Autobacs Seven : Summary of financial results for 2nd Quarter Consolidated Financial Results

October 31, 2022

Consolidated Financial Results for the Six Months

Ended September 30, 2022【Japanese GAAP】

Summary of Quick Financial Announcement of Consolidated Financial Information for the Six Months Ended September 30, 2022.

Company name: AUTOBACS SEVEN CO., LTD.

Code number: 9832

(URL https://www.autobacs.co.jp/) Headquarters: Tokyo, Japan

Company Representative: Yugo Horii, Representative Director, Chief Executive Officer

Contact for further information: Hiroyuki Takano, General Manager, Finance & Accounting Department

Telephone: [phone]

Stock exchange listing: Tokyo

Submission of Quarterly Business Report: November 7, 2022

Start of cash dividend payments: November 25, 2022

Supplementary quarterly materials prepared: Yes

Quarterly results information meeting held: Yes(for securities analysts and institutional investors, etc.)

1. Results for the six months ended September 30, 2022 (From April 1, 2022 to September 30, 2022)

(Note: Amounts less than 1 million Yen have been rounded down. A figure in ( ) indicates a loss or a negative figure.)

(1) Results of operations:

(Unit: Millions of Yen except for per share information, and % information which indicates increase or decrease( ).)

	Net sales		Operating income	Ordinary income
Six months ended			％	％		％
September 30, 2022	107,096	3.4	3,504	20.2	3,715	20.5
Six months ended
September 30, 2021	103,551	－	2,914	－	3,083	－
Note: Comprehensive income:	4,666 million yen for the Six months ended September 30, 2022: 79.6%
	2,598 million yen for the Six months ended September 30, 2021: －%
	Profit attributable to	Basic net income	Basic net income per
	owners of parent	per share (Yen)	share - diluted (Yen)
Six months ended			％
September 30, 2022	3,149	66.8	40.41		－
Six months ended
September 30, 2021	1,888	－	23.82		－

Note: The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020), etc. were applied from the beginning of the first three month of the consolidated fiscal year ended June 30, 2021. Accordingly, the figures for the six months ended September 30, 2021 reflect said accounting standard, etc., and increase or decrease rates from the same quarter of the previous year are not indicated.

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1. Financial position:
   (Unit: Millions of Yen except for per share information)

				Net assets per
	Total assets	Total net assets	Equity ratio	share (Yen)
Six months ended				％
September 30, 2022	183,133	125,248	68.2	1,602.01
Fiscal year ended
March 31, 2022	189,910	122,892	64.5	1,572.48
(Reference) Equity: Six months ended September 30, 2022: 124,875 million Yen
	Fiscal year ended March 31, 2022: 122,549 million Yen

2. Dividends

			Dividends per share				(Yen)
		Three months	Second Quarter	Third Quarter	Year -end	Annual
Fiscal year ended
March 31, 2022		－	30.00			－	30.00		60.00
Fiscal year ended
March 31, 2023		－	30.00
Fiscal year ended
March 31, 2023
(forecast)						－	30.00		60.00

Note: Revisions to dividend forecasts published most recently: None

3. Forecast for the fiscal year ending March 2023 (from April 1, 2022 to March 31, 2023)

(Unit: Millions of Yen, percentage figures denote year-on-year change)

	Net sales		Operating income	Ordinary income
			％		％		％
Annual	230,000		0.6	10,000	(13.4)	10,300	(8.4)
	Profit attributable to		Basic net income
	owners of parent		per share (Yen)
			％
Annual	6,900		(1.6)	88.52

Note: Revisions to financial forecasts published most recently: None

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4. Other

1. Significant changes in scope of consolidation: None
2. Adoption of special accounting policies for quarterly financial statements: None
3. Changes in accounting policies, accounting estimation change and restatement

1.	Changes due to changes in accounting standard	: None
2.	Changes due to changes in accounting standard except (3)-1.	: None
3.	Changes due to accounting estimation change	: None
4.	Restatement	: None

1. Shares outstanding (common stock)
2. 1. Number of shares outstanding (including treasury stock)
      Six months ended September 30, 2022: 82,050,105 shares
      Fiscal year ended March 31, 2022: 82,050,105 shares
   2. Number of treasury stock at the end of period

Six months ended September 30, 2022: 4,100,743 shares

Fiscal year ended March 31, 2022: 4,116,555 shares

3. Average shares outstanding over quarter

Six months ended September 30, 2022: 77,938,995 shares

Six months ended September 30, 2021: 79,304,110 shares

※These financial results are not subject to quarterly review procedures by certified public accountants or auditing firms.

※Statement regarding the proper use of financial forecasts and other special remarks (Statement regarding the proper use of financial forecasts)

These forecast performance figures are based on the information currently available to the Company's management and certain assumptions judged rational. Accordingly, these might be cases in which actual results materially differ from forecasts of this report.

(Availability of quarterly financial results supplementary material)

Autobacs Seven Co., Ltd. will be held the Analysts Meeting online on November 1, 2022. The presentation material of the meeting will be uploaded on the Company's website afterwards.

5. Qualitative Information Concerning the Six Months Ended September 30, 2022

*Qualitative information will be updated as soon as the English translation is completed.

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6. Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2022 As of September 30, 2022

Assets
Current assets
Cash and deposits	24,800	22,579
Notes and accounts receivable - trade	25,842	22,953
Merchandise	21,516	25,643
Accounts receivable - other	25,778	19,346
Other	10,033	10,724
Allowance for doubtful accounts	(54)	(38)
Total current assets	107,917	101,208
Non-current assets
Property, plant and equipment
Land	24,529	24,999
Other, net	20,738	21,650
Total property, plant and	45,268	46,649
equipment
Intangible assets
Goodwill	2,215	2,104
Other	6,735	7,359
Total intangible assets	8,951	9,464
Investments and other assets
Guarantee deposits	12,744	12,217
Other	15,046	13,610
Allowance for doubtful accounts	(16)	(17)
Total investments and other assets	27,773	25,810
Total non-current assets	81,993	81,924
Total assets	189,910	183,133
Liabilities
Current liabilities
Notes and accounts payable - trade	17,702	14,634
Short-term borrowings	1,724	937
Accounts payable - other	14,480	12,632
Income taxes payable	1,987	1,267
Other	10,901	10,578
Total current liabilities	46,795	40,049
Non-current liabilities
Long-term borrowings	4,917	5,741
Provisions	19	19
Retirement benefit liability	3,233	338
Asset retirement obligations	2,675	2,701
Other	9,377	9,033
Total non-current liabilities	20,223	17,835
Total liabilities		67,018	57,884

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(Millions of yen)

As of March 31, 2022 As of September 30, 2022

Net assets
Shareholders' equity
Share capital	33,998	33,998
Capital surplus	34,156	34,156
Retained earnings	59,442	60,247
Treasury shares	(7,016)	(6,988)
Total shareholders' equity	120,581	121,414
Accumulated other comprehensive
income
Valuation difference on	2,308	1,930
available-for-sale securities
Foreign currency translation	1,065	1,531
adjustment
Remeasurements of defined benefit	(1,406)	－
plans
Total accumulated other	1,967	3,461
comprehensive income
Non-controlling interests	342	372
Total net assets	122,892	125,248
Total liabilities and net assets		189,910	183,133

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