Astena : Summary of Consolidated Financial Results for the Nine Months Ended August 31, 2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

		Summary of Consolidated Financial Results
		for the Nine Months Ended August 31, 2022
		(Based on Japanese GAAP)
				October 12, 2022
Company name:	Astena Holdings Co.,Ltd.
Stock exchange listing:	Tokyo
Stock code:	8095	URL https://www.astena-hd.com
Representative:	President		Keitaro Iwaki
Inquiries:	Board Director	Masaaki Atsumi	TEL [phone]
Scheduled date to file Quarterly Securities Report:	October 12, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended August 31, 2022 (from December 1, 2021 to August 31, 2022)

(1) Consolidated operating results (cumulative)								Percentages indicate year-on-year changes
	Net sales				Operating profit	Ordinary profit		Profit attributable to
						owners of parent
	Millions of yen		%	Millions of yen	%	Millions of yen		%		Millions of yen	%
Nine months ended August 31, 2022	36,928		-		426	-		516		-			606	-
Nine months ended August 31, 2021	53,727		13.0		1,953	38.9		2,040		43.6			1,130	(26.7)
	Earnings per share		Diluted earnings per share
			Yen					Yen
Nine months ended August 31, 2022			15.17					-
Nine months ended August 31, 2021			31.20					30.99
(2) Consolidated financial position
	Total assets				Net assets	Equity ratio			Net assets per share
	Millions of yen			Millions of yen				%				Yen
As of August 31, 2022		62,862					27,123				43.0				683.14
As of November 30, 2021		63,553					27,006				42.5				677.09
2. Cash dividends
						Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen				Yen			Yen				Yen		Yen
Year ended November 30, 2021		-			9.00			-				9.00		18.00
Year ending November 30, 2022		-			9.00			-
Year ending November 30, 2022													9.00		18.00
(Forecast)

3. Forecast of consolidated financial results for the year ending November 30, 2022 (from December 1, 2021 to November 30, 2022) Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Earnings per share
				owners of parent
	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen		%	Yen
Full year	50,000	-	1,000		-	1,000		-	1,100		-	27.59

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4. Notes

1. Changes in significant subsidiaries during the nine months ended August 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

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

	As of August 31, 2022	40,772,366	shares	As of November 30, 2021	40,630,087	shares
Number of treasury shares at the end of the period
	As of August 31, 2022	1,188,042	shares	As of November 30, 2021	753,787	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended August 31, 2022	39,942,451	shares	Nine months ended August 31, 2021	36,219,790	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of November 30, 2021	As of August 31, 2022
Assets
Current assets
Cash and deposits	10,927,061	7,156,430
Notes and accounts receivable - trade	13,542,403	-
Notes and accounts receivable - trade, and contract assets	-	14,431,369
Electronically recorded monetary claims - operating	3,171,123	3,462,169
Merchandise and finished goods	5,350,885	6,104,610
Work in process	2,130,371	1,929,225
Raw materials and supplies	1,856,915	1,867,666
Other	1,113,358	1,109,132
Allowance for doubtful accounts	(35,136)	(32,880)
Total current assets	38,056,982	36,027,724
Non-current assets
Property, plant and equipment
Buildings and structures	10,445,657	10,315,600
Accumulated depreciation	(6,361,673)	(6,393,147)
Buildings and structures, net	4,083,983	3,922,453
Machinery, equipment and vehicles	9,434,943	9,842,172
Accumulated depreciation	(7,829,996)	(8,111,981)
Machinery, equipment and vehicles, net	1,604,946	1,730,191
Land	3,690,159	3,244,625
Other	3,752,826	3,910,369
Accumulated depreciation	(2,622,882)	(2,740,034)
Other, net	1,129,943	1,170,335
Construction in progress	1,440,999	2,922,093
Total property, plant and equipment	11,950,032	12,989,699
Intangible assets
Goodwill	4,394,812	4,588,011
Technical assets	542,329	516,505
Customer relationship	2,183,926	2,098,688
Other	1,290,775	1,286,792
Total intangible assets	8,411,844	8,489,998
Investments and other assets
Investment securities	3,612,852	3,889,578
Retirement benefit asset	393,341	342,540
Other	1,152,551	1,146,649
Allowance for doubtful accounts	(23,954)	(23,794)
Total investments and other assets	5,134,790	5,354,974
Total non-current assets	25,496,667	26,834,671
Total assets		63,553,650	62,862,395

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			(Thousands of yen)
		As of November 30, 2021	As of August 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	8,851,843	8,418,466
Electronically recorded obligations - operating	3,265,906	3,576,918
Short-term borrowings	9,053,400	9,935,000
Accrued expenses	2,790,109	1,719,119
Income taxes payable	875,499	538,086
Provision for bonuses	794,853	1,037,719
Provision for sales returns	24,334	-
Provision for product warranties	4,914	2,924
Other provisions	-	34,100
Other	978,385	1,580,481
Total current liabilities	26,639,245	26,842,816
Non-current liabilities
Long-term borrowings	5,812,500	4,877,500
Deferred tax liabilities	936,999	764,450
Provision for share-based compensation	66,255	66,255
Retirement benefit liability	2,598,896	2,626,000
Other	493,480	561,505
Total non-current liabilities	9,908,132	8,895,712
Total liabilities	36,547,377	35,738,528
Net assets
Shareholders' equity
Share capital	4,528,304	4,557,400
Capital surplus	6,516,607	6,538,828
Retained earnings	15,027,322	15,058,299
Treasury shares	(254,106)	(441,100)
Total shareholders' equity	25,818,127	25,713,427
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	985,867	1,051,846
Deferred gains or losses on hedges	(763)	(787)
Foreign currency translation adjustment	103,839	193,192
Remeasurements of defined benefit plans	92,615	83,835
Total accumulated other comprehensive income	1,181,558	1,328,086
Non-controlling interests	6,586	82,353
Total net assets	27,006,272	27,123,867
Total liabilities and net assets		63,553,650	62,862,395

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Thousands of yen)
		Nine months ended	Nine months ended
		August 31, 2021	August 31, 2022
Net sales	53,727,608	36,928,145
Cost of sales	41,007,825	25,256,654
Gross profit	12,719,783	11,671,491
Selling, general and administrative expenses	10,766,380	11,245,161
Operating profit	1,953,402	426,329
Non-operating income
Interest income	2,041	2,014
Dividend income	51,303	53,813
Rental income	27,890	13,072
Foreign exchange gains	-	72,272
Other	120,961	110,978
Total non-operating income	202,195	252,151
Non-operating expenses
Interest expenses	46,023	40,057
Rent costs	15,000	-
Foreign exchange losses	7,430	-
Share of loss of entities accounted for using equity method	16,036	50,880
Other	30,884	70,796
Total non-operating expenses	115,375	161,734
Ordinary profit	2,040,222	516,746
Extraordinary income
Gain on sale of non-current assets	1,521	660,304
Gain on sale of investment securities	11	-
Gain on donation of a state subsidy	-	24,900
Total extraordinary income	1,533	685,204
Extraordinary losses
Loss on disposal of non-current assets	56,605	20,843
Loss on sale of non-current assets	1,336	-
Loss on transition of retirement benefit plan	-	56,365
Total extraordinary losses	57,942	77,209
Profit before income taxes	1,983,813	1,124,741
Income taxes - current	772,204	944,243
Income taxes - deferred	81,374	(420,519)
Total income taxes	853,579	523,724
Profit	1,130,234	601,017
Loss attributable to non-controlling interests	-	(5,033)
Profit attributable to owners of parent		1,130,234	606,050

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