Ito En : Consolidated Financial Results Under Japanese Standards for the Second Quarter of the fiscal year ending April 30, 2022 (Unaudited)

ITO EN, LTD.

Consolidated Financial Results

December 1, 2021

ITO EN, LTD. Securities numbers : 2593 (Common Stock)

: 25935 (Class-A Preferred Stock)

(URL https://www.itoen.co.jp)

47-10, Honmachi 3 chome, Shibuya-ku, Tokyo Representative: Daisuke Honjo (President)

For Immediate Release

Under Japanese Standards for the Second Quarter of the fiscal year ending April 30, 2022 (Unaudited)

Scheduled filing date of quarterly securities report: December 13, 2021

Scheduled date of commencement of dividend payment: January 14, 2022

Supplementary documents for quarterly results prepared: Yes

Quarterly results presentation held (for institutional investors and analysts): Yes

(Figures are rounded down to million yen.)

1. Consolidated Performance for the Second Quarter of the Fiscal Year Ending April 30, 2022 (May 1, 2021 - October 31, 2021)

(1) Consolidated Results of Operations - cumulative				(% indicates year on year changes)
	Net sales		Operating income	Ordinary income		Profit attributable to owners
			of parent
	Million yen		Million yen		Million yen			Million yen
10/31/2021	208,716	-	10,856	26.1%	11,303	35.9%		7,752	68.7%
10/31/2020	236,585	-10.9%	8,610	-39.0%	8,317	-40.0%		4,596	-48.5%
Note 1: Comprehensive income 10/31/2021: 8,653 million yen (82.5%)	10/31/2020: 4,741 million yen (-42.0%)
	Earnings per share	Earnings per share (diluted)
	Yen		Yen
10/31/2021	62.57		62.43
10/31/2020	36.54		36.46

Note 2: The above per share information pertains to Common Stock. For per share information for Class-A Preferred Stock, refer to "Reference" below.

Note 3: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter of the fiscal year ending April 30, 2022, and each figure for the first six months of the fiscal year ending April 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations. B ecause this will have a significant impact on net sales, the year on year percentage change in net sales is not shown.

If net sales are calculated using the same standards as those for the first six months of the fiscal year ended April 30, 2021, net sales increased by 1.9%.

(2) Consolidated Financial Position

	Total assets	Net assets		Shareholders' equity ratio
	Million yen	Million yen
10/31/2021		335,462	158,609		46.9%
4/30/2021		333,065	153,057		45.6%
Reference: Shareholders' equity	10/31/2021: 157,333 million yen	4/30/2021: 151,773 million yen

Note: The Company has applied the Accounting Standard for Revenue Recognition, etc. from the beginning of the first quarter of the fiscal year ending April 30, 2022, and each figure as of October 31, 2021, is the figure after applying the said accounting standard, etc.

2. Dividends

						Dividend per share
		First quarter end	Second quarter end		Third quarter end		Year end		Full year
		Yen	Yen		Yen		Yen		Yen
4/30/2021		-	20.00			-		20.00		40.00
4/30/2022		-	20.00
4/30/2022						-		20.00		40.00
(Forecast)

Note 1: Revision to the most recently disclosed dividend forecast: None

Note 2: The above dividend per share pertains to Common Stock. For dividend per share for Class-A Preferred Stock, refer to "Reference" below.

3. Forecasted Consolidated Results for the Fiscal Year Ending April 30, 2022 (May 1, 2021 - April 30, 2022)

(% indicates year on year changes)

	Net sales		Operating income	Ordinary income	Profit attributable to	Earnings per
		owners of parent	share
	Million yen		Million yen		Million yen		Million yen		Yen
4/30/2022	403,100	-	20,000	19.9%	19,800	16.3%	12,800	82.5%	102.84

Note 1: Revision to the most recently forecasted consolidated results: Yes

Note 2: The above per share information in forecasted consolidated results pertains to Common Stock. For per share information for Class-A Preferred Stock, refer to "Reference" below.

Note 3: Because the Company has applied the Accounting Standard for Revenue Recognition, etc. from the beginning of the first quarter of the fiscal year ending April 30, 2022, the forecasted consolidated results are based on this accounting standard. Since this will have a significant impact on net sales, the year on year percentage change in net sales is not shown.

If net sales are calculated using the same standards as those for the fiscal year ended April 30, 2021, net sales are expected to increase by 4.1%.

