as proposing high added-value products to customers and optimizing sales prices, are improving product gross margins, resulting in contributing to improving the gross profit margin. Revenue from advertising, which fell sharply in the first quarter of the fiscal year under review, has also recovered to its previous level since the second quarter of the fiscal year under review. As for new products, in the "LOHACO Fitting into Your Life Exhibition.com," which was held online from November 2020, original value products were announced that had been planned and developed together with 23 major daily goods makers, and 30 of those products were put on sale. This year's "LOHACO Exhibition" took up the theme of "Solving Problems in Your Daily Life," which focused on new lifestyles during the pandemic in addition to "Design" and "Sustainable." Thankfully, the number of visits to the site greatly exceeded that of the previous year. The Group will continue to strengthen joint creation with makers.

As a result, LOHACO sales increased 3,461 million yen from a year earlier to 38,834 million yen, a 9.8% increase year on year. Consequently, net sales of the B-to-C business in total also grew by 4,324 million yen from a year earlier to 50,889 million yen, a 9.3% increase year on year.

Accordingly, net sales of the E-commerce business, combining the two businesses above, stood at 307,208 million yen, an increase of 4.7% year on year. Gross profit-net was 77,497 million yen, a 10.3% increase year on year, due to an expansion of sales of products with higher profitability, such as infection prevention products, and continuous activities to reduce costs. Another reason is that gross profit margin of LOHACO has also improved.

Operating profit was 11,222 million yen, a 74.9% increase year on year, due to net sales increases of both businesses and a 0.2 point decrease of SG&A expense ratio to net sales from the previous fiscal year, resulting from strengthened coordination with Yahoo Japan Corporation in LOHACO, ending up keeping down sales promotion expenses and fixed costs, which made SG&A expense stand at 66,274 million yen, despite the recording of 920 million yen in provision for term-end performance-linked bonuses and others during the period under review.

The period under review posted an operating loss due to the effects of the burden of fixed costs in connection with the contracted business of logistics operations that commenced in November 2020 (including rent for a distribution center before the operation started).

As a result, net sales in the period under review were 5,264 million yen, a 0.9% decrease year on year, and operating loss was 974 million yen, as opposed to operating loss of 108 million yen a year earlier.

As a result of the partial transfer of shares of ecohai Co., Ltd., which was a consolidated subsidiary in the first quarter of the fiscal year under review, the company and its subsidiary, Eco Properties Corporation, were excluded from the scope of consolidation at the end of the first quarter of the fiscal year under review.

Tsumagoimeisui Corporation kept its sales on a level similar to a year earlier and increased profit due to higher sales of products with high profitability.

As a result, net sales for the period under review fell to 1,002 million yen, a 0.7% decrease year on year, and operating profit was 73 million yen, a 44.7% increase year on year.

(Note) 1. MRO is an acronym for Maintenance, Repair and Operations, and the term "MRO supplies" denotes indirect materials including consumables and repair supplies for use at factories, construction sites, and warehouses. 2. SEO is an acronym for Search Engine Optimization, which refers to measures that direct search engines to show the Group's website as a top result for searches of certain products.

  • (2) Explanation of Financial Position

    (Assets)

    Total assets stood at 195,713 million yen at the end of the period under review, an increase of 21,567 million yen from the end of the previous fiscal year. This was mainly due to increases of 9,997 million yen in cash and deposits and 8,591 million yen in notes and accounts receivable-trade. The main reason is that 8,640 million yen of electronically recorded obligations-operating, whose settlement date was at the final day of the period under review, was included in the balance of the accounts at the end of the period under review as the final day of the period under review was a holiday for financial institutions.

    (Liabilities)

    Total liabilities stood at 138,101 million yen at the end of the period under review, an increase of 16,780 million yen from the end of the previous fiscal year. This was primarily due to an increase of 8,730 million yen of electronically recorded obligations-operating, as explained above, and an increase of 7,719 million yen in notes and accounts payable-trade.

    (Net assets)

    Net assets stood at 57,612 million yen at the end of the period under review, an increase of 4,786 million yen from the end of the previous fiscal year. The primary factor behind the rise was an increase of 4,203 million yen in retained earnings mainly due to recognition of profit attributable to owners of parent of 6,150 million yen as opposed to dividend payments of 1,941 million yen.

    Consequently, the capital adequacy ratio was 29.2% (30.1% at the end of the previous fiscal year).

