Consolidated Financial Results

for the Nine Months Ended December 31, 2021

[Japanese GAAP]

February 14, 2022

Company name: ESCRIT INC.

Stock exchange listing: Tokyo Stock Exchange

Code number: 2196

URL: http://www.escrit.jp/

Representative: Morihiro Shibutani, Representative Director, CEO

Contact: Itaru Kichise, Director, CFO

Phone: +81-3-3539-7654

Scheduled date of filing quarterly securities report: February 14, 2022

Scheduled date of commencing dividend payments: ―

Availability of supplementary explanatory materials on quarterly financial results: Available

Schedule of quarterly financial results briefing session: Not scheduled

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

1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 1, 2021 - December 31,

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

Million yen

%

Million yen

%

Million yen

%

Million yen

%

December 31, 2021

16,162

103.3

(730)

-

(46)

-

733

-

December 31, 2020

7,950

(67.9)

(4,858)

-

(4,985)

-

(4,074)

-

(Note) Comprehensive income: Nine months ended December 31, 2021: ¥722 million [-%] Nine months ended December 31, 2020: ¥(4,071) million [-%]

Basic earnings

Diluted earnings

per share

per share

Nine months ended

Yen

Yen

December 31, 2021

41.73

34.86

December 31, 2020

(320.87)

-

(Note) Although potential dilutive shares existed, diluted earnings per share for the nine months ended December 31, 2020 are not stated herein because a net loss per share was recorded.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

As of December 31, 2021

25,313

6,191

24.4

As of March 31, 2021

26,142

5,565

21.3

(Reference) Equity: As of December 31, 2021: ¥6,188 million As of March 31, 2021: ¥5,562 million

2. Dividends

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

0.00

-

0.00

0.00

March 31, 2021

Fiscal year ending

-

0.00

-

March 31, 2022

Fiscal year ending

March 31, 2022

0.00

0.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(% indicates changes from the previous corresponding period.)

Profit attributable

Basic earnings

Net sales

Operating profit

Ordinary profit

to owners of

per share

parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Full year

22,406

73.1

(1,174)

-

(1,006)

-

100

-

(9.25)

(Note) Revision to the financial results forecast announced most recently: None

* Notes:

(1) Changes in significant subsidiaries during the period under review: Yes (Changes in specified subsidiaries resulting in changes in scope of consolidation):

Newly included: ―, Excluded: One (1) (ESCRIT Management Partners KK)

(Note) On April 1, 2021, the Company conducted an absorption-type merger, in which the Company was the surviving company while ESCRIT Management Partners KK was the absorbed company.

  1. Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
  2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: Yes
    2. Changes in accounting policies other than 1) above: None
    3. Changes in accounting estimates: None
    4. Retrospective restatement: None
  3. Total number of issued and outstanding shares (common shares)
    1. Total number of issued and outstanding shares at the end of the period (including treasury shares):

December 31, 2021:

13,786,500 shares

March 31, 2021:

13,786,500 shares

2) Total number of treasury shares at the end of the period:

December 31, 2021:

277,965 shares

March 31, 2021:

277,932 shares

3) Average number of shares during the period:

Nine months ended December 31, 2021:

13,508,558 shares

Nine months ended December 31, 2020:

12,696,932 shares

  • These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
  • Explanation of the proper use of financial results forecast and other notes (Notes on forward-looking statements)
    Earnings forecasts and other forward-looking statements herein are based on information currently available to the Company and certain assumptions deemed reasonable, and do not represent a commitment from the Company that they will be achieved. Actual results may differ significantly from the forecasts due to various factors.
    (Access to supplementary explanatory materials on financial results)
    Supplementary explanatory materials on financial results were posted on the Company's website on February 14, 2022.

Dividends Payable for Class Shares

The breakdown of dividend per share for the class shares with different rights from those of the Company's common share is as follows:

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Class A shares

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

-

-

-

-

March 31, 2021

Fiscal year ending

-

37,500.00

-

March 31, 2022

Fiscal year ending

March 31, 2022

37,500.00

75,000.00

(Forecast)

(Note) Class A shares hereinabove were issued on March 31, 2021.

Breakdown of Dividends Paid Out of Capital Surplus

Of the class A shares for the second quarter of the fiscal year ending March 31, 2022, the breakdown of dividends paid out of capital surplus is as follows:

Base date

2nd quarter-end

Yen

Dividend per share

37,500

Total dividends

112,500 thousand

(Note) Rate of decrease in net assets: 0.015 (rounded up to the third decimal place)

2. Quarterly Consolidated Financial Statements and Principal Notes

(1) Quarterly Consolidated Balance Sheets

(Thousand yen)

As of March 31, 2021

As of December 31, 2021

Assets

Current assets

Cash and deposits

Notes and accounts receivable - trade

Notes and accounts receivable - trade, and contract assets

Accounts receivable from completed construction contracts

Real estate for sale

Merchandise and finished goods

Raw materials and supplies

Costs on construction contracts in progress Other

Allowance for doubtful accounts

Total current assets

Non-current assets

Property, plant and equipment

6,723,607

5,903,781

135,353

-

-

683,641

724,319

19,679

420,645

405,656

269,122

272,329

62,267

69,949

57,958

552,756

962,038

657,976

(38,829)

(40,786)

9,316,483

8,524,983

Buildings and structures, net

7,186,774

6,566,177

Other

1,931,312

1,731,184

Total property, plant and equipment

9,118,087

8,297,362

Intangible assets

79,451

87,292

Investments and other assets

Leasehold and guarantee deposits

3,639,927

3,604,087

Deferred tax assets

3,673,003

4,491,612

Other

344,847

336,250

Allowance for doubtful accounts

(28,999)

(28,222)

Total investments and other assets

7,628,780

8,403,727

Total non-current assets

16,826,319

16,788,382

Total assets

26,142,802

25,313,366

1

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ESCRIT Inc. published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 09:50:03 UTC.