GCA : Consolidated Financial Results for the First Six Months of the Fiscal Year Ending December 31, 2021 (under IFRS)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the First Six Months of

the Fiscal Year Ending December 31, 2021

(under IFRS)

	August 3, 2021
Company name:	GCA Corporation
Listing:	Tokyo Stock Exchange First Section
Securities code:	2174
URL:	https://www.gcaglobal.co.jp
Representative:	Akihiro Watanabe, Representative Director
Inquiries:	Masaya Kato, Leader of Investor Relations Office
TEL:	[phone]

Scheduled date of the submission of quarterly securities report:	August 13, 2021
Scheduled date to commence dividend payments:	August 17, 2021
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results presentation meeting:	Yes

The Group's consolidated operating results are presented using both internal indicators used when management makes decisions (hereinafter, "Non-GAAP indicators") and indicators based on IFRS (hereinafter, "IFRS indicators"). Non-GAAP operating profit is calculated by deducting certain items reported in IFRS operating profit that are deemed to be non-recurring items by the Group.

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first six months of the fiscal year ending December 31, 2021 (from January 1, 2021 to June 30, 2021)

(1)	Consolidated operating results (Non-GAAP)		(Percentages indicate year-on-year changes.)
			Revenue		Operating profit	Profit before tax	Profit
	Six months ended	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen		%
	18,690		200.2	2,664		-	2,816		-	1,961		-
		June 30, 2021
		June 30, 2020	6,225		(33.1)	(87)		-	(149)		-	(64)		-
			Profit attributable to	Basic earnings	Diluted earnings
			owners of parent	per share		per share
	Six months ended	Millions of yen		%			Yen			Yen
		June 30, 2021	1,919		-			42.94			41.36
		June 30, 2020	(143)		-			(3.45)			(3.45)
(2)	Consolidated operating results (IFRS)				(Percentages indicate year-on-year changes.)
			Revenue		Operating profit	Profit before tax	Profit
	Six months ended	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen		%
	18,390		226.6	2,119		-	2,341		-	2,126		-
		June 30, 2021
		June 30, 2020	5,630		-	(522)		-	(584)		-	(204)		-
			Profit attributable to	Total comprehensive	Basic earnings	Diluted earnings
			owners of parent	income		per share		per share
	Six months ended	Millions of yen		%	Millions of yen		%			Yen			Yen
		June 30, 2021	2,083		-	3,613		-			46.61			44.90
		June 30, 2020	(283)		-	(1,091)		-			(6.82)			(6.82)

Note: The Asset Management Business has been classified as a discontinued operation from the first quarter. Accordingly, the amounts presented for revenue, operating profit and profit before tax for the first six months of the fiscal year

ended December 31, 2020, are amounts from continuing operations from which discontinued operations have been excluded.

(3) Consolidated financial position
		Total assets	Total equity	Equity attributable to	Ratio of equity
		attributable to owners
		owners of parent
				of parent
	As of	Millions of yen	Millions of yen	Millions of yen	%
	June 30, 2021	42,748	25,216	25,216	59.0
	December 31, 2020	37,324	22,384	21,983	58.9

2. Cash dividends

		Dividends per share
	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Annual total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended	-	17.50	-	17.50	35.00
December 31, 2020
Fiscal year ending	-	17.50
December 31, 2021
Fiscal year ending
December 31, 2021			-	0.00	17.50
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: Yes

3. Consolidated earnings forecast for the fiscal year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)

(1) Consolidated earnings forecast (Non-GAAP)		(Percentages indicate year-on-year changes.)
		Revenue		Operating profit	Profit before tax	Profit
		Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen	%
	Fiscal year ending	39,000		79.2	5,500		103.8	5,400	102.9	3,800	102.0
	December 31, 2021
		Profit attributable to	Basic earnings
		owners of parent	per share
		Millions of yen		%			Yen
	Fiscal year ending	3,750		116.9			83.78
	December 31, 2021
(2) Consolidated earnings forecast (IFRS)				(Percentages indicate year-on-year changes.)
		Revenue		Operating profit	Profit before tax	Profit
		Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen	%
	Fiscal year ending	38,500		75.8	4,600		161.2	4,500	150.4	3,500	244.2
	December 31, 2021
		Profit attributable to	Basic earnings
		owners of parent	per share
		Millions of yen		%			Yen
	Fiscal year ending	3,450		299.3			77.08
	December 31, 2021

Note: Revisions to the earnings forecast most recently announced: None

The Non-GAAP forecast listed above is the consolidated earnings forecast after deducting non-recurring items from the IFRS forecast. As a result, operating profit, profit before tax, profit and profit attributable to owners of parent will increase by the same amount on a Non-GAAP basis. The earnings forecast figures are outlooks based on information available at the time and include a considerable number of uncertain factors. Actual results may differ from the forecast figures due to changes in business conditions and other factors.

• Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies and changes in accounting estimates

(i)	Changes in accounting policies required by IFRS:	None
(ii)	Changes in accounting policies due to other reasons:	Yes
(iii)	Changes in accounting estimates:	None

(3) Number of issued shares (ordinary shares)

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

As of June 30, 2021	44,755,153 shares
As of December 31, 2020	44,673,353 shares

(ii) Number of treasury shares at end of the period

As of June 30, 2021	- shares
As of December 31, 2020	- shares

1. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

For the six months ended June 30, 2021	44,702,456 shares
For the six months ended June 30, 2020	41,576,608 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Explanation of appropriate use of earnings forecasts and other explanatory notes (Caution regarding forward-lookingstatements)
  Earnings forecasts and other forward-looking statements indicated in these materials are based on information available at the time and on certain assumptions deemed reasonable. These statements do not represent any guarantee of achievement by the Company. Furthermore, there is the possibility of significant changes in actual earnings due to various factors.

GCA Corporation (2174)

Condensed Quarterly Consolidated Financial Statements

1. Condensed quarterly consolidated statement of financial position

			(Millions of yen)
	As of December 31, 2020		As of June 30, 2021
Assets
Current assets
Cash and cash equivalents	16,773	19,354
Trade and other receivables	2,343	3,814
Other financial assets	678	968
Income taxes receivable	208	615
Other current assets	454		518
Total current assets	20,458	25,272
Non-current assets
Property, plant and equipment	3,876	3,780
Goodwill and intangible assets	9,511	10,691
Other financial assets	1,394	783
Other non-current assets	509	509
Deferred tax assets	1,573		1,710
Total non-current assets	16,866		17,476
Total assets	37,324		42,748

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