    In addition, regarding the business combination between ASKUL LOGIST Co., Ltd., a consolidated subsidiary of

    ASKUL Corporation, and Seisho Transport Corporation, which was carried out on May 1, 2020, a provisional accounting treatment had been applied in the previous fiscal year, but since it was finalized in the second quarter of the fiscal year under review, the amount after the review based on the finalized provisional accounting treatment is used in the comparison and analysis with the previous fiscal year.

  • (3) Explanation of Consolidated Forecasts and Other Forward-Looking Information

    The forecast for the year ending May 20, 2021 (full year) announced on December 15, 2020, has been revised. For more details, please see "Revision of Full-Year Earnings Forecast and Dividend Forecast" announced today.

2. Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheets

(Million yen)

As of May 20,2020

As of February 20,2021

Assets

Current assets

Cash and deposits

63,260

73,258

Notes and accounts receivable - trade

38,701

47,292

Merchandise and finished goods

16,582

16,918

Raw materials and supplies

257

196

Costs on construction contracts in progress

63

34

Accounts receivable - other

10,340

10,594

Other

1,277

1,312

Allowance for doubtful accounts

(24)

(37)

Total current assets

130,458

149,570

Non-current assets

Property, plant and equipment

Buildings and structures

8,329

8,591

Accumulated depreciation

(3,162)

(3,489)

Buildings and structures, net

5,166

5,101

Land

137

137

Leased assets

19,408

20,110

Accumulated depreciation

(6,405)

(7,378)

Leased assets, net

13,003

12,731

Other

10,065

10,355

Accumulated depreciation

(6,961)

(7,295)

Other, net

3,104

3,060

Construction in progress

461

3,356

Total property, plant and equipment

21,873

24,386

Intangible assets

Software

7,285

7,109

Software in progress

1,116

2,148

Goodwill

2,103

1,674

Other

101

91

Total intangible assets

10,606

11,024

Investments and other assets

Investment securities

808

433

Deferred tax assets

3,873

3,706

Other

6,647

7,678

Allowance for doubtful accounts

(121)

(1,086)

Total investments and other assets

11,208

10,732

Total non-current assets

43,688

46,143

Total assets

174,146

195,713

(Million yen)

As of May 20,2020

As of February 20,2021

Liabilities

Current liabilities

Notes and accounts payable - trade

45,549

53,268

Electronically recorded obligations - operating

21,733

30,463

Short-term borrowings

430

380

Current portion of long-term borrowings

1,767

2,489

Accounts payable - other

10,281

10,955

Income taxes payable

1,972

1,720

Accrued consumption taxes

1,140

1,053

Provisions

780

1,482

Other

3,718

3,618

Total current liabilities

87,374

105,431

Non-current liabilities

Long-term borrowings

13,679

12,330

Lease obligations

11,879

11,608

Retirement benefit liability

3,716

4,010

Asset retirement obligations

2,438

2,689

Other

2,232

2,031

Total non-current liabilities

33,947

32,670

Total liabilities

121,321

138,101

Net assets

Shareholders' equity

Share capital

21,189

21,189

Capital surplus

24,220

23,939

Retained earnings

23,769

27,972

Treasury shares

(16,718)

(15,889)

Total shareholders' equity

52,461

57,212

Accumulated other comprehensive income

Remeasurements of defined benefit plans

(26)

(15)

Total accumulated other comprehensive income

(26)

(15)

Share acquisition rights

7

(0)

Non-controlling interests

382

415

Total net assets

52,825

57,612

Total liabilities and net assets

174,146

195,713

(2) Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the nine months)

(Million yen)For the nine months ended February 20,2020

For the nine months ended February 20,2021

Net sales

299,439

313,003

Cost of sales

228,436

235,432

Gross profit

71,002

77,570

Reversal of provision for sales returns

26

26

Provision for sales returns

26

31

Gross profit - net

71,002

77,565

Selling, general and administrative expenses

64,666

67,279

Operating profit

6,335

10,286

Non-operating income

Interest income

20

30

Subsidy income

25

67

Rental income

213

141

Other

109

38

Total non-operating income

368

278

Non-operating expenses

Interest expenses

189

174

Rental expenses

217

132

Other

48

20

Total non-operating expenses

455

327

Ordinary profit

6,248

10,236

Extraordinary income

Gain on sales of non-current assets

Extraordinary losses

- - - - 10 115 29 - -

Gain on reversal of share acquisition rights

-

1

Total extraordinary income

1 3

Loss on sales of shares of subsidiaries Loss on valuation of investment securities Impairment loss

