Greens : 〔Delayed〕Summary of Consolidated Financial Results for the Year Ended June 30,2021

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 Year Ended June 30, 2021

(Based on Japanese GAAP)

					August 13, 2021
Company name:	GREENS CO.,LTD.
Stock exchange listing:	Tokyo, Nagoya
Stock code:	6547	URL https://www.kk-greens.jp/
Representative:	President & Representative Director	Muraki Takeya
Inquiries:	Director and General Manager	Hiroya Ito	TEL [phone]
Administration Div.
Scheduled date of ordinary general meeting of shareholders:	September 27, 2021
Scheduled date to file Securities Report:	September 27, 2021
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:		Yes	(for analysts and institutional investors)

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

1. Consolidated financial results for the year ended June 30, 2021 (from July 1, 2020 to June 30, 2021)

(1) Consolidated operating results													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	%
Year ended June 30, 2021	15,711		(31.4)	(8,573)		-		(8,346)	-		(8,803)	-
Year ended June 30, 2020	22,909		(25.9)	(3,456)		-		(3,514)	-		(4,334)	-
	Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
			share			owners of				assets			sales
								parent/equity
			Yen			Yen			%					%			%
Year ended June 30, 2021		(683.68)			-			(573.5)				(48.1)			(54.6)
Year ended June 30, 2020		(336.62)			-			(52.1)				(19.3)			(15.1)
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio	Net assets per share
	Millions of yen	Millions of yen					%				Yen
As of June 30, 2021				17,296					(2,933)					(17.0)				(227.80)
As of June 30, 2020				17,422					6,003					34.5				466.21
(3) Consolidated cash flows
	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities		at end of period
	Millions of yen	Millions of yen	Millions of yen		Millions of yen
Year ended June 30, 2021				(7,616)					(929)					8,132				3,881
Year ended June 30, 2020				(4,591)					(925)					4,176				4,295
2. Cash dividends
						Annual dividends per share					Total cash	Dividend payout	Ratio of dividends
															to net assets
	1st quarter-end		2nd quarter-end	3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
	Yen					Yen	Yen		Yen	Yen	Millions of yen		%		%
Year ended June 30, 2020	-				0.00	-		10.00	10.00		128		-		1.5
Year ended June 30, 2021	-				0.00	-		0.00	0.00		-		-		-
Year ending June 30, 2022	-					-	-				-			-				-
(Forecast)

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3. Forecast of consolidated financial results for the year ending June 30, 2022 (from July 1, 2021 to June 30, 2022)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Six months ending

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

-

-

-

-

-

-

-

-

-

December 31, 2021

Full year

-

-

-

-

-

-

-

-

-

4. Notes

(1) Changes in significant subsidiaries during the year ended June 30, 2021

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) 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:

No

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

Yes

Restatement of prior period financial statements:

No

(3) Number of issued shares (common shares)

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

	As of June 30, 2021	12,886,200	shares	As of June 30, 2020	12,886,200	shares
Number of treasury shares at the end of the period
	As of June 30, 2021	9,742	shares	As of June 30, 2020	9,742	shares
Average number of shares during the period
	Year ended June 30, 2021	12,876,458	shares	Year ended June 30, 2020	12,877,734	shares

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Consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of June 30, 2020	As of June 30, 2021
Assets
Current assets
Cash and deposits	4,295,298	3,881,696
Accounts receivable - trade	444,945	894,719
Raw materials and supplies	93,861	100,253
Prepaid expenses	810,957	958,825
Income taxes receivable	336,042	-
Consumption taxes receivable	459,533	397,849
Other	48,397	50,629
Allowance for doubtful accounts	(410)	(890)
Total current assets	6,488,625	6,283,084
Non-current assets
Property, plant and equipment
Buildings and structures, net	2,417,498	2,230,966
Tools, furniture and fixtures, net	332,834	377,424
Land	1,965,426	1,965,426
Leased assets, net	110,200	142,058
Construction in progress	412	137,932
Total property, plant and equipment	4,826,373	4,853,809
Intangible assets	265,011	191,333
Investments and other assets
Investment securities	51,665	53,327
Long-term loans receivable	36,478	27,657
Guarantee deposits	5,581,170	5,817,317
Other	230,321	119,138
Allowance for doubtful accounts	(57,000)	(49,000)
Total investments and other assets	5,842,635	5,968,441
Total non-current assets	10,934,021	11,013,585
Total assets		17,422,646	17,296,669

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			(Thousands of yen)
		As of June 30, 2020	As of June 30, 2021
Liabilities
Current liabilities
Accounts payable - trade	532,599	708,570
Short-term borrowings	5,000,000	7,600,000
Current portion of long-term borrowings	731,628	731,628
Accounts payable - other	539,318	571,973
Accrued expenses	534,229	546,269
Income taxes payable	57,969	43,366
Accrued consumption taxes	4,419	-
Other	259,770	270,254
Total current liabilities	7,659,936	10,472,062
Non-current liabilities
Long-term borrowings	3,054,853	8,948,225
Asset retirement obligations	526,374	555,845
Other	178,352	253,826
Total non-current liabilities	3,759,579	9,757,897
Total liabilities	11,419,515	20,229,960
Net assets
Shareholders' equity
Share capital	1,948,025	1,948,025
Capital surplus	1,949,813	1,949,813
Retained earnings	2,119,758	(6,812,327)
Treasury shares	(8,917)	(8,917)
Total shareholders' equity	6,008,679	(2,923,405)
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	(5,548)	(9,884)
Total accumulated other comprehensive income	(5,548)	(9,884)
Total net assets	6,003,130	(2,933,290)
Total liabilities and net assets		17,422,646	17,296,669

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

			(Thousands of yen)
		Fiscal year ended	Fiscal year ended
		June 30, 2020	June 30, 2021
Net sales	22,909,695	15,711,294
Cost of sales	21,396,774	19,995,925
Gross profit (loss)	1,512,920	(4,284,630)
Selling, general and administrative expenses	4,969,679	4,288,843
Operating loss	(3,456,758)	(8,573,474)
Non-operating income
Interest income	868	679
Dividend income	1,239	1,403
Penalty income	41,467	204,083
Commission income	18,581	-
Subsidy income	13,622	242,190
Other	31,272	35,606
Total non-operating income	107,051	483,962
Non-operating expenses
Interest expenses	15,831	51,876
Borrowing fee	146,548	181,994
Other	2,343	22,757
Total non-operating expenses	164,723	256,628
Ordinary loss	(3,514,431)	(8,346,139)
Extraordinary income
Gain on sale of non-current assets	2,877	37
Total extraordinary income	2,877	37
Extraordinary losses
Loss on sale of non-current assets	33,552	-
Loss on retirement of non-current assets	10,034	3,125
Impairment losses	411,189	155,761
Loss on cancellation of rental contracts	-	39,000
Loss on temporary closure	249,333	-
Other	425	-
Total extraordinary losses	704,534	197,886
Loss before income taxes	(4,216,088)	(8,543,989)
Income taxes - current	63,461	64,634
Income taxes - deferred	55,343	194,696
Total income taxes	118,805	259,331
Loss	(4,334,893)	(8,803,320)
Loss attributable to owners of parent		(4,334,893)	(8,803,320)

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