Ipet : Summary of Consolidated Financial Results for the 3rd Quarter Ended December 31, 2021

Summary of Consolidated Financial Results for the 3rd Quarter Ended

December 31, 2021 [Japan GAAP]

		February 7, 2022
Company	ipet Holdings, Inc.	Listed on the TSE
Stock Code	7339	URL:https://www.ipet-hd.com
Representative	Atsuko Yasuda, Representative Director and CEO
Contact	Yuta Kudo, Director and CFO	E-mail:[e-mail]
Expected date of filing of quarterly report: February 10, 2022	Expected starting date of dividend payment: -
Preparation of quarterly supplementary material for financial results: Yes
Quarterly results briefing: None

The Company discloses its operating results based on both internal indicators used by managements' decision making ("Non-GAAP Indicator") and indicators based on Japanese GAAP ("J-GAAP Indicators"). The difference between the two indicators is method of calculating policy reserves, which is based on the unearned premium method for Non-GAAP indictor and the initial year balance method for J-GAAP indicator. For details, please refer to page 21 and page 40 of the supplementary material for financial results.

（Rounded down to million yen）

1. Consolidated business results for the Nine months ended December 2021 (April 1, 2021 through December 31, 2021)

1. ① Consolidated results of operations based on the unearned premium method (Non-GAAP)

(% change from the previous corresponding period)

		Recurring revenue	Recurring	profit	Net income attributable to
		owners of parent
		Million yen	%	Million yen	%	Million yen	%
Nine months ended Dec. 2021		21,006	26.7	473	86.3	300	101.7
Nine months ended Dec. 2020		16,584	-	254	-	148	-
		Net income		Diluted net income
		per share		per share
			Yen		Yen
Nine months ended Dec. 2021			27.72		27.36
Nine months ended Dec. 2020			13.77		13.57
(Reference)
Adjusted recurring profit
Nine months ended Dec. 2021: 1,121 million yen
Nine months ended Dec. 2020: 777 million yen
Adjusted net income
Nine months ended Dec. 2021: 766 million yen
Nine months ended Dec. 2020:	525 million yen

Adjusted net income per share

Nine months ended Dec. 2021: 70.81 yen

Nine months ended Dec. 2020: 48.63 yen

Diluted net income per share

Nine months ended Dec. 2021: 69.89 yen

Nine months ended Dec. 2020: 47.92 yen

(Note) Since the Company was established on October 1, 2020 through a sole-share transfer, % change from the previous corresponding period of the previous fiscal year are not presented.

• Consolidated results of operations based on the initial year balance method (J-GAAP)

(% change from the previous corresponding period)

	Recurring revenue		Recurring	profit	Net income attributable to
		owners of parent
	Million yen	%	Million yen	%	Million yen	%
Nine months ended Dec. 2021	21,006	26.7	142	-55.1	61	-68.2
Nine months ended Dec. 2020	16,584	-	317	-	194	-

(Note) Comprehensive profit

Nine months ended December 2021: 22 million yen (-92.4%)

Nine months ended December 2020: 296 million yen ( － %)

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	Net income	Diluted net income
	per share	per share
	Yen	Yen
Nine months ended Dec. 2021	5.71	5.63
Nine months ended Dec. 2020	17.99	17.72

(Note) Since the Company was established on October 1, 2020 through a sole-share transfer, % change from the previous corresponding period of the previous fiscal year are not presented.

(2) Consolidated financial position

		Total assets	Net assets	Shareholders' equity
		ratio
		Million yen	Million yen	%
As of Dec. 2021		20,972	5,028	24.0
As of Mar. 2021		17,408	4,992	28.7
(Reference) Shareholders' equity
As of December 2021: 5,028 million yen
As of March	2021: 4,992 million yen

2. Dividends

			Annual dividend
	End of 1Q	End of 2Q		End of 3Q	Year-end	Total
	Yen	Yen		Yen	Yen	Yen
Year ended Mar. 2021	-	-		-	0.00	0.00
Year ending Mar. 2022	-	0.00		-
Year ending Mar. 2022 (forecast)					0.00	0.00

(Note 1) Revisions to dividend forecast for the current quarter: None

(Note 2) Since the Company was established on October 1, 2020 through a sole-share transfer, results until the second quarter of the previous fiscal year are not presented.

3．Forecast of consolidated business results based on the unearned premium method for the fiscal year ending March 2022 (Non-GAAP) (April 1, 2021 through March 31, 2022)

(% change from the previous corresponding period)

	Recurring revenue	Recurring profit	Net income attributable to	Net income per share
	owners of parent
	Million yen	%	Million yen	%	Million yen	%	Yen
Year ending Mar. 2022	28,600	25.0	250	-37.7	80	-	7.39

(Note 1) Revisions to business forecast for the current fiscal year: Yes (Reference)

Adjusted recurring profit

Year ending Mar. 2022: 1,130 million yen (1.0%) Adjusted net income

Year ending Mar. 2022: 710 million yen (－%)

In addition to the above, the status of LTV (Life Time Value), etc., as an important performance indicator of our group, is disclosed in the supplementary

material for financial results.

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*Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes

in the scope of consolidation): None

1. Changes in accounting policies, accounting estimates and restatement
   ① Changes in accounting policies associated with revision of accounting standards: ②Changes in accounting policies other than ①
   ③Changes in accounting estimates
   ④Restatement
2. Shares outstanding (common shares)

① Number of shares outstanding at the end of period (treasury shares included)

As of December 2021	10,853,773 shares
As of March 2021	10,811,773 shares
②Number of treasury shares at the end of period
As of December 2021	42 shares
As of March 2021	42 shares

③Average number of shares during period (quarterly cumulative period)

Nine months ended December 2021	10,824,487 shares
Nine months ended December 2020	10,802,219 shares

• Yes
• None
• None
• None

*Quarterly financial summary is not subject to the quarterly review procedures by certified public accountants or auditing firms.

*Explanation regarding appropriate use of business forecasts and other special instructions

(Notes on forward-looking statements)

Above forecasts are based on information currently available to the Company and certain assumptions that the Company deems to be reasonable at the time this report was prepared. The Company does not make promises about the achievements. Actual results may differ significantly from the forecasts due to various factors.

(Supplementary material for quarterly financial results)

Supplementary material for quarterly financial results will be disclosed on TDnet and posted on the Company's website immediately after the announcement of financial results.

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