24

48 -

Loss on retirement of non-current assets

Loss on retirement of treasury subscription rights to shares

7 -

Provision of allowance for doubtful accounts Loss on disaster

1,000

248

Other

-

7

Total extraordinary losses

155

1,336

Profit before income taxes

6,093

8,903

Income taxes - current

1,785

2,652

Income taxes - deferred

205

126

Total income taxes

1,991

2,779

Profit

4,101

6,124

Loss attributable to non-controlling interests

(14)

(26)

Profit attributable to owners of parent

4,116

6,150

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)

Profit

4,101

6,124

Other comprehensive income

Deferred gains or losses on hedges

0

-

Foreign currency translation adjustment

(1)

-

Remeasurements of defined benefit plans, net of tax

17

10

Total other comprehensive income

17

10

Comprehensive income

4,119

6,135

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

4,134

6,161

Comprehensive income attributable to non- controlling interests

(14)

(26)

(Million yen)

For the nine months

For the nine months

ended February 20,2020

ended February 20,2021

11

(3) Notes to Quarterly Consolidated Financial Statements

(Notes to Going Concern Assumption)

Not applicable.

(Notes to Significant Changes in Shareholders' Equity)

Not applicable.

(Changes in Accounting Estimates)

(Change in the useful life)

The useful life of software that will be used for a shorter period than the initial period was shortened into the future since it was decided in the second quarter of the fiscal year under review to shift to a new site in the B-to-B business and terminate part of services in the B-to-C business.

This change caused a decrease of 107 million yen each in operating profit, ordinary profit, and profit before income taxes in the period under review, compared to the former method.

(Supplementary Information)

(Accounting estimates regarding the impact of the spread of the novel coronavirus)

There are no material changes to the assumptions of (Accounting estimates regarding the impact of the spread of the novel coronavirus) in (Supplementary Information) stated in the securities report for the previous fiscal year.

(Segment Information, etc.)

[Segment Information]

I. First Nine Months of the Previous Fiscal Year (From May 21, 2019 to February 20, 2020)

1. Information on net sales and profit (loss) by reporting segment

(Unit: Million yen)

Reporting Segment

Other (Note 1)

Total

Adjustments

(Note 2)

Amount recorded in quarterly consolidated statements of income (Note 3)

E-commerce business

Logistics business

Total

Net sales

Sales to external customers Intra-segment sales or transfers

293,529

-

5,313

-

298,843

-

595 413

299,439

413

-

(413)

299,439

-

Total

293,529

5,313

298,843

1,009

299,852

(413)

299,439

Segment profit (loss)

6,415

(108)

6,307

50

6,357

(21)

6,335

consolidated

(Note) 1. "Other" represents business segments that do not fall under the Reporting Segment and includes the manufacturing business.

  • 2. The adjustment of minus 21 million yen to segment profit (loss) represents an elimination in inter-segment transactions.

  • 3. Segment profit (loss) is adjusted with operating profit reported on the quarterly consolidated statements of income.

II. First Nine Months of the Fiscal Year Under Review (From May 21, 2020 to February 20, 2021)

1. Information on net sales and profit (loss) by reporting segment

(Unit: Million yen)

Reporting Segment

Other (Note 1)

Total

Adjustments

(Note 2)

Amount recorded in quarterly consolidated statements of income (Note 3)

E-commerce business

Logistics business

Total

Net sales

Sales to external customers Intra-segment sales or transfers

307,208

5,264

312,473

529 472

313,003

472

(472)

313,003

Total

307,208

5,264

312,473

1,002

313,476

(472)

313,003

Segment profit (loss)

11,222

(974)

10,248

73

10,321

(35)

10,286

consolidated

(Note) 1. "Other" represents business segments that do not fall under the Reporting Segment and includes the manufacturing business.

  • 2. The adjustment of minus 35 million yen to segment profit (loss) represents an elimination in inter-segment transactions.

  • 3. Segment profit (loss) is adjusted with operating profit reported on the quarterly consolidated statements of income.

(Significant Subsequent Events)

(Retirement of Treasury Stock)

The Company resolved, at the meeting of the Board of Directors held on March 16, 2021, to retire its treasury stock pursuant to the provisions of Article 178 of the Companies Act.

Details of retirement of treasury stock

  • (1) Class of shares to be retired: Common shares of the Company

  • (2) Total number of shares to be retired: 4,000,000 shares (7.24% of total number of issued shares before retirement)

  • (3) Scheduled date of retirement: March 31, 2021

  • (4) Total number of issued shares after retirement: 51,259,400 shares

(Stock Split)

The Company resolved, at the meeting of the Board of Directors held on March 16, 2021, to implement a stock split.

