ASKUL : Summary of Financial Results for 1Q FY5/2022

Summary of Financial Results

for 1Q FY5/2022

September 16, 2021 ASKUL Corporation

Note:

This material contains the ASKUL Group's current plans and performance outlook. These plans, forecasts, and other forward-looking statements represent ASKUL's plans and forecasts based on information that is currently available. Actual performance may differ from these plans and forecasts due to a variety of conditions and factors that could occur in the future. This material does not represent promises or guarantees regarding the achievement of these plans.

This material has not been audited by certified public accountants or auditing firms.

For the purpose of this material, LOHACO refers to the online mail-order business for general consumers launched in October 2012 in alliance with Yahoo Japan Corporation.

A "new ASKUL website" refers to constructing a new website that integrates the site for small and medium-sized businesses and the one for middle-level and large enterprises.

B-to-B refers to business-to-business transactions. B-to-C refers to business-to-consumer transactions.

MRO refers to Maintenance, Repair and Operation, and in this material primarily refers to indirect materials consumed at work sites by companies.

DX refers to digital transformation.

Since the presentation of the overview of consolidated financial statements for the fiscal year ended May 20, 2016, ASKUL has been reporting its operating performances by dividing its organization into the segments of the E-commerce business, Logistics business, and Other. The E- commerce business deals with sales of OA and PC supplies, stationery, office living supplies, office furniture, foods, alcoholic beverages, pharmaceuticals, cosmetics, etc. The logistics business refers to logistics and package transport services that target corporations.

This material occasionally uses abbreviations to express ASKUL's distribution centers;

ASKUL Logi PARK as ALP, ASKUL Value Center as AVC, Demand Management Center as DMC, and ASKUL Tokyo Distribution Center as ASKUL Tokyo DC.

Reproduction or reprinting in any form of all or part of this material (including trademarks and images) without the permission of ASKUL is prohibited.

2

Executive Summary

Good Start for 1Q Projected Line

Both Net Sales and Profits Marked Record Highs

• B-to-Bcontinued to see base growth despite a predicted recoil from the past sharp rise in infection-prevention products.
• LOHACO successfully completed the launch of the new main store and has started regrowth toward turning profitable in the next fiscal year.

Ongoing Implementation of Growth Scenario in Medium-term Management Plan

• Construction of ASKUL Tokyo DC was completed in July, leasing began in September as scheduled, and construction of a material handling system started.
• The new ASKUL website is on track to release some of its features ahead of others in the second half.
• LOHACO deepens synergies with Z Holdings through efforts including the launch of the new main store and fast delivery business.
• The platform reform and DX initiatives launch a variety of measures.

Copyright © ASKUL Corporation All Rights Reserved.

3

I. Consolidated Performance for 1Q FY5/2022

1. B-to-BIII. B-to-C IV. ESG / DX

V. Appendix

Copyright © ASKUL Corporation All Rights Reserved.

4

1Q FY5/2022 Consolidated Performance

Consolidated

	1Q FY5/2021*1		1Q FY5/2022
	Actual	% of net	Reference	Actual	% of net	YoY	Reference	➢ Net sales
	sales	sales	change	102.3% YoY
(¥million)		value*2		value*2
	％		％	％
	100,180	100.0	99,072	102,442	100.0	+2.3	+3.4	(103.4% in real terms*2)
Net Sales
Renewed the previous record
Gross Profit	24,851	24.8	24,612	24,994	24.4	+0.6	+1.6	➢ SG&A expenses ratio
Selling, General and	21,861	21.8	21,621	21,721	21.2	-0.6	+0.5	Down 0.6 points YoY
Administrative
Expenses								➢ Operating profit, ordinary profit
	2,989			3,272
Operating Profit	3.0		3.2	+9.4		and profit
Ordinary Profit	2,986	3.0		3,240	3.2	+8.5		Broke the previous record profit
Profit Attributable to	1,502	1.5		2,153	2.1	+43.3
Owners of Parent

*1	A provisional accounting treatment related to a business combination was finalized during 2Q FY5/2021, and the figures for 1Q FY5/2021 reflect details of the finalization.
*2	Reference value assuming that the Accounting Standard for Revenue Recognition, etc. have been applied since the previous fiscal year.	5
Copyright © ASKUL Corporation All Rights Reserved.