ASKUL : Summary of Financial Results for 3Q FY5/2022

Summary of Financial Results

for 3Q FY5/2022

March 15, 2022

ASKUL Corporation

Note / Disclaimer:

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 (SMEs) and the

one for medium- 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 supplies, living supplies, furniture, beverages/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.

This material is an English translation of the original Japanese version and provided solely for the purpose of the reader's convenience. In

the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail in all respects.

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2

Executive Summary

Consolidated Performance for 3Q Finished Almost in Line with Plan Both Net Sales and Profits Marked Record Highs

• B-to-Bshows signs of regrowth due to narrowing of the reactionary decline in infection-prevention products and growth in Living Supplies and MRO. Profit progressed as planned due to cost-control measures.
• In LOHACO, gross profit margin and distribution cost ratio improved due to the addition of functions to its New Main Store in coordination with Z Holdings. Profit structure reform progressed toward achieving profitability in the next fiscal year.

Ongoing Implementation of Growth Scenario in Medium-term Management Plan

• New ASKUL website requires an additional investment of 4.5 billion yen due to the additional development requirements.
  Aiming for reliable release to achieve significant growth.
• Procurement of semiconductor components at ASKUL Tokyo DC is improving, and the probability of operation within the year is increasing.
• Leveraging knowledge from LOHACO, B-to-B advertising business to begin test phase.

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3

I. Consolidated Performance for 3Q FY5/2022

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

V. Appendix

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4

3Q FY5/2022 Consolidated Performance

Consolidated

	Cumulative results for 3Q	Cumulative results for 3Q
	FY5/2021			FY5/2022
		% of net	Reference		% of net	YoY	Reference
	Actual	sales	Actual	sales	change
(¥million)		%		value*		%	%	value*
Net Sales	313,003	100.0		309,099	317,994	100.0	+1.6	+2.9
Gross Profit	77,565	24.8		76,813	77,451	24.4	-0.1	+0.8
Selling, General and	67,279	21.5		66,527	66,813	21.0	-0.7	+0.4
Administrative
Expenses
Operating Profit	10,286	3.3			10,637	3.3	+3.4
Ordinary Profit	10,236	3.3			10,646	3.3	+4.0
Profit Attributable to	6,150	2.0			7,131	2.2	+15.9
Owners of Parent

• Net sales

101.6% YoY

(102.9% in real terms*)

Renewed the previous record

• SG&A expenses ratio Down 0.5 points YoY
• Operating profit, ordinary profit and profit
  Broke the previous record

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* Reference value assuming that the Accounting Standard for Revenue Recognition, etc. have been applied since the previous fiscal year. 5