  • (1) Purpose of the stock split

    The purpose is to improve the liquidity of shares of the Company and expand the investor base by conducting a stock split and decreasing the amount per investment unit.

  • (2) Outline of the stock split i) Split method

    With May 20, 2021 as the record date, the shares of common stock held by the shareholders listed or recorded in the register of shareholders as of the end of that date will be divided at the rate of 2 shares per share.

    • ii) The number of shares to be increased by the split

      Total number of issued shares before the stock split: 51,259,400 shares Total number of shares to be increased by the stock split: 51,259,400 shares Total number of issued shares after the stock split: 102,518,800 shares

      Total number of shares authorized to be issued after the stock split: 169,440,000 shares

      (Note) The Company plans to retire 4,000,000 shares of its treasury stock on March 31, 2021.

      The number of shares stated above is the number of shares at the time of implementing the stock split after the retirement of treasury stock.

    • iii) Schedule for the stock split

      Public notice of record date: April 30, 2021

      Record date: May 20, 2021

      Effective date: May 21, 2021

  • (3) Effects on per-share information

Per share information assuming that the stock split was carried out at the beginning of the previous fiscal year is as follows.

First Nine Months of the

Previous Fiscal Year (From May 21, 2019 to

February 20, 2020)

First Nine Months of the Fiscal Year Under Review (From May 21, 2020 to

February 20, 2021)

Basic earnings per share

40.34 yen

60.16 Yen

Diluted earnings per share

40.17 yen

60.03 yen

(4) Other

  • i) Change to the amount of stated capital

    There will be no change to the amount of stated capital caused by the stock split.

  • ii) Adjustment of the exercise price of stock acquisition rights

In connection with the stock split, the exercise price per share of the stock acquisition rights issued by the Company will be adjusted as follows from May 21, 2021.

Date of resolution at Board of Directors meeting

Exercise price before adjustment

Exercise price after adjustment

Share acquisition rights

October 19, 2015

4,460 yen

2,230 yen

Share acquisition rights

December 6, 2016

3,930 yen

1,965 yen

Share acquisition rights

February 7, 2018

3,470 yen

1,735 yen

3.

Other

Details of Selling, General and Administrative Expenses (Consolidated)

Item

First Nine Months of the

Previous Fiscal Year (From May 21, 2019 to

February 20, 2020)

First Nine Months of the Fiscal

Year Under Review (From May 21, 2020 to February 20, 2021)

(Reference) Fiscal Year

Ended May 2020 (From May 21, 2019 to

May 20, 2020)

Amount (Million Yen)

Ratio to Sales (%)

Amount (Million Yen)

Ratio to Sales (%)

YoY Change

(%)

Amount (Million Yen)

Ratio to Sales (%)

Personnel expenses *1

15,488

5.2

16,544

5.3

106.8

20,721

5.2

Shipment expenses

17,019

5.7

17,991

5.7

105.7

23,062

5.8

Provision for sales promotion expenses

400

0.1

415

0.1

103.7

533

0.1

Subcontract expenses

2,726

0.9

2,583

0.8

94.8

3,566

0.9

Business consignment expenses

8,135

2.7

8,522

2.7

104.8

10,921

2.7

Rents *2

7,188

2.4

7,629

2.4

106.1

9,727

2.4

Provision of allowance for doubtful accounts

28

0.0

32

0.0

115.4

69

0.0

Depreciation

2,225

0.7

2,335

0.7

104.9

3,017

0.8

Amortization of software *3

1,752

0.6

2,072

0.7

118.2

2,373

0.6

Other expenses

9,699

3.3

9,150

3.1

94.3

12,869

3.2

Total

64,666

21.6

67,279

21.5

104.0

86,862

21.7

*1. Compared to the same period of the previous fiscal year, personnel expenses increased for the period under review, and the main factor is the effect of the recording of provision for term-end performance-linked bonuses and others.

  • 2. Compared with the same period of the previous fiscal year, rents for the period under review increased. This was

  • mainly due to the completion of the construction of the "ASKUL Miyoshi Center" in January 2020.

  • 3. Compared with the same period of the previous fiscal year, amortization of software for the period under review increased, and this was mainly due to the operation start of a new product database and the shortened amortization period resulting from changes in accounting estimates.

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ASKUL Corporation published this content on 26 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2021 06:02:06 UTC.