Notes

1. Changes in important subsidiaries during the period
   (Changes in specific subsidiaries accompanied by a change in the scope of consolidation): None
2. Application of special accounting methods in preparation for quarterly consolidated financial statements: Yes

Note: Application of simplified accounting and specific for preparing the quarterly consolidated financial statements.

1. Changes in accounting policies, changes in accounting estimates, and restatements
2. 1. Changes in accounting policies associated with in accounting standards: Yes
   2. Changes in accounting policies other than i. above: None
   3. Changes in accounting estimates: None
   4. Restatements: None

Note: For further details, please refer to the section of "(4) Notes to Quarterly Consolidated Financial Statements, (Changes in Ac counting Policies)" of "2. Quarterly Consolidated Financial Statements and Main Notes" on page 10 of the attached material.

(4) Number of outstanding shares (common stock)
i. Number of outstanding shares (including treasury stock)	10/31/2021 89,212,380 shares	4/30/2021	89,212,380 shares
ii. Number of treasury stock	10/31/2021 1,004,852 shares	4/30/2021	1,012,267 shares
iii. Average number of shares during the period	10/31/2021 88,204,456 shares	10/31/2020	88,191,927 shares

Note: The above "Number of outstanding shares" pertains to Common Stock. For "Number of outstanding shares" for Class-A Preferred Stock, refer to "Reference" below.

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Request for appropriate use of the business outlook and other special remarks

Forward-looking statements in this document, including forecasts, are based on information available to management at the time of the announcement, which management assumes to be reasonable. Therefore, our company does not guarantee the achievement of forecasts and other forward-looking statements. Because of variable factors, actual results may differ from the forecast figures. For the basis of presumption of the forecasted operation results and the notes on its use, refer to "Explanations Regarding Forecasts for Consolidated Results and Future Outlook" on page 4.

Reference

(1) Per share information of Class-A Preferred Stock - cumulative

	Earnings per share	Earnings per share
	(diluted)
	Yen	Yen
10/31/2021	67.57	67.43
10/31/2020	41.54	41.46

(2) Dividends - Class-A Preferred Stock

						Dividend per share
		First quarter end	Second quarter end		Third quarter end		Year end		Full year
		Yen	Yen		Yen		Yen		Yen
4/30/2021		-	25.00			-		25.00		50.00
4/30/2022		-	25.00
4/30/2022						-		25.00		50.00
(Forecast)
Note: Revision to the most recently disclosed dividend forecast: None

(3) Per share information of Class-A Preferred Stock in forecasted consolidated results

	Earnings per share
	(Consolidated)
	Yen
4/30/2022	112.84

Note: Revision to the most recently forecasted consolidated results: None

(4) Number of outstanding shares - Class-A Preferred Stock

1. Number of outstanding shares (including treasury stock)
2. Number of treasury stock
3. Average number of shares during the period

10/31/2021 34,246,962 shares	4/30/2021	34,246,962 shares
10/31/2021 1,197,840 shares	4/30/2021	1,196,320 shares
10/31/2021 33,050,060 shares	10/31/2020	33,054,234 shares

Contents of Attachments
1. Qualitative Information Regarding Consolidated Financial Results for This Quarter ........................	2
(1)	Explanations Regarding Consolidated Results of Operations................................................................................	2
(2)	Explanations Regarding Consolidated Financial Position .....................................................................................	3
(3)	Explanations Regarding Forecasts for Consolidated Results and Future Outlook ..................................................	4
2. Quarterly Consolidated Financial Statements and Main Notes.............................................................	5
(1)	Quarterly Consolidated Balance Sheet .................................................................................................................	5
(2)	Quarterly Consolidated Statement of Income and Comprehensive Income ...........................................................	7
	Quarterly Consolidated Statement of Income [Second quarter period] ..................................................................	7
	Quarterly Consolidated Statement of Comprehensive Income [Second quarter period] .........................................	8
(3)	Quarterly Consolidated Statements of Cash Flows ...............................................................................................	9
(4)	Notes to Quarterly Consolidated Financial Statements .......................................................................................	10
	(Note Regarding the Company's Position as a Going Concern) ..........................................................................	10
	(Note Regarding Significant Changes in the Amount of Shareholders' Equity)...................................................	10
	(Application of Special Accounting Methods in Preparation for Quarterly Consolidated Financial Statements) ...	10
	(Changes in Accounting Policies) ......................................................................................................................	10
	(Segment Information, etc.)...............................................................................................................................